For ETH mining, is ETH price the only factor affecting performance with time??

[calu9988]

Hi, I am totally new to the Cryptocurrency world, I just bought some altcoins and trying to learn more about this. Recently some friends bought a 3080 card in order to mine ETH and the business is running pretty well for them.

Sadly they don't want to hear the details of this business, as I told them that as I know the mining incoming reduces with time... they just get angry with me... i hate people who don't want to learn every detail of what they are doing, but anyway; this is another issue.

Now I am also considering to mine with GPU, I understand the electricity cost is an issue and that mining incoming is reducing with time, but my question is: did the incoming reduce just because of the coin price reduction?? OR also each time is more difficult to mine because hashes are more and more scarce?

Edit: I ask for ETH, but I think the question and reply applied to any other coin.

[anu1908]

i won't say that profit will reduce with time. i'd rather say that mining profitability can change anytime. either become more profitable or less profitable. at least there are some factors:
1. the price of the coin you mine
2. the difficulty of the network
3. the cost of electricity
4. the maintenance cost of your rig

just imagine if electricity suddenly becomes free, profitability will increase, and vice versa. it can happens today, but then it will change one year later, and so on. there is no guarantee that mining will become less profitable with time, since those factors are not determined by time imo.

[philipma1957]

The most impossible question to answer.

I will try.

Maybe 🤔 is the short answer.


The long answer is think the tide  it flows in and out and in and out and in and out.

Mining profits do this they cycle.

The person above  gave a decent answer.

I will talk about the life cycle of the l3+ an asic miner.

They were dirt cheap summer of 2020 under 100 bucks for the miner and the psu.

Now the psu alone is 100 bucks and the miner is 1000.

I have 20 l3+ miners i whaled away with them.

why I purchased them  during down cycle of 2018 got them cheap..
I have cheap power so i mined them  non stop all of 2018 2019 2020 made very little and then in 2021 I made more. then the last three years.

so you have to respect cycles.

never buy when things are super over priced. wait for cycle to drop your price of gear.

and grab some at a good price.

also your power cost is absolutely important for when times get bad.

ie buying a few 3060 ti cards and using 300 watts is easy to just mine.

buying 33 3060ti cards and using 5kwatts an hour


  gets costly with 30 cent power.

it would be  720 hours a month x 5 = 3600 kwatts x 30 cents = 1080 usd a month for 33 cards

but around 100 a month for 3 cards.

so far mining eth has always had at least 1 good year out of 3.

so if you have 3 cards you should have enough money to pay 3 years of mining on the side and the rig.

and if you have 33 cards almost no one will have  a ton of money to burn.

so consider that power cost and let us know.

[adaseb]

mining income reducing with time is not true.

Your mining income can reduce, stay the same or increase.

Generally, historically the difficulty has been known to increase. Difficulty is basically what keeps the supply capped. So if on Monday there are 100 people mining a coin and the total reward is 100 coins, then each person gets 1 coin on Monday (assuming hashrate is the same for each person). Now if on Tuesday there are 200 people mining a coin, the reward is still capped, so each person would get 0.5 coin on Tuesday. With bitcoin and ethereum this is generally true. Many reason for this. One of them is more efficient hardware as technology improves.

So will you income go down? Well it might ONLY if ETH price stays the same. If the price goes up, you might make more. If it goes down, then its a double wammy and you lose even more income, sometimes exponentially.

[WanderingPhilospher]

My 2 cents, if everything stayed the same as it is now, network hash, difficulty, price of eth, then yes, overtime the income will reduce. The DAG will increase, taking up more ram, and I believe this causes GPUs hashrate to decrease. When I first got in the game a 1070 could do around 30-32 MH/s all day. Now, with same settings, I am lucky to get 26-28 MH/s.

But since there is no way to tell, and it's more than likely that network hash, difficulty, price, etc will change, then there is no way to really know if mining income will reduce.

Example:

Let's say 2 years from now a 1070 only gets 24 MH/s BUT eth price is $10k and the network hash and difficulty are relatively the same. That 1070 would make more money at a lower hashrate because the price of eth is $10k

Like most things, it can be a gamble, but some gambles pay off and some do not. Gamble within your means, educate yourself on algos and gpus, stay on top of crypto markets and news, and make a decision based on what you want to achieve.

Lastly, shooters shoot...

[swogerino]

It depends on many factors as explained above.I mine Ethereum and I am happy with it,when I started with the new rig in March 2021(285-300Mhsh) I could do almost 0.01 Ethereum at that time,now I can still do near it at 0.0085 Ethereum daily.It hasn't changed much meanwhile I have already made 0.85 Ethereum in total from this mining which I am keeping for the moment.If difficulty stays the same you can accumulate more and more Ethereum and if the Ethereum price hits 10.000 dollars you can be a happy person.This is what most of us is trying to do here with mining.As everything in life it can go well or it can end up badly,no risk no rewards as they say.

[batsonxl]

Very simple answer for your question : Enter market when is cheap, quit market when it is expensive. Right now it is my opinion: it is a bit expensive waiting july and august.

[calu9988]

My 2 cents, if everything stayed the same as it is now, network hash, difficulty, price of eth, then yes, overtime the income will reduce. The DAG will increase, taking up more ram, and I believe this causes GPUs hashrate to decrease. When I first got in the game a 1070 could do around 30-32 MH/s all day. Now, with same settings, I am lucky to get 26-28 MH/s.

But since there is no way to tell, and it's more than likely that network hash, difficulty, price, etc will change, then there is no way to really know if mining income will reduce.

Example:

Let's say 2 years from now a 1070 only gets 24 MH/s BUT eth price is $10k and the network hash and difficulty are relatively the same. That 1070 would make more money at a lower hashrate because the price of eth is $10k

Like most things, it can be a gamble, but some gambles pay off and some do not. Gamble within your means, educate yourself on algos and gpus, stay on top of crypto markets and news, and make a decision based on what you want to achieve.

Lastly, shooters shoot...

Sorry for being so newbie, but what DAG means??

[WanderingPhilospher]

My 2 cents, if everything stayed the same as it is now, network hash, difficulty, price of eth, then yes, overtime the income will reduce. The DAG will increase, taking up more ram, and I believe this causes GPUs hashrate to decrease. When I first got in the game a 1070 could do around 30-32 MH/s all day. Now, with same settings, I am lucky to get 26-28 MH/s.

But since there is no way to tell, and it's more than likely that network hash, difficulty, price, etc will change, then there is no way to really know if mining income will reduce.

Example:

Let's say 2 years from now a 1070 only gets 24 MH/s BUT eth price is $10k and the network hash and difficulty are relatively the same. That 1070 would make more money at a lower hashrate because the price of eth is $10k

Like most things, it can be a gamble, but some gambles pay off and some do not. Gamble within your means, educate yourself on algos and gpus, stay on top of crypto markets and news, and make a decision based on what you want to achieve.

Lastly, shooters shoot...

Sorry for being so newbie, but what DAG means??

https://www.computenorth.com/ethereum-dag-size-increase-to-make-4gb-gpus-obsolete/

[FP91G]

Hi, I am totally new to the Cryptocurrency world, I just bought some altcoins and trying to learn more about this. Recently some friends bought a 3080 card in order to mine ETH and the business is running pretty well for them.

Sadly they don't want to hear the details of this business, as I told them that as I know the mining incoming reduces with time... they just get angry with me... i hate people who don't want to learn every detail of what they are doing, but anyway; this is another issue.

Now I am also considering to mine with GPU, I understand the electricity cost is an issue and that mining incoming is reducing with time, but my question is: did the incoming reduce just because of the coin price reduction?? OR also each time is more difficult to mine because hashes are more and more scarce?

Edit: I ask for ETH, but I think the question and reply applied to any other coin.

When every housewife, student, worker starts thinking about mining farms, then it's time to escape from this market
Miners will remain in the market, but investing in this business is definitely wrong now if you do not have serious advantages in terms of electricity or a special price.

[Philipma1957cellphone]

The key is gear price. And power price.

I GET very good power rates.
I have excess power
I could 2x my gear but gear is costly now.

The only way for me to lose out is to buy 2x the gear I have and a big price crash happens.

So I add slowly  not quicky.

[adaseb]

Hi, I am totally new to the Cryptocurrency world, I just bought some altcoins and trying to learn more about this. Recently some friends bought a 3080 card in order to mine ETH and the business is running pretty well for them.

Sadly they don't want to hear the details of this business, as I told them that as I know the mining incoming reduces with time... they just get angry with me... i hate people who don't want to learn every detail of what they are doing, but anyway; this is another issue.

Now I am also considering to mine with GPU, I understand the electricity cost is an issue and that mining incoming is reducing with time, but my question is: did the incoming reduce just because of the coin price reduction?? OR also each time is more difficult to mine because hashes are more and more scarce?

Edit: I ask for ETH, but I think the question and reply applied to any other coin.

When every housewife, student, worker starts thinking about mining farms, then it's time to escape from this market
Miners will remain in the market, but investing in this business is definitely wrong now if you do not have serious advantages in terms of electricity or a special price.

Its like that in every market. Look at how many people are getting rich of the stock market. Look at how many kids bought stock options for Gamespot and AMC and made 6-7 figures easily. Same with the people who bought Dogecoin at like 5 cents and rode it all the way to $0.72 making crazy amounts of money.

Every market is like this and this is why I am getting cautious about the future. What is the last thing on peoples minds right now is another recession however the way things are going we might be in one in the next 6-12 months or so.

[swogerino]

Hi, I am totally new to the Cryptocurrency world, I just bought some altcoins and trying to learn more about this. Recently some friends bought a 3080 card in order to mine ETH and the business is running pretty well for them.

Sadly they don't want to hear the details of this business, as I told them that as I know the mining incoming reduces with time... they just get angry with me... i hate people who don't want to learn every detail of what they are doing, but anyway; this is another issue.

Now I am also considering to mine with GPU, I understand the electricity cost is an issue and that mining incoming is reducing with time, but my question is: did the incoming reduce just because of the coin price reduction?? OR also each time is more difficult to mine because hashes are more and more scarce?

Edit: I ask for ETH, but I think the question and reply applied to any other coin.

When every housewife, student, worker starts thinking about mining farms, then it's time to escape from this market
Miners will remain in the market, but investing in this business is definitely wrong now if you do not have serious advantages in terms of electricity or a special price.

Its like that in every market. Look at how many people are getting rich of the stock market. Look at how many kids bought stock options for Gamespot and AMC and made 6-7 figures easily. Same with the people who bought Dogecoin at like 5 cents and rode it all the way to $0.72 making crazy amounts of money.

Every market is like this and this is why I am getting cautious about the future. What is the last thing on peoples minds right now is another recession however the way things are going we might be in one in the next 6-12 months or so.

Ethereum price I hear everywhere I go here where I live that people are expecting a massive Ethereum increase in price because of the major upgrades that are planned for the Ethereum network.I am a bit skeptic about this but slowly my sub-conscience have started to believe it and I am collecting as much Ethereum as I can.I did not have much Doges,only one wallet from 2017 that had some 3000 Doges which I imported the private key from my old wallet to the web one and sold for 0.6 a Doge making some 1800 USD out of nowhere but with Ethereum I think I am planning to reach this stage,to make a decent amount of money if the price skyrockets.

[FP91G]

Hi, I am totally new to the Cryptocurrency world, I just bought some altcoins and trying to learn more about this. Recently some friends bought a 3080 card in order to mine ETH and the business is running pretty well for them.

Sadly they don't want to hear the details of this business, as I told them that as I know the mining incoming reduces with time... they just get angry with me... i hate people who don't want to learn every detail of what they are doing, but anyway; this is another issue.

Now I am also considering to mine with GPU, I understand the electricity cost is an issue and that mining incoming is reducing with time, but my question is: did the incoming reduce just because of the coin price reduction?? OR also each time is more difficult to mine because hashes are more and more scarce?

Edit: I ask for ETH, but I think the question and reply applied to any other coin.

When every housewife, student, worker starts thinking about mining farms, then it's time to escape from this market
Miners will remain in the market, but investing in this business is definitely wrong now if you do not have serious advantages in terms of electricity or a special price.

Its like that in every market. Look at how many people are getting rich of the stock market. Look at how many kids bought stock options for Gamespot and AMC and made 6-7 figures easily. Same with the people who bought Dogecoin at like 5 cents and rode it all the way to $0.72 making crazy amounts of money.

Every market is like this and this is why I am getting cautious about the future. What is the last thing on peoples minds right now is another recession however the way things are going we might be in one in the next 6-12 months or so.

I do not know what the market will be, so I sold half of the coins and I will keep the half.
Ethereum is a top asset, so it will always be in demand in the market.
I think that after the end of mining, its price will rise.
And in the future, the price of the coin may rise to $ 10,000.