The sad reality of GPU mining after the Ethereum merge.

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  • Опубліковано 24 лис 2024

КОМЕНТАРІ • 121

  • @David-yv7ln
    @David-yv7ln 5 місяців тому +28

    “You’ve got to know when to hold 'em, Know when to fold 'em, Know when to walk away, And know when to run.”

    • @alexandreclemente6390
      @alexandreclemente6390 5 місяців тому

      Indeed the right move would have been to sell all gpus in 75% of the cycle in, then buy back in the bear.
      If BTC keeps going up and nothing happens b4 this december il probably just throw in the towel and take a small loss selling the gpus....

    • @iamsoldats
      @iamsoldats 5 місяців тому +2

      If you were treating this like a poker game or a casino, then you lost before you started.

    • @agranula
      @agranula 5 місяців тому +1

      "You never count your money, when your sitting at the table. There'll be time enough for counting when the dealings done."

    • @joeblow7992
      @joeblow7992 5 місяців тому

      ​@@agranula thats stupid not knowing how big your stack is when sitting at the table. learn to play.

    • @agranula
      @agranula 5 місяців тому

      @@joeblow7992 Lmaoo kenny rogers the gambler is the song.

  • @red1l49
    @red1l49 5 місяців тому +13

    My GPUs are unplugged since 2 weeks After the Eth merge! But this cycle does not show any sign of breaking yet. We need like a 200x on a POW altcoin just to go back to the way it was before the merge profitabilitywise.

    • @MrKennymkkormik
      @MrKennymkkormik 5 місяців тому +1

      My radeon VII sleep for a few months... also Vega cards.. i turn on rtx sometimes.. but man.. Its propably better to buy the POW coin and then sell it for profit.

  • @DeepChunk
    @DeepChunk 5 місяців тому +3

    Mining for profit is more and more becoming a big boy business, centralization at its best. Btc was cpu mineable, gpu mineable, now its over, only asics, only big asics and getting bigger because of the size of the network to support. It works like that but it wasnt neant to be like that. This goes with every pow coin around. Spec mining is the way to go for gpus, undortunately.

  • @WhatTheFlipOfficial
    @WhatTheFlipOfficial 5 місяців тому +2

    Said this at ETH merge and will say it again... mining profits will always be less than the depreciation of due to NO GPU SHORTAGE and NOTHING STEADY to mine.
    ETH merge brought down a lot of things just to satisfy tree-huggers.
    ETH would still be backed by miners, price would have continued to moon.
    Sold all my GPUs on the day of the merge, except 8 of them. Saw the penny profits they made, not even worth my time to maintain them and that's not even accounting for depreciation. I'm just glad I didn't buy any GPUs over MSRP but was able to sell a bunch over MSRP.
    The best part of this whole thing was during the RUMORS of the ETH merge where miners were panic-selling them at MSRP. I bought them all up and flipped them to FOMO-miners for a 50-100% profit.

  • @SmashingBricksAU
    @SmashingBricksAU 5 місяців тому +2

    I loved mining, only did it for just under 2 years and got out before the merge. Our electricity went from 12 cents when I started to 22 cents (AUD) over that time, now it is 28 cents!
    The ROI's are in the thousands of days. I still have a baby rig only 3x 1660's TI's that i did think about firing up over winter for a heater but even that isn't worth it

  • @BlueBearCrypto
    @BlueBearCrypto 5 місяців тому +3

    Mining in the UK is ROUGH but i'm trying my best to make it work thanks to your early videos way back before Ethereum. It's a juggling game of risky variable electricity rates, solar panels and a battery to protect yourself from high rates throughout the day.
    I remember coming up to the last bull run going back to your OLD OLD videos thinking this guy had no idea how big this was going to be and he's in the big bucks now.
    I think we'll be in the same boat in the future, not sure when by Crypto is still very early in adoption globally.

  • @sadiesometimes1141
    @sadiesometimes1141 5 місяців тому +3

    When profits are down, it's a great time to play around and learn new things. Solo, cli bitcointalk spec, cpu, trading, infrastructure planning. Some farms have been profitable since the merge....

    • @metal_mo
      @metal_mo 5 місяців тому

      you forgot "get hacked when you download a sketch core wallet to your daily driver PC"
      😂

  • @BlackRoseCrypto
    @BlackRoseCrypto 5 місяців тому +1

    If people don’t rally behind a project it might stay this way Eth miners were apart of the project in the early days if we don’t do that now it’s doomed if a project is just about mining it will fail unless they have millions to list the project.

  • @SubjectiveFunny
    @SubjectiveFunny 5 місяців тому +8

    Yeah, here in the UK we pay the equivalent of $0.32kWh and $0.46 a day standing charge.
    Try make it work with THAT electricity cost..

    • @weepz
      @weepz 5 місяців тому +1

      That's why I sold my rig back in 2022!

    • @johnnyboy2459
      @johnnyboy2459 5 місяців тому

      Price of electricity it capped at £3,500 per year so abuse it!!!! It becomes cheaper

    • @LucianSlick
      @LucianSlick 5 місяців тому +1

      @@johnnyboy2459 wait yoou are telling me that i cannt be charged more than 3,500 pe year for electric?

    • @SubjectiveFunny
      @SubjectiveFunny 5 місяців тому +1

      @@LucianSlick he is talking nonsense..

    • @crazygamer_uk
      @crazygamer_uk 5 місяців тому +1

      Price cap dictates price per kw/h not the max your bill will be gpu mining in the uk died about 2 years ago

  • @imaginariumpictures
    @imaginariumpictures 5 місяців тому +1

    While I do think there is a long game to the Web3 space, current macroeconomic conditions are a wet blanket to everyone's efforts.

  • @livingourdestiny9075
    @livingourdestiny9075 5 місяців тому +2

    After ETH moved to POS I had my rigs down for a month...took them all down and cleaned them all up...I use the rigs to heat my home during the winter and just pay my hydro bill...I view my holdings as part of my retirement....been mining since about 2019 in the last bear market..everything feels the same as last time to me...
    In the long run I think the ETH POS move is good for the industry....lots of projects worthy of development and support...but I can totally sympathize with people that aren't mining yet..this is a business after all and should be treated as such.

  • @2ndtlmining
    @2ndtlmining 5 місяців тому

    Bear markets are tough and long, but i do feel most of the pain is behind us. Hard pushing through this last little bit, but those who do will likely/hopefully/potentially be rewarded

  • @bNixx83
    @bNixx83 5 місяців тому +10

    RIP Xelis. Just when I thought GPU miners had hope. Another one bites the dust. $XEL

    • @blackmennewstyle
      @blackmennewstyle 5 місяців тому +1

      You should pay mpre attention to the POW algo, lot of people always neglect the ASIC resistance criteria, it's the only way to support GPU mining, also dumping the coins for more inflated FIAT does not help either lol

    • @bNixx83
      @bNixx83 5 місяців тому

      @@blackmennewstyle Yup. Agreed.

  • @ich_16
    @ich_16 5 місяців тому +1

    the merge is the reason that i mined kaspa really early on
    so am thankful for the merge and the 4cents here in sa that made me keep going with gpus and asics
    also jumping from coin to coin "wtih gpus" better
    than from asic to asic 😂getting f*ed after 4months of buying an asic

  • @bucketofampz
    @bucketofampz 5 місяців тому +2

    Why don't miners just find a good token and instead of buying hardware and waiting 12 months just for break even, just buy it and hold..... I've never understood that

    • @dbagdi1998
      @dbagdi1998 3 місяці тому

      If you break even you have made your money back and still have a GPU in assets so you’re still out on top.

  • @chris_mk5supra
    @chris_mk5supra 5 місяців тому +2

    only moment my rigs are on is when there is enough solar, and even with that return SUCKS

  • @bloodrush545
    @bloodrush545 5 місяців тому

    I got out 4-6 months before the merge and it was the perfect timing. I sold all my cards and most of my hardware. I still love your content and I hope things change. I'm not sure it's going to after ETH went POS. It was really a driver in the market and without that there would have to be a massive shake up in the market.

  • @FreeStateCrypto
    @FreeStateCrypto 5 місяців тому +1

    I really liked mining but sold GPUs and have made more profit in buying crypto. Even holding USDC right now pays decent interest.

  • @TheFunesk
    @TheFunesk 5 місяців тому +2

    I live in San Diego California. Electricity here is way too expensive. I put my GPU rig and Asics at my work because there is no profit if I mine at home.

    • @Steveswhelin
      @Steveswhelin 5 місяців тому +1

      Make sure the boss doesn't find out LOL

    • @mkworkgroupis1739
      @mkworkgroupis1739 5 місяців тому

      interesting, i have similar access to electric as you. do you find not having to pay for power gives you a massive edge?
      The doom in this comment section is deterring me but im hoping you can tell me some good news.

  • @SquidMining
    @SquidMining 5 місяців тому +3

    Tbh it's new people coming in, thinking everything will moon over night and make them millionaires. That's down to BTC ETF's causing an ATH early. This is just the very beginning of the Bullrun. Basically this is 2016/2020 when the market started to flip. The 4 year cycle is alive and well. We'll see more movement as time goes on but we still have 6 months to a year before massive market movements.

  • @sixtyinsix
    @sixtyinsix 5 місяців тому +8

    Red Fox Crypto posted a video with similar thoughts about the middle of May.
    This was my response:
    "Software technology is only starting to catch up with the new needs/reality of gpu mining.
    Automatic switching of what your rig is mining based on coin price tracking and swapping are still in my opinion too new and not "dialed in" yet (think unminable etc). This will improve over time hopefully.
    My personal current residential theory is:
    1. Use your hardware the most during the winter season where heat is necessary, pull them back/shut them down in the summer (space heater theory).
    2. HODL coins, doubtful daily "money printing" is coming back.
    2.a. If you have true logical factual belief in a coins value rising over time and you loose only a few cents a day to mine it, consider mining that one coin. Never forget the fees you circumvent by mining directly. Remember your monthly electrical expenditure is your Dollar Cost Average and you can control that.
    Good Luck all, hope this helps!"

  • @MrFryin
    @MrFryin 5 місяців тому +1

    I like the way SOAT explained it in one of his videos. I'm paraphrasing but he said something along the lines of ''If you are a new early coin CPU/GPU miner, you are there to provide liquidity, provide the coin for those who want to just buy it. After that the coin either finds it's legs and starts running or dies. Just don't get caught holding a full bag that's worth 0$.''

  • @trousersnake1486
    @trousersnake1486 5 місяців тому +1

    I'm more a cpu miner but I do have 8 arc 750's gpu mining. This is the time to work. When everyone is getting out and feeling down. I mine projects I believe in and not just profit but the gpus mine and pay out in different t coin to stake for yeild. Not getting rich this way but I have skin in the game.

  • @Sixpack32a
    @Sixpack32a 5 місяців тому +1

    I closed all of my AMDs cards, I was 300 CAD per month under. No longer make sense to mine and I have around 8 cents USD kw/h. And to me the spec mining is almost like gambling: no one knows if the coin we hold will go up or to 0. At least I have 5 CPUs and see how thing goes (those are the kinds we can speck mines in my opinion). But look at zephyr at 3.20 lol. But at least the CPUs are not drawing thousands of watts.

  • @chefsas80
    @chefsas80 5 місяців тому

    It is really sad the folks that fomo into things at the wrong time and get rekt. All we can do is try and make sound decisions and not commit to anything we aren't OK with losing 100%.

  • @MorbidXTC
    @MorbidXTC 5 місяців тому +1

    I don't have gpus up and going.. sadly... But, I think miners across the board that have hodled, will be feeling better come August -september time frame or starting to anyway.... I had to choose between my couple Asics or my gpus ... Based on my electric I had to go with my Asics, get more for my cost. I do hope to get some up and going again and buy more gpus

  • @IsraelSocial
    @IsraelSocial 5 місяців тому +1

    Two years of wasting my time, on 2023 I yield 0,20 dynex per week, know I'm making almost 40 dynex, and I was yield 15 kaspas peer keek now my ks0 pro make a lot so fairly enough I can confirm I waste all my time back on 23! My only true bope was kaspa, but too bad wasn't asic resistant 😢

  • @TotaleCryptoMining
    @TotaleCryptoMining 5 місяців тому

    It’s so much different this cycle, as you pointed it. Without the emissions and profitability of ETH it has been a struggle for gpu miners. If power rates were not so outrageous and the world economy were not in the dumps I think it would still be “robust” despite the loss of ETH. I hope something does come along to take eth’s place one day, but I have my doubts

  • @alexandreclemente6390
    @alexandreclemente6390 5 місяців тому +2

    Btw Im wondering, do my american friends pay a vat like tax on their electric bill?
    Portugal charges a 23% vat after hitting 100kw+
    Been mining usualy under 0,10€ but this month might hit 0,11€+.

  • @abitw210
    @abitw210 5 місяців тому +2

    i still do not understand why are you not mining on PV panels which is really cheap right now, evem for 600w , then do it on off-grid and you have 12 hours free electricity

    • @masklessninja
      @masklessninja 5 місяців тому +1

      You don’t realize how many panels he’d need. Thousands….

    • @عمرنايف-ت9ي
      @عمرنايف-ت9ي 4 місяці тому

      I have free electric due to Solar panels. I have only 4 giving me 1200w
      Totally cost of 400$ and yes free morning electric

  • @Iamspeedhunter
    @Iamspeedhunter 5 місяців тому

    Increased energy prices, and number of new people mining thus increasing difficulty has kept the profitability low.

  • @AlephiumSavant
    @AlephiumSavant 5 місяців тому +2

    seems that gpu miners have paper hands and destroy every pow project by selling off before they can accumulate and grow

  • @radicalgreek99
    @radicalgreek99 5 місяців тому

    It's difficult for many. The problems are with overseas governments buying up land and building massive mine facilities.

  • @YASSERTIC
    @YASSERTIC 5 місяців тому +1

    im from algeria my electricity price is 0.02 but the mining is illegal , i wish it becomes legal red panda i will biuld a big farm

  • @freestyle711
    @freestyle711 5 місяців тому

    Luv ya RPN, but I’ve mined over 45 different tokens since the Ethereum merge. Kaspa and Alephium did quite well for a bit, if you mined and held, but if I would have held those other 43, they are way down and I would be way down too. And Alephium has come down a lot from its top too. It’s just not gonna work out good if you mine and hold, 2 out of 45 ain’t gonna cut it. We need profit to expand, we can’t just keep supporting the network with our 9-5 money, that’s the same thing the institutions do to us.

  • @SmashTheLikeBros
    @SmashTheLikeBros 5 місяців тому

    GPU mining has changed in an overall direction of how you invest the coins you mine . To just hold and pray it goes up is foolish . Must be more than a plug and hold miner … 😎👍

  • @mangaldas4659
    @mangaldas4659 5 місяців тому

    Revux's impact on payment could be revolutionary. Glad to be in early!

  • @rocksteady8232
    @rocksteady8232 5 місяців тому +2

    @RPM how u are not multimilionare with KASPA alone???????????????????????????????????? bro u mined it from start, u must have at lkest 2-3 milion $ just in KAS

  • @bojanzex
    @bojanzex 5 місяців тому +2

    If tere will be GPU shortage I will sell all GPUs , sell all crypto and run away from this... I am tired of all of this sh.t. As you say THIS IS SAD REALITY!

    • @jugovic3511
      @jugovic3511 5 місяців тому

      Od dakle si?

    • @bojanzex
      @bojanzex 5 місяців тому

      @@jugovic3511 pa iz Srbije, Knjaževac.

    • @jugovic3511
      @jugovic3511 5 місяців тому +3

      @@bojanzex za srcu pa kod tebe jevtina struja. 😉

    • @metal_mo
      @metal_mo 5 місяців тому

      better sell your GPUs now while they are still relevant, before the 50 series launches.

  • @sniperpronerfmods9811
    @sniperpronerfmods9811 5 місяців тому

    Rpm speaks for the people!

  • @omersmajli1308
    @omersmajli1308 5 місяців тому +1

    Mining is like having a overvalued startup you need to try and keep burning cash tillthere is a break even and than maybe a when a another pump we are OK I think
    but this a buissnes as such very buissnes comes with its risks

  • @cracklingice
    @cracklingice 5 місяців тому

    The problem is that we can't mine the only coin that matters with GPUs, BTC. So we mine whatever gets us the most BTC.

  • @mrdaniel8335
    @mrdaniel8335 5 місяців тому

    Sold my last 1660 super today. For 90 bucks. It was fun, but it's over.😢

  • @Miner_001
    @Miner_001 5 місяців тому

    Yes too much work and very low rewards making nothing ...

  • @mihaimatache
    @mihaimatache 5 місяців тому

    The sad reality is the gpu mining is gone after the ethereum merge. Even if we have free electricity it doesn't worth gpu mining. ethereum mining was the best, was room for everyone to mine. Until a new Ethereum coin appears gpu mining is in vane

    • @mkworkgroupis1739
      @mkworkgroupis1739 5 місяців тому

      how do you conclue that evenw ith free electricy no profit can be made.
      in my novice and rough guess a 1000 watt pc would cost about £6 or$7.50 per day to run. if you didnt have to pay that?......

  • @fugitive88888
    @fugitive88888 5 місяців тому

    These were great times

  • @AliyaKhan-zo8vs
    @AliyaKhan-zo8vs 5 місяців тому

    Revux's team is top-notch. Expecting big developments soon!

  • @timl2665
    @timl2665 5 місяців тому

    I just got commercial electric rates. At around 7.5 cents. I can't complain. lol

  • @mrpeaceful1
    @mrpeaceful1 5 місяців тому +1

    just a bunch of people thinking... i dont deserve it.
    but they dont got the balls to even try it.
    then hate me because im doing better like...
    .. up down i never changed.
    i was born broke got money and stayed exactly the same way eating peanut butter and jelly sandwiches with the same sneakers from 2020 like...
    and all deez mfs jelly over some dog coins. wow
    and... i try to get them there but they wont even download a app and if they did come up off some bread they would blow it instantly..
    mind frame thats why i deserve this ish. all in or nothing.
    (its built off trust)
    trust the code..
    like.. give me a break god.
    on god...

  • @SandeepKumar-wn2mg
    @SandeepKumar-wn2mg 5 місяців тому

    Been tracking Revux's development. Impressed with the progress!

  • @Hakimfarhat
    @Hakimfarhat 5 місяців тому +1

    Gpu is done since the merge guys the rest is bullshit
    Now either you mine BTC KAS ALPH

  • @DashingffKumar
    @DashingffKumar 5 місяців тому

    Revux's whitepaper blew me away. RVX is the future of crypto!

  • @HeinekenLasse
    @HeinekenLasse 5 місяців тому

    Sold all my cards. Best thing I did. Copium is over.

  • @KTMLaranjinha
    @KTMLaranjinha 5 місяців тому +2

    Pyrin will up up up👍

    • @slayer21
      @slayer21 5 місяців тому +1

      Hopefully mining iron + pyi on 10 3070s

    • @excess.subiefl0w
      @excess.subiefl0w 5 місяців тому +1

      I stupidly sold all my pyrin too early at 8 cents

    • @thingamajig1269
      @thingamajig1269 5 місяців тому +2

      Lets hope, if they follow through with smart contracts I can see another pump happening.

  • @RASHTDAlRASHTDAl
    @RASHTDAlRASHTDAl 5 місяців тому

    Revux's roadmap looks promising. Exciting times ahead!

  • @billlam7756
    @billlam7756 5 місяців тому

    It's a good thing people are shutting off anyway

  • @abhishekgaming-ds9hi
    @abhishekgaming-ds9hi 5 місяців тому

    Revux's low presale price is a steal. Time to load up!

  • @intownsolarhomesteading476
    @intownsolarhomesteading476 5 місяців тому +4

    economy sucks, cost of living, everyone is broke, no govt stimulus this bull market, i am doubtfull its going to be even close to the previous bull run. I am building a gpu rig but power is a real big deal with profits down.

    • @mkworkgroupis1739
      @mkworkgroupis1739 5 місяців тому

      hi, what percentage of your power spent do you get. ie if it cost $50 per week to keep the card running you need to mine over $50 dollars of alt, i know its crashed recently but what's the return on $50 of electric since then

    • @intownsolarhomesteading476
      @intownsolarhomesteading476 5 місяців тому

      @mkworkgroupis1739 I will use solar fully to power it if possible. In the summer I can power it with solar but when summer is over, coin prices will dictate if I even run it on grid.

  • @jockmcminer_uk6629
    @jockmcminer_uk6629 5 місяців тому +2

    Real

  • @BiyaheNiJulz
    @BiyaheNiJulz 5 місяців тому

    Thsts reality this days
    Electric bill is expensive

  • @babaluparjapati575
    @babaluparjapati575 5 місяців тому

    In the next bull run, keep an eye on DOT, VRA, and SOL, but don't overlook Revux's RVX

  • @BraulyoGaming
    @BraulyoGaming 5 місяців тому

    Im planning to mine crypto, can you make a play list for a novice in mining?

    • @mr.tipper3257
      @mr.tipper3257 5 місяців тому +2

      You would be better off dropping 1000 Dollars on BTC and waiting for it to hit 100k should be a little 50k you made of the inflation of it

    • @mr.tipper3257
      @mr.tipper3257 5 місяців тому +2

      Or just mine dodgecoin big corps got 200plus of the best mining machines running 24hours a day and for you to solo mine would cost you more than you would gain or try amd join a pool for mining but most people want 10 machines plus to join

    • @mkworkgroupis1739
      @mkworkgroupis1739 5 місяців тому

      @@mr.tipper3257 my electric is free at work and boss doesn't mind, do you think it would be worth it in that situation

  • @TheCryptoMiner
    @TheCryptoMiner 5 місяців тому

    Dang now i feel even more deprest😂

  • @Broke_miner
    @Broke_miner 5 місяців тому

    How do we develop a coin that is as big as ethereum?

  • @YoungBloodyBlud
    @YoungBloodyBlud 5 місяців тому

    AI adoption in future my increase the demand for compure power making gpu renting a viable optionfor the gpu hoarders

  • @brianmontero1593
    @brianmontero1593 5 місяців тому

    eth was always a joke. look at vitalik, where the hell is he, ....spending all his millions of eth.

  • @coolrip007
    @coolrip007 5 місяців тому

    PLZ PLZ do LEAVE GPU mining! SO we that are left can provide for our families.

  • @amplifiergamingBTC
    @amplifiergamingBTC 5 місяців тому

    Yes get off gpu mining. Let me build my bags

  • @amostwanted
    @amostwanted 5 місяців тому

    i have 40cent !

  • @Theworldisbig1
    @Theworldisbig1 5 місяців тому

    California .19 cent oh hell no I wish 😂

  • @W_luX
    @W_luX 5 місяців тому

    👍

  • @_oriTech_
    @_oriTech_ 5 місяців тому

    Hey. sorry that i came in with some negative vibes, but i rly hope that something like ether will not happen again. im a systembuilder with focus on workstation and gaming pcs in that time this whole ether thing cause so much damage, that i need to take a credit from a bank and hope i will survive this. and now im sitting here paid the last installment and struggle with generel higher hardware prices. i know u guys love this, put something together and will the work done. i understand that but i hope u guys can understand that this kind of "money making" is a very destructive way. so no offend, but i hope this mining thing will come to an end. i know a lot tech guys who not survived that shit, cause they already had a credit and cant pay the bills. this mining thing destroyed literaly families just for the sake of "they build from the scratch a business to a point they can hire employees and give people a perspective. i know this is something u guys are not interessted in but i hope u will have to take in count this perspective. kind regards

  • @lolPaperclip
    @lolPaperclip 5 місяців тому

    Have you guys heard of phone mining?

  • @abhishekrajput2924
    @abhishekrajput2924 5 місяців тому +1

    Gpu mining sucks😢

  • @dontsupportrats4089
    @dontsupportrats4089 5 місяців тому

    I live in WA. I'm paying .064. Must be above .1 on the coast. chart says average is .096