Is mining going to die soon?

[encryptblockr]

I don't mean die completely but with ETH announcing moving to POS
and am sure we have seen some new coins go along with fully POS or POS/MN without any POW
we might start to see some shift in the crypto space where people start to move away from POW gradually

What do you guys think?
Those who are long time invested heavily in mining farm, are you planning on sclaing up or down on operations as far as adding more rigs or selling off gradually?

Those about to enter the mining business, are you still going to do it or will you step back and watch what is going on for now?

Please pour in your thoughts

Thanks

[1715579519]

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[1715579519]

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[1715579519]

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[hashestohashes]

I don't think it will die completely.

[ZenFr]

I don't mean die completely but with ETH announcing moving to POS
and am sure we have seen some new coins go along with fully POS or POS/MN without any POW
we might start to see some shift in the crypto space where people start to move away from POW gradually

What do you guys think?
Those who are long time invested heavily in mining farm, are you planning on sclaing up or down on operations as far as adding more rigs or selling off gradually?

Those about to enter the mining business, are you still going to do it or will you step back and watch what is going on for now?

Please pour in your thoughts

Thanks

Don't be affraid with Ethereum PoS : it is promised since the Ethereum begining and it will never come.
These days are difficult for mining, like in the 2017 begining.
But mining can reborn later.

The problem currently is not only the alt price, but also the GPUs speculation on the GPU prices.

[Oakey22]

Mining is already dying on GPU's, ASICS are the future it seems. I honestly think ASICSS are making crypto centralised more and more though as normal people cant get hold of them because they cost so much

[mezzaluna]

Mining may still be profitable if you are mining efficiently. Mining take too much memory of CPU's which allows computers to work slower and prioritize mining. Mining rigs are provided for the sole purpose of mining and thru this rigs, we can gain profits and we can pay for the electricity we are using to mine alternate coins and other cryptocurrency that can be mined. Mining is still a good way to earn money but it will be slowest way to earn.

[Castle07]

No doubts dark times are coming, and not all of us will survive and see the rise of bitcoin.
So be it. Only smartest and tricky will be successful.
Good luck to all of us 

[baga105]

Well, Asic do not cost as much as the 6-7 GPU rig.. Do the math.. The only problem is, that most Asics are only compatible with 1 algorithm.. Thats the biggest problem of ASIC

[encryptblockr]

Well, Asic do not cost as much as the 6-7 GPU rig.. Do the math.. The only problem is, that most Asics are only compatible with 1 algorithm.. Thats the biggest problem of ASIC

I agree
and this is not bad
i feel like people releasing cryptos with new algo just so that people cant use their existing rigs to mine that coin
they want to make sure no one has any advantage from beginning

i feel that is bad mostly and good a little
but that it man
even in GPU same thing...many algos but at least one can have different varieties of rigs some with RX, VEGA and nvidias and be ready based on the algo

[treanski]

I don't mean die completely but with ETH announcing moving to POS
and am sure we have seen some new coins go along with fully POS or POS/MN without any POW
we might start to see some shift in the crypto space where people start to move away from POW gradually

What do you guys think?
Those who are long time invested heavily in mining farm, are you planning on sclaing up or down on operations as far as adding more rigs or selling off gradually?

Those about to enter the mining business, are you still going to do it or will you step back and watch what is going on for now?

Please pour in your thoughts

Thanks

GPU mining will die in 2018
GPU mining will die in 2019
GPU mining will die in 2020
GPU mining will die in 2021

[yasirsidds89]

no i don't think so but we have to be updated about mining and new technologies as the boom of crypto or bitcoin is over.
so for those who were dreaming that bitcoin will hit 100kusd its not gonna happen anymore with so many regulations in it...

[dhouse]

yep it is going to die soon, please send your old, worthless mining equipment my way, i'll take care of it for you. i'm just a nice guy like that

[hack4love]

Can someone explain to me how to do anything with dropping in price like that eth drop 100$ every 3 days

[Andrey2301]

Hello! Which is better to buy a miner ?? or wait until bitcoin is 50k?

[doktor83]

dark days are coming only for people who want to start the mining software and wait to get rich.

[Metroid]

Mining is already dying on GPU's, ASICS are the future it seems. I honestly think ASICSS are making crypto centralised more and more though as normal people cant get hold of them because they cost so much

So true, nowadays few mine bitcoin and many other coins, with cpu's, gpu's, anybody can mine it, asic only few. I'm not sure if gpu mining will survive 2018.

[Miningtry]

You can always mine for fun look on mining like a hobby.

[BennyT]

I don't get why GPU mining would die right now. It provides a service, GPU's are needed to do the work, and it's profitable. Everyone who says it will die is just going off the FUD of the market, not describing in any credible business sense why it would "die".

[Kozlov]

Mining is a hobby, and if it's profitable then that's a bonus for me.

At the moment I have a few small rigs, some 570s, 1070s and a 1070ti. Also an old R9-390 doing a bit of work.

[encryptblockr]

Mining is a hobby, and if it's profitable then that's a bonus for me.

At the moment I have a few small rigs, some 570s, 1070s and a 1070ti. Also an old R9-390 doing a bit of work.

You mind if i ask you what mining software you using for your R9 390?
and what coin are you using it to mine?

[flip4flop]

These questions are just post fodder.  The same question every week or every time the market dips if something else happens.  There are hundreds of coins to mine so ETH going to PoS whenever that happens is not going to kill mining.

[SoNiC_77Gr]

Hello my friends!

As every new one who thinking to start mining now, I also have a question.
I will buy this week my first two RX580 8GB and I'm just wondering.. is this a good move? Should I do it or not, should I try it and may in the near future will the profit be a little more?
I'm planning to buy another two of them soon, but may this is just one way road with "near death" and all this is happening without a purpose?

Thanks for you help!

[CryptoWatcher420]

Hello my friends!

As every new one who thinking to start mining now, I also have a question.
I will buy this week my first two RX580 8GB and I'm just wondering.. is this a good move? Should I do it or not, should I try it and may in the near future will the profit be a little more?
I'm planning to buy another two of them soon, but may this is just one way road with "near death" and all this is happening without a purpose?

Thanks for you help!

here some advise, do you own research and figure that out for yourself instead of trying to go by someone else opinion. if shit hits the fan youll try and blame them for giving you shit advise when you should have done the research yourself

[SoNiC_77Gr]

Hello my friends!

As every new one who thinking to start mining now, I also have a question.
I will buy this week my first two RX580 8GB and I'm just wondering.. is this a good move? Should I do it or not, should I try it and may in the near future will the profit be a little more?
I'm planning to buy another two of them soon, but may this is just one way road with "near death" and all this is happening without a purpose?

Thanks for you help!

here some advise, do you own research and figure that out for yourself instead of trying to go by someone else opinion. if shit hits the fan youll try and blame them for giving you shit advise when you should have done the research yourself

You have right in that point! I did a research from October 2017, but this thing now seems so unstable and I'm just asking an opinion from someone that is in this stuff way back before me.
As it seems right now it's not worth it to get in to this.. it's a big big choice in a very hard time!

[encryptblockr]

These questions are just post fodder.  The same question every week or every time the market dips if something else happens.  There are hundreds of coins to mine so ETH going to PoS whenever that happens is not going to kill mining.

Do you think it will affect?
Understand ETH is one of the major coins and most alts try to follow what the major coins are doing
also with many forks and airdropd and swaps
it is easy to diverge from POW to POS

[encryptblockr]

Hello my friends!

As every new one who thinking to start mining now, I also have a question.
I will buy this week my first two RX580 8GB and I'm just wondering.. is this a good move? Should I do it or not, should I try it and may in the near future will the profit be a little more?
I'm planning to buy another two of them soon, but may this is just one way road with "near death" and all this is happening without a purpose?

Thanks for you help!

With this ASIC miner you get 14TH/s
you need several GPUs to do that

https://www.amazon.com/gp/product/B075MH4HSL/ref=as_li_qf_sp_asin_il_tl

So makes one think of the future of GPU mining

[baga105]

Hello my friends!

As every new one who thinking to start mining now, I also have a question.
I will buy this week my first two RX580 8GB and I'm just wondering.. is this a good move? Should I do it or not, should I try it and may in the near future will the profit be a little more?
I'm planning to buy another two of them soon, but may this is just one way road with "near death" and all this is happening without a purpose?

Thanks for you help!

With this ASIC miner you get 14TH/s
you need several GPUs to do that

https://www.amazon.com/gp/product/B075MH4HSL/ref=as_li_qf_sp_asin_il_tl

So makes one think of the future of GPU mining

With this ASIC you can mine BTC only because it is made only for 1 algorithm
With GPU rx 580, you can mine Xy number of coins and differents algorithms

[encryptblockr]

Hello my friends!

As every new one who thinking to start mining now, I also have a question.
I will buy this week my first two RX580 8GB and I'm just wondering.. is this a good move? Should I do it or not, should I try it and may in the near future will the profit be a little more?
I'm planning to buy another two of them soon, but may this is just one way road with "near death" and all this is happening without a purpose?

Thanks for you help!

With this ASIC miner you get 14TH/s
you need several GPUs to do that

https://www.amazon.com/gp/product/B075MH4HSL/ref=as_li_qf_sp_asin_il_tl

So makes one think of the future of GPU mining

With this ASIC you can mine BTC only because it is made only for 1 algorithm
With GPU rx 580, you can mine Xy number of coins and differents algorithms

True but just showing the huge performance difference for ppl mining specific algo
amsure may people mine specific coin like zcash, ethereum, litecoin etc..i mean those are the major coins anyways
so imagine an ASIC for those? that is not even close for GPU

for me am still GPU because coins am interested in dont have ASIC

[baga105]

Hello my friends!

As every new one who thinking to start mining now, I also have a question.
I will buy this week my first two RX580 8GB and I'm just wondering.. is this a good move? Should I do it or not, should I try it and may in the near future will the profit be a little more?
I'm planning to buy another two of them soon, but may this is just one way road with "near death" and all this is happening without a purpose?

Thanks for you help!

With this ASIC miner you get 14TH/s
you need several GPUs to do that

https://www.amazon.com/gp/product/B075MH4HSL/ref=as_li_qf_sp_asin_il_tl

So makes one think of the future of GPU mining

With this ASIC you can mine BTC only because it is made only for 1 algorithm
With GPU rx 580, you can mine Xy number of coins and differents algorithms

True but just showing the huge performance difference for ppl mining specific algo
amsure may people mine specific coin like zcash, ethereum, litecoin etc..i mean those are the major coins anyways
so imagine an ASIC for those? that is not even close for GPU

for me am still GPU because coins am interested in dont have ASIC

There is no such ASIC for those kind of coins (Equihash, Ethash.. ETc)
And i guess there won't be any ASIC regarding those algorithms. Why?
1. Because Nvidia and AMD can close the factories then
2. All GPU miners will switch to some other algorithms and they will kill eachothers profits..

So if you are asking me, there will always be CPU/GPU mining.

Thats only my opinion.

[QuintLeo]

Mining won't die, but if the current price drops and resulting profitability drops continue, we probably will see some retrenchment and SOME of the "quick profit" types start dropping out.

I'm right on the edge of shutting down my A2 farm, even though Litecoin (like Ethereum) has not dropped as much from ATH as Bitcoin has.

[fanatic26]

1. Ethereum is not synonymous with the entire gpu mining ecosystem, it is just one of hundreds of coins.

2. ETH devs cant even get PoS working on their test net. You *might* see it by 2019 at this rate, but even then its just a hybrid system that is 10% PoS and 90% PoW still.

3. ETH, ZEC, and many other GPU algos are asic resistant. They are specifically built to not work with ASICs, and devs have come out saying they will change the algo if someone does figure out how to make an ASIC so its not even a concern.

4. ASICs can mine a single algo, but not a single coin. Theres a good dozen coins a sha256 miner can mine.

5. Dont invest any money into mining that you cannot afford to lose. Mining takes a large investment to properly get started. You shouldnt be mining and exchanging all of your coins, you should be mining and hodling as much crypto as possible. This is not a short month to month profit game, this is a long term slow play kind of thing if you want to make any real money.

[dhouse]

1. Ethereum is not synonymous with the entire gpu mining ecosystem, it is just one of hundreds of coins.

2. ETH devs cant even get PoS working on their test net. You *might* see it by 2019 at this rate, but even then its just a hybrid system that is 10% PoS and 90% PoW still.

3. ETH, ZEC, and many other GPU algos are asic resistant. They are specifically built to not work with ASICs, and devs have come out saying they will change the algo if someone does figure out how to make an ASIC so its not even a concern.

4. ASICs can mine a single algo, but not a single coin. Theres a good dozen coins a sha256 miner can mine.

5. Dont invest any money into mining that you cannot afford to lose. Mining takes a large investment to properly get started. You shouldnt be mining and exchanging all of your coins, you should be mining and hodling as much crypto as possible. This is not a short month to month profit game, this is a long term slow play kind of thing if you want to make any real money.

^^^everyone read this carefully.

also, I had no idea eth wasn't moving to 100% pos. can you show me where you saw that? it seems like there's no point to making a change like that, why not just keep it 100% pow?

[encryptblockr]

1. Ethereum is not synonymous with the entire gpu mining ecosystem, it is just one of hundreds of coins.

2. ETH devs cant even get PoS working on their test net. You *might* see it by 2019 at this rate, but even then its just a hybrid system that is 10% PoS and 90% PoW still.

3. ETH, ZEC, and many other GPU algos are asic resistant. They are specifically built to not work with ASICs, and devs have come out saying they will change the algo if someone does figure out how to make an ASIC so its not even a concern.

4. ASICs can mine a single algo, but not a single coin. Theres a good dozen coins a sha256 miner can mine.

5. Dont invest any money into mining that you cannot afford to lose. Mining takes a large investment to properly get started. You shouldnt be mining and exchanging all of your coins, you should be mining and hodling as much crypto as possible. This is not a short month to month profit game, this is a long term slow play kind of thing if you want to make any real money.

^^^everyone read this carefully.

also, I had no idea eth wasn't moving to 100% pos. can you show me where you saw that? it seems like there's no point to making a change like that, why not just keep it 100% pow?

https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ

[ferall]

Yes, on the 16th October 2020 at 01.23 it will all end.

[hack4love]

So this is all going to go away once proof of stake comes along. With proof of stake, you don’t actually solve any puzzles. You remove the puzzle solving element from the system and thus change the way the reward is distributed. So instead of proving how fast you can calculate with hashrate, you need to prove how much Ethereum you own. You do this with something called a master node. When you create a master node, you have to lock up a certain amount of Ethereum to prove that you have it and rewards are distributed according to how much proof of stake you have. One can create multiple master nodes with a lot of Ethereum inside and you’ll earn more through this method.

what is this Master Node  how it work i cant understand any thing

[Viecoin]

No mining is not going to die or I will be mining by myself. It is still profitable now but thoughts need be focused on hodl and not even much unnecessary trading as the exchange fees may hurt more.

[toptek]

No mining is not going to die or I will be mining by myself. It is still profitable now but thoughts need be focused on hodl and not even much unnecessary trading as the exchange fees may hurt more.

Same I'm not gonna stop because the coins drop in price mining is a hobby for most and if your coming into mining thinking your gonna make Millions then mining is not for you but you may but don't expect it to happen because it turns into a risk at some point.... I've been seeing mining is gonna die for years and it hasn't yet .

[FFI2013]

Everyone keeps asking the same shit again I've been mining for 4 years and every time the markets start to go down all you here is mining is going to die well I'll be here mining till the shit is dead or I'm dead see most ppl don't get it a lot of us are here because we love crypto and what it stands for not the money that's just a bonus also ETH is just one coin out of well I can't count them all

[blockchange88]

Everyone keeps asking the same shit again I've been mining for 4 years and every time the markets start to go down all you here is mining is going to die well I'll be here mining till the shit is dead or I'm dead see most ppl don't get it a lot of us are here because we love crypto and what it stands for not the money that's just a bonus also ETH is just one coin out of well I can't count them all

preach brother. i didnt throw a small fortuen at this game for quick gains. long term hodl and the enjoyment of troubleshooting and rig building.

[pickleburglar]

so imagine an ASIC for those? that is not even close for GPU

ASIC for those makes no sense, algorithms like dagger-hashimoto and cryptonight are 99% random memory access bound. You know what they call a memory IO ASIC? RAM. You're already using it.

ASIC's can make computation quicker and more efficient but all modern cards already have way too much processing power for these algorithms anyway.

[nsummy]

I don't mean die completely but with ETH announcing moving to POS
and am sure we have seen some new coins go along with fully POS or POS/MN without any POW
we might start to see some shift in the crypto space where people start to move away from POW gradually

What do you guys think?
Those who are long time invested heavily in mining farm, are you planning on sclaing up or down on operations as far as adding more rigs or selling off gradually?

Those about to enter the mining business, are you still going to do it or will you step back and watch what is going on for now?

Please pour in your thoughts

Thanks

Yes it will die completely.  Delete your account now and start investing in baseball cards and Beanie Babies.  Really no surprise that someone asking this idiotic question is part of a signature campaign for a masternode scam coin.  If you use "Deviantcoin" as your reference, then yes, there are plenty of new coins that are going directly to to POS/Masternode and skipping POW all together.  This is better known as a get rich quick scheme for the dev.

[KougarLOB]

...
These days are difficult for mining, like in the 2017 begining.
But mining can reborn later.

Current market trends more closely mirror of 2014 than 2017.  New year price spike followed by a long decline until flattening out the next year.  I hope we're not in for a two year crytpo-depression.
I was lucky to buy in July 2015, at the bottom the previous market cycle.

[ASIC Miners]

Everyone keeps asking the same shit again I've been mining for 4 years and every time the markets start to go down all you here is mining is going to die well I'll be here mining till the shit is dead or I'm dead see most ppl don't get it a lot of us are here because we love crypto and what it stands for not the money that's just a bonus also ETH is just one coin out of well I can't count them all

Haha yes it's like deja vu every single time

[ikicha]

With this current price, mining still not profitable if you pay electricity at @$0.1/kWh
so, i have a plan to hold coin until market recovery.
If not, maybe i decide to surrender

[hunterx2525th]

I don't think it will die we have more new altcoin every day for mining.

[jillscarbrough]

Everyone keeps asking the same shit again I've been mining for 4 years and every time the markets start to go down all you here is mining is going to die well I'll be here mining till the shit is dead or I'm dead see most ppl don't get it a lot of us are here because we love crypto and what it stands for not the money that's just a bonus also ETH is just one coin out of well I can't count them all

I still profit after calculated electricity bill and still save my profit in the wallet. still can buy GPU 2 pieces/month. profit or no depending your financial Management .when to sell coins, when to hold the coin. and when to switch coins manually. and depending on your management maintenance Rig. Good management of maintenance very influences to your profit.

[whycrypto]

There will always be new coins to mine so I don't think gpu will ever die. Asic's are so specialized, they seem to go obsolete pretty quickly.

[KenChanYu]

With this current price, mining still not profitable if you pay electricity at @$0.1/kWh
so, i have a plan to hold coin until market recovery.
If not, maybe i decide to surrender

It depend on the people on how they will handle mining. Lets say, it is hard for mining to die because their are many people who are still doing this. They are still holding their coins because of this lower price. But mining will be last long, I guess because helping people is the gosl of mining, so it is really impossible that mining will die.

[FullMooon]

Well As long there;s a cryptocurrency Mining cant be die so dont be afraid on that someone will do and think a solution about it. Patience And observation is the key trust Cryptocurrency Trust People who want to share knowledge to get all of us a profit. while thinking about mining will die try to invest and save money.

[Golftech]

How soon will you take into consideration OP? not just because this coin will convert into PoS means that every coins will turn as well, there's still profitable coin that will show up and mining will continue not unless the whole industry will declared that they will stop the chain, I still believe that
it wont affect the entire industry if Eth will turn to PoS another project will step up just like what Zcash for example and those coins that's still works
with mining algo..

[dohfish]

With this current price, mining still not profitable if you pay electricity at @$0.1/kWh
so, i have a plan to hold coin until market recovery.
If not, maybe i decide to surrender

How can you say that? Even here, paying 0.33USD per KWH im making more in profits than im paying for power - Show me any kind of business that can run on profit margins like that, to be realistic you should not really expect more than 20-30% off your total income as profits after you have paid your expenses, anything above that is MORE than good from a investment perspective.

[halker2010]

Gpu mining died in 2012 and again in 2013 yet we grasp the last bit of cryptos with all we have it really doesn't matter how many times gpu mining dies as long as there are devs and miners we do what we do.

[ismehmood]

Mining with gpu wont die the coming years. This year en coming year it will reacht its top. Sure it is not profitable with coins like ETH or Bitcoin. But using your rig to mine a coin that is still in it young days can be very profitable in the future.

[Riptide_NVN]

With prices in the toilet at least I won't owe the IRS a lot of income tax on this.  So I got that going for me.   

[Digital Drug Lord]

9 Vega 64 now struggle to make $9 a day

Think about that...

4 1080tis struggle to make $10 a day


Think about that....

Now ask your self will a Vega 64 ever go back to $499 in price?

[gotminer]

9 Vega 64 now struggle to make $9 a day

Think about that...

4 1080tis struggle to make $10 a day


Think about that....

Now ask your self will a Vega 64 ever go back to $499 in price?

Your problem is you that you think too much about it in fiat.  Who gives a fuck about fiat?

[Digital Drug Lord]

9 Vega 64 now struggle to make $9 a day

Think about that...

4 1080tis struggle to make $10 a day


Think about that....

Now ask your self will a Vega 64 ever go back to $499 in price?

Your problem is you that you think too much about it in fiat.  Who gives a fuck about fiat?

because $4000 worth of video cards struggles to make $9 a day. thats why

$4000 worth  of mining equipment  plus electricity cost for barley $9 a day? explain to me how the fuck anyone can decided to start mining or get into any investment without seeing how much you can make a day

[gotminer]

9 Vega 64 now struggle to make $9 a day

Think about that...

4 1080tis struggle to make $10 a day


Think about that....

Now ask your self will a Vega 64 ever go back to $499 in price?

Your problem is you that you think too much about it in fiat.  Who gives a fuck about fiat?

because $4000 worth of video cards struggles to make $9 a day. thats why

$4000 worth  of mining equipment  plus electricity cost for barley $9 a day? explain to me how the fuck anyone can decided to start mining or get into any investment without seeing how much you can make a day

I don't give a rats fuck about fiat.  I care about how much crypto I can earn in a day from my mining rigs.  The trade value to fiat is extremely volatile and will probably continue to be that way for quite some time.  You can't love it when it's high and hate it when it's low.  If you don't love it just as much when it's low, you're not in it for the right reasons and you're going to burn yourself badly.  So if I don't like the price today, I check it in a couple of weeks and see if I like it better.  No reason to obsess over it by checking it 20 times a day.

Let go of that emotional attachment to money that you have and you'll be way better off in the long run.

[Digital Drug Lord]

9 Vega 64 now struggle to make $9 a day

Think about that...

4 1080tis struggle to make $10 a day


Think about that....

Now ask your self will a Vega 64 ever go back to $499 in price?

Your problem is you that you think too much about it in fiat.  Who gives a fuck about fiat?

because $4000 worth of video cards struggles to make $9 a day. thats why

$4000 worth  of mining equipment  plus electricity cost for barley $9 a day? explain to me how the fuck anyone can decided to start mining or get into any investment without seeing how much you can make a day

I don't give a rats fuck about fiat.  I care about how much crypto I can earn in a day from my mining rigs.  The trade value to fiat is extremely volatile and will probably continue to be that way for quite some time.  You can't love it when it's high and hate it when it's low.  If you don't love it just as much when it's low, you're not in it for the right reasons and you're going to burn yourself badly.  So if I don't like the price today, I check it in a couple of weeks and see if I like it better.  No reason to obsess over it by checking it 20 times a day.

Let go of that emotional attachment to money that you have and you'll be way better off in the long run.

well you can mine for the future or mine for profits.

these cards might mine you alot of shit coins but wont make you daily money

[blockchange88]

9 Vega 64 now struggle to make $9 a day

Think about that...

4 1080tis struggle to make $10 a day


Think about that....

Now ask your self will a Vega 64 ever go back to $499 in price?

Your problem is you that you think too much about it in fiat.  Who gives a fuck about fiat?

because $4000 worth of video cards struggles to make $9 a day. thats why

$4000 worth  of mining equipment  plus electricity cost for barley $9 a day? explain to me how the fuck anyone can decided to start mining or get into any investment without seeing how much you can make a day

noob. you mad bro?

https://www.nicehash.com/miner/34RV1eTFYKFcx5AqF5rJTPB7KCbv4hdYk7

[ecoin_bestcoin]

POS doesn't work without good distribution of tokens/coins, so no mining will not die soon, there are many pros and cons to both POW and POS (as well as dPOS)

[Digital Drug Lord]

POS doesn't work without good distribution of tokens/coins, so no mining will not die soon, there are many pros and cons to both POW and POS (as well as dPOS)

who was the first one to create a master node? I keep seeing these nodes and how now the nodes are getting more and more of the miners block rewards. its like getting taxed for your hard work

isnt it like capitalism where one person with alot of money can now control most of the wealth and tax the hard working miner?

[encryptblockr]

With this current price, mining still not profitable if you pay electricity at @$0.1/kWh
so, i have a plan to hold coin until market recovery.
If not, maybe i decide to surrender

where are you getting that rate? what country? state? city?
is that residential rate?

[nsummy]

POS doesn't work without good distribution of tokens/coins, so no mining will not die soon, there are many pros and cons to both POW and POS (as well as dPOS)

who was the first one to create a master node? I keep seeing these nodes and how now the nodes are getting more and more of the miners block rewards. its like getting taxed for your hard work

isnt it like capitalism where one person with alot of money can now control most of the wealth and tax the hard working miner?

Dash was the first coin with a Masternode.  At its core, masternodes provide important functions that allow the instant and private sending of coins.  People who run masternodes are compensated because it requires a server to be online for 24 hours a day.  It also requires you to put up a certain amount of coins for collateral.  The payout on running a Dash masternode is about 8%.  Masternodes are required to put up a certain amount of coins to prevent bad actors from easily creating numerous masternodes.  The problem today is there are now a million shitcoins out there that no one will ever need to send instantly or privately, with ridiculous ROIs in the hundreds.  These drive up the value as people will be buying these coins to have enough for a masternode.  Devs also have found that creating a masternode coin is a quick way to get rich quick.  You often now see these premined coins where the dev will auction off 5 or 6 masternodes on Discord for 2-3 bitcoin each!

I wouldn't say Masternodes are like capitalism exactly.  Its really no different than a miner competing against someone who has a 100 GPU rig.  Like anything in life, the people with the most resources will gain the most when investing those resources.

[nsummy]

With this current price, mining still not profitable if you pay electricity at @$0.1/kWh
so, i have a plan to hold coin until market recovery.
If not, maybe i decide to surrender

where are you getting that rate? what country? state? city?
is that residential rate?

Why does it matter what city, state, country he is getting that rate?  Completely irrelevant.  Mining is still profitable at 10 cents a kWh

[MrN1ce9uy]

POS doesn't work without good distribution of tokens/coins, so no mining will not die soon, there are many pros and cons to both POW and POS (as well as dPOS)

who was the first one to create a master node? I keep seeing these nodes and how now the nodes are getting more and more of the miners block rewards. its like getting taxed for your hard work

isnt it like capitalism where one person with alot of money can now control most of the wealth and tax the hard working miner?

Capitalism and tax are on two separate ends of the economic spectrum. You should not associate one with the other. Socialism and communism are more aligned with taxation.

[encryptblockr]

There will always be new coins to mine so I don't think gpu will ever die. Asic's are so specialized, they seem to go obsolete pretty quickly.

New coins may start to move away from POW as well is the point here
One thing starts and everyone follows
sometimes you never know how much effect or influence something can have
and sometimes things go so fast because you have to react

which is point for this conversation
so we can think about it
yes it wont die, at least not right now
BUT if may slow down a lot in the coming 1 or 2 years if everyone starts to ditch POW

[encryptblockr]

I wouldn't say Masternodes are like capitalism exactly.  Its really no different than a miner competing against someone who has a 100 GPU rig.  Like anything in life, the people with the most resources will gain the most when investing those resources.

Well you cant hate on the people with most at the beginning
what you need to do is try to get in at the beginning as well

i mean i know it sucks but life is competitive man, and thank goodness we have charity and foundations to help other out but thats life man
for me i have accepted to find a way to get ahead rather than complain about others fortune

[ico41]

POS doesn't work without good distribution of tokens/coins, so no mining will not die soon, there are many pros and cons to both POW and POS (as well as dPOS)

who was the first one to create a master node? I keep seeing these nodes and how now the nodes are getting more and more of the miners block rewards. its like getting taxed for your hard work

isnt it like capitalism where one person with alot of money can now control most of the wealth and tax the hard working miner?

Dash was the first coin with a Masternode.  At its core, masternodes provide important functions that allow the instant and private sending of coins.  People who run masternodes are compensated because it requires a server to be online for 24 hours a day.  It also requires you to put up a certain amount of coins for collateral.  The payout on running a Dash masternode is about 8%.  Masternodes are required to put up a certain amount of coins to prevent bad actors from easily creating numerous masternodes.  The problem today is there are now a million shitcoins out there that no one will ever need to send instantly or privately, with ridiculous ROIs in the hundreds.  These drive up the value as people will be buying these coins to have enough for a masternode.  Devs also have found that creating a masternode coin is a quick way to get rich quick.  You often now see these premined coins where the dev will auction off 5 or 6 masternodes on Discord for 2-3 bitcoin each!

I wouldn't say Masternodes are like capitalism exactly.  Its really no different than a miner competing against someone who has a 100 GPU rig.  Like anything in life, the people with the most resources will gain the most when investing those resources.

I agree - I think the fundamental concept of the Masternode as a way to provide incentive to hold coins, and to help stabilize the currency in exchange for a return is fundamentally brilliant and innovated.  But it's become perverse where the DEV's pre-mine and then auction off the MN's on Discord, as I saw with Lizus and a few others.  I think this is somewhat of a recent trend, and I hope it doesn't continue. I actually don't think it will when these people who have paid several or even a large fraction of a bitcoin watch their MN investment evaporate in some months as the dev's and other dump their coins and disappear.  I'm not saying they all will - but I think there have already been cases of it happening fairly recently.

I completely get the fact that exchanges are now asking for hefty fees to get listed (which is why they claim they need to auction of the nodes), but why it is SO IMPORTANT to get on exchanges unless you plan to immediately speculate, drive the price up, and then cash out.  My question to the dev's would be - what about the actual use of the coin you are developing?  What has that to do with the exchange? 

I like coins that are back-to-basics types of released, like ROI and Raven.  Anyway ... even though I'm intrigued by the MN concept, I'm afraid it's getting somewhat ruined by these new trends.

[QuintLeo]

With this current price, mining still not profitable if you pay electricity at @$0.1/kWh
so, i have a plan to hold coin until market recovery.
If not, maybe i decide to surrender

where are you getting that rate? what country? state? city?
is that residential rate?

 10 cents per KWH?

 Lots of places offer that rate or lower for at least part of the year on residential service, and MORE on small business or "higher consumption" service types.

 Mining is VERY profitable at that rate if you run efficient or even semi-efficient rigs - for now.
It's just not AS profitable as a month ago, which might drive a few of the "get rich quick" types away.

[QuintLeo]

POS doesn't work without good distribution of tokens/coins, so no mining will not die soon, there are many pros and cons to both POW and POS (as well as dPOS)

who was the first one to create a master node? I keep seeing these nodes and how now the nodes are getting more and more of the miners block rewards. its like getting taxed for your hard work

isnt it like capitalism where one person with alot of money can now control most of the wealth and tax the hard working miner?

DASH/DarkCoin I think, but I'm not 100% sure.

[QuintLeo]

9 Vega 64 now struggle to make $9 a day

Think about that...

4 1080tis struggle to make $10 a day


Think about that....

Now ask your self will a Vega 64 ever go back to $499 in price?

Your problem is you that you think too much about it in fiat.  Who gives a fuck about fiat?

 The large number of us that have BILLS to pay.

[QuintLeo]

9 Vega 64 now struggle to make $9 a day

Think about that...

4 1080tis struggle to make $10 a day


Think about that....

Now ask your self will a Vega 64 ever go back to $499 in price?

 Not soon, if ever - but that's more about "no more low cost reference cards" and the 3'd party cards so far being much higher-end cooling and such that allow for higher PERFORMANCE as well, coupled with RAM price increases.

[QuintLeo]

Gpu mining died in 2012 and again in 2013 yet we grasp the last bit of cryptos with all we have it really doesn't matter how many times gpu mining dies as long as there are devs and miners we do what we do.

 It didn't die - it just lost all the "get rich quick" types and cut back to where EFFICIENT, LOW COST operations were the only ones that were profitable.

[wendybean]

It’s not necessary that the mining will die, unless whole of the Blockchain technology go vanish. Though it is a difficult time, when the prices of most trusted and known Bitcoin are getting down, but the mining will still be profitable if you mine correctly. Proper Mining rig setup allows the user to mine properly but at the same time the expenses of Electricity and power4 will surpass the profit that we earn. But you can mine other crypto coins with the mining rig, that will not surpass any of the expenses and no other Crypto needs this big setup to mine the block.

[gotminer]

9 Vega 64 now struggle to make $9 a day

Think about that...

4 1080tis struggle to make $10 a day


Think about that....

Now ask your self will a Vega 64 ever go back to $499 in price?

Your problem is you that you think too much about it in fiat.  Who gives a fuck about fiat?

 The large number of us that have BILLS to pay.

Everyone has bills to pay.  If you didn't over extend yourself to begin with (not saying you, just in general), you would have money to pay your electric costs out of other funds as opposed to cashing out crypto at the wrong time to do it.

[philipma1957]

9 Vega 64 now struggle to make $9 a day

Think about that...

4 1080tis struggle to make $10 a day


Think about that....

Now ask your self will a Vega 64 ever go back to $499 in price?

Your problem is you that you think too much about it in fiat.  Who gives a fuck about fiat?

 The large number of us that have BILLS to pay.

Everyone has bills to pay.  If you didn't over extend yourself to begin with (not saying you, just in general), you would have money to pay your electric costs out of other funds as opposed to cashing out crypto at the wrong time to do it.

There are lots of reasons to sell off gear. Then buy some back later.

In December I had 60k in gear and I now have 20k in gear.

But If I sell a pair of 1080tis for 1500 in btc  today at 10000 a btc  I get .1500 btc

If I sold a pair of 1080ti's at same price in december I get 0.0750 btc

In both case fiat is =  but btc 2x depends on how you think of it.

Fiat is a key part of your math  in this game.

Gear availability
gear reliability
power cost
coin prices
diff for coins

your ratio of gpu to asic to cash to debt to power cap to heat cap to cooling cap to diff to coin price all matters.

Mining will do fine for the time being.  But long run they may want to force out the smaller players.

[miakama]

It’s not necessary that the mining will die, unless whole of the Blockchain technology go vanish. Though it is a difficult time, when the prices of most trusted and known Bitcoin are getting down, but the mining will still be profitable if you mine correctly. Proper Mining rig setup allows the user to mine properly but at the same time the expenses of Electricity and power4 will surpass the profit that we earn. But you can mine other crypto coins with the mining rig, that will not surpass any of the expenses and no other Crypto needs this big setup to mine the block.

That is true if you can find a good coin to mine which does not have the ASIC.

[Metroid]

Yeah, it will die, as far as can tell, still no hope yet. Idiots paying $1000 for a rx 580, soon, will all commit suicide.

[gotminer]

Yeah, it will die, as far as can tell, still no hope yet. Idiots paying $1000 for a rx 580, soon, will all commit suicide.

Wonder if they'll start climbing the clock tower before or after you do. hehe

[Metroid]

Wonder if they'll start climbing the clock tower before or after you do. hehe

Nvidia is developing a gpu for cryptomining only which means, the end of gaming gpus will end soon, my hopes is gaming gpus will only be for gaming like it was meant to.

[gotminer]

Wonder if they'll start climbing the clock tower before or after you do. hehe

Nvidia is developing a gpu for cryptomining only which means, the end of gaming gpus will end soon, my hopes is gaming gpus will only be for gaming like it was meant to.

hehe

[blockchange88]

Wonder if they'll start climbing the clock tower before or after you do. hehe

Nvidia is developing a gpu for cryptomining only which means, the end of gaming gpus will end soon, my hopes is gaming gpus will only be for gaming like it was meant to.

hehe

you love pushing metroids buttons. lol.

[QuintLeo]

Wonder if they'll start climbing the clock tower before or after you do. hehe

Nvidia is developing a gpu for cryptomining only which means, the end of gaming gpus will end soon, my hopes is gaming gpus will only be for gaming like it was meant to.

Probability zero.

There are *3'd party* Nvidia card makers that have created mining-specific CARDS, but Nvidia doesn't consider the cryptocoin mining market to be enough of their market share to bother with mining-specific GPUs at all.

*AMD* might think about it - but even there it's doubtful, they have some strong memories of the 2014 GPU mining collapse and how sudden it happened.
AMD however has sold a significant number of their sales during 2017 to folks that made cards that were eventually sold to miners - possibly as high as a QUARTER of their sales - where the same figure for Nvidia is definitely less than 10% and more likely 5% ballpark during 2017.

[Metroid]

Probability zero.

https://www.techpowerup.com/241552/nvidia-turing-is-a-crypto-mining-chip-jen-hsun-huang-made-to-save-pc-gaming

Asics might come before this, so either this or asics.

[philipma1957]

Probability zero.

https://www.techpowerup.com/241552/nvidia-turing-is-a-crypto-mining-chip-jen-hsun-huang-made-to-save-pc-gaming

Asics might come before this, so either this or asics.

Asics blow they suck basic reason is terrible after market service and warranties.

Your article is interesting Nvidia makes a tweener chip only good for mining.

Well it means they believe in mining having enough legs to dent the gaming market.

I do want you to understand  I have quite a few gamer people I sell rigs to every one mines.  About 30 of 30 people.

Most do so while sleeping. So  Nvidia will do well to consider that gamers will be pissed  that their 2080 or 2070 or 2080ti  does not earn back coin to make it a cheap card.

Would love to see how it all unfolds.  I am cash heavy right now.

I sold 21 1070's
 I sold multiple  case builds
I sold a few 1080tis

 all of them sold  at prices just above retail after I mined them for 2-4 months.

I still have 28 1080tis left  I will hold them and mine them for a bit.

I am asic free other then  4 usb sticks from sidekick and 8 usb sticks from jestanop.

[Metroid]

I sold 21 1070's
 I sold multiple  case builds
I sold a few 1080tis

You are doing it right, better to sell now while there are idiots paying for those overpriced prices, cause very soon there will be plenty of gpus available for gamers.

[gotminer]

Probability zero.

https://www.techpowerup.com/241552/nvidia-turing-is-a-crypto-mining-chip-jen-hsun-huang-made-to-save-pc-gaming

Asics might come before this, so either this or asics.

That would be awesome, if/when it happens.

[manji]

I sold 21 1070's
 I sold multiple  case builds
I sold a few 1080tis

You are doing it right, better to sell now while there are idiots paying for those overpriced prices, cause very soon there will be plenty of gpus available for gamers.

why are you talking about idiots if anyone buys a GPU for the current price? And indirectly you say you're smart? everyone has his or her own motivation to buy the GPU.

I know, you reason a compare prices GPU and current coin revenue. but it no enough a reason to talks idiot. it could be the person you say an idiot, saying in his heart: you are more idiot.

[blockchange88]

Lol people are getting butt hurt over gpus. Relax guys. This is supposed to be fun. A learning experience.

[kunsh]

I don't mean die completely but with ETH announcing moving to POS
and am sure we have seen some new coins go along with fully POS or POS/MN without any POW
we might start to see some shift in the crypto space where people start to move away from POW gradually

What do you guys think?
Those who are long time invested heavily in mining farm, are you planning on sclaing up or down on operations as far as adding more rigs or selling off gradually?

Those about to enter the mining business, are you still going to do it or will you step back and watch what is going on for now?

Please pour in your thoughts

Thanks

I don't mean die completely but with ETH announcing moving to POS
and am sure we have seen some new coins go along with fully POS or POS/MN without any POW
we might start to see some shift in the crypto space where people start to move away from POW gradually

What do you guys think?
Those who are long time invested heavily in mining farm, are you planning on sclaing up or down on operations as far as adding more rigs or selling off gradually?

Those about to enter the mining business, are you still going to do it or will you step back and watch what is going on for now?

Please pour in your thoughts

Thanks

Mining won't die completely almost ever, at least in next 5-6 years. there always will be some coins which coul'd be mined. I was mining BTC with graphic cards back at 2013 but you can't do that today... but there is some other coins to mine...

[Andrey2301]

Hello! Which is better to buy a miner ?

[BennyT]

A public company like NVIDIA with a board of directors, investors and shareholders would be stupid to get into the volatile mining industry. Especially when GPU’s are no longer their main business.

Fun fact.. if GPU mining dies tomorrow morning, and Metroid starts jumping up and down proclaiming he was right, in the time we have mined since Metroid declared the apocalypse, we have mined so many coins that we would have all lost money if we listened to him  

[coins4commies]

I think the people saying mining is dying are only trying to decrease their mining difficulty. 

[Digital Drug Lord]

I heard Nvidia is crippling their new video cards making them not good for mining

[t1192002]

I think the people saying mining is dying are only trying to decrease their mining difficulty. 

I think the price will only price up when many ppl believe and mine it. So miners should stay together to protect POW and their mining coins.

[otto_diesel]

mining will always be, will never die, because, encryption is very important.

[BennyT]

I heard Nvidia is crippling their new video cards making them not good for mining

Haha imagine? Gtx 1060’s will be close to $1000 this summer

[tenebriscaelum]

Wonder if they'll start climbing the clock tower before or after you do. hehe

Nvidia is developing a gpu for cryptomining only which means, the end of gaming gpus will end soon, my hopes is gaming gpus will only be for gaming like it was meant to.

They have already done that with a customized GTX 1060 without the an HDMI port, however many miners still wants gaming GPUs for their warranty as the said GPU have shorter warranty in then and these GPUs does not have resell value as the gaming GPUs.

[gotminer]

Wonder if they'll start climbing the clock tower before or after you do. hehe

Nvidia is developing a gpu for cryptomining only which means, the end of gaming gpus will end soon, my hopes is gaming gpus will only be for gaming like it was meant to.

They have already done that with a customized GTX 1060 without the an HDMI port, however many miners still wants gaming GPUs for their warranty as the said GPU have shorter warranty in then and these GPUs does not have resell value as the gaming GPUs.

From the sound of that article, they're going to give it another go.  If they can make something mining specific that is way more powerful than a gaming gpu, there will be less demand for gaming gpu's in the mining world, which helps solve their current delima.

[icoprofits]

Etherum and  Lite coin is heavily on mining investments and as long as bitcoin mining is there alt coins mining will also continue

[beheddard]

Unless every single coin major coin makes the switch to PoS or other non PoW consensus mechanisms, I don't think mining will be going anywhere any time soon.

[Reigningchamp4eva]

Eh, when eth goes PoS (which might take like 2 years because they're incompetent lol) that will hurt mining more than most people realize. Ethereum, in terms of $ of coins generated on a daily basis, is an insane slice of the GPU market. There are other coins, but everyone will be jumping ship to those coins as well.

The more immediate threat it the F3 miner from bitmain. I could see that not "ending" mining but making it an ROI of .25% daily instead of the current ~1% daily. As a result I'd expect retail prices to predominate and card shortages to dissipate...but I'd also expect no discounts like we had previously back in late 2016 early 2017 on cards.

[compimprove]

No no. It still has to exist for specific types of coin.

[badfad]

Unless every single coin major coin makes the switch to PoS or other non PoW consensus mechanisms, I don't think mining will be going anywhere any time soon.

~ 17 280 eth mined daily, ~ 15 Million dollars daily. I think we would feel that dent.  
Right now it's 210 Th/s on the eth network, and you need 34 000 rx polaris for 1 Th. Those gpus will search for a home.
How many gpus are mining shitcoins, that would be nice to know.

[Raziel__]

Unless every single coin major coin makes the switch to PoS or other non PoW consensus mechanisms, I don't think mining will be going anywhere any time soon.

~ 17 280 eth mined daily, ~ 15 Million dollars daily. I think we would feel that dent.  
Right now it's 210 Th/s on the eth network, and you need 34 000 rx polaris for 1 Th. Those gpus will search for a home.
How many gpus are mining shitcoins, that would be nice to know.

Nah, you need one coin to move to pos and we are out of businesses, and thats ETH which their POS is in testnet, all other coins combine doesnt have 20% of gpus that ETH have.

[S4roZa]

I do not think it will die, because there are still many new coins emerging. So do not worry .

[jerrison]

mining of cryptocurrencies seems to be the big business in the decentralized framework economy so talking about mining dying soon is nothing close to reality at least for now

[Eind]

I just started mining.. And its profitable
I think mining wont died if its still profitable

[kiver]

you may think that mining isn't profitable right now but from what i noticed in the past year that mining has some downtrends and uptrends it always gets back to be profitable just in time just mine some you trust its tech and wait to gain some profit

[Harsh_Patel]

Mining is behind the blockchain. Mining supports the Trustlessness of Blockchain to execute the transaction or any action for that matter. It has to be there till the blockchain is.  Bitcoin / Crypto dies if the mining dies.

There is lot to know about mining. There are lot of types of mining depending on proof of Work or Stake or Asset or Storage or many other type. All this is mining done to identify the correctness of Block Transaction.

[1C6fV5DtakfKANLJ8GUV7hCaA]

There's ZEC, XMR and more. Mining won't die. Eth is the majority. If Eth goes POS, mining will thrive still.