What happened to GPU mining (late March 2018)?

[swogerino]

The listed GPU-s under 100 dollars are a scam, I asked in the service discussion here sometime ago as I was tempted too by them. What the seller does is they ship you an old card or Gtx 960 chinese version in the 1060 box and you get cheated.

Now on real prices of GPU they should go down but so far they haven't at ebay. I am not seeing any RX 580 under 300 dollars while MSRP price of it from AMD was 229 dollars for the 8 GB version , we are still way overpriced in GPU market.

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[jezus]

Equihash is still exist.

[boyz123]

We humans should help each other, if there is opportunity to make money for free.
Share the knowledge with each other.  I came to know about GPU mining this year but nothing is too late ever.
I am mining FOLM coin for past two weeks and have earned good profit. some good man shared information to Join FOLM coin with me and now I am sharing with you. Join https://discord.gg/ByfhsCk

[dhouse]

Today I had a look on ebay and oh, god! So many cheap used GPUs! Used RX 580 and GTX 1060 at under $100?! Seriously? Looks like miners are selling used GPU as fast as they can!

Yes, things sure are crazy here in makebelieveland!

[xIIImaL]

The listed GPU-s under 100 dollars are a scam, I asked in the service discussion here sometime ago as I was tempted too by them. What the seller does is they ship you an old card or Gtx 960 chinese version in the 1060 box and you get cheated.

Now on real prices of GPU they should go down but so far they haven't at ebay. I am not seeing any RX 580 under 300 dollars while MSRP price of it from AMD was 229 dollars for the 8 GB version , we are still way overpriced in GPU market.

If you want to buy the GPU you must go with the reputed online e-commerce store or local market in your city bro. There are many scamming websites which is having the all type of cards and some ASIC hardware as well buddy.

So if you new websites which is for using selling hardware you will not go with those kind of websites bro.
If you want to buy the Rx 580 with the 300 dollar USD means you need to go with the second hand ebay cards. No where you find with that cards for cheap cost.

[adaseb]

You can say what happened in the first quarter of 2018 is exactly what happened in the first quarter of 2014.

Basically MtGox caused BTC to go down which is similiar to what happened this year with the selling of the coins by the trustee.

Also Bitmain introduced ASiCs for ETH which made difficulty sky rocket. Basically exactly what happened with LTC back in 2014.

History repeats itself I guess.

[brooklynite1]

Equihash is still exist.

When all miners rush to Equihash then the difficulty will make it unprofitable.



Mining right now is only unprofitable if you MINE-N-DUMP into USD/BTC. If you mine good projects like BTCZ you get a lot of coins right now and if you dont convert to USD/BTC then you could be gaining a lot. The reverse is also true, if you have been mining good coins in the past two months but never converted to USD then your profitability for back in Jan is also impacted. For example, my rig made $35/day back in Jan but I didnt sell any of the coins I mined and they went down 80% so even back in Jan I only made $7/day because the coins I held onto have become worth so much less.

[lolchina]

It seems that nvidia pushed the production of mining cards last 2 months and flooding the market with them thus killing the mining profitability.Also its probably not a bad move to sell gpus now as most of them wont mine the same amount of money in a year that you can get from seling them

[adaseb]

It seems that nvidia pushed the production of mining cards last 2 months and flooding the market with them thus killing the mining profitability.Also its probably not a bad move to sell gpus now as most of them wont mine the same amount of money in a year that you can get from seling them

Yes I am noticing this also. Basically nivida were best for ZEC due to the high hashrate and low power consumption.

And now the profitability of ZEC became magnitudes lower than ETH profitability.

So many of the older gen AMD GPUs and most Nvidia GPUs are suffering.

[Golempl]

Looks like best investments were rx570 4gb 30mh for 250$5
Worst is nvidia 1070ti and 1080ti.  1.2k $ per card.  ROI is years and next gen is comming. thats make even harder to sell these hi end card at reasonable prices. while 1060 are good mh/s to wat. half of them startes dying because of dag file size today
should invest in pv solars also to reduce energy bill

[Marvell2]

It seems that nvidia pushed the production of mining cards last 2 months and flooding the market with them thus killing the mining profitability.Also its probably not a bad move to sell gpus now as most of them wont mine the same amount of money in a year that you can get from seling them

Yes I am noticing this also. Basically nivida were best for ZEC due to the high hashrate and low power consumption.

And now the profitability of ZEC became magnitudes lower than ETH profitability.

So many of the older gen AMD GPUs and most Nvidia GPUs are suffering.

actually nvidia cards are moving to raven , its like two times more profitable than eth or 3x zec

[philipma1957]

It seems that nvidia pushed the production of mining cards last 2 months and flooding the market with them thus killing the mining profitability.Also its probably not a bad move to sell gpus now as most of them wont mine the same amount of money in a year that you can get from seling them

Yes I am noticing this also. Basically nivida were best for ZEC due to the high hashrate and low power consumption.

And now the profitability of ZEC became magnitudes lower than ETH profitability.

So many of the older gen AMD GPUs and most Nvidia GPUs are suffering.

actually nvidia cards are moving to raven , its like two times more profitable than eth or 3x zec

quote

nevermore

 

[stevebills]

all gpu and Bitcoin mining is dead and its bad times now as after electric there is only a few dollars profit

[cryptovigi]

don't you count on eth fork which could prevent this coin (or maybe rather GPU miners) from ASICS?

[QuintLeo]

ETH is no longer GPU only.

As a different point.  A lot of people believe in crypto and will still build rigs when profits are down but I don’t think that’s what’s going on in your example.

I don't think there is any ethash ASIC miner on market yet? Bitmain is still developing it.

I suspect they have some engineering and "early production" test units up and running - but a few hundred at most.

[QuintLeo]

Based on a video claiming to show the new Bitmain ethereum ASIC, it's not all that impressive.

1500 Mhash (about 50 1070 or BIOS modded RX 470/480/570/580) but no power number quoted.
At 1000 watts (LOW for a Bitmain miner) it would only be 5x or so as efficient as current GPU mining.
At 1500 watts, it would be LESS THAN 3x more efficient.

Factor in the probably efficiency improvements of the next-gen Nvidia cards (due later this year SOMETIME) and the numbers get even less impressive.

Given the HUGE amount of ETH hashrate alone, even at Bitmain's typical "3000 or so" miners per batch it would take quite a few months for their ASIC to capture *HALF* of the ETH total network hashrate.
Then add in the existing total network hashrate from the other ethash coins like ETC.....

Yes, it's a threat - but it's not going to kill ETH mining soon, and unless they price it CHEAP it's likely to never make enough to pay for itself.
Unlike SIA and X11, it's NOT going to kick the hashrate multiple times higher in less than a month - it's going to be closer to the move in Scrypt where the L3+ and Innosilicon miners are ONLY NOW finally getting deployed in enough numbers to replace the "previous generation" like the A2 and the Titan and make them generally unprofitable.

IMO if Vitalik and crew keep their current target timeframe for POS deployment and actually MEET it for a change, it'll be a waste of time doing a "algo change" fork.


I don't class this miner as a "big mistake" like the Cryptonight ones from Baikal and Bitmain, but it's not looking a TON better.


https://etherscan.io/chart/hashrate shows an all-time high spike on March 26, but seems to have been a "day of the week" or "luck" thing as the trend has been a gradual DROP for about 2 weeks now.

[Marvell2]

Based on a video claiming to show the new Bitmain ethereum ASIC, it's not all that impressive.

1500 Mhash (about 50 1070 or BIOS modded RX 470/480/570/580) but no power number quoted.
At 1000 watts (LOW for a Bitmain miner) it would only be 5x or so as efficient as current GPU mining.
At 1500 watts, it would be LESS THAN 3x more efficient.

Factor in the probably efficiency improvements of the next-gen Nvidia cards (due later this year SOMETIME) and the numbers get even less impressive.

Given the HUGE amount of ETH hashrate alone, even at Bitmain's typical "3000 or so" miners per batch it would take quite a few months for their ASIC to capture *HALF* of the ETH total network hashrate.
Then add in the existing total network hashrate from the other ethash coins like ETC.....

Yes, it's a threat - but it's not going to kill ETH mining soon, and unless they price it CHEAP it's likely to never make enough to pay for itself.
Unlike SIA and X11, it's NOT going to kick the hashrate multiple times higher in less than a month - it's going to be closer to the move in Scrypt where the L3+ and Innosilicon miners are ONLY NOW finally getting deployed in enough numbers to replace the "previous generation" like the A2 and the Titan and make them generally unprofitable.

IMO if Vitalik and crew keep their current target timeframe for POS deployment and actually MEET it for a change, it'll be a waste of time doing a "algo change" fork.


I don't class this miner as a "big mistake" like the Cryptonight ones from Baikal and Bitmain, but it's not looking a TON better.


https://etherscan.io/chart/hashrate shows an all-time high spike on March 26, but seems to have been a "day of the week" or "luck" thing as the trend has been a gradual DROP for about 2 weeks now.

lol these companies have made billions being smart not dumb , they ALWAYS make Money on their hardware because either they sell it to you at a high price or like the cryptonite  miners they’ve been using them for six months or longer my name making millions before list them for sale is because the algo change to get a grip

[QuintLeo]

And it turns out that the F3 shown in that video is apparently NOT an ETH ASIC miner.

Bitmain released their E3 today for preorders - delivery NOT 'TILL MID JULY (indicating that they do NOT have many units on hand).

180 Mhash
800 watts

(they CLAIM these are minimums, but they'd have to do a TON better to change the below commentary).


About the same hashate and same power draw as a well-tuned 6-card  RX 480/580 "BIOS modded for memory straps" rig.
Slightly LESS hashrate and slightly MORE power draw than a well-tuned 6-card GTX 1070 rig.
NOT exactly a GPU mining killer.

Note that they would have to sell well over ONE MILLION of these units to achieve 50% of the current ETH network hashrate.
For perspective, current Bitcoin network hashrate equates out pretty closely to 2 Million S9 units (but PART of that hashware is LW.COM internal-usage miners, some is Avalon 721/741 units, some is EBang miners, et cetera - Bitmain PROBABLY has sold a total of ONE MILLION S9 units but it took them almost 2 YEARS to manage that despite having THE best performance miner on the market).

The E3 is NOT a GPU mining killer - in fact, I doubt it's going to make much more than a SMALL DENT in ethash mining profitability before ETH goes Proof of Stake and the REAL shakeout happens.

On the positive side, they DID get the price at $800 to a reasonable level, and probably WILL sell as many of these units as they choose to make since that's a LOT cheaper than building a GPU rig that can match the performance.

[kimtaek]

I guess for me mining for this time is not very much profitable because the price of BTC is not high as we expected. And also it will affect the performance of your PC in this HOT weather condition and most of all electricity bill...

[Sandal_Hat]

And it turns out that the F3 shown in that video is apparently NOT an ETH ASIC miner.

Bitmain released their E3 today for preorders - delivery NOT 'TILL MID JULY (indicating that they do NOT have many units on hand).

180 Mhash
800 watts

(they CLAIM these are minimums, but they'd have to do a TON better to change the below commentary).


About the same hashate and same power draw as a well-tuned 6-card  RX 480/580 "BIOS modded for memory straps" rig.
Slightly LESS hashrate and slightly MORE power draw than a well-tuned 6-card GTX 1070 rig.
NOT exactly a GPU mining killer.

Note that they would have to sell well over ONE MILLION of these units to achieve 50% of the current ETH network hashrate.
For perspective, current Bitcoin network hashrate equates out pretty closely to 2 Million S9 units (but PART of that hashware is LW.COM internal-usage miners, some is Avalon 721/741 units, some is EBang miners, et cetera - Bitmain PROBABLY has sold a total of ONE MILLION S9 units but it took them almost 2 YEARS to manage that despite having THE best performance miner on the market).

The E3 is NOT a GPU mining killer - in fact, I doubt it's going to make much more than a SMALL DENT in ethash mining profitability before ETH goes Proof of Stake and the REAL shakeout happens.

On the positive side, they DID get the price at $800 to a reasonable level, and probably WILL sell as many of these units as they choose to make since that's a LOT cheaper than building a GPU rig that can match the performance.

It is nice to be positive buddy. I notice u often are. But lets look at the chart

https://etherscan.io/chart/difficulty

On 1st Jan 2018, difficulty is about 1938 TH.
On 1st April 2018, it is about 3200 TH.

This is 1262 TH higher, or 65% higher, in just 3 months and this is without the ETH miner being sold to public. Ethereum price did not increase by 65% to keep mining at the same profitability. That why profitability has dropped. In fact ETH price dropped while difficulty increases. The manufacturers ramp up production in anticipation of future price increases of the coin but coin prices wont rise up like last year. We have overcapacity of mining equipment manufacturing and yes, I know u disagree with me.

65% increase in 3 months is roughly about 18% monthly with compounding included. Thus, if the coin price increases by 18% a month, and network difficulty increases by 18% a month, that would make profitability to be the same. Thats not the case. I say overcapacity of mining equipment exist even without this new eth miner. And now this ethminer appears...


This increase is without a bitmain coming in to pump up difficulty. Thus, difficulty can increase at a higher rate now because a new manufacturer is now pushing it up too, not just the current ones. This is why competition in mining is stupid. It hurts those at the bottom, the miners most.

Just my 2 cents.