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Ethereum Mining simply to pay for Gaming GPU?

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Comments

  • #32
    circadian
    Registered Users, Registered Users 2 Posts: 7,423 ✭✭✭circadian


    unkel wrote: »
    Very quickly. What card do you have? Even a single lowly RX470 4GB would bring in a 100RVN payment within 10-11 days or so

    Radeon Vii, getting close to 100mh on Ethereum and will have a 6800 soon with another 60ish mhs


  • #33
    unkel
    Registered Users, Registered Users 2 Posts: 66,631 ✭✭✭✭unkel


    Nice. They will pay for themselves in no time!

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  • #34
    harmless
    Registered Users, Registered Users 2 Posts: 1,011 ✭✭✭harmless


    The difficulty jumps have become insane, there's no way price increase can keep up. Right?
    Some are saying move to raven now to get in before a possible massive difficulty spike if others move.
    I could stay on ETH and exchange coin but network fees can be harsh with small transactions.

    I'm unsure on what to do.


  • #35
    unkel
    Registered Users, Registered Users 2 Posts: 66,631 ✭✭✭✭unkel


    I check every day what's most profitable and switch accordingly. The Ethereum difficulty has gone up, but not at all insane, where did you get that from? There simply aren't enough GPUs / ASICs in the world to make it go up much faster. A €300 GPU can still pick up well over $3 per day in Ethereum, so very, very profitable still. EIP-1559 is coming in a few months though. Should that coincide with say a 30-40% drop in the value of Ethereum, a few miners will be in the red. How likely is that though?

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  • #36
    harmless
    Registered Users, Registered Users 2 Posts: 1,011 ✭✭✭harmless


    30% increase in difficulty since March. It takes me just over 10 days to mine the amount of ETH I could mine in 7 days in March, I have the same MH/S as I did back then.

    Would a 0.5% increase in difficulty on average per day not be considered insane? Especially as it is unlikely to slow down until EIP 1559 when the rewards for mining drastically reduces.

    Or has it little to do with difficulty and more about other factors?


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  • #37
    unkel
    Registered Users, Registered Users 2 Posts: 66,631 ✭✭✭✭unkel


    harmless wrote: »
    30% increase in difficulty since March.

    So? The coin has gone up about the same in value since March. The dollar value of the mined coin per MH/s is still about the same.

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  • #38
    harmless
    Registered Users, Registered Users 2 Posts: 1,011 ✭✭✭harmless


    unkel wrote: »
    So? The coin has gone up about the same in value since March. The dollar value of the mined coin per MH/s is still about the same.


    I don't believe that is sustainable, there will need to be a massive spike in value when the rewards drop in July. Of course it's all speculation and we will have to wait and see what happens.


  • #39
    Jackben75
    Registered Users, Registered Users 2 Posts: 195 ✭✭Jackben75


    harmless wrote: »
    I don't believe that is sustainable, there will need to be a massive spike in value when the rewards drop in July. Of course it's all speculation and we will have to wait and see what happens.

    agreed. Had a rig set up circa 2016, returns were very good, particularly if sitting on them now. Had quite a few gpu failures (running 25), eventually became redundant then got quite costly to keep replacing, of course, if i could of told the future price of eth, i would of continued. Done well though. Wouldn't touch it now..


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