ETH switch to PoS will kill GPU mining but everybody seems pretty relaxed

[WellShyte]

be scared then an quit , gpu mining is going NOWHERE in fact its making an even bigger com3back next year
its harder to centralize than bitcoin , x11 and scrypt so it will only get bigger as new projects are developed when eth goes away.

I was hoping wise minds of this forum will overturn my arguments and prove me wrong and I could go on building my awesome rig. That hasn't happened yet. You are very emotional, almost religiously defending your optimism. Numbers speak other language tho. The argument "there will be always other coins to mine" doesnt cut it. Just compare network hashrates. ETH has 100 TH/s, next contender is ETC with 8 THs, rest are even not worth mentioning. After ETH goes PoS, all of those gpu-s that are part of this 100 TH/s are goint to look for "other coins to mine". It's ridiculous. There's not enough money in other coins to make this computing power profitable. How do I get this through to you people? Let's try a simpler analogy:

There are two cities next to each other.

City 1 has 100 car repair shops (miners) that cater 100,000 cars (hashrate need).
City 2 has 10 car repair shops that cater 10,000 cars.

Now, all of the sudden, all cars in the bigger city cease to exist (ETH stops needing miners). According to your logic the 100 car repair shops in bigger city will be fine, because there will always be cars that need repairing in the smaller town.

[Marvell2]

A 5 post idiot , idk who you think you are fooling with the FUD weve seen it back in 2013 dogecoin, etc
people thought gpu mining was over yet another false alarm keep posting FUD all you will earn is an ignore

Again theres nothing to see here if youre so confident wtf are you here posting anyway

I wont try and dumb it down any further btw The measure of hashrate TH in Eth and Etc does not correspond to the hashrate of other alts like monero, zcash , btg and countless others its apples to fucking oranges

al least get your facts right genius

Etc has leas hashpower pointed to it that zcash for example by a large margin

[WellShyte]

Again theres nothing to see here if youre so confident wtf are you here posting anyway

As I said in my previous post, I'm here in hopes of someone overturning my arguments. I want to start mining but it has to be an informed decision.

And yes, I was mistaken when comparing hashrates. I admit it. Thanks for pointing out.

So, can anybody say how does ETH computational power compare to all the rest of the coins? It feels like most gpu miners mine ETH. How much would other coins hashrates increase on average if all ETH miners would join other coins?

[Tidsdilatation]

No one really mines ETH... There are way more profitable coins to mine. I dont see your correlation with GPU Mining Dying....

[WellShyte]

No one really mines ETH... There are way more profitable coins to mine. I dont see your correlation with GPU Mining Dying....

I got my numbers wrong last time so lets try again. Lets convert nethash to number of gpus, for simplicitys sake for example rx470

Some most popular coins amount gpu-miners - zcash, monero, etc

Zcash     Nethash 335 Mh/s    Hashrate per gpu  260 h/s     Number of rx470 eqivalent gpus   1,300,000
Monero   Nethash 250 Mh/s    Hashrate per gpu  660 h/s     Number of rx470 eqivalent gpus      380,000
ETC        Nethash 8 Th/s        Hashrate per gpu  26 Mh/s     Number of rx470 eqivalent gpus      307,000

And ETH: Nethash 100 Th/s  Hashrate per gpu  26 Mh/s       Number of rx470 eqivalent gpus   3,850,000

So, claim that noone is mining ETH isnt exactly true.

[RealSwissMiner]

No one really mines ETH... There are way more profitable coins to mine. I dont see your correlation with GPU Mining Dying....

ETH has a net hash of roughly 100TH which would equal 3.3 Mio GPUs mining at 30 MH/s (RX 470/480 or RX 570/580).
I suppose that most of these GPUS are in the team red camp. If ETH goes to PoS these GPUs will switch to something else but all Equihash coins are basically a bad choice.. high consumption and rubbish hash rate. Cryptonight would be another viable algorithm for them.

It would also be interesting to know how many of these GPUs are commercial/farms and how many are operated by individuals. Both have different thresholds on when to stop mining.

Over the course of the next 6 months I expect that everything stays relatively stable (similar to the period August-November)

[treanski]

No one really mines ETH... There are way more profitable coins to mine. I dont see your correlation with GPU Mining Dying....

I got my numbers wrong last time so lets try again. Lets convert nethash to number of gpus, for simplicitys sake for example rx470

Some most popular coins amount gpu-miners - zcash, monero, etc

Zcash     Nethash 335 Mh/s    Hashrate per gpu  260 h/s     Number of rx470 eqivalent gpus   1,300,000
Monero   Nethash 250 Mh/s    Hashrate per gpu  660 h/s     Number of rx470 eqivalent gpus      380,000
ETC        Nethash 8 Th/s        Hashrate per gpu  26 Mh/s     Number of rx470 eqivalent gpus      307,000

And ETH: Nethash 100 Th/s  Hashrate per gpu  26 Mh/s       Number of rx470 eqivalent gpus   3,850,000

So, claim that noone is mining ETH isnt exactly true.

risk it or leave it but stop this bullshit im getting headache

[WellShyte]

risk it or leave it but stop this bullshit im getting headache

Learn to differentiate between risk and negative outlook. I don't have a problem with risk.

[Xazax310]

FYI there are quite a few ETH based coins out there, DBIX,UBQ,EXP, etc just because ETH goes and everyone switches there such a variety of coins that it all comes down to what will be the most profitable coin at that moment when ETH does go POS. Then yes that coins hash is going to get hammered by so many miners switching over. In respect to other people are saying you are not understanding their point, there are SO many coins that when POS comes everyone switches and various coins go up, but its more spread out. i suspect others just might quit and sell, I'm sure a few have during the time of the byzantine Update, I didn't mine ETH i switched to Zcash, so I wold just look at that period and see where some hash power went to.

[teo220]

I wonder when it be carried out.
Last year , they said eth will switch to POS but we are along with 2018 but no one can say exact date. I think it will be in 2019

[Marvell2]

op is determined to overthink things, no one can predict the future of course
but if youre that risk averse you need some phanton analysis to know if you shouls gpu mine or not
maybe you should trade 

[WellShyte]

I don't mind high risk if there's high reward. Right now mining profitability largely depends on coins value increase. If the price stays same and difficulty increases, ROI is nearing 2 years, which is not that appealing, considering the equipment might not live much longer. So profit largely depends on coins value increase, which in turn means buying the coin is pretty much as profitable as mining. The difference is lack of elbow grease and no risk of some huge turd hitting the fan (like 3.8 million GPU-s migrating to your favourite coins). Of course this is just my opinion, I created this thread because I thought maybe I'm missing something and my grim analysis is flawed...

[jyakulis]

let em go POS. without miners to hype their coin let's see how it goes. everyone is moving on to other projects.

[warrior333]

The transition to POS is probably lobbying for the miners. I am not afraid. For me it would mean that this coin is for me ceased to exist. If I like a lot that Ethereum will die. If not then it means they are right. I still don't trust the Ethereum and therefore do not keep their reserves in this coin. Sometimes I produce and from the change in bitcoin. Now get another coin. It all depends on our actions.

[ozkan_samet]

I think there will be a lot of coin to mine .. Eth pos is not end of the earth

[percy_tc]

So here I am, planning my new gpu mining rig, when I stumble upon this ETH switching to PoS news, and it's looking terrible for gpu mining. So I open the forums expecting a wide spread panic, but there are even now topics on front page about it. On other topics, hero members are expressing their belief that "gpu-mining will flourish in 2018".

What news mate??

[WellShyte]

What news mate??
[/quote]

Google "eth swith to pos". Nobody knows when it will happen exactly but I think the probability of it happening within next few months is pretty high. They are already testing the soft.

[sundownz]

No one really mines ETH... There are way more profitable coins to mine. I dont see your correlation with GPU Mining Dying....

I got my numbers wrong last time so lets try again. Lets convert nethash to number of gpus, for simplicitys sake for example rx470

Some most popular coins amount gpu-miners - zcash, monero, etc

Zcash     Nethash 335 Mh/s    Hashrate per gpu  260 h/s     Number of rx470 eqivalent gpus   1,300,000
Monero   Nethash 250 Mh/s    Hashrate per gpu  660 h/s     Number of rx470 eqivalent gpus      380,000
ETC        Nethash 8 Th/s        Hashrate per gpu  26 Mh/s     Number of rx470 eqivalent gpus      307,000

And ETH: Nethash 100 Th/s  Hashrate per gpu  26 Mh/s       Number of rx470 eqivalent gpus   3,850,000

So, claim that noone is mining ETH isnt exactly true.

There are a lot more algos... Lyra2v2 has the equivalent of ~800,000 pcs RX470 in hash-power on WhatToMine (adding up everything except Nicehash).

Go over to ZPOOL and you'll see other popular algos like SIB, Blake2s, Xevan, X17, Skein, Timetravel, etc, etc.

I believe soaking up the GPUs from ETH can be done... although I would bet a lot of them would just get sold off since the AMD cards aren't terribly strong on many of the other algos and AMD is the majority of ETH mining.

Sure... there is risk that ROI will go down, obviously, but my operation could take a 10x reduction in profit before it became completely useless (e.g. Power costs more than profit).

[zorvalth]

POS= piece of shit

No pos coin does well.

Just put your money in US bond.

ETH SWITCHING will kill the coin.  They will drag it out longer and xmr  zec and btg will take over and replace it and I used and a lot in this sentence 

i AGREE they already lost alot of hash rate and momentum with thier last fork/payout reduction  .. if you notice the ETH hashrate has actually gone down  the last few months bascially flat

they go POS they will probbaly die IMO too

mhm......



5-8% maybe?

[Proc.dev]

Ethereum was very good for mining. But now there are many other coins for mining with profit. Of course mining profitability probably decrease two times at least, but it still will be high enough. The time of super-profits will over soon