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Miners makin’ more money once again!
Gas rates back to ‘normal’
Yes! It's awesome!!!   Got to say, you did some really good work with the data 👍🏼 |
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Miners makin’ more money once again!
Gas rates back to ‘normal’
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Loss of opportunity goes both ways when you are mining - because you cashed out and because you didn’t cash out  Won’t comment on the buyers of coins though, they have a lot more to worry about  |
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Couple of other changes I should have mentioned, that happened during the last few weeks - MEV bots and Gas Limit Raise
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I find more value in Ethereum, so I keep it as it is For me it’s simple math. I was mining last week and mining this week - did not cash out. When do you think I earned more? Definitely last week  which means nothing unless your power company lets you pay with etc and you buy all your mining gear in eth. But I respect anyone that wants to mine and hodl a coin. anyone that complains the the coin is now worth 40x what it was last year in fiat and they earn the coin more slowly is living a very dangerous game especially with ETH. ONE day mr v will die and in under 100 years yes in under 50 years pretty likely I won't guess lower numbers but if he dies today eth will crash and burn bigly as others fight to control it. So to bet on long term hodl of eth is risky due to his control of it. So first find out mr v's age he is a kid 27 https://en.wikipedia.org/wiki/Vitalik_Buterinread up on him and consider that ETH value will drop a ton if he dies. Figure some defensive moves with your eth. and plan accordingly. I look at operating costs this way. I ask myself a simple question. Would Ethereum grow at a rate that offsets your local bank’s lending rate? Over a year, it seems risky, but you know what the interest is going to be (that is one sane, reliable thing about centralized systems) and you know your op. cost. So you mine away and have stop losses in place, just so you are not screwed over totally. But here’s where I see the truly great thing about crypto - maybe the very next week’s peak is enough to cover your year’s interest. Cash it out immediately, set it aside. Now as long as mining is profitable for your electricity rate, why cash out daily or even monthly? Cash out in portions at the end of any of the bull runs that happen during the year without worrying about making the bills. I would definitely agree with you that it is never good to have everything in one basket and be utterly faithful. I hold and wait for the right time and have enough liquidation options in place so I am not holding a worthless bag. This is a golden rule everyone should follow. But as long as you believe in the currency and its real world application (unlike Bitcoin, which is ostensibly just the brand value) I don’t think anyone should live in fear of cashing out at every given chance. The loss of opportunity weighs too much. |
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I find more value in Ethereum, so I keep it as it is For me it’s simple math. I was mining last week and mining this week - did not cash out. When do you think I earned more? Definitely last week Sorry. If the mining power was same in that time, you earned same amount each week - you did not cash it out. Actually, no. The point of OP’s post was that Ether rewards collected by pools have gone down over the week. This is true. And this in turn has affected the rewards to individual miners, along with the lower rewards due to the extra network difficulty/hashrate. Whether you cashed out this week or at a high today, it is still going to be less than what you earned last week - fiat or otherwise. |
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I find more value in Ethereum, so I keep it as it is For me it’s simple math. I was mining last week and mining this week - did not cash out. When do you think I earned more? Definitely last week |
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What you said. The miners were making record profits in March-April due to the atrocious gas prices. Gas fees on top of block rewards are what got the rewards so high. In the last week the gas has been the lowest in quite some time. Lows of 20-40 gwei on weekdays! See for yourself: https://www.gasnow.org/I see 2 reasons for the low gas fees and ipso facto “downed” block rewards: 1. Sidechains or alternate chains like Polygon or BSC picking steam until the Ethereum chain sorts things out 2. Ethereum in its current bullrun is too valuable to be wasted on fees of a contract where the monthly returns were equal to deposit+withdrawal gas fees. People find it better to hold the coin instead of losing 0.05 ETH fees interacting with a contract that gives 0.5% APR per month but if you are mining for fiat or btc you are getting more than 10 cents a mh due to price rise. It is how you look at it when you cash out, I guess - per diem. But going by OP’s data, close to ~61TH/s was added between the 2 days. As long as he used the same sample space during these periods and there were no major shifts to any outliers, we could say it gives a true picture of closed ecosystem. Now we know the block rewards and no. of blocks, so the other major parameters are the gas fees paid and no. of transactions. With fees down and congestion low, a good piece of the pie goes missing. You could say this resembles a taste of what miners have to live with after EIP1559. This is why they complain. 19th AprilETH price: $2,166.19 Avg. gas: 195.80 gwei Rewards (OP data): 28220 ETH = $61.13M 2nd MayETH price: $2,952.06 Avg. gas: 43.10 Rewards (OP data): 16719 ETH = $49.35M |
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You should know by now that ETH mining rewards are VERY difficult to predict. At first I assumed that we would stay in the $2K area and gas fees would be in the average ~100 Gwei area and the complete opposite happened. The price went up 50% but the fees are down to like 25 Gwei on average.
Looking at the hashrate it still is going up almost exponentially and now we know the reason due to those upcoming ASICs, a few months ago we would of never assumed this. This is why don't try and predict the amount you will make per day with ETH, its way too volatile to predict.
What you said. The miners were making record profits in March-April due to the atrocious gas prices. Gas fees on top of block rewards are what got the rewards so high. In the last week the gas has been the lowest in quite some time. Lows of 20-40 gwei on weekdays! See for yourself: https://www.gasnow.org/I see 2 reasons for the low gas fees and ipso facto “downed” block rewards: 1. Sidechains or alternate chains like Polygon or BSC picking steam until the Ethereum chain sorts things out 2. Ethereum in its current bullrun is too valuable to be wasted on fees of a contract where the monthly returns were equal to deposit+withdrawal gas fees. People find it better to hold the coin instead of losing 0.05 ETH fees interacting with a contract that gives 0.5% APR per month |
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It cant be ethanol since it didnt catch fire.
It cant be 3M Novec since you drink it.
It cant be distilled water since theres no evaporation.
What the Hell is it?
The oldest immersion cooling liquid - Mineral Oil.
Could be some amino acid solution? Cysteine, because it helps with hangover Very curious since the OP so nonchalantly took a lick |
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Do you have Go Big DTV Now account?
I don't know what you mean, can you PM me the link to the site? I have Direct TV Now if that's what you ask. Please educate me here because I never heard of that site  Meant Direct TV Now account with ‘Go Big’ subscription package. |
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Do you have Go Big DTV Now account?
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What is the warranty period of your DirecTV Now accounts? How long are the subscriptions valid?
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Brought a DirecTV subscription. Cheap and no hassle. Unfortunately his Selly account seems to have been banned. Hope he gets a new one up.
Cheers!
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Got any DirecTV (not DirecTV Now) Ultimate/Premier account. Or Xfinity Preferred/Premier accounts.
How long is the guarantee you offer?
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The performance of the RX590 is increased by 12-15% (Core - 1469-1545 Mhz), so its hashrate during the mining of the Ether will give 30-32 mh, which allows to compete with GTX1070.
Ethereum hashrate has almost nothing to do with core speed, as long as it is high enough (around 1150-1200MHz mark). Increasing it further has no effect on the hash. Every 100 Mhz gives about 0,5 Mh. Also you will have decreased consumption. That is MemClock. The core clock should be good for XMR, once Team Red Miner optimizes it. And this should be competing with the newer GTX1060 using GDDR5X ram. |
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I believe their negative trust should now be rightly removed.
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Keccak is the only dual minable coin without a publicly released ASIC. The algo was occasionally profitable on Nicehash a couple of months back, but none of coins on that algo are doing good now. So not much returns there.
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Now the wind’s blowing towards an RX 590.  |
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