Thoughts on GPU Mining - To Invest Into Mining Rigs or Not?
When you are living somewhere abroad, you are spending most of the vacation with your family and friends... The same is currently with me, as I got in my town where I grew up to visit my family, but also some of my old friends... Of course, as we didn't see each other for 2-3, or more years, we are discussing many things and very often, one of them is crypto...
My friends knew that I'm mining ETH with GPUs, but there are many others things that I got involved in the last 2-3 years... But, if I look back, my first step into crypto was through mining, and after that, I have found many others things that are better, more interesting, and more profitable... Like, HIVE, De-Fi, blockchain gaming...
Anyways, in this video, I'm sharing some of my thoughts about GPU mining in the future... Is it OK to start with mining at this moment, how it was 3-4 years before, is it important to know your current ROI for certain cards, etc...
Check out the video for more info... Also, I would like to hear your thoughts about GPU availability, ETH mining, etc...
Thank you for your valuable time,
~ph~
Music in video:
Growing Up by Scott Buckley https://soundcloud.com/scottbuckley
Creative Commons — Attribution 3.0 Unported — CC BY 3.0
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▶️ 3Speak
Well, with Eth 2.0 on the horizon, the future of GPU mining is pretty uncertain. You might be able to ROI if you got a rig running soon, but there's going to be a lot of cards coming onto the market once Eth is no longer mineable.
Agree... The future is uncertain and that is another factor that will make a difference... I don't think that GPU mining will die in the short-mid term and I think that there is still some money that can be made in that... But, I do agree that many people will think like you said, which will open more options for earning for others...
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It seems a bit risky to buy the GPU rigs now, knowing at some point Ethereum will switch to staking. If you already have them that's a different deal, but you were talking about a friend who wants to buy new GPU rigs.
The problem with ETH switching to POS is something that I have met 4 years ago when I bought my first rig... :) It WILL happen sooner or later, I agree with that, but even this EIP thing needed almost a year (or more) to be discussed and approved... So, I don't think that FULL staking (without POW) will take place faster...
Just my 2c... Personally, I will probably add a couple of cards in September-October when I come back from vacation...
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Good information. I have friends mining here and friends wanting to start. I’ll share this with my friend who is on the fence. Here is a pic of the miner friends set up in his bathroom 😂
hahahahaha... that's an awesome setup... lol... He is probably bald, as with that thing over your head it has to be hot... looool...
Cheers!
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.I've got one computer doing GPU mining, and I'm planning on selling the GPU soon because ETH is going to POS soon and I expect the market to get over run with GPUs getting dumped. After ETH mining, the rest are barely profitable (at least for me). Good luck!
There is no doubt that ETH will go to POS... It's just a matter of time, or to be more exact, when...
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