Miningquestions (OP)
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March 23, 2017, 12:44:40 AM |
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Hi again everyone. I wasn't planning on doing another one of these but after doing a bit more research I'm getting a bit worried about the long term profitability of a mining rig.
It's already proven true that mining Ethereum is profitable right now but what are you guys going to mine after it switches to proof of stake?
I'm not sure if my sources are false but I've read that 1 sol == hash in Zcash and an rx 470 should produce about 30 sols per second. This means il be losing over 400 dollars a year. Even in monero at 550 hashes per second each il only be profiting 400 dollars a year apposed to Ethereums 1000 dollars a year. That profit for monero will probably even go down because many Ethereum miners will go there. Am I boned if Ethereum incorporates proof of stake unless I have like 12 graphics cards? Please tell me my math is wrong or I'm looking at the wrong altcoins because otherwise I'm not sure if buying 3 graphic cards now is worth it.
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Truthchanter
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March 23, 2017, 12:50:59 AM |
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Hi again everyone. I wasn't planning on doing another one of these but after doing a bit more research I'm getting a bit worried about the long term profitability of a mining rig.
It's already proven true that mining Ethereum is profitable right now but what are you guys going to mine after it switches to proof of stake?
I'm not sure if my sources are false but I've read that 1 sol == hash in Zcash and an rx 470 should produce about 30 sols per second. This means il be losing over 400 dollars a year. Even in monero at 550 hashes per second each il only be profiting 400 dollars a year apposed to Ethereums 1000 dollars a year. That profit for monero will probably even go down because many Ethereum miners will go there. Am I boned if Ethereum incorporates proof of stake unless I have like 12 graphics cards? Please tell me my math is wrong or I'm looking at the wrong altcoins because otherwise I'm not sure if buying 3 graphic cards now is worth it.
470/480 get about 300+ sol/s not 30
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Miningquestions (OP)
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March 23, 2017, 01:16:02 AM |
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Hi again everyone. I wasn't planning on doing another one of these but after doing a bit more research I'm getting a bit worried about the long term profitability of a mining rig.
It's already proven true that mining Ethereum is profitable right now but what are you guys going to mine after it switches to proof of stake?
I'm not sure if my sources are false but I've read that 1 sol == hash in Zcash and an rx 470 should produce about 30 sols per second. This means il be losing over 400 dollars a year. Even in monero at 550 hashes per second each il only be profiting 400 dollars a year apposed to Ethereums 1000 dollars a year. That profit for monero will probably even go down because many Ethereum miners will go there. Am I boned if Ethereum incorporates proof of stake unless I have like 12 graphics cards? Please tell me my math is wrong or I'm looking at the wrong altcoins because otherwise I'm not sure if buying 3 graphic cards now is worth it.
470/480 get about 300+ sol/s not 30 Are you sure? That would make it more profitable than mining Ethereum. Every Zcash forum i have read about the rx470/480 suggests that they average 30sols/s
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bughatti
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March 23, 2017, 01:17:43 AM |
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Hi again everyone. I wasn't planning on doing another one of these but after doing a bit more research I'm getting a bit worried about the long term profitability of a mining rig.
It's already proven true that mining Ethereum is profitable right now but what are you guys going to mine after it switches to proof of stake?
I'm not sure if my sources are false but I've read that 1 sol == hash in Zcash and an rx 470 should produce about 30 sols per second. This means il be losing over 400 dollars a year. Even in monero at 550 hashes per second each il only be profiting 400 dollars a year apposed to Ethereums 1000 dollars a year. That profit for monero will probably even go down because many Ethereum miners will go there. Am I boned if Ethereum incorporates proof of stake unless I have like 12 graphics cards? Please tell me my math is wrong or I'm looking at the wrong altcoins because otherwise I'm not sure if buying 3 graphic cards now is worth it.
470/480 get about 300+ sol/s not 30 Are you sure? That would make it more profitable than mining Ethereum. Every Zcash forum i have read about the rx470/480 suggests that they average 30sols/s Not sure what cards you are reading about but with my sapphire nitro+ rx 480 4gb elpida flashed card I can get 310 SOL/s per card
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dagarair
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March 23, 2017, 01:24:03 AM |
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simple. there will always be something to mine.
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jwarren81
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March 23, 2017, 01:44:33 AM |
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That's because zcash is more profitable to mine than Ethereum. Personally, I think anyone mining for profit that isn't mining multiple algorithms is leaving potential profit on the table. Most of the time right now my GPU miners (GTX 1070s) are mining Equihash, but today dipped into Neoscrypt and periodically switches to daggerhashimoto as those were the most profitable at the time. Nicehash is paying really well right now for X11 and Equihash, but once those reduce in profitability i'll switch back to zpool multi algo mining, or whatever comes along next. Mining for profit is a constantly changing landscape that you need to keep updated on. There's no one algo that pays the best all the time. Heck there's some lesser known one's like skein that have been killing it for the last couple months until the pump for zcash, dash and ethereum hit. Just keep watching the markets and keep switching! Jake Hi again everyone. I wasn't planning on doing another one of these but after doing a bit more research I'm getting a bit worried about the long term profitability of a mining rig.
It's already proven true that mining Ethereum is profitable right now but what are you guys going to mine after it switches to proof of stake?
I'm not sure if my sources are false but I've read that 1 sol == hash in Zcash and an rx 470 should produce about 30 sols per second. This means il be losing over 400 dollars a year. Even in monero at 550 hashes per second each il only be profiting 400 dollars a year apposed to Ethereums 1000 dollars a year. That profit for monero will probably even go down because many Ethereum miners will go there. Am I boned if Ethereum incorporates proof of stake unless I have like 12 graphics cards? Please tell me my math is wrong or I'm looking at the wrong altcoins because otherwise I'm not sure if buying 3 graphic cards now is worth it.
470/480 get about 300+ sol/s not 30 Are you sure? That would make it more profitable than mining Ethereum. Every Zcash forum i have read about the rx470/480 suggests that they average 30sols/s
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nu1mlock
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March 23, 2017, 01:50:45 AM |
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Are you sure? That would make it more profitable than mining Ethereum. Every Zcash forum i have read about the rx470/480 suggests that they average 30sols/s
Yes. The threads you've been reading is probably a couple of months old. Zcash is a new coin and a lot has happened since then. Just check the Claymore thread for ZEC, it clearly states more than 30 Sols/s for all its examples. As a quick example, my two R9 Fury Nitro's gets 460 Sols/s each when undervolted. So yes, I'm sure that you won't be getting 30 Sols/s with an RX 470. My 470 and 480 gets around 300 Sols/s. Stop looking at old threads on the Zcash forum.
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PovertyByte
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March 24, 2017, 09:57:36 AM |
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When more people get into mining it adds hash power so the difficulty target gets higher to solve the blocks Profits decrease
Be aware that the current profitability may not be the same in a month from now. If electric is expensive near you like it is for me than you don't want to get get stuck with GPU's that can't pay their own electric off
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Intristing
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March 24, 2017, 10:14:06 AM |
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When more people get into mining it adds hash power so the difficulty target gets higher to solve the blocks Profits decrease
Be aware that the current profitability may not be the same in a month from now. If electric is expensive near you like it is for me than you don't want to get get stuck with GPU's that can't pay their own electric off
As long as the total cryptocurrency market expands, there is always something to mine.
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RentGPU
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March 24, 2017, 05:04:54 PM |
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I don't think the profitability now will last long , it will decrease again until it reaches the what i call mining support point which is $1/card seems like the avarege electricity prices worldwide keep this support point from getting lower , the only thing that can break this $1/card/day is newer hardware getting out to the market...
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Rukusilf
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March 24, 2017, 05:07:02 PM |
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I don't think the profitability now will last long , it will decrease again until it reaches the what i call mining support point which is $1/card seems like the avarege electricity prices worldwide keep this support point from getting lower , the only thing that can break this $1/card/day is newer hardware getting out to the market...
That is right. A few weeks ago, the mining profit was less than $1/card.
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Ambros
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March 24, 2017, 05:08:32 PM |
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I don't think the profitability now will last long , it will decrease again until it reaches the what i call mining support point which is $1/card seems like the avarege electricity prices worldwide keep this support point from getting lower , the only thing that can break this $1/card/day is newer hardware getting out to the market...
That is right. A few weeks ago, the mining profit was less than $1/card. Mining gain is always volatile, as the whole crypto currencies are. It's impossible to do a precise forecast, the only think we can say for sure is that there always was a coin to mine and hopefully this trend will continue.
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Amph
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March 24, 2017, 05:46:47 PM |
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I don't think the profitability now will last long , it will decrease again until it reaches the what i call mining support point which is $1/card seems like the avarege electricity prices worldwide keep this support point from getting lower , the only thing that can break this $1/card/day is newer hardware getting out to the market...
it depend, last time mining was far less profitable not because there are many gpu, but because all coins were dumped, the diff can't keep with the value if investors go serious, like they are doing now and this is nothing, if for example 1B people invest in crypto, you would see crazy high value, and no matter how many rig you buy it would not compete whit the pump that would happen
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Intristing
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April 19, 2017, 04:38:01 PM |
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I don't think the profitability now will last long , it will decrease again until it reaches the what i call mining support point which is $1/card seems like the avarege electricity prices worldwide keep this support point from getting lower , the only thing that can break this $1/card/day is newer hardware getting out to the market...
it depend, last time mining was far less profitable not because there are many gpu, but because all coins were dumped, the diff can't keep with the value if investors go serious, like they are doing now and this is nothing, if for example 1B people invest in crypto, you would see crazy high value, and no matter how many rig you buy it would not compete whit the pump that would happen I think that will be a slow process. The difficulty will rise as the price increases.
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BitcoinNational
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April 22, 2017, 01:17:37 AM Last edit: April 22, 2017, 01:30:02 AM by BitcoinNational |
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SPAM https://bitcointalk.org/index.php?topic=1880484.msg18686599#msg18686599but Good Question --------------- The future of mining is up to the miners. You need/must invest capital in the coins themselve. Slash and burn too long. Leads to burnt out markets. simple. there will always be something to mine.
not if you let every ALT you rape die out after the hype cycle FOOLS you have: amateur miners (hobby mining) semi-pros who invest in hardware and run a profitable small business PROs = the industry = China semi-pros ... you are bankrupting your future. Unless you funnel back some of your gains to assure the midCaps you mine have healthy networks and markets. Plan ahead ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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RentGPU
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April 22, 2017, 11:23:56 PM |
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SPAM https://bitcointalk.org/index.php?topic=1880484.msg18686599#msg18686599but Good Question --------------- The future of mining is up to the miners. You need/must invest capital in the coins themselve. Slash and burn too long. Leads to burnt out markets. simple. there will always be something to mine.
not if you let every ALT you rape die out after the hype cycle FOOLS you have: amateur miners (hobby mining) semi-pros who invest in hardware and run a profitable small business PROs = the industry = China semi-pros ... you are bankrupting your future. Unless you funnel back some of your gains to assure the midCaps you mine have healthy networks and markets. Plan ahead ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Miners are not responsible about the die of any coin thats a misunderstanding , miners are doing there part of the job which is mining and it is essential for any coin , in order to do this job we invest a big money already in hardware and electricity bills, that part of investing in the coin itself isn't for miners thats the job of the market and coin devs to make thier coins useful for traders and investors, for miners after building thier costy rigs and paying for electricity bills it's time to gain some profit that's logic.
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Za1n
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April 23, 2017, 02:05:35 AM |
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Search the forums, these threads have been popping up since GPU mining began in 2011/2012. At first it was Bitcoin mining, then Litecoin, Dogecoin, etc, etc. Now its Ethereum, Zcash, and many others. Tomorrow it will most likely be coins we haven't even heard about yet.
Sometimes the profitability does drop to where mining margins are squeaky thin, but I believe the entire period has been profitable for those willing to keep their options open and move to the next coin when needed. There are of course no guarantees, but I suspect a year from now we will still be seeing these posts. The other thing to keep in mind is that unlike many other investments, most GPU based mining equipment holds good resale value for the gamer market. If you get even 50% ROI on your mining investment, worse case is you can recoup the other half on eBay.
The best strategy is to buy quality parts with good resale values, look for the most power efficient cards and search the forums on how to optimize your rig for the best power/hashrate you can get. For most people the electrical costs will be the deciding factor for their eventual breakeven point, so the more you can hedge your setups in favor of higher hashes per watt, the longer you can withstand a downtrend.
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Umotand
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April 23, 2017, 07:06:53 AM |
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Search the forums, these threads have been popping up since GPU mining began in 2011/2012. At first it was Bitcoin mining, then Litecoin, Dogecoin, etc, etc. Now its Ethereum, Zcash, and many others. Tomorrow it will most likely be coins we haven't even heard about yet.
Sometimes the profitability does drop to where mining margins are squeaky thin, but I believe the entire period has been profitable for those willing to keep their options open and move to the next coin when needed. There are of course no guarantees, but I suspect a year from now we will still be seeing these posts. The other thing to keep in mind is that unlike many other investments, most GPU based mining equipment holds good resale value for the gamer market. If you get even 50% ROI on your mining investment, worse case is you can recoup the other half on eBay.
The best strategy is to buy quality parts with good resale values, look for the most power efficient cards and search the forums on how to optimize your rig for the best power/hashrate you can get. For most people the electrical costs will be the deciding factor for their eventual breakeven point, so the more you can hedge your setups in favor of higher hashes per watt, the longer you can withstand a downtrend.
That is right. There will be new coins to mine when the old coins are not so profitable.
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vrap.pm
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August 03, 2017, 04:42:35 PM |
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Hello everyone, My first post here and already asking things... ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) I would like to ask dev to incorporate SIGT at Coinomi wallet. Thanks
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seattletu
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August 03, 2017, 05:07:23 PM |
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There is always a good chance existing in this mining of crypto currencies.Right now I am mining Monero coin and I am really pleased with the results.But we have to be carefully while choosing which alt coin to be mined.
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