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Ethereum is stagnant because it's no longer profitable to mine with a GPU as it was during the summer. Bitcoin is rising because it's about to fork.
by vita17 9y ago
Ethereum is stagnant because it's no longer profitable to mine with a GPU as it was during the summer.
Bitcoin is rising because it's about to fork.
- mizzack 9y agoStill plenty profitable to mine if you already have a rig. A 6 card RX470/480 setup will gross about $9/day.
- Lon7 9y agoEven with a rig like that it will take around 10 months to break even. Ethereum will be moving to proof of stake in the future. There is no set date but it could be in approximately 1 year. At that point all these gpu rigs will need to switch to other less profitable cryptocurrencies. We're reaching the point where it may not be possible to break even before Ethereum switches to proof of stake. Consequently, it's recently become easier and cheaper to buy gpus suited to mining.
- jacobush 9y agoYes, and the communists were going to turn over the power to the people. Any year now. Edit: downvoted. I want to make myself clear - how will ETH switch over to proof of stake, when people have so much invested in mining hardware? It won't be pretty. Another fork or two perhaps?
- mizzack 9y agoI did say "if you already have a rig". For the time being, it still makes more sense to mine than liquidate cards. The market is all over the place right now for mining altcoins. NiceHash-Cryptonight (pays out in BTC) will currently gross ~$18-20 a day with the same mentioned setup.
- karlshea 9y agoHow much after electricity?
- mizzack 9y agoA bit over ~$7/day if you pay ~12.5cents/kWh. Obviously everyone's situation will be different.
- vita17 9y agoI've stopped mining. It's still a little profitable on paper (~$1/card/day after subtracting electricity cost) but only because you can't measure what impact mining has on the life of your hardware.