CryptoCurrency Mining with GPUs *spawn*

Discussion in 'Architecture and Products' started by CarstenS, Jun 1, 2017.

  1. A1xLLcqAgt0qc2RyMz0y

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    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.
     
  2. orangpelupa

    orangpelupa Elite Bug Hunter
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    plz, cheap RTX 3090 plz
     
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  3. Rootax

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    But remember, mining had nothing to do with availability and high prices because math...
     
  4. pharma

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    Dogecoin value gained 2,400% since January, now 5th most popular coin | TweakTown
    July 6, 2021
     
  5. orangpelupa

    orangpelupa Elite Bug Hunter
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    huh. so spiffingbrit's strategy to buy all coins is a good strategy, as long as you just sit on it for years
     
  6. ToTTenTranz

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  7. pharma

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  8. pcchen

    pcchen Moderator
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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.
     
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  9. Cyan

    Cyan orange
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    that hard fork isnt related with the transformation of ethereum to a POS cryptocurrency, right?
     
  10. pcchen

    pcchen Moderator
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    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 :)
     
  11. ToTTenTranz

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    Gas cost isn't the only problem that relates to gas consumption.
     
  12. A1xLLcqAgt0qc2RyMz0y

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    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.
     
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  13. CarstenS

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    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.
     
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  14. Rootax

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    Eip 1559 is in effect, so idk if miners benefit as much as before.
     
  15. pcchen

    pcchen Moderator
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    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.
     
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  16. Man from Atlantis

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    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
     
  17. pcchen

    pcchen Moderator
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    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.
     
  18. A1xLLcqAgt0qc2RyMz0y

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    Watch as ETH gets burned with EIP-1559

    https://etherchain.org/burn

    In total 18038.1 ETH have been burned up to now.

    18038.1 * $3,147.83 = $56,780,872.32 burned
     
  19. ToTTenTranz

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    Do we really need the fully bolded font though?
     
  20. A1xLLcqAgt0qc2RyMz0y

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    Cut & paste from the article produced the font seen.
     
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