Offical end of ETH mining forever thread...

[Coin_trader]

The total ETC hashrate seem to settle around 300THASH. around 30% of the ethereum network.

1/3 the total hashrate,  1/37.5 the price

Not profitable, but the price will rise.

We all know that this kind of move by the miners is just a protest against Ethereum decision on transitioning to PoS. ETC is not the same as Ethereum and there community will still the same except for the miners leaving them but still the largest part of the community which is the investors will surely stay on Ethereum over ETC and they are the one who pumps the price and not the miners.

Raven is the other PoW coin that benefits on this miners move but the main question is how long they can do this to sustain the price pump. It will surely collapse once the price go sideways especially when Ethereum PoS shows an impressive result to overall stability of the blockchain.


Answering the main purpose of this thread. I start Ethereum mining using my computer in my company office which until I didn’t claim my rewards because I forgot to get my keys out of my computer before I leave on the company last 2017. 

[batsonxl]

The total ETC hashrate seem to settle around 300THASH. around 30% of the ethereum network.

1/3 the total hashrate,  1/37.5 the price

Not profitable, but the price will rise.

We all know that this kind of move by the miners is just a protest against Ethereum decision on transitioning to PoS. ETC is not the same as Ethereum and there community will still the same except for the miners leaving them but still the largest part of the community which is the investors will surely stay on Ethereum over ETC and they are the one who pumps the price and not the miners.

Raven is the other PoW coin that benefits on this miners move but the main question is how long they can do this to sustain the price pump. It will surely collapse once the price go sideways especially when Ethereum PoS shows an impressive result to overall stability of the blockchain.


Answering the main purpose of this thread. I start Ethereum mining using my computer in my company office which until I didn’t claim my rewards because I forgot to get my keys out of my computer before I leave on the company last 2017. 

Each investor has some amount of money and pushing heavy train like eth might be difficult task.so something must happen and caputulation is always necessary.

[adaseb]

Hashrate still growing on ETC

https://2miners.com/etc-network-hashrate

I think it will go up for the next 48 hours and then most likely it'll back down when people finally give up mining due to the low profitability.

ETC hashrate was 70Th/s and now its over 300Th/s so 230Th/s out of the 900TH/s has moved from ETH. Question is where will the rest of the 670Th/s go?

[crsminer]

Hashrate still growing on ETC

https://2miners.com/etc-network-hashrate

I think it will go up for the next 48 hours and then most likely it'll back down when people finally give up mining due to the low profitability.

ETC hashrate was 70Th/s and now its over 300Th/s so 230Th/s out of the 900TH/s has moved from ETH. Question is where will the rest of the 670Th/s go?

62TH and rising is on ETHW.

[adaseb]

Very difficult to put a price on ETHW. The futures market is so illiquid.

https://www.bitmex.com/app/trade/ETHPOWZ22

Barely any trades. Looking at the time and sales it bounces around from $15 to $21 with a small order.

I think the telling will be if a large exchange such as Coinbase, Binance, FTX actually lists it. Currently it doesn't look too well.

[Metroid]

The hashrate is not settled yet but lets see how it is at the moment with before and after the merge

Ergo before 10 terahash, after 150 terahash, that is 15 times more.

Ravencoin before 2.5 terahash, after 18 terahash, that is 8 times more.

ETC before 20 terahash, after 310 terahash, that is 15 times more.

The details and hashrate history you can check it right here

https://minerstat.com/coin/ERG/network-hashrate
https://minerstat.com/coin/RVN/network-hashrate
https://minerstat.com/coin/ETC/network-hashrate

These are just the top 3 coins in hashrate, many other coins had an immense difficulty spike. Every gpu coin is negative profit to mine, price is not settled yet, it will take few days but with the bear market coming in Q1 2023 this will get worse.

[sp_]

Every gpu coin is negative profit to mine

This is not true

Vertcoin

https://minerstat.com/coin/VTC/network-hashrate

1.5 times the hastrate and still profitable with the Team Black Miner. Listed on bittrex

[Metroid]

Vertcoin

https://minerstat.com/coin/VTC/network-hashrate

1.5 times the hastrate and still profitable with the Team Black Miner

Price is not settled yet and websites that show any profitable gpu coin are wrong, need few days to see if any is profitable. For example, they show that ergo is $0.01 net and that is a lie, everything is negative and ergo is at the top at moment, must be because ergo difficulty will be adjusted soon then you will see ergo at the bottom, 15 times the hashrate is a lot, ergo price only increased 1.5 times from 2 to 5 usd.

[countryfree]

Good topic. I'm tired of seeing articles telling that the merge was complete and successful.
Question is how many ETH miners will there be in a month. And 6 months from now.

[Metroid]

It seems there is still 500 terahash to go to somewhere, probably they were asics and they cant go to etc yet but they can still go to etc with a firmware or DY coding, remember when I said that at least 50% were asics in the eth network, it seems I was right again.

[sp_]

It seems there is still 500 terahash to go to somewhere

https://www.ethwmine.com/

40 thash

[adaseb]

This is more or less similar to how it was in 2015 or so.

There would be a coin like Vertcoin which seems the most profitable. However after a few days, the profitability would be pretty much equal to everything else out there in terms of GPU efficiency and performance.

If you got free power then there is stuff you can mine but when you factor in the electrical cost, you might as well just sell the GPUs.

Who knows, maybe it will change in a week or two when those with $0.10> call it quits because they see their power bill and profits and decide they are better off just retiring. Then with the falling difficulty might be worth it. But right now there are just too many GPUs out there.

[rdluffy]

It seems there is still 500 terahash to go to somewhere, probably they were asics and they cant go to etc yet but they can still go to etc with a firmware or DY coding, remember when I said that at least 50% were asics in the eth network, it seems I was right again.

Wow, 50% would be huge
I tried to find a way to guess how many asics are out there, but I could't.
Maybe in a week or so we can conclude that the offline hashrate is almost all asics?

[sp_]

There would be a coin like Vertcoin which seems the most profitable. However after a few days, the profitability would be pretty much equal to everything else out there in terms of GPU efficiency and performance.

Vertcoin is not supported by T-rex, and the setup in hiveos is not easy as with ergo, ravencoin and etc.

Still $1 a day for each 3060ti with the Team Black Miner @ 1.5MHASH, $0.33 on the rx 580 @ 0.5MHASH

[Doucesti]

It has been an honor serving this network with you, guys.
I did not achieve my objective of ethereum tho. 

[Metroid]

There would be a coin like Vertcoin which seems the most profitable. However after a few days, the profitability would be pretty much equal to everything else out there in terms of GPU efficiency and performance.

Vertcoin is not supported by T-rex, and the setup in hiveos is not easy as with ergo, ravencoin and etc.

Still $1 a day for each 3060ti with the Team Black Miner @ 1.5MHASH, $0.33 on the rx 580 @ 0.5MHASH

Right now your vertcoin is at the top, ergo has been insane, right now at 450 terahash, 2 weeks ago it was 10 terahash, this is 45x. A 3080 220mhs it shows doing 12 cents on ergo, it is a lot less than that, even a 3080 is negative profit, in few years trolls will battle against history and say nothing was ever negative on the eth merge, in 2019 it was all negative too, trolls are delusional. Anyway, need few days more to see where this thing will be going.

Wow, 50% would be huge
I tried to find a way to guess how many asics are out there, but I could't.
Maybe in a week or so we can conclude that the offline hashrate is almost all asics?

ETC is doomed forever with asics, ergo on the other hand is more deflationary than any other coin even eth, if price will catch up, that remains to be seen. ERGO supply will be reduced 3 coins every 4 months I think, few months ago block reward was 66, now is at 48 ergo. The good thing about now or even ergo is that no company will create asic for it, asics are done for the time being, no profit, no incentive to make asics. Last I heard from a top asic producer is that there will be a cooldown in making asics and will last few years for gpu mining coins, for bitcoin and ltc is business as usual.

[FP91G]

Why argue about profits now when the coin hashrate is growing so much? 10 or 15 cents profit doesn't matter much if the video card costs 400-500 dollars. Even if the profit is 30 cents, then 400 / 0.3 gives us more than 3 and a half years of payback. You need to wait a month or two when miners with expensive electricity stop mining coins.

[Metroid]

Things are clearing up and as I foretold months ago and I quote myself "even an RTX 3080 will be at negative profit once eth goes to POS", this day finally came, second day after eth went POS and by the way I dont feel sorry for whoever bought gpu's higher than msrp. If you did your homework and only paid msrp or lower for gpus then you have nothing to worry, you can still sell and get your money back no problem. Nvidia 4xxx series are coming, so better to sell as fast as possible.

[swogerino]

Things are clearing up and as I foretold months ago and I quote myself "even an RTX 3080 will be at negative profit once eth goes to POS", this day finally came, second day after eth went POS and by the way I dont feel sorry for whoever bought gpu's higher than msrp. If you did your homework and only paid msrp or lower for gpus then you have nothing to worry, you can still sell and get your money back no problem. Nvidia 4xxx series are coming, so better to sell as fast as possible.

I bought higher than MSRP but also I managed to get all my money back from mining and even profit above that at the best period or the year 2021 as we all know about it until late October and then things started to change fast for the worst with the coming of January 2022.I am still not selling them because I am in profit and I will keep the devices and see how things unfold,I am sure a new PoW coin will come to take the lead,it just takes some time because the networks are a real mess right now,ETC and ERG gotten almost all ETH hash rate so they are mostly unprofitable right now,the ones who can still break even is RVN but I don't know for how long and that has an added cost on the cards because it heats them much more than Ethash algorithm did.I have shut down my mining rigs and I am in wait and see mode.

[sp_]

I am sure a new PoW coin will come to take the lead,it just takes some time because the networks are a real mess right now

The ethereum stratum servers haven't switched off yet, and the hashes from the zombie workers are directed to Ethereum POW and ETC.
This is killing the profit for everybody. 227 THASH on ETC today, down from 300 yesterday.

Nanopool is forwarding all ethereum mining on the old stratum ports to ethereum POW, ethermine to Ethereum classic.

https://twitter.com/nanopool_org/status/1570424640341688320