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

[DigitalAssetInvestor1]

It depends on your electricity rate.

[1714059416]

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[1714059416]

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[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.