What happened in past day or two? My average hashrate is same, even a bit higher then before and my Eth earned per month droped by 0.3. I used to get around 5.2 and now is 4.9 in 1 or 2 day. Anyone know why?
Also do they plan to fix ice age as pos is quite postponed?
Cheers!
you think a drop from 5.2 to 4.9 is huge?
you have much to learn.
What Phil said. In a month you will be lucky to still be making even half of that. In two months you will be doing good making 1 ETH/month.
Also a few dollar rise in ETH is not going to compensate much, if at all. If you mined 5 ETH/month at $200 you made roughly $1,000/mo. So unless ETH is at $1,000 in two months, you will be losing even more.
Assuming he really is new and has only mined this year is like being a Chicago Cubs fan that first started to follow the Cubs in the year 2016.
Or like being a New York Mets fan that started following the Met in 1969.
To the op this year has been godlike devine amazing spectacular for mining ETH.
It will lower to 5-15% yearly profits. Vs the 100 % profits made the first 7 months of 2017.
What do I mean if you earn 1000 usd a month now and pay 150 in power netting 850 after cost
it will change for the worse maybe 800 and 150 in power by August 31st.
then 650 and 150 in power by Sept 30th
Yep, I remember mining ETH back in fall of 2015 and was making only 2:1 in profits and considered that good. This means if I was making $300/mo in income, my electrical cost was $150, or in other words only netting $150 per month after costs. Of course this didn't even consider things like ROI as I was using equipment I had leftover from back in the scrypt mining days.
The true profit came by holding on those coins, but what is different is that was on the front edge of the run-up in price, now we are on the back end. So we will never return to those days as far as potential with Ethereum and plenty of people already have thought about their "backup" plan to switch to another coins, so it is doubtful any of the up and coming alts will see future performance like Ethereum did.
The last time mining profit was even close to this was the scrypt (Litecoin/Dogecoin) profits back in 2013 and very early 2014. Since then there was a three year drought of low to no earnings and at times even I turned off my rigs completely, at least the ones I kept and didn't sell.
Point in all this is you better start getting comfortable with only making 2:1 profits and probably less for a period of time and forgetting about anything less than at least 2 year ROIs on any new hardware you buy. The good times for mining are going to take this winter off and maybe take an extended vacation throughout the summer of 2018. So unless you are really in this for the long haul, just get used to watching that difficulty number climb each day and your profits shrink.
Were you around BTC in 2009-2013 ? Just wondering how the mining profitability bubbles were back then.
I was around in 2014, and pretty much I made more profit in Jan-Feb 2014 than the rest of the 2014 year.
I think in middle 2014, everybody turned off their rigs, waited 6 months, profitability got worse and they sold their rigs and forgot about mining.
Then in Spring 2016, mining was profitable again because nobody was GPU mining then.
So I think we will see a similiar pattern. At the end of 2017, many will put rigs on standby. 6 months later, probably sell them on eBay. And sometime in middle 2019 or early 2020, if there is some POW coin worth mining then it might get profitable again and restart the cycle.
