Mine your ETH while you can and quit complaining. There are many events now in motion that will make mining ETH all but impossible a year from now.
Public release of ASICs coming at the end of July, quite a few were sold at $800, all of these will come online basically all at once. This does not even include all the secret ASICs running currently.
Fools continue to buy and build GPU based rigs, not realizing they will never ROI, at least not with Ethereum, Zcash, or any of the other algos that Bitmain has developed an ASIC for.
With the upcoming transition to POS, the mining reward for ETH will be reduced once again, this time going from 3 ETH per block down to .6 ETH per block. Eventually mining reward will go away completely.
Once this finally does phase out, the remaining coins and algos that can still be GPU mined without ASIC competition will be very few and all those GPUs will need to point somewhere. The days of easy gains and paying off your hardware investment in a few months are over and will not be returning anytime soon, if ever.
Just be glad you got to participate while you could, but from here on out only the big boys with multi-million dollar plus farms consisting of the latest hardware coupled with private mining software and cheap electric contracts of a few cents per KWh will be able to make a go of it. You may have another year to play around with ETH and a few other profitable coins, but I really do not foresee profitable home mining continuing much past that.
None of which you say are true, except the block reward for ETH at a later point. Not anytime soon. ROI for GPUs is at 8 months at current prices. You are a fool to think prices will stay the same. Prices always go up over time. The 8 month ROI will eventually become a month month ROI as the investments go up in price. I don't think many GPU miners mine ETH since January - ETH was taken over 50% by Bitmain in December. Its all about RavenCoin now a days anyways.
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BoardMining (Altcoins)
Re: ETH network hashrate at unseen numbers.
by
ZachE84
on 08/05/2018, 18:18:56 UTC
Dude, bitmain adds ~25 ASICS per day to ETH hashrate. They already own at least 35% of all ETH hashrate. Can't believe people still mining eth.
Some might choose to be a prudish about it, but a privacy centric coin merging with an adult content provider is a great fucking match. That's like bread and butter, mac and cheese, PB&J type of cohesion. You can choose to be offended or see it as a win for crypto. This is an actual case use and automatically elevates verge to an esteem higher than most of your beloved coins that have no real use but to be traded on an exchange.
Sure Verge might have palmed a few hands to make it happen but we all know nothing in life comes for free. Something you might have to do thing others find deplorable in other to make shit happen. Especially when the long lasting effect of such act is exceedingly positive. I personally see this as a win for crypto, especially for privacy related coin. If their is a bump in mindgeek's figure , i bet other privacy coin will be heavily courted by other adult content providers. In all, it aids in encouraging adoption.
But its not a privacy coin. it can be tracked, even by IP. Only Monero is trully private.
I believe the flexible ability to mine different algos/coins is what people are missing when thinking of buying this ETH ASIC. Don't forget that you can mine new coins on their first day of launch and earn more profits than you ever would once they become mainstream. Being stuck mining ETH or ETC for all eternity is not such a good thing really.
better to buy those coins than having a gpu or asic miner for that matter, mining is overrated as long as price of coins are cheap which is at moment.
spending any amount on miners at moment is pointless cause you can get x times the money invested if you simply buy the coin.
This couldn't be further from the truth. Buying the GPU to mine can net you 10,000x the rewards vs. buying coins.
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BoardAnnouncements (Altcoins)
Re: [ANN] [RIL] Rilcoin POW/Scrypt. The safe, easy and simple currency
by
ZachE84
on 19/04/2018, 01:40:35 UTC
explain how the first pool responded in 60 seconds?
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Topic
BoardAnnouncements (Altcoins)
Re: ██【ANN】██ FastChain -SCRYPT- ████ NO PREMINE/NO ICO ████ POW/POS