GPU Mining 2017 vs GPU Mining 2018 - Case: Six 7950 Cards
Hello community.
For those who have been around GPU Mining since last year or more, current bearish market has taken profits away compared to last year.
Screenshot taken on August 13, 2017. Source: https://imgur.com/a/nMJExW8
And right now, these are current profits (if you have free electricity):
Screenshot taken on August 13, 2017. Source: https://imgur.com/a/OtU9gjj
Comparing this year with last one, here are some facts:
- Profits are just a third that used to be.
- ASIC Mining being introduced this year to equihash POW mining, increased network hashrate for zcash, zclassic, zen and others drastically: zcash 384%, zclassic 2400%, zen 1100%. Nicehash's equihash hashrate has remained close to last year only increasing around 20%.
- Coins like Bitcoin pivate (btcp) and bitcoin gold (btg) have forked in order to remain asic resistant. The only downside of this is mining software still not fully optimized for changes done.
- Despite bitcoin price increasing 47% compared to last year, the market remains bearish.
My Advice
Keeping in mind that the market's trend is still bearish and there is still a lot of volatility on bitcoin. Usually (despite not being a market expert) turning bullish by the end of the year.
For those who gpu mining is unprofitable keep an eye on market and return in a better time. Those who keep mining, best to do is stay in a community that is asic-free and support it like monero (cryponightv7), sumo (cryptonight heavy), bitcoin gold (equihash 144-5), vertcoin (lyra2rev2) and others.
I hope this helps, and feel free to make your suggestions so i can make better posts in the future. Thanks for reading.
-HerrDrone
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