Bitcoin Forum

Hello.

To begin with,some facts.

- By the 13th of December 2017, the network hashrate of ETH was 130.000Gh/s. Today (this has been repeated most times) we are at 245.000Gh/s. so in just 4-5 months the current Hashrate of ETH has almost doubled.
- I'm really begining to see a pattern on this. Usually, if the market goes down, more GPU's are pointed towards ETH (a safe value, at least for now). It happens aswell the other way round.
- today, the current profit of a 314mh/s rig is just about 300$ per month (electricity cost considered). In Spain, were i live, is just about 250€.
- PoS is bound to happen sometime this year. We are getting very close to 100 million coins Vitalik said to be the max number. So at anytime ETH mining can be crashed.


The point is: Is there a coin , considering the current values of the Altcoin market, that can see increased it's price so that mining that coin can be profitable?=? i mean, once PoS is applied, where are you going to place your gpus?? Is there a coin , actually, that can absorb that huge amount of hashrate without making the coin totally unprofitable?? We all know that if a coin increases in hashrate but not in price, it's not a viable option to mine it (unless you bet money on it and you succeed, but i guess noone wants to bet nothing right now).

Let's place ourselves in the day after ETH cannot be mined so it's in PoS version (btw, that day is not very far). Is there a future for those gpus?? Nvidia cards do decent on ETH and very good on other algos. AMD cards do very well with ETH and not very good on other algos.

Is the end of ETH going to kill mining?? Will that enormous amount of Gpus searching for profit , actually gonna destroy any profit on any coin??? What do you think??

The only thing I am concerned about is all the noobs leaving ETH when it goes POS. If they sell their GPUs it will be heaven, but if they do the actuall research then it could be problems with flooding the networks.
I am all AMD and I have around same hashrate that you talk about (314 mh/s on ethash). I can assure you I am getting around 700$ per month  (electricity cost deducted already). Ethash is not the only profitable algo for AMD. There is also CN variants and some other more hidden gems (the one that get you that money). Do your research and it pays out.

Disclaimer: The alleged earning is of course calculated at this time. There is no guarantee that it will actually be like that in one months timeframe.

mmmm....i will not deny that what you say is possible. But reality tells me another thing.

The ETH network hashrate has been increasing overtime. and when a small fall in the market appears, more or less like 10.000 to 15.000gh/s appear on the ETH network. Suppose that those are the ones that mine another thing different from ETH and from time to time have to quit it to mine a safer coin like ETH. Considering that i see this happen at least 2 times every week, i don't think you can get a lot of money by mining other coins, though i will not deny it. what you are telling me is like doubling the profit of ETH with AMD cards. That's very difficult to believe, but possible if you are good at this.

i don't know your electricity costs, mine are at 0,15$ average (i have timetable electricity) but i've calculated dual mining and it just doesn't make sense since the increase in power consumption would force me to sell the altcoin at prices that, in some cases, can mean a loss. It depends on whether you mine for profit or for paying bills.
Considering the many people hold the mined ETH by paying the electricity bill from their own pocket, at the expense of waiting for the price to skyrocket, so selling ETH is not what you want to do overtime (in a bullish view) so mining altcoins for actual profit is just an exercise of no guarantee as you said.

If i were to point my cards to another place different from ETH, the instant profit can be lost from a day to another. I value your braveness to do it, and research everyday for the most profit , but i don't think that's "real" in terms of efficiency and profitability.

also we will have to agree that the expectations in ETH are not the same as other coins. It's not the same to mine a coin that with actual difficulty can give you profit, and compare that to what you can do with ETH if prices begin to skyrocket. ETC, MUSICOIN and another EThash algos are not profitable for me or at least, more than ETH so no point on even researching. XMR gives me like 55% less profit that ETH at the moment, and it has been probed time after time that AMD RX 570/580 like ETH algo but not the others.

Enjoy your insane profit out of your cards, because i can't even imagine how you can almost double my profit without mining the best algo for AMD. If PoS comes soon, no coin will be left proftable once gpus flood the network.

If you don't beleive me just PM me and I will tell you how to do it. But I will not make it public here because then I just undermine myself. Its all on the forum though, you just have to dig and do some research and tinkering. Actually I have 2 algos that give me way more then ETH. After that algos come CN variations that are all more profitable then ETH most of the time, specially if you consider low power usage of CN. And then there is ETH after all those. Mind you I am looking at shere current profitability.

Also what you wrote holds to an extent. At times you need to input a lot of time to switch algos and sell fast to maintain high profit. But the algos I talk about are very stable currently so no need for switching. My electricity cost is funny the same as yours at 0.15$.

And I don't agree on holding. Why not mine something at almost twice the value of ETH and buy ETH weekly for twice the ammount?

You guys are missing the big storm on the horizon.

Let us assume for one moment that eth does not go pos in the next 6 months. More asic and fpga are comming online that beats gpus. What are you guys going to mine then?

Yea some coins might fork away from asic but no one can for away from FPGA's or gpus. Except going POS.

ASICS are just a big hype that holds no water. I am more and more sure of it. They are on the network for a long time already and when they are being released its just when forks are announced or when profitability falls to low, like in case of Cryptonight. All companies announced their ASICs at the same time. How weird. And then poor people chasing money buy them and have no chances to ROI.
I beleive the same is being done with FPGA. They are more flexible and pose some danger but not them and not ASICs I think will destroy GPU mining at leant not in the near future. Why? Simply because GPUs are so darn flexible. You can mine any algo and switch at ease and also tinker with them a lot. And they have a great resell value unlike ASICs or FPGAs. Also coins with ASIC resistant algos are comming out daily and new algorithms are constantly being developed. Nothing beats GPUs at how fast they can adapt to this.

Maybe I am wrong, but I do beleive that it not the case. Just look at all the crying here on the forums about about how mining is dead. Ok let it be dead, I will continue earning 700$ per month with my 6x RX580 and 4x RX
470. I know I may sound full of it, but I am honestly telling the truth :)

But I am aware that in crypto things chage REALLY fast. So in one month I may be earning 200$ for all I know and in half a year I may be bearly paying electricity. Only time will tell :)

And when Bitmain releases FPGAs miners that can mine anything faster and lower power than GPU's which gets updated every time the coins fork? what then? mark my words. 6 months from now GPU's will have nothing to mine that covers the cost of power.

Lets wait and see. I think you are overreacting. I bet in 6 months the mining landscape will be roughly the same as it is now. This is how people are, every new threat gets blown out of proportions. But as I said I might be wrong. Well if this happens I can still sell my GPUs on ebay and recover the costs (they will be long paid by then). If I had ASICs I can just throw them into trash.

But I am sure it will not come to that. Btw same thing was being said when there was a bear run not long ago.

Unable to PM, interested if these are coins you are able to sell on an exchange or not. Thanks.

Yes. While I saw you can make really easy money by mining MN coins when they come out and selling mined MN in OTC market its a pain in the *** for me. Because you need an escrow or you can get scammed and you need a lot of time for all that.

Out of two coins I mentioned one is even on Poloniex (and old coin from 2014) and has a daily volume of 235 BTC with very stable price over time (its of the radar as its basically a shitcoin).
The other is a new coin but had a good growth and has a fantastic community. Volume is around 14 BTC daily, I think its traded on CryptoBridge atm.

So yes nothing special about that, normally tradable coins and very stable as I said. This is not some day to day mining thing.