Will mining altcoins on video cards be relevant in the next bull cycle?

[FP91G]

Next year’s new currency will not need to be mined. It is very likely that it will explode or even die in the next bull market.

In order for miners to start buying new video cards and assembling mining farms, it is first necessary that the profit of working mining farms be good. Or wait another 6-12 months for the GPU miners to get rid of the hardware.Who bought new video cards of the 4xxx series for mining, they will pay off for a long time.

We are in a point I would say that as you have pointed out in another thread we can buy a full mining rig now with up to 8 cards for the price of just a single card in 2021 when price of GPU-s were sky high.It means that now everyone can invest in such a rig and I think in most countries in Eastern Europe they can afford to mine at a loss to keep the miners running (buying coins is an option but not as good as mining as you won't be as vigilant to market changes),in such countries anyone who wants can do so.I am not talking about Western Europe where 1 kilowatt costs 0.23 Eur the min like in Germany,but in these other countries up to 0.07 Eur kilowatt.

I think is a good time for people who always wanted to try mining but for one reason or another they were halted,now a mere 300 dollars and boom you have a small rig up and running.

There are many old video cards on the market at a good price, but they can only be used in countries with cheap electricity. And such video cards have a greater risk of breakage compared to new ones. In Russia, there are also risks of illegal mining in a residential area, and if you mine according to the law, then the price of a commercial tariff will be 10 cents.

[fmz89]

mining getting less and less desire from today crypto world, only from OG and early crypto nerds still get going,
many big player already rekt from mining industry, and to much hardware flooding the market really was different back then when mining still favorable investment
after the eth switch its really devastated lot of mining industry, there is no mineable coin big enough to carry lot of hardware and network participant.

[Ursul0]

We saw 2 bull runs in 2017 and 2021. At that time, mining brought a very large profit, sometimes a video card paid off in a few months.
Do you think that next alt season will be profitable mining and video cards will rise in price again?

It always has been, so it would be a pretty wild change if they no longer were.  It's possible though.  Most algorithms now have ASICs and if they don't then ASICs or FPGAs can still be created rather quickly to take advantage of anything new.  That certainly puts GPUs on the back burner.  However, with AI being a massive user of GPUs I would think an obvious solution to this would be a blockchain that somehow powered AI creations using GPUs.  If something like this gets created, I could see it's coin being an extremely valuable to "mine" asset.

@OgNasty yes. adopting useful POW could be very interesting and AI seems to be the thing.
However there many issues with that. How would you ensure that the "useful" part of the job is indeed useful and the network can establish consensus? in traditional pow you have all the power directed toward securing the chain, here it would go over to model training/inference/whatever, so how would you prevent from attacking miner injecting invalid blocks (what are valid blocks anyway?), also how you can deal with the potentially massive amounts of data that may be required?
too many questions...

EDIT: probably combination of POS and usefulPOW would be required

also what's up with that: https://www.rendertoken.com/

[FP91G]

mining getting less and less desire from today crypto world, only from OG and early crypto nerds still get going,
many big player already rekt from mining industry, and to much hardware flooding the market really was different back then when mining still favorable investment
after the eth switch its really devastated lot of mining industry, there is no mineable coin big enough to carry lot of hardware and network participant.

In the picture, not all coins are for mining on graphics cards, but the GPU miners haven't given up yet.
Many miners now have no profit or it is small, but not all miners sold video cards, but only temporarily turned it off. According to the forecast, in 2024 everyone is waiting for the new GPU season.