Is it official that GPU mining is guaranteed to be irrelevant in 2 to 3 years?

[dipepmining]

I have been reading articles that when Etherium 2.0 is released in 2020 you will not be able to mine Etherium with GPU miners. Is this a definite thing or is it still just up in the air?
If we will no longer be able to mine Etherium does this officially make GPU miners irrelevant? Or is it still worth building them for @ home solutions to mine other coins and possibly new coins that could be profitable?

I currently have an 8 RX580 rig that can't really mine anything profitable except for Etherium. (not sure if this rig will be useless in 2020 or not).

I am looking to build another rig with 8 GTX 1070ti cards that will give me more flexibility to mine other algorithms.

Would it be foolish to buy 8 brand new GTX 1070ti cards at $479.99 a pop and build a $5000 rig with the future of GPU mining and where it stands? Even if I buy used the rig will cost about $3800. Just trying to see what peoples thoughts are on this. I am willing to gamble, but don't want to gamble if there is no chance GPU mining will be relevant within the next 2-3 years and we already know this.


If someone can give me an idea of what I am gambling on by continuing to expand my GPU miners in 2019 that would be great.

[deadsix]

Mining in its current state is only profitable for people that already have rigs lying around, and even they barely make any money. Its not advisable to make a rig for mining in the current market.
This is ofcource based on the assumption that you have regular-price electricity - like 10c. If you have access to cheap electricity - like 4c or something then by all means dive right in, there will always be something worth mining.

As for Ethereum, I hope and pray that we see 2.0 released in 2020, its see faar too many delays. When that comes however, mining will take a definite hit and profitability will tank since Eth lead the current resurgence in mining, and the vast majority of all GPU miners are on it.

[dipepmining]

deadsix: Thank you for the response! My electrical cost is .1333 c which is worse than 10. You are saying it would be a terrible move to spend 5K on a new rig as of today? I have read things saying that coins that use Equihash will always keep GPU mining alive even if Eth goes away. In my case my RX580 rig might go to waste since can primarily mine Ethash coins only, but Nvidia rigs seem to mine several different algos well.


Just trying to figure out the best case scenarios and worst case scenarios and go from there.

[CristianOff]

From a point of view, I truly disagree with you. GPU mining is not good for certain coins at the moment such as Bitcoin and Ethereum, however there is a huge
mining market of altcoins around you where GPU mining would be useful. In 2-3 years there will still be Bitcoin/Litecoin/Ethereum forks you'll be able to mine.
I would still recommend investing in ASIC

[Piskeante]

Just to be clear here.

Profitability , right now is dead for almost all people living in first world countries. Mining is only profitable in places where you can get Electricity at around 5cnt/kWh taxes included (i say this, because in Spain we are taxed 26%) or solar power (which also implies investment and ROI to take into account).

According to what ETH devs have said, ETH 2.0 or total POS will come in January 2020. At most you may be able to mine until February or March 2020. Not more than that. Once this happens, any algo where AMD can do nice will be destroyed. ETC (Ethereum classic) will see it's hashrate (currently 9,3Th or 9300 GH/s) more than x10 the next day. So anyone mining that coin will see his profit reduced dramatically.

All people mining ETH, will throw their machines to anything remotely profitable in the ETH algo if there is anymore than ETC or ETH. If not, then they can even try to mine NVIDIA algos the way NVIDIA guys have been mining ETH for a long time. all those coins will get their profitability REKT.

So, is it intelligent to build a mining rig? NO. AMD or NVIDIA? NONE!!! GPU mining will die with ETH, because the mining coins will be flooded with those gpus. I predict a huge, brutally huge amount of GPU in second hand to sale by 2020. So if you are reading and you are a gamer, just push a little more your card. You may be able to get Nvidia o AMD cards to play for very little.

Add to that the fact that all not resistant coins are seeing ASIC take control, so that makes GPU simply a no go.

Do you want an advice? forget about mining as a way of making some money. You are just 6 months away from the end. Enjoy it as much as possible now.

[mihacrypto]

I think that mining on video cards will never cease to exist, every year there are new algorithms that are still relevant. and in the future it will be the same

[badbart]

You have to have cheap electricity, I have 4 cents electricity and have never had a one of my 100 GPUs be unprofitable and some are 3 years old.

[JGUN]

According to what ETH devs have said, ETH 2.0 or total POS will come in January 2020. At most you may be able to mine until February or March 2020. Not more than that. Once this happens, any algo where AMD can do nice will be destroyed. ETC (Ethereum classic) will see it's hashrate (currently 9,3Th or 9300 GH/s) more than x10 the next day. So anyone mining that coin will see his profit reduced dramatically.

Phase 0 of ETH 2.0 maybe releases January 2020. But phase 0 only introduces a beacon chain than confirms 1 out of every 50 blocks (or something like that). PoW won't be fully phased out probably until around 2021. And given the speed of Ethereum development, maybe later.

You can find a breakdown of the ETH 2.0 phases here: https://docs.ethhub.io/ethereum-roadmap/ethereum-2.0/eth-2.0-phases/

[black1ight]

For ethereum initially pos will be a hybrid of pow and pos. .
Privacy coins can take some more hash power.  :-)
Gpu mining should go on.  . New gpus , algos , protocols will keep coming. :-)

Though i dont think its a good time to buy hardware unless u have extras to spend or have cheap power costs or getting a good second hand deal.

Currently i feel new gpu prices are inflated. 

[FloppyPurpleGherkin]

Just to be clear here.

Profitability , right now is dead for almost all people living in first world countries. Mining is only profitable in places where you can get Electricity at around 5cnt/kWh taxes included (i say this, because in Spain we are taxed 26%) or solar power (which also implies investment and ROI to take into account).

According to what ETH devs have said, ETH 2.0 or total POS will come in January 2020. At most you may be able to mine until February or March 2020. Not more than that. Once this happens, any algo where AMD can do nice will be destroyed. ETC (Ethereum classic) will see it's hashrate (currently 9,3Th or 9300 GH/s) more than x10 the next day. So anyone mining that coin will see his profit reduced dramatically.

All people mining ETH, will throw their machines to anything remotely profitable in the ETH algo if there is anymore than ETC or ETH. If not, then they can even try to mine NVIDIA algos the way NVIDIA guys have been mining ETH for a long time. all those coins will get their profitability REKT.

So, is it intelligent to build a mining rig? NO. AMD or NVIDIA? NONE!!! GPU mining will die with ETH, because the mining coins will be flooded with those gpus. I predict a huge, brutally huge amount of GPU in second hand to sale by 2020. So if you are reading and you are a gamer, just push a little more your card. You may be able to get Nvidia o AMD cards to play for very little.

Add to that the fact that all not resistant coins are seeing ASIC take control, so that makes GPU simply a no go.

Do you want an advice? forget about mining as a way of making some money. You are just 6 months away from the end. Enjoy it as much as possible now.

Some valid points, Though as a GPU miner who started out in 2013.. Way before ETH was even a thought, I believe GPU mining will carry on (Yes it will take a brutal hit) but its been proven time and time again, Those who stick around during the 'dark' times (and hold) are rewarded in time

[philipma1957]

You have to have cheap electricity, I have 4 cents electricity and have never had a one of my 100 GPUs be unprofitable and some are 3 years old.

4 cent power has always been a winner for mining.

Almost all people over 10 cent power will eventually not be mining much.

[dipepmining]

philipma1957: I know it isn't much profit but my 8 RX580 rig is doing the following:

256mh/s @ 1050w

.1333c electrical costs

If you enter these values into whattomine.com you will see that today the daily profit is only 10cents but that is because Eth is doing terrible right now. I have seen this number range from $0.10 to $2.60 daily profit with this rig all depending on where Eth is at. I know some would say why go through all of the hassle just to make $30 a month at best, but I don't see what the big deal is. Lets say Eth goes up to $300 prior to 2020 it would definitely be profitable for this rig to mine even at .1333c electrical costs.

I never experienced 2017,2018 when profit was at its best so maybe I don't know what I am missing out on.
Would like you guys to share your thoughts, I am no guru with this stuff.

[h311m4n]

Honestly?

I think it will become irrelevant, yes. 2-3-10 years, who knows. GPUs are not really that efficient. They are just easy to get their hands on. Unless you have very, very low ct/kW rate, it already doesn't really make much sense anymore.

Then again, who knows. ETH's shift to POS will be interesting to say the least. You'll need a minimum of 32 ETH to stake afaik. I have no clue how much that will yield to.

[h311m4n]

philipma1957: I know it isn't much profit but my 8 RX580 rig is doing the following:

256mh/s @ 1050w

.1333c electrical costs

If you enter these values into whattomine.com you will see that today the daily profit is only 10cents but that is because Eth is doing terrible right now. I have seen this number range from $0.10 to $2.60 daily profit with this rig all depending on where Eth is at. I know some would say why go through all of the hassle just to make $30 a month at best, but I don't see what the big deal is. Lets say Eth goes up to $300 prior to 2020 it would definitely be profitable for this rig to mine even at .1333c electrical costs.

I never experienced 2017,2018 when profit was at its best so maybe I don't know what I am missing out on.
Would like you guys to share your thoughts, I am no guru with this stuff.

Profit is profit yes. But It all comes down to your strategy:

1. Do you mine and hodl and wait for the price to pump to sell?
2. Do you mine and sell and cash out to ROI your hardware?

Fact is, no one knows if BTC will go to 100'000$, which would likely send ETH to the 5000-10000$ range. At 2$ a day, investing what 2000-3000$ in a full rig is just a bad investment decision. You're better of buying the crypto directly at this point lol. There's a ton of coins that yield stake returns of over 2$ a day for that price range.

2017-2018, there's was no ETH ice age. You could make over an ETH a day with like 3 rigs. I had months where Ethermine was showing me a monthly payout of 4 grand with 4-5 rigs. A 6 card rig would literally pay itself off in a month or two.

[WickedPigeon]

Would it be foolish to buy 8 brand new GTX 1070ti cards at $479.99 a pop and build a $5000 rig with the future of GPU mining and where it stands? Even if I buy used the rig will cost about $3800. Just trying to see what peoples thoughts are on this. I am willing to gamble, but don't want to gamble if there is no chance GPU mining will be relevant within the next 2-3 years and we already know this.

your question, "would it be foolish" - well, I can't say what is or isn't foolish, but it would be a bad business decision - at $480 a GPU your payoff would be over 6 years at current coin prices. So you would be betting on a massive move in the Alt-coin market to make any kind of decent ROI.

If you believe that Alt-prices will move higher, say double in the next year, then the ROI on mining would drop to around one year, still high but better. But, if you are committed to mining and are willing to invest right now, buying a bunch of 1070TI's isn't a good choice. There are a lot of better GPU's that have a better ROI, like the 1660 or the 2060.


RVN is used as a benchmark - many Alt-coins follow similar return structure, but it will vary a bit based on what you want to mine.

[crairezx20]

Right now it's hard to mine altcoin and it takes years before you can get your ROI. The difficulty keeps increasing because more people thinking that they can make a profit and they want to mine because they are lazy and they are hoping that after a year or a few months the price of the coin they mine can increase too high just like what happened after block halving or last year.

For me, I just continuing mining because the coin that I mine I just exchange them to other coins and not focusing on coin vs USD mostly coin vs coin just to make sure that the amount of the coin that I holding and trading are increasing not decreasing.

Mining is not guaranteed as passive income if you do that you never get your ROI back.

[grangonzo]

I currently have an 8 RX580 rig that can't really mine anything profitable except for Etherium. (not sure if this rig will be useless in 2020 or not).

I am looking to build another rig with 8 GTX 1070ti cards that will give me more flexibility to mine other algorithms.

Would it be foolish to buy 8 brand new GTX 1070ti cards at $479.99 a pop and build a $5000 rig with the future of GPU mining and where it stands?

I would still build a new rig for sure. Having nvidia and amd rigs, i can tell you amd rigs right now are kind of limited to a few profitable coins.

Nvidia is the best choice, tons of coins to mine and more popping up every day. Try to get best performing nvidia cards on the various flavors of equihash.

Just keep mining.
When the whole crypto ecosystem goes up a lot in prices, would you prefer to already have the coins to sell or start buying equipment when half of the world will be buying and mine when half of the world is mining. I wouldn't.

About the future of mining, don't see it ending in our lifetime. Just getting more and more profitable.

[lunobird]

You noobs need to understand mining is like investing in a gold mining company where you get taxed daily on the income and not actually  investing in the gold directly which is tax free when you buy.

That means you will get less gains if you mine crypto instead of buying coins if the market goes up. You however will also get less losses if the market goes down, so your hedged by your mining gear assets and can offset any mining daily gains with your operation expenses.

Yes roi is bad for gpus and it makes sense. A lot more people and average Joe's, gamers, etc, have access to gpus compared to Asics so GPU mining is an overcrowded market and a race to the bottom where those with the cheapest electric rates will survive another cycle.

So start getting used to it. It won't get any better just will keep getting worst as the Data has shown for the past 1.5 years till your hardware is outdated and have to reflect do you want to buy more gear and do it all over again.  So stop nerding out on GPU gear ,not everyone can win in crypto if your doing what most are doing. Theirs gonna be a lot of miner moonboy tears these next few months when your alts will dump even more and roi extends further out to 2-3 hardware generation cycles

[Regulater]

I have been reading articles that when Etherium 2.0 is released in 2020 you will not be able to mine Etherium with GPU miners. Is this a definite thing or is it still just up in the air?
If we will no longer be able to mine Etherium does this officially make GPU miners irrelevant? Or is it still worth building them for @ home solutions to mine other coins and possibly new coins that could be profitable?

I currently have an 8 RX580 rig that can't really mine anything profitable except for Etherium. (not sure if this rig will be useless in 2020 or not).

I am looking to build another rig with 8 GTX 1070ti cards that will give me more flexibility to mine other algorithms.

Would it be foolish to buy 8 brand new GTX 1070ti cards at $479.99 a pop and build a $5000 rig with the future of GPU mining and where it stands? Even if I buy used the rig will cost about $3800. Just trying to see what peoples thoughts are on this. I am willing to gamble, but don't want to gamble if there is no chance GPU mining will be relevant within the next 2-3 years and we already know this.


If someone can give me an idea of what I am gambling on by continuing to expand my GPU miners in 2019 that would be great.

Its just like with BTC, LTC, Eth, etc. saying GPU mining is dead. Even saying FPGA mining is dead and here they are doing FPGAs again. GPU mining is like a rollercoaster, up down up down. If your buying Nvidia graphics cards then dont worry about Eth. Nvidia has many other profitable coins and they go up and down. Many coins want to stay GPU friendly so it will always have profitable algos in the future. Also those prices are really high. 6 GPU 1080 systems only go for around $2000. So for only $4000 (200 above your $3800) you could get 12 1080s plus the case, mobo, etc. plug and play.

[adaseb]

It's impossible to tell if GPU or ASIC mining will be completely unprofitable in the future.

Many people assumed that CPU mining was dead when there were GPU miners released for Bitcoin. Then other coins became CPU mineable.

Then it was assumed that GPU mining would be dead since ASICs came out and then Litecoin came out with Scrypt which was only possible to mine with GPUs.

Then Litecoin got ASICs and it was the entire cycle all over again with ETH.

So it's impossible to predict.

[swogerino]

I think that we cannot really predict that but based on the data we are having now,mining with GPU-s will be only for people who will mine at a loss and believing in the long term return.People looking for that quick buck I think will be gone by the end of 2-3 years.

I will continue to mine even at a loss so even if Gpu mining becomes irrelevant there will still be people mining with them,plus the creation of new Gpu-s will give a boost to people to continue mining.

[Metroid]

Face it trolls, gpu mining is dead and has been since January 2018.

[dragonmike]

I will continue to mine even at a loss so even if Gpu mining becomes irrelevant there will still be people mining with them,plus the creation of new Gpu-s will give a boost to people to continue mining.

So you'll happily pay $3 for something that's worth $2? What crazy logic is that?
Don't mine at a loss. Ever. If you still want the coins, turn off your rigs and buy them. Anything else is stupid.

[swogerino]

I will continue to mine even at a loss so even if Gpu mining becomes irrelevant there will still be people mining with them,plus the creation of new Gpu-s will give a boost to people to continue mining.

So you'll happily pay $3 for something that's worth $2? What crazy logic is that?
Don't mine at a loss. Ever. If you still want the coins, turn off your rigs and buy them. Anything else is stupid.

I don't see it as black and white as you see it.For me mining is also a hobby and I can pay electricity of 45 Usd for a rig without being a limit to me, my payroll is enough to cover all my needs and even save a bit.I will only buy Bitcoin when the price will be 3000 Usd again if it ever will be but I don't think it will.

[leea-1334]

Even today you can still find plenty of coins, both old and new, that you can realistically mine with GPU only devices. In fact,,, looking at those mining software like Minergate or CudoMiner you can see, there is still profit to be made even for total newbies. Small profit, today, but if you use a hodl mentality then it could go x10 in several years (so this is an investment). Not irrelevant, just less relevant.

[honglu69]

GPU mining is likely to stay relevant.  ETH mining may be gone, there are other alcoins that are suitable and dominated by GPUs.  I see ETH GPU miners will gradually move to mainly cryptonight coins or other ASIC restricted coins such as scrypt DynDiff coin NewEnglandcoin (NENG).

[areyouathief]

Then it was assumed that GPU mining would be dead since ASICs came out and then Litecoin came out with Scrypt which was only possible to mine with GPUs.
Then Litecoin got ASICs and it was the entire cycle all over again with ETH.

In fact, the anti-ASIC Litecoin direct successor was not Ethereum but Vertcoin
(launched in January 2014, while Ethereum was launched ~1.5 year later)

btw, it looks like new algo aka Verthash - may have a similar characteristic to ethash (ie. "AMD friendly"):
https://old.reddit.com/r/vertcoin/comments/cl2ske/verthash_is_near_to_the_final_version/

[evlo]

Face it trolls, gpu mining is dead and has been since January 2018.

As others wrote - mining at loss is the way to go

[adaseb]

Then it was assumed that GPU mining would be dead since ASICs came out and then Litecoin came out with Scrypt which was only possible to mine with GPUs.
Then Litecoin got ASICs and it was the entire cycle all over again with ETH.

In fact, the anti-ASIC Litecoin direct successor was not Ethereum but Vertcoin
(launched in January 2014, while Ethereum was launched ~1.5 year later)

btw, it looks like new algo aka Verthash - may have a similar characteristic to ethash (ie. "AMD friendly"):
https://old.reddit.com/r/vertcoin/comments/cl2ske/verthash_is_near_to_the_final_version/

From what I remember Vertcoin was released shortly before the 2014 bear-market started and I think it was like 20% more profitable than LTC/DOGE however many people had issues with stability on Vertcoin.

It used slightly more power and was more intense on the GPU. Most people who used the 280X in those days already had trouble keeping their 350Watts GPU power hogs stable and with Vertcoin it just made the matters worse.

However it still was profitable for the month or so when it was released. But shortly after all the alts including BTC started to decline when $900 support broke.

[badbart]

I stilling mining with my 90 GPUs with cheap electricity.  To be long term profitable you have to have low electrical cost.  With .04 kwh electricity I have not had a month when I didn't make money for the past 3 years.  But right now the profits are pretty low to buy new gpus if we hit a bull run then its all good, if not you could sell your gpus and recoup a lot of the cost.

[badbart]

Then it was assumed that GPU mining would be dead since ASICs came out and then Litecoin came out with Scrypt which was only possible to mine with GPUs.
Then Litecoin got ASICs and it was the entire cycle all over again with ETH.

In fact, the anti-ASIC Litecoin direct successor was not Ethereum but Vertcoin
(launched in January 2014, while Ethereum was launched ~1.5 year later)

btw, it looks like new algo aka Verthash - may have a similar characteristic to ethash (ie. "AMD friendly"):
https://old.reddit.com/r/vertcoin/comments/cl2ske/verthash_is_near_to_the_final_version/

If this happens and eth goes progpow good times.

[Etherion]

The only thing GPU's had was its ability to mine different alt coins. As GPU's and FPGA's are now on 7nm there is very little advantage for GPU left. One gets multi-algorithm ASIC already so I don't see any hope for GPU's. Even the holy grail ProgPow which is designed to work specifically on GPU's and utilizes all of its functions can have an ASIC that is x1.5 more efficient. Think, ProgPow-ASIC Farm with low-cost power will, therefore, beat any home miner with GPU's. We are just back where we started.

[Metroid]

For what is worth, we will soon finally see nvidia xx70 around $200 again.

[dipepmining]

adaseb and Regulator: very well put. Still hesitant about my next move being that I already invested in a brand new 8GPU RX580 rig with a 2yr ROI. If I do build another rig it will be Nvidia based since it looks like Nvidia can run way more algorithms at a profitable rate. Also looking into making the RX580 more efficient by possibly investing in solar to cut down electrical costs, so far it seems like it would take 20K worth in solar equipment to run the 1050w 24/7.

[Regulater]

adaseb and Regulator: very well put. Still hesitant about my next move being that I already invested in a brand new 8GPU RX580 rig with a 2yr ROI. If I do build another rig it will be Nvidia based since it looks like Nvidia can run way more algorithms at a profitable rate. Also looking into making the RX580 more efficient by possibly investing in solar to cut down electrical costs, so far it seems like it would take 20K worth in solar equipment to run the 1050w 24/7.

Nvidia is definitely the better way to go. If you were mining RVN from April 2018 to April 2019 you would have received atleast a 3x on your investment. Nvidia is better at far more new coins and algos. Solar is definitely worth it if you are looking to purchase. Just make sure to check your state rebates too. I purchased a 12kw solar system for 20k after rebates with a 20 year warranty. It produces around 20 MWhs (20,000 kWhs) yearly where I am located. Which would be around a 2250 Watt continuous load that the solar pays for.

[CannCo]

It's impossible to predict. Every single year there are new and new algorithms added which are still relevant, in the future, it will be the same. Try to find cheap electricity, and your GPUs don't be unprofitable at least several years.

[YuSoDum]

Impossible to predict yes.
Look at all of the algo's now, so many in comparison to a few short years ago, miners are stubborn, I don't think we will ever stop. US Dollar isnt worth much, and with the way technology is moving.....

[Lanatsa]

adaseb and Regulator: very well put. Still hesitant about my next move being that I already invested in a brand new 8GPU RX580 rig with a 2yr ROI. If I do build another rig it will be Nvidia based since it looks like Nvidia can run way more algorithms at a profitable rate. Also looking into making the RX580 more efficient by possibly investing in solar to cut down electrical costs, so far it seems like it would take 20K worth in solar equipment to run the 1050w 24/7.

2 years ROI? How much the electricity cost on your place? Building up a solar panel set-up is somehow feasible but do add up on the expense which means ROI would be more longer.

It would be much better to buy a coin then hold up for long.Less hassle and worry free but if you do like to explore up things then its your choice.

[Rustamm]

Many new coins are constantly appearing that support different mining algorithms and they allow you to mine them using the GPU. Even when Ethereum switches to PoS, there will remain many coins that can be mining and making a profit. I think for several years GPU mining will be a relevant and profitable business.

[adaseb]

Many new coins are constantly appearing that support different mining algorithms and they allow you to mine them using the GPU. Even when Ethereum switches to PoS, there will remain many coins that can be mining and making a profit. I think for several years GPU mining will be a relevant and profitable business.

This is completely untrue. First of all most coins that are released on the market are usually ICOs and POS coins. They aren't mineable POW coins. Rarely do we get a pure no-premine coin released these days unlike we did in 2015 on a daily basis.

Also when ETH goes POS, where do you think all those GPUs will go? They won't disappear. They will start mining other coins and make it unprofitable for everybody. This is why Satoshi introduced difficulty to mining. So the block time stays the same but the hashrate can go up undefinately.

[DigitalAssetInvestor1]

It depends on your electricity rate.

[philipma1957]

I have been reading articles that when Etherium 2.0 is released in 2020 you will not be able to mine Etherium with GPU miners. Is this a definite thing or is it still just up in the air?
If we will no longer be able to mine Etherium does this officially make GPU miners irrelevant? Or is it still worth building them for @ home solutions to mine other coins and possibly new coins that could be profitable?

I currently have an 8 RX580 rig that can't really mine anything profitable except for Etherium. (not sure if this rig will be useless in 2020 or not).

I am looking to build another rig with 8 GTX 1070ti cards that will give me more flexibility to mine other algorithms.

Would it be foolish to buy 8 brand new GTX 1070ti cards at $479.99 a pop and build a $5000 rig with the future of GPU mining and where it stands? Even if I buy used the rig will cost about $3800. Just trying to see what peoples thoughts are on this. I am willing to gamble, but don't want to gamble if there is no chance GPU mining will be relevant within the next 2-3 years and we already know this.


If someone can give me an idea of what I am gambling on by continuing to expand my GPU miners in 2019 that would be great.

No it is not official.  2-3 years in crypto  is really long.  The correct answer to your question is maybe.

[MinerPath]

I don't think that GPU mining will die, at least not until alt coins die. Ethereum is just one of MANY alt coins that people currently mine with their GPUs.

But I do agree with some answers from this post, for example that cheap electricity is a number one prerequisite for profitable mining.

[CannCo]

For me, the future of GPU mining depends on the market conditions, after all these cards do require quite a bit of power when mining crypto and you need to cover the electric bill. There is a GPU accelerator that is soon to enter the market that may make the efficiency of certain GPU’s better.

There will be a big demand for GPU power in the crypto field for years to come, whether you can make a dime providing it, remains to be seen. Let’s hope so!

[VoskCoin]

they said that it would be 2-3 years ago


time will tell

[Piskeante]

As i said, GPU mining will be irrelevant, probably next year.

Go to page 1 and read my comment there.

Now, Just to give you some tips. Only 6.000GH/ in the network ETC hashrate can make the coin profitable or unprofitable. A friend of mine is mining with 10 gpus at 278mh/s ETC. If the hashrate gets to 15.000GH/s, the profit goes to 0. literally 0.

When ETH goes POS, there are at least 150.000GH looking for a new "home". So you can pretty much predict that once ETH goes PoS, ETC will die aswell. We are not even talking about getting little profit. You´ll lose hundreds of $ in electricity for what you receive. Unless ETC gets it's value x30 (which i can tell you, it will not happen).

All minable coins will get their profit destroyed the next day ETH goes PoS, so GPU mining will die? probably not. What will die is your profit. You will still be able to mine ETC, but at a loss. Or Monero, at a loss. Or even Ravencoin, at a loss. Any profitable coin will die the next day.

Now, have you read about Bitmain? It's going to increase 50% their current hashrate. They are building new chips to mine Bitcoin, 50TH/s each. they are building 600K chips. So, small BTC miners.....you know what that means. You can count with the fingers of 1 hand how many coins are still ASIC resistant and profitable to mine. Probably you´ll end up not needing 2 or 3 fingers of that hand to count them. and those will get REKT the next day of ETH PoS. Is this looking good? no, it isn't. It's a f*cking disaster let's be clear.

i don't see future on this. And investing into mining is the dumbest thing you can do right now (unless you invest into solar power) which....BTW, will not save your problem since the hashrate of all left coins will be so big you´ll not be on profit even on solar power. So...the thing looks so terrible, that you may not be on profit even investing on solar power because the hashrate of the mineable coins will skyrocket. If there is no increase in value, well...you know....that's game over for the vast majority of miners.

Ohh BTW, someone said that nowadays a lot of coins are appearing and that they are mineable. That's false. brutally FALSE. There are not appearing mineable coins. And there are no future project (to my knowledge) planned to release one. So....We have what we have, and no good news on new mineable coins

[badbart]

Only thing mining eth are AMD and they are not good for much else maybe xmr if you have a newer card, most of eth hashing power will not move it will get turned off.  My few AMD cards will be turned off if not sold soon, 3 years old and paid off many times over.

[WickedPigeon]

Hate to say it...
But I agree with King_of_Shitcoins.

Right now, based on the current market, GPU mining is taking 2 to 3 years to pay back on New investment. While that isn't very good, if you believe that coin prices are headed higher, it could become much better. Right now you are looking at around 20% cash flow returns on new investment into mining (this is a bit low historically speaking). Yet, if you see prices going higher, and your mining strategies are correct, you could see 50% to 70% flows on New investment. Last 12 months for me have been out standing, right strategies at the right time - north of 100% returns on a mid size home farm. And that was in a year where a lot of people were talking like Piskeante - negative, very negative.

The argument about shifting GPU's from one coin to another isn't likely to be issue due to the aging out of those GPUs - they won't be mining GRIN or BEAM or RVN or half the other coins out there. But new GPUs and FPGA will keep some pressure on Alt-coins as more and more miners come to the market seeking their share of the returns - but this is a good thing for Crypto in the long run as it builds a deeper community.  

So yeah, the hay days of 2017 are gone, but new opportunity is here. This is just the beginning of a new asset class, a new industry. Lots of changes and volatility but lots of opportunity too.

But that's me - you do you and good luck not mining too.

[Metroid]

Only thing mining eth are AMD and they are not good for much else maybe xmr if you have a newer card, most of eth hashing power will not move it will get turned off.  My few AMD cards will be turned off if not sold soon, 3 years old and paid off many times over.

It was only paid off if you sold at the right time and nothing had gone wrong. The same card that was paid off had another card which broke and then the same card will have to roi for 2 gpus, now imagine if it was 3 gpus that broke, 1 had to pay for 3 or even more, most of the world had no 3 years warranty, most like 15 days warranty hehe, and now officially no warranty at all if gaming gpus were used on mining. Those are things that you trolls fail to see. To me any calculation you trolls do is wrong, most of those gpus used on mining, I'd say 80% of all gpus used on mining were never paid off and to this day are still not and will never be. It's a failed crusade.

[WickedPigeon]

It was only paid off if you sold at the right time and nothing had gone wrong.

Different paths for different miners. I run a small 30+ GPU home farm for the past two years. I've made all my investment back and then some. Last year was really good to me. It's been work, but not that hard and yes Very profitable.

The same card that was paid off had another card which broke and then the same card will have to roi for 2 gpus, now imagine if it was 3 gpus that broke, 1 had to pay for 3 or even more, most of the world had no 3 years warranty, most like 15 days warranty hehe, and now officially no warranty at all if gaming gpus were used on mining.

You're accounting and business skills are dazzling. I hope you aren't in business for the sake of those around you. BTW of my 30+ GPUs, not one has failed yet. Sometimes it isn't the equipment, sometimes it's PEBCAK.

Those are things that you trolls fail to see. To me any calculation you trolls do is wrong, most of those gpus used on mining, I'd say 80% of all gpus used on mining were never paid off and to this day are still not and will never be. It's a failed crusade.

Ah Metroid, Metroid, Metroid.... Your stats of 80%... could be right, could be wrong - you are just throwing out BS without support. And that makes YOU the troll.

[Metroid]

Ah Metroid, Metroid, Metroid.... Your stats of 80%... could be right, could be wrong - you are just throwing out BS without support. And that makes YOU the troll.

It seems you are a lottery winner, my friend which had a farm with 300 gpu's had around 60 gpus to fail in the first 180 days and around 40 gpus more to fail in the next 180 days, around 100 gpus out of 300, 33% in a year. All new retail gpus, warranty was only 30 days. A pro miner, now imagine those new trolls mining and thinking they will get rich fast ehhe and few days after they need to send their gpu to warranty and most will hear, "sorry bro, warranty does not cover mining" hehe

I really mean you are a lottery winner, you know that around 15% of gpus fail in the next 3 months after purchase, gaming on it. Now imagine mining 24/7, the card was never meant to do that, ask sapphire for the stats you will know if I'm right or not, reason they stopped honouring warranty if they find out it was used for mining. As far as I know around 60% of gpus returned to sapphire was used on mining and failed in the first 6 months in 2018.

[badfad]

Ah Metroid, Metroid, Metroid.... Your stats of 80%... could be right, could be wrong - you are just throwing out BS without support. And that makes YOU the troll.

It seems you are a lottery winner, my friend which had a farm with 300 gpu's had around 60 gpus to fail in the first 180 days and around 40 gpus more to fail in the next 180 days, around 100 gpus out of 300, 33% in a year. All new retail gpus, warranty was only 30 days. A pro miner, now imagine those new trolls mining and thinking they will get rich fast ehhe and few days after they need to send their gpu to warranty and most will hear, "sorry bro, warranty does not cover mining" hehe

I really mean you are a lottery winner, you know that around 15% of gpus fail in the next 3 months after purchase, gaming on it. Now imagine mining 24/7, the card was never meant to do that, ask sapphire for the stats you will know if I'm right or not, reason they stopped honouring warranty if they find out it was used for mining. As far as I know around 60% of gpus returned to sapphire was used on mining and failed in the first 6 months in 2018.

Maybe your friend is an idiot and drools over gpus without noticing, I could see that.

[WickedPigeon]

my friend which had a farm with 300 gpu's had around 60 gpus to fail in the first 180 days and around 40 gpus more to fail in the next 180 days, around 100 gpus out of 300, 33% in a year.

Holy Sh*t. Do Something else. I mean really - that is the worst results I've ever heard of - Holy bad luck stories.

BTW - those results aren't happening to anyone else - just your "friend" - While this article is old, it shows the constant improvement in GPU life up to 2014. Go to Discord, Reddit or even here - no intelligent miner would tolerate 30% failure rates with non-warrenteed GPUs. What ever you and your friend are doing to buy GPUs - it's a dumb-ass move.
https://www.pugetsystems.com/labs/articles/Video-Card-Failure-Rates-by-Generation-563/

30% failure rate points to buying shitty GPUs from an unreliable provider. Who would do that? What are you doing, ordering no name GPUs from China to save a dollar? Your "Pro-Miner" friend isn't much of business man if he keeps buying the same crap over and over. Speaking of China, your story has more red flags in it than the Beijing Olympics.

Of the few (30+) GPUs I've bought, 2 where DOA and EVGA replaced them both without question - great customer service. Most resellers have 1 to 3 year warranties. https://www.evga.com/warranty/graphics-cards/ So again - you are tolling information that is just wrong. And I truley mean this - I am sorry for your loss, but you should do something else than mining. You are not up to the task.

Bottom line: Miners are still making money. And GPUs are going to be here for the foreseeable future.

[badbart]

my friend which had a farm with 300 gpu's had around 60 gpus to fail in the first 180 days and around 40 gpus more to fail in the next 180 days, around 100 gpus out of 300, 33% in a year.

Holy Sh*t. Do Something else. I mean really - that is the worst results I've ever heard of - Holy bad luck stories.

BTW - those results aren't happening to anyone else - just your "friend" - While this article is old, it shows the constant improvement in GPU life up to 2014. Go to Discord, Reddit or even here - no intelligent miner would tolerate 30% failure rates with non-warrenteed GPUs. What ever you and your friend are doing to buy GPUs - it's a dumb-ass move.
https://www.pugetsystems.com/labs/articles/Video-Card-Failure-Rates-by-Generation-563/

30% failure rate points to buying shitty GPUs from an unreliable provider. Who would do that? What are you doing, ordering no name GPUs from China to save a dollar? Your "Pro-Miner" friend isn't much of business man if he keeps buying the same crap over and over. Speaking of China, your story has more red flags in it than the Beijing Olympics.

Of the few (30+) GPUs I've bought, 2 where DOA and EVGA replaced them both without question - great customer service. Most resellers have 1 to 3 year warranties. https://www.evga.com/warranty/graphics-cards/ So again - you are tolling information that is just wrong. And I truley mean this - I am sorry for your loss, but you should do something else than mining. You are not up to the task.

Bottom line: Miners are still making money. And GPUs are going to be here for the foreseeable future.

I've been running 100 gpus since jan 2017 and have have only a handful fail maybe 5 at the most.  I've replace fans but a actual GPU breaking becoming useless is very rare.

If his friend is breaking 60 out of 300 gpus something is very wrong.  Hell I had gpus running for 4 years before I turned them off. 

[Metroid]

You trolls could always ask for sapphire, gigabyte or asus their rma stats of 2018 then you will get your answer.

[WickedPigeon]

You trolls could always ask for sapphire, gigabyte or asus their rma stats of 2018 then you will get your answer.

Who's the troll. Come on Metroid - be honest with yourself... Who's the troll?

Is it the miners here trying to help each other, or the guy who knows a guy and is spreading FUD? Hmmm, who could it be?

[badbart]

Way too much BS and drama here.

GPU mining is profitable with cheap electricity but not worth investing in a big farm.  I have 4 cent kwh electricity and its worth running my gpus but not buying new gpus.  If you want to gamble and build rigs go ahead who knows what the future holds. 

[Piskeante]

As i said, GPU mining will be irrelevant, probably next year.

Oh... You said... well there you go.. Hey everyone this ass just said it's over, so it's over...

Go to page 1 and read my comment there.

No - you are a closed minded troll

Now, Just to give you some tips. Only 6.000GH/ in the network ETC hashrate can make the coin profitable or unprofitable. A friend of mine is mining with 10 gpus at 278mh/s ETC. If the hashrate gets to 15.000GH/s, the profit goes to 0. literally 0.

When ETH goes POS, there are at least 150.000GH looking for a new "home". So you can pretty much predict that once ETH goes PoS, ETC will die aswell. We are not even talking about getting little profit. You´ll lose hundreds of $ in electricity for what you receive. Unless ETC gets it's value x30 (which i can tell you, it will not happen).

All minable coins will get their profit destroyed the next day ETH goes PoS, so GPU mining will die? probably not. What will die is your profit. You will still be able to mine ETC, but at a loss. Or Monero, at a loss. Or even Ravencoin, at a loss. Any profitable coin will die the next day.

Mr. Miguel Jose Sanchez - Thaz's so fukcing stupid -  Your whole argument is just wrong - just because you can't make money doesn't mean jack squat. You are a failure doesn't mean everyone else is a failure too.

A lot of miners are "killing the game" this year and will next year too. Is it easy? No - but with a little work and thinking - you get a decent return.
But not you - you will be doomed to fail. So Mr. Miguel Jose Sanchez - keep posting your BS somewhere else

why do you keep telling me a name i don't know?? Am i supposed to be that person, Miguel Sánchez? Jajajaja. That's not my name and i don't know that person. Sorry. ahh ok, so you typed my nick on google, and you said the name the first link showed on Twitter (as if people could not name theirselves with fake names). Is this "the work and thinking" you use to show us you win money mining?? LOL!!!

Look at your poor argument. It's just ridiculous. I post says "WHEN ETH GOES POS". Can you figure out that or not? You can still make money mining coins. Specially with Nvidia ones. But once ETH goes PoS is game over. If today you have to do a great research to win some bucks (and here is were i value my time more than yours, because i don't invest my time on 100$ per month profit) with ETH up, imagine with ETH POS.

Anyway, i will continue to speak clearly here, and sorry, if you work for this and you need this scamm to continue to get your money, SORRY!!! Life is hard.

[philipma1957]

You trolls could always ask for sapphire, gigabyte or asus their rma stats of 2018 then you will get your answer.

Mostly morons running at 100% fans and high power.

I have run hundreds of  gpus my failure rate is under 2%.

As I run them at

70% fans
70% power
70c temps

[King_of_Shitcoins]

Look at your poor argument. It's just ridiculous. I post says "WHEN ETH GOES POS". Can you figure out that or not? You can still make money mining coins. Specially with Nvidia ones. But once ETH goes PoS is game over. If today you have to do a great research to win some bucks (and here is were i value my time more than yours, because i don't invest my time on 100$ per month profit) with ETH up, imagine with ETH POS.

Anyway, i will continue to speak clearly here, and sorry, if you work for this and you need this scamm to continue to get your money, SORRY!!! Life is hard.

Miguel you are a class 1 troll. All your posts - it took a while then I remembered your other posts - if you hate Crypto then just leave.
Really - you are a troll - look at your tag line. It says troll in it.

ETH going PoS isn't going to change anything in the Alt-coin world. Simple - that's not a driver.
Sorry you hate everything and you lost money. But losers like you, well, that's the way it goes.

And BTW - you are not speaking clearly - you are a troll.

[shield132]

It's impossible to tell if GPU or ASIC mining will be completely unprofitable in the future.

Many people assumed that CPU mining was dead when there were GPU miners released for Bitcoin. Then other coins became CPU mineable.

Then it was assumed that GPU mining would be dead since ASICs came out and then Litecoin came out with Scrypt which was only possible to mine with GPUs.

Then Litecoin got ASICs and it was the entire cycle all over again with ETH.

So it's impossible to predict.

HDD mining ruins your cycle.
At least if you want to feel safe, you have to stick with ASIC miners to my mind, GPU mining was great and it was guaranteeing that altcoins mining was under people's hands too and wasn't as commercialized as bitcoin mining is now. But as always, good things are getting abused as time goes, can say that same will happen on altcoins and GPU mining will be irelevant in 3 years.

[WickedPigeon]

GPU mining isn’t going away in the next few years.

Why - read any of the papers, minutes or developer discussions from XRD, RVN, GRIN, BEAM or dozen of other anti ASIC/Centralization crypto projects.  There are so many projects that don’t want centralization issues that they will keep forking/adjusting/changing to stop ASICs from dominating the chain.

Right now it’s a cat and mouse game - but soon the technology will be there to stop ASICs altogether. But until then coins will continue to fork to stop ASICs because no one wants centralization of power. And in the end, de-centralized tech will win.

Simple. And yes, the future maybe something other than just GPU - like some of the new algos under development that will mix CPU with GPU making current style of ASICs obsolete. Then ASICs will turn into something else and the cat and mouse will go on. BUT for the next few years, GPU mining isn’t going to die - just morph a little.

[badbart]

I think its more of a question of will the gpu minable coins be around, appreciate and commit to forking?  You need cheap electricity to survive the lean years and not have expectations of crazy profits like in 2017 early 2018.

Also sometimes I hedge my profits short btc to provide a cushion against down tuns. 

[WickedPigeon]

I think its more of a question of will the gpu minable coins be around, appreciate and commit to forking?  

All you have to do is read any of the threads on this topic in this forum to see the number of coins/projects adjusting/forking to counter ASICs. I'm a fan of RVN and they have a great paper out on their plan/roadmap - forking Oct 1. But there are many other coins doing the same thing or will do the same thing when ASICs start showing up.

You need cheap electricity to survive the lean years and not have expectations of crazy profits like in 2017 early 2018.

It helps to have cheap electric, but I pay a very average $.10 (or a little less) here in the US - and my mining is very profitable. As long as you know your costs, you can plan accordingly to make a profit.

Also sometimes I hedge my profits short btc to provide a cushion against down tuns.  

Good for you - selling or pre-selling hedges or Market neutral hedging can be good way to lock in profit - or a good way to miss out on a move. Just depends on what strategy you use.

[Seetth]

Ah Metroid, Metroid, Metroid.... Your stats of 80%... could be right, could be wrong - you are just throwing out BS without support. And that makes YOU the troll.

It seems you are a lottery winner, my friend which had a farm with 300 gpu's had around 60 gpus to fail in the first 180 days and around 40 gpus more to fail in the next 180 days, around 100 gpus out of 300, 33% in a year. All new retail gpus, warranty was only 30 days. A pro miner, now imagine those new trolls mining and thinking they will get rich fast ehhe and few days after they need to send their gpu to warranty and most will hear, "sorry bro, warranty does not cover mining" hehe

I really mean you are a lottery winner, you know that around 15% of gpus fail in the next 3 months after purchase, gaming on it. Now imagine mining 24/7, the card was never meant to do that, ask sapphire for the stats you will know if I'm right or not, reason they stopped honouring warranty if they find out it was used for mining. As far as I know around 60% of gpus returned to sapphire was used on mining and failed in the first 6 months in 2018.

I will rage hard over my providers and I mean hard with that amount of failures in a instant, I have the same GPUS over 3 years non stop and just 1 failed and pretty much was my fault still I got warranty for it, if your history if is true, you friend is buying crap cards, on that ones yes i believe is possible.

About the mining and GPUS its a lottery as someone said before we dont know no one knows im not sure, yes profitability is really low now to the point where I see as option stop the rigs but they still can pay they bills until that happens they will run.

[Metroid]

Ah Metroid, Metroid, Metroid.... Your stats of 80%... could be right, could be wrong - you are just throwing out BS without support. And that makes YOU the troll.

It seems you are a lottery winner, my friend which had a farm with 300 gpu's had around 60 gpus to fail in the first 180 days and around 40 gpus more to fail in the next 180 days, around 100 gpus out of 300, 33% in a year. All new retail gpus, warranty was only 30 days. A pro miner, now imagine those new trolls mining and thinking they will get rich fast ehhe and few days after they need to send their gpu to warranty and most will hear, "sorry bro, warranty does not cover mining" hehe

I really mean you are a lottery winner, you know that around 15% of gpus fail in the next 3 months after purchase, gaming on it. Now imagine mining 24/7, the card was never meant to do that, ask sapphire for the stats you will know if I'm right or not, reason they stopped honouring warranty if they find out it was used for mining. As far as I know around 60% of gpus returned to sapphire was used on mining and failed in the first 6 months in 2018.

I will rage hard over my providers and I mean hard with that amount of failures in a instant, I have the same GPUS over 3 years non stop and just 1 failed and pretty much was my fault still I got warranty for it, if your history if is true, you friend is buying crap cards, on that ones yes i believe is possible.

About the mining and GPUS its a lottery as someone said before we dont know no one knows im not sure, yes profitability is really low now to the point where I see as option stop the rigs but they still can pay they bills until that happens they will run.

See that is the problem, only when it happens to you you will see that mining is worthless, I mean, that is only one case of one of my friends, I had  another friend that lost around 240 gpus from lightning and he had all the protection he could have, in the end he lost all his effort for nothing. He never even think about mining anymore, he said that even if eth hits $30k and returns are 5 months like used to be when it was at best on mining he said he will never try mining ever again, not worth the trouble at all and in the end a simple surge could from nowhere end it all.

[badbart]

Ah Metroid, Metroid, Metroid.... Your stats of 80%... could be right, could be wrong - you are just throwing out BS without support. And that makes YOU the troll.

It seems you are a lottery winner, my friend which had a farm with 300 gpu's had around 60 gpus to fail in the first 180 days and around 40 gpus more to fail in the next 180 days, around 100 gpus out of 300, 33% in a year. All new retail gpus, warranty was only 30 days. A pro miner, now imagine those new trolls mining and thinking they will get rich fast ehhe and few days after they need to send their gpu to warranty and most will hear, "sorry bro, warranty does not cover mining" hehe

I really mean you are a lottery winner, you know that around 15% of gpus fail in the next 3 months after purchase, gaming on it. Now imagine mining 24/7, the card was never meant to do that, ask sapphire for the stats you will know if I'm right or not, reason they stopped honouring warranty if they find out it was used for mining. As far as I know around 60% of gpus returned to sapphire was used on mining and failed in the first 6 months in 2018.

I will rage hard over my providers and I mean hard with that amount of failures in a instant, I have the same GPUS over 3 years non stop and just 1 failed and pretty much was my fault still I got warranty for it, if your history if is true, you friend is buying crap cards, on that ones yes i believe is possible.

About the mining and GPUS its a lottery as someone said before we dont know no one knows im not sure, yes profitability is really low now to the point where I see as option stop the rigs but they still can pay they bills until that happens they will run.

See that is the problem, only when it happens to you you will see that mining is worthless, I mean, that is only one case of one of my friends, I had  another friend that lost around 240 gpus from lightning and he had all the protection he could have, in the end he lost all his effort for nothing. He never even think about mining anymore, he said that even if eth hits $30k and returns are 5 months like used to be when it was at best on mining he said he will never try mining ever again, not worth the trouble at all and in the end a simple surge could from nowhere end it all.

I've been running 100 gpus for 3 years and have avoided lightning strikes, lol.

[adaseb]

I rarely had GPUs actually fail. I've had maybe more than 50% of them all have failing fans after 2+ years but a very small percentage actually ended up with a bad GPU core or VRMs frying. And some of those GPUs actually died due to my misuse, like I dropped one GPU by accident and another I damaged when I was replacing the thermal paste.

And warranty is usually at least a year, for some its up to 3 years even. I think the ones with 30 day warranty were those mining edition GPUs which were manufactured when there was a shortage of GPUs but regular retail GPUs have decent warranties.

There were certain GPUs like the AMD Nano/Fury edition which I heard had very high failure rates however most of the Polaris have been pretty bulletproof for me.

[0xcosmos]

we cannot predict that perfectly for the future
as the history has repeated itself twice
at the start of bitcoin there were many miners using there cpu and gpus to mine it
then after some years
litecoin came and history repeated itself with a surge of new miners using gpus to mine ltc
then after year or two came ethereum which again has a surge of new gpu miners running in to mine some eth
i am sure history will repeat itself and there will be a pow coin in the future that will bring another surge as such

[minerja]

You have to have cheap electricity, I have 4 cents electricity and have never had a one of my 100 GPUs be unprofitable and some are 3 years old.

LOL, then my friend, you are doing something terribly wrong.
I cpu mine, GPU mine (AMD not so much)  but with 1-3 Nvidia cards, in the UK paying over 18p kwh, so way over 22 cents, and have ROI'd all my equipment and make a small amount each month.

[lankymanx]

Hi Metroid,

Did you ever get to recover your 44 character length password for your bitcoin wallet in 2017?
I remember you aid you copied and pasted it and for some reason when u wanted to use the wallet or open it the password was not working.
I wanted to know what you did to recover it since i have a similar issue, please if you can assist

[boris1044]

I have been reading articles that when Etherium 2.0 is released in 2020 you will not be able to mine Etherium with GPU miners. Is this a definite thing or is it still just up in the air?
If we will no longer be able to mine Etherium does this officially make GPU miners irrelevant? Or is it still worth building them for @ home solutions to mine other coins and possibly new coins that could be profitable?

I currently have an 8 RX580 rig that can't really mine anything profitable except for Etherium. (not sure if this rig will be useless in 2020 or not).

I am looking to build another rig with 8 GTX 1070ti cards that will give me more flexibility to mine other algorithms.

Would it be foolish to buy 8 brand new GTX 1070ti cards at $479.99 a pop and build a $5000 rig with the future of GPU mining and where it stands? Even if I buy used the rig will cost about $3800. Just trying to see what peoples thoughts are on this. I am willing to gamble, but don't want to gamble if there is no chance GPU mining will be relevant within the next 2-3 years and we already know this.


If someone can give me an idea of what I am gambling on by continuing to expand my GPU miners in 2019 that would be great.

GPU mining was dead in a few months for how many years now? I put together a 4x 7950 rig in 2013, and it's been more or less profitable for 4+ years despite bitcoin, scrypt, and others all going ASIC. It's not always highly profitable, but at a minimum I get free power for 3-4 months a year because I account the heat output as equivalent to my resistance-based heater. By the time the residual value of the hardware is calculated, it's basically a medium risk hobby.

The reality is too many people want mining to be GPU-based for the ecosystem of mine-able coins to disappear. CPU-based lends itself too easily toward botnets, ASIC based lends itself to centralized manufacturers with the NRE capital, and that leaves GPU as the quasi-distributed platform that enthusiasts center around.

[Metroid]

Hi Metroid,

Did you ever get to recover your 44 character length password for your bitcoin wallet in 2017?
I remember you aid you copied and pasted it and for some reason when u wanted to use the wallet or open it the password was not working.
I wanted to know what you did to recover it since i have a similar issue, please if you can assist

No, there are only 3.5 bitcoins in that wallet, not much but i could use the money for something. I need a better cpu to calculate a higher number of guesses, like i said before, I have no idea the password, I copied and then pasted then after sometime went to see how the wallet was and the password I thought was right wasn't, so I guess I copied but it was not transferred to windows clipboard and then there was something in the windows clipboard, anyway, the password could be anything and that will required a lot of effort to guess it. 3.5 bitcoins is nothing compared how many bitcoins I lost in 2014 x mt.gox and still nothing from that lawsuit yet.

I have the 3600 ryzen, 6 cores 12 threads, will try something, I'm kind lazy, doing some other thing.

[elmanager]

I have been reading articles that when Etherium 2.0 is released in 2020 you will not be able to mine Etherium with GPU miners. Is this a definite thing or is it still just up in the air?
If we will no longer be able to mine Etherium does this officially make GPU miners irrelevant? Or is it still worth building them for @ home solutions to mine other coins and possibly new coins that could be profitable?

I currently have an 8 RX580 rig that can't really mine anything profitable except for Etherium. (not sure if this rig will be useless in 2020 or not).

I am looking to build another rig with 8 GTX 1070ti cards that will give me more flexibility to mine other algorithms.

Would it be foolish to buy 8 brand new GTX 1070ti cards at $479.99 a pop and build a $5000 rig with the future of GPU mining and where it stands? Even if I buy used the rig will cost about $3800. Just trying to see what peoples thoughts are on this. I am willing to gamble, but don't want to gamble if there is no chance GPU mining will be relevant within the next 2-3 years and we already know this.


If someone can give me an idea of what I am gambling on by continuing to expand my GPU miners in 2019 that would be great.

  I bought few days ago 2 rigs 8x1070ti 2500$ each, I think you could got a more fair price. A 1070ti card is around 280-300$.
About  " Is it official that GPU mining is guaranteed to be irrelevant in 2 to 3 years?", that question is putted every 2 years since 2012 and since the crypto winter in Q4 2013 I took it as a part of the vortex, but mostly the Mining is like every other business, you need to understand it, you need to love it, you need MANAGEMENT!

[adaseb]

Hi Metroid,

Did you ever get to recover your 44 character length password for your bitcoin wallet in 2017?
I remember you aid you copied and pasted it and for some reason when u wanted to use the wallet or open it the password was not working.
I wanted to know what you did to recover it since i have a similar issue, please if you can assist

No, there are only 3.5 bitcoins in that wallet, not much but i could use the money for something. I need a better cpu to calculate a higher number of guesses, like i said before, I have no idea the password, I copied and then pasted then after sometime went to see how the wallet was and the password I thought was right wasn't, so I guess I copied but it was not transferred to windows clipboard and then there was something in the windows clipboard, anyway, the password could be anything and that will required a lot of effort to guess it. 3.5 bitcoins is nothing compared how many bitcoins I lost in 2014 x mt.gox and still nothing from that lawsuit yet.

I have the 3600 ryzen, 6 cores 12 threads, will try something, I'm kind lazy, doing some other thing.

Is your password really 44 characters in length? If its really that long and unless its just numbers, then it seems impossible to crack even with all the CPU power on the planet right now. Its difficult to crack a +10 character random password and for something that is 4 times as long its almost impossible.

3.5 BTC is actually alot these days still, you can get a decent car for that much money. I really feel bad that you can't get it opened.

What did those password recovery service people say? Did they say it was impossible? If not  then give them a call maybe.

[Metroid]

Is your password really 44 characters in length? If its really that long and unless its just numbers, then it seems impossible to crack even with all the CPU power on the planet right now. Its difficult to crack a +10 character random password and for something that is 4 times as long its almost impossible.

3.5 BTC is actually alot these days still, you can get a decent car for that much money. I really feel bad that you can't get it opened.

What did those password recovery service people say? Did they say it was impossible? If not  then give them a call maybe.

Well I do have a bsc in computer science, I know my chances. I was thinking about giving to experts hoping they will crack it somehow, They do charge 20% which is fair but before that I need to put my mind on it and try few things, like I said before I have no idea what the password could be or its length, I'm sure it was windows clipboard feature, copied and pasted it wrongly. It could be a word, a sentence, 44 length password is what I used but since it has not worked, it means it was something else at that time in the windows clipboard because I had used it before on that same wallet and it worked, took out around 100 or so btc that I had in that wallet and left 3.5 btc and it was the only wallet that I had problems after that, all the other wallets I had, around 25 or so, had no problems at all.