Mining dropping rapdily

[spearhawk]

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?

[sabercrypto]

continue to drop until hard forked of btc were done

[adaseb]

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.

[Za1n]

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.

[Raziel__]

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

[spearhawk]

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.

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

[sonerbo]

yeah its name DİFFİLCULTY

[coinzoid]

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.

[hyet24]

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.

[Hanacerty]

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.

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

[Eyedol-X]

These threads are great

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.

[ghostwalker.ph]

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

[bobo012]

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

[preda]

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?

[Marvell1]

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

lol 'this software was awesome at first'

yeah blame the software , hillarious

[Metroid]

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?

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

[Cereberus]

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.

[Metroid]

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.

[Raziel__]

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.

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.

[spearhawk]

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

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?