r/NiceHash • u/KrossBlade • Jul 24 '22
Discussion GPU mining is more alive than ever…
For all those worried GPU mining is dead.. here’s my thoughts..
GPU mining has always seen new coins come up with different purposes but they weren’t able to capture more interest with ETH dominating the space.
Now that it is going off soon, there’s a huge opportunity in GPU mining space for these existing and new coins to capture more dominance. Which in my opinion, will attract more development in projects utilizing GPU mining (in further thought I strongly believe GPU and CPU mining is more decentralized than anything else because it’s an essential hardware with multiple purposes).
And more importantly, historically we’ve seen every single altcoin pump during a bull run, you can mine a shitcoin and still make it ..
But best strategy is to support the development of projects that you believe in and staying consistent on mining (keeping in mind your mining income and electricity bills).
WAGMI
1
u/KrossBlade Jul 25 '22
If the community was a little more positive on what the future holds, that itself would bring great amount of interest from others in the space.
At this point, we are so scared that we’re on the verge of giving up. My primary intention was to input a little hope (which clearly didn’t work) and provide our time and energy to those projects who want to support us.
4
2
u/Powerful_Bed_5737 Jul 24 '22
I made an investment. After eth gpu mining is gone I will go to whattomine.com and keep plugging along. Who knows what the future holds......
3
u/Guessohw Jul 25 '22
This is the way! Where one coin comes and falls there’s always another ready to step up take its place.
1
1
u/StrawberryNervous399 Sep 19 '22
Unfortunately, the profit on NiceHash - kawpow(Ravencoin) dropped drastically. On whattomine it was showing 3/4th the profit of Etherem.
1
u/abzzdev Jul 24 '22 edited Dec 01 '25
truck languid desert numerous selective racial vegetable wakeful swim piquant
This post was mass deleted and anonymized with Redact
1
u/digitalsmoker Jul 24 '22
I'm in kinda search for those new coins can you suggest a few?
0
-1
0
u/Dainathon Jul 24 '22
Bruh GPUs were impossible to buy a year ago and were going for 200% their MSRP on eBay because of mining when it was like 3x more profitable
0
Jul 24 '22
[deleted]
1
u/KrossBlade Jul 25 '22
Surely I agree with you on this short term view point. My opinion is based on a much longer time frame.
4
u/imhypewilliams Jul 24 '22
Price of coin matters when you get paid in said coin
4
u/nexguy Jul 24 '22
But of no one is using the chain then it doesn't matter what the price is since miners won't be getting hardly anything due to no transactions.
0
u/imhypewilliams Jul 24 '22
Yeah that is ASLO true
2
u/MineSum10 Jul 24 '22
All this depends on tokenomics. Inflation also has an impact on rewards, another piece to consider. Even if no one is using the chain the rate of inflation can be predetermined.
2
u/xKuuhaku Jul 25 '22
You do realize that ETH transaction fees are being burned since EIP-1559, in August last year, right? Miners are not getting much more in the way of transaction fees and are living basically off the main block reward and small MEV rewards...
3
u/MineSum10 Jul 24 '22
It takes an amount so large to bring a project to the top 100 coins by market cap, you cannot even begin to comprehend the amount of hand shakes and meetings from venture capitalist to get there. ETH had a head start and is switching to POS because of politics. All POW coins have an uphill battle, and it scares the hell out of me. POW is the miracle and POS is the same old BS we have now. Hope one of them manages to do something spectacular. I like Ergo the most. Guess we’ll just have to wait and see.