If BTC doesn't close this week above $3000 gpu mining is done

[puwaha]

b) I'm not Chinese, but my impression is in China, crypto is seen as way for ordinary people through their own efforts to make money. There is a tinge of hypocrisy for the PBOC to ban IOC's because of their "speculative" nature and that they don't want the "little people" to get scammed, but if you are a million/billionaire it's ok to buy, build, speculate on companies, real estate and blow money on whatever.

It is a bit disingenuous of the PBOC to ban IOCs and Bitcoin exchanges while turning a blind eye to the Forex market in China, which is big business there.  Many common people put their savings into Forex trading instead of banks there, and bitcoin is just another currency.   I think bitcoin was just an easier target to tackle by the PBOC before cracking down on Forex later.

[Za1n]

You are 100% correct my friend. And because I like you I will buy all your 47x/48x/57x/58x for $100 each. Let me know whom do you want to use for escrow and let get this going.

Come on man. Stop scamming people. No one knows what will happen, but history has shown that as long as you mine continuously you will make ROI consistently.

Actually your very response is telling in and of itself.

You are not offering him current value for his cards of roughly $400 a piece, instead you are somewhat agreeing with his position by stating that you would only consider buying a rig in the current environment at a greater than 75% discount. If the mining outlook is so damn rosy offer him the going rate, after all "history has shown that as long as you mine continuously you will make ROI consistently".

[Marvell2]

GPU mining is about done in China. It won't be long before police starts shutting down big mines, and then difficulty will drop.

That would be a dream come true lol but i doubt it

[antantti]

Everyone is so in this China thing that they completely forgot this upcoming segwit2x split/ hardfork whatever that mess is. I mean, it was there all the time.

[Za1n]

GPU mining is about done in China. It won't be long before police starts shutting down big mines, and then difficulty will drop.

That would be a dream come true lol but i doubt it

Yes it would, but we can only dream.

I think most of this China is a lot to do about nothing. For one thing I think the word "Ban" either gets mistranslated or has another meaning in China than westerners take it. For most people once they hear the word Ban and think that's it, permanent shutdown of all things crypto in China forever.

The last time exchanges were supposedly "banned" it was more of a temporary suspension and they were told to cease the practice of 0 cost trading. When trading resumed with minimal trading fees in place, the large amounts of previous wash-trading was finally exposed and showed that China's previous dominance in crypotrading was overstated by several fold. This change caused the market to react to more real trading volume data and the price of Bitcoin and other cryptos started to increase, where they had previously struggled for over 2 years when China and its fake trading volumes were manipulating and holding down true price discovery.

So I think this time it is much the same. Exchanges will indeed shutdown, but I suspect the Chinese government will come up with some sort of license that an exchange need to qualify for to be re-opened. This will curtail much of the pure speculation type markets going on, ICOs as a recent example, and making crypto exchanges toe the line so to speak in regards to laws and regulations designed to protect investors. While a lot of people here might find that against the free spirit of crypto, you need to realize that in China a lot of working class people were the ones getting taken advantage of and losing their life savings by all these guaranteed get rich quick ICO schemes.

[QuintLeo]

"history has shown that as long as you mine continuously you will make ROI consistently".

 ONLY if you have a very cheap electric cost.

 There have been long periods where even 8 cent/kwh electric rate was enough to KILL profitability entirely (and keep in mind that 8c/kwh is BELOW AVERAGE for most areas).

[Johny101010]

You are 100% correct my friend. And because I like you I will buy all your 47x/48x/57x/58x for $100 each. Let me know whom do you want to use for escrow and let get this going.

Come on man. Stop scamming people. No one knows what will happen, but history has shown that as long as you mine continuously you will make ROI consistently.

Actually your very response is telling in and of itself.

You are not offering him current value for his cards of roughly $400 a piece, instead you are somewhat agreeing with his position by stating that you would only consider buying a rig in the current environment at a greater than 75% discount. If the mining outlook is so damn rosy offer him the going rate, after all "history has shown that as long as you mine continuously you will make ROI consistently".

Joke/Sarcasm

------------------------------------------

Your head

[grrrgrrr]

GPU mining is about done in China. It won't be long before police starts shutting down big mines, and then difficulty will drop.

They banned exchanges not mining.

Only trading against cny is banned.

Almost all mining hardware is china based, that alone will make sure they will not ban mining. Or maybe mining will only be allowed for government owned farms? (:

Yes, I would guess so. That means casual miners may be disconnected from the net.

ASIC mining of BTC/LTC/Dash is unlikely to stop since they are doing well. But for ETH, XMR, shitcoins or GPU coins, China doesn't make GPUs themselves so they might need a solid case about academic research, local economy or national security before mining them.

What they want from CNY exchange ban is to "control financial risk", or stop the money laundering craze and stop ICO scams. Once they realize that large mining farms can be used for money laundering they'll likely put the cuffs on it.


https://twitter.com/SimonDixonTwitt/status/909010478872928256/photo/1

They probably already do. There's rumor saying GFW will try to block bitcoin traffic. I hope that they'll try not to disrupt the bitcoin network.

[hanskan]

since 2014 there is always been something profitable to mine with GPU (apart from few months and depending on your electricity price)

Everyone is so in this China thing that they completely forgot this upcoming segwit2x split/ hardfork whatever that mess is. I mean, it was there all the time.

Yea, that's no far off and the funniest bit is that JAXX wallet may be even able to implement BCH before new fork LOL

[Za1n]

"history has shown that as long as you mine continuously you will make ROI consistently".

 ONLY if you have a very cheap electric cost.

 There have been long periods where even 8 cent/kwh electric rate was enough to KILL profitability entirely (and keep in mind that 8c/kwh is BELOW AVERAGE for most areas).

Actually that is not my quote, I was simply empathizing the quote from the poster whom I did quote in my post. Other than that, yes you are agreeing with what I was implying that mining profits are in no way guaranteed.

[Za1n]

You are 100% correct my friend. And because I like you I will buy all your 47x/48x/57x/58x for $100 each. Let me know whom do you want to use for escrow and let get this going.

Come on man. Stop scamming people. No one knows what will happen, but history has shown that as long as you mine continuously you will make ROI consistently.

Actually your very response is telling in and of itself.

You are not offering him current value for his cards of roughly $400 a piece, instead you are somewhat agreeing with his position by stating that you would only consider buying a rig in the current environment at a greater than 75% discount. If the mining outlook is so damn rosy offer him the going rate, after all "history has shown that as long as you mine continuously you will make ROI consistently".

Joke/Sarcasm

------------------------------------------

Your head

No, I know your post was sarcastic, but that does not detract from your implication that the original poster you were relying to was a "gloom and doomer" whom you thought needed to be ridiculed. Anytime that someone points out that mining profits are getting slim and that the days of profitability may be numbered I see a bunch of trolls pounce and all yell nothing to see here, all is well, mining will live on forever, anyone who says otherwise is a fudder. I do not know if it is simply pure trolling, mass delusions, or some other hidden agenda but any serious discussion of the matter seems impossible.

[philipma1957]

and  my  paid for 1080ti's are turning profit as I type.

If you paid $700 then you are deluding yourself, based on the data and profitability since june you never even got 50% out of the $700 with it.

Yeah. You are right but I started in April .  

I earn a new 1080ti every ten days for about 90 days .

I have 18 paid for 1080tis.

And they do not earn 10 to 15 a card each day anymore.

But they do earn 2 to 3 a card which is 30-50 a day

[samfcoin]

Actually I don't think so, GPU mining will always survive because some people get really low cost of electricity,they will happy if someone else stop mining and will buy their cards.

[killerelite]

Well yeah profitability will surely decrease but if u keep mining and holding different coins you might make a greater profit then u expected .
In my opinion price should decrease a lil so that hobby miners  go away :0

[maleemk]

I am very happy about the China situation regarding BTC. Its shows BTC resilience and technically this mess proves what is BTC is all about i.e, Decentralize CryptoCurrency.

[maleemk]

On the other hand gpu mining will never die, there are lots of fishes in this pond (about 800+ and still counting) to catch.

[philipma1957]

coinbase price = 4087

[rdluffy]

The market is not so volatile...
people are more volatile than anything

2 or 3 days is enough to think the whole cryptos are going to end, to stop mining etc

Cryptos up for months = cool, I love cryptos, Cryptos are the future

Cryptos down for 2 days = OMG run to the hills

[Marvell2]

The market is not so volatile...
people are more volatile than anything

2 or 3 days is enough to think the whole cryptos are going to end, to stop mining etc

Cryptos up for months = cool, I love cryptos, Cryptos are the future

Cryptos down for 2 days = OMG run to the hills

yup lol , my portfolio was at 10k friday now its back too 25k

panic in a volatile market is dumb , when stuff goes down near 100 percent in a few days you have to know its irrational fear and HODL

[Tmdz]

Yeah it take a while to re-program your brain for this market.  
Everyone thinks they are the genius investor when the market is in full bull mode but let panic selling freak them out.
When you have a solid portfolio with the mindset of im not touching a dime  for 3-10 years then the dips have no effect on you.


Anyway it seems that GPU mining is here to stay, the threat of asic seems to have some fairly solid nails in the coffin (for memory hard coins).  Bitmain the leader in asic production/development gave up trying to develop an asic and went the route of a "ready to deploy" gpu miner.  Of course that means profit will be getting squeezed extra hard over the coming months..