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Author Topic: GPU mining coming to an end?  (Read 817 times)
angel55
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June 13, 2018, 07:37:58 PM
 #1

It was a fun ride while it lasted but it looks like the glorious days of GPU mining will be coming to an end.  With asics flooding every market,  forks that are nothing but a publicity stunt, little guys trying to compete with huge farms with dirt cheap electricity.  Many projects moving to proof of stake and masternodes instead of the proof of work.


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June 13, 2018, 07:49:28 PM
 #2

Dude, check out the market. A bloodbath is going on and you wonder why you dont make enough money with your GPU. Sure there a lot of ASICs going on but GPUs are still profitable.  FPGAs will be the new generation of good mining.
A GTX1080Ti is still in this bloodbath profitable, not much but its a profit.
Btw, if you say rip GPU mining im sure you want to sell your gpus? I would take some Smiley

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June 13, 2018, 07:52:17 PM
 #3

I dunno I'm mining Loki with my RX 580 rig and it's pretty cool, dawg Cool
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June 13, 2018, 08:35:38 PM
Merited by suchmoon (5)
 #4

No, GPU mining will endure but some things need to change or adapt.  Okay, but let me give one simple reason GPU (and CPU) mining will never die: Ubiquity.  GPU/CPUs are everywhere.  As long as gamers can get passive income from there free electricity dorm rooms (and that's just one use case) then mining will carry on for GPU/CPU dudes.

Now about changing and adapting... GPUs are FAR behind right now and FALLING further behind every day.  I have no doubt that the next "secret" miner such as what happened with Monero is already leeching profits... or more likely dominating profits in scalable comparison to GPU miners.  And... I think the ever growing culprit is FPGA.  I can't tell you how much it annoys me to be mining on a coin and making 'okay' profit  --at least double electricity costs-- but then to look at the bigger picture and truly understand that the amount of network hash for the coin I am mining couldn't possibly be coming purely from GPUs and that this bulk of network hash is destroying decentralization and thus rewarding FPGA/ASIC owners.  Many algorithms right now (mostly looking at YOU Lyra2z) are being hit hard by FPGA and possibly ASIC companies "testing" new miners.   GPU/CPU friendly coin projects need to do more.

It is a BIG problem and in my opinion coin developers need to be more aggressive in the demand for ASIC/FPGA resistance.  This can be done by either modulating existing tech to include their own blockchain/coin as well as seeking out algorithm developers to be truly unique for their iteration of blockchain/coin.  Raven coin was a good example of such appropriate action taken by a coin developer.  But we are not and never have been in a one-and-done environment.  This field demands agility and readiness to change to maintain fundamental ideals that got this whole thing started in the first place.

ASICS/FPGA will live on.  So will GPU/CPU.  But which projects will be better?  Ultimately it will simply be the coins that are used and have value which means it just comes down to people behind the coins making business deals and driving further integration.  It won't matter if it is GPU/CPU/ASIC/FPGA or whatever comes next.  But there is a war being waged and it is a war that will be waged until there is a winner.  It could take years before there is a clear winner.  But when it happens we will look at various coins and identify them by what mined them.  Bitcoin is an ASIC coin.  Litecoin, also ASIC coin.  Monero with it's algo agility should likely end up as a GPU coin.  Maybe there will be some clear CPU coins.  Pure FPGA coins could also emerge through some distinct capability.  You can already see this separation on sites like whattomine-dot-com where they have a separate tab for GPU and ASIC minable coins.

So that's sort of where I see this going in the next few years.  It really is fascinating to watch the war unfold in front of our eyes.  Watch and see what happens with various coin values as various coin project leads implement their strategy of algo forks or adoption into ASIC.

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June 13, 2018, 09:44:09 PM
 #5

Mining sucks for everyone,  Even asics.

Asics have it worst if your electricity rate is above 10 cents.

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June 13, 2018, 10:22:29 PM
 #6

It's been red in the markets for some time now, gpus are still profitable, hey at least you're not mining DASH Grin Also how much do you pay for electricity, I find it hard to belive you can't make profit on 0.1c/kw.

How can we adapt to FPGA/ASICS if you can't buy them? Please don't tell me about the two dudes selling some fpga boards on another thread, don't make me laugh, those are 2 people(if legit) and god knows how big the FPGA-iceberg is.

Also on lyra2z you have 6x-polaris rigs doing 18Mhs.

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June 14, 2018, 01:06:16 AM
 #7

No, GPU mining will endure but some things need to change or adapt.

-snip-

Very well said. I believe a key point in your statements would be the fact that "Ultimately it will simply be the coins that are used and have value which means it just comes down to people behind the coins making business deals and driving further integration."

Without integration with the real world the coins will be completely useless, a means to pay other people in exchange for nothing. While coins like Ravencoin are technically sound, the problem of integration and finding real utility with it is a problem. Until developers drive a coin forward with well balanced business plan, we will soon have nothing to mine.


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June 14, 2018, 02:08:48 AM
 #8

Left out ominous music.

FUDD

Fear Uncertainty Doubt Doooooom.

Save Doom for last.

We see in short amount of months.


Why no coin algos current can change at run-time?  ASICs no work - FPGAs should but take more programming.     
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June 14, 2018, 02:36:17 AM
 #9

Small scale GPU miners are the most affected here specially for those who live or mining in a country with high electricity cost

Medium scale GPU miners are next to be affected if this bloodbath does not stop.

Many block-chain will become POS or Masternode. At the end, Bitcoin will become the only mineable crypto.

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June 14, 2018, 03:37:11 AM
 #10

Small scale GPU miners are the most affected here specially for those who live or mining in a country with high electricity cost

Medium scale GPU miners are next to be affected if this bloodbath does not stop.

Many block-chain will become POS or Masternode. At the end, Bitcoin will become the only mineable crypto.

Is there more than one masternode/pos coin in the top 50?  Dash is the only one I think.  Yes someday Ethereum will go POS but you already knew that when you got in the game.  The only coins going POS/Masternodes are complete shitcoins.
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June 14, 2018, 03:42:55 AM
 #11

Mining sucks for everyone,  Even asics.

Asics have it worst if your electricity rate is above 10 cents.



Exactly this.  The people complaining about GPU mining dying seem to think that ASIC owners are making money hand over fist!  I think the S9 is pulling in about $5 a day before electricity!  As for FPGAs, those are $3000 each, I'm sure the people mining on those have their cheeks stretched just as far right now.  Only people making real money are the market manipulators.  I'm considering selling all of my equipment and putting it into Bitcoin right now.  I have no doubt in my mind that it will be over $10k by the time nvidia comes out with the new cards.  Then I can cash out, rinse and repeat.
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June 14, 2018, 06:40:32 AM
 #12

For a small scale with very low electricity rates, it wont die

look around, sprouting pow coins everywhere

it has been foretold, but unprecedented turn of events happen

as always in Crypto world

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June 14, 2018, 06:49:54 AM
 #13

Small scale GPU miners are the most affected here specially for those who live or mining in a country with high electricity cost

Many block-chain will become POS or Masternode. At the end, Bitcoin will become the only mineable crypto.

I have 2 problems with your 2 statements.

First, small scale GPU miners could easily survive as long as they build rigs geared towards efficiency. Large farms need to pay overhead for warehouse fee, taxes, maintenance, and all that while a simple GPU home miner can maintain his rigs thru teamviewer, all for free.

It is hard to imagine that bitcoin will be the only mineable crypto, or even the last mineable crypto. There is no basis for your claim while on the other hand mining bitcoin is already less profitable comparing the most efficient bitcoin miner with the most efficient altcoin miner (regardless whether GPU, ASIC, FPGA).

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June 14, 2018, 07:40:57 AM
 #14

If I got 10$ for every time GPU mining was declared dead I would be rich only based on that.

The field is ever changing, but GPU mining is going nowhere. For at least 2-3 years its going to be present and profitable for sure. Everything else being told id pure FUD.
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June 14, 2018, 08:06:14 AM
 #15

If I got 10$ for every time GPU mining was declared dead I would be rich only based on that.

The field is ever changing, but GPU mining is going nowhere. For at least 2-3 years its going to be present and profitable for sure. Everything else being told id pure FUD.

Listern to the expert HAHAHAHAHAAAHAHAHAHAHAHAAHAHAHHAHAHA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! sorry i mean jester
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June 14, 2018, 08:25:57 AM
 #16

If I got 10$ for every time GPU mining was declared dead I would be rich only based on that.

The field is ever changing, but GPU mining is going nowhere. For at least 2-3 years its going to be present and profitable for sure. Everything else being told id pure FUD.

Listern to the expert HAHAHAHAHAAAHAHAHAHAHAHAAHAHAHHAHAHA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! sorry i mean jester

Yea we should listen to the idiot who buys ASICs to lose money with them while making Bitmain rich. Can't get any dumber then that. Before I listen to you about anything let me know so I can lobotomize myself with a rock first. Then maybe.

Btw you are a sad excuse for a human if you had to stalk me around. That means I really pushed the right buttons Smiley. A friendly advice. Stop making a fool out of yourself.
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June 14, 2018, 08:33:55 AM
 #17

This is just the same what happened in the past years ago they said that mining is dead, but after few months the mining profitability increase x3 and I think it also depends on your ways how you make a profit with the mined coins you must know when you should sell them all. To me, I collected all mined coins and save and withdraw some for an electricity bill, unlike other miners they sold all of their mined coins that is why they are not making any profit. So if you are miner you must know when you sell all of your mined coins so that you can make a good profit.

-Mining is Dead but true miners remain-
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June 14, 2018, 09:04:14 AM
 #18

Well, at least it's been more than 48 hours since the last thread on this.

Maybe mining is doomed, like the human condition itself, but I ain't switching off yet. If you want to, please do, drop the difficulty a little.
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June 14, 2018, 09:48:40 AM
 #19

I've been around since 2013 and this is not the first time that mining became unprofitable.

What happened last year was different because it was just a pullback on ETH while GPU hashrate kept increasing.

What is happening this year is very similiar to beginning of 2014.

Basically BTC price is tanking... price of the mineable alt is tanking even faster ... there are ASICs in the wild.

I remember a R9 280X made like $10/per gpu/per day one month .... $5/per gpu/ per day the month after ... $2.50 ... $ 1 ... $0.50 ... $0.25

So basically in 6 months it went from $10 per day to $0.25/day. Most ended up just Craiglisting the GPUs or just eBaying them.

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June 14, 2018, 10:08:03 AM
Merited by Raja_MBZ (1)
 #20

If I got 10$ for every time GPU mining was declared dead I would be rich only based on that.

The field is ever changing, but GPU mining is going nowhere. For at least 2-3 years its going to be present and profitable for sure. Everything else being told id pure FUD.

Listern to the expert HAHAHAHAHAAAHAHAHAHAHAHAAHAHAHHAHAHA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! sorry i mean jester

Yea we should listen to the idiot who buys ASICs to lose money with them while making Bitmain rich. Can't get any dumber then that. Before I listen to you about anything let me know so I can lobotomize myself with a rock first. Then maybe.

Btw you are a sad excuse for a human if you had to stalk me around. That means I really pushed the right buttons Smiley. A friendly advice. Stop making a fool out of yourself.

Hey pussy did you know listen I have 56 GPU too.. your thick as shit mate.

Really? Personal threats via PM?

Quote
Mate you such a mouthy little cunt.  sat begind your keyboard being a hard man. its pathetic, your a fucking little weak pathetic fool with VERY limited IQ as you dont understand things properly.

Comon if you wan tto mouth me off lets talk then lets meet and we will see how HARD you are then you fucking faggot.

So comon then KEYBOARD WARRIOR WHAT HAVE YOU GOT ?? nothing part froma  a big mouth little dick and a weak personality.. NOW FUCK OFF before I do find you for real

Thank you for confirming you are really not worthy of attention. Btw you have been reported to forum admins, because personal threats are something I don't tolerate Wink
For everyone else, you can actually see the level on which this guy operates. Sad world.
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