Mining in January 2019


#1

we are in January 2019 and I’m just wondering:

  1. are you mining?
  2. is it profitable?
  3. why are you mining?

do you see any future in mining?
thanks for sharing


#2
  1. yes
  2. yes
  3. couse of number 2.

#3
  1. Yes
  2. Only if I sell, which I’m not doing because of the current low price
  3. Faith in the future of ETH

Obviously with steps to move to POS mining ETH won’t have a future, but for now I’m trying to do as much as I can before the ice age comes.


#4
  1. Yes
  2. No - Been mining over a month without any payout :frowning:
  3. Hoping that it will pick back up.
  4. An additional question - Which pool are you mining on ? Anoraktech eth pool is down to 9 miners!!

#5

Only fait on ethereum, or you mine other stuff?


#6

I posted asking the same question, If or when they implement ProgPow and make it Asic resistant
because they can’t decide, some want it Asic friendly, If they don’t GPU mining for ethereum is finished.

I remember all the chat, hype ect about how Asic and Fpga would never be able to mine eth
because it’s memory intensive and they are not able to do it, Wrong, Wrong, Wrong
Asic’s are and have been mining eth for some considerable time.

The fact of the matter is, you can’t halt progress, especially when money is involved, Asic & fpga Tech is moving on at high speed, but Gpu’s are not, if or when they do bring out a card that can compete, it won’t be long before another asic or fpga out performs it.

What now for GPU mining, only real option is to switch to other altcoins, and even then picking’s will be very thin.
I wish it was not so, have never used asic to mine eth and doubt I ever will.
If ProgPow is Asic resistant, there is a glimmer of light but maybe only for a short time.


#7

Is crypto mining really so bleak in the future? I built a gpu rig a year ago but could not fire it up as electricity was so expensive, now I have moved and have solar panels and a small wind generator… So I dusted off the rig, fired it up and then took a look on the net to see what was going on in the crypto-world… :frowning:

Am not entirely surprised to see asic mining gobbling up all the easy profits, and that China and Russia have got so much of it, but is it really going to be all over for us small time miners? Do I just look for some left-over scraps on other alt-coins? Probably asking questions here that we would all like answers to but I am in the curious situation of wondering whether it is even worth firing up my rig…


#8
  1. Yes
  2. yes it is , i dont pay electricity
  3. because i have almost 400 gpu*s
    yes , mining never will die !

#9

Depends on your definition of small miner, 1 or 2 rigs maybe.
Those that have to pay for power, which is the majority of us, mining will die off for cpu/gpu as the cost of electricty is to high to continue. Its cheaper to stop and buy the coins with the money you would have spent on power.
Miners have/are selling off mining rigs for a fraction of what they cost to build.

At the end of the day you will never beat the asic/fpga miners, they are building faster and faster machines
which looks likely to continue well into the future.
They are easy to setup, from the time you unpack it, connect it up, you are mining in less than 10mins.
So it is easy to see why many choose them over building gpu rigs, which can be troublesome to setup.

So yes mining will never die for asic/fpga, but is very likely to die off for gpu miners.

I wish it were not so, c’est la vie


#10
  1. yes
  2. Yes its is profitable with some plan.
    Noticed there is a rebranding patterns for coins. January,February was the month of Beam and Grin, It seems March is becoming the month of Raven, Monero and Zcoin.
    In order to be a profitable miner you need to follow the coin, no emotional attachment or guess work on the next coin that will moon.
  3. Mine because I love the challenges

#11

I agree, Now is not a great time for mining ethereum( ETH) with gpu’s neeed to switch to coins which show show some profit. Mean’s you have to nursemaid the rig tho which can be very difficult if you don’t have the time.as well as having loads of different wallets, which is a downside.
Often the wallet is the weak link.
ETH was good , as you set it up and let it run, which didn’t overall need that much time, just chect in now an then, I didn’t find eth mining that much of a challange to be honest
Frankly if I had access to free power, I wouldn’t bother much with gpu’s would just use asic’s
once they are setup and running, just check in once in awhile.


#14

HI, yes we need cheaper power for sure in UK.
Mining with gpu’s for ETH are not viable, with difficulty going up and reward going down,
Many who still use gpu’s swithed to coins like BEAM, GRINcockaroo 29/31, X16R and
a bunch of others.
I’m always looking for way’s of obtaining cheaper power.
As well as running asic’s almost silently, the Innosilicon A9 runs pretty quietly but mostly Asics are not
very sociable.
So definitely interested in better cooling or silent running.


#19

Didn’t reply to what ?
I don’t stay here all the time, as the forum is rather quiet these days, just pop in now and then.
Just come on before I go an get some zzzzz and saw your post
don’t understand ?
unless you mean someone else .