GPU Mining is Dead? Wait, I'm making more now?

[bearsworth]

I was thinking after the Ethereum reduction in Eth rewards GPU mining would be gone, but it looks like I'm making even more money now with Zcash and Monero. What's going on anyone else notice this?

Check it out:

https://whattomine.com/coins

[1715240751]

1715240751

[1715240751]

1715240751

[Vann]

By using only a limited number of variables that affect profitability, mainly difficulty and price, IMO mining calculators are too focused in ATM profitability and limited to be useful in showing what you really make. Miners that tend do best mine coins they believe them and hold for the long term. Also the ETH block reward wont be reduced until the next fork planned for the end of September.

[alani123]

Ethereum has a somewhat stable base of miners and thankfully this is benefiting other cryptocurrencies that are primarily mined by GPUs. However, ETH proved to be more beneficial to early miners and some still believe that it has potential for another rally. So while it doesn't mean other coins aren't more profitable in real time I think that more people are mining to hold ethereum.

[bearsworth]

Ethereum has a somewhat stable base of miners and thankfully this is benefiting other cryptocurrencies that are primarily mined by GPUs. However, ETH proved to be more beneficial to early miners and some still believe that it has potential for another rally. So while it doesn't mean other coins aren't more profitable in real time I think that more people are mining to hold ethereum.

Why would you do this when you can mine another coin to buy Ethereum?

[bearsworth]

By using only a limited number of variables that affect profitability, mainly difficulty and price, IMO mining calculators are too focused in ATM profitability and limited to be useful in showing what you really make. Miners that tend do best mine coins they believe them and hold for the long term. Also the ETH block reward wont be reduced until the next fork planned for the end of September.

Was it the difficulty increase? Something happened supposedly around August 24 right?

[adaseb]

ETH Difficult bomb went off yesterday. Instant 20% difficult jump. While at the same time ZEC and XMR went up 20%.

[Vann]

Ethereum has a somewhat stable base of miners and thankfully this is benefiting other cryptocurrencies that are primarily mined by GPUs. However, ETH proved to be more beneficial to early miners and some still believe that it has potential for another rally. So while it doesn't mean other coins aren't more profitable in real time I think that more people are mining to hold ethereum.

Why would you do this when you can mine another coin to buy Ethereum?

Mining other coins until I have enough to cash out, to then buy the coins I want introduces more variables and fees. Mining the coins I want directly allows me to better predict how may coins I can accumulate. Which since I'm not planning to sell, is my goal.

The most profitable coins ATM are usually the ones with the highest variability in difficulty and price fluctuations. Unless you have a farm that allows you to accumulate enough coins quickly to then cash out and buy the coins you want, IMO mining the coins you want directly is a better long term strategy. Even if ATM it's showing slightly less profitability. Which also means it will have a lower difficulty.

[QuintLeo]

ETH and ZEC are the "core" for the last few months of the "basket of similar profitability coins" - they're both well known, and as profitability in one rises a number of miners swap from one to the other causing profitability to even out.
XMR is part of that basket, but a bit less so since it has a significant presence of CPU miners not just GPU miners.

Most smaller coins are not part of the "basket", but sometimes one or most jump up for a short period to a higher level of profitability than the basket, and some of the smaller coins then end up IN the basket as they get better known due to that - though if they drop back on price enough they'll sometimes fall back OUT of the basket.

[jmigdlc99]

Actually, whattomine is not 100% accurate. Even tho ZEC and XMR may be higher on the profitability list, whattomine fails to take into account DUAL MINING. ETH can be dual mined with DCR or SIA and that should be added to the profitability calculations. In the end, ZEC and XMR still have more or less the same profit margins with ETH+dual mining.

[JagerTree]

ETH difficulty bomb going off and the price isn't increasing fast enough to keep it so profitable. 

https://www.coinwarz.com/difficulty-charts/ethereum-difficulty-chart

August 24th/25th you can see the difficulty spiked up.

[Vann]

Actually, whattomine is not 100% accurate. Even tho ZEC and XMR may be higher on the profitability list, whattomine fails to take into account DUAL MINING. ETH can be dual mined with DCR or SIA and that should be added to the profitability calculations. In the end, ZEC and XMR still have more or less the same profit margins with ETH+dual mining.

Dual mining hashrates varies depending on the GPU. Whattomine does have dual mining profitability calculators for ETH, ETC and EXP. You have to click on the 'ETH+', 'ETC+' or 'EXP+' tab at the top of the main page to get to the dual mining options.

[Skol600ml]

Actually, whattomine is not 100% accurate. Even tho ZEC and XMR may be higher on the profitability list, whattomine fails to take into account DUAL MINING. ETH can be dual mined with DCR or SIA and that should be added to the profitability calculations. In the end, ZEC and XMR still have more or less the same profit margins with ETH+dual mining.

You can calculate your dual mining, it's not that hard: https://whattomine.com/merged_coins/1-eth-dcr

[Beastty]

I still GPU mine

[Lumining]

I was thinking after the Ethereum reduction in Eth rewards GPU mining would be gone, but it looks like I'm making even more money now with Zcash and Monero. What's going on anyone else notice this?

Check it out:

https://whattomine.com/coins

You should only be concerned by this when you sell all your coins immediately after receiving them from your mining pool. You should think more about how much these coins may be worth if you keep them for some years.

[Dlugina23]

Whatomine show me profit but for some time i have less coin.

[boo50]

yep, and the great examples are Digibyte and Verge, both of them grow significantly this year, even at current rate they show so much grow VS jan-mar 2017.
but sometimes you need to wait 1-2 years =)

Dlugina23 - it depends on a lot of things - miners, pools, luck, etc etc

[Ben271286]

yep, and the great examples are Digibyte and Verge, both of them grow significantly this year, even at current rate they show so much grow VS jan-mar 2017.
but sometimes you need to wait 1-2 years =)

Dlugina23 - it depends on a lot of things - miners, pools, luck, etc etc

I guess thats the key! Learn to hold your coins and dont sell them directly! Thats the best way to gain the most profit!