I quit alt mining

[safar1980]

ETC seems like a dead project, where nothing works except mining. Kaspa, ETC, and Monero are projects for ASIC mining and are unprofitable for home miners. Kaspa made a lot of noise, but their ASIC hashrate increased very quickly, and ultimately, miners couldn't recoup their equipment costs. Only Monero is a good coin.

[Abiky]

ETC seems like a dead project, where nothing works except mining. Kaspa, ETC, and Monero are projects for ASIC mining and are unprofitable for home miners. Kaspa made a lot of noise, but their ASIC hashrate increased very quickly, and ultimately, miners couldn't recoup their equipment costs. Only Monero is a good coin.

They're unprofitable because of the market price. Investors aren't interested in buying these coins as they're focused on fresh, new players. With low market prices for PoW altcoins, why would miners continue to support them? After all, most of them are in the game because of the profits. Not because they want to support the network itself. Perhaps, that's the reason why PoS "shitcoins" have taken over the market.

One thing for sure is that GPU costs went sky-high because of the AI craze. Another reason why altcoin mining isn't worth it. Shall we try CPU mining, instead? Or what about PoC (Proof of Capacity) mining with our hard drives? If coins with such mechanisms take off, it would be worth the shot. I would stay with Bitcoin mining, for now. Only if I can afford energy costs, ofc.

[FP91G]

One thing for sure is that GPU costs went sky-high because of the AI craze. Another reason why altcoin mining isn't worth it. Shall we try CPU mining, instead? Or what about PoC (Proof of Capacity) mining with our hard drives? If coins with such mechanisms take off, it would be worth the shot. I would stay with Bitcoin mining, for now. Only if I can afford energy costs, ofc.

We discussed this on the local forum. I'm not sure about all countries, but 5090 graphics cards are currently selling for almost twice the recommended price. And 4060 and 8GB 5060 graphics cards aren't particularly popular, but they're suitable for many games.
In mining, all new graphics cards currently have questionable profitability prospects.

[JeromeTash]

One thing for sure is that GPU costs went sky-high because of the AI craze. Another reason why altcoin mining isn't worth it. Shall we try CPU mining, instead?

The are a few coins that can be mined using CPU but still don't have any hype and the profitability is not attractive as well.

Or what about PoC (Proof of Capacity) mining with our hard drives?

I remember a certain coin that was based on this. It was a complete fail 
Today, no one even talks about it. That just shows you how unpopular this option is.

[FP91G]

Or what about PoC (Proof of Capacity) mining with our hard drives?

I remember a certain coin that was based on this. It was a complete fail 
Today, no one even talks about it. That just shows you how unpopular this option is.

Do you remember this shit?
https://www.coingecko.com/en/coins/chia
There was a time when a Moeta cost $1,500, and many miners bought hard drives. Now the price is below $3.
This is not the worst case scenario among altcoins, and any project can become useless.  It's a good thing I didn't mine this.

[JeromeTash]

Do you remember this shit?
https://www.coingecko.com/en/coins/chia
There was a time when a Moeta cost $1,500, and many miners bought hard drives. Now the price is below $3.
This is not the worst case scenario among altcoins, and any project can become useless.  It's a good thing I didn't mine this.

You are absolutely right, that's the coin I meant 
We had some people rush to buy loads and loads of hard drives, thinking the price was going to stay up and mining it would be lucrative. Most of them didn't think about pump-and-dump schemes.

I am also glad I never wasted any resources and time on it. What annoyed me is how they kept bashing Bitcoin's proof of work, claiming it's one of the reasons there is climate change in a bid to push their proof of space and time agenda.

[safar1980]

There was a miner who would invest several hundred thousand dollars into mining this coin.
Link in Russian
https://bitcointalk.org/index.php?topic=5572390.msg66330442#msg66330442

Link to English, even if it's a video
https://bitcointalk.org/index.php?topic=5313966.msg60597902#msg60597902

This miner no longer appears on the forum, otherwise I would have several questions for him.

[FP91G]

Do you remember this shit?
https://www.coingecko.com/en/coins/chia
There was a time when a Moeta cost $1,500, and many miners bought hard drives. Now the price is below $3.
This is not the worst case scenario among altcoins, and any project can become useless.  It's a good thing I didn't mine this.

You are absolutely right, that's the coin I meant  
We had some people rush to buy loads and loads of hard drives, thinking the price was going to stay up and mining it would be lucrative. Most of them didn't think about pump-and-dump schemes.

I am also glad I never wasted any resources and time on it. What annoyed me is how they kept bashing Bitcoin's proof of work, claiming it's one of the reasons there is climate change in a bid to push their proof of space and time agenda.

This coin is unlike any other, given the information available online about its founder:
"Bram Cohen, a renowned American programmer and creator of the BitTorrent protocol, is the founder of the Chia Network cryptocurrency, launched in 2017. Chia is positioned as an environmentally friendly alternative to Bitcoin, using the Proof of Space and Time consensus algorithm rather than the energy-intensive Proof of Work."
There's been a lot of discussion about this coin on the Russian board, but the founder doesn't seem like the type of developer who does pump-and-dump stuff.

[Abiky]

We discussed this on the local forum. I'm not sure about all countries, but 5090 graphics cards are currently selling for almost twice the recommended price. And 4060 and 8GB 5060 graphics cards aren't particularly popular, but they're suitable for many games.
In mining, all new graphics cards currently have questionable profitability prospects.

All because of the AI boom. GPUs won't decline in price for a long time. Perhaps, FPGA mining is an option? I mean, in terms of profitability? I doubt AI will make use of FPGAs. But if they do, we're doomed. I guess that's why there are so many PoS "shitcoins" on the market now. At least, mining alts was fun while it lasted.

I remember a certain coin that was based on this. It was a complete fail 
Today, no one even talks about it. That just shows you how unpopular this option is.

I think you mean Chia? There was a coin back then named BURST, which rebranded to Signa recently. But it also became a failure due to loss of interest among traders and investors alike. That's the thing with altcoins. You can end up holding the bag if they're suddenly abandoned by devs and investors. If you're lucky mining for profit, I'd advise you to sell for BTC and forget about the rest. It's the only way to prevent yourself from losing it all in an instant.

[GhostRider25]

MMX network is another coin i believe that is based on proof of drive space.   it seems to be doing fairly well recently, it's rallying now sort of.

Aaron

edit-let me put network in here to point to the right coin.

[FP91G]

We discussed this on the local forum. I'm not sure about all countries, but 5090 graphics cards are currently selling for almost twice the recommended price. And 4060 and 8GB 5060 graphics cards aren't particularly popular, but they're suitable for many games.
In mining, all new graphics cards currently have questionable profitability prospects.

All because of the AI boom. GPUs won't decline in price for a long time. Perhaps, FPGA mining is an option? I mean, in terms of profitability? I doubt AI will make use of FPGAs. But if they do, we're doomed. I guess that's why there are so many PoS "shitcoins" on the market now. At least, mining alts was fun while it lasted.

FPGAs also use memory, so the rise in IP memory prices will impact all mining hardware. Currently, there are very few coins that don't require ASICs for mining. I don't think FPGAs will be in high demand.

The market is currently full of pump and dump tokens and they are popular

[OgNasty]

As the weather begins to heat up out here in the desert it is starting to feel like my GPUs will be getting a rest until winter. Their annual heating responsibilities are almost over for the season. Sad times as I always love being the guy to solve a block and that was my memecoin speculating money.