Eth moving away from POW- Will GPU mining be lucrative

[Woodie]

Something interesting I just read "Ethereum plans to complete its transition to a 'Proof-of-Stake' protocol in the coming months, which is expected to end mass-mining for the cryptocurrency using GPUs."

Read more  https://www.pcmag.com/news/hope-for-prospective-gpu-buyers-ethereum-prepares-to-phase-out-mining

[Metroid]

nothing is lucrative on bear time, on bull time everything is lucrative even that crap 5 year old gpu you left for dead, 2 extremes.

[FP91G]

nothing is lucrative on bear time, on bull time everything is lucrative even that crap 5 year old gpu you left for dead, 2 extremes.

5 year old crap - these are PX 470, PX 480, 1060 and 1070 - the best and most profitable video cards now.
Even 7 year old video cards are profitable today.

As long as mining is profitable, we will work.
When costs exceed profit, most miners will stop mining unless new Ethereum appears

[Kazkar]

nothing is lucrative on bear time, on bull time everything is lucrative even that crap 5 year old gpu you left for dead, 2 extremes.

5 year old crap - these are PX 470, PX 480, 1060 and 1070 - the best and most profitable video cards now.
Even 7 year old video cards are profitable today.

As long as mining is profitable, we will work.
When costs exceed profit, most miners will stop mining unless new Ethereum appears

I think that now many have felt a drop in profits. If this trend continues, you will have to suspend mining again.

[Metroid]

I think that now many have felt a drop in profits. If this trend continues, you will have to suspend mining again.

99% of miners today will not exist once btc crashes to around 8k ~ 12k and eth to around 250 ~ $400. Plus these new asics really kill eth gpu mining, old asics not as strong as the new ones for eth.

[Nhazwrath]

there are Lots of other things to mine then ETH.   And I suspect what ever the miners settle on will replace eth pretty fast.   despite the asics.  And i make this prediction not because i have some weird knowledge about cryptos  I dont.

I make it due to the really large amount of money looking for places to invest and if it even looks slightly ok it gets money(willshire 5000 index)  has So much more money then USA GDP in it that it literally just flows all over the place.

[poby]

I hope I'm wrong but I believe if and when eth goes POS, gpu mining will stop being profitable for most people.  Right now most gpus are hashing eth and when that huge hash power is turned to other coins, their difficulty will shoot up and profitability will plummet.  I can't see any other alternative to this happening.  I doubt we will ever see a bull run like this again for gpus.  But it's been a wild ride 

[mak013]

I hope I'm wrong but I believe if and when eth goes POS, gpu mining will stop being profitable for most people.  Right now most gpus are hashing eth and when that huge hash power is turned to other coins, their difficulty will shoot up and profitability will plummet.  I can't see any other alternative to this happening.  I doubt we will ever see a bull run like this again for gpus.  But it's been a wild ride 

Nope. Who will buy GPUs? Gamers will not but 10-100-1000 GPU per one man. It will be new coin, that will be mineable and gives more opportunities then ETH.

[Vann]

IMO, what has kept ETH mining profitable for so long is it's unique aspect of not just being a Cryptocurrency, but a development ecosystem which has evolved in to an entire market sector. I very much doubt we will see another POW coin that can support the amount of GPU's and replace ETH's profitability. But I also believe that the millions of GPU's that are currently mining ETH are not just going to sit idly without some project looking to tap in to that enormous computational resource. If ETH's transition to POS is successful, instead of GPU's doing meaningless POW computations to secure a network it may evolve in to a distributed, decentralized network of on-demand computing power such as with the Golem Project.

[batsonxl]

Eth mining is good because it has good fees which makes profit also attractive. Mostly all coins dont have this option like etc. It is always 3.2ETC reward per block.So whenever difficulty grows reward gets very low. I hope eth continues for long time. or it is better move to btc mining.

[adaseb]

I hope I'm wrong but I believe if and when eth goes POS, gpu mining will stop being profitable for most people.  Right now most gpus are hashing eth and when that huge hash power is turned to other coins, their difficulty will shoot up and profitability will plummet.  I can't see any other alternative to this happening.  I doubt we will ever see a bull run like this again for gpus.  But it's been a wild ride 

Nope. Who will buy GPUs? Gamers will not but 10-100-1000 GPU per one man. It will be new coin, that will be mineable and gives more opportunities then ETH.

As long as i've been mining there is always demand for GPUs. Whenever there is a crypto bear market and gamers think they can get "GPUs for almost free" it never happens. I've always was looking for opportunities to score great deals on GPUs during bear markets however it never happened.

Only good deals on GPUs were the ones with broken fans since most gamers don't want to deal with replacing fans. However there isn't going to be a time when you can buy a 1080Ti for like $20 because ETH all of a sudden went POS. There are lots of uses for GPUs rather than mining or gaming. They will always be a hot commodity.

[leonix007]

Wow.. its been a while since my last post in mining and still ETH hasn't implemented the POS..

I wonder whats really holding them back

Linked to hardware I guess

Mining Profitability turn into GPU sales

ASICs came in but still GPU's on demand

We always see this from history 

[poby]

The Eth POS will happen sooner or later.  It's been many years "pending" but one day it will happen.  And when it does, the shakeup wrt GPU mining will be huge.  Eth is the 2nd biggest crypto and the 3rd is a long way behind.  It's hard to imagine a scenario whereby all the hash power currently mining Eth turns to other much smaller cryptos, that doesn't result in a massive reduction in mining profits.

Crypto prices rise and fall, bull and bear markets come and go.  But the Eth POS will be an unprecedented event that will smash crypto mining profitability.  I just can't see any plausible alternative.  I would dearly love to be wrong and if anyone can logically and rationally detail a reasonable scenario whereby crypto mining continues to be at least half as profitable as it is now after the Eth POS, I would be very interested to read it.

[mak013]

I hope I'm wrong but I believe if and when eth goes POS, gpu mining will stop being profitable for most people.  Right now most gpus are hashing eth and when that huge hash power is turned to other coins, their difficulty will shoot up and profitability will plummet.  I can't see any other alternative to this happening.  I doubt we will ever see a bull run like this again for gpus.  But it's been a wild ride 

Nope. Who will buy GPUs? Gamers will not but 10-100-1000 GPU per one man. It will be new coin, that will be mineable and gives more opportunities then ETH.

As long as i've been mining there is always demand for GPUs. Whenever there is a crypto bear market and gamers think they can get "GPUs for almost free" it never happens. I've always was looking for opportunities to score great deals on GPUs during bear markets however it never happened.

Only good deals on GPUs were the ones with broken fans since most gamers don't want to deal with replacing fans. However there isn't going to be a time when you can buy a 1080Ti for like $20 because ETH all of a sudden went POS. There are lots of uses for GPUs rather than mining or gaming. They will always be a hot commodity.

Surely. I sold all my old GPUs between Jan2020-March2021. The lowest price was 1063 for $100. And the main part of GPUs were sold about the price, i bought it 2017 or higher. They worked for 4 years and eventually cost nothing to me.

[Stanlo]

Lucrative as how? Is ETH the only Proof of work algorithm coin in the whole planet? There are few things that will come to an end if ETH POW stops like

1. GPU manufacturers like Nvidia and AMD won't sell like before again, every gamers have one to two GPUs for gaming and a miner has dozens or more

2. ASIC miners of 2021 like E9 are just been released, killing ETH PoW algorithm will affects this new ASIC miners and I'm sure they have the confidence before building this new ASIC miners

[batsonxl]

I dont think amd and nvidia are stupid. They want earn money more more money. Both of this company did high market caps only in bullruns like 2013-2017-2021. in 2013 they taste 1st time cake and they liked it. The gaming is not profitable as mining, so you think they really care too much about gamers? If you are manufacturerer which you will choose?Of course most profitable. Nvidia playing gamers will get cards but main customer is miners in fact. Dont forget this 2 are very rich they also can pump and dump market if they wish.

[CSquared Collective]

ETH PoS seems to be arriving with a perpetual rolling 6months timeline... 

I'm looking forward to it though. So much money going to txn fees these days.

[mak013]

Lucrative as how? Is ETH the only Proof of work algorithm coin in the whole planet? There are few things that will come to an end if ETH POW stops like

1. GPU manufacturers like Nvidia and AMD won't sell like before again, every gamers have one to two GPUs for gaming and a miner has dozens or more

2. ASIC miners of 2021 like E9 are just been released, killing ETH PoW algorithm will affects this new ASIC miners and I'm sure they have the confidence before building this new ASIC miners

ETH is not the only PoW coin and Ethash is not only algo in the whole planet but the most GPUs mine ETH. If these GPU will come to ETC or RVN for example - they will destroy all the profit. Yet these coins are useless.
But i agree that mining will not stop. I think that it will be new coin with infrastructure.

[badbart]

Mining is like the markets very high highs and very low lows.   Make your buys tings are low and mining is "dead".  I bought half my gear in 2019-2020 75 5700s when they were making .70 a day.   

[FP91G]

nothing is lucrative on bear time, on bull time everything is lucrative even that crap 5 year old gpu you left for dead, 2 extremes.

5 year old crap - these are PX 470, PX 480, 1060 and 1070 - the best and most profitable video cards now.
Even 7 year old video cards are profitable today.

As long as mining is profitable, we will work.
When costs exceed profit, most miners will stop mining unless new Ethereum appears

I think that now many have felt a drop in profits. If this trend continues, you will have to suspend mining again.

It doesn't scare me. I mined cryptocurrency when the profit from a video card was less than 10 cents per day, and you are talking about a drop in profit.
Mining must live. Perhaps after Ethereum, the developer will come up with a new coin, which will have a low hash rate on old video cards. Then I’ll probably think about selling 4-5 year old video cards, and the new ones will mine something.