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Showing 14 of 14 results by WellShyte
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Board Announcements (Altcoins)
Re: [$XVG] VERGE [POW][MultiAlgo][BLACKHOLE][Entire Line of TOR/i2P Resources]
by
WellShyte
on 24/07/2018, 11:46:14 UTC
Quote from: nicklello on July 23, 2018, 08:34:22 PM
Does anyone have an idea how much is the VERGE prediction for this year? What is the connection between verge and litecoin? Been off for a long time

"Possibly $15.00."
- John McAfeee
Post
Topic
Board Mining (Altcoins)
Re: ETH switch to PoS will kill GPU mining but everybody seems pretty relaxed
by
WellShyte
on 20/11/2017, 12:21:34 UTC
Thanks to all for your replies. Some of them have made me a bit more optimistic about the future of GPU mining.
Post
Topic
Board Mining (Altcoins)
Re: ETH switch to PoS will kill GPU mining but everybody seems pretty relaxed
by
WellShyte
on 20/11/2017, 07:45:08 UTC
Quote from: Smilee on November 20, 2017, 04:57:42 AM
Where are you getting your information that ETH will go to POS soon.  Last I heard it was late 2019-2019?

Vitalik Buterin seems to hate miners......I believe he will go to POS as soon as he can.  I think he hates seeing miners make money and wants developers to make all the money.

Very hard to tell, there are so many different sources stating different things. Why do you think 2019? Where does that come from? Would be awesome if true.

Quote from: GabryRox on November 20, 2017, 05:37:16 AM
I find it comical that the OP, a newb with 11 posts, posts some pretty short-sighted assumptions then gets pissy when people apparently don't disprove his nonsense... even though many posts have done exactly that.

One little nugget for you OP... if you are not already in mining (with paid off hardware, etc), you most likely will not be able to ROI any new rig you put together.  The only way current miners are able to stay profitable is to sell there old GPUs and turn around and build upgraded rigs that provide high hash-rate.  So for instance, the cost me going from a 6x R470 rig to a 4x Vega 56 rig is really only about $400 out of pocket. ($1800 for the Vega's less $1400 from selling off the 470's).  That new rig will get more than 2x it's current hashrate on all cryptonote coins which will enable me to ROI that extra $400 spent upgrading in about 2 months.  However, if you're builiding that 4x Vega rig from scratch you will be out of pocket about $2,500 and unless XMR goes to $1,000, you will never ever ROI that rig.

So bottom line... just give up lol.  Orvif you want to be smart just invest that money into coins and stop worrying about trying to figure out things you clearly have no comprehension of. ;-)

So I haven't been on this particular forum for a long time so that somehow devaluates what I say? Real mature.

P.S. Selling 6 rx 470 that has been tortured on full throttle 24/7 for 1400$? You have to be kidding me.
Post
Topic
Board Mining (Altcoins)
Re: ETH switch to PoS will kill GPU mining but everybody seems pretty relaxed
by
WellShyte
on 19/11/2017, 15:51:09 UTC


What news mate??
[/quote]

Google "eth swith to pos". Nobody knows when it will happen exactly but I think the probability of it happening within next few months is pretty high. They are already testing the soft.
Post
Topic
Board Mining (Altcoins)
Re: ETH switch to PoS will kill GPU mining but everybody seems pretty relaxed
by
WellShyte
on 19/11/2017, 15:30:01 UTC
I don't mind high risk if there's high reward. Right now mining profitability largely depends on coins value increase. If the price stays same and difficulty increases, ROI is nearing 2 years, which is not that appealing, considering the equipment might not live much longer. So profit largely depends on coins value increase, which in turn means buying the coin is pretty much as profitable as mining. The difference is lack of elbow grease and no risk of some huge turd hitting the fan (like 3.8 million GPU-s migrating to your favourite coins). Of course this is just my opinion, I created this thread because I thought maybe I'm missing something and my grim analysis is flawed...
Post
Topic
Board Mining (Altcoins)
Re: ETH switch to PoS will kill GPU mining but everybody seems pretty relaxed
by
WellShyte
on 19/11/2017, 12:31:03 UTC
Quote from: treanski on November 19, 2017, 12:24:23 PM
risk it or leave it but stop this bullshit im getting headache

Learn to differentiate between risk and negative outlook. I don't have a problem with risk.
Post
Topic
Board Mining (Altcoins)
Re: ETH switch to PoS will kill GPU mining but everybody seems pretty relaxed
by
WellShyte
on 19/11/2017, 12:13:55 UTC
Quote from: Tidsdilatation on November 19, 2017, 11:32:15 AM
No one really mines ETH... There are way more profitable coins to mine. I dont see your correlation with GPU Mining Dying....

I got my numbers wrong last time so lets try again. Lets convert nethash to number of gpus, for simplicitys sake for example rx470

Some most popular coins amount gpu-miners - zcash, monero, etc

Zcash     Nethash 335 Mh/s    Hashrate per gpu  260 h/s     Number of rx470 eqivalent gpus   1,300,000
Monero   Nethash 250 Mh/s    Hashrate per gpu  660 h/s     Number of rx470 eqivalent gpus      380,000
ETC        Nethash 8 Th/s        Hashrate per gpu  26 Mh/s     Number of rx470 eqivalent gpus      307,000

And ETH: Nethash 100 Th/s  Hashrate per gpu  26 Mh/s       Number of rx470 eqivalent gpus   3,850,000

So, claim that noone is mining ETH isnt exactly true.
Post
Topic
Board Mining (Altcoins)
Re: ETH switch to PoS will kill GPU mining but everybody seems pretty relaxed
by
WellShyte
on 19/11/2017, 10:19:26 UTC
Quote from: Marvell2 on November 19, 2017, 10:00:03 AM
Again theres nothing to see here if youre so confident wtf are you here posting anyway

As I said in my previous post, I'm here in hopes of someone overturning my arguments. I want to start mining but it has to be an informed decision.

And yes, I was mistaken when comparing hashrates. I admit it. Thanks for pointing out.

So, can anybody say how does ETH computational power compare to all the rest of the coins? It feels like most gpu miners mine ETH. How much would other coins hashrates increase on average if all ETH miners would join other coins?
Post
Topic
Board Mining (Altcoins)
Re: ETH switch to PoS will kill GPU mining but everybody seems pretty relaxed
by
WellShyte
on 19/11/2017, 09:44:50 UTC
Quote from: Marvell2 on November 19, 2017, 09:25:30 AM
be scared then an quit , gpu mining is going NOWHERE in fact its making an even bigger com3back next year
its harder to centralize than bitcoin , x11 and scrypt so it will only get bigger as new projects are developed when eth goes away.

I was hoping wise minds of this forum will overturn my arguments and prove me wrong and I could go on building my awesome rig. That hasn't happened yet. You are very emotional, almost religiously defending your optimism. Numbers speak other language tho. The argument "there will be always other coins to mine" doesnt cut it. Just compare network hashrates. ETH has 100 TH/s, next contender is ETC with 8 THs, rest are even not worth mentioning. After ETH goes PoS, all of those gpu-s that are part of this 100 TH/s are goint to look for "other coins to mine". It's ridiculous. There's not enough money in other coins to make this computing power profitable. How do I get this through to you people? Let's try a simpler analogy:

There are two cities next to each other.

City 1 has 100 car repair shops (miners) that cater 100,000 cars (hashrate need).
City 2 has 10 car repair shops that cater 10,000 cars.

Now, all of the sudden, all cars in the bigger city cease to exist (ETH stops needing miners). According to your logic the 100 car repair shops in bigger city will be fine, because there will always be cars that need repairing in the smaller town.
Post
Topic
Board Mining (Altcoins)
Re: ETH switch to PoS will kill GPU mining but everybody seems pretty relaxed
by
WellShyte
on 19/11/2017, 08:43:53 UTC
Quote from: leemaster on November 19, 2017, 08:42:28 AM
GPU mining will not die , as people wrote , there will always be coins to mine.

Ok, I'm done here...
Post
Topic
Board Mining (Altcoins)
Re: ETH switch to PoS will kill GPU mining but everybody seems pretty relaxed
by
WellShyte
on 19/11/2017, 08:30:44 UTC
Quote from: Marvell2 on November 19, 2017, 08:11:51 AM
yeah these scared lemmings make me laugh, crypo and altcoins are still in infant stages, you remove eth and btc and we have only around 60 billion in market cap or less, thats pocket change, tons of coins are due for huge pumps in the next few years even if eth fails

Wow, people just keep posting irrelevant replies. Big market cap and bright future for altcoins, thats wonderful. But will it ease your pain when ETH miners migrate their HUGE hashpower to your precious infant coins and their difficulty goes up tenfold? The price increase will take years to compensate such difficulty hike. And until then you can use your rigs as cupholders.

Yours Sincirely,
Scared Lemming
Post
Topic
Board Mining (Altcoins)
Re: ETH switch to PoS will kill GPU mining but everybody seems pretty relaxed
by
WellShyte
on 19/11/2017, 07:08:20 UTC
Quote from: szafa on November 19, 2017, 06:56:38 AM
I dont care i am not mining eth.

From what I understand, end of ETH mining will be end of mining all coins. See the facts in the first post. I don't understand how everybody won't arrive to the same conclusion. Am I missing something important here?
Post
Topic
Board Mining (Altcoins)
Re: ETH switch to PoS will kill GPU mining but everybody seems pretty relaxed
by
WellShyte
on 19/11/2017, 06:56:55 UTC
Quote from: spiftheninja on November 19, 2017, 05:54:34 AM
There are, have been, and always (?) will be profitable coins to mine. You seem to think everyone with a GPU mines on ETHash. Many people have already jumped off that ship into other algorithms!

They won't be profitable any longer after the enormous gpu mining power jumps from ETH to other coins. That will create a massive explosion in difficulties for all coins. Thats the main point here.

I still feel like we are not on the page here, guys. It's not about the fate of ETH, it's about mining power and difficulty of all altcoins.
Post
Topic
Board Mining (Altcoins)
ETH switch to PoS will kill GPU mining but everybody seems pretty relaxed
by
WellShyte
on 19/11/2017, 05:50:01 UTC
So here I am, planning my new gpu mining rig, when I stumble upon this ETH switching to PoS news, and it's looking terrible for gpu mining. So I open the forums expecting a wide spread panic, but there are even now topics on front page about it. On other topics, hero members are expressing their belief that "gpu-mining will flourish in 2018". A reputable cloud mining sites are offering ETH mining contracts and state that "Should Ethereum (“ETH”) switch to proof-of-stake before the end of the term, we will use the leased hardware on a best-effort basis to mine the most profitable coin with that hardware for you". "Best-effort" being the keyword since after ETH switches to PoS, it will result in difficulties of all the altcoins going through the roof.

So what the hell is going on? Did everyone take the forget pill? How is everyone so oblivious?

Here are the hard facts:

1. ETH will switch to PoS soon
2. ETH network hashrate is many times higher than all other gpu-minable coins combined
3. After ETH completes switch to PoS, all of this hashrate will (try to) migrate to other gpu-minable coins
4. Difficulty of those coins will skyrocket, rendering gpu-mining obsolete or marginal