GPU mining is dead. Yeah, sure thing!

[Commie]

Being quite sarcastic with the topic name, but this is what I constantly hear since 2017 when I first got into mining. Just remembered it again today when my finance calculator told me I've reached the ROI for one of 2 3080 cards I bought in mid-March for $2200 each. This brought a huge smile to my face 

[FP91G]

This is possible if you have not been selling your coins all this time. If the price of Ethereum rises by another 10-20%, then you will quickly recoup the second video card. Block fees have grown a bit again

[Commie]

This is possible if you have not been selling your coins all this time. If the price of Ethereum rises by another 10-20%, then you will quickly recoup the second video card. Block fees have grown a bit again

You're right, I wasn't selling any except to cover electricity bill for the entire household. I've noticed increased block fees today too, a pleasant surprise

[philipma1957]

It may be this July  2020 to May 2021 run matches

April 2016 to March 2017



That would mean we could have good times until Dec 2021 - Feb 2022

If that happens I will be very happy.

[batsonxl]

me too 

[HashingTower]

Lol, I've sold most of my graphic cards at good price after making hundreds of dollars from each one, very happy with my strategy but now I feel like I'm missing out, waiting for bear market to buy more cards at cheaper rate

[CryptoATM]

Being quite sarcastic with the topic name, but this is what I constantly hear since 2017 when I first got into mining. Just remembered it again today when my finance calculator told me I've reached the ROI for one of 2 3080 cards I bought in mid-March for $2200 each. This brought a huge smile to my face 

In just one month and two weeks? That's impossible 😂😂😂😂 you will need to give me the math before I can believe that, or are you talking about march 2020? 2200$ per RTX3080 seem lik this year to me, pls explain yourself OP 🤣

[philipma1957]

Lol, I've sold most of my graphic cards at good price after making hundreds of dollars from each one, very happy with my strategy but now I feel like I'm missing out, waiting for bear market to buy more cards at cheaper rate

Yeah you may have left too soon.  You may find the cards will go up in price.


https://wccftech.com/galax-launches-geforce-rtx-3080-rtx-3070-lhr-lite-hash-rate-graphics-cards-to-combat-cryptocurrency-mining

if all cards come out as LHR soon then the older 3080 ,3070 will be god like.

[ummasek]

I`m just little sad, that i didnt spend more cash for 3080.
Now it gets hot...heat kills my hashrate on somme gpu`s
Thats why i`m a little sad

Lol, I've sold most of my graphic cards at good price after making hundreds of dollars from each one, very happy with my strategy but now I feel like I'm missing out, waiting for bear market to buy more cards at cheaper rate

I`ve planed to do it in february...if i do it, i would be verry sad now.

[arielbit]

this is not a financial advice.

 but the previous cycle showed that you can still ROI 1 year from the peak of the bull run (more like the first year of bear market). of course it depends on "your circumstances/situation".

[philipma1957]

this is not a financial advice.

 but the previous cycle showed that you can still ROI 1 year from the peak of the bull run (more like the first year of bear market). of course it depends on "your circumstances/situation".

Yeah the 1080tis I purchased in feb 2018 still were making profits each and every month I owned them until I sold them in fall 2020.

so they made money for 29 months in a row. and the buyers also made money with them from dec 2020 to may 2021.

so they have made money for 37 months in a row.

but some months they made only 15 profit for the whole month.

other months they made profit over 300 a month.

A lot depends if you have a power deal.

I have a 1 card alienware 3070 rig.
it burns 180 watts on the kwatt meter. that is 4.5 kwatts a day.

at 5 cent power it comes to  23 cents a day to run it.

the card could do 60 mh say mh drops from 13 cents to 1 cent that comes to 60 cents so 60-23 = 37 cents.

in a real long time it would make a profit and pay off. if we drop to 37 cents roi is 3500 days.

[adaseb]

this is not a financial advice.

 but the previous cycle showed that you can still ROI 1 year from the peak of the bull run (more like the first year of bear market). of course it depends on "your circumstances/situation".

Well if I recall when ETH peaked in Jan 2018, it was still profitable mining it all the way until Nov 2018, but from there on, unless you got very cheap power it just wasn't worth it. It would of been better to buy it instead of mining it. So it was almost a year ~10 months.

With 2014 peak however it was different. Everything topped in Nov 2013 however the profits quickly were evaporating especially if you were mining with GPUs. I remember with a R9 280X, you made like $10/day in Jan 2014, then $5/day in Feb, $2.50,$1.25,etc,etc. It got quickly unprofitable sometime in May-June. Mostly due to the fact that each GPU used like 300 Watts instead of 100 Watts like today.

[Bravehash]

Always in haste, that's what people do when they buy cards for mining, they don't have the waiting patience through and through, if you have cheap electricity or solar I don't see any reason why you should sell your GPU even in bear market and now that crypto is more popular I doubt that mining will be less profitable like what we saw in 2018

[arielbit]

this is not a financial advice.

 but the previous cycle showed that you can still ROI 1 year from the peak of the bull run (more like the first year of bear market). of course it depends on "your circumstances/situation".

Well if I recall when ETH peaked in Jan 2018, it was still profitable mining it all the way until Nov 2018, but from there on, unless you got very cheap power it just wasn't worth it. It would of been better to buy it instead of mining it. So it was almost a year ~10 months.

With 2014 peak however it was different. Everything topped in Nov 2013 however the profits quickly were evaporating especially if you were mining with GPUs. I remember with a R9 280X, you made like $10/day in Jan 2014, then $5/day in Feb, $2.50,$1.25,etc,etc. It got quickly unprofitable sometime in May-June. Mostly due to the fact that each GPU used like 300 Watts instead of 100 Watts like today.

This is the time when scrypt was ASIC'd and then monero with cryptonight algo continued profitability for quite a while and some shitcoins along the way before ethereum comes to save the day.

[philipma1957]

Always in haste, that's what people do when they buy cards for mining, they don't have the waiting patience through and through, if you have cheap electricity or solar I don't see any reason why you should sell your GPU even in bear market and now that crypto is more popular I doubt that mining will be less profitable like what we saw in 2018

yep 👍 five cent power with gpus pretty much makes money all the time.

[swogerino]

I used to listen to that saying quite a lot and almost started believing it.Fortunately I started again on 16 March 2021 with Rx 6800 XT cards and Rx 5700 XT and so far I have made 2000 USD by mining so the way it is going is great,I think Ethereum may hit 50000 USD in March 2022 and I am not selling anything until then.

[fluxy12]

Where is metroid ?

[philipma1957]

Where is metroid ?

Well he said he held 20% of his eth.  I wonder what point he will sell some of it.

4130 usd is quite high price for it.

$.1534 a mh

my 3080's are doing around 14-16 a day

[Metroid]

Where is metroid ?

Lurking hehe

Where is metroid ?

Well he said he held 20% of his eth.  I wonder what point he will sell some of it.

4130 usd is quite high price for it.

$.1534 a mh

my 3080's are doing around 14-16 a day

I'm planning to sell close to 4.6 ~ 5k which is what i said would be the top, trolls are waiting it to go to 10k but I believe 10k eth is a huge bulltrap, I will be happy with anything close to 5k, I believe eth will go higher because btc is not yet its top which I believe will be 79k. What I will do is, as soon as eth go higher than 4600 usd, i will do a stop limit order at 4600 usd, then if it crashes it will hit my sell order, if not then i will see where it will go then decide if i will increase the limit stop order aka stop loss.

[cudapop]

I'm planning to sell close to 4.6 ~ 5k which is what i said would be the top, ...

Are you planning to ladder out (i.e. cost average out) or sell all in one go?

I'm also interested to hear from others who have been mining/saving their ETH since 2018. How are you guys planning to sell? Laddered? One shot?