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

[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.