/biz/ - Business & Finance

>>51480836
RVN

>>51480842
Not profitable unless you have literally free electricity
But if you have solar panels it's even more profitable to sell the energy to the grid rather than use it to mine

>>51480836
Only users and developpers matter in Ethereum, miners have no relevance.

>>51480873
That depends where you are. In some places they give you less than a third of a unit's cost, to feed a unit back into the grid. I'm tempted to say I've heard as low as 10% of cost is paid back in some areas of the UK but I CBA to check and remind myself of the figure.

>>51480873
What if you live in a very cold area and you use mining to heat your home via the PC's heat?

>>51480836
>Nothing is profitable anymore.
They moved to ETH classic, mitwit.

>>51480836
>Nothing is profitable anymore.
welcome to bear market. this happened every time when the market died.

mining from 2018-2020 was a wasteland. I guess waiting until the next bullrun is the only option, unless you got free elecricity.

>>51482059
no, not that simple. Its not just a bear market. Eth is not minable anymore. That changes the status quo

>>51480836
If you mine or buy Ergo now you’ll have significant money within 4 years

>>51482350
Etherium dev team just hasn’t announced “unforking” yet
Give it a month it’ll be all over the news

>>51482003
it is not profitable not because there is no hash
it is because there is too much hash
so offsetting cost does not really matter at the moment

>>51480873
>But if you have solar panels it's even more profitable to sell the energy to the grid rather than use it to mine

That is coming to an end because it is making the grid dangerously unstable. The extra power is typically not produced when it is actually needed.

>>51482406
>Etherium dev team just hasn’t announced “unforking” yet
>Give it a month it’ll be all over the news

you mean you think they will go back to a model where people waste millions of kilowatts of electricity?

no chance.

>>51480873
No, if you have free electricity you are still losing more money on GPU devaluation. Miners really are a retarded bunch.

>>51482619
Your id is literally pow anon.. idk how much more clear it could be

>>51482003
Depends on what your other heat source options are. If you're using electric heating, then mining is the same cost per BTU but also has minor returns. If you're using gas or something for heat then electric heating costs more and the mining income probably won't offset it (unless you also have cheap electricity, then it might bring you into the black).

>>51482625
>Miners really are a retarded bunch.

They do seem like a bunch of fucknuts. They wrecked pc gaming just to make their pathetic $10 a day profit from doing nothing

>>51482735
>securing the future of finance is nothing

>>51480929
>miners have no relevance
Not after going PoS that's for sure.

>>51482350
>Its not just a bear market. Eth is not minable anymore. That changes the status quo
I agree, I found no reason to talk about the merge as it is common knowledge. In my opinion new pow superstars will emerge, either naturally or via market manipulation.

Wish I knew which coins so I could fill my pockets with them right now...

>>51482735
>HOW DARE THEY INTERRUPT MY BING BING YAHOO

>>51482748
>>51483048
>I'm in it for the tech
All miners should be publicly executed.

>>51482735
>math is hard
My cards paid themselves off x10 keep crying.

>>51483310
You would have been better off with just buying BTC or ETH

>PoW is a wasteful use of energy

>Making a billion units of cheap plastic pieces of shit in China and shipping them all over the world to put in McDonald's Happy Meals is a worthwhile use of energy

>Using energy to power millions of television sets and light stadiums and run cameras, computers, and other associated equipment for televised and livestreamed sports is a worthwhile use of energy

>>51480836
RXD
radiantblockchain.org

>>51483613
It objectively is. All of that and add gaming on top of it, is objectively a much more worthwhile use of energy and resources over a bunch of gpus running 24/7 solving meaningless math equations that provide no worth to anybody whatsoever, you braindead subhuman. If it weren't for gaming you wouldn't have had those gpus to begin with.
You miner scum need to be culled.

>>51484037
they're all bad retard

>>51484037

securing the network isn’t a waste of energy

>>51480836
have you not heard of KASPA retard

>>51484037
Centralized banking system wastes much more gigawatts every day since Tesla created the way to transmit electric energy over great distances a century ago.
You think those bank servers and budings and infrastructure is worth anything?
You think you're smart?
Degen housenigger.

>>51484053
No they're not. Crypto has no intrinsic value whatsoever. The only value it has comes from speculation, literally just like the tulips bubble. On the other hand everything else like tvs, stadiums, computers, ew's etc does, retard.

>>51484053
Nobody cares about your ghost chain network. There is no need for thousands of cryptos to exist. Objectively. All you need is usdt, literally no need for any other crypto.

>>51484037
It's for securing the network, pea brain. So we don't have to rely on jews to create money

>>51484157
Nobody cares about your secured ghost chain. All you need us usdt.

>>51484093
Let's shut down civilization so that Tyrone here has enough power to mine hus efferiums.
Braindead subhuman.

>>51483072
>>51484037
>>51484130
>>51484180
>>51484191
what the fuck is this redditnigger even doing here? fuck off back to r/socialism or whatever MTF tranny board you came from you dumb poor nigger.

Nobody, I mean not a single person on this board, give a single fuck about your stale normie takes on crypto and mining. You are angrily screeching into the void like the stupid midwit you are.

>>51484227
Salty miner subhuman tears are delicious. Have fun mining raven coin, loser. Oh wait my bad, you're """securing the network""", kek.

>>51482016
>-$0.89 daily
Cool shitcoin.

>>51480931
I got solar on my house 6 years ago (3bd, 3baths, basement, ~2000 sqft). It paid itself off in this time and now I have zero electrical bills and get paid 30 cents per kilowatt hour that I provide to the grid. Unfortunately they cap the amount I can provide to only 30 kW at any given time, but essentially it works itself out to about $800 dollars a month which covers my bill (~$170) and leaves me with a nice stack of spending money at the end.

>>51484037
>Gaming is a good use of GPUs and not a waste of energy

Gaymers, everyone.

>>51484431
Gaming brings joy to disabled, lonely or retired people and is infinitely superior to solving meaningless math equations that have no use whatsoever.

I have four 3090s that I switched off for the first time in months that were mining on nicehash. GPU mining is absolutely dead atm. Truth be told I didn't quite hit ROI on them but after I sell them on eBay I'll be well into the black. That's assuming they're still $1000+ on eBay or even better if I can find a local buyer.

I should have gotten out well before Merge and before the GPU glut + rumors of the 40 series.

>>51482016
imagine being that stupid. miners moved everywhere else, nothing is profitable anymore.

>t. 45 GPU home farmer

>>51480836
bc carbon neutrality legislation is coming soon and it's going to fuck pure PoW coins hard w no lube

>>51484647
>solving meaningless math equations that have no use whatsoever
without them "decentralization" is a centralized joke. try reading the bitcoin whitepaper. ETHPOS is a joke.

>>51484732

Typical retard miner. Has years of notice. Keeps doing it until literally after it's not even worthwhile. Hopes to drop his shitty overpriced used GPU on unsuspecting people in a market that's going to be flooded with geniuses thinking they're going to do the same thing. Get a grip on reality

>>51484843
Nobody cares about your decentralization or whitepapers, idiot.
People only care about line go up

Just sell the gpus. Close your eyes and sell.

You can spec mine like I'm doing, but if you don't have another income to pay for electricity you're fucked

>>51480929
bitcoin already proved this in 2017. miners are the devs bitch.

>>51482059
If you mined in the 2018-2020 bear market, difficulty was low, reward was high. Just the prices where shit. But if you held till the bullrun, you became fucking millionaire from doing nothing not even taking any risks

Now, even difficulty is sky high, rewards are abyss low, price is utter shit and If I hold coins mined thuis bear market till the next bull run, I will turn like 80USD into 800USD

It's fucking over

>>51485132
>If you mined in the 2018-2020 bear market,
wrong because buying the coins would be cheaper than energy costs in that time frame.

- GPU mined from 2017-early 2018
- end of 2018 I ASIC mined zcash and had to end it in early 2019 because unprofitable
- whole 2019 was trash
- bought used mining gear in 2020
- end 2020-today mega profitable, scaled up 20 to 45 GPUs, 4 digit profits/month

my guess it: until next bull run which catapults the POW coins into profitable state it will be unfeasible to mine.

>>51480836
They'll just have to repurpose the GPU's to make AI generated porn

>>51480836
Vitalik installed a difficulty bomb to make sure Miners had no choice in the matter. This is the problem with centralization

>>51482735
I made between $3000-$6500 per month profit with around 40 GPUs between Dec 20-Mar22

Stay mad, stay poor

>>51485347
There are a few *new* pow chains coming out that intrigue me, whats the best way to start mining without going broke?
Should I be buying solar panels knowing that I live in Europe?

>>51485472
I had similar amount of GPUs but made 2-3k/month in mid-end 2021. have a lot of 10-series (mostly the P-104 and P-106 mining cards) and a couple of 580s, just recently added a couple of 30s series cards.

>>51485532
I'd recommend not to start now. just use your 1x desktop gaming GPU for speculative mining a coin because it's ALL unprofitable right now, meaning you will pay more for the coin in electricity costs than if you'd purchased it directly. point your GPU to a coin/pool of your choice. start with whattomine.com and youtube. very easy stuff every normie can do it.

>>51480836
>Why did big mining pools allow Ethereum POS to happen?
because miners don't decide on any rules

>>51482003
Unless it's literally Siberia level of cold, you'd only need a couple of years for even an air source heatpump to beat it on ROI.

>>51485472
>I made between $3000-$6500 per month profit with around 40 GPUs between Dec 20-Mar22
>Stay mad, stay poor

Not any more, mong boy.

>>51485532
>There are a few *new* pow chains coming out that intrigue me, whats the best way to start mining without going broke?

forget it. nothing that relies on squandering energy will be allowed to become popular.

>>51485132
only if you mined the right coins. plenty stayed worthless trash. also at that point it was easier to buy and hold than maintenancing rigs, restarting them every couple days, cleaning them, dealing with heat just to make 500 while paying 400-450 for bills.

Some dudes made a bank from mining pows. Some made nothing because they mined the wrong coins. Some sold thier shit and bought coins instead and made it, some didnt.

I love mining but for me it didnt worked out. My landlord started fucking with my bills and I mined some utter trash coins +some of my rigs were inefficient due to low cpu power which is a shame as they run 3-4k worth of gpus with a cheap 50bucks cpu +8gb ram. looking back that was extremely stupid.

>>51480836
The only relevant mining pools that exist in the real world are Bitcoin pools like Luxor that are attached to companies worth tens if not hundreds of millions of dollars.

>>51485472
>>51485539
So is it really that bad now?
Can we expect realistic GPU prices again?

I remember back in the old days, when the mid-range GPU for the masses was an MX440, low to mid end GPUs went for like $30-50, and the highest end ones were like $200-400. Prices like $2000 were unheard of.