When mining ETH will end?

Cacs_AntibisCacs_Antibis Member Posts: 4
Good evening, i saw some forecasts that shows ETH mining will end soon, as I plan to invest some money i'm concerned with.
Maybe some old miners could help me understand what ill happen, i know you guys don't are Nostradamus, I just want to know your opinion if you could...
In another subject, wich country in europe is the best one to start a mining entrepirse, with 10 rigs (8 GPU'S), analyzing the cost of energy, taxes, favorable environment for mining and costs to maintain the company ... Thank you very much for the answers, I hope to be able to help if you have doubts too!
Cheers!

Comments

  • theonektheonek Member Posts: 94
    to start a mining right now is not recommended at all! Look at the difficulty and more important the eth price keeps falling down... enough people said it already that it will reach lower levels than the last year, so make yourself a good vision what is yet to come and nobody says it will be good... no matter the profit will be around zero or a negative one....
  • Cacs_AntibisCacs_Antibis Member Posts: 4
    I saw the forecasts and still I want to do it, i run though the forum and in 2016 (jan) people said mining would die in two, three months, I know it's a risk move, but maybe mining other crypto can be profit, ETH has been down since Feb, you are right, i sould do more resarches.
    And about the country to work with crypto, mining and blockchain, what you think?
    Thank you very much for your response!
  • peshetomanpeshetoman Member Posts: 78
    http://ec.europa.eu/eurostat/statistics-explained/index.php/Electricity_price_statistics - Bulgaria is where i am, per card we pay 13 euro per month for electricity.(house hold use)
  • Cacs_AntibisCacs_Antibis Member Posts: 4

    http://ec.europa.eu/eurostat/statistics-explained/index.php/Electricity_price_statistics - Bulgaria is where i am, per card we pay 13 euro per month for electricity.(house hold use)

    Thank you for your response! The enviorment (business), open a company and the market in bulgaria is friendly?
  • peshetomanpeshetoman Member Posts: 78
    Unfortunately that i dont know :) But we are part of EU and have to obey most of their laws. Lots of big companies have offices here, DXC(HP) IBM, VMware. I guess they are happy with what Bulgaria offers.
  • iamnoobplzhelpiamnoobplzhelp Member Posts: 239 ✭✭
    If you don't mind losing money now, sure you can start mining. Cards are so expensive that the payback time can be more than 2 years (and getting longer every day). ETH mining will certainly die before that.

    And some people will say "oh you can mine other coins". This is also false. By far the largest majority of GPUs is mining Ethereum. Once Ethereum mining dies, all of those GPUs will go to the next most profitable coins, killing profitability in all those coins.

    Price is very low right now. It's a great time to buy coins. Don't lose your money by starting mining now.
  • SaphSaph Member Posts: 72
    Bulgaria sounds reallllllllllllllllly expensive for electricity, I'm in the UK and 18 cards = £90 a month give or take.
  • Cacs_AntibisCacs_Antibis Member Posts: 4
    Thanks everyone, I'm sure the mining business its hard, maybe It'll die but idk...
    It's great to hear from all of you, i'm looking for people who has experience mining or investing...
    Uk is really that cheap? That's great news! Thank you for sharing Saph!
    Peshetoman, I guess they are happy, the problem is i dont speak Bulgarian, not even Hi hahaha, but i'm sure that the crypto market ill go up along the years, that's why before even starting i'm concerned about the country...
  • peshetomanpeshetoman Member Posts: 78
    I dual mine each card takes around 150W plus 200w for the system :) Здравей = Hi :)
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