The math & scenarios of GPU Mining post Ethereum Merge

[@adlorin]

TLDR: Company scares you into exiting, then offers to buy your equipment.

[@gpuminer206]

Bingo

[@rekt6408]

A 10x on crypto would be so easy right now. Their "Math" is a consideration but my math shows highly probably 20x. I'll find out if it's Hopeium or Intelligence when I'm living in a cardboard box or a nice house. What do I have to be afraid of? Restarting right where I was but this time with experience and poo-loads of computer parts? If I sell now or I try and fail I'm its the same. But the ONLY chance I have for succeeding is if I try. "Ah.... MO HASHPOWA BAYBEEE!"

[@v-hashhelping4400]

@@rekt6408 Some PoW projects can pump 10x in a bull market conditions. Hidden gems that never stopped developing.

[@locke3817]

It's almost funny listening to this after yesterday's Hut8 "we have the Ferrari of GPU". Seems like a campaign of fud to scare the small miner away. Then the ending that they will "help" us exit the market is so funny... They are willing to buy ou equipement to loose money in our place apparently... I'll be mining on my dudes

[@Stillsphere7735]

Yup. It was very well written and thought out, but it makes you wonder whether it's coming from their desire to profit off our FUD, or if it's sincere..

[@caperminer1906]

So they write this massive article talking about how GPU mining is dead and may never come back, yet they finish it off with a massive mining farm offering to buy all of the mining hardware out there. That’s extremely suspicious and definitely doesn’t make me wanna sell my hardware

[@mikeem7851]

Exactly, a little suspect there.

[@mdaria510]

If you read the whole last paragraph after he stopped short, it clearly says we're buying them to resell to gamers and not to mine with them. This is not our preferred outcome and its not great for our business long term either. But the math is what it is, whether we like it or not.

[@mikeem7851]

@@mdaria510 Thanks for pointing that out...

[@Ray-uc8ij]

@@mdaria510 Well if the gpu mining market is going down as bad as they say and they buy a whole farm worth of GPUs than who are they gonna sell them to. Is their enough gamers out there to absorb so many GPUs. I think not. Their business strategy could lose them a lot of money if they just sit on a pile of GPUs that their is no longer a market for.

[@jasonriddell]

@@Ray-uc8ij I have a HARD time believing there are ENOUGH GAMERS to buy farms worth of GPUs EX now that "MSRP" is a thing again and the NEXT GEN cards are around the corner also there is NO LINK as to where to BUY a GPU/HARDWARE from them - assume they sell under a different brand

[@SebsFinTechChannel]

Similar calculations to what I've done in my videos previously, thanks for covering this RPM. Of course they've missed a few things in their math though. 🤓 For example, they skipped TONCOIN which alone adds another almost $400,000 of daily issuance, close to matching ETC. They've only got 20 GPU mineable coins, in my calculations I got to 35 coins and there were still more I could have added. They also kind of just brushed off the huge factor of ASICs. But in the end, you can do all the math in the world, but reality is miners aren't going to mine at a loss. All the hashrate that needs to drop off will drop off, at least to the point where mining becomes profitable again if you have good electric rate and efficient rigs. Just my 2 cents.

[@caperminer1906]

I enjoy you giving us your two cents… or as miners will call it in a few months “a days revenue”

[@RedPandaMining]

@Sebs Fintech Channel 10000000% brother! toncoin ends pow contract this summer but thats besides the point!

[@sainijas5213]

ton coin Mining is ending up in 10 days

[@Imkishore_12]

There is definitely a lot of fud material in this article

[@bigguix]

@@sainijas5213 exactly

[@tylergarrambone716]

Ive been mining for 6 years, been through the ups and downs. Always ended up profiting. Something that no one is expecting will happen, like always. Only question is, will that be in 2022? 2023? 2024? 2025? Patience and adaptability are key

[@RedPandaMining]

100000%

[@tinytim71301]

Adapt, improvise, overcome.

[@stevedevice1866]

Same here man, when everyone dumped their 570s, I bought em cheap, mined on em for 8 months then sold them for 4x during the gpu shortage. Nobody has a crystal ball.

[@tylergarrambone716]

@@stevedevice1866 yeah I remember buying 4x 570s and 2x 580s for an average of $72 each. $72! The $0.25/day each were making turned into much more

[@Superb_Legend]

All this doesn't take into account that eth wasn't still around. This theory article isn't just saying crypto dead because the profits and price down like every other time.

[@makoshark2001]

I actually see something that seems rather sinister with this post. The "Mining is absolutely dead, so we can buy all your GPU's to help you get out" at the end seems really suspicious to me.

[@adrianadestino6420]

Investment is your only way up to financial freedom.

[@susanlanez6918]

Oh, I've heard of him but I didn't take it seriously until I tried out with $ 650 and made good profits within some days.

[@adrianadestino6420]

[@mahdiyehbahmani-yt7um]

Thanks for this useful information, i was thinking of investing in bitcoin. Thanks for sharing such news and will surely be in touch with him..

[@larryadolf6992]

Best signal provider in the market. Knowledgeable, level headed no loss like some other traders who recently jumped on the bandwagon

[@enzymebp]

This company looks super shady. Their whole business is about buying mining hardware, and this article is to scare people into selling. They also claim they are BBB accredited, but the BBB page says otherwise "THIS BUSINESS IS NOT BBB ACCREDITED".

[@zingbat4]

Rpm should have called this out as what it is, some shady company trying to fud you into selling them your hardware.

[@sillychannel100]

I've been mining since 2016 so I've learned to not pay attention to the "calculators". The reason is during the times when, on a daily basis, it looked like I was losing money bad, those times ended up being some of my most profitable in hindsite. I remember times when I was bringing in 1 ETH every 5 days but at the time the calculators told me I was barely breaking even. Thankfully I'm in a situation where I've never had to sell my crypto to pay for electricity so I'll keep mining, ignore the calculators and focus on yeild for the projects I believe in.

[@rawwhide]

This... Some other PoW coin will appreciate in value over time.

[@arifmuhammad434]

@Johnny Jones ur experience is not really relevant with the problm we'r goin to have in near future, which part of Unmineable u dont understand ___>.>,

[@Superb_Legend]

Whole-time eth has been mineable.

[@arifmuhammad434]

@@Superb_Legend and it comes to an end

[@developeralgo305]

While the article is well researched and its actually going to be very tough for most GPU miners after ETH Merge. There are a lot of assumptions. 1. GPU hashpower will go offline and Miners will not pivot and adapt 2. Other Altcoins with POW consensus mechanism will also collapse after Merge and the list of assumptions go on and on. What prevents a group of developers ( who believe in an improved efficient POW) from Forking Ethereum Code base , Changing the POW consensus mechanism to an Efficient POW by replacing the " useless Mathematical Puzzle solving " in POW with a "Mathematical Optimization Problem" , it would use over 7X less energy per Coin. if those developers can retain the Dapps and DeFI currently running on ETH platform on the new improved platform then GPU miners will survive . To add to my thoughts, this is all a case of bitpro and their partners wanting to buy GPUs/ASICs at the lowest point/Price and then wait for the upswing to put them to work. This is just the way Capitalism plus businesses work. You capitalize on the fears and opportunity to reap the rewards later.

[@gmenu8032]

I don't think some random group of developers could come out of the blue with a better algorithm for mining. Even without this forking ethereum would just result in another ETC like coin without the support from the ETH devs, so why would Dapps and DeFi move?

[@danwebb1170]

They right now can ease up on ETH and allow miners to mine at some 100x faster processing transactions , this POS is stealing miners money - thinking you can speed POW up - well they can do that now

[@jonathancaldwell517]

@@danwebb1170 Yea, it really feels a bit like another shift of power based on consolidation of profit, where the "haves" close and lock the door behind them on the "have nots", or to put it another way a classic rich vs. poor, where the rich take charge because they "own" so much. I'm very conservative in my political tendency, but part of my attraction to crypto in the first place was the shift to a truly open mark place where all parties can contribute and profit free from top down control. I think the comment about "like herding cats" is telling, as is the lack of attention to an integration of crypto governance (in particular a technology based way to include "miners", or perhaps just "node operators" in the process"). We really have no way to fight back that doesn't backfire. In a perfect world there are lots of suggestions we could make and contribute, such as having a slow migration or a partial PoS and partial PoW backend (further decentralizing between stakes and miners alike) As for other possible alternatives, I think there is a very real chance this consolidation of power will backfire. I don't think, barring a catastrophic issue on "merge day", this will happen quickly. If PoS as a technology is stable, and all signs point that direction, then it may come in the form of something equivalent to a 51% attack, but legitimized in the form of a "collective decision" among PoS nodes/ETH stakers. Even then, I don't how much everyone will care if they roll back or modify the blockchain to "Correct" something, almost everyone put up with it @ DAO (i.e. a smart contract is reversed because someone doesn't like that the code was "wrong", which is what anyone who just doesn't like the outcome can say and possible force with consolidation of power)... I.e. picture a "smart contract" written by wealthy people, used in a way they don't intend to make profit for income seekers. It's hard for me to say exactly what the scenario would be, only that it won't be code but again people making a decision (like the whole FIAT/Banking system does today). but I digress, if part of what drives the value is "true decentralization free of controllers", then perhaps there will be a gradual shift to alt coins? I can't picture that happening because it assumes so much about human psychology, motives, and not to mention technical hurdles. Either way I can't picture it happening quick. As for me? I'm splitting my attention between mining and the tech running on blockchain as much as possible (including trading). I can and will afford to run my rigs at a "loss" or "out of my own pocket", at least for a while. I may be one of those that falls off in the slow bleed, but I think I've positioned myself to run w/o profit for a few years. It may be that I find another use for the GPUs, however selling for profit (or to recoup loss) isn't on my lost. I've always thought of my investment as a loss up front, keeping discussions on ROI to a minimum, mostly as a way to evaluate things to myself. One other note. For those that follow trading, and believe in the 4yr cycle, there will be a bottom to this bleed on value that will correct itself over the next couple years (that's good). However, there is definitely consolidation into BTC due to mostly economic factors beyond our control, moving value away from alt coins and to BTC/ETH. One thing I personally wouldn't be sad to see happen. A shift from ETH to ETC, because ETC stuck to their principles when it mattered. This belief in the tech is, like I said before, what attracted me to crypto to begin with. Sorry for such a long post. :-) I don't post often and when I do I tend to over-do it. Cheers and keep your chin up!

[@danwebb1170]

@@jonathancaldwell517 they missing way bigger business Opp, wow they running business that MAKES people money who mine - now to sell to all of them = Everything - they are missing trillions with what I know ROFL

[@TheNovus7]

well, with my two small rigs i will keep mining, see what happens and hope for the best while being prepared for the worst edit: this post seems like an ad to scare miners(not saying that they are lying) to get gpus, but why get gpus if they dont see any future in mining, seems a little skechy

[@RedPandaMining]

Same friend! time will tell then we can come back to this blog post if they were correct or not

[@volvo09]

I'm just starting thos video, but I see "sell used cryptocurrency mining hardware" at the top of the page, so I'm assuming they are the ones who want to buy the hardware... Hmmmmmm, why would they want this "useless" hardware? Do they want to sell them to gamers? I don't think so....

[@raulesparza3317]

@@volvo09 I was thinking the same thing. Only thing that comes to mind is services like RNDR

[@thatguyfishingben4794]

Check for yourself and Do the math. Probability will go down. But it's the perfect time to build up the wallets. Hashrate will fall off of coins cause profitability will be down. Lower hashrate. Means bigger yields. If the Cycle comes back around again then you made bank. If it doesnt then your just out. Gamble at your own risk. I'll play ball and I'm keeping my whole farm going. Hodl will be what makes you the money now. Problem is how do you predict what is gonna rise in the next cycle?

[@AAjax]

@@volvo09 Whales are buying gear. Time to do the same.

[@aesquaztv6217]

In my opinion the future is completely unpredictable, obviously it will take some time for things to get back on track but I think another crypto will take ETH's place and eventually be profitable. I am less optimistic for the future of ETH because it is the miners who, by using energy, give it value apart from speculation, the volumes will decrease and if all the ETH currently blocked are unlocked at the same time, it could be catastrophic.

[@bigguix]

I read that they can't all unlock at the same time, there is a limit per day or something

[@andrikurniawan531]

So why vitalik merge it if will lose its value? As far as i know, Eth is what crypto developer mostly use, the value come from that not from miner alone

[@vashstampede4878]

@@andrikurniawan531 miners give it most of its value. By the time this bear market is over and BTC begins to recover, ETH likely won't follow suit

[@ramirodamian9111]

@@andrikurniawan531 because russian maffia don't like boy's lies when doing bussiness !

[@bitcoinlife9227]

​@@andrikurniawan531 gss fee. they can do everything easy. just look at terra, now there is terra classic.

[@Bart230]

There's lots of things not properly accounted for in almost all calculations I've seen. Using the "average" to pretend there's only 3080s on the network is flawed, as there are tons of GPUs with lower efficiency mining who will be turned off way before 3070s. All the currently GPU minable coins are subject to a large risk of 51% attacks, due to their lack of miner market share, and even the best project in the world will be worth little without security, so adding security to the network and removing much of the potential attack power from the market, will give these projects more security, and a reason to grow in value. Talking about day 1 profits is also pointless. And they don't touch on the fact that we lost BTC to ASICs with nowhere to go, yet here we are.

[@libertyordeath6280]

When asics took over btc a lot of people were already mining ltc. There was a descent period of time when you made just as much money gpu mining ltc as you did btc. Also the amount of gpus mining was nothing compared to what we have now.

[@charlieh6807]

End of the article: However, we will buy all of your gpus :)

[@en4ble773]

@@charlieh6807 exactly sounds like scam and of course RPM won't speak out - politically correct

[@Bart230]

@@libertyordeath6280 The crypto market in general was also nothing compared to now. And you can already mine almost as much value in other coins now, as in ETH. And I doubt LTC had the same daily Fiat value in daily issuance as BTC.

[@libertyordeath6280]

@@Bart230 the daily issuance in fiat value was extremely low back then. I only know that I was mining btc with gpus and switched to ltc and was making pretty much the same. I switched a lot just to make a few cents more depending on the day. Eventually ltc took over and was always more profitable.

[@Lancelotopus]

Article written by Bitpro and at the end of it, they offer to buy all the gpu mining rigs..... Interesting...

[@guyb7995]

I didn't disagree with what they were saying, right up until the point when they then say they will buy out your rigs. You have to question, why would they do that if profitability is going to be as low as they say. They don't seem to be following their own advise.

[@oa4738]

They never do

[@RANDOMdevyn]

Exactly. Very shady

[@mdaria510]

We aren't going to mine with them, we're reselling them to gamers. We used to have thousands of GPUs mining, but we've sold them all because no miner is safe from what's coming. So we very much have been following our own advice. That's always been the best thing about GPU mining vs. ASIC mining - at the end of the day, the GPUs still have value to gamers. We hope something derails the merge so this math becomes irrelevant, but every day that goes by that seems less and less likely.

[@TPSMiner]

This was a very interesting article, thank you for sharing. I have not done any research on Bitpro, but it seems rather FUDish and disingenuous for them to paint a doom and gloom picture of the future of GPU mining and then conclude the article by offering to buy your farm. I'm not saying that the article is wrong, per se, I just didn't like how they are trying to capitalize on fear and uncertainty. Personally, I am going to continue mining post merge, regardless. People may mock this decision and tell me I'm foolish, but I simply love GPU mining that much! If GPU mining is going to crash and burn, I guess I'll be going out in a blaze of glory!

[@RedPandaMining]

100000000% with you buddy!!

[@boxbawks]

Agreed. I bought my gpus to be a long term investment, and cycles prove that even if we have to shut off for a while, eventually there will be a profitable time again. Not to mention that there was a buyout a few years ago with gpus, and the people that held on (even if not in use) were the ones that stepped back into profits the fastest.

[@tser8629]

time for you bums to find a real job instead of driving gpu prices up for us gamers and professional designers etc...

[@mutlubasdas]

Yeah.. the last part with I'm buying rigs made the whole article bs in my eyes even tho he may have good points. geeeez...

[@donmeeega]

THIS. This article is very misleading. “GPU mining is doomed! But we will buy all your GPUs”

[@wilfredstewart8138]

Looks like it will be rough. I am glad you will be staying in the space RPM. I like your content, point of view and integrity. I am only a hobbyist miner so this will not change things for me greatly but i could see where there will be some hard times ahead. Thank you for the informative video sir. Carry on the good fight!

[@dotJata]

The fact that the article ends with an ad saying don't worry we'll buy all your GPUs is pretty suspect.

[@mreggena]

“Hey mining is going to hell!” A few paragraphs later… “Contact us to sell your rigs”

[@tarryalmomani8703]

I hope That POS will be done in months, tired of waiting and speculating. Deep inside I also hope that ETH will drop to $200 after the merge and yes I know that sounds evil but they have no consideration what so ever for GPU miners and to the fact that GPU miners played a huge rule to the success of ETH. My opinion is we might have to shut our rigs down for a while but eventually we will fire them up at one stage, however I will keep mining even with ONE GPU to support my favourite network.

[@TravisFabel]

I hope that everyone gets excited about it being proof of stake, and the price spikes up unreasonably high.... So I can dump my ETH. And then it can drop down to zero for all I care.

[@yenayenayejones421]

I’d be happy if switched tomorrow. Honestly just sick of hearing about it year after year

[@Recon777x]

I also hope ETH crashes and burns for this. Though the problem with shutting rigs down "for a while" is that by the time we can fire them back up, they will be a generation too old. Unless people think the current gen of GPU is going to be the last one? New GPUs have been coming out very reliably for a long time now. Will all our 3080's feel like 1080's in 2 or 3 years?

[@juniorpresezniak8266]

What eth is today was build by miners. Would be cool if we could switch to another coin before the merge, and see how good the eth Devs are to keep the network safe until the merge.

[@marlberg2963]

$200? More like $20-$30

[@kaytrim]

The author of this article is just working to make BitPro money. Yes things will be very thin for GPU mining but for those that can continue will make bank in the long haul. I am just getting started and will mine paying for my electric out-of-pocket. I believe in crypto. It will bounce back as per the bitcoin supercycle. There is also a lot more institutional investment in crypto now which may break that cycle. I intend to be one of the bulls when we are let loose again.

[@raulurangarodriguez]

I'll stick to mining for a while, it has been a really nice hobby/side hustle for the last couple of years (profitable, challenging and fun). If the merge ends everything, I already had won, I've been purchasing and distributing gpus at my place (Chihuahua in North Mexico), building rigs and gaming pc's and all thanks to this endeavor. A better me is the result of all this learning.

[@mr.1way433]

They say we won’t be anything without ETH? Well ETH won’t be crap without miners mark my words!

[@FlorinFrent]

I agree !

[@HawkCryptoTech]

Thanks!

[@RedPandaMining]

Hawk god damn it man

[@HawkCryptoTech]

@@RedPandaMining 💯💯💯

[@thevito1091]

Article doesn’t account for the interest in the alt coins to mine. This creating demand. You could see a huge pump of ravencoin or any other pow coins. Because miners will be invested in mining. For eg rvn would only need to reach around 0.80cents to absorb 50/60% of ALL of the gpu miners. So it doesn’t even need to reach that price to sustain most miners

[@RedPandaMining]

We can only hope and assume. Taking into account the difficulty and the people willing to continue to mine based on their electric cost.

[@ultimatetian]

That’s almost 30x

[@thevito1091]

@@ultimatetian raven was trading at 2 cents and within a week hit 29cents it’s absolutely possible to pump this token.

[@davedismantled]

I disagree with the article writer. Not the math, but the conclusion. ETC is 6X lower than it’s high right now, so it just has to get to a level it has already been at before. Same for RVN and other coins. Or maybe I’m just a newb miner who refuses to accept Reality…...

[@RedPandaMining]

Agreed!

[@MorudolfGames]

In my opinion moving to POS would crash ETH, imagine if most of miners suddenly decide to sell their ETH. that could cause some LUNA situation. Also this article doesn't take consideration that probably 60-70% ETH Hashrate are ASICS

[@arifmuhammad434]

@Morudolgames bro 60+% asics are valid? where did u get the source?

[@minus3dbintheteens60]

Going from ~150MH @ $100 per month to $1.60 per month, IF ETC doesn't fall in price AND IF the payout amount doesn't increase, which is impossible, makes mining completely stupid, even with free power. I use mining to heat my house, and I'd still mine at half the profitability it is now, but this is really sad, because it's nothing like 2018, it's never coming back.

[@thechilledzone5028]

We kinda all knew it was gonna be dark times after the merge. With all this doom and gloom talked about in the article, I'm still moving ahead with my plans. I've just changed from hobby to an official mining business and even though I know it will be rough from here, I'm still getting GPUs. I'm diversifying just like my stock portfolio and we all as miners need to diversify now. I'm staking multiple coins and deploying nodes as a start. Going forward it won't be about profitability but yield until there is price appreciation. If because of cost we can't run a farm, then run a rig or 2 and pay bills from pocket. We've seen dark days before guys. We must adapt and overcome. Stick with RPM and the community and we'll all get through this.

[@SuperKiller374]

Hey man. im a newbie and just started to built a mining rig to mine. what do you recommend. i should continue to built more rigs afte that. can you please also name all the ways you have diversify so i can research into. Thank you

[@HenryBabcock]

@@SuperKiller374 Dont.

[@tinytim71301]

“You gotta know when to hold ‘em, know when to fold them, no when to walk away, no when to run. You never count your money while sitting at the table…”. I “call” Bit Pro’s prediction. That is, I’ll be mining. 🤘🏼💪👍

[@RWAquariumPages]

quite an interesting video and great content. I wonder if nice hash will be able to handle the transition immediately after the merge as I'm sure many people will be using auto profit switching applications such as nice hash

[@blackmennewstyle]

Man, that article is literally a huge slap in the face of the whole mining community. The saying "United we stand, Divided we fall" has never been so true after reading that article :$ The reality is as HUMANS, we do it all the time, we often select our own selfish interest instead of the more logical global one, we did it through the pandemic and we did it also with our unique and precious planet. We f*cked up everything in the name of greed.

[@christopherusendorff3885]

We should all migrate and leave the eth ecosystem to stuffer the huge transaction times/costs and hopefully the devs won't leave us out

[@mayainverse9429]

also how are they able to do this merge thing if anyone can tell me how. don't they need 51% control of the network to do that.

[@DH22013]

This article had me until the last part "we make a buyout offer" Yeah right...

[@Steveswhelin]

I'm going with the flow. I know miners who currently mine shitcoins instead of ETH. They let the shitcoins build up into a big pile, and then sell them when/if a price Rockets up...

[@killerzx14r42]

what will happen after ethereum move to POS asic miner btc and kadena profitability will change? can someone explain pls

[@roycesadventures]

Very good article. I’m going to be optimistic and continue pushing through. Good news is I’ll only have 10 cards and never cash anything out. Keep up the great content!

[@RedPandaMining]

Im 10000% with you same strategy

[@cjrich3029]

Prior to watching this I calculated what I "thought" was my worst case scenario. Currently making about $30 per day after electric costs. If that dropped to $10 per day it would be a 12% annual ROI on my investment of $30K, still 4% above the "very" long term growth of the stock market which I think will crash soon. Not too bad unless I'm wrong & it looks like I might be. I don't need the cash right now and if I sold out right now I would lose $10K. I bought most of my GPU's during the GPU famine and paid the U.S tariff on top. I will probably continue to mine as long as I can make a profit & continue to HODL with hopes that crypto prices rise. What the hell, I may even buy cards at bargain prices during the bleak times ahead. I've never done the "smart" thing when it comes to investing. Eternal Optomist, CJ Rich

[@camronmccutcheon2842]

Same. I bought a bunch of used, old, mined on stuff to the tune of about $7,000. I am currently buying more efficient, but used, cards at good prices. I just hope that the efficiency bump helps me ROI before my shit breaks...

[@HenryBabcock]

I'm in a similar boat but really, there's a strong chance our profitability won't just drop by 2/3.. It could drop much more down to where we can't even pay electric. But like you I've been more or less banking on a big drop in profits but not a 100% drop or into the red. Still a very real chance that's what happens, sadly.

[@ozarkstacker5415]

@@HenryBabcock Are you already mining other tokens? Nothing is nearly as profitable as ETH, and most are harder on the equipment.

[@HenryBabcock]

@@ozarkstacker5415 ETH of course. I convert some to other coins.

[@SingerFam42]

I think they are going to be surprised how many miners will keep mining cause there's alot of us guys with one or two rigs and we're not built up alot so why would we not run our GPUs. This really just seems like they are trying to scare miners and keep new miners out of the ecosystem, mining isn't going to end with eth were just going to enter a new chapter we don't know what's going to happen but I don't think it's going to be the end of GPU mining and it maybe rough but that's whatever.

[@RedPandaMining]

This company definitely only deals with commercial farms

[@metaleuman]

Why would you run your GPUs at a loss? 🤦‍♂ Sorry but that's just stupid.

[@wx2833]

Speculation, is what drives price; speculative mining is a thing and has paid off historically; it is a risk; no risk = no reward.

[@SingerFam42]

@@metaleuman it's not really stupid sir if your not looking at it as all profits. There are things like supporting the network and dollar cost averaging. What is the difference in dollar cost averaging with money over a GPU. It's really playing off more then one reason, electricity cost is so small I'm only running several GPUs so to me it's no lost, it's literally change a day and if I can't handle that little lost then I probably shouldn't mine but I can handle it. I wouldn't be so ignorant on someone else's situation even if it is stupid. I imagine there is alot of crypto that has been mined and when at the time it was mined it was worth practically nothing years ago or mined at a lost if they sold.

[@metaleuman]

@@wx2833 Do you understand what mining at a loss means? It means you better off directly buying the coin and having more of it for the same cost. Mining only makes sense when it's profitable, in other words when what you are getting has more value than what you pay in electricity.

[@ronwatkins5775]

My personal opinion is that we are going to have to rely (at least in part) on price-discovery of some of the larger coins. I believe (correct me if im wrong) that ETC should have the same capabilities surrounding DE-FI as ETH, and I would hope that we see an expansion of people using that as the go-to coin. However, im open to any coin and both FLUX and ERG are 2 of my other favorites that im stacking prior to the merge in anticipation that we will see some degree of price discovery.

[@crazykkid2000]

Why would eth kill its self. It makes 0 since. Mining will never die, out of the ashes a new coin will become champion

[@darrenthelegendhubbard]

I was aware that the merge could be the end of GPU mining, but I'm a bit suspicious about an article from a company spelling out the doom and gloom then at the end say "but hey, we will buy your operations at a trade price, we will be doing you a favour mate" sounds like when you trade in a car, car works perfectly well but you know it won't last for ever and the salesman is going, "it's basically scrap mate"

[@JJc6996]

Doom and gloom then they offer to buy your hardware, how conflicting.

[@PoliticalTradesman]

Why would a company want to buy all your gpus if it was going to be next to worthless?

[@mmarianoo]

Shouldn´t we consider also de TX fee? in those calculations is only considering de blockreward, no? probably would not change the scenario anyway

[@strokerace563]

I started my gpu mining endeavor knowing that the merge was inevitable. I am now approx $6,000 invested with a 680 mh of Eth . I have enjoyed every second of the mining world ,, building my rigs watching them on my phone at work is super cool . So my thoughts is keep my day job which I happen to love and pick a couple coins and hold hoping one of them breaks loose one day . Every hobby cost money ,, golfing ,, fishing ext. So the entertainment of it all is worth to me the risk . For those who mine full time I wish you the best of luck . I’ve tried joining discord servers and trying to be a part of the community but tbh I’m highly disappointed in the support and clicks that reside . So until something comes along and sparks my interest I will be here watching these fine videos and wishing nothing but the best for all . Chins up ,, and Cheers !

[@cottsocoin6249]

So, I unfortunately agree with a lot of that article. It’s going to be ugly. Here’s my problem though. At the end of the doomsday article, they are essentially advertising that they are buying as many gpu’s as possible. Why would someone still buy a ton of graphics cards if they believe their own article? Unless I’m missing something, it seems as though the “death of gpu mining” article might have some ulterior motives behind it???

[@RedPandaMining]

I have 0 care for the company that wrote this. I was reading this just for the info they portrayed.

[@cottsocoin6249]

@@RedPandaMining I wasn’t trying to imply anything about you. It was solely meant to be towards the company. Sorry if it came off as something towards you.

[@RedPandaMining]

@@cottsocoin6249 not at all. Everyone can come up with their own conclusions.

[@mdaria510]

In the last paragraph (that he didn't read) we went out of our way to make it very clear that our goal here is to resell them to gamers as fast as we can, not to mine with them. We can't escape this math either. One of the great things about GPU mining is that the hardware always has value to gamers no matter how hard it is out there for miners. We mostly work with larger miners with dozens or hundreds of GPUs to sell where it's not practical for them to resell them one by one. Believe it or not, this has been a struggle for us too - it's really challenging to be a reseller when prices are dropping 5% a week.

[@miningquest]

Question: How much is the percentage for Miners payouts a day compared to other transactions? 6000 Blocks per day, according to me, the transactions caused by Miners should still count, because we also pay transaction fees. If we move those transactions to another Coin, that coin will have more transactions then the daily blocks should increase, lets check that math. Thanks

[@robertbarnes4887]

RPM please read my questions because i think i might have a point. My question is if etheruium moves to proof of stake then is proof of stake coins going to be looked at as a security not a currency at that point is it not like how blockfi got in trouble for interest payments is the SEC going to crack down on proof of stake coins and fine there projects? Will this cause etheruium to go back to proof of work and could they ever go back to it once the merge happens?

[@ahmedsougaier1718]

ETH network hash is 1.02 PH/s & ETC network hash is 24.72 TH/s and that is big defendants So we have to calculate ETH and ETC at same hashrate

[@ordanumn7494]

Why would red panda even post this? It's clearly a marketing gimmick to buy your GPUs at a discount

[@1nfiniteloop]

Seeing those numbers does paint a bleak picture. Many will bail on GPU mining that is for sure. I think the scenario where there's a 6x in one coins profitablity and 80+% bail is a combo situation that COULD happen in 6-12 months. Agree if these numbers in the video stand at the merge, many miners will sellout & leave mining for ever. One play I might consider , since I sold my farm in October for another investment opportunity, is to buy 3000 series GPUS when price hits rock bottom by Xmas 2022 and into early 2023. Then either hold on to the cards till GPU prices recover or mining becomes profitable again; thinking of the PoW coin doing a 6x + 80%+ drop in miners before getting back into mining.... I'm just mining on my personal rigs till the merge and might think about building back my 1gh farm and then some if things turn out better than in this article. :)

[@luketroyer3296]

Am I correct that this is a article published by a company that wants to buy mining supplies as cheap as possible? Motives seem a bit suspicious.

[@RabidMining]

Nice to see you pointing this out Panda been trying to warn people for months now but all I get is hate but it doesn't bother me people gotta realize what's going on end of ETH is worse then any crypto winter for GPUs. If you are in the red use the money you woulda spent on power and get more coins then mining it for that future run.

[@tancakar8987]

when do you selling your rigs then ?

[@quasar1268]

Waiting for you to sell your jasmine miner lol.

[@RabidMining]

@@tancakar8987 not selling lol need them for testing.

[@tancakar8987]

@@RabidMining the artichle red panda was reading was from a GPU buying company. Checked it today, in their quote they dont even give you the half price of your rigs worth. These people are scammers they are really work on this sht. they make you very worried and afraid, sick to your stomach then they want you to sell your rigs, they want you to think they are right, They want you to believe after eth the mining will be gone. its a psychological attack. They are amnupulating your minds. But then you just WAKING UP and thinking if the mining going away why this company collecting 1000's of gpus for cheap ? :)

[@jesso2k6]

There's been a run of "I told ya so's, I sold last year" on the forums lately. Like ok? & I got an 6 months of mining out of my GPUs before I got to see for sure that the merge wouldn't delay. So if you bought at MSRP you're biggest worry is selling your GPUs at half its original value... I don't see why that's worth crying over if you made back at least half its value in mining.

[@GetNGhost]

Well my strategy now, is to mine ETH, convert to ETC. Slowly building up, waiting for the ETC pump post merge. When the Asic's are forced to switch, the ripple effect will be felt! ETC may not hold the next spot for long, but it will temporary hold the next top spot. All these numbers are meaningless though, except for maybe the Eth numbers that miners will be losing. 2018 all over again, rinse, repeat!

[@mikesel1959]

This is a great article remember the math is correct but the circumstances can change. But the math on Bitcoin is also correct. I will keep going because my goal was to pay for my gpu and to grab as much free solar power as possible. I put myself in a position to do this. If you guys can do this I think this is the only way to last and make sure you learn another way to make income. We will succeed just keep making sure you give it your best. Keep hustling enjoy the day just my 2 stats

[@CryptoMiningInsider]

Great Video RPM, All the outcomes are extremely scary. I Hope (and Pray) ETH Merge Keeps getting Delayed - at least until something potentially profitable comes along

[@inigo807]

In my view it’s all going to be down to electricity costs. The 5-10% of miners with cheapest rates will be the ones getting all the coins

[@sparkplug4626]

Always great to see your vids RPM. The interesting thing is the mining community is millions of people and blockchain usage and pricing is in the hands of the people. That is the idea of crypto versus fiat banking. So if the millions of miners decide to move or create something which is to support the people then I think that would be a better outcome then we have today or coming soon with ETH going proof of stake. There are even existing projects that we can migrate to and support which could work. The value of something is what people are willing to pay for it. If we put our efforts and energy towards using a new or existing crypto we can impact the market. The millions of people have more power then the few in this case.

[@therealjeffdimps2]

Miners tend to think they are the majority of the network. Regular folks and investors make up majority of the users and overall money put in eth. Everyone besides miners are looking forward to POS so if anything the price will jump. If we all put our money in a tiny coin then yeah we can build it up but eth will be fine with out us tbh.

[@a-niqazmi6548]

@@therealjeffdimps2 miners need to realise they need to agree on a coin which support decentralisation alligned with the unbanked agenda. thats essentially what cryptos were. even the split from gpu miner to asics miner is enough to disrupts this ideological effort against banks. i think kawpow is a good move. but still has yet to attract gpu miners who understands this idea of unity

[@therealjeffdimps2]

@@a-niqazmi6548 well said.

[@yellow5c]

My tiny 2xGPU rig is going to keep mining, no matter what. It is sobering talk, but I was prepared for this when I went online June 2021. I will continue to accumulate some alt coins, and play it by ear post merge. I thought GPU mining was dead when Bitcoin could no longer do it, and then Ethereum showed up. PoW is the ultimate example of decentralized processing, and I believe that other coins will demonstrate use, rise in value, and reassert GPU mining as a profitable option.

[@livetohash6152]

How does this kill BTC mining tho?

[@jordanwood]

Article doesn't factor the increase in difficulty. what's the scenario when all 4gb and 6gb cards drop off? Every PoW coin's difficulty will sky rocket.

[@whitestarmining43]

I watched until the end. I believe that ETH will fall back once POS goes live. However, I honestly believe that miners bring VALUE to the coins they mine as they are the holders of said coins. Whatever we choose to mine will rise in value because (I believe anyways) what value is in crypto is ultimately determined by....adoption. If no one has it or uses it (ETH post merge) then what's the point of owning it?

[@michaelcarlile4131]

I understand where they're coming from, but they literally gave us the solutions. No one could have known eth was going to go as high as it did or as quickly, any other coin can do the same. I'm in it because I really enjoy making computers and getting cool video cards. It's a hobby for me that I was making money on. Soon it will be a hobby that I lose money on, like everyone else.

[@nrew915]

gpu mining will survive. it always has and always will. miners should be backing ravencoin. you cant lose to asics on rvn because it is asic resistant!

[@thevito1091]

100% decentralised! No ico no pre mine no developer fees. It is an advanced bitcoin with asset function. I’m with you brother RAVENCOIN TO THE MOON !!!

[@SS4DBZ]

While I am concerned, I feel like that final paragraph removes some credibility from the article. The whole article talks about how GPU miners are screwed, then makes an offer to buy all of your equipment. "Your GPUs are useless, so you should sell them to me" makes it seem like they're misleading us in the article for their own benefit. Having said that, math is math, so I don't think the article was necessarily wrong.

[@bitcoin7426]

When they say LTC going to asics was a small part of a big pie, that is factually wrong LTC was the entire pie for gpu mining when it went to asics.. I should know I was mining back then.

[@polongski]

The only way to make gpu even more profitable to mine post eth is for all eth miners to dump all their eth holdings together and use it to pump etc. With those massive amounts of eth to be dumped for sure etc could easily reach more than 10k usd therefore it will be more profitable to mine it with gpu post eth.

[@antman448]

There's a few other scenarios that they didn't mention in the article. Not going to explain because it doesn't help me, but they're saying they sold their GPUs a year ago and at the end of the article they are offering to buy your mining farms. lol

[@prairiepatriot2162]

The best point raised is why all those with so much to lose from this merge haven't fought to stop it.

[@ogChaaka]

This assumes you are mining for profit. Ill keep supporting the network and the dream.

[@usmc7210]

Nice overview. Is there an article or reference to why ETHs price will crash because it went to PoS ?

[@TAM-mj9lb]

An old proverb says "No soup is eaten at the temperature it has been cooked", meaning that this worst case scenario will more than likely not emerge. Because if it did, why would Bitpro attempt to purchase your equipment at any price?

[@GamingEntertainum]

Glad you are staying in the space, was evaluating investing into disruptive power production to jump in, curious to see how this shapes up, interesting to see if ‘something else happens’ : sorry didn’t find your channel earlier to catch part of the wave.

[@Hektman]

This seems like a major fundamental switch. Part of me wants to get into mining in hopes that the next ethereum takes over. On the other hand this also makes me want short Nvidia.

[@Felix4cool]

If there was such a movement/fight for the miners. Why not make a proposal to there being a period between the actual crossover from POW to POS and have 30/70 mining and staking?

[@audieallen9734]

holy cow, this article and video was epic eye opener! it hurts! and it's scary! idk what a small actor like me can do.... thank you for the knowledge, I watched too the very end and was like it's over already? aww...

[@michaelmichaud5416]

NOW is time" buy buy buy "equipment, 3090 GPU was $3-$4000 each Now MSRP We got spoiled on ETH . 3 years from now look back say , Why did I not buy more in summer of 2022?? Now is when making , getting self off Grid power. If you can have free power( Like gasification) solar . The raven coins ( Just Halved ) is outstanding speculation .....

[@mozzarella84]

I watched to the end, thanks for your commitment

[@ryanhinkle2286]

but what % of ETH hashrate are ASIC miners doing?

[@vicksgaming4u]

Intense Topic ur vid took my breath away

[@vicksgaming4u]

Moral of the Story Hoping for the best & Prepared for the Worst

[@dumpsterfire6732]

That article is definitely an eye opener... I'm just getting into the mining space so it's more of a hobby right now for myself. Imo the fact that etherium would turn their backs on miners is bs... I was hoping with the great hadhrste migration miners were gonna pull the plug on them and move elsewhere... I also understand $0.02 doesnt pay the bills

[@RedPandaMining]

nobody knows, it is all based on assumptions. Time will tell. If you believe in the cycles of bitcoin then you will continue but really your cost kwh electric matters.

[@Lobonova]

put on your blue collar shirt and get to work

[@stevenhalim893]

@@RedPandaMining but isnt better to buy the coins intead of mining it? Assuming the electricity > earning. Even if you pay your electricity by own pocket money u wouldve gotten more if you had just bought the coin innit?

[@linus9326]

@@stevenhalim893 Watch the Video from Sebs Fintech, he is a friend of red Panda and he made a video about this just a week ago

[@durtisdanger]

@@RedPandaMining Electrical costs will continue to explode up (carbon taxes, elimination of coal, etc) it is making off grid solar more attractive by the minute.

[@marlberg2963]

A basic assumption in this article is not stated in the article. The average gpu hashes differently based on the algorithm used. Eth dies without the ability to secure the network in a decentralized manner. The value in Eth is in its guarantee of its network and its decentralization, which proof of stake denies. This will cause Eth post merge to crash to pre 2015 levels. GPU mining is mutable as it can mine most pow coins ASICS cannot being limited to Eth and Etc. At 60% of the hashing power on mainnet ASICS will be denied entry into pow coins that are memory difficult, leaving GPUs and here is where the articles assumption flaw comes in to play. Certain coins will be more difficult for the GPUs to profitably move to (unless they are already mining those coins because their networks have been adapted in which case they are not mining Eth right now so are not countable for purposes of this math) Certain coins will be easier to adapt to. Those in the latter category will see greater influx of hashpower and likely a greater increase in token price as popularity increases market acceptance(barring network failures that compromise the network in whic case popularityfalls off and once again people switch coins). 6x on ERGO for example is only 14.28 per token. Well below 5 year middle of the road target price. In 5 years current models show ergo at 30+ per token. 20gh/s Ergo @ 30.00 per token is roughly 2000 per day. Profitable by most standards. And with more popularity the network difficulty rises so the luck goes down but that's beyond scope of this diatribe

[@trevor2]

I think the article forgot to consider that ETH has a lot of ASICs that won’t be able to mine ETC or any other coins. And it is hard to know what percent of the current hashrate is ASICs until the merge actually happens. Definitely see a GPU mining winter coming, but I don’t think it will be as bad as the article makes it seem. They are probably trying to scare people into selling their GPUs.

[@10luberda]

the hashrate will instantly go down and if all the small miners hold strong it should push out the big farms with big bills and no revenue

[@swanny19881]

People need to realise that even though they might be mining at a loss, you can still turn your revenue into profit by learning how to trade. Even in a bear market you can still make profit. I'm not keen on the merge and it will shake the gpu mining community something shocking. But in saying that no one can predict the future, yeah you can use maths and solid research like this bloke has done but at the end of the day the whales own the market. Think of the possible outcome for the giant gpu farms with alternative coins to mine, they may keep mining the next coin, they may sell off half of their farms, they might turn all of them off...no one will know until the merge. I will be continuing mining and building rigs because I enjoy mining and I've learnt how to trade my revenue for solid returns. Yeah people might call me ignorant for going along with it but I don't really care because I enjoy mining and investing. Also if people play it smart, they will wait for the merge and then buy up cards and rigs at discounted prices rather than spending that extra money on new gear. That's what I'll be doing anyway Keep your options open and keep your mind positive 💪

[@worldwanderingfisherman2166]

ergo block reward is 63 and will decrease 3 blocks every 3 months.

[@akapiff]

will the merge hurt me even tho im mining bitcoin on gpu?

[@Yor_gamma_ix_bae]

Are you using nice hash

[@Yor_gamma_ix_bae]

If so then yes

[@corporateair4853]

I will continue with you... until my gpus won't turn anymore Thank you If you jump God will catch you!

[@matijaveljkovic3222]

One coin must go up in value, and we will see what is that, like eth back in the days. All miners should support one pow project

[@toonex5399]

This makes it very hard as I still believe the projects such as rvncoin are extremely good but obviously mining the coins won't seem to be a feasible thing for anyone such as myself who won't be able to pay out of pocket (I have one rig with a 6600xt and 570 8gb, with my pc mining most of the time with it's 2070 aswell)

[@bendavis911]

GPU mining is not going anywhere. I guarantee you.

[@masterventus8420]

The original miners like yourself are who I hope survive. I came in and out the end of December and out by March because of personal reasons. Loved it so much, I still follow and now as a hobby. So a different play fir me. Lost 12k doing it, but was a risk going in. Bought and set up 15 3080ti's at max (2k plus) and had to get out. Might have been a blessing and got the deep wound over instead of a long slow death of hope. Either way, great experience and I just put a bid on a second gpu, to place in my pc in my office for fun. So praying everyone gets through this as painless as possible, but remember, there was never a guarantee. Thanks for getting the facts out, and hopefully I win a frame!!!!!

[@KrummyProductions]

That’s some serious gpu loss porn.

[@ich_16]

in my situation , am in country with pretty small market for both GPU's and ASIC's so even if i tried selling my GPU's no one will buy it with what it deserve and i have 0.048kw so mining at what he says 7cents better them shutting them then my only option is keep mining" that what i want 🌚 " but i have a question : if the rigs that now mining ETC or ERGO or RVN why would they shut down ? i know that most of them they let just 5 or 10% of their rigs mine ETC etc.. and the rest just ETH but if those sell's only the Rigs were mining ETH and left the rigs that already mining mine isnt that possible ? idk , worst case for me even if the profit only 0.01$ per day i will mine ETC and convert them to BTC better than shutting them down

[@BryantD1960]

I'm still plan on mining, no matter what. It will suck for a while but I'm in for the long haul with my 2.06 GH/s farm.

[@davedismantled]

Same boat as you, friend. Creeping up on 2.2GH. Fortunately I still have fairly cheap power, so that may help.

[@thatguywoods7778]

Goodluck losing money

[@pav1u]

@@thatguywoods7778 thats what everybody said when btc was 100$

[@thatguywoods7778]

@@pav1u 95% mining is on eth so no clue what your talking about the coin price I'm talking about how it's pointless to mine a coin when you will be negative in money?

[@TwinsenR]

Not sure why people seem to think that they can just mine something else once ETH 2.0 occurs, mining WILL be dead for at LEAST 2 years. I've been saying it for damn near a year now, lol.

[@anthonydenowski4051]

Nice Post Red Panda. I don't have many cards and I'm just going to keep on mining! :)

[@kirkhilles523]

That is certainly the best article I think I've ever read on the subject. There's no denying the math when there's literally 8x the amount of hashrate out there just in the past year, that is not something that is going to go away quickly as the article suggests. 50% may drop off immediately but that'll be nothing.

[@MarretaGaming]

yeah but on the other hand in the bottom of article they offer to buy your gpu´s 😀 that for me is very suspecious

[@kirkhilles523]

@@MarretaGaming Yep, definitely laughable. However, I don't doubt their numbers. There is just too much hashpower and nowhere for it to go.

[@MarretaGaming]

@@kirkhilles523 agree !! but i will keep mining because i believe in this tech and industry and will support the projects that i believe that are right now flux and ergo but wo knows the future .... i am doing this sence 2018 so let´s see what the future brings for POW

[@DROCKTECH]

Wouldn't going to raven ton and ect ect force an influx of those coins into the market paving a use for them? Once they are widely used then they become worth more as per supply/demand. I dont seen gpu mining going bad for very long. The assumption that non of these coins like raven won't begin to be used more and boost the price.

[@user-bh9yk2wv4w]

Fair points, but follow the big money in what they’re doing. Doesn’t seem like the huge farms are shutting down... They’re expanding and so are these guys that made that article. Keep hashing my dudes!!