Why are profits so low?

[jmigdlc99]

for eth mining to survive --> to be the same as its right now, it has to reach to at least $200 per coin and keep that tomorrow. This is a good test to see how eth stands.

Get ready trolls, lets see breaking the cursed bitcoin $4500 or eth $200 mark.

Given that it's now apparent that the pump did not last very long and ETH value (along with everything else) has gone back down, if we follow your logic, ETH mining will not survive much
longer? I wonder what the forecast for ETH looks like now and what the impact of issuance reduction will have on price.

I'd think if something becomes harder to obtain, its value will rise?

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[Metroid]

Given that it's now apparent that the pump did not last very long and ETH value (along with everything else) has gone back down, if we follow your logic, ETH mining will not survive much
longer? I wonder what the forecast for ETH looks like now and what the impact of issuance reduction will have on price.

I'd think if something becomes harder to obtain, its value will rise?

I believe what happened was a bear trap, eth will rise to $200 levels, block 7,280,000 is the fork, eth network is at moment 7,264,574, 2 or 3 days to, on a side note, eth mining profitability from $0.03 per gpu per day at moment https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=30&p=130&fee=3.0&cost=0.1&hcost=0.0&commit=Calculate to https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=30.0&br_enabled=true&br=1.91&p=130.0&fee=3.0&cost=0.1&hcost=0.0&commit=Calculate minus $0.10 per day gpu is big, not seeing that to stay for while.

[adaseb]

Given that it's now apparent that the pump did not last very long and ETH value (along with everything else) has gone back down, if we follow your logic, ETH mining will not survive much
longer? I wonder what the forecast for ETH looks like now and what the impact of issuance reduction will have on price.

I'd think if something becomes harder to obtain, its value will rise?

I believe what happened was a bear trap, eth will rise to $200 levels, block 7,280,000 is the fork, eth network is at moment 7,264,574, 2 or 3 days to, on a side note, eth mining profitability from $0.03 per gpu per day at moment https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=30&p=130&fee=3.0&cost=0.1&hcost=0.0&commit=Calculate to https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=30.0&br_enabled=true&br=1.91&p=130.0&fee=3.0&cost=0.1&hcost=0.0&commit=Calculate minus $0.10 per day gpu is big, not seeing that to stay for while.

It might rise to $200 area's however the sell-off from $160 was massive. I am thinking we might bounce to maybe $145-$150 and shorts will arrive and it will re-trace back down to the $115 area or retest the $100 or $80 supports in doing so.

If this was a small pullback, I wouldn't be worried but it was a violent sharp bearish candle and many shorts will try and reshort the $150-$160 area because $160 is rock-solid resistance at the moment for ETH.

Looks like the ETH fork was again, buy the rumor and sell the news. Similiar to BCH fork in November.

[Metroid]

It might rise to $200 area's however the sell-off from $160 was massive. I am thinking we might bounce to maybe $145-$150 and shorts will arrive and it will re-trace back down to the $115 area or retest the $100 or $80 supports in doing so.

If this was a small pullback, I wouldn't be worried but it was a violent sharp bearish candle and many shorts will try and reshort the $150-$160 area because $160 is rock-solid resistance at the moment for ETH.

Looks like the ETH fork was again, buy the rumor and sell the news. Similiar to BCH fork in November.

The sell off happened because everything was manipulated to but i dont think this bear manipulation will continue longer than middle of this year, soon the bull manipulation will start and will be done by the same people.

This manipulative crypto market has always been like this, when they crash they crash a lot and when they pump they pump a lot, I would not be surprised to wake tomorrow and see btc at $8000 and eth at $600 because right now it makes no sense to manipulators crash the market even more than they already have done.

[adamvp]

It might rise to $200 area's however the sell-off from $160 was massive. I am thinking we might bounce to maybe $145-$150 and shorts will arrive and it will re-trace back down to the $115 area or retest the $100 or $80 supports in doing so.

If this was a small pullback, I wouldn't be worried but it was a violent sharp bearish candle and many shorts will try and reshort the $150-$160 area because $160 is rock-solid resistance at the moment for ETH.

Looks like the ETH fork was again, buy the rumor and sell the news. Similiar to BCH fork in November.

The sell off happened because everything was manipulated to but i dont think this bear manipulation will continue longer than middle of this year, soon the bull manipulation will start and will be done by the same people.

This manipulative crypto market has always been like this, when they crash they crash a lot and when they pump they pump a lot, I would not be surprised to wake tomorrow and see btc at $8000 and eth at $600 because right now it makes no sense to manipulators crash the market even more than they already have done.

It is impossible in my humble opinion - there is no reason to another bull market start now neither internal nor external  - many good traders and market analyst says previous pump was last  - but even if no, I think we should be patient and focus on choosing best projects

[TooDumbForBitcoin]

It might rise to $200 area's however the sell-off from $160 was massive. I am thinking we might bounce to maybe $145-$150 and shorts will arrive and it will re-trace back down to the $115 area or retest the $100 or $80 supports in doing so.

If this was a small pullback, I wouldn't be worried but it was a violent sharp bearish candle and many shorts will try and reshort the $150-$160 area because $160 is rock-solid resistance at the moment for ETH.

Looks like the ETH fork was again, buy the rumor and sell the news. Similiar to BCH fork in November.

The sell off happened because everything was manipulated to but i dont think this bear manipulation will continue longer than middle of this year, soon the bull manipulation will start and will be done by the same people.

This manipulative crypto market has always been like this, when they crash they crash a lot and when they pump they pump a lot, I would not be surprised to wake tomorrow and see btc at $8000 and eth at $600 because right now it makes no sense to manipulators crash the market even more than they already have done.

It is impossible in my humble opinion - there is no reason to another bull market start now neither internal nor external  - many good traders and market analyst says previous pump was last  - but even if no, I think we should be patient and focus on choosing best projects

Same analysts and traders say opposite things. They all just trying to make a shot in the dark. By the way for some players in mining this decline was a perfect opportunity to make stronger their standings.

[adaseb]

The price of ETH and mining are not always corrolated together.

Reason being that even if the price of ETH rises, so will the difficulty because people with expensive power will re-power up their rigs.

The reason why mining was profitable again in 2016 was because nobody was mining. People sold off their rigs in 2014-2015 and forgot about mining in general. The price of ETH back then was low, but it was much more profitable because there was less competition.

Right now the competition in mining is enourmous.

[Indamuck]

People crying about low profits are paying too much for electricity.  I know people that are still doing very well in this bear market because they have contracts for very cheap electricity rates.  Too many people thought they could fire just fire up a few machines from their house paying residential electricity rates and make a lot of easy money.

[avonka]

The price of  the majority of mining coins is in a deep depression for a longer time. The halving time is reducing the amount of the coins and the increasing mining difficulty is reducing the profitability of the mining. This can only be compensated by cheaper electricity costs.

[dentolas]

people just do not understand a mining investment... it is always all about quick cash, if quick cash does not work, they say the business is not worth... the investment can't just be considered in very short periods... power costs must be accounted on your investment from the start, being the energy bills, or renewable energy source
Hashrate is still here, and rising in most cases, so the famous ones who closed shop are the small and unprepared ...
just imagine if you mine and accumulate... you could get to be a bit more independent from the markets 

[forexhercules]

Mine in egypt and you will have a free electricity. you will pay a fixed rate no matter how much you consume.

[nightl]

Mine in egypt and you will have a free electricity. you will pay a fixed rate no matter how much you consume.

then it’s better in Venezuela or Trinidad and Tobago - there is the cheapest electricity

[shiming]

For everyone, the cost is different, there are a lot of people whose electricity is free, so his cost is very low relative to you, then his profit is much higher than you.

[BitBustah]

people just do not understand a mining investment... it is always all about quick cash, if quick cash does not work, they say the business is not worth... the investment can't just be considered in very short periods... power costs must be accounted on your investment from the start, being the energy bills, or renewable energy source
Hashrate is still here, and rising in most cases, so the famous ones who closed shop are the small and unprepared ...
just imagine if you mine and accumulate... you could get to be a bit more independent from the markets 

People from first world countries are being phased out of mining while people in Venezuela will happily mine for a few dollars per day.

Difficulty has not really been correlating with the price much either.  There are a lot of determined farms that will continue to mine even if profit is zero just to breakdown their competition. 

[rembit77]

For everyone, the cost is different, there are a lot of people whose electricity is free, so his cost is very low relative to you, then his profit is much higher than you.

in countries like venezuela libya or egypt where electricity is almost free mining brings huge profits. it is necessary to understand that there 1k$ of net income from mining farm is a huge amount there. in switzerland at high prices im would not mine.

[Alucard2425]

I think in mining you need to consider the cost of electricity  i think is the no#1 concern in mining to get a good profit

[adaseb]

people just do not understand a mining investment... it is always all about quick cash, if quick cash does not work, they say the business is not worth... the investment can't just be considered in very short periods... power costs must be accounted on your investment from the start, being the energy bills, or renewable energy source
Hashrate is still here, and rising in most cases, so the famous ones who closed shop are the small and unprepared ...
just imagine if you mine and accumulate... you could get to be a bit more independent from the markets 

People from first world countries are being phased out of mining while people in Venezuela will happily mine for a few dollars per day.

Difficulty has not really been correlating with the price much either.  There are a lot of determined farms that will continue to mine even if profit is zero just to breakdown their competition. 

Except you are forbidden from mining in Venezuela since the power is a surplus paid by the government. There were reports of people getting arrested and their rigs seized if they were caught. Maybe you could get away with a GPU or two however no way you could mine with a loud Antminer S9.

The bigger issue with this is how can one afford to buy a computer let along a high end GPU to begin with if they are living in poverty. What is the min wage in Venezuela? About $5/month, how with a rig costing $2000, its impossible for most people to afford that.

[meanwords]

Better get out now while you still can. In my country, it's going to be a hot day and that it'll make your rigs stressed out. Summer's just around the corner. A lot of small timers are starting to hibernate their rigs. If you can't make some profit out of it, stop it and wait for your asset's price increase.

[CryptoCoinArbitrage]

Those who cannot pay the electricity bill from their pocket, it is better for them to turn off the RIGS, until the   market recovers to the level of BTC  $6k- $7k and the mining become profitable again. (the break even level depends from price of electricity which differs country to country)

[superstarbtc]

the crypto bear market is very uncertain for miners the same situation was faced in 2014 and 2015 if miners can hold till next bull market then they may witness profit