Is the mining thing slowing down?

Zedicus said:
you do realize that there is nearly zero effort and no physical item to keep track of here right? so as long as it turns 1 cent of profit over electricity it will continue on.
my rigs have about halved profitability, so lets see, each card generates 20$ profit per month instead of 40$. hmm let me think, yeah, 20$ profit is still better than 0$ profit.
Click to expand...

Halved? More like 600% less profit mining since December/January for miners.

a single 1080TI was making $10 or more per day at the turn of the year on nicehash. I saw $12 a day for a few days in there.
Yesterday a 1080TI was making $1.40 a day, and it seems like every day lately it ticks down a nickle.

Electricity costs about $.40 cents a day for a undervolted 1080TI right now in my area.
In May that cost goes from .06 kw/h to .14 kw/h for summer season pricing. So say just under a dollar to run a card in electricity cost. Give it another cost bump if you are mining in your house because you gotta pay for AC and the card heat mining fights the A/C.

It's quickly hitting the re-evaluate point for hobby miners in their own residential homes.
 
"hobby miners" are not the ones that are running. at 'break even' the hobby miners still continue. its the farms that start to sell off batches of the lesser efficient cards and start to re-evaluate profitability.

i hobby mine, but i already have a server room in my house with an A/C that would run all the time anyways. i just figure cost of cards and shoot for efficiency of power over pure hash rate. for me it would have to fall another 600% to even consider powering down a mining rig. but then i am just under 400MH in ETH/ETC so i am no where near a farm.
 
Zedicus said:
some are dumping, some quite reasonable deals are available today. rumor is theres a bid to buy a whales amount of BTC over the next 3 days though. rather it is market manipulation or what no one can say. but if it gets a foot hold the turn around and climb could be sooner rather than later.
Click to expand...

That's true. I noticed that the Vega cards are starting to dip another $100 or so on ebay. They get snapped up quick, but they seem to be appearing more frequently. Won't be long before it happens again and we'll be back at MSRP!
 
Many miners are the here and now, not long term. Those will be selling their many excess cards. So if the next month or two continue the needed down turn then cards should return to normal I would think.
 
There are a handful of rigs for sale in my local Kijiji... One listing had 4 rigs made up of 50 cards. I think it's almost time to start sending these guys lowball offers on single cards. You know, just to prepare them for the eventual :p
 
chaloux said:
There are a handful of rigs for sale in my local Kijiji... One listing had 4 rigs made up of 50 cards. I think it's almost time to start sending these guys lowball offers on single cards. You know, just to prepare them for the eventual :p
Click to expand...

Go ahead. He must be crazy if he thinks anyone will buy that now. I'm already lowballing them. It's about time we let these miner's know...#timesup!
 
No chance mining continues resembling what we had been seeing with a 1 cent profit. That amount would take you several years just to break even on your mining rig.
 
People saying it's still worth it with a cent in it, have not accounted for hardware failure.
E.g. they would at that point make more $ selling their cards without risk of them dying.

So sell up, you dicks. I'll give you $200 for one of those tnt2-speed Vegas that are so useless apparently.
 
I'm still bringing in a nice chunk of change mining ETH/Cryptonight. I don't pay attention to the day by day swings, I am in this for the long run.
 
Sure am seeing a lot of gpus in the fs section this week. Might be able to upgrade my 980 someday soon I hope.
 
hmmm, the way I see it Bitcoin will come under serious Government attack soon because hackers who hijack Government and corporate PCs and then charge ransom are demanding the payment to be BITCOIN ONLY

Prepare for $250 GTX 1070's in the near future once Bitcoin collapses due to Government prosecution of those who have not paid their taxes and criminals who demand untraceable BITCOIN payments
 
_l_ said:
hmmm, the way I see it Bitcoin will come under serious Government attack soon because hackers who hijack Government and corporate PCs and then charge ransom are demanding the payment to be BITCOIN ONLY

Prepare for $250 GTX 1070's in the near future once Bitcoin collapses due to Government prosecution of those who have not paid their taxes and criminals who demand untraceable BITCOIN payments
Click to expand...

It's cute that you think Bitcoin has any effect on 1070 prices. If BTC crashes the way I wish it would, it would be a GREAT thing for the alt coins that have an actual purpose (that can be mined ooh so sweet on 1070s)...
 
Well, I hope the mining craze is slowing down, because I'm tired of hearing about it, and I would like to someday get a good deal on an upgrade from my GTX 750 Ti. As far as new GPU availability goes, it seems to me that the manufacturers have milked the mining situation as much as they could. Maybe I'm naive but why couldn't the step up production?
 
It's picking back up again the last week or so. Profits have been slightly climbing again.

Low point was about $1.15 a day per 1080TI a couple weeks back -- now it's getting closer to $2 a day again.
 
  • Like
Reactions: noko
like this
I have not stopped mining and I like getting free video cards from mining and I am always puzzled by responses in these threads about people hating mining and not having a clue in general.
It is mind boggling ,use your frigging video card to mine ,to get money and then get a free video card from mining,anyway to sort of guess OP'S question- is GPU mining slowing down yepper probably for some but I think it will pick back up with higher returns in the next couple months ,which leads to more GPU mining.BLAH BLAH BLAH
 
gerardfraser said:
I have not stopped mining and I like getting free video cards from mining and I am always puzzled by responses in these threads about people hating mining and not having a clue in general.
It is mind boggling ,use your frigging video card to mine ,to get money and then get a free video card from mining,anyway to sort of guess OP'S question- is GPU mining slowing down yepper probably for some but I think it will pick back up with higher returns in the next couple months ,which leads to more GPU mining.BLAH BLAH BLAH
Click to expand...

Unfortunately, I'm still rocking a 780 Ti, so based on my initial research I wouldn't make much profit. Unless I'm wrong of course.
 
RamonGTP said:
It’s cute you think alt coins will thrive if bit coin crashes.
Click to expand...

The coins that have a viable use (Ripple, ETH, GRAFT etc) will thrive if they are managed correctly long term. I did not say that their respective values would not be affected by BTC price short term.
 
ccityinstaller said:
The coins that have a viable use (Ripple, ETH, GRAFT etc) will thrive if they are managed correctly long term. I did not say that their respective values would not be affected by BTC price short term.
Click to expand...

Your post reads

It's cute that you think Bitcoin has any effect on 1070 prices. If BTC crashes the way I wish it would, it would be a GREAT thing for the alt coins that have an actual purpose (that can be mined ooh so sweet on 1070s)...
Click to expand...

"if" and "wish"... Cute... What you "wish" would happen to alt coins if bit coin crashes is not relevant. "Will thrive if managed correctly" is doubly cute. First there's the "IF" portion in there and that's before we even take into consideration your theory is based on guess work

We have historical and current evidence that crypto values have a direct effect on pricing and availability of video cards. There is zero evidence of your proposals and wishes. So who's the cute one really?
 
RamonGTP said:
Your post reads



"if" and "wish"... Cute... What you "wish" would happen to alt coins if bit coin crashes is not relevant. "Will thrive if managed correctly" is doubly cute. First there's the "IF" portion in there and that's before we even take into consideration your theory is based on guess work

We have historical and current evidence that crypto values have a direct effect on pricing and availability of video cards. There is zero evidence of your proposals and wishes. So who's the cute one really?
Click to expand...

Bitter you missed the crypto boat? I don't blame you, I wish I hadbt lost the 5 million worth of BTC I did a few years ago. Thankfully I was smart enough to spread the love around the second time and made it pretty well with LTC, DASH, AND ETH.
 
ccityinstaller said:
Bitter you missed the crypto boat? I don't blame you, I wish I hadbt lost the 5 million worth of BTC I did a few years ago. Thankfully I was smart enough to spread the love around the second time and made it pretty well with LTC, DASH, AND ETH.
Click to expand...

Nice swerve but a bit obvious. I missed the part where you explained how you and your wishing upon a star of what you want the market to do equates a realistic expectation of GPU prices to somehow become cute? Or is this your way of admitting you were talking out your ass and trying to sound smart by saying something stupid?
 
RamonGTP said:
Nice swerve but a bit obvious. I missed the part where you explained how you and your wishing upon a star of what you want the market to do equates a realistic expectation of GPU prices to somehow become cute? Or is this your way of admitting you were talking out your ass and trying to sound smart by saying something stupid?
Click to expand...

Apparently 2 my posts aren't showing up, but let's just agree you won. Feel better?
 
ccityinstaller said:
The coins that have a viable use (Ripple, ETH, GRAFT etc) will thrive if they are managed correctly long term. I did not say that their respective values would not be affected by BTC price short term.
Click to expand...

You need to stop smoking the peyote in your rose tinted glasses.

Altcoins' value have always been pegged to bitcoin, this has been the status quo since altcoins became a thing. If bitcoin dies, then so do all of the altcoin. No amount of management is going to maintain the value of those coins without bitcoin.

People mine altcoin primarily to either directly exchange them for bitcoin or local currency, not to invest in a useless asset because it can't be used for anything else. Bitcoin is basically the only crypto currency which is widely accepted as a form of currency.
 
GiGaBiTe said:
You need to stop smoking the peyote in your rose tinted glasses.

Altcoins' value have always been pegged to bitcoin, this has been the status quo since altcoins became a thing. If bitcoin dies, then so do all of the altcoin. No amount of management is going to maintain the value of those coins without bitcoin.

People mine altcoin primarily to either directly exchange them for bitcoin or local currency, not to invest in a useless asset because it can't be used for anything else. Bitcoin is basically the only crypto currency which is widely accepted as a form of currency.
Click to expand...


Cool story. I'll keep on paying my mortgage with my profits from ETH and Monero.
 
ccityinstaller said:
Cool story. I'll keep on paying my mortgage with my profits from ETH and Monero.
Click to expand...

LOL.

Show me a reputable, established financial institution which accepts either of those coins directly as a payment for a mortgage.

And payment processors or exchanges to convert them to local currency or bitcoin first don't count.
 
GiGaBiTe said:
LOL.

Show me a reputable, established financial institution which accepts either of those coins directly as a payment for a mortgage.

And payment processors or exchanges to convert them to local currency or bitcoin first don't count.
Click to expand...

It's gotta be converted somewhere... isn't coinbase insured? I know they are legit, they report large sums to the IRS.

I paid my mortgage all year so far with crypto profits. I just dabble small time too... who gives a fuck if a bank takes it directly or I tell coinbase and three days later it's in my account?

Personally I love crypto as I see it as redistributing money from wall street to nerds/geeks/tech.

And it should slow down - if I had to guess we're going to spend a few years around 7k.
 
Last edited:
GiGaBiTe said:
LOL.

Show me a reputable, established financial institution which accepts either of those coins directly as a payment for a mortgage.

And payment processors or exchanges to convert them to local currency or bitcoin first don't count.
Click to expand...

Worst.Argument.Ever.
 
This EVGA GTX 1060 SC has been in stock for hours now at $289. I take that as a sign that mining demand has been met. Prices on Newegg have fallen about $50 in the last few weeks, and that card is only $50 over MSRP.

https://www.newegg.com/Product/Product.aspx?Item=N82E16814487260

Could get a kick again if we have another coin catch on fire like Etherium, but there's an upper-limit for BIG miners investing in this boom-bust market. The casual miners have hit peak.
 
Last edited:
GiGaBiTe said:
Read his arguments throughout the thread, he claims that if bitcoin crashes/vanishes that "viable" altcoins will survive and be subject to the same benefits as bitcoin (ie. direct payment without having to convert using an exchange or payment processor.) He then goes on to claim he can directly pay his mortgage with ETH/Monero and provides zero evidence. All of his arguments are based on speculation and wishing upon a star.



Aww, aren't you an adorable little troll. The door is over there, see your way out, thanks.
Click to expand...


First of all, I didn't claim "anything" as fact. I expressed the possibility of bitcoin being replaced for good with more recent and useful block chain based alternatives.

I also did not say that I pay my mortgage directly with ETH or XMR. I said that I pay with the "profits" I made from said coins. . Next time, slow down. In your eager zeal to prove me wrong, you made a stupid mistake and put words in my mouth.


It's so funny how bitter so many people here are over crypto. It's not my fault that you had 3 chances to cash out big and missed out. Those of us that did will continue to look towards the future. The future of blochain being part of nearly every person's life.
 
defaultluser said:
This EVGA GTX 1060 SC has been in stock for hours now at $289. I take that as a sign that mining demand has been met. Prices on Newegg have fallen about $50 in the last few weeks, and that card is only $50 over MSRP.


https://www.newegg.com/Product/Product.aspx?Item=N82E16814487260

Could get a kick again if we have another coin catch on fire like Etherium, but there's an upper-limit for BIG miners investing in this boom-bust market. The casual miners have hit peak.
Click to expand...


For the causal one or two card miners you might be correct. I just unloaded a pair of 580s here and sold my last pair locally. I then turned around and bought 3 more VEGA s (one 56 and 2 64s) for $550/620/680(those one had a full cover EK block).


I am going to continue making a great return on Turtle Coin and flipping it for ETH and XRP. It's a fun hobby that pays me more some make working 50 hours a week.
 
ccityinstaller said:
It's a fun hobby that pays me more some make working 50 hours a week.
Click to expand...

and the profits are taxable ... since you put in writing here I take it you paid your fair share of taxes? Someone might report it ya know - this is the internet after all
 
_l_ said:
and the profits are taxable ... since you put in writing here I take it you paid your fair share of taxes? Someone might report it ya know - this is the internet after all
Click to expand...
but but I thought the internet and cryptocoins were anonymous!? ;)
 
_l_ said:
and the profits are taxable ... since you put in writing here I take it you paid your fair share of taxes? Someone might report it ya know - this is the internet after all
Click to expand...


I like how anti-miners assume that the prospect of having to pay taxes on their earnings will cause the miners to stop mining and sell their cards at a loss to the helpless gamer-victims.
 
craigdt said:
I like how anti-miners assume that the prospect of having to pay taxes on their earnings will cause the miners to stop mining and sell their cards at a loss to the helpless gamer-victims.
Click to expand...
we dont want your used and abused shit. we want crypto to die.
I got ~two years out of a "lightly mined on" 280x, then poof
 
pendragon1 said:
we dont want your used and abused shit. we want crypto to die.
I got ~two years out of a "lightly mined on" 280x, then poof
Click to expand...


Yeah, maybe I should have just left it at:

"I like how anti-miners assume that the prospect of having to pay taxes on their earnings will cause the miners to stop mining"
 
You must log in or register to reply here.
Back
Top