Drop of hashrate for Polaris cards incoming

[bibyfok]

Edit2: I see no hashrate drop on my rigs whatsoever (6 x 480 8G cards). Still going strong 

The same here, I have gtx1070s and 1080ti's )))

What's the purpose on mining Ether with 1080ti ? You would gain a lot more $ with Zcash

[poby]

What I find both interesting and disturbing is the number of newbies who are so blinded by optimism they refuse to listen to any warnings.  The chances of turning a profit mining by December this year is very close to zero.  This is not some crazy prediction but is guaranteed to happen unless eth rises a lot between now and then.  A lot like 4 or 5 hundred percent.  If rises much less than that or just stays the same, it will most definitely, without any doubt be unprofitable in a few months unless you have really cheap electric in which case you will be making cents per card.

The unassailable logic:

Every single day, more miners come online causing difficulty to rise.  The only way that profit does not fall is if eth price rises in sync with the difficulty.  It's possible but extremely unlikely considering how much and how fast it has risen this year already.  The past week or so certainly shows little sign of an increase and we are already seeing mining profitability fall.

Buying the coins or building a rig, both depend on rising eth value to turn a profit.  Buying the coins seems a lot less risky in a business sense and probably more profitable in the long run.  But certainly not as sexy as a magic box that makes money.

Some of the really dumb things you hear often are along the lines of "If eth isn't profitable any more then I will mine other coins that are".  Why is it so hard to understand that when all the hashing power currently mining eth, moves to the other coins, their difficulty will skyrocket and their profitability will crash?  How can people be so totally blinded to these simple to understand concepts only because they don't like the conclusion?

This is not speculation, it is cold hard brutal reality.  Unless eth starts to skyrocket in price again, mining profitability will plummet, not just for eth but for all the coins.

Believe me, nothing would make me happier to hear a counter argument that ran contrary to the above and actually made sense.  But no, the optimists ignore all the evidence and rather than deal with the facts, prefer to simply ignore them as the rantings of chicken littles.

Obviously if you have dirt cheap electric you will do ok, but for most people who are stuck paying over 10 cents a kwh, GPU mining's end-of-days is almost upon us.

[topgeek]

Eth difficuly just jumped to 850.
It was 350 in May.

It is too bad sites like "what to mine" don't add in a graph showing profit declining with difficulty so the window lickers understand that each day's income declines.

They do the math on the "right now" number shown and go "hey my ROI is only XX days!".
Wrong.

[IamRune]

Supply and demand will probably drive the price higher.
When the difficulty quadruples I'll still be profitable with my setup.

Mining and selling for daily profits is never a good idea.

The real money made is mining a cheap coin and hoping for growth.

"When others are fearful, be greedy.  When others are greedy be fearful" - warren buffet

But I do agree the current "daily roi" is going to decrease 50% by December.


Advice to noobs - find a coin with a finite supply ( maybe hushcoin ) and point your miners at
That when they are unprofitable "daily" and hold for 3 years.

Thank me later.

[Pennywis3]

Supply and demand will probably drive the price higher.
When the difficulty quadruples I'll still be profitable with my setup.

Exactly.
Mining is more than 4 times more profitable than last year or beginning of this year.
And when the difficulty quadruples, if the ETH stays at this price, we will still be making more money than before

And, well, its gonna take a while to quadruple.

No need to panic, enjoy mining 

And if the time comes when its unprofitable, just shut down the rigs and wait for a few months or a year till the pump show starts again

Same like the miners with 79x0 and R9 series did 

[dbc23]

EVERYONE STOP BUILDING MORE MINING RIGS!

I need the profitability to hold out till August 29th so all of my gear is ROI 

[rednoW]

Edit2: I see no hashrate drop on my rigs whatsoever (6 x 480 8G cards). Still going strong 

The same here, I have gtx1070s and 1080ti's )))

What's the purpose on mining Ether with 1080ti ? You would gain a lot more $ with Zcash

Currently I'm not mining neither ETH nor ZEC with 1080ti. There are more profitable cases. But sometimes dualmining ETH+SIA or ETH+DCR can be rather good for gtx1080ti ))

[Merlig]

Maybe I overread it, but why is it only affecting AMD and not nvidia? Shouldn't ETH difficulty affect all GPUs?

[Mattthev]

Maybe I overread it, but why is it only affecting AMD and not nvidia? Shouldn't ETH difficulty affect all GPUs?

It does effect, but some more than the others.

[Juggar]

I just sold all 7 (all 4 Gb models) of my 470/480/570/580 for right over $400 each on average. Managed to nab 7 GTX 1070 fo $399.99 each (or less) in the past few days.

Feels damn good. Free upgrades all around.

[felixbrucker]

i'm still sitting here with 7970's and 290(x)'s

Hey man right now you may be safer then alot of people haha, your prob ROI on those cards and can always just (keep?) mining equihash or XMR ;p
very unknown times for the bigger AMD miners tho

yes indeed, 7970s mine mostly equihash, 7870s cryptonight, and the 290(x) eth, though the last might change soon due to the difficulty rise, we will see
cards have roi'd a long time ago

[adaseb]

i'm still sitting here with 7970's and 290(x)'s

Hey man right now you may be safer then alot of people haha, your prob ROI on those cards and can always just (keep?) mining equihash or XMR ;p
very unknown times for the bigger AMD miners tho

yes indeed, 7970s mine mostly equihash, 7870s cryptonight, and the 290(x) eth, though the last might change soon due to the difficulty rise, we will see
cards have roi'd a long time ago

Isn't equihash more profitable for your 7870? You should get close to 200h/s with them.

[felixbrucker]

i'm still sitting here with 7970's and 290(x)'s

Hey man right now you may be safer then alot of people haha, your prob ROI on those cards and can always just (keep?) mining equihash or XMR ;p
very unknown times for the bigger AMD miners tho

yes indeed, 7970s mine mostly equihash, 7870s cryptonight, and the 290(x) eth, though the last might change soon due to the difficulty rise, we will see
cards have roi'd a long time ago

Isn't equihash more profitable for your 7870? You should get close to 200h/s with them.

the two i own don't, they give only about 160-170

but yes, recently they mined equihash a lot as well

[QuintLeo]

the two i own don't, they give only about 160-170

but yes, recently they mined equihash a lot as well

 My 290s are mixed right now - got one rig of them still pointed to ETH mining, but the other 2 have moved over to GRC via BOINC and the MooWrapper project (that rig is very close to hitting #1 on the "top host" list).
 My R9 280x moved to GRC / BOINC / Milkyway though they spent a short time on MooWrapper before that.
 My HD 7870s and HD 7850 also moved to GRC / BOINC / MooWrapper.

 These were not moves due to greater profitability, they were moves due to "I can AFFORD to do this now".

 8-)

 I might move my RX 470s over to MooWrapper as well at some point, they have almost the same performance on that particular project as the R9 290s do.

[Mattthev]

I just sold all 7 (all 4 Gb models) of my 470/480/570/580 for right over $400 each on average. Managed to nab 7 GTX 1070 fo $399.99 each (or less) in the past few days.

Feels damn good. Free upgrades all around.

Great prices, we don't have 1070 for these good prices here

[felixbrucker]

I just sold all 7 (all 4 Gb models) of my 470/480/570/580 for right over $400 each on average. Managed to nab 7 GTX 1070 fo $399.99 each (or less) in the past few days.

Feels damn good. Free upgrades all around.

Great prices, we don't have 1070 for these good prices here

sold my 3 1070s for 350€ (~390$) each, here the competition is hard, you get them new for 395€

[Mattthev]

sold my 3 1070s for 350€ (~390$) each, here the competition is hard, you get them new for 395€

1070 all sold 1060 only with highest prices or 1 fan and ITX versions But lot of 1050 ti in stock

[adaseb]

the two i own don't, they give only about 160-170

but yes, recently they mined equihash a lot as well

 My 290s are mixed right now - got one rig of them still pointed to ETH mining, but the other 2 have moved over to GRC via BOINC and the MooWrapper project (that rig is very close to hitting #1 on the "top host" list).
 My R9 280x moved to GRC / BOINC / Milkyway though they spent a short time on MooWrapper before that.
 My HD 7870s and HD 7850 also moved to GRC / BOINC / MooWrapper.

 These were not moves due to greater profitability, they were moves due to "I can AFFORD to do this now".

 8-)

 I might move my RX 470s over to MooWrapper as well at some point, they have almost the same performance on that particular project as the R9 290s do.

What exactly is MooWrapper? Milkway?

Some type of Folding experiments?

[h311m4n]

Thank God I went Nvidia, fully justified. Nvidia always comes out on top one way or the other.

As soon as RX cards go the 7950/7970 way (13 mhs or lower) you'll see all Nvidia stock dry up for 1050ti, 1060 and 1070.

Lol...

You do not seem to realize that ETH is just one coin you can mine. Granted nvidia do better on coins like zec, but AMD is still the way to go for mining with the fastest ROI on most of the popular coins (granted, they need to be in stock for 200$ or less). This is what matters, ROI. Just mho, not saying I'm right, but this is how I see it.

Your nvidia cards won't matter with the artificial ETH difficulty increase anyway. POS will come soon and your nvidias won't be more usefull than AMD cards for mining the coin anyway.

[Vaccinus]

... it seems you all don´t get it:

You can´t escape the difficulty bomb !

Do your own research or cry later !

 

well it's not like ETH si the only coin that you can mine out there, plenty of choice are awaiting you, just mine somethign else, oh wait amd can not, because they are stuck with ETH, will be funny to see the huge hashrate desperately switch to another alt when ETH go pos