ETH network hashrate going to the moon!!!!

[vapourminer]

amd vs nvidia. meh. just roll with the punches and enjoy the ride i figure.

there is not such a ride to enjoy. Hashrate destroys all profit. more coins produced destroy profit. More Asic destroy profit. More Nvidia guys switching to ETH destroys profit. PoS will destroy profit totally. more coins in the market means less profit. No demand or a declining demand destroys profit.

well true for those who bought in at the wrong time, didnt understand mining, got burned by the various ASIC/overpriced prebuilt rig scams etc. but for those of us who made a profit, based on luck/timing/whatever, its been an interesting time. i guess ive seen and experienced enough in crypto that i just roll with it now.

So the question remains unsolved: why is hashrate increasing since profit is almost neglectable??? are people betting on a price increase blindly?? What if that does not happen?? have they thought about it???

sunk cost. if you already paid for the hardware and it makes anything above (or even equal to) zero profit, you will keep running that hardware no matter what. some hodl hoping for a price increase. some sell to cover equipment/power costs. either way hash rate rises.
 
so as asics/fpgas drive gpus out of a particular algo gpu miners pile in on whatevers left, which seems to be eth for a lot of people at the moment. not to mention eth asics and fpga that are already here. so there is a frenzy of miners trying to get every last bit of profit out of their rigs before they are pretty much useless. and eth seems to be more or less the last hurrah for many miners.

for those not into asics, i personally think fpgas and fpga/gpu hybrids are going to be the next generation of miners. they are adaptable and much more efficient power wise vs gpus, although initial cost is high. gpus alone are going to have a rough time unless your power is basically free. perhaps new algos or coins can prolong their life, but even then everyone and their brother will just pile onto that algo or coin, dropping profits very quickly.

i think it could be this: the pill for 1080/1080ti. in a reedit post some guys have reported an increase from 37 to 54 simply by using a program that performs a "tweak" in the memory settings for GDDR5X. Considering a huge amount of people have those cards, the damage of this pill on the hashrate is huge because it increases the hashrate of Nvidia guys by 30% which is and could be this peak we are suffering.

i have two 1080tis and ever since the pill they have been on eth, running 53ish mhs. with the extra 34 mhs between them it was basically like getting a free 580 or 1070ti. before that they were on equihash iirc.

plus bitmain now has an asic eth miner.

[1714907391]

1714907391

[1714907391]

1714907391

[1714907391]

1714907391

[blacktux88]

Sound like the same problem sia got bricked.

they annouced an asic miner for june , and an other team hast buil it 1 year before . so the profit has been gone

WTF is happening???

In 4 min almost 1000GH/s entered the network. ETH is being mined by ASICS. This is disgusting. They are destroying the profit !

[lunobird]

yep I'll mine for zero profits just to watch prick guys like Piskeante suffer and capitulate.  Its fun watching maxamalist Amd miners cry.

Eth is most energy efficient with 1080ti.   so time for your amd guys to rot out of the space, nvidia rigs taking over.

[TGJ]

yep I'll mine for zero profits just to watch prick guys like Piskeante suffer and capitulate.  Its fun watching maxamalist Amd miners cry.

Eth is most energy efficient with 1080ti.   so time for your amd guys to rot out of the space, nvidia rigs taking over.

Lol, this should make the little troll’s head explode.

[Piskeante]

i think it could be this: the pill for 1080/1080ti. in a reedit post some guys have reported an increase from 37 to 54 simply by using a program that performs a "tweak" in the memory settings for GDDR5X. Considering a huge amount of people have those cards, the damage of this pill on the hashrate is huge because it increases the hashrate of Nvidia guys by 30% which is and could be this peak we are suffering.

i have two 1080tis and ever since the pill they have been on eth, running 53ish mhs. with the extra 34 mhs between them it was basically like getting a free 580 or 1070ti. before that they were on equihash iirc.

plus bitmain now has an asic eth miner.

i'm not much in 1080/ti but i remember that i saw this in April 2018 when it begun this "trick", and i don't remember many people talking about this in forums. Can it be that huge farms have known of this recently?? there was recently a big drop in hashrate but then it skyrocketed. Some people have said it can be that Bitmain plugged off their machines, cleaned them and shipped them to customers who bought them. But still, Bitmain has been using them for quite a while.

If the hashrate was 262.000, dropped to 237.000 (due to cleaning and shipping) and then up to 269.000, in just 3 days, from where did those 7.000gh came from?? is someone,with current situation betting on mining when buying is actually more profitable , and considering that , blindly, the market is gonna suffer a bullrun??

It's incredible and irresponsable on the other side. I would never bet money on this.

[Metroid]

nvidia miners never thought they would use their 1080ti to mine eth hehe, for them it would be equihash forever or other altcoins, this is the reality nobody thought about except me hehe.

[Piskeante]

yep I'll mine for zero profits just to watch prick guys like Piskeante suffer and capitulate.  Its fun watching maxamalist Amd miners cry.

Eth is most energy efficient with 1080ti.   so time for your amd guys to rot out of the space, nvidia rigs taking over.

you never have enough right?? I'm on profit right now. 120$ after electricity costs. You are mining on 0 profit. Who is the stupid here , mofo?

nvidia miners never thought they would use their 1080ti to mine eth hehe, for them it would be equihash forever or other altcoins, this is the reality nobody thought about except me hehe.

they fucked up their investment, and before getting rekt, are switching. Losers. Big losers.

[Metroid]

soon amd is coming with a rx polaris or vega gddr6 that will do 70mh/s for $230 and everything will be going to ash hehe and the funny thing is that troll superiority of 70 mhs card will last only few days to few months cause pos is coming and trolls will be in debt hehe, gpu mining is almost dead trolls, enjoy your peanuts of profits, whereas i earn 1000% in few months buying and selling coins, you trolls earn peanuts mining hehe

[lunobird]

soon amd is coming with a rx polaris or vega gddr6 that will do 70mh/s for $230 and everything will be going to ash hehe and the funny thing is that troll superiority of 70 mhs card will last only few days to few months cause pos is coming and trolls will be in debt hehe, gpu mining is almost dead trolls, enjoy your peanuts of profits, whereas i earn 1000% in few months buying and selling coins, you trolls earn peanuts mining hehe

I agree.  Mining is for straight up losers.  I only bought 34 gpus nvidia rigs to hedge my risk when crypto's where in the sky.  Im 90 percent coin buyer, 10 percent miner.

If my electric rate wasn't 28 cents I would be very much in profit each day.    But I have to just pay the electric price and hold onto it for better times.  This always gets you more money in the long run.  And who cares what you mine it for today.  Its all about your sell price in the future that brings in the real profits.

1080 ti is the best mining device for those that have high electric rates.

[badbart]

Lol, buy high sell low!  Still lots of money to be made mining.  Like anything else lots of highs and lows, just make sure you buy your equipment at a decent price and time and have cheap power.  The next bull run could be right around the corner. 

[nisya]

Lol, buy high sell low!  Still lots of money to be made mining.  Like anything else lots of highs and lows, just make sure you buy your equipment at a decent price and time and have cheap power.  The next bull run could be right around the corner. 

sometimes we make that mistake, we buy at the high price and we sell at the low price I remember that I have this experience. and if ethereum network hashrate is going to the moon, then I think it will impact to the price and I think the price can increase higher too because the difficulty will increase more. maybe we are going to see the price increase in this month or in the next month and I am sure that we are waiting this moment comes.

[percy_tc]

soon amd is coming with a rx polaris or vega gddr6 that will do 70mh/s for $230 and everything will be going to ash hehe and the funny thing is that troll superiority of 70 mhs card will last only few days to few months cause pos is coming and trolls will be in debt hehe, gpu mining is almost dead trolls, enjoy your peanuts of profits, whereas i earn 1000% in few months buying and selling coins, you trolls earn peanuts mining hehe

I agree.  Mining is for straight up losers.

Have your realized that mining  is crucial for pow coin?   "Loser miners" actually make secure your fav pow coin's blockchain...

[serhanni]

new record on hashrate for ETH.

262350 Gh/s.

WTF is happening here??? This is destroying profit!!!!!! OMG!!!!!!!

4 hours ago we had 252.000GH/s.

As time passes by , more and more and more GH are joining the pool while THIS IS BECOMING LESS PROFITABLE. Are the people really mad?? Or is it that people have definetely abandoned many many many other coins???

Currently there is 6500GH/s dagger hashimoto available on nicehash. If someone pay more than other algos it will increase, because nicehash miner has profit switching feature.

[swogerino]

Why to blame Gpu miners ? Better blame the Antminers from Bitmain that they are selling but better yet blame Bitmain for keeping a huge pile of better antminers than the one for sale to the world. There is only one guilty for everything and that is Bitmain.

Stop blaming small Gpu home miners, they can't add that much GHS to the network within that little time. It is impossible for a lot of different people in the world to build that many Gpu mining rigs in just 4 hours of time. This is some thing which is done by a greater force named Bitmain.

[Piskeante]

only ASICS are mining at profit right now. And the Hashrate is not going down. Are people so irresponsable to mine at losses with the current market is danger of absolute death???

[varusisog]

only ASICS are mining at profit right now. And the Hashrate is not going down. Are people so irresponsable to mine at losses with the current market is danger of absolute death???

I think they got very cheap electricity price.

[percy_tc]

only ASICS are mining at profit right now. And the Hashrate is not going down. Are people so irresponsable to mine at losses with the current market is danger of absolute death???

Soon its heating season you know. I would run my miners for loss to heat my room up and pay less or nothing to local heat source provider.

[Pastonia]

only ASICS are mining at profit right now. And the Hashrate is not going down. Are people so irresponsable to mine at losses with the current market is danger of absolute death???

Soon its heating season you know. I would run my miners for loss to heat my room up and pay less or nothing to local heat source provider.

It is winter here. So I keep on mining to heat my property.

[lunobird]

only ASICS are mining at profit right now. And the Hashrate is not going down. Are people so irresponsable to mine at losses with the current market is danger of absolute death???

Soon its heating season you know. I would run my miners for loss to heat my room up and pay less or nothing to local heat source provider.

It is winter here. So I keep on mining to heat my property.

Ya that's cool.  But Keep in mind your paying a premium to heat your house compared to Gas.

But I don't mind paying a bit of a premium as long as I can afford some losses and you want to make bigger mining operations capitulate since they got bigger cost to run a farm

I would do a mix,  75 percent gas, 25 percent mining rigs to heat the home

[gsrcrxsi314]

soon amd is coming with a rx polaris or vega gddr6 that will do 70mh/s for $230 and everything will be going to ash hehe and the funny thing is that troll superiority of 70 mhs card will last only few days to few months cause pos is coming and trolls will be in debt hehe, gpu mining is almost dead trolls, enjoy your peanuts of profits, whereas i earn 1000% in few months buying and selling coins, you trolls earn peanuts mining hehe

more predictions that never happened