Table of Contents
An Introduction to Crypto Mining
Welcome to the niche world of crypto mining, a rapidly evolving space that’s attracting hobbyists and potential investors alike. A world formerly dominated by Ethereum has recently undergone significant changes that have opened opportunities and challenges for miners, prompting us to take a critical look at the current state of crypto mining.
An Interview with Flux’s Daniel Keller
In order to gain valuable insight into this topic, we sat with Daniel Keller from Flux, who has had quite the experience in the field of crypto mining. Keller shared his perspective on the Ethereum merge and how it affected his experience. He recounted that the transition was fairly smooth for the Flux team since they had prepared for it for around four-and-a-half years. He also complimented the mining community for its adaptability, noting that miners had gravitated towards Flux due to its stability.
Current Challenges in Crypto Mining
The cryptocurrency world right now might be compared to the wild west, with a level of uncertainty and a need for rapid adaptability that can be both exhilarating and daunting. Many are searching for stability and profitable avenues amidst a landscape that’s rapidly shifting. Some miners are shutting down their rigs temporarily, while others are digging deeper to find lucrative, sustainable opportunities.
Keller highlighted the importance of due diligence and research in this field. Looking into projects critically, finding out if they offer solutions to existing problems can prove rewarding in the long run. Miners today have to go back to basics, learning about different projects and reaching out to the broader blockchain community.
The Future of Crypto Mining: What Does it Look Like?
As we look ahead, Keller emphasized the importance of community involvement in propelling the evolution of crypto mining forward. It’s through collective effort that the crypto community can rise to the challenges and formulate strategies that will safeguard the future of crypto mining.
Factors such as project utility, technological roadmap, and how a project adds value to the ecosystem are crucial metrics to consider when investing in a project. It’s not about which project has the largest community or who has the biggest bags; it’s about which project is addressing an existing problem with a clear and effective strategy.
Embracing Change: The Path to Saving Crypto Mining
One of the most important points Keller stressed is the need for the crypto mining community to embrace collaboration and change. Becoming defensive or protective over a specific project or approach will only inhibit growth. Instead, the mining community should actively participate, challenge, and engage with projects to drive necessary changes and ensure the future of crypto mining.
Innovation, Collaboration, and Community Engagement: Key Takeaways for Young GPU Miners
Regardless of the size of the miner’s investment, every single crypto miner plays a crucial role in the future of crypto mining. Their contributions, wisdom, and input can drive significant changes and advancements in the crypto mining space. The most salient advice for new miners is to stay involved, keep researching, and most importantly, understand that every contribution makes a significant difference.
Crypto mining is indeed a challenging space, but it’s also ripe with opportunities for growth, innovation, and building a resilient community. So, miners, buckle up, get ready to roll up your sleeves, and let’s start shaping the future of crypto mining together!
What do you feel the Crypto Mining Scene NEEDS or what MUST Change to get GPU Mining back ontop and Profitable?
The only problem with flux is that it barely pays anything. We need price to increase. It doesn't make sense that flux is only 80 cents a coin. Somewhat fishy
No need to save it with chia around.
You wanna make pow less power hungry. Add registry to coins and every register member can have 1 gpu on 1 coin mining and every register miner gets more coins for pow with just 1 gpu than unregister one with 100 gpust or few mining rigs..
Man i remember i started mining eth on 120$ went to 280$ went back down to 80$ and i gave up.had just 2 gpus in that time was out of job…moving etc…
Is he from flux? Dude change algo to one less power hungry.. my 3080 cant get 76sol without power atleast 250w
Flux is one of my favorite projects, I have rig on it at a loss… paying 0.18kw/h is not easy, but I will do it with a small loss per month… Thank you for your commitment to the community. Regards from Portugal.
Glad to see Dan still doing interviews with the Mining community.
I love flux, changed to it pre merge…Haven’t looked back!
guys I am still trying to buy but couldnt do it. can someone help me
Thank you for the great interview. I love FLUX. I will keep my flux nodes running, but sadly I have to shut down my two rigs. Can't afford 63 $ costs every week 😭
mate we are in bear season. tell us something that will save our asses and we can invest all in
it looks like posschain's supply is really low. it should be really easy to earn money with it.
someone above wrote and I checked on CMC. only blockchain projects rised this week, all the others have not enough volume
So, should we still mine? I personally wouldn't use the term gambling but rather spec mining because I know I could be backing the wrong coin but that's a risk I'm willing to take. I am liking the concept of Flux and the fact that you get paid to run a validation node(s) unlike some of the bigger coins where you can do it but you get no reward (viz, ETH,BTC).
As for me I had been and remain bullish on Flux more so now than ever. Seeing Daniel come on the channel to talk about Flux instills even greater confidence with this project. I keep only GPUs that are the most efficient pointed at Flux and solar to shave some of the electricity costs. Hodling and waiting for the next Bull Run.
1- Flux-ETC pa, 2- When coinbase LOL
Short answer : No
Mining at a loss though isn't smart. You're paying a premium for the coin. Use the money that you would spend on electricity to purchase the coin instead while things settle. Profitability will return but it may take a while.
Why does it sound like Daniel is using a webcam mic instead of the dedicated mic?
I hope flux the next eth SANA ALL FLUX
But like, if mining was the only way to get coins that's fine, but you can just buy the coins so it's strictly cheaper and better for your GPUs. There it's almost no major profitability difference mining now, vs. When it becomes even slightly profitable.
I love flux because zelcore is dope but they also strive to make their nodes dual purpose
N0
It's a no go for GPU mining. There's no money in it. I think this exactly why Dan just runs nodes. Not GPUs anymore
I hope you can't save GPU mining. Enough of overpriced gaming GPUs! GPU PoW must be halted! Only ASICs should be allowed to mine.
Great Video again. I was impressed by Daniel, seemed very knowledgeable and smart.
RVN is the most stable at these times
Excellent video. Simple and truthful. Mining FLUX for the first time, love it.
I wish that they could speed up the block time. Being at 2 minutes is a little long… maybe I am spoiled thinking back to ETH's 13 second block time.
This is what we love about Flux, Daniel has been talking for 4 mins and I want to put everything on Flux.
Armeanio had been talking for less than 4 mins a few days ago and I never want to put a single GPU on Ergo ever again.
Daniel dropping the shade… "we had four years to prepare."
Hobbyists you are the biggest cancer in our community. Do your part in saving gpu mining and leave. We don’t want you. Your a leach bro that has zero idea what they are talking about. Go back to buying your 470s genius.
i just hope tokens "and i mean it" like ETHW stays at the bottom
We just need to give support to real projects and they should stay at the top of the list
I think only miners can improve mining profitability, simply by mining less gash rates. In my humble opinion, if giant miners let’s say these who are mining 100 GH and more bring their mining farms to half the hash rates, then then all miners will double their profits, in fact the giant miners will not only make the same profit at full mining power, but will also cut their electricity cost to half.
Still makes no sense to mine if you can buy coins and get more. That’s the problem everything’s negative now, not even break even. A sensible person would go to an exchange. Deposit some fiat funds, buy the coin you want or one you can swap from. Send it to your mining wallet. You’ll have more at the end of the day.
Mining Flux full time now all my rigs pointed at it 24/7! Hold for future remember folks its not todays worth it's what will it be worth in the future! In Flux we trust don't rely on the government to fund your old age do it yourself!
Bro….it never makes sense to mine at a loss when you can spend the same money you would have spent on electric and hardware depreciation and just buy the coin on an exchange.
Agree to all said,
Telling people to mine at a loss is bad advice…