darkdude (OP)
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May 17, 2021, 07:03:18 PM |
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I have been mining Eth since Sept 2017, and I have heard my share of GPU mining is dead POS is around the corner. But I can honestly say that with 1559 this summer (July I believe) and the recent announcement that the diff bomb will be delayed until Dec 2021, we are looking at the dead of ETH GPU mining by the end of the year.
And I have been reading the same news as everyone else that there is no minable coin we can switch our GPUs post post ETH POW that has the market cap to make GPU mining profitable.
So I plan on selling all my GPUs probably in the fall (while GPU prices remain very high) and would like to move to something different.
Question is what does that "new normal" look like. It would seem to me the only real options if I want to stick with mining is BTC or XMR. For XMR, I dont know of any profitable approach that gives a reasonable ROI, and for BTC its hard to get into with the high prices of ASICs for a hobby/home miner.
what are other ETH miners thinking around their plans?
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"Bitcoin: mining our own business since 2009" -- Pieter Wuille
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Xazax310
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Activity: 246
Merit: 24
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May 18, 2021, 02:05:13 AM |
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I have been mining Eth since Sept 2017, and I have heard my share of GPU mining is dead POS is around the corner. But I can honestly say that with 1559 this summer (July I believe) and the recent announcement that the diff bomb will be delayed until Dec 2021, we are looking at the dead of ETH GPU mining by the end of the year.
And I have been reading the same news as everyone else that there is no minable coin we can switch our GPUs post post ETH POW that has the market cap to make GPU mining profitable.
So I plan on selling all my GPUs probably in the fall (while GPU prices remain very high) and would like to move to something different.
Question is what does that "new normal" look like. It would seem to me the only real options if I want to stick with mining is BTC or XMR. For XMR, I dont know of any profitable approach that gives a reasonable ROI, and for BTC its hard to get into with the high prices of ASICs for a hobby/home miner.
what are other ETH miners thinking around their plans?
My plan, YOLO. Let the weak hands leave. The market will stabilize. Crypto's are the future. |
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Bravehash
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May 18, 2021, 06:23:55 AM |
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OP XMR is even more harder to mine than other altcoins in crypto space, I'd rather look into ETC and others but all we can do is wait and see how things play out, I've sold most of my cards already and I would buy back when bear market is done for
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Stanlo
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May 18, 2021, 06:36:34 AM |
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Even if eip1559 got cancelled bear market will come anyways, many are now blinded thinking bear market is gone forever simply because bitcoin hit a new ATH over 50k this year, the truth is bitcoin can still go as low as what we've seen before
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sxemini
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May 18, 2021, 10:18:58 AM |
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Mining ERG is more profitable than ETH or ETC and you can use 4GB cards. An RX570 can do aorund 64mh on ERG (algo -> autolykos2). An 1050ti do around 30mh. You can also dual mine ERG with ZIL ->nanominer or srbminer
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Skinny48
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May 18, 2021, 02:32:52 PM |
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Mining ERG is more profitable than ETH or ETC and you can use 4GB cards. An RX570 can do aorund 64mh on ERG (algo -> autolykos2). An 1050ti do around 30mh. You can also dual mine ERG with ZIL ->nanominer or srbminer
Is this a new proof of work coin or old? ERG sounds familiar, is there any link to ERG mining calculator so I can check the cards I currently have? It's pretty hard to believe that another coin can be more profitable than Ethereum mining right now |
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FP91G
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Merit: 1031
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May 18, 2021, 03:22:41 PM |
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https://ergoplatform.org/en/mining/Try it while this coin is more profitable. I was able to register only on the TradeOgre exchange
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Ceyflix-Rez
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$CYBERCASH METAVERSE
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May 18, 2021, 03:54:11 PM |
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Tradeogre needs no KYC right? It's good to see a new coin that's more profitable to mine than Ethereum but I guess this won't last very longer, |
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Ceyflix-Rez
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$CYBERCASH METAVERSE
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May 18, 2021, 03:55:27 PM |
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Mining ERG is more profitable than ETH or ETC and you can use 4GB cards. An RX570 can do aorund 64mh on ERG (algo -> autolykos2). An 1050ti do around 30mh. You can also dual mine ERG with ZIL ->nanominer or srbminer
Is this a new proof of work coin or old? ERG sounds familiar, is there any link to ERG mining calculator so I can check the cards I currently have? It's pretty hard to believe that another coin can be more profitable than Ethereum mining right now Ergo isn't a new coin, this coin has been around before 2018 and I think the reason why it's profitable to mine now is because the price have surge higher than before, few others coins like ETC are able to be profitable due to the market value as well |
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skablast
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Merit: 19
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May 18, 2021, 07:19:15 PM |
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Mining with Gpus is not cool( and profitable) anymore. Better leave, slowly, and jump on the CHIA bandwagon.
Less risk and more rewards. Once ethereum will die, erg, rvn and the rest can't substain 1 /10 of the miners of ethereum, so difficulty will increase and it will become less and less profitable.
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Looper_U
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$CYBERCASH METAVERSE
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May 19, 2021, 05:49:17 AM |
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Mining with Gpus is not cool( and profitable) anymore. Better leave, slowly, and jump on the CHIA bandwagon.
Less risk and more rewards. Once ethereum will die, erg, rvn and the rest can't substain 1 /10 of the miners of ethereum, so difficulty will increase and it will become less and less profitable.
I'm wondering why you aren't scared of chia network that grows 10% per day, I'm not sure you will make back what you invested and there are few other things to be worried about, if a HDD dies your plot is gone and if your SSD or NVMe M2 for plotting dies due to TBW you have to buy another, there is high chances that this will happen |
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FP91G
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May 19, 2021, 03:18:26 PM |
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Tradeogre needs no KYC right? It's good to see a new coin that's more profitable to mine than Ethereum but I guess this won't last very longer, I have not found KYC on this exchange. Graphics cards that mine Ethereum, I will not switch to another coin. I tried to switch 1 farm and after 5 minutes the farm stopped mining. It's very hot now - bad time to experiment. It's good that farms have no problems with Ethereum mining. |
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