Is mining going to die soon?

[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.