ETHmining with GPU's any future?


#1

What can we expect in the future for GPU mining ? Is there any future for GPU mining ETH ?
At the present time, right here and now, we are mining more or less just for the fun of it
unless you are getting power free, most of us are mining at an loss.

This Asic Innosilicon A10 EthMaster SPEED: 485 Mh/s WATTS: 850 will earn around $5.00 a day right here and now, without costs, IE; pool fees power ect, and they will/are selling even tho unlikely to ever ROI.

To produce 485Mh/s @ 850 to 900w with Gpu’s is a very tall order, probaby not possible.

Opinions welcome


#2

we don’t mine at loss until we sell what we mined at loss.

If you want to avoid loses, you can mine and sell your mined coins at exchange by setting the price with profit added or break-even price. Why would you want to sell them at loss, because you want to make quick fiat money?

Miners who are willing to sell the coins right away even if it’s at loss, might be one of the reasons why the prices are going down? If all miners are not panicking and sell something scarce at the right price, the price wouldn’t be this ridiculously cheap…


#3

Well you could buy more with the money you would spend on electricity.


#4

Somewhat off topic, (any future for GPU mining ETH ?)
You can’t avoid losses, if as the marjority of us do, buy the equipment, to build mining rig and start mining, you still have ongoing costs, mainly power, but also other fee’s
So unless you are given an mining rig and have access to free electricity you will be mining at an loss.

Buying and selling is a matter of choice to each individual, freedom of choice as it should be.
Why do the marjority of people start mining ? To try and make money.
I personally have not sold off any coin.
Bitcoin seems to be the measure of value used, many Alt coins were said to be next to worhless or worthless
before this crash, Those that were worth something have also dropped in value, so untill such a time as the value of bitcoin goes back up, if indeed it does, and makes all the other coins worth something, crypto mining is not really worthwhile at this point in time, Hence my Question, any future for GPU mining ETH ?


#5

Could buy more what exactly ?


#6

Buy more ETH or whatever coin being mined using the equivalent cost to mine. So let’s say you can mine 1 coin and it costs $300 in just electricity. You could have bought more than 3 coins for that amount of money. So that’s means you’d be better off shutting down mining and just buy the coin. Don’t forget to factor in purchase fees. You would probably want to buy at the some frequency roughly on pace with your mining. Once the price returns to mining profitability then stop buying and restart mining.


#7

Reasonable sound advice, Not the same satisfaction but still involved, I’ll check it out.
I already shut down my eth mining untill such a time as it picks up again, hopefully.


#8

Continuing the discussion from ETHmining with GPU's any future?:

I am a computer tech I made two rigs (62 HR 4 GPUs and 174 HR 6 GPUs) and I didn’t know anything about the Crypto Market right after I finished my rigs (which cost me $4500) with the expensive GPUs, BTC and GPU price went down .
I calculated my electric cost is about $270 to $350 for 1 ETH right now ETH is $130 but if you look at pools the Pro Miners are still working. They are many Crypto exchange on Internet and the new exchange keep coming, so I was wondering what is going on? How this people making money?
I got involved in crypto exchange some Coins price fluctuation is % 100 in a month, means you can double your coins in a month there is no loos unless someone hack your account and steal your coins. You got to educate yourself about the trading patterns and Trends and analyses the market
I have seen these new Miners on internet I don’t know how they work do they need a computer running always to control them? Are they repairable? What is the cost of their parts? I saw one which the price was $5500 and not available. If now someone wants to do pro Mining absolutely won’t go with GPU but my opinions are:
1-If you can sell your rigs or its GPUs at the reasonable price (no lost) sell them and invest the money in trading
2- DO NOT Turn off your rigs if you can handle the electricity and generated heat, keep your Coins or Trade them. BTC price will go up again it might go down to $ 2800 in a weak after that will see a Bullish market stronger than before the only way that BTC dies if someone can make it totally illegal and shut it down


#9

Many miners seem to be in denial, As I pointed out before, unless you have access to free power
or very cheap power, GPU mining is NOT an viable option at this time, We all hope this will change
time will tell.

Trading is another subject, you do not have to mine to trade.
Best option seems to be stop mining, and if you are willing to gamble buy coins, use the money you would have spent on power running costs ect.
Selling off mining equipment at this time is not a good option, as used secondhand they hold very little value.
Better to hold on to your miner/s untill such a time as it picks up again, if indeed it ever does.
Longterm, GPU mining does not look good.