Bitcoin Forum

Alright, first things first, I am a total noob.
I understand the things about difficulty but I am confused.
I thought difficulty hit you every so often...

and then these numbers don't make any sense

I run on my cpu using claymore dual (but only mining for ethereum)
and on the dos promt screen it says I have somewhere between 23-25 mh/s

and then I look at the days increases.... the amount of shares or whatever I gotten during the day and this shows

21.78808809%
25.49281018%
13.19967089%
12.49796412%
10.88565436%
9.636077873%
7.705946515%

that shows how much "current balance" has grownb in the last few days, and if you look at it closer
youll see that it is shrinking steadily and I wonder why, is it because so many are mining curretntly
that my share is just so much smaller?

will it ever increase? or continue to drop?

as someone said, as long as the price of ethereum increases with the difficulty then its alright
but as of today it has dropped 35% in the last week and shows no sign of stopping the plummet.

am I using the wrong software to mine? cause the earning potential of this software was awesome at first
uring Dwarfpool, but now I see that the nicehash earning potential is growing past this.

whats the advice friends?

continue to drop until hard forked of btc were done

I have no idea where you got those percentages or what they mean.

But to sum everything up.

If you started mining 30 days ago, whatever you should be making today is only 25% of that.

The hashrate for Ethereum and other coins is continuing to increase rapidly, meaning if all else is equal you will earn less coins per day than you did when the difficulty was lower. I assume many people who ordered hardware recently are just now getting around to bringing it online and hope the price decline is a temporary blip before returning to the days of 60 day ROIs, so the price decline doesn't seem to be slowing the new hash rate being brought to bear with each passing day.

So combining these two facts; less mined coins per day and lower exchange rates per coin will indeed mean lower profitability than a month, or even a week ago. The problem is compounded that even if Ethereum were to return to $420, you would still be making less profits due to the fact that you are mining fewer coins each day. So no matter what happens with the price you can rest assured that your profits will gradually decrease over time.

People with rigs that are already paid for and who have low electrical rates will be able to weather the storm and may continue to eek out a small profit, but for people who recently bought rigs, especially overpriced ones due to the component shortage, and/or have high electrical rates (>$0.08) are going to be in for a rough time.

Eth is moving to proof of stake, so in a few months its not gonna be possible to mine.

Yesterday at 23:00 my time the total sum earned was :  0.09089461 ETH
The day before that at same time 23:00 the sum earned was: 0.08439145 ETH

The difference between yesterday and the day before that is 0.09089461-0.08439145=0.00650316
The percentage of growth is then (0.00650316/0.08439145)*100=7.705946514723944

percentrage of growth between days is then 7.705%

there is where I got the numbers from

yeah its name DİFFİLCULTY :)

In my opinion, some of the brand new hardware have never come online yet. Owners are waiting to sort out this price drop period. Let's assume you have large amount of new gpus and you see trend is downwards, would you risk your return period buy using those products? In our country, you have 14 days to return products for full refund (unless they are used). Possibly this regulation is either same or similar for many other countries.

So maybe owners are waiting for August thing and many more gpus will be online after 1 August.

people better bring awareness to using the coins is one thing to keep it going other than that those investors will just would just pull out if they see there is no advancement.  this will leave you nothing but pump and dump groups and miners.  value scaling with difficulty is possible.  it happen a month ago.

If the bitcoin does not split in August, all the coins will rise again.

These threads are great :D

Bottom line, we are in the middle of a Bear Run.

Difficulties are up and profits are down.

If you're thinking short term, crypto mining isn't for you. I'd recommend day trading with caution right now.

yup. it's dropping rapidly. as they say "Winter has come" (GOT S07 & Eth Ice Age Difficulty)

Lol, these threads are hilarious, a lot of noobs crying now
It' s good lesson, nothing is that easy as it seemed a few months ago

And what do you think about?

lol 'this software was awesome at first'

yeah blame the software , hillarious

I guess that is what he thinks about, some noobs are crying, some noobs are buying ropes, rope will be very expensive very soon hehe

People thought a few months ago , wow its so easy to make money in mining and they bought a few GPU-s a motherboard with many GPU slots and thought I can only plug into the wall and I will be rich in no time. That is a wrong approach. The best approach is that from people who thought I am building this mining board to make different amount of bitcoin even small every day. They keep their machines running as they know that bitcoin price in the end of the year should be up.

If you just bought the mining board to show off or without a plan in mind, you clearly lost money in it. However you can do as I said above and let it run, keep the bitcoins in your wallet and be happy after a few months or a few years where you probably would have made 10x or 20x your investment.

that is what whales have been doing every 2 years  or so, they have pumped btc 10 to 20 times and if this rate continues then btc will be in 2020 around 20.000 dollars.

Easier way buy the coin and hold it, no point in mining for waiting the coin to rise. for the rest part I agree, everyone thought i will make a 50$ a day.

Dear sir or ma'am, I would prefer if you refrain from being abusive and obnoxious.
If you have something worthwhile to say, then speak it, if not there is a barrens chat in world of warcraft that more than happily would accept your membership.
In here, I have the assumtion we are here to be constructive and helpful, am I wrong?

and of course there are those that just use the their awesomeness gaming computer to earn a few bucks while they play their favorite games, just like me.
I was merely looking into getting some constructive information about the drop in mining that rapidly when I expected it would be every month or so
and I did not understand that dfifficulty increases for many factors, but now I know, and I can also weed out the good people like you from those that
is just saying "I like the tears of the noobs" cause there is such a thing as Karma and what does go around, comes back around to you eventually.

Good luck in your future endevours, I will continue mining with what little I can cause it sure as heck aint costing me a dime so anything I make is a
clean profit.

WARNING: partial rant below


Don't worry "noobs" it's not you paying the price for this or will be crying...the noobs are on the sidelines watching. Sure the "easy money" is over (okay, okay, there is never easy money).


When you are "in the money" you can reinvest EVERYTHING and you have nothing to lose...It's the miners reinvesting their profits (the good thing is they have profits)...and many of these miners do not post here, they lurk, read, buy more cards.


You can look at it - as if - the mining community has cannibalized itself, but don't worry about them, they are "in the money"...and the noobs are currently "locked out" because it isn't worth it right now to go into mining (especially on a large scale)...but large is also a relative term.

Ethereum went from $40 to 400 in what 3-4 months...the most logical move was to add as many GPUs as possible! Now the downside difficulty up and value down.


As a hobby I would say jump in on a small scale...also buy coins on dips...there will be another run. I hate to use a gambling analogy, but play with money you can afford to lose.


Maybe the negative comments are directed toward noobs because a lot of the current miners are frustrated the difficulty level skyrocketed so quickly.


Look, I think ETC will be a $500 and BTC will be at $4000 at the end of the year...I'm adding equipment slowly with no expectations at all...I also have some cash on the side in case the shit hits the fan

good post, its nothing against noobs though we were all noobs at one time but the posts are funny since even as a noob back when i was mining BTC and Litecoin, I at least knew WTF difficulty was

I think the main problem is those stupid mining calculators we have now, whatamine, coinwarz etc

Back in t he btc days we had bitcoinwisdom which also had a projected difficulty slider, that averaged up the difficultly for the last six months , it also let you put in your hardware cost, power cost etc

and then projected earning using those numbers so you you actually saw how long it would take before you would be in the GREEN.

you saw what the REAL earning were, and that showed me that I need to dip in slowing and also factor in ALL the elements so i started mining slow , and still in the long run lost alot

in the big crash of '13 when ALL alt-coins and bitcoins crashed due to GOX , I didn't take out any loans or lose too much since I didn't overpay for gear.

More of my money was lost in cloud mining scams and ,  ASICS GPUs I did not loose much on since they held decent value. 

You noobs have it easy to be honest, the markets are way way more stable and safer now than before , its hard to loose money these days I dont get all the whining

Well, a lot of people had a lot of 'worthwile' and constructive to say and were saying a few months ago. They said it will come to this.
It's just that people dont think about it, they just see big money, and no downside.
This is a good wakeup call, it is a valuable lesson what crypto is. People entered crypto via mining and if they stay persistent, they will benefit greatly in a few years.
Don't worry, it will turn around again. It goes in cycles

I d suggest you read a bit before asking people to spoon feed you with information you should know if you want to mine.

Mining and not understanding the concept of difficulty is like wanting to drive a car and understanding what does your engine do.

To those who say to read more and not worry, I am not worrying, I was merely being curious.
I am doing this as a hobby, as sideline while I am having fun with games, but as curiousty hit me
I kind of wanted to sound off something odd, that it started dropping 1-2 percent per day after I got my first payment
and I thought that was a bit odd as it kept going up and up the day before. but I guess thats just one
of those coincidences that occurs.

How about we use Nvidia to mine? DAG increase ether mine wont effect it right?

I've worked in 4 different industries, and consulted on many different sites/projects, with god knows how many different variables. I am no stranger to being over your head, and not being prepared (you actually never can prepare enough for most situations). If there's one thing I've learned, it's jump in, take your lumps, you will emerge an expert on the way out.

This is how difficulty works which it does increase in a period of time and talking and seeing with etheriums difficulty increase its really horrible which it can jump our in a span of percentage on a single day which means the longer people mine ETH the difficulty increases. Its just like that and its not really complicate to think of this thing. More Miners= Faster Growth of Difficulty= More harder to mine ETH.