What happen to mining profitability?

[marlyn]

Its because of difficulty mate!

https://bitinfocharts.com/comparison/ethereum-difficulty.html

i think not only about difficult, but also about the value, that was dumped on all altcoin, because of bitcoin chain split or hard fork, diff is indeed higher, because now even kids and their mother are mining, but the investors dumped a lot of money to take profit

It seems quite strange. The bitcoin is in trouble, all the coins drop with it.

I believe, once bitcoin issues resolves, market becomes more stable and up ^^^.

[QuintLeo]

Its because of difficulty mate!

https://bitinfocharts.com/comparison/ethereum-difficulty.html

i think not only about difficult, but also about the value, that was dumped on all altcoin, because of bitcoin chain split or hard fork, diff is indeed higher, because now even kids and their mother are mining, but the investors dumped a lot of money to take profit

 The drop in profitability over the last month or so on almost all altcoins has been a LOT more about the rise in difficulty, though the drop in price has also had a noticeable negative effect.
 Litecoin is the main exception, as it's price in $ terms has been pretty close to constant within a 10-15% range during that timeframe - so the profitability drop THERE has been all about the additional batches of L3+ and A4 miners getting added to the network hashrate.

[Taxidermista]

"Currently, block time is averaging 14 seconds, but for the last year, it has been inching up to 15 seconds. And, according to calculations made by Buterin three months ago, that number will double to 30 seconds by mid-August of this year."

You don't have a fucking clue how pow works, do you?

[Metroid]

"Currently, block time is averaging 14 seconds, but for the last year, it has been inching up to 15 seconds. And, according to calculations made by Buterin three months ago, that number will double to 30 seconds by mid-August of this year."

You don't have a fucking clue how pow works, do you?

 Do you see the quotes? I hope you have eyes and can see the quotes. Go and enlighten the guy who created Ethrereum you troll.

[Cacapzarg]

"Currently, block time is averaging 14 seconds, but for the last year, it has been inching up to 15 seconds. And, according to calculations made by Buterin three months ago, that number will double to 30 seconds by mid-August of this year."

You don't have a fucking clue how pow works, do you?

 Do you see the quotes? I hope you have eyes and can see the quotes. Go and enlighten the guy who created Ethrereum you troll.

Mid August is just 20 days away. Will the block time that high?

[Metroid]

I have been saying this for quite a while, you trolls never pay any attention, you trolls buy for example rx 570 that costs $200 for $700 and think you will get the roi in 2 months, you trolls have no idea about anything. Your 2 months have become 1 and half year already and soon will become 3 years hehe also most gpus dont last that much, so the warranty will end before or probably other component will break down and that is it, in the end you trolls will be in debt, crying and will likely commit suicide. If you want to mine then think about the worse possible outcome first. I have seen this in 2014 where 99% of trolls quit mining, huge debts and many committed suicide because was the easy way to stop the pain.

[Raziel__]

"Currently, block time is averaging 14 seconds, but for the last year, it has been inching up to 15 seconds. And, according to calculations made by Buterin three months ago, that number will double to 30 seconds by mid-August of this year."

You don't have a fucking clue how pow works, do you?

 Do you see the quotes? I hope you have eyes and can see the quotes. Go and enlighten the guy who created Ethrereum you troll.

Mid August is just 20 days away. Will the block time that high?

Well its said that in mid or late August block time will be about 30secs, in October about 45secs,

[Haryford]

"Currently, block time is averaging 14 seconds, but for the last year, it has been inching up to 15 seconds. And, according to calculations made by Buterin three months ago, that number will double to 30 seconds by mid-August of this year."

You don't have a fucking clue how pow works, do you?

 Do you see the quotes? I hope you have eyes and can see the quotes. Go and enlighten the guy who created Ethrereum you troll.

Mid August is just 20 days away. Will the block time that high?

Well its said that in mid or late August block time will be about 30secs, in October about 45secs,

It is bad for miners, but the transaction is the same.

[Thetaj]

Everyone and their Grandmother is mining in Asia with GPUs. And you wanna know the crazy part? They're OK with 1 year ROI! I'm not even joking. I had a friend ask me about GPU mining and I told him expect ROI in 6 month + and he went out and bout 200 P106-100.

So hey, I guess Darwinism at its best. If people are willing to work for little to no pay then why the hell not?

[Cacapzarg]

Everyone and their Grandmother is mining in Asia with GPUs. And you wanna know the crazy part? They're OK with 1 year ROI! I'm not even joking. I had a friend ask me about GPU mining and I told him expect ROI in 6 month + and he went out and bout 200 P106-100.

So hey, I guess Darwinism at its best. If people are willing to work for little to no pay then why the hell not?

If you think the price of the coin will rise, it is OK with one year ROI.

[cryptoking710]

Everyone and their Grandmother is mining in Asia with GPUs. And you wanna know the crazy part? They're OK with 1 year ROI! I'm not even joking. I had a friend ask me about GPU mining and I told him expect ROI in 6 month + and he went out and bout 200 P106-100.

So hey, I guess Darwinism at its best. If people are willing to work for little to no pay then why the hell not?

If you think the price of the coin will rise, it is OK with one year ROI.

Adversely if you think the coin will fall, you are not OK with ROI.

[Za1n]

Everyone and their Grandmother is mining in Asia with GPUs. And you wanna know the crazy part? They're OK with 1 year ROI! I'm not even joking. I had a friend ask me about GPU mining and I told him expect ROI in 6 month + and he went out and bout 200 P106-100.

So hey, I guess Darwinism at its best. If people are willing to work for little to no pay then why the hell not?

If you think the price of the coin will rise, it is OK with one year ROI.

Ahh, but here you have almost stumbled upon the most obvious question. If you think the coin will rise, why not just buy the coin?

I really do not see the point in this "I am ok with a 12 or even 18 month ROI period" mentality when investing so much into mining hardware, especially since everything is so overpriced. As I have said many times, in all cases you are pinning your hopes of profits on one simple fact, that the coin(s) you plan to mine will continue to increase in value. This means market prices must continue keeping up with or exceeding mining supply (which can basically be equated with the network hashrate and difficulty), thus making mining profitable.

So again, if your belief is that the coin(s) you are interested in mining are going to continue to go up in value, after all that is why you are willing to invest $1,000's of dollars in hardware that might in maybe 1 year break even, why not instead invest $1,000's directly into the coin(s) and in 1 year be in profit, not just at break even?

There are certain times in the crypto-lifecylce where mining makes sense and you can often net average your coins for far less than you could by purchasing them outright. However, for most current coins that ship has long sailed and only those with hardware already paid for, or who have super low or free electricity would be better off at this point buying hardware versus just buying the coin outright.

[g0suboy]

I had the same dilema, invest in coin or buy GPUs. I decided to buy gpus cos after i pay for them i can still mine if not eth then other coin. If i just invest i can only wait for coin to go up, sell and then what? wait for coin to go down buy again wait to go up... do some day trading.... to me its more like a gamble then steady income... with my few rigs (20gpus) i can get ROI this year if eth goes a bit higher. i target to sell at 500$.

[antantti]

Ahh, but here you have almost stumbled upon the most obvious question. If you think the coin will rise, why not just buy the coin?

I really do not see the point in this "I am ok with a 12 or even 18 month ROI period" mentality when investing so much into mining hardware, especially since everything is so overpriced. As I have said many times, in all cases you are pinning your hopes of profits on one simple fact, that the coin(s) you plan to mine will continue to increase in value. This means market prices must continue keeping up with or exceeding mining supply (which can basically be equated with the network hashrate and difficulty), thus making mining profitable.

So again, if your belief is that the coin(s) you are interested in mining are going to continue to go up in value, after all that is why you are willing to invest $1,000's of dollars in hardware that might in maybe 1 year break even, why not instead invest $1,000's directly into the coin(s) and in 1 year be in profit, not just at break even?

There are certain times in the crypto-lifecylce where mining makes sense and you can often net average your coins for far less than you could by purchasing them outright. However, for most current coins that ship has long sailed and only those with hardware already paid for, or who have super low or free electricity would be better off at this point buying hardware versus just buying the coin outright.

This post should be sticky.

[bigtee]

Everyone and their Grandmother is mining in Asia with GPUs. And you wanna know the crazy part? They're OK with 1 year ROI! I'm not even joking. I had a friend ask me about GPU mining and I told him expect ROI in 6 month + and he went out and bout 200 P106-100.

So hey, I guess Darwinism at its best. If people are willing to work for little to no pay then why the hell not?

If you think the price of the coin will rise, it is OK with one year ROI.

Ahh, but here you have almost stumbled upon the most obvious question. If you think the coin will rise, why not just buy the coin?

I really do not see the point in this "I am ok with a 12 or even 18 month ROI period" mentality when investing so much into mining hardware, especially since everything is so overpriced. As I have said many times, in all cases you are pinning your hopes of profits on one simple fact, that the coin(s) you plan to mine will continue to increase in value. This means market prices must continue keeping up with or exceeding mining supply (which can basically be equated with the network hashrate and difficulty), thus making mining profitable.

So again, if your belief is that the coin(s) you are interested in mining are going to continue to go up in value, after all that is why you are willing to invest $1,000's of dollars in hardware that might in maybe 1 year break even, why not instead invest $1,000's directly into the coin(s) and in 1 year be in profit, not just at break even?

There are certain times in the crypto-lifecylce where mining makes sense and you can often net average your coins for far less than you could by purchasing them outright. However, for most current coins that ship has long sailed and only those with hardware already paid for, or who have super low or free electricity would be better off at this point buying hardware versus just buying the coin outright.

All fantastic points. I think a lot of it is looked at like "free money", even though obviously you do need to buy equipment, spend time setting up hardware and software, and spend money on electricity. It's very tempting from a psychological level - as opposed to just buying outright, where you are making a very concerted and quantifiable bet on a crypto.

But obviously I'm not expert in all that, just sort of a guess as to why so many flock to mining. It's also fun, sort of an interesting science experiment.

[yobigd20]

Everyone and their Grandmother is mining in Asia with GPUs. And you wanna know the crazy part? They're OK with 1 year ROI! I'm not even joking. I had a friend ask me about GPU mining and I told him expect ROI in 6 month + and he went out and bout 200 P106-100.

So hey, I guess Darwinism at its best. If people are willing to work for little to no pay then why the hell not?

If you think the price of the coin will rise, it is OK with one year ROI.

Ahh, but here you have almost stumbled upon the most obvious question. If you think the coin will rise, why not just buy the coin?

I really do not see the point in this "I am ok with a 12 or even 18 month ROI period" mentality when investing so much into mining hardware, especially since everything is so overpriced. As I have said many times, in all cases you are pinning your hopes of profits on one simple fact, that the coin(s) you plan to mine will continue to increase in value. This means market prices must continue keeping up with or exceeding mining supply (which can basically be equated with the network hashrate and difficulty), thus making mining profitable.

So again, if your belief is that the coin(s) you are interested in mining are going to continue to go up in value, after all that is why you are willing to invest $1,000's of dollars in hardware that might in maybe 1 year break even, why not instead invest $1,000's directly into the coin(s) and in 1 year be in profit, not just at break even?

There are certain times in the crypto-lifecylce where mining makes sense and you can often net average your coins for far less than you could by purchasing them outright. However, for most current coins that ship has long sailed and only those with hardware already paid for, or who have super low or free electricity would be better off at this point buying hardware versus just buying the coin outright.

All fantastic points. I think a lot of it is looked at like "free money", even though obviously you do need to buy equipment, spend time setting up hardware and software, and spend money on electricity. It's very tempting from a psychological level - as opposed to just buying outright, where you are making a very concerted and quantifiable bet on a crypto.

But obviously I'm not expert in all that, just sort of a guess as to why so many flock to mining. It's also fun, sort of an interesting science experiment.

From my POV why would someone spend $200k for a property only to lease it out at $900 or $1000 a month rent(crossing fingers nothing breaks AND crossing fingers tenant doesn't stick you) vs spending $30k on mining hardware (which BTW is deductible along with the electricity) to make a steady $3k-4k a month mining? I chose the latter. My only regret is that I didn't spent $200k on mining.

[bigtee]

From my POV why would someone spend $200k for a property only to lease it out at $900 or $1000 a month rent(crossing fingers nothing breaks AND crossing fingers tenant doesn't stick you) vs spending $30k on mining hardware (which BTW is deductible along with the electricity) to make a steady $3k-4k a month mining? I chose the latter. My only regret is that I didn't spent $200k on mining.

There are for sure arguments for both sides. In a lot of industries a 6 or even 12 month ROI is fantastic. But there are risks in mining. If it was a steady 10% return on your initial investment in perpetuity then, duh, choose that. But you have to worry about hardware breaking, hardware becoming antiquated, mining of profitable coins being optimized, or even the coin(s) that you store your profits in tanking.

It's a very complicated equation.

[Metroid]

Mining is for losers cause most of you noobs sell your coins too low hehe, I myself love when a coin is crashing you trolls help them to crash even further and then I have to come in and buy your cheap coins hehe, I wait till the enxt 100% pump and then take my profits, I always win hehe, so my returns as a trader are many thousands times greater then you losers miners hehe

[antantti]

Buying a $400 gpu to mine eth vs $80 5x short sell, who wins?

[martyroz]

So again, if your belief is that the coin(s) you are interested in mining are going to continue to go up in value, after all that is why you are willing to invest $1,000's of dollars in hardware that might in maybe 1 year break even, why not instead invest $1,000's directly into the coin(s) and in 1 year be in profit, not just at break even?

GPU mining is the lowest risk entry point because you always have a price on physical equipment. This is especially important to newcomes due to unease / fear of a new (to them) technology - you can't have your cards stolen / deleted / lost etc.