Quote from: avikz on Today at 07:24:53 PM

Quote from: Chris Redfield on March 27, 2021, 05:54:58 PM

Hello everybody,

I started mining ETH one month ago with single RTX 3080.I'm very new to all this and I still have lot to learn so please don't hate me if I ask stupid questions.
I know that ASIC was announced to be released in July and it will make mining more difficult for GPU miners.
I also know that transition to ETH 2.0 has began in December 2020 and we're in faze ''0''.
Some say that POW will end around 2024 and POS will begin.
I'm not too much familiar with things with going to POS and how less profit can I expect as time passes.
I have single RTX 3080 and I'm earning around $180 per month after I pay for electric bill.
I'm getting around 94Mh/s with my GPU and with current difficulty I get around 0.00460 ETH daily.

Since you're a lot longer in mining and have much more experience and knowledge,I would like to ask you to tell me your opinion if I'll have profit of at least $100 with payed electric bill in next 2 or maybe even if possible 3 years (I know 3 years is a bit too long)?

I don't plan to sell my ETH,but instead wait for value to jump for around $10000-15000 per ETH in around 2025. and then sell it.
I say $10000-$15000 per coin because that's what many say is realistic prediction.

So,judging by release of ASIC and transition to ETH 2.0 and POS,will I still be able to mine ETH with single RTX 3080 with success and decent profitability in next few years?

Hi, welcome to the world of mining! 94 MH/s is a lot of power as on date but things will not remain as it is in 2-3 years for sure! You can use the below calculator to see your profitability.

https://www.cryptocompare.com/mining/calculator/eth

But once ETH 2.0 will be launched, you will quickly have to find a new coin to mine because it will be moving to POS algorithm. I think the best way to make profit is to hold your ETHs for now and sell it at a higher rate in future. I see you are ultra bullish with ETH. While I don't think ETH will go to 15k in 3 years but it definitely has the potential to reach at least 5-7k realistically.

So mine whatever you can now and wait for a better time to sell and book profit.

Thanks everyone for sharing your opinion,I didn't manage to quote everyone since I never learned how to multi quote on bulletin forums.
Yeah,I was one of very few lucky that manage to grab RTX 3080 for good price and it gives great hashrate of 94 Mh/s and I'm aware that it won't gave that hashrate in next 2-3 years.However I still hope it will have decent hashrate of around 60 Mh/s,but I'm very optimistic with that prediction,I think it would realistically gave around 40Mh/s.
If mining still remain profitable and keeps growing and many big players like Musk,Paypal and Visa jump in it will help move things forward so I'm very cautiously optimistic for future of mining and crypto world in general.
I plan to hold my ETH and sell them in future,probably around 2025. as many said that it could jump to 10000-15000 dollars per ETH.
I honestly don't believe that ETH will worth that much even in 2028. if it reaches that big number at all.
I agree that it could realistically reach around 5-7K in 3 years,but I'm still hoping that it may reach 9-10K by the 2025. although I'm pretty skeptical.
While I was reading many prediction for ETH I saw that many ''experts'' agree that it could realistically reach 10k in 2025.,I'm not expert at all,but I still think it's a bit too optimistic.I won't event comment things like 20k.
One of you mentioned that I should switch to ETH classic after ETH goes to POS and I think that's good alternative or at least I heard it is,however when I check Whattomine I see that ETH Classic is on 35th place as most profitable coin.
I currently getting $9.33 of profit from mining ETH,and one of the next most profitable coins seems to be Conflux which would gave me profit of $5.68 per day.
That's still much more than ETH Classic which gives me profit of only $2.26 per day.
I'm curious how come is ETH Classic more profitable if I can get more Conflux and trade it for ETH?