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Author Topic: Question about rx 4XX viability post-PoS  (Read 845 times)
luluorban
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April 08, 2017, 03:14:39 PM
 #1

Hi everyone,

I recently got into the mining world. And i've decided to invest in a little rig for the moment ( 2 rx470 4gb) to do it as a hobby.
But as i heard about Eth going to PoS, how could mining on rx 4XX still be viable and profitable ? Because at the moment, 470 and 480 are very profitable because of the rise of Ethereum but once it passes on PoS we're are basicly screwed ?! ... So is it a good idea to invest now in these card and if no what would be the alternatives ?

Have a nice day,
Luluorban
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philipma1957
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April 09, 2017, 03:02:08 AM
 #2

Hi everyone,

I recently got into the mining world. And i've decided to invest in a little rig for the moment ( 2 rx470 4gb) to do it as a hobby.
But as i heard about Eth going to PoS, how could mining on rx 4XX still be viable and profitable ? Because at the moment, 470 and 480 are very profitable because of the rise of Ethereum but once it passes on PoS we're are basicly screwed ?! ... So is it a good idea to invest now in these card and if no what would be the alternatives ?

Have a nice day,
Luluorban

Xmr and Zec both are profitable.

Two card rig is not a lot of money.  Just mine and make some money for a while then decide in a few months if you want to expand.

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I mine alt coins with https://simplemining.net I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
Tmdz
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April 09, 2017, 05:10:22 AM
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In short it won't.

No one knows when eth will go pos, so enjoy the profit for now.
Ethereum has about 600k gpu's mining and by pos there will probably be over 1 million gpus on the network searching for profit elsewhere.

At that time big sell offs of gpus will happen this will be the resetting period of mining.
When the next profit coin hits then you hope to have gpus to mine with.


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April 09, 2017, 07:34:09 AM
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Basically right now the ETH mining rewards is like $1,500,000 daily.

With ETC, ZEC, XMR that figure is almost $2,000,000 daily. So if ETH goes POS, the daily mining reward will only be $500,000 from $2,000,000.

So if you make $4/day now for 2 GPUs, you will make $1/day then. So $0.50/per gpu/ per day.




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Wesarind
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April 09, 2017, 08:11:27 AM
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In short it won't.

No one knows when eth will go pos, so enjoy the profit for now.
Ethereum has about 600k gpu's mining and by pos there will probably be over 1 million gpus on the network searching for profit elsewhere.

At that time big sell offs of gpus will happen this will be the resetting period of mining.
When the next profit coin hits then you hope to have gpus to mine with.




I think 1 million GPU moving to the ZEC will raise the difficulty quite a lot.
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April 09, 2017, 08:17:59 AM
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Rx 470/480s are rather inefficient when mining other algos compared to Nvidia. I suggest having some Nvidia cards or wait for Vega unless your electricity is very cheap.

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luluorban
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April 09, 2017, 10:38:03 AM
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Two card rig is not a lot of money.  Just mine and make some money for a while then decide in a few months if you want to expand.

I know it's not a lot but when you're an IT student who makes around 100€ a month you can't invest a ton Grin
But i really think i will expand my rig later, the only thing that would make me not invest is if i can't get my money back at all


So if you make $4/day now for 2 GPUs, you will make $1/day then. So $0.50/per gpu/ per day.

So it will still be profitable but very low profit compare to now  Smiley


Rx 470/480s are rather inefficient when mining other algos compared to Nvidia. I suggest having some Nvidia cards or wait for Vega unless your electricity is very cheap.

That's what i was thinking to do after RoI to invest in some nvidia card so i can be "polyvalent" rig  Grin


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April 09, 2017, 12:32:16 PM
 #8

In short it won't.

No one knows when eth will go pos, so enjoy the profit for now.
Ethereum has about 600k gpu's mining and by pos there will probably be over 1 million gpus on the network searching for profit elsewhere.

At that time big sell offs of gpus will happen this will be the resetting period of mining.
When the next profit coin hits then you hope to have gpus to mine with.




I think 1 million GPU moving to the ZEC will raise the difficulty quite a lot.
Yeah, that's exactly what he was saying.. But I doubt that all those GPU will remain down for a long period, a new big coin should come out sooner or later
luluorban
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April 09, 2017, 01:41:52 PM
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Yeah, that's exactly what he was saying.. But I doubt that all those GPU will remain down for a long period, a new big coin should come out sooner or later

That's exactly what i'm thinking, there's too much hardware to just let it go down. Imo there's gonna be a little "downtime" for the shift to happen then there will be some huge chinese farmer that will speculate a money and make it become big  Smiley
Or it could also be that ETH will decrease in value drasticly and that ETC will be the new "king"

Tmdz
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April 09, 2017, 02:20:25 PM
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Yeah, that's exactly what he was saying.. But I doubt that all those GPU will remain down for a long period, a new big coin should come out sooner or later

That's exactly what i'm thinking, there's too much hardware to just let it go down.

There is no relation to a coin being profitable and lots of miners.

You actually want there to be a period with little profit so the global gpu amount can shrink back to a reasonable size.  So when mining becomes profitable you can jump on it and just switch your rigs on again.  This industry thrives on high growth.

If there is a high level of profit the miners will always eventually catch up and turn it into a cut throat industry with razor thin margins.

The good news is computers have reached a point where they will have marginal improvements, so your current rx 4xx gpus will be viable for a very long time.
drrobert
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April 09, 2017, 03:34:35 PM
 #11

Sorry for stupid question but what is it POS Huh why will be negative?
luluorban
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April 09, 2017, 03:55:20 PM
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Sorry for stupid question but what is it POS Huh why will be negative?

Right now we're in Proof of work and PoS is Proof of stake

https://en.bitcoin.it/wiki/Proof_of_work
https://en.wikipedia.org/wiki/Proof-of-stake

Basicly ETH won't be minable anymore after PoS
drrobert
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April 09, 2017, 04:42:58 PM
 #13

When will be this thing ?
Eth need people that mining or they lost power to make smart contracts /  Ethereum Virtual Machine, that will be very userfull in future. Eth it is not also crypto eat power but also build something userfull.
Wesarind
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May 31, 2017, 05:51:26 PM
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When will be this thing ?
Eth need people that mining or they lost power to make smart contracts /  Ethereum Virtual Machine, that will be very userfull in future. Eth it is not also crypto eat power but also build something userfull.

I think that is the reason why the ETH price is so high.
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