GPU mining is dead. Yeah, sure thing!

[mak013]

Enough already metroid, all those weeks is already enough to make most of your money invested on GPUs back, I'm glad I don't follow your warnings because I bought my GPUs at Feb of this year and now Ive made them ROI back

hehe, well, I purchased my 2 3080 for 1k usd each in february too but i dont mine with them, I actually use for important stuff, 1, I use for gaming and the other one for deep learning. I'm not a miner, actually, I have never been one, even in bitcoin earlier era, I have always been an investor, buy and sell and vice versa, mining is for losers but hey, is one of my hobbies know about mining and its economics because to be a successful investor in crypto i had to learn about it.

BULLS*t Mining is for losers.... I've made well over 13K just from mining alone and with the coins was able purchase what I needed and still going strong.. Pfff, you don't knoow what the hell you're talking about.

There are different ways to get money. I dont know how to trade but my skills are nice for mining. Someone is good in trading but cant understand how to mine. Noone can know everything.

[arielbit]

LOL at massive dumps today 

illiquid shitcoins: "what is dead may never die"

[Metroid]

LOL at massive dumps today  

illiquid shitcoins: "what is dead may never die"

funny, trolls saying all the time china banned btc, I guess little they know, china banned btc in 2014 and 2018 too and that was one of the reasons btc crashed to hehell too ehhe, the chinese always create a story to ban btc again and again to crash it hehe, funny the chinese only bans it when they want to crash it ehhe

I still have that 20% that I'm willing to lose, now I say that " I wished I had sold" phrase however when it was that high I would not sell ehhehehehehe

Few days ago I transferred most of my usdc to my hardware wallet just in case, some exchanges when this happen simply disappears, so need to be extra careful from here on, in times like this must never leave coins in exchanges if you are not going to sell. I thought btc would not crash below 32k and it did, so my expectations are always off, it always crashes or rises more than I think.

This might rebound fast and then crash hard again, need to observe the dead cat bounce syndrome now. I'm still hesitant to sell those 20% that I'm willing to lose. This might have been a trap for all we know.

The good thing if this keeps crashing, gpus will be very cheap ehhehehehe, nvidia will revert their lock eth mining bs because nobody will buy gpus anymore and so on hehe

Also about mining, mining profits also crashed 40% and hashrate still increasing hehe, now is the race who will start leaving the mining game, little by little people will start leaving the dream --> " get rich fast" in mining hehe, the dream will become a bother, nightmare, not fun anymore game hehehe, funny, like in 2018 most will not even get 30% of the roi.

[mak013]

Also about mining, mining profits also crashed 40% and hashrate still increasing hehe, now is the race who will start leaving the mining game, little by little people will start leaving the dream --> " get rich fast" in mining hehe, the dream will become a bother, nightmare, not fun anymore game hehehe, funny, like in 2018 most will not even get 30% of the roi.

Mining is ok. Wtm shoes today i mine more than yesterday. Commissions grew up. Today i mine x2-2.5 ETH, or x1.5 if count in USD. Of course it will be about 1-2 days i think, but tomorrow can be pump and i`ll get x3. But noone knows pump or dump we shall see

[Bitbtc8]

What goes up forever? Nothing I guess so it's stupid to keep buying graphic cards thinking that this present mining reward will be here forever, you will end up been disappointed, GPU mining is here to stay but rewards from here on won't be satisfying so how prepared are you guys? Even ETH going PoS fully this year isn't a joke.

[FP91G]

What goes up forever? Nothing I guess so it's stupid to keep buying graphic cards thinking that this present mining reward will be here forever, you will end up been disappointed, GPU mining is here to stay but rewards from here on won't be satisfying so how prepared are you guys? Even ETH going PoS fully this year isn't a joke.

Even now, it is profitable to buy video cards, because the payback period for the equipment is about 8 months. Analysts say that by the end of the year the prices for video cards will be very high and there will be a shortage of video cards on the market.
I think that it will end only after the start of the work of Ethereum on the POS algorithm

[Daltonik]

In the first quarter of 2021, Nvidia's sales increased by 84% compared to last year. The company acknowledged the contribution of miners to the growth of the business, but said that it is difficult to assess. https://seekingalpha.com/article/4431541-nvidia-corporation-nvda-ceo-jensen-huang-on-q1-2022-results-earnings-call-transcript

_{We believe gaming also benefited from crypto mining demand, although it's hard to determine to what extent. We've taken actions to optimize GeForce GPUs for gamers, while separately addressing mining demand with Cryptocurrency Mining Processors, or CMPs...To help address mining demand, CMP products launched this quarter, optimized for mining performance and efficiency because they don't meet the specifications required of a GeForce GPU, they don't impact the supply of GeForce GPUs to gamers. CMP revenue was $155 million in Q1 reported as part of the OEM and other category. And our Q2 outlook assumes CMP sales of $400 million. - Nvidia CFO Colette Kress}

[philipma1957]

As of this morning eth pays only  $0.0724 a mh

It peaked at close to $0.2100 a mh

translation

a 100 mh nvidia 3090 now earns $7.24 a day
it did earn as high as $22.00 a day

it burns about 300 watts in a 1 card rig or 7.2kwatts a day

burns
at
$ kwatt>>daily>>monthly>>>yearly
50 cents $3.60.....$108.00......$1296.00
40 cents $2.88.....$ 86.40.......$1036.80
30 cents $2.16.....$ 64.80.......$ 777.60
25 cents $1.80.....$ 54.00.......$ 648.00
20 cents $1.44......$ 43.20.......$518.40
15 cents $1.08......$ 32.40.......$388.80
10 cents $0.72.....$ 21.60......$ 259.20
 5 cents  $0.36.....$ 10.80......$ 129.60
 3 cents  $0.22.....$  6.48.......$  77.76

earns
at

20 cents an mh  $20.00....... $600.00....... $7200.00
19 cents an mh  $19.00....... $570.00....... $6840.00
18 cents an mh  $18.00......
17 cents an mh  $17.00......
16 cents an mh  $16.00......
15 cents an mh  $15.00...... $450.00........$5400.00.  gold for they are as good as gold


14 cents an mh $14
13 cents an mh $13
12 cents an mh $12
11 cents an mh $11
10 cents an mh $10.00....... $300.00.......$3600.00

09 cents an mh $ 9.00..........$270.00.....$3240.00
08
07 cents an mh $ 7.00........ $210.00 ......$2520.00  
06
05
04 cents an mh $4.00........ $120.00........$1440.00 these are all in the black even with 40 cent power you make 440 a year

03 cents an mh $3.00.........$ 90.00
02 cents an mh $2.00.........$ 60.00
01 cents an mh $1.00.........$ 30.00 red for you are close to dead
 

so at 07 cents today it earns 2520 in a year and burns 518.40 at 20 cent power so a 3080 still makes about 2000 in 1 year. If you have 20 cent power.

[adaseb]

In the first quarter of 2021, Nvidia's sales increased by 84% compared to last year. The company acknowledged the contribution of miners to the growth of the business, but said that it is difficult to assess. https://seekingalpha.com/article/4431541-nvidia-corporation-nvda-ceo-jensen-huang-on-q1-2022-results-earnings-call-transcript

_{We believe gaming also benefited from crypto mining demand, although it's hard to determine to what extent. We've taken actions to optimize GeForce GPUs for gamers, while separately addressing mining demand with Cryptocurrency Mining Processors, or CMPs...To help address mining demand, CMP products launched this quarter, optimized for mining performance and efficiency because they don't meet the specifications required of a GeForce GPU, they don't impact the supply of GeForce GPUs to gamers. CMP revenue was $155 million in Q1 reported as part of the OEM and other category. And our Q2 outlook assumes CMP sales of $400 million. - Nvidia CFO Colette Kress}

Nvidia is not the only company to have similar earnings like this compared to last Q1 2020. Look at Apples sales on iPads. I think their's was something like 80% more iPad sales in 2021 compared to 2020.

If I recall when the pandemic started, everybody wanted to get an iPad or Macbook because they were stuck at home and wanted to play with apps and watch Netflix. You would go on Craigslist and prices increased maybe by 50% for second hand iPads. I remember an iPad Air was like around $100 before the panedmic, after the pandemic it was like $150 or so.

The stores were closed so you couldn't go in person to buy one. Later the sales were online only and people finally could start  buying them. So this is why the Q1 2020 sales were so little compared to Q1 2021 so it shouldn't be a big surprise.

[64dimensions]

Here is what I don't get.

 Nvidia must have some insight on the future of GPU mining. Popular thought has ETH POS coming online soon. Why then do you announce

more nerfed GPU offerings? Why go to the trouble of complicating your supply chain since in a few months ETH POS should dampen if not kill off

GPU mining demand?

[batsonxl]

What goes up forever? Nothing I guess so it's stupid to keep buying graphic cards thinking that this present mining reward will be here forever, you will end up been disappointed, GPU mining is here to stay but rewards from here on won't be satisfying so how prepared are you guys? Even ETH going PoS fully this year isn't a joke.

Many people will stop mining or even sell gear,right now people selling when still prices are overpriced. I see rig prices are better than last month. It is too early say anything i think couple years later will be more clear. 1 thing makes me think positive is amd and nvidia these 2 companies are giants and they tasted 1st cake ever since bitcoin existed. They know how much money brings from gamers and miners. Miners was best profit for these 2 companies and i dont think they will lose this valubale customer.

[jasta more]

Here is what I don't get.

 Nvidia must have some insight on the future of GPU mining. Popular thought has ETH POS coming online soon. Why then do you announce

more nerfed GPU offerings? Why go to the trouble of complicating your supply chain since in a few months ETH POS should dampen if not kill off

GPU mining demand?

Because there is still large number of gamers that wants to buy new gpus but can't because AMD and Nvidia are selling gpus straight to miners for higher prices.Eth diff from beginning of the year is proof that gpus are being manufactured and not "logistics/korona" problems

[Samayuki]

GPU mining don't look so good to me right now because of the upcoming eip1559 upgrade that will surely reduce mining rewards and also we still don't know if ETH will walk away from PoW algorithm, if that happens GPU mining will be in trouble because no new altcoin or old altcoin can handle all the Hashrate power from ETH network

[Trechometer]

Here is what I don't get.

 Nvidia must have some insight on the future of GPU mining. Popular thought has ETH POS coming online soon. Why then do you announce

more nerfed GPU offerings? Why go to the trouble of complicating your supply chain since in a few months ETH POS should dampen if not kill off

GPU mining demand?

Nice, I think you are right! NVIDIA will fall in a couple of years with its latest decisions about their GPU's.

[btcshiner]

Here is what I don't get.

 Nvidia must have some insight on the future of GPU mining. Popular thought has ETH POS coming online soon. Why then do you announce

more nerfed GPU offerings? Why go to the trouble of complicating your supply chain since in a few months ETH POS should dampen if not kill off

GPU mining demand?

Nice, I think you are right! NVIDIA will fall in a couple of years with its latest decisions about their GPU's.

Nvidia can just do what it did after the last bull run and sunset their mining card division and take a write off. 

For a new product line they said they did $150 million in CMP card sales last quarter and expect to do $400 million this quarter.  Big farms are spending a lot still and Nvidia is playing all angles right now.