Bitcoin Forum

Will GPU mining be profitable again or will become obsolete in the future?  ???

GPU mining for BTC will not be profitable at all and it is not right now. The only way to get BTC right now is to mine it with very expensive hardware or to work for it, or of course to buy it.
BR

You can still make a little profit from alternative coins using GPU mining.

X11/13 are still very profitable with GPU's

You can mine only alt coins now on GPU

for BTC, GPU mining is highly unlikely to ever be profitable again. but you could speculate, by mining low difficulty altcoins, then selling them for BTC.

doubt it, better mine some alt-coins.

GPU for mining BTC is not worth-ed so if you try it just wasting time and money
better you use your PC to mining alt coin it more profit than if you mining btc

Mining BTC using it isn't an option. Try mining ASIC resistant alt coins with it, no guarantees of ROI though, since they can be a pump and dump coin.

only for altcoins at this point.  Check the site coinwarz. com for info on what coin may be worth the time to mine. 

Thanks for the inputs guys. I'll look into mining altcoins.  ;)

I realized pretty quickly that mining is pretty much obselete altogether for an average person. To keep up with it you need thousands of dollars in hardware and your returns diminish constantly.

Also, consider about the time taken to manage the hardware, electrical cost, cooling equipment cost.
Edit: And efficiency

When sha256 ASICs were developed, GPU miners switched from bitcoin to scrypt coins.
When scrypt ASICs were developed, they switched to coins with other algorithms, like x11, x13, scrypt-jane, etc.

IMO, algorithms like x11 and x13 will be remained as "ASIC-resistent" for a long time, and so GPU mining won't really be gone.

There are rumours of FGPA's which are capable of mining x11/x13 plus you have the added chance of botnets

I don't think so. Now FPGA Bitcoin Mining is much more profitable than GPU Mining.

Are you living in a cave? FPGA Bitcoin miners was so years ago, the most efficient is ASIC Bitcoin miners. GPU can hardly make a profit anymore.

The last few posts are talking about mining x11/x13 coins rather than bitcoin...
My bad...That post is indeed talking about bitcoin...

AFAIK he said FPGA BITCOIN miners.

Oops my bad, guess it is a good time for me to have a cup of coffee now. :D

if mining for bitcoin, You will not get anything.
you better mine altcoin x13/x11, like drk, btcx, hiro, lioncoin.
more profitable. :D

not only would you not make a profit but you would also have roughly zero revenue from GPU mining

GPU mining for btc is only for time waste if you really wants to earn from gpu and want some money..And you have free electricirty then mine alt coins.. like newley created coins.. or some good coins and then exchange them with ltc btc or doge.. and you get profit.. well i got free electricity but i dont have a good gpu for mining i m now going to buy 7960 3gb gaming plus mining card .. mining speed 550 khs..

GPU mining is very risky now that even scrypt has ASICs available.  It will only be a matter of time before X11/X13/N have ASICs (assuming those coins survive to warrant ASIC development).  I would say GPU mining is only a somewhat safe bet if you have free electricity.  Barring that you're better off buying/speculating.

even with free electricity GPU mining will likely not even be worth your time.

you can still miner some x11 /x13 coins with gpus.
profit is not what it used to be, but also isnt something to be thrown away either.

cheers

Agree with mining x11 or x13 having some profit, but the profit is really low. I would suggest selling the GPU and buy BTC directly.

Yes! But still you can mine some other low difficult coins.
Kindly,
        Muhammed Zakhir

X11 and X13 for GPU make decent profit due to low power and heat!

But still the profit is really, really low unless your electricity is close to free..

You may make a lot in terms of the altcoins that you are buying, but in terms of bitcoin or in terms of fiat you will not mine very much.

The best way to profit right now is to buy a x11 FPGA, but I can't find a legit one and mostly scammers..

Also have to keep in mind that GPU's reduce in price as time goes on.   For me personally i had 8500 + watts of GPU's running at a point.  But i could not justify cooling, electricity for profit.   

I would look into selling GPU's and getting new equipment or buying directly.  There are some "free" electricity that it might be worth it for but GPU is sadly not profitable for most.  Especially when you look at selling GPU vs profit it makes.

It may be profitable, but so is standing outside a supermarket begging for money.

If those X11/X13 coins go belly up in a 10 day period (we've seen alts come crashing down since 2011), then you're left holding 10, 20, 30 or however many cards you bought.  If you have a nice GPU that you game with and mine part-time you can't go wrong.   If you build out a farm now you're risking a lot more than last year at this time.

For me, I would spend my assets trying to build a crypto business.  The largest holders of coins besides the early whales are the bitcoin/litecoin businesses.

A lot of these coins are very new even by crypto currency standards. It is likely that most of them are very difficult to trade in any substantial quantity or even at all

It is still profitable, as long as you find the right coin to mine

So what is the right coin for GPU at this very moment?  ???

No longer. Practically, if one coin us profitable, more people will start mining it and the difficulty can increase a lot. The coin can also be a pump and dump coin.

Even the most profitable coin right now is not profitable anymore, GPU RIP.

GPU will never be profitable on Bitcoin. The difficulty to mine it is just going to get higher.

Use GPU on alt coins with X11 algos and the like.

If you find a way to mine cryptonight coin using GPU, that may still have some profit in it.

There may be some profitability but their difficulty will also increase and their value can also be quite low. You might never ROI.

Barring somebody having access to 100% free electricity there are no profitable GPU coins for mining.  Scrypt coins had that distinction for quite awhile until scrypt asics started appearing.  Then Adaptive Scrypt-N coins, followed by X11/X13, Keccak, Grotesl, and Quark.

But as it stands now...GPU mining is pretty much screwed universally in my opinion.

Unless free electricity it is hard for big GPU miners.   I know i sold mine off because you have to add in cooling to the equation running lots of cards and cooling electric bills were not fun for GPU.

https://bitcointalk.org/index.php?topic=638915.0
From the feedback on that thread, it seems it does work.

Even if you have free electricity, the amount that GPU mining will produce will likely not even be worth your time.

I think it's just like CPUs. CPUs used to be profitable, now it would be a total joke to try to mine with a CPU. I think gpus are headed that way, if not already there. It could be fun to tinker for a bit with it to get your feet wet with mining though. I did it for a while but then it wasn't worth it.

Pretty much so, unless there will be a hugely successful ASIC-resistant coin.

alt coin like dogecoin, litecoin, and many more with scrypt algo are not profitable now
you have to choose alt coin with asic resistant like darkcoin (x11 algo)

The problem is if a coin becomes successful somebody will want to develop a specific machine just for it.  If BTC stayed at $0.10 there would be no ASICs for it. People wouldn't even bother with GPUs for it.  The ASICs follow the money trail.

Very true. Scrypt was ASIC-resistant, and those x11 algorithm was GPU-resistant.  ;D

None of the gpu mining is profitable, better sell of right now!!

GPU mining is still profitable.  Mine x11, x13 or NIST5 and you'll save a lot of electricity right off the bat.  You can make slightly more BTC by getting in on new altcoins early while the difficulty is low.  A lot of coins are proof-of-stake now as well so you can just leave the coins in your wallet and they collect interest.  The trick to it all is mining and dumping the shit coins versus mining and staking the good ones.  Good luck!

While it may be profitable for a few people, I would not recommend setting up a GPU farm at this time.   There GPU farms who switch off of Bitcoin in 2013 were already sunk costs.  The run-up of LTC and Doge earlier put that strain on the AMD GPU market.  Now you can find secondhand used GPUs dirt cheap for a reason :P

How much you can get mining those altcoin a day, say with a r280x?

This is probably true, however people were GPU mining long before BTC was worth even a penny, the may have not been investing thousands of dollars in bitcoin but they were using GPUs to mine.

That is incorrect. Artforz is considered to first person to be secretly mining massive amounts of BTC on his GPUs and at that time BTC was over $0.01.  The spike in mining in March 2011 is from the GPU explosion that Satoshi tried to hold back as long as possible.

While Artforz is the first one to mine bitcoin with GPUs secretly (https://en.bitcoin.it/wiki/ArtForz), laszlo (the pizza buyer) released a GPU miner back in May 2010 https://bitcointalk.org/index.php?topic=109.msg5149151#msg5149151

The only way that can save GPU mining is someone create a truly GPU only coin. Its hard but not impossible..

That is not the hard part.
The really hard part is to make that coin successive, which requires good developers, good promoting programs, a large user base, good merchant acceptance, etc.

I believe if the algo is ASIC and FPGA proof. Isn't that the best marketing strategy ?

The difficulty would be really high. People who still have GPUs to mine bitcoins a few years ago would switch to this coin, provided that it is highly successful, making the difficulty very high. The coin have to be successful to be able to attract miners.

GPU mining would be recommened for alt coins, not mining directly for bitcoin lol.

All the ASIC war is making everything to go up in difficulty way faster, so no chance.

Not for mining BTC directly no.  Provided you have free or near-free electricity you might be able to squeeze a few dollars per month out of a mini gpu farm but this too is getting harder by the day.

It's funny u was running measly 3 gpu "farm" only a year ago and it's become totally worthless. I had almost free electric but it's not even worth the hassle at this point. You can get more from sig campaigns if you don't have any hardware.

i think mining for average joes like us is only useful for a very very limited time when a coin launches, after that its pretty much game over.

The coin can be a pump and dump. You must have a huge community for the coin to be stable, you can't tell if it will even hit the exchange within that limited time.

Yes but the exchanges can be made by the persons who made the coin although it will take some time.

Kindly,
        MZ

I don't think people would trust the operator much. He can just run away with the coins and the trade volumes won't be very high.

I didn't told that they would trust but I told it is possible. :)

Kindly,
        MZ

Don't we already have a dozen of ASIC proof algorithms (at least at this moment), like X11, X13, X15, NIST5, etc?
I don't think it makes those coin very successful.

+1.
It is the features of the coin which makes the coin very successful and the names, logo etc.. must be a catchy one. :)

Kindly,
        MZ

I think it will always be profitable, there are plenty of anti-ASIC coins.

Wrong concept. Even though those coins are ASIC proof, why can't people use their GPUs from mining BTC a few years ago to mine that alt coin? The difficulty would probably rise. You cannot predict if the price is going to crash. Those people with GPUs from mining Bitcoins year ago profit more than small miners.

As noted above if any coin becomes profitable with GPUs it is usually destroyed in a few months by massive farms moving in who sell every day, mutlicoin pools who autodump the coin, and eventually an ASIC invasion if the price remains high enough.

Pretty much all GPU miners have switch to multipools since no coin stays profitable for more than a few days (unless you have free electricity).