Mining season is here again

[Eco_111]

If you have any old miners laying around, obsolete or not now is the time to consider firing them up, altcoin season is here and no matter how many quantities of those coins you mine it will still be profitable, the season is here again, do not miss out, even Ethereum is over 1000$

[laineux]

I don't understand this so popular reasoning

When ETH was about 100$ (2018 to begining 2020), the ROI with coin holding was much better (about 5 times from now)
All of you who stop mining when coins are low loosed lot of money.

[Jonet]

I fired up 2 of my Antminer L3+ Litcoin miners today. Anyone know what firmware is recommended?  I use Blissz v1.02 but I noticed there are many different versions out promising up to 720MHz

And about mining when price is down; don't you think it's better to just buy the coin when electricity is more then what you mine is worth?

[Greatdev]

This advice is only good for those who don't have a penny to invest in crypto right now but have old miners, they can mine and expect good rewards since Ethereum and few other minable altcoins are surging, investing is way better than mining

[FP91G]

To mine Ethereum, you need video cards with a memory of 5-6 GB or more. 4 GB video cards will soon become irrelevant, and used
video cards have already been sold out at good prices.
And on mining other coins, 4 GB of video cards give a small profit

[agente]

If you have any old miners laying around, obsolete or not now is the time to consider firing them up, altcoin season is here and no matter how many quantities of those coins you mine it will still be profitable, the season is here again, do not miss out, even Ethereum is over 1000$

Mining season started in jan/feb and now it's just ending phase.. again and again the same story

[malekbaba]

History repeats. Once I was a miner. I still miss those days. I mined 40 ETH with a single gpu and sold at 125 USD each. That was best mining time. Last year my friend bought amds and started mining eth. That time Eth was 250. He has made a good profit after a year.

[adaseb]

Yes its profitable but no where near the profitability that we had back in late 2017 early 2018. I remember each of my RX 470 GPUs were pulling in an average of $5/day/gpu and some 1080Ti which were able to dual mine were pulling in $10+ per day per GPU.

Now the RX 470 8GB makes an average of $2.50-$3 or so. Most of it is due to the huge transactions fees for ETH transactions. There were times in the last 24 hours when the average transaction was 500 Gwei, while the average is normally 50 Gwei or so.

So when the hype ends in a day or so the fees will be back down and revenue will be maybe $1.50/gpu/day. While in 2018 if I recall most of the profits were in the miner reward of 5 ETH per block and not much was based on ETH transaction fees.

Either way, profits are as good as they were since middle of 2018 so can't complain.

[philipma1957]

Yes its profitable but no where near the profitability that we had back in late 2017 early 2018. I remember each of my RX 470 GPUs were pulling in an average of $5/day/gpu and some 1080Ti which were able to dual mine were pulling in $10+ per day per GPU.

Now the RX 470 8GB makes an average of $2.50-$3 or so. Most of it is due to the huge transactions fees for ETH transactions. There were times in the last 24 hours when the average transaction was 500 Gwei, while the average is normally 50 Gwei or so.

So when the hype ends in a day or so the fees will be back down and revenue will be maybe $1.50/gpu/day. While in 2018 if I recall most of the profits were in the miner reward of 5 ETH per block and not much was based on ETH transaction fees.

Either way, profits are as good as they were since middle of 2018 so can't complain.

Make coin while you can. 

I have some cards mine since 2016.  But In july I decided to expand my cards.

I did well last year.

[Mighty_crypt]

Yes its profitable but no where near the profitability that we had back in late 2017 early 2018. I remember each of my RX 470 GPUs were pulling in an average of $5/day/gpu and some 1080Ti which were able to dual mine were pulling in $10+ per day per GPU.

Now the RX 470 8GB makes an average of $2.50-$3 or so. Most of it is due to the huge transactions fees for ETH transactions. There were times in the last 24 hours when the average transaction was 500 Gwei, while the average is normally 50 Gwei or so.

So when the hype ends in a day or so the fees will be back down and revenue will be maybe $1.50/gpu/day. While in 2018 if I recall most of the profits were in the miner reward of 5 ETH per block and not much was based on ETH transaction fees.

Either way, profits are as good as they were since middle of 2018 so can't complain.

You are right but it's too early to tell, Ethereum haven't reach 1400$ ATH like it did in 2018 and bitcoin is still very bullish too so miners can still make more money mining this year still, few weeks back a RX580 can only give 1.25$ per gpu

[Metroid]

sell all your coins at moment, we will see a retrace next few days to weeks and will take sometime to rise again to new highs if possible, also, in times like this, you have to sell your mined coin every payout, thank me later.

[smoolae]

Was rather surprised to see that mining is paying out pretty well again. I myself am not mining but my brother decided to give it a try and supposedly he's earning around 3 eur a day per every GTX 1060.

[malekbaba]

Eth 2.0 is coming. A lot ethash miners will not be ablr to mine eth. Ultimately they will switch into new algo. So eth 2.0 will change lot if things. So gpu mining will be questionable.
After correction, eth gas price will be normal. So profitability will be reduced

[JHORN]

There is no bad time for mining pal, those who have been mining Ethereum for months before 2021 are the top gainers right now I believe, the fact is even if mining isn't profitable again just keep mining because value won't ever stay at the same place forever, when there is pump and bullrun you will make all the gains while holding your coins

[bitquad]

This advice is only good for those who don't have a penny to invest in crypto right now but have old miners, they can mine and expect good rewards since Ethereum and few other minable altcoins are surging, investing is way better than mining

In my case the rigs are heating the house. I have a choice: heat my home office with an electrical space heater, gas heater or mining rig. No brainer to use the mining rig. I turn the rig off in the summer.

Investing make sense if you can buy in at a low price. Right now with Ethereum @ $1000 you can get 3-4 ETH per month spending $900 on electrical. That means you are paying $225-300 per ETH. That's a bargain price. Now of course if ETH goes down to $100 it is cheaper to buy and not mine.

[bitquad]

Was rather surprised to see that mining is paying out pretty well again. I myself am not mining but my brother decided to give it a try and supposedly he's earning around 3 eur a day per every GTX 1060.

Yes it picked up for me also. Peak was up to $140 per day with 41 GPUs. Of course I am not converting to cash so it makes no difference. I was mining when profits were zero lol!

[FP91G]

Eth 2.0 is coming. A lot ethash miners will not be ablr to mine eth. Ultimately they will switch into new algo. So eth 2.0 will change lot if things. So gpu mining will be questionable.
After correction, eth gas price will be normal. So profitability will be reduced

We all hope this party will last for a few more years .
I also expect that after a while the price of the coin will fall, but I do not think that this fall will be large.

[jstefanop]

I don't understand this so popular reasoning

When ETH was about 100$ (2018 to begining 2020), the ROI with coin holding was much better (about 5 times from now)
All of you who stop mining when coins are low loosed lot of money.

This is the basic logic that most people dont understand. The mining seasons is NOT now, it was two years ago at minimum diff when you could have mined way more ETH/LTC/BTC than you can now with overpriced hardware.

Mining is not about USD "profits" its about how much crypto you can mine and hold. Anyone who mined and held two years ago is 100x better than someone who starts mining now because of "crazy USD profits".

[deskless]

I don't understand this so popular reasoning

When ETH was about 100$ (2018 to begining 2020), the ROI with coin holding was much better (about 5 times from now)
All of you who stop mining when coins are low loosed lot of money.

This is the basic logic that most people dont understand. The mining seasons is NOT now, it was two years ago at minimum diff when you could have mined way more ETH/LTC/BTC than you can now with overpriced hardware.

Mining is not about USD "profits" its about how much crypto you can mine and hold. Anyone who mined and held two years ago is 100x better than someone who starts mining now because of "crazy USD profits".

Assuming the person can grab hardware at a reasonable rate, it is never a bad idea to start mining if the kwh is low

[rdluffy]

Mining is not about USD "profits" its about how much crypto you can mine and hold. Anyone who mined and held two years ago is 100x better than someone who starts mining now because of "crazy USD profits".

You are not wrong, but there's no truth about mining

You can mine for USD profits and withdraw in fiat every month to pay for your gpu and electricity, and to buy another hardware
You can mine for a long period and even at loss, when diff is minimum, but you have to pay for yourself the electricity

There's some people mining to secure network of their desired coin, or gamers mining to at least pay some percentage of their PCs

This is the beautiful side of GPU mining and cryptos, it's decentralized, everyone with a GPU can mine

I mined since 2017, but after the crash of 2018 I sold my hardware to buy again in the early 2020, and now I have a very small farm, but I'm doing good

I'm happy because I spent more than 6 months only mining and taking 20% to pay electricity, and now I have the coins to sell, it's better, but we don't know the future, maybe it's going to last 1 month of crazy profits, or 3, or the entire year...