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Author Topic: excuse a stupid question....  (Read 289 times)
spearhawk
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July 14, 2017, 12:30:43 PM
 #1

I have tried to find this out by searching and googling but I can not find a clear answer.
I am using my computer and graphics card (sapphire rx 480) to mine and I understand the difficulties will make it
less and less worthwhile, but my question is... is there a breaking point?

where difficulty is so high that I will not get any shares at all, and make no money at all?
I am not paying any electricity so thats not a concern. what my concern is that how fast will difficulty make it go from earning 60 dollars a month to earning 5 dollars a month?
or will difficulty even get that bad?
is there a point where difficulty hit a "cap" that you can not get any more difficult?

thanx for any answers since I am totally new to this.
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damNmad
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July 14, 2017, 01:45:55 PM
 #2

Difficulty will keep increase depending on number of miners currently mining.

Mining has hit all time high now, lots of people like you and me have just started, it has changed difficulty to next level.
For example take ETC - I could mine 1.4 ETC a day last month, then after a week it has dropped to 0.9 ETC a day, last week it has dropped to 0.6 ETC per day.

But as long as the price of ETC keeps increase the earning will also increase but if it doesn't then you can go from $60 to $5 a month very quickly. (FYI ETC price fluctuated between $22 - $15).

This is gist of my analysis and my personal opinion.

Hope it makes sense.

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spearhawk
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July 14, 2017, 03:33:16 PM
 #3

Yeah, it makes sense, I do mine ETH and that price dropped like a stone, and is struggling to get back up and I am trying to
keep calm and wait and see what happens, usually market fluxuates rapidly and then settles down, lets hope it settles down
at a decent price.

$192.64
ETHEREUM PRICE
−$42.61
SINCE LAST WEEK (USD)
−18.11%
SINCE LAST WEEK (%)

whats quite a drop, but given that it rose really fast within a few months, lets hope this is just a rubberband effect.
Lipe490
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July 14, 2017, 04:53:02 PM
 #4

If the price follow the mining difficulty increase, there's no reason to worry. But you take an example of Bitcoin. Its difficulty rises so fast that the price cannot follow it.


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lborg
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July 14, 2017, 05:26:55 PM
 #5

Difficulty will keep increase depending on number of miners currently mining.

Mining has hit all time high now, lots of people like you and me have just started, it has changed difficulty to next level.
For example take ETC - I could mine 1.4 ETC a day last month, then after a week it has dropped to 0.9 ETC a day, last week it has dropped to 0.6 ETC per day.

But as long as the price of ETC keeps increase the earning will also increase but if it doesn't then you can go from $60 to $5 a month very quickly. (FYI ETC price fluctuated between $22 - $15).

This is gist of my analysis and my personal opinion.

Hope it makes sense.

Yes it makes sense.

Also, in last three years there was few periods when my mining operation was not profitable. But it made me to look for new coin to mine and this usually put me into profit later.
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