Ethereum GPU mining?

[DrMrLordX]

Speaking of ETH mining costs exceeding profits, that might be coming soon. ETH is trading near $13 now. It's getting close to the point where it started that bull run shortly before the DAO hack. I sorta wish I had bought more back when it was ~$6.70 but whatever, at least I got what I did.

ZEC difficulty is dropping in fits and starts so it remains somewhat profitable for me. For now.

 

[n0x1ous]

Nice little run on price, but the difficulty is getting out of hand. more and more miners at this late stage driving up the difficulty or what?

 

[poofyhairguy]

Nice little run on price, but the difficulty is getting out of hand. more and more miners at this late stage driving up the difficulty or what?

Yeah the price increase is nice but honestly I have decided I don't want to mine during another Texas summer no matter the price. I will quit in about a month.

 

[IEC]

I'm mining at reduced capacity. Not cold enough to run so many "space heaters" now.

But yes, unless profitability goes through the roof I will likely downsize.

 

[Elfear]

I'm mining at reduced capacity. Not cold enough to run so many "space heaters" now.

But yes, unless profitability goes through the roof I will likely downsize.

Decided to do the same and sell off the GPUs in two of my rigs. Down to one mining rig now with 6 480's.

 

[VeryCharBroiled]

poofyhairguy said:
Yeah the price increase is nice but honestly I have decided I don't want to mine during another Texas summer no matter the price. I will quit in about a month.

quote seems broken for me.

for summer here in the northeast i will switch to high efficiency mode rather than high hash rate mode. still should will be worth it depending on what the various coins look like then. but only running 5 cards so the heat isnt that bad to get rid of.

 

[dajeepster]

Yeah the price increase is nice but honestly I have decided I don't want to mine during another Texas summer no matter the price. I will quit in about a month.

I just moved to texas last may. I point all my fans out open windows to blow all the heat out, and run the ac only when internal house temps get above 82F.

 

[poofyhairguy]

I just moved to texas last may. I point all my fans out open windows to blow all the heat out, and run the ac only when internal house temps get above 82F.

I am trying to avoid using the AC to save money but it's hard. Right now my upstairs (where the mining happens) is 91F. I can tolerate that for a month a most (by avoiding that part of my house) but I have to stop before April when the outside temps will make that rise above 100F easily (or if not my electric bill will be massive). Luckily I have less than ten ETH to mine to hit my goal.

One good thing about this is I don't think I will ever get cold chills ever again. All winter long when I felt cold I just pretended I was in my mining room in mid summer again. Would warm right up.

 

[IEC]

I didn't turn on the heat a single time this winter.

My power costs just over 9c per kWh so heating via mining rig was actually cost efficient.

 

[Jose Castillo]

guys i just recovered the cost of my first 2 rigs last month, im thinking to buy another rig, according to my calculations i should recover my investment on 10 months (almost free electricity), what do you guys think? should i buy a new rig, or just play it safe?

 

[DrMrLordX]

Play it safe unless you have a backup coin to mine. Ethereum is headed for a difficulty spike that will make mining virtually impossible - that is when PoS must start. And that happens in . . . about 9 -10 months?

 

[Jose Castillo]

Play it safe unless you have a backup coin to mine. Ethereum is headed for a difficulty spike that will make mining virtually impossible - that is when PoS must start. And that happens in . . . about 9 -10 months?

Yeah i see your point, im hopping the price keeps growing so it compensates at least partially for the difficulty spike, in 10 months i should recover my invesment with my electricity price, and when pos happens maybe i could mine another crypto? I dont know, part of me thinks that, the other part just says play it safe

 

[DrMrLordX]

I switched off ETH mining already. ZEC still works. For now.

 

[Jose Castillo]

I switched off ETH mining already. ZEC still works. For now.

Yeah, thats an option, maybe even monero... But its risky, i know

 

[dajeepster]

I am trying to avoid using the AC to save money but it's hard. Right now my upstairs (where the mining happens) is 91F. I can tolerate that for a month a most (by avoiding that part of my house) but I have to stop before April when the outside temps will make that rise above 100F easily (or if not my electric bill will be massive). Luckily I have less than ten ETH to mine to hit my goal.

One good thing about this is I don't think I will ever get cold chills ever again. All winter long when I felt cold I just pretended I was in my mining room in mid summer again. Would warm right up.

that's why i try to exhaust as much hot air out window so that it doesn't warm up the place. I don't exhaust hot air into the place, it all goes out the window as well as i can. Most of my GPUs are blower type, so that helps with directing the air. I did that for a reason. Keeping the house at a cosy 82F is the comfort spot for me... it's shorts weather all year round. If i want colder AC, i just go into work which is only 5 blocks away.

on a side note, i did burn the plug on a portable floor AC unit i had.

 

[IEC]

ETH flirting with $19. I just paid for my Ryzen preorder a couple of times over

 

[poofyhairguy]

Yeah looks like the Chinese just discovered ETH and Dash. This is going to spike difficulty though.

Just did the math and my release day 480 has now more than paid for itself twice. Hell it maybe paid for a Vega if I then sold it.

Thanks again for that Newegg link IEC lol.

 

[IEC]

Holy moly that volume. And now testing $20.

I should have "hodl'd" all ze coins.

But oh well, "free" (discounting risk, effort, and annoyance) hardware.

 

[DrMrLordX]

I only wish I had been able to buy more at ~$6.70 a few months ago.

 

[Feld]

I only wish I had been able to buy more at ~$6.70 a few months ago.

Yep. I did snap up a bunch at $7.50 though. I'm really glad I did.

 

[codyray10]

Are any of you guys dumping? Im torn on whether to sell some off. I did buy 10 eth or so when it was in the $7-8 range. Maybe just move those ones

 

[DrMrLordX]

I'm not dumping because I don't play a short game. It may drop eventually. Moving ETH to BTC before ETH takes a drop would let me rebuy ETH at a discount. I just don't trust myself to play the market with that degree of precision.

Eventually ETH will go higher on strength of value, and then there's PoS where ETH will make more ETH (probably) so . . . I would rather just hold.

 

[VeryCharBroiled]

im with DrMrLordX

basically, HODL.

ive tried playing one coin against the other in the past, was pretty much a wash for the effort. and i want enough eth to be able to stake when it goes POS.

 

[Madpacket]

HODL. Ethereum is full steam ahead with the big companies hopping on the Ethereum Enterprise train. Today's value will look laughable once the real useful DAPPs arrive. ZKSNARK integration will provide necessary anonymity, and proper incentivized anonymous file sharing is on the way. If they also nail a decent PoS implementation and sharding (harder said than done) the sky really is the limit.

I'm always tempted to sell when the price goes up, but in the past when I've done so I usually end up regretting it.

If you're a hodler - Ether, BTC, DASH (wish I bought more than 10 lol) and Monero are all pretty solid coins to sit on right now.

Just remember this is all really high risk and experimental stuff. I've had close personal friends with much smaller investments in crypto have major panic attacks and cause them huge amounts of stress with the price fluctuations. If you're easily stressed please stay away.

I know it's cliche but please don't invest in more than you can afford to lose (mining or buying) . Your health is the most important asset.

 

[dajeepster]

i dump.. cause i don't mine to support my finances, i mine to support my DC hobby.