Buying new GPUs now and future as ETH POS is on horizon

[VRMdude]

Hi,

I can get couple of 6600 XT  and 3060 (not sure if its LHR) ofcourse on some premium.

However, ETH 2.0 is on horizon, not sure but as I read, I see its could be live by Jan 2022. Can I go for breakeven if I get couple of above mentioned cards if I buy them in next week or so. ? Or should I drop the idea as because of inflated ETH price, its kind of viable to still mine it, what will happen if there is ETH 2.0 .  

As others have said if you can afford to lose your capital investment then crack on (you wont unless somebody burgles ya or fire) and if you dont mind mining for a time at low or zero profit or even loss also crack on....

In the bottom of the dip during summer of 2019 my heckles told me to go and buy 4 x RVII and i did just that, in hindsight it wasnt enough lol but such is the nature of greed.

For a year i mined at cost then boom the bulls arrived and Eth went $200 >>> $4k+  Good fortune favours the brave. A small amount of those profits have just bought what i call a 4th Gen rig which is 6 x RX6800 + new mobo, cpu, RAM and a rather nice Nvme ssd which is the best thing ever as speeds installations and compilations/removal of drivers super fast with its amazing speeds plus booting in ten seconds is crazy to me. 256Gb WD blue since you asked lol.

TBH im thinking of building a second rig now but might wait till after xmas to see how new GPU's coming affect things including the Intel offering and ofcourse the POS switch for ETH but ETC is there and i predict it will be jumped on so already mined a little stashio as you do and there are plenty of other shtcoins to GPU mine there awlays will be such is the nature of the beast. However at heart I am a BTC maximalist and crave decentralized everything so this is just a hobby whilst i wait for BTC to buy me a mansion for retirement.

[XUR_TIP]

Investing money on GPUs is just like investing money on top altcoins in the market, if bear market as present all those big altcoins will lose value big time and their sight may ridicule you but you don't actually lose until you sell them off, as for mining the difference isn't much just keep mining and hold, crypto market is seasonal

[devil2man]

sure eth you will be able to mine maximum until the end of 2022 when presumably eth 2.0 will arrive but then you will be able to profitably mine some other coin such as raven for example if you find latest generation cards at reasonable prices and want to try to mine then buy them, there will always be something to mine, even if some cards are lhr now there are programs to mine that partially unlock them

[CryptoATM]

Let's assume that ETH 2.0 is here and there is no PoW algorithm anymore on ETH what will miners be mining right now? I have LHR cards and yes ravencoin is the best option for them, this doesn't mean that many miners will quit, the difference here is bull market is still very much alive so whatever coin you choose to mine will still be profitable

[VRMdude]

John Law's scarcity theory of value determines the mining profit now on POW for all coins and will remain the primary mechanism of the mind for crypto mining when Eth goes to POS simply because people will still mine with GPU's if there are POW coins to mine at profit and that activity gives value to scarcity even when there are none capped coins and pre mined junk. I am saying this is a feedback loop that only a denial of internet, electricity or HW will thwart and that is the game theory based upon the human psyche but even then if scarcity rises so does value so loss of electric, internet has to be universal ie global same as all POW coins going POS or dying overnight in sync. possible yeah, likely not so much... The sun has a greater chance over POS of interrupting the feedback loop if it spits out a Carrington like event.

[binanceautotrader]

For sure mining is a good business. Im in it for 3 years and made roghtly 100.000 usd. With these new cards you can make a lot of profit.

I mine with GPU Rx580 8g. It gives me abouts 30m/h each card. I will sell my cards very soon and changed for new ones.

One advise is MINE FOR THE FUTURE, I mean that if you can get your Energy bills covered, just keep your mining! I was mining when ETH got 200 usd now its 3000. So I waited to swap my coins.

Good luck

[swogerino]

For sure mining is a good business. Im in it for 3 years and made roghtly 100.000 usd. With these new cards you can make a lot of profit.

I mine with GPU Rx580 8g. It gives me abouts 30m/h each card. I will sell my cards very soon and changed for new ones.

One advise is MINE FOR THE FUTURE, I mean that if you can get your Energy bills covered, just keep your mining! I was mining when ETH got 200 usd now its 3000. So I waited to swap my coins.

Good luck

That is how it is done.I was mining in 2018 and we were making like 90 USD a month in Bitcoin as we mined through Nicehash back then and paid 220 USD energy monthly.I got pressure from my friend to turn off the rigs but I insisted in the long term we are going to be winners.We made near 1 Bitcoin so we really re invested about 10.000 USD in a good powerful mining rig with new cards and also we are using the old ones still.We are only in profit from mining and whoever tells me mining is not profitable I look at them surprised at what are these guys saying.You only have to be patient,even mine at a loss for sometime and in the end you will come out victorious,at least this has been my experience so far.

[mu_enrico]

The last few months are the time to sell your used GPUs, I've sold a couple of my old RX cards with the price near MSRP at the time I bought the card. And now I'm waiting for the price of GPU to go down to buy a couple of new cards. Buying GPU now for mining means GPU sellers will charge you an insane amount of money, and the ETH price is already high = more risk.

ETH POS so what? There will be many alts with different algorithm to mine on. Just wait for the time to pump while stocking cheap high-end GPU is better IMO.

[popeye95]

The last few months are the time to sell your used GPUs, I've sold a couple of my old RX cards with the price near MSRP at the time I bought the card. And now I'm waiting for the price of GPU to go down to buy a couple of new cards. Buying GPU now for mining means GPU sellers will charge you an insane amount of money, and the ETH price is already high = more risk.

ETH POS so what? There will be many alts with different algorithm to mine on. Just wait for the time to pump while stocking cheap high-end GPU is better IMO.

Yeah, with the uncertainty of ETH POS incoming in very close and the overprice of GPUs, no way anyone would size up their GPU mining farm. Also, there is always the panic phase when something new got introduced so I'm willing to bet ETH POS will make the GPU market goes down for a time before stabilize by branching out to other crypto's algo.

[FP91G]

The bear market may not come if some of the projects are used in the real sector.
If you invest in equipment, then its price cannot drop 85% in a week.
The most important thing is to buy mining equipment at good prices, and not to overpay to dealers.
The most profitable mining was in 2019 for those miners who did not sell their coins cheaply.