The fate of crypto mining

[Crypt0Gore]

The future fate of crypto mining is worrisome, did I start this journey too late? After few years of trying to get some money and be a rig owner atleast have been fulfilled at last but now ETH PoW won't be no more, it's worrisome.

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[swogerino]

The future fate of crypto mining is worrisome, did I start this journey too late? After few years of trying to get some money and be a rig owner atleast have been fulfilled at last but now ETH PoW won't be no more, it's worrisome.

As worrisome as it may sound do not worry that much.First it is very important for you that now you are a rig owner and are generating income in Ethereum daily like most of us is doing.I don't think Eth will move to PoS any time soon in 2022 for many reasons but in the even that they do,there is still ETC-Ethereum Classic which today got a huge increase in price and the same hash rate of a rig now produces near the same daily profit in ETC also,just 1-2 dollars less for a 300 MHSH rig.The good thing is that ETC developers promised this coin will never go PoS and it will always be a coin that can be mined with GPU-s.

In the end it all depends on how we look at mining,the most important thing is to never give up and continue mining even in very difficult situations,that's the key to success.

[Coinfarm ventures]

In the end it all depends on how we look at mining,the most important thing is to never give up and continue mining even in very difficult situations,that's the key to success.

As an experienced miner who has been in this game since 2013, the key to success is not buying equipment for bloated prices, especially when we know a crash could happen in 4 months. I'm going to sell all 3 of my rigs in May/June, then buy them back at a fraction of the price around August. We can't expect another PoS delay as of now.

The miners who will win are those that build rigs when the market is in a panic. Those who scooped up RX 570's for $90 each in late 2018 and are selling them now made a killing. If the video cards are cheap, the lower profit doesn't matter.

Over the past 8 years, the payback period on a video card has almost always stayed in the 300 - 800 day range. This is good enough for me, especially since I'll be getting cheap power soon and I can lower my taxes by building these rigs.

[Bitcoin_Arena]

The future fate of crypto mining is worrisome, did I start this journey too late?

Someone one, somewhere in 2017 was saying the same about mining Bitcoin 
The ASICs seemed too expensive, and they were not sure if they could make profit in mining after 2017 and here we are in 2022, with some folks making huge in 2021 both in ETH and Bitcoin.

Morale; Never give up, Keep investing in mining coins you think have future potential, "Fortune favors the bold"

[Salamande]

In the end it all depends on how we look at mining,the most important thing is to never give up and continue mining even in very difficult situations,that's the key to success.

As an experienced miner who has been in this game since 2013, the key to success is not buying equipment for bloated prices, especially when we know a crash could happen in 4 months. I'm going to sell all 3 of my rigs in May/June, then buy them back at a fraction of the price around August. We can't expect another PoS delay as of now.

The miners who will win are those that build rigs when the market is in a panic. Those who scooped up RX 570's for $90 each in late 2018 and are selling them now made a killing. If the video cards are cheap, the lower profit doesn't matter.

Over the past 8 years, the payback period on a video card has almost always stayed in the 300 - 800 day range. This is good enough for me, especially since I'll be getting cheap power soon and I can lower my taxes by building these rigs.

In the end of 2013, the ROI of a GPU was 30-40 days... OMG I miss these days...

[Bitcoin_Arena]

In the end of 2013, the ROI of a GPU was 30-40 days... OMG I miss these days...

In the end of 2013, the Bitcoin price was less than $1000 sometimes even just $15... OMG, how I miss those days...  

Well, if we miss those days, we should just create a time machine and go back in time, shouldn't we?

[Coinfarm ventures]

In the end of 2013, the ROI of a GPU was 30-40 days... OMG I miss these days...

I remember that my Radeon HD 7850 1GB was making $8/day on Dogecoin while it only cost $200. I really miss those days. Back in the day, you could also mine Ethereum on 2GB video cards. I also remember when I mined BTC in early 2013, but revenue was slashed by half in just one week. The 1st gen ASICs were being released.

At least the upside is that the industry is more mature, so there's less risk, but less risk means less reward.

[adaseb]

In the end of 2013, the ROI of a GPU was 30-40 days... OMG I miss these days...

I remember that my Radeon HD 7850 1GB was making $8/day on Dogecoin while it only cost $200. I really miss those days. Back in the day, you could also mine Ethereum on 2GB video cards. I also remember when I mined BTC in early 2013, but revenue was slashed by half in just one week. The 1st gen ASICs were being released.

At least the upside is that the industry is more mature, so there's less risk, but less risk means less reward.

Yeah I had that GPU. It was slow but you can get it for almost nothing if you monitored the Craigslist listings all day. I think I bought one for like $50.

It was basically a low clock rate Radeon 270x pretty much. I think the regular 270x hashed at 450kh/s while the 7850 hashed at 375-400hs. However you can score them second hand for like $50 compared to paying $150-175 for a new r9 270x.

The king mining GPU back then was the r9 280x (290 was just released and not popular) and those suckers put out something like 700kh/s and burned 350 watts EACH.

I remember having 2 GPUs per PSU and each PSU was using 700watts. Crazy times. Even with all that power consumption they never really ran hot actually.

[Wolf9466]

In the end of 2013, the ROI of a GPU was 30-40 days... OMG I miss these days...

I remember that my Radeon HD 7850 1GB was making $8/day on Dogecoin while it only cost $200. I really miss those days. Back in the day, you could also mine Ethereum on 2GB video cards. I also remember when I mined BTC in early 2013, but revenue was slashed by half in just one week. The 1st gen ASICs were being released.

At least the upside is that the industry is more mature, so there's less risk, but less risk means less reward.

Yeah I had that GPU. It was slow but you can get it for almost nothing if you monitored the Craigslist listings all day. I think I bought one for like $50.

It was basically a low clock rate Radeon 270x pretty much. I think the regular 270x hashed at 450kh/s while the 7850 hashed at 375-400hs. However you can score them second hand for like $50 compared to paying $150-175 for a new r9 270x.

The king mining GPU back then was the r9 280x (290 was just released and not popular) and those suckers put out something like 700kh/s and burned 350 watts EACH.

I remember having 2 GPUs per PSU and each PSU was using 700watts. Crazy times. Even with all that power consumption they never really ran hot actually.

Hah, I remember this too, but my 270X was 2GB. 270X was actually (mostly) a rebrand of 7870, and the 270 was a rebrand of 7850.

Power usage back then was high as fuck, too - I remember having a 7950 and 2x280X on a 750W PSU and it was literally pulling like 775W+ from the wall, if I remember right.

[JangoUnchained]

You getting worry about something that may never happen, even ETH CEO is in worry right now the news is all over the internet, buy GPU and continue mining also ETH isn't the only proof of work algorithm coin available.

[YellowSwap]

You can mine ETC, FLUX, Alephium, Bitcoin Gold and more, it's possible that these coins will be less profitable due to higher difficulty from miners switching from ETH but a successful miner gathers is assets when things aren't looking good.

[sp_]

If Ethereum goes POS it is expected that ETC will rise in price because of added support by miners.

[S3300]

If Ethereum goes POS it is expected that ETC will rise in price because of added support by miners.

It doesn't look like it but I do hope so because the value of Ethereum Classic needs to rise for it to be profitable for miners and there must be new ETC holders as well with less sellers.

[sp_]

https://coinmarketcap.com/



ETC could easily go 10x the money with the support of miners.

Up to $390

Every time a POW coin goes POS, I move my money out of it.

The ethereum KILN fork is being tested (final fork before the move to POS). The estimated date for the move to POS is end of June.

[VRExpress]

There will always be a way, not all mineable coins will lose value because of high difficulty few will surely add more value, let's wait until June ending and see how things goes but I still believe that ETH 2.0 will be on halt.

[swogerino]

https://coinmarketcap.com/



ETC could easily go 10x the money with the support of miners.

Up to $390

Every time a POW coin goes POS, I move my money out of it.

The ethereum KILN fork is being tested (final fork before the move to POS). The estimated date for the move to POS is end of June.

I have some of them,ETC but I sold many of them yesterday making some good profit.I think that ETC is the next best thing to mining if ETH really moves to PoS.The only problem I see is that one time it was hacked,was something related to DAO I don't know for sure and that is why the original devs stayed with ETC and the others moved to a more secure coin which we know as ETH today,in a gross context I think this was the story.We risk another hack if the devs do not secure their network or I am being way to much paranoid here?

[Coinfarm ventures]

There will always be a way, not all mineable coins will lose value because of high difficulty few will surely add more value, let's wait until June ending and see how things goes but I still believe that ETH 2.0 will be on halt.

I don't disagree with you. Of course there will always be a way to make profit with GPU mining. But only if you buy the GPUs for a reasonable price compared to the profit per card.

[Outhue]

https://coinmarketcap.com/



ETC could easily go 10x the money with the support of miners.

Up to $390

Every time a POW coin goes POS, I move my money out of it.

The ethereum KILN fork is being tested (final fork before the move to POS). The estimated date for the move to POS is end of June.

I have some of them,ETC but I sold many of them yesterday making some good profit.I think that ETC is the next best thing to mining if ETH really moves to PoS.The only problem I see is that one time it was hacked,was something related to DAO I don't know for sure and that is why the original devs stayed with ETC and the others moved to a more secure coin which we know as ETH today,in a gross context I think this was the story.We risk another hack if the devs do not secure their network or I am being way to much paranoid here?

You make this sound as if ETC is the first of its kind while ETH came out of ETC I'm hoping this isn't what you are saying also I see more hopes in FLUX than ETC it's more secured that's why I said this.

[swogerino]

https://coinmarketcap.com/



ETC could easily go 10x the money with the support of miners.

Up to $390

Every time a POW coin goes POS, I move my money out of it.

The ethereum KILN fork is being tested (final fork before the move to POS). The estimated date for the move to POS is end of June.

I have some of them,ETC but I sold many of them yesterday making some good profit.I think that ETC is the next best thing to mining if ETH really moves to PoS.The only problem I see is that one time it was hacked,was something related to DAO I don't know for sure and that is why the original devs stayed with ETC and the others moved to a more secure coin which we know as ETH today,in a gross context I think this was the story.We risk another hack if the devs do not secure their network or I am being way to much paranoid here?

You make this sound as if ETC is the first of its kind while ETH came out of ETC I'm hoping this isn't what you are saying also I see more hopes in FLUX than ETC it's more secured that's why I said this.

I mean ETC is the original ETH we knew before even having ETC,which became ETC after the hack and then we moved to a new coin ETH version 2 at that time which we know now as simply ETH,that's what I wanted to state.

[Tmdz]

Etc isn't going to be your savior lol, its a shitcoin and always will be a shitcoin.  I say this as someone who mines it with some old gpu's but the chain has virtually no purpose or prospects for doing anything meaningful.

Eth flipping the pow switch to "off" will be amazing for the gpu market, me thinks it will be crazier than any gpu crash of the past.  I really really hope rtx 3080s get super cheap as millions of them are sold off to the resale market.  How wonderful would it be in the chaos to grab a few of these high end gpus on the cheap and start prepping for the next bullrun and rise of a high tps pow blockchain.  Mining profits will be crap for a good while but the market will balance out after awhile