Etherium mining is dead

[Kevo05s]

Here's the link to the article
 

Quote

Ethereum mining and its impending DAG increase (the difficulty in which Ethereum mining is set at) began a huge upwards trend a few days ago, its biggest rise in difficulty... ever.

Other than being "sensational" and "exaggerated" (no surprise there coming from tweak town) it is true and it is finally happening. The difficulty of mining Etherium went up by a lot, and it's price went down, so, without being dead, it's not as worth it to mine anymore. If the difficulty keeps on rising, expect to see a lot of video cards flood the used market. Also, this is too bad for companies like MSI and Asus who were building "Mining gpus" that didnt come out in time...

[Max_Settings]

Prepare for cheap RX 580s

[shadowbyte]

finally

[ShadySocks]

That's nothing compared to the price dropping by half... In addition, I am not worried as I have an Rx480 8gb. However, look out for cheap GPUs on Ebay, if miners sell now for 1/2 price, they break even.

[ZestyJalapeno]

Praise the lawd!

[AshleyAshes]

Etherium GPU mining, maybe.  As we know from BitCoin, it's time for FPGAs!  And this will eventually evolve into an ever increasing war of ASIC designs, many of which won't be delivered before their own obsolescence!

[GatioH]

Hah! I just sold my rx480 last night for $390!

[SpaceGhostC2C]

I'm sad I didn't sell my GPUs a few weeks ago (there was a small window of irrationally buying any half-decent GPU for mining), so I could now buy a used, newer card. 

Oh, wait: I would hardly use it anyway

 

[NumLock21]

[typographie]

13 minutes ago, Kevo05s said:

Also, this is too bad for companies like MSI and Asus who were building "Mining gpus" that didnt come out in time...

I don't think anyone at MSI or Asus would be surprised to find that a massive mining fad eventually ran out of steam. If we knew this would eventually happen, the people who work in the industry probably knew it, too. Even if we're not in the darkest days of etherium mining anymore, I don't think Nvidia and AMD want to let this happen to their products every time some new alt-coin spikes in popularity.

[Dietrichw]

I should hurry up and earn enough for payout on my pool. I don't really care what the value is too much as I run off of my own solar system. If it stabilizes I might keep mining with my 290 just for fun.

[Kevo05s]

As someone who doesn't mine, but does PC mods for a hobby, I can't wait to get these miner's cards for cheap on ebay! 

[AnonymousGuy]

All cryptocurrencies are a joke and we'll see "the next one" pop up soon enough that will have everyone jumping over and racing to see who gets onboard first. 

[Dietrichw]

1 minute ago, Kevo05s said:

As someone who doesn't mine, but does PC mods for a hobby, I can't wait to get these miner's cards for cheap on ebay! 

That is how I got my 290 I still have today and use for Eth mining when I'm away from home.

[NvidiaIntelAMDLoveTriangle]

Please let it die, and please no more crypto currencies. Just kill them all.

[Zodiark1593]

Hmm, do I get a 1060, or do I grab a 480/580 and keep my 960 for CUDA tasks? 

[DXMember]

A little sensationalist, don't you think?

The biggest rise before that was yesterday, and before that the day before that, and before that the day before that, and before that the day before that, and before that the day before that, and before that the day before that, and before that the day before that, and before that....

 

Um... this chart explains it better

[JuztBe]

Can someone explain how difficulty got higher? What changed, why it changed and how it changed?

[MoonSpot]

8 minutes ago, Zodiark1593 said:

Hmm, do I get a 1060, or do I grab a 480/580 and keep my 960 for CUDA tasks? 

X80 can CF, 1060 cannot sli.  So thats something to consider.  I'd imagine that a fair few of the minners will maintain a CF system for themselves.  Actually I'd suspect that they're all just going to funnel to some other free money crypto thing and "make" it popular before any thoughts of a fire sale.

[2FA]

Just now, JuztBe said:

Can someone explain how difficulty got higher? What changed, why it changed and how it changed?

Difficulty increases as the number of miners increases as well as global network hashrate. There is an actual formula (which I don't know) but it's a pretty direct association..

[Zodiark1593]

4 minutes ago, MoonSpot said:

X80 can CF, 1060 cannot sli.  So thats something to consider.  I'd imagine that a fair few of the minners will maintain a CF system for themselves.  Actually I'd suspect that they're all just going to funel to some other free money crypto thing and "make" it popular.

Well, my board can do Crossfire I suppose. Maybe if GPUs end up being $120 or lower, I might snag two and a new PSU. Blender Cycles had (quite recently) started using OpenCL (minus a couple features vs CUDA), so two Radeon cards should be quite fast. 

[vanished]

This should be good for pretty much everyone except those who hadn't yet gotten into mining.  People will stop mining, and thus they will stop buying all the GPUs, which is good for gamers, and the miners who have already gotten their share now just need to sit on what they have until the value goes up, as it surely will with supply effectively dropping due to mining being difficult.

[TOMPPIX]

i have said it before and i'm gonna say it again.
FUCK MINERS.

[DXMember]

44 minutes ago, JuztBe said:

Can someone explain how difficulty got higher? What changed, why it changed and how it changed?

too many miners active at the same time

[AndreLebrao]

1 hour ago, Kevo05s said:

As someone who doesn't mine, but does PC mods for a hobby, I can't wait to get these miner's cards for cheap on ebay! 

I am planning on buying a used card too for my new itx gaming build, do you think its safe tho? Buying one for my main rig, will only do 1080p gaming