Difficulty did rise tremendously again in the past few days, WINTER IS COMING !

LazrailTRLazrailTR Member Posts: 38
RIP ethereum mining in max 2/3 months

Comments

  • josh5901josh5901 Member Posts: 38
    It looked like a good 15% jump from last night when i checked compared to this morning. I HEARD that when the update rolls out they are reducing block rewards but also REDUCING and freezing difficulty until the next update which will be complete Proof of Stake. That's what i've read and i've read conflicting reports on how exactly it's going to hit.
    IF what i said is true, then within 2 weeks or so the difficulty will drop a bit (15% or so), the rewards diminish but the time is reduced as well. Essentially you'd be looking at the same exact payout as you saw yesterday before this massive f'ing hike in difficulty.
    Please, correct me if i'm mistaken on any/all points.
    But yea, i'm about to go to nicehash or mine decred/zcash if this difficulty continues. 192Mh/s yielding .83 eth a month???? C'mon...........
  • mmcruz1979mmcruz1979 Member Posts: 75
    @josh5901 Any advice for dual mine with DCR? Good pool? Thanks
  • parenzoparenzo Member Posts: 23
    seen a small drop in diff.just now, hope it continues to drop or else r.i.p. eth mning
  • zuzuxzuzux Member Posts: 40
    is it possible to mine zchash and another one like with eth
    ?
  • LazrailTRLazrailTR Member Posts: 38
    RIP ETH RIP ETH RIP ETH, date of birth 25-09-2015, funurel = 25-9-17 RIP RIP RIP
  • Miner8472Miner8472 Member Posts: 109
    My profitability went from not bad to making a loss. If I continue to mine now I will be making a loss, which I may still do for a while and then hold that ether. I am sure this applies to a huge number of other people.

    There is an option to mine other coins but they are not that profitable and I wouldn't have any opinion on if they would rise. I wonder at this moment that it would be better to sell your equipment than this option in terms of financial rewards.

    I ran the calculation for a 6 GPU rig in one of the cheaper US states and they are also just about breaking even. I have a 3 GPU rig in the UK so I am screwed lol.
  • LazrailTRLazrailTR Member Posts: 38
    I will laugh at people when eth price drops to 100 and STAY at 100 forever, cause everyone has made some serious losses then
  • RyTEKRyTEK Member Posts: 40
    Miner8472 said:

    My profitability went from not bad to making a loss. If I continue to mine now I will be making a loss, which I may still do for a while and then hold that ether. I am sure this applies to a huge number of other people.

    There is an option to mine other coins but they are not that profitable and I wouldn't have any opinion on if they would rise. I wonder at this moment that it would be better to sell your equipment than this option in terms of financial rewards.

    I ran the calculation for a 6 GPU rig in one of the cheaper US states and they are also just about breaking even. I have a 3 GPU rig in the UK so I am screwed lol.

    If your 6 GPU rig is operating at a loss then I am not sure it is set up correctly, OR your energy costs are astronomical. I have a 4 GPU rig and I should still be turning profits through at least 3 more difficulty bombs. Current prices have me still making $150 USD of ETH a month and I'll only spend $30 in power for the rig.
  • erstwealerstweal MidwestMember Posts: 122 ✭✭
    LazrailTR said:

    I will laugh at people when eth price drops to 100 and STAY at 100 forever, cause everyone has made some serious losses then

    @LazrailTR

    I highly doubt prices will drop to 100 and stay there. If they're going down, it's because the experiment is over and been proven without merit, making them essentially valueless. However, the much likelier scenario would be continued, but moderate increase with some bumps along the way.

    But your $100 prediction makes me wonder why you're even in a mining thread. If you have such little faith in the technology, why bother?
  • parenzoparenzo Member Posts: 23
    think i am off to renting my 100ish mh/s unfortunatly
  • Fish_minerFish_miner Member Posts: 29
    edited September 2017
  • Miner8472Miner8472 Member Posts: 109
    RyTEK said:

    Miner8472 said:

    My profitability went from not bad to making a loss. If I continue to mine now I will be making a loss, which I may still do for a while and then hold that ether. I am sure this applies to a huge number of other people.

    There is an option to mine other coins but they are not that profitable and I wouldn't have any opinion on if they would rise. I wonder at this moment that it would be better to sell your equipment than this option in terms of financial rewards.

    I ran the calculation for a 6 GPU rig in one of the cheaper US states and they are also just about breaking even. I have a 3 GPU rig in the UK so I am screwed lol.

    If your 6 GPU rig is operating at a loss then I am not sure it is set up correctly, OR your energy costs are astronomical. I have a 4 GPU rig and I should still be turning profits through at least 3 more difficulty bombs. Current prices have me still making $150 USD of ETH a month and I'll only spend $30 in power for the rig.
    I meant to say it is making a loss for a projection of 1 year when considering hardware purchasing costs as well. I don't want to make to make predictions for 2 years. The amount of ethereum earned is a good amount greater than the electricity costs for sure.

    Also I am in the UK with a 3 GPU rig. My electricity costs are worse than a lot of US states apart from like California and maybe some others.

    I enjoy mining though regardless of financial profit. I have read a bit more about it and I might stick around anyway.
  • norenore Member Posts: 6
    if there is no mistake at power consumption setup and eth doesn't go below 220$, you can't be at loss when mining. It's loss from the profit. But in 1 month, everything will be great again at least i hope so =)
  • RyTEKRyTEK Member Posts: 40
    Miner8472 said:

    RyTEK said:

    Miner8472 said:

    My profitability went from not bad to making a loss. If I continue to mine now I will be making a loss, which I may still do for a while and then hold that ether. I am sure this applies to a huge number of other people.

    There is an option to mine other coins but they are not that profitable and I wouldn't have any opinion on if they would rise. I wonder at this moment that it would be better to sell your equipment than this option in terms of financial rewards.

    I ran the calculation for a 6 GPU rig in one of the cheaper US states and they are also just about breaking even. I have a 3 GPU rig in the UK so I am screwed lol.

    If your 6 GPU rig is operating at a loss then I am not sure it is set up correctly, OR your energy costs are astronomical. I have a 4 GPU rig and I should still be turning profits through at least 3 more difficulty bombs. Current prices have me still making $150 USD of ETH a month and I'll only spend $30 in power for the rig.
    I meant to say it is making a loss for a projection of 1 year when considering hardware purchasing costs as well. I don't want to make to make predictions for 2 years. The amount of ethereum earned is a good amount greater than the electricity costs for sure.

    Also I am in the UK with a 3 GPU rig. My electricity costs are worse than a lot of US states apart from like California and maybe some others.

    I enjoy mining though regardless of financial profit. I have read a bit more about it and I might stick around anyway.
    Ah, yes I totally understand what you mean. If the move to PoS doesn't come soon, I definitely will not be making profit 1 year out. But much like you, I enjoy mining as a hobby! Happy hashing.
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