Reentering mining - discussion about ETH, etc mining.

[pandemic]

I used to mine bitcoin and I loved it. I really wish I had learned about ETH before this past winter - I would have mined the shit out of it. I have a few questions.

How long do you expect GPU will be relevant to ETH mining? Is it worth getting into at this point or is it on it's way out?  Is ETH going to be mined with FPGA or ASIC in the future?

[1714805861]

1714805861

[Vaccinus]

ETH is at 75% of pos, after that will be no longer minable, better to prepare to focus on soemthing else, but well you have always ETC to choose or other dagger coins if you want to stick with amd gpu

[pandemic]

I heard about something to do with proof of work switching to something else but I don't really understand it. Wouldn't it be better to try to get some ETH now before that happens?

[bozton]

What is the condition for mining ethereum for now as bitcoin prices rise?

[pandemic]

I'm also curious about GPU mining. I understand that a GPU needs 2gb or more at this point but I don't know much more than that. Support for ETH seems shaky - no real mining calculators, etc.

[RentGPU]

I'm also curious about GPU mining. I understand that a GPU needs 2gb or more at this point but I don't know much more than that. Support for ETH seems shaky - no real mining calculators, etc.

Actually you need at least 4g card to mine eth because of the dag file size , and it's not smart move to learn about etherum mining now when it's going to POS ,ppl who want to get in gpu mining should wait now for the etherum and vega to see what will happen thats my opinion.

[spiz0r]

They always say POS is coming. When I started mining ETH in 2015 it was scheduled for 2016 summer / autum. I am sure ETH won't go to POS before 2018.
But don't think the actual profit rates will hold more than 2 months. If you check the hashrate growth at etherscan.io, you can see the hashrate incraised 50% since last month.  ( https://etherscan.io/chart/hashrate )

I still think it is worth starting mine now, but don't expect to get ROI after 4-8 months. If you like mining and get into this tech, try it. If you would only start mining for the money, I think you shouldn't.

[pandemic]

Yeah... I figured it'd only be enough time to mine 1-2 ETH. Really bummed I didn't find out about this 6 months ago. Just been off the cryptogrid.

4gb?! Jeeesus. I thought minimum was 2. Maybe I'll buy a new GPU... maybe not. Still rocking a 5850...or 70 and two 5830s.

Any speculation into what a good new cryptocoin will be?

[Jdope]

Yeah... I figured it'd only be enough time to mine 1-2 ETH. Really bummed I didn't find out about this 6 months ago. Just been off the cryptogrid.

4gb?! Jeeesus. I thought minimum was 2. Maybe I'll buy a new GPU... maybe not. Still rocking a 5850...or 70 and two 5830s.

Any speculation into what a good new cryptocoin will be?

You can try mining Zcash on old and cards, I think it's still possible and zcash is stable. Currently it's monero, zcash, eth and etc that are popular with eth being the most I think.

[pandemic]

jesus there are so many cryptos at $100ish now.

What's something I can mine with two 5830's and a 5870? ZEC seems to be cuda friendly.

Is ETH going to be mined with ASIC any time soon? Is it even possible?

[dbc23]

I'm also curious about GPU mining. I understand that a GPU needs 2gb or more at this point but I don't know much more than that. Support for ETH seems shaky - no real mining calculators, etc.

Actually you need at least 4g card to mine eth because of the dag file size , and it's not smart move to learn about etherum mining now when it's going to POS ,ppl who want to get in gpu mining should wait now for the etherum and vega to see what will happen thats my opinion.

What they said.

Although if you're really chomping at the bit, I'd say look into Nvidia and equihash/Lbry.  The cards will have higher resale, so there's less capital risk, and if/when Ether goes POS Nvidia cards will still have a hashing advantage, even though the pools will saturate with former AMD eth miners.

[Metroid]

I advise you to forget mining, look at the rate of buying and holding, returns are enormous, invest on xmr which i think is going to be the best cryptocoin after eth dies / goes to pos. Also after eth goes to pos, its price will crash so hard.

[pandemic]

what is the idea behind POS? Right now is proof of work but POS = proof of share?

[Metroid]

https://www.ethnews.com/proof-of-work-vs-proof-of-stake-explained

The more whale you are the more coins you will have or receive, the proof of work is about the more equipment you have the more you receive, pos is the more coins you have the more coins you will get. So meaning, pos is much worse than pow because is not about electricity prices, is not about where you live, is about how much money you have or you invested on it. Meaning POS is a safer whales playground. POS is all what whales want. Whales hate bitcoin because of that, they have the coins but they cant earn more by just holding them, if bitcoin was in pos then the whales would love it, that is why whales are investing heavily in eth, POW at least separate 2 groups, the whales and the miners, many miners dont care about holding the coins because they need to pay the bills, sell the coins to whales. POS is a greedy system.

So a whale with 100 coins + 1 gpu will mine as much as you do with 100 gpus + 1 coin.

[pandemic]

If that's the case... what's the point in even spending any?

[ebrain]

Is there a GPU mining rig that is worth investing at this time?

[Metroid]

If that's the case... what's the point in even spending any?

spending any? You mean sell any eth? if you meant that then that is what they want you to do. ETH while in POS, ETH devs will want you to race whales, whales will compete to each other, that is what they want but they plan will fail, because after the hype of the system is over, whales will not care anymore about racing each other and will start to sell all their coins to get out of this stupid never ending game. Devs think the game will continue on. I say it will fail, I guess we will have to wait and see. Devs need to understand that cryptocoins need miners and whales. We already have many scamcoins which is a whale only game and they failed. Hashrate supports, proof of work supports the price as equipment is costly, electricity is expensive. Crypto is about that, hardware and power. If you remove that then game is over. I hope ETH devs will come to a sense that system will fail. Anyway regardless of of what happens, there will be many other coins with proof of work or as hybrid, pow + pos. POS is the greatest bullshit in the cryptoworld.

[Tmdz]

jesus there are so many cryptos at $100ish now.

What's something I can mine with two 5830's and a 5870? ZEC seems to be cuda friendly.

Is ETH going to be mined with ASIC any time soon? Is it even possible?

ASIC is not possible at least for now.

ETH is a memory hard coin that requires a TON of memory bandwidth and the more bandwidth you have the more hash rate.  So for an ASIC to come out would required basically arrays of expensive memory modules plus a core processor for the algo part.  Even then the price to make an asic to mine eth would likely be too expensive and give no real advantage over GPUS.  ASiC's are only good when it comes to a coin requiring raw processing power on a specific algo.

Those gpu's are obsolete, buy something new.

ETH will not, I repeat will NOT be going full pos any time soon.  The devs will phase in pos rewards so by the time it does 100% pos if it ever does will be years from now.  Even then Ether will not put more risk then people will find acceptable considering there is billions of dollars at stake.

[pandemic]

Yeah, I have lifetime warranty on the 5830's so I'm trying to put them to work.

What's the most cost effective GPU these days for ETH?