Ethereum mining still profitable?

[apriyoni]

if there is no more profit, i'll wait for the next huge coin, it will come eventually

That is what I will do. I have mined Litecoin, Doge coin, X11 and Sharkcoin and Ethereum. They were all profitable at some stage.

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[tosrn]

Hello guys,

new to the mining business (I know, ANOTHER ONE), I read a lot this forum and other websites as well on mining and Ethereum.

I'd like if possible to validate with the knowledgeable members here that my understanding of ETH mining and its (possible) future :

- The mining difficulty has risen in the past month and will continue to do so until (around end of year) ETH switches to PoS instead of PoW now

Is this correct? I'm not perfectly at ease with the PoS concept but I do understand that one of its major effect on mining will be rendering it (almost) not profitable.

- Given the history of crypto currency the possibility of having another currency that requires GPU mining in the coming year is medium to high

If this is correct investing in a RIG right now would not be a complete loss of money (again, only a possibility and not a certainty)


What do you guys think? Do I still need to read a lot or I'm starting to get the hang of it?  

In the meantime I started mining with my gaming RIG to try it out (GTX 970, W10 and latest driver, clearly not optimal) and it works fine!

[malekbaba]

if anyone can handle the rig correctly, the rig will make money. Eth is not the only profitable coin for gpu miner, before eth came into market there were other coins and in future there will be

[zalucia]

If the price keeps on dropping to $5 or lower, it will be not profitable for the most miners. So the difficulty will not rise.

[ilgio]

which is another profitable currency with GPU? ?

[basyaru]

which is another profitable currency with GPU? ?

I don't think you'll get the answer =)
But there is always Nicehash 

[Restmand]

which is another profitable currency with GPU? ?

I don't think you'll get the answer =)
But there is always Nicehash 

If you do not use Nicehash to mine Etheruem, then it is OK to use that site. It is quite reliable.

[Za1n]

which is another profitable currency with GPU? ?

I don't think you'll get the answer =)
But there is always Nicehash  

I agree, it might be easy money, but not so easy you can expect everyone else to do all the legwork for you and cut into their own profits. The answers are out there and not hidden, but you do need to put in at least some effort.

[ilgio]

I don't understand.
is there an coin more profitable to ethereum?
with GPU mining

[malekbaba]

I don't understand.
is there an coin more profitable to ethereum?
with GPU mining

in crypto no one will help in this specific question

[ilgio]

 

[antantti]

One of the easiest ways to start is to look at nicehash.com and hashpower.co

Sit down, take cold beer and look at what is going on. Why is someone buying hash and what he/ she does with it. You will soon figure it out.

[macwika]

One of the easiest ways to start is to look at nicehash.com and hashpower.co

Sit down, take cold beer and look at what is going on. Why is someone buying hash and what he/ she does with it. You will soon figure it out.

For the Ethereum mining with Nicehash, Nicehash itself is the one buying the hash. We do not know what they do with it.

[malekbaba]

One of the easiest ways to start is to look at nicehash.com and hashpower.co

Sit down, take cold beer and look at what is going on. Why is someone buying hash and what he/ she does with it. You will soon figure it out.

For the Ethereum mining with Nicehash, Nicehash itself is the one buying the hash. We do not know what they do with it.

I think they are the middle man. They buy hashes @ low and sell hashes @ high. Profit . No ?

[basyaru]

I don't understand.
is there an coin more profitable to ethereum?
with GPU mining

I'm sure there are such coins.
But if you'll get the answer here like "Coin XXX has more profit that Ethereum!" it will not be profitable in few hours 

[sanadas]

One of the easiest ways to start is to look at nicehash.com and hashpower.co

Sit down, take cold beer and look at what is going on. Why is someone buying hash and what he/ she does with it. You will soon figure it out.

For the Ethereum mining with Nicehash, Nicehash itself is the one buying the hash. We do not know what they do with it.

I think they are the middle man. They buy hashes @ low and sell hashes @ high. Profit . No ?

For other algorithms such as X11, NeoScrypt or Quark, there are markets. But for Ethereum, it is just pool mining there.

[ilgio]

with GPU, the ethereum is more profittable coin? now?

[Oasisman]

with GPU, the ethereum is more profittable coin? now?

It is still the most profitable coin, but the profitability is dropping fast. There are too many miners now for this coin.

[malekbaba]

Eth is still the most profitable if you trade on daily basis. The price is dropping and difficulty is rising. In both case we are losing.

[Tmdz]

with GPU, the ethereum is more profittable coin? now?

It is still the most profitable coin, but the profitability is dropping fast. There are too many miners now for this coin.

If there is a more profitable coin once it get discovered by the masses the hash rate will sky rocket and everyone will dump the coin killing the market.  That is if enough coin can be mined in relation to market cap and total supply where it will be damaging.  Well stick with ether and once the profit gets very slim look at other coins but don't expect any help here, if someone is mining profitable coin they don't want any more mining on it raising the diff/ dumping the coin killing the market.