Why is Ethereum actually the only cryptocurrency worth GPU mining?

[acaciosc]

I don't understand why others ASIC resistant cryptocurrencies such as Vertcoin and Monero aren't worth mining. At all. It's not worth buying a high-end GPU to mine these coins even for those who don't have to pay for electricity bill. But I do. And it's pretty expensive here (~$0.121) .

I'm about to buy (1) R9 280x HIS R9 280X IceQ Boost Clock 3GB GDDR5 PCI-E DLDVI-I/HDMI/2xMini DP + (1) 750W PSU. I'm confident that I will be able to ROI, but it seems too risky because nothing else is worth mining with it besides Ethereum.

[Tmdz]

Its a combo of the coin price, mining rewards and difficulty.

It will take a long time to roi if you don't own any preexisting gear already.  The 280x only hashes about 20 mh and if you spent 80 for the psu and 200 for the gpu that's $280, so you are looking at more than 3 months with free electricity.  Which I guess isnt bad but not that long ago you could payoff gpu's in about a month, also difficulty is continuing to rise more with the high value of eth.

[Amph]

Its a combo of the coin price, mining rewards and difficulty.

It will take a long time to roi if you don't own any preexisting gear already.  The 280x only hashes about 20 mh and if you spent 80 for the psu and 200 for the gpu that's $280, so you are looking at more than 3 months with free electricity.  Which I guess isnt bad but not that long ago you could payoff gpu's in about a month, also difficulty is continuing to rise more with the high value of eth.

you don't need to roi on equipment, only on gpu, equipment are always useful for future upgrade and future mining

everyone here is talking like the mining will die after ethereum, there is nothing more wrong

we will talk about another more profitable coin in 1-2 years, guaranteed...

[acaciosc]

Its a combo of the coin price, mining rewards and difficulty.

What about market cap?

[acaciosc]

everyone here is talking like the mining will die after ethereum, there is nothing more wrong

we will talk about another more profitable coin in 1-2 years, guaranteed...

How can you be so sure?

[Amph]

everyone here is talking like the mining will die after ethereum, there is nothing more wrong

we will talk about another more profitable coin in 1-2 years, guaranteed...

How can you be so sure?

because it happened like 3 times already or maybe even more? since 2013 there was always something to mine form time to time, it's not like ethereum was the only coin profitable since altcoin scene went all out

[acaciosc]

everyone here is talking like the mining will die after ethereum, there is nothing more wrong

we will talk about another more profitable coin in 1-2 years, guaranteed...

How can you be so sure?

because it happened like 3 times already or maybe even more? since 2013 there was always something to mine form time to time, it's not like ethereum was the only coin profitable since altcoin scene went all out

So what? Just because it happened 3 times previously it doesn't mean that it will be the very same thing from now on. I wish I could be that confident.

[adaseb]

Its sound like you want a guaranteed investment and its not the way it works.

Its like the stock market, investment is always risky and you can lose everything.

Right now mining ETH is like free money, and who doesn't want free money. Opportunities like this are always short lived.

[Unacceptable]

everyone here is talking like the mining will die after ethereum, there is nothing more wrong

we will talk about another more profitable coin in 1-2 years, guaranteed...

How can you be so sure?

You can't.....last big profit coin to GPU mine was well over a year ago.It just appears to be a "cycle".

I read up on quite a few altcoins (over 150) over the past several years & thought a few had it in them to go big,but nope......not sure why they didn't.....

Eth is a fluke that actually may move up past or equal to BTC,whoda thunk?? 

At least GPU's "store" their value in resale 

[limbaugh]

At least GPU's "store" their value in resale 

At least until the new gen are released in a few months. Then the resale plummets. Too risky.

[Kray]

Ethereum still worth because

1. Coin price
2. Difficulty

it's still profitable with R9 280 until three month from now

[limbaugh]

it's still profitable with R9 280 until three month from now

Let's revisit this post after the DAO sale ends.

[antantti]

At least GPU's "store" their value in resale 

At least until the new gen are released in a few months. Then the resale plummets. Too risky.

What was the last GPU you owned?

[limbaugh]

What was the last GPU you owned?

Got a basement full of 280x and 7970's

[Unacceptable]

At least GPU's "store" their value in resale  

At least until the new gen are released in a few months. Then the resale plummets. Too risky.

What was the last GPU you owned?

Well,my 7970 was bought in 2012 for $325,still worth $100-150 today,after making over $1200 in BTC/Doge/FTC/ETH  

6950's did ok,made about $600+ each & resold for $50  

Soooo,what's this about resale value  

[antantti]

At least GPU's "store" their value in resale 

At least until the new gen are released in a few months. Then the resale plummets. Too risky.

What was the last GPU you owned?

Well,my 7970 was bought in 2012 for $325,still worth $100-150 today,after making over $1200 each in BTC/Doge/FTC/ETH   

6950's did ok,made about $600+ each & resold for $50 

Soooo,what's this about resale value  

Doesn't look like plummeting to me (smile). I have some 7970's I have been trying to sell but it looks like I can only dream about prices above 100...

[adaseb]

Even with new GPU generations out the value does't plummet. Its still worth close to 50% of what you paid.

[catlove]

I had most of the gear and bought a bunch of video cards a month ago, when I started it estimated I would pay my cards off in a month, now it says three. It's a fun hobby but at the rate difficulty is increasing its no big money maker.

[acaciosc]

Its sound like you want a guaranteed investment and its not the way it works.

Its like the stock market, investment is always risky and you can lose everything.

Right now mining ETH is like free money, and who doesn't want free money. Opportunities like this are always short lived.

This. But the simple fact of having to turn on mining rigs to run for 24 hours every single day is a red light to me. I mean... burned rigs are not so unusual. I'm not necessarily expecting a "get rich fast and free" scheme, but investing in equipments that theoretically can be very lucrative - or a nightmare - if you are disposed (and also able, of course) to discard a big amount of money, which could be better used for some important thing. So yes, I'm expecting a "guaranteed investment" (or at least close to this scenario). Even because I already got screwed in the cryptocurrency world when I went too far by investing in cloud mining. Yeap, that's a dumb thing to do, I know. I learned it the hard way.

I know that ETH is right now good to go. But that's it. The only option actually is Ethereum. Difficulty keeps rising astoundingly fast, so I expect it won't take so much time for it to stop being profitable. At least not for the average Joe, who needs to pay his electric bill, internet provider, etc..

[limbaugh]

I had most of the gear and bought a bunch of video cards a month ago, when I started it estimated I would pay my cards off in a month, now it says three. It's a fun hobby but at the rate difficulty is increasing its no big money maker.

Funny you would have been up 50% if you had just bought coins.

Its a mistake newcomers continue to make. Trying to get theirs but it already gone. Even after warnings from the community veterans.

Buy coins not gear.