CryptoCurrency Mining with GPUs *spawn*

Don’t Buy A GPU Right Now: Prices Hit 6-Month Low In Global Markets As US Prepares For A Price Crash

https://wccftech.com/dont-buy-a-gpu...obal-markets-as-us-prepares-for-a-price-crash

Well well well, looks like the tide is finally turning. The markets are a fickle mistress and for the first time in almost a year and a half, the market looks like it might be preparing for a crash. Prices in Germany (3DCenter) have hit a 6 month low and Chinese miners are continuing to flood local markets with cheap, second hand parts. With the wider crypto market in a lul as well, the stage is set for a crash, making this potentially, the worst time to buy a GPU.
 
Dogecoin value gained 2,400% since January, now 5th most popular coin | TweakTown
July 6, 2021
At the moment, Dogecoin has surpassed $253 billion in market capitalization and is sitting in the 5th spot. Most of the coin's increase in value can be attributed to Elon Musk's vocal support for the coin on his Twitter account, as well as Snoop Dogg. It was just the other day that Elon Musk tweeted about Dogecoin causing the value of the cryptocurrency to spike 10%.

Now, Dogecoin has experienced its lows in the past weeks, as have most other cryptocurrencies. However, Dogecoin is trailing behind the big cryptocurrencies now, such as Bitcoin, Ethereum, Tether, Binance Coin, and Cardano. Since January, Dogecoin has increased in value by 2,400%. For more information on this story, check out this link here.
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ETH's London hard fork is now set to be enabled on block 12965000, which is estimated to be around 4th of August 2021.
It includes the EIP-1559 fee market change, which is expected to lower miner return. Probably not much though, as the gas fees are quite reasonable in recent weeks.
 
pcchen said:
ETH's London hard fork is now set to be enabled on block 12965000, which is estimated to be around 4th of August 2021.
It includes the EIP-1559 fee market change, which is expected to lower miner return. Probably not much though, as the gas fees are quite reasonable in recent weeks.
Click to expand...
that hard fork isnt related with the transformation of ethereum to a POS cryptocurrency, right?
 
pcchen said:
No, it's not. It's just trying to tackle the "gas fee too high" problem, which ironically became much less a problem recently when this update is finally ready :)
Click to expand...

Gas cost isn't the only problem that relates to gas consumption.
 
My decision last month to sell all my Vega 56's is looking better every day since. On eBay AMD Vega 56's have recently sold for an average of $574 (last 12 sales). Just a month ago I sold three for an average of $712. So Vega 56's are down about 20% in just one month. By selling them then I netted an additional $630. Vega 56's were selling for $125 just 12 months ago. If I kept them and mined they would have earned around $375 in a month or about 60% of that $630. EIP 1559 is going live on August 4th which will depress mining rewards even more going forward.

I have mined 1.385 ETH since 3/1/2021. Total deposited in my Bank account $2990 since I sell immediately when mined. Crypto prices are too volatile for me to just hold and with Ethereum now at $1744 it was also the right choice for me. Currently 1.385 ETH is now only worth $2415.
 
ETH is on the rise again, more than 50% gain since it's drop to 2k $ mid-july.

If this continues, it's bad prospects for card availability, especially since miniZ v1.8y3 LHR seems to have been circumvented.
 
CarstenS said:
ETH is on the rise again, more than 50% gain since it's drop to 2k $ mid-july.

If this continues, it's bad prospects for card availability, especially since miniZ v1.8y3 LHR seems to have been circumvented.
Click to expand...

Since London hard fork was activated, the "base fee" is burned and not earned by miners, so actual mining profitability is lower. The recent rise of ETH price just barely compensates this.
According to WhatToMine's estimation, a 3080's ETH mining profit is about ~US$6.5/day.
 
Man from Atlantis said:
About 20% decrease on my end. Once ETH trades sideways and transaction count settles, it might be a few percent higher. Last 24hr avg block reward is 2.18ETH.

https://etherchain.org/miner
Click to expand...

I guess this'll depend on how much people are willing to pay for the priority fee. Of course, many clients don't support the new transaction type yet and just keep using the old single fee model, so any fee over base fee are treated as priority fee.
From what I've seen, as long as people keep sending legacy transactions, gas price as base + priority is going to be quite stable, so if base fee goes down (happens when number of transactions per block going down), priority fee goes up. It'll be interesting to see what'll happen when more clients support the new transaction type and allowing people to set priority fee by themselves.
 
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