ETH network hashrate going to the moon!!!!

[philipma1957]

I recently sold Six s9 hashboards on ebay.

Lets see how these sales work.

100 a board was the price.

[1714668020]

1714668020

[Piskeante]

this is what i call MADNESS.

People are just SO SO GREEDY, WTF.....  Mining is going to die once ETH goes PoS. There are 356TH of power that will have to look to mine anything, and there is no coin that will remain viable once all that hashrate floods the market. So why are people so dumb?? https://postimg.cc/XXjW49wv

I mean....wow. And it's going worse. The biggest retailer here in Spain has a section for Outlet, where they put all the products returned. that includes GPUs. One friend that works there has told me that there are at least 50 people with the F5 burning everyday to buy those cards. They last less than 1 minute online. I've seen it myself.

This feels really bad. And as time goes by, less profit for those that have been, like me, mining since 2017. This is terribly wrong. But i guess those real gamers that will want to get a high end GPU, only have to wait to end 2021 or maybe mid 2022 to see all those stupids selling for almost 50% off all the GPU they are buying, following prices of desperate people having to pay their own stupidity with the bank.

Jesus....

[philipma1957]

this is what i call MADNESS.

People are just SO SO GREEDY, WTF.....  Mining is going to die once ETH goes PoS. There are 356TH of power that will have to look to mine anything, and there is no coin that will remain viable once all that hashrate floods the market. So why are people so dumb?? https://postimg.cc/XXjW49wv

I mean....wow. And it's going worse. The biggest retailer here in Spain has a section for Outlet, where they put all the products returned. that includes GPUs. One friend that works there has told me that there are at least 50 people with the F5 burning everyday to buy those cards. They last less than 1 minute online. I've seen it myself.

This feels really bad. And as time goes by, less profit for those that have been, like me, mining since 2017. This is terribly wrong. But i guess those real gamers that will want to get a high end GPU, only have to wait to end 2021 or maybe mid 2022 to see all those stupids selling for almost 50% off all the GPU they are buying, following prices of desperate people having to pay their own stupidity with the bank.

Jesus....

The thing is no one is stupid ‘yet’.

Eth is paying over 7.66 cents a mh.

Once it crashes they become stupid.

If they own the gear and mine for about 120 days they profit.
So this only needs to last to about July 1 to be smart.

[deskless]

Madness, pure madness.

Ofcourse it is a madness when used Radeon VII is going for $1400 on eBay. I am so tempted to sell but not sure if selling graphics card on eBay for 1500 is a good idea. Specially with 15% cut to eBay and then 30% for the tax.

The issue with eBay is their return policy. Some buyer might buy your GPU, use it and mine for a few months, then the mining profits go down. And they open up a dispute saying "Not as described" and you will be forced to take it back and offer refund. Plus get negative feedback in the process.

Like a wise miner once said on Bitcointalk "The best time to sell gear on eBay is when you have the highest chances of getting screwed" I think it might of been phil who actually said that. Hence if you really want to sell, try facebook marketplace or Craiglist and only accept cash. Less headaches not having to worry about a paypal dispute.

Agree. That is why I decided to use it till mining is not a loss and then decide what is to be done. Hopefully till July this year. The cards are already paid off.

[fr4nkthetank]

If I make a 60% profit on my 5700s that I bought when no one was buying them, what will I mine with 
I'll sell after February if things are the same.  I need that sweet, sweet heat.

[geck]

it will be interesting to see how much of the hashrate were from asics once eth goes POS. There is a chance GPU mining might still be viable, but i wouldn't bet on it.

[Metroid]

Good call here. I added a lot of gear in the July to October timeline.

It's amazing, back there eth was just 200 usd, now is 1700 usd, bull market is really crazy, bear market is as crazy, soon everything will crash hard again just like in 2018. So my advice is to sell eth and dont look back, yeah it could keep increasing in price but for now it has a very high chance to crash to 200 usd again and then the bear market will start again. Do not assume eth or cryptcoins will go up forever or it will stay at the current price, crypto market has cycles and the bear cycle is almost upon us. Do not end up holding the bag, in 2018, coins crashed 95% or 20 times its all time high price.

[deskless]

Saw an article today about people in china buying laptop with 30 series GPUs and mining

https://videocardz.com/newz/chinese-gpu-miners-are-now-bulk-buying-geforce-rtx-30-laptops-to-mine-ethereum

[btcshiner]

Saw an article today about people in china buying laptop with 30 series GPUs and mining

https://videocardz.com/newz/chinese-gpu-miners-are-now-bulk-buying-geforce-rtx-30-laptops-to-mine-ethereum

Love the pictures of those laptops mining.

[Marvell2]

Good call here. I added a lot of gear in the July to October timeline.

It's amazing, back there eth was just 200 usd, now is 1700 usd, bull market is really crazy, bear market is as crazy, soon everything will crash hard again just like in 2018. So my advice is to sell eth and dont look back, yeah it could keep increasing in price but for now it has a very high chance to crash to 200 usd again and then the bear market will start again. Do not assume eth or cryptcoins will go up forever or it will stay at the current price, crypto market has cycles and the bear cycle is almost upon us. Do not end up holding the bag, in 2018, coins crashed 95% or 20 times its all time high price.

lol this isn’t even close to 2017 , we were close to 1 till market cap bCk then this more of a recovery after three years of bear market in crypto.  when eth doubles its ath or maybe even triples it then we will be in full time bull market mode

[fmz89]

Saw an article today about people in china buying laptop with 30 series GPUs and mining

https://videocardz.com/newz/chinese-gpu-miners-are-now-bulk-buying-geforce-rtx-30-laptops-to-mine-ethereum

Well didnt expected this coming to happen  ,yeah its more efficient on mobile mining, and plus they had battery in case power cut off, it will be expensive, but at current gpus market buying gaming laptop have similiar price with gpus dedicated, rtx 3060 is the peak point for efficiency on nvidia side.

[philipma1957]

Good call here. I added a lot of gear in the July to October timeline.

It's amazing, back there eth was just 200 usd, now is 1700 usd, bull market is really crazy, bear market is as crazy, soon everything will crash hard again just like in 2018. So my advice is to sell eth and dont look back, yeah it could keep increasing in price but for now it has a very high chance to crash to 200 usd again and then the bear market will start again. Do not assume eth or cryptcoins will go up forever or it will stay at the current price, crypto market has cycles and the bear cycle is almost upon us. Do not end up holding the bag, in 2018, coins crashed 95% or 20 times its all time high price.

lol this isn’t even close to 2017 , we were close to 1 till market cap bCk then this more of a recovery after three years of bear market in crypto.  when eth doubles its ath or maybe even triples it then we will be in full time bull market mode

But for miners profits on eth are reaching what they were in 2017

The new gear uses less power.
and Eth fees are stupid high .

over 90 %

I get 190.22% at via btc

so an Eth coin for me is like 1.9022 x 1639 =3117

hashrate is 369 th it was 156 in  dec 2017

coins were 1300 in 2017


2017.  2021
1300.  1639.   price
156.     369.    hash
 3.5        2.     watts per mh


125%.  192%  via btc payout

3.3.     3.1.    block size is almost equal due to fees

So we are getting closer to 2017

my lone nvidia 3070  makes over 6.60 a day
my lone nvidia 3060 makes over 6.60 a day
my 3 nvidia 3080 make over 29.00 a day
my lone 3090 makes over  12.25 a day

6 cards earn more than 54 a day

[Marvell2]

Good call here. I added a lot of gear in the July to October timeline.

It's amazing, back there eth was just 200 usd, now is 1700 usd, bull market is really crazy, bear market is as crazy, soon everything will crash hard again just like in 2018. So my advice is to sell eth and dont look back, yeah it could keep increasing in price but for now it has a very high chance to crash to 200 usd again and then the bear market will start again. Do not assume eth or cryptcoins will go up forever or it will stay at the current price, crypto market has cycles and the bear cycle is almost upon us. Do not end up holding the bag, in 2018, coins crashed 95% or 20 times its all time high price.

lol this isn’t even close to 2017 , we were close to 1 till market cap bCk then this more of a recovery after three years of bear market in crypto.  when eth doubles its ath or maybe even triples it then we will be in full time bull market mode

But for miners profits on eth are reaching what they were in 2017

The new gear uses less power.
and Eth fees are stupid high .

over 90 %

I get 190.22% at via btc

so an Eth coin for me is like 1.9022 x 1639 =3117

hashrate is 369 th it was 156 in  dec 2017

coins were 1300 in 2017


2017.  2021
1300.  1639.   price
156.     369.    hash
 3.5        2.     watts per mh


125%.  192%  via btc payout

3.3.     3.1.    block size is almost equal due to fees

So we are getting closer to 2017

my lone nvidia 3070  makes over 6.60 a day
my lone nvidia 3060 makes over 6.60 a day
my 3 nvidia 3080 make over 29.00 a day
my lone 3090 makes over  12.25 a day

6 cards earn more than 54 a day

those are crazy numbers for six cards what?! is that after power?

[philipma1957]

Good call here. I added a lot of gear in the July to October timeline.

It's amazing, back there eth was just 200 usd, now is 1700 usd, bull market is really crazy, bear market is as crazy, soon everything will crash hard again just like in 2018. So my advice is to sell eth and dont look back, yeah it could keep increasing in price but for now it has a very high chance to crash to 200 usd again and then the bear market will start again. Do not assume eth or cryptcoins will go up forever or it will stay at the current price, crypto market has cycles and the bear cycle is almost upon us. Do not end up holding the bag, in 2018, coins crashed 95% or 20 times its all time high price.

lol this isn’t even close to 2017 , we were close to 1 till market cap bCk then this more of a recovery after three years of bear market in crypto.  when eth doubles its ath or maybe even triples it then we will be in full time bull market mode

But for miners profits on eth are reaching what they were in 2017

The new gear uses less power.
and Eth fees are stupid high .

over 90 %

I get 190.22% at via btc

so an Eth coin for me is like 1.9022 x 1639 =3117

hashrate is 369 th it was 156 in  dec 2017

coins were 1300 in 2017


2017.  2021
1300.  1639.   price
156.     369.    hash
 3.5        2.     watts per mh


125%.  192%  via btc payout

3.3.     3.1.    block size is almost equal due to fees

So we are getting closer to 2017

my lone nvidia 3070  makes over 6.60 a day
my lone nvidia 3060 makes over 6.60 a day
my 3 nvidia 3080 make over 29.00 a day
my lone 3090 makes over  12.25 a day

6 cards earn more than 54 a day

those are crazy numbers for six cards what?! is that after power?

60mh  200
60mh
275mh 700
115mh
510mh       they burn about 1400 watts right now that is say 35 kwatts.  my winter power with heat adjustment is 10 cents

so 510 x 11.15 =56.86 - 3.50 = 55.36 a day


they cost me

500
750
2500
2100
5850 so 105 days to pay off.

I have had the 3 x 3080's about 60 days
the 3060ti a month

the 3090 new
the 3070 new

[fmz89]

eth network climbing every day with so much asic fueling the network, couple months from now, the profit will decreased faster than 2017 bull run

defi transaction give miner bonus fee, i hope new algo approach on new/old coin, before asic take over eth

[Piskeante]

With this ENORMOUS HASHRATE we can now say without a single doubt:

1º Once ETH goes PoS, there will be , at least, 450TH of hashing power searching for coins to mine, which will DESTROY any viable coin till that point. So the end of ETH is the END of mining. This is A FACT. Unless there is a coin that increases it's prices by x10 at least so that "difficulty vs profit" gives at least some money back. Or that appears a new ETH, which , BTW has not appeared in the last 5 years.

2º With this enormous hashrate, ETH devs are going to follow the EIP-1559 and will be implemented ASAP. Why? Because this ridiculous amount of hashrate leeds to MORE INFLATION, more coins, and more profit for miners. And only 1 or 2 DEVs supports mining to continue as it is. And ETH devs don't want this profit to this extent. So, miners are going to get destroyed very soon. Fees will be burnt, and DEVS are going to implement it. This is a FACT for me.

3º As this madness continues, DEVS are going to rush the implementation of PoS, so the end of mining, and i'm 100% sure that they are going to do it before 2022. Some were saying that by end of 2022 or even 2023. With the current situation of madness, and it's going to continue because PEOPLE ARE GREEDY AF, DEVS will have no option but to rush to implement PoS.

4º ASICS are taking ETH. I feel like there are more and more getting into the hashrate, and this is a disaster to all the comunity, because ASICS are the most profitable machines outthere, by far. And only very few people are getting them, and they are destroying the rest. My guess here? DEVS are not going to implement ANY kind a anti-ASICS code on the net, and so, this very rich-greedy guys are going to continue flooding the pool with very powerfull high-efficient machines that will force DEVS to end ETH mining FASTER.


It doesnt matter which vision you have on ETH. This are FACTS, and as time goes by, more and more people are entering this market, and you, ALL OF US, are going to get less and less and less. It's a F. disaster. This is pure greed and madness.

[Metroid]

With this ENORMOUS HASHRATE we can now say without a single doubt:

1º Once ETH goes PoS, there will be , at least, 450TH of hashing power searching for coins to mine, which will DESTROY any viable coin till that point. So the end of ETH is the END of mining. This is A FACT. Unless there is a coin that increases it's prices by x10 at least so that "difficulty vs profit" gives at least some money back. Or that appears a new ETH, which , BTW has not appeared in the last 5 years.

2º With this enormous hashrate, ETH devs are going to follow the EIP-1559 and will be implemented ASAP. Why? Because this ridiculous amount of hashrate leeds to MORE INFLATION, more coins, and more profit for miners. And only 1 or 2 DEVs supports mining to continue as it is. And ETH devs don't want this profit to this extent. So, miners are going to get destroyed very soon. Fees will be burnt, and DEVS are going to implement it. This is a FACT for me.

3º As this madness continues, DEVS are going to rush the implementation of PoS, so the end of mining, and i'm 100% sure that they are going to do it before 2022. Some were saying that by end of 2022 or even 2023. With the current situation of madness, and it's going to continue because PEOPLE ARE GREEDY AF, DEVS will have no option but to rush to implement PoS.

4º ASICS are taking ETH. I feel like there are more and more getting into the hashrate, and this is a disaster to all the comunity, because ASICS are the most profitable machines outthere, by far. And only very few people are getting them, and they are destroying the rest. My guess here? DEVS are not going to implement ANY kind a anti-ASICS code on the net, and so, this very rich-greedy guys are going to continue flooding the pool with very powerfull high-efficient machines that will force DEVS to end ETH mining FASTER.


It doesnt matter which vision you have on ETH. This are FACTS, and as time goes by, more and more people are entering this market, and you, ALL OF US, are going to get less and less and less. It's a F. disaster. This is pure greed and madness.

Everything you see is madness and greedy, I hope this crashes to the depths of hehell because there is too much bs around.

[FloppyPurpleGherkin]

With this ENORMOUS HASHRATE we can now say without a single doubt:

1º Once ETH goes PoS, there will be , at least, 450TH of hashing power searching for coins to mine, which will DESTROY any viable coin till that point. So the end of ETH is the END of mining. This is A FACT. Unless there is a coin that increases it's prices by x10 at least so that "difficulty vs profit" gives at least some money back. Or that appears a new ETH, which , BTW has not appeared in the last 5 years.

2º With this enormous hashrate, ETH devs are going to follow the EIP-1559 and will be implemented ASAP. Why? Because this ridiculous amount of hashrate leeds to MORE INFLATION, more coins, and more profit for miners. And only 1 or 2 DEVs supports mining to continue as it is. And ETH devs don't want this profit to this extent. So, miners are going to get destroyed very soon. Fees will be burnt, and DEVS are going to implement it. This is a FACT for me.

3º As this madness continues, DEVS are going to rush the implementation of PoS, so the end of mining, and i'm 100% sure that they are going to do it before 2022. Some were saying that by end of 2022 or even 2023. With the current situation of madness, and it's going to continue because PEOPLE ARE GREEDY AF, DEVS will have no option but to rush to implement PoS.

4º ASICS are taking ETH. I feel like there are more and more getting into the hashrate, and this is a disaster to all the comunity, because ASICS are the most profitable machines outthere, by far. And only very few people are getting them, and they are destroying the rest. My guess here? DEVS are not going to implement ANY kind a anti-ASICS code on the net, and so, this very rich-greedy guys are going to continue flooding the pool with very powerfull high-efficient machines that will force DEVS to end ETH mining FASTER.


It doesnt matter which vision you have on ETH. This are FACTS, and as time goes by, more and more people are entering this market, and you, ALL OF US, are going to get less and less and less. It's a F. disaster. This is pure greed and madness.

Interesting points but not quite FACTS as you put it.

1/ Yes, a good chunk will sell-up and not return (hopefully) and it will leave the rest.. I've been mining since 2 years before ETH came along and in '13-'15 there was PLENTY of coins to choose from that were all marginally profitable at the time.

2/ Possibly, More than 51% of the hashrate (pools) have opposed the EIP.. So it could well be interesting if they try to implement it. See https://stopeip1559.org/

3/ POS has been 'coming' since 3 months after ETH's birth in '15.. 6 years later.. Yep, it's still 'coming'.. Albeit closer.. but nonetheless still 'coming' .. My guess is minimum 2 years, likely 3-3.5 years away.

4/ I absolutely agree.. A couple days ago Vitalik said in an interview regarding POW he was looking at possibly inflating DAG size to 7.5GB (static) for rest of POW period.. This would wipe off ALL current ASICS and 6GB GPU's for that matter.. How serious he was I don't know I suppose we'll hear more in the coming weeks.

[yobigd20]

The DAG inflation has a massive opposition by both asics and gpu miners.  Almost half of all nvidia gpus mining eth are 6gb. It’d also kick out the most efficient gpus on the market (5600xt). Plus 1060s, p106-100, 1660, and 2060s. It also does nothing to address the most attractive asics as they are 8+gb already. All the new ones are 8+GB too, the ones that are 2+GH.  The result of that would be kicking out a significant portion of the gpu miner base and only further tilt the network towards asic control. The mere idea of it is absurd. Why would we kick out a massive number of gpu miners whose hash is likely higher than any small number of asics that will be EOL’d soon anyway with normal DAG size increases??

It also came to light that the proposer of that just announced a partnership with asic manufacturers so clearly massive conflict of interest. That proposal is dead on arrival and the majority of all miners would oppose it anyway.

[fmz89]

every device mining eth right now, new asic, new gpus, laptop or even console gaming, gold rush mining became trending again after bitcoin & doge take hit wallstreet high profile and some artist

gladly many gpus already out of stock, and we need new algo coin before to late