OMG eth's reward on 40% (earnings in $ on 20%) downed for 14 days!!!

[D1NG0]

What you said. The miners were making record profits in March-April due to the atrocious gas prices. Gas fees on top of block rewards are what got the rewards so high.

In the last week the gas has been the lowest in quite some time. Lows of 20-40 gwei on weekdays!
See for yourself: https://www.gasnow.org/

I see 2 reasons for the low gas fees and ipso facto “downed” block rewards:
1. Sidechains or alternate chains like Polygon or BSC picking steam until the Ethereum chain sorts things out
2. Ethereum in its current bullrun is too valuable to be wasted on fees of a contract where the monthly returns were equal to deposit+withdrawal gas fees. People find it better to hold the coin instead of losing 0.05 ETH fees interacting with a contract that gives 0.5% APR per month

but if you are mining for fiat or btc you are getting more than 10 cents a mh due to price rise.

It is how you look at it when you cash out, I guess - per diem. But going by OP’s data, close to ~61TH/s was added between the 2 days. As long as he used the same sample space during these periods and there were no major shifts to any outliers, we could say it gives a true picture of closed ecosystem. Now we know the block rewards and no. of blocks, so the other major parameters are the gas fees paid and no. of transactions.

With fees down and congestion low, a good piece of the pie goes missing. You could say this resembles a taste of what miners have to live with after EIP1559. This is why they complain.

19th April
ETH price: $2,166.19
Avg. gas: 195.80 gwei
Rewards (OP data): 28220 ETH = $61.13M

2nd May
ETH price: $2,952.06
Avg. gas: 43.10
Rewards (OP data): 16719 ETH = $49.35M

[mak013]

And i`m count in another way. I`m counting my reward in ETH and in $ every week. And i can see that payouts decreased about 30% percent in ETH, but ETH price increased 50% in $. And in $ my profit increased about 10-15%. I can`t say more accurately, not enough time to understand.

[Philipma1957cellphone]

What you said. The miners were making record profits in March-April due to the atrocious gas prices. Gas fees on top of block rewards are what got the rewards so high.

In the last week the gas has been the lowest in quite some time. Lows of 20-40 gwei on weekdays!
See for yourself: https://www.gasnow.org/

I see 2 reasons for the low gas fees and ipso facto “downed” block rewards:
1. Sidechains or alternate chains like Polygon or BSC picking steam until the Ethereum chain sorts things out
2. Ethereum in its current bullrun is too valuable to be wasted on fees of a contract where the monthly returns were equal to deposit+withdrawal gas fees. People find it better to hold the coin instead of losing 0.05 ETH fees interacting with a contract that gives 0.5% APR per month

but if you are mining for fiat or btc you are getting more than 10 cents a mh due to price rise.

It is how you look at it when you cash out, I guess - per diem. But going by OP’s data, close to ~61TH/s was added between the 2 days. As long as he used the same sample space during these periods and there were no major shifts to any outliers, we could say it gives a true picture of closed ecosystem. Now we know the block rewards and no. of blocks, so the other major parameters are the gas fees paid and no. of transactions.

With fees down and congestion low, a good piece of the pie goes missing. You could say this resembles a taste of what miners have to live with after EIP1559. This is why they complain.

19th April
ETH price: $2,166.19
Avg. gas: 195.80 gwei
Rewards (OP data): 28220 ETH = $61.13M

2nd May
ETH price: $2,952.06
Avg. gas: 43.10
Rewards (OP data): 16719 ETH = $49.35M

But now eth is 3300 not 2950 so price rise.more and fixes issue somewhat.

Metroid thinks 4600 is top price as compared to ratios of btc to eth from 2017-2018 to btc-eth now.

And if you think eth behaves like doge top price is 16600.

Time will tell.

[D1NG0]

I find more value in Ethereum, so I keep it as it is

For me it’s simple math. I was mining last week and mining this week - did not cash out. When do you think I earned more?
Definitely last week

[philipma1957]

I find more value in Ethereum, so I keep it as it is

For me it’s simple math. I was mining last week and mining this week - did not cash out. When do you think I earned more?
Definitely last week

which means nothing unless your power company lets you pay with etc and you buy all your mining gear in eth.


But I respect anyone that wants to mine and hodl a coin.

anyone that complains the the coin is now worth 40x what it was last year in fiat and they earn the coin more slowly is living a very dangerous game especially with ETH.


ONE day mr v will die and in under 100 years yes

in under 50 years pretty likely

I won't guess lower numbers but if he dies today eth will crash and burn bigly as others fight to control it.
So to bet on long term hodl of eth is risky due to his control of it.

So first find out mr v's age

he is a kid 27
https://en.wikipedia.org/wiki/Vitalik_Buterin

read up on him and consider that ETH value will drop a ton if he dies.

Figure some defensive moves with your eth.

and plan accordingly.

[ummasek]

I have spend weeks to build my actual mining power.
At the end of building it, i was earning 10-12k$ in eth/zil.
After few months, it`s still same amount of dollars.
I just stoped buying GPU`s - prize was and is still to high.

I just wont to say, that mining and selling instantly or changing into other coin/fiat, for me is foolish.
I`m seting an order with +20% handicap. Takes time but always pays off.

I find more value in Ethereum, so I keep it as it is

For me it’s simple math. I was mining last week and mining this week - did not cash out. When do you think I earned more?
Definitely last week

Sorry. If the mining power was same in that time, you earned same amount each week - you did not cash it out.

[mak013]

I have spend weeks to build my actual mining power.
At the end of building it, i was earning 10-12k$ in eth/zil.
After few months, it`s still same amount of dollars.
I just stoped buying GPU`s - prize was and is still to high.

I just wont to say, that mining and selling instantly or changing into other coin/fiat, for me is foolish.
I`m seting an order with +20% handicap. Takes time but always pays off.

There are different ways to get money. For example - if you sell 50%  instantly 25% leave for year and 25% invest in over cryptocurrencies you can get more profit then in your way.
And if we remember ETH price in 2018-2019...
As for me - i decide to keep coins or sell every time then i get it. Some coins grows up faster than ETH and i sell ETH to buy such coins.

[D1NG0]

I find more value in Ethereum, so I keep it as it is

For me it’s simple math. I was mining last week and mining this week - did not cash out. When do you think I earned more?
Definitely last week

Sorry. If the mining power was same in that time, you earned same amount each week - you did not cash it out.

Actually, no. The point of OP’s post was that Ether rewards collected by pools have gone down over the week. This is true. And this in turn has affected the rewards to individual miners, along with the lower rewards due to the extra network difficulty/hashrate.

Whether you cashed out this week or at a high today, it is still going to be less than what you earned last week - fiat or otherwise.

[D1NG0]

I find more value in Ethereum, so I keep it as it is

For me it’s simple math. I was mining last week and mining this week - did not cash out. When do you think I earned more?
Definitely last week

which means nothing unless your power company lets you pay with etc and you buy all your mining gear in eth.


But I respect anyone that wants to mine and hodl a coin.

anyone that complains the the coin is now worth 40x what it was last year in fiat and they earn the coin more slowly is living a very dangerous game especially with ETH.


ONE day mr v will die and in under 100 years yes

in under 50 years pretty likely

I won't guess lower numbers but if he dies today eth will crash and burn bigly as others fight to control it.
So to bet on long term hodl of eth is risky due to his control of it.

So first find out mr v's age

he is a kid 27
https://en.wikipedia.org/wiki/Vitalik_Buterin

read up on him and consider that ETH value will drop a ton if he dies.

Figure some defensive moves with your eth.

and plan accordingly.

I look at operating costs this way. I ask myself a simple question. Would Ethereum grow at a rate that offsets your local bank’s lending rate? Over a year, it seems risky, but you know what the interest is going to be (that is one sane, reliable thing about centralized systems) and you know your op. cost.

So you mine away and have stop losses in place, just so you are not screwed over totally. But here’s where I see the truly great thing about crypto - maybe the very next week’s peak is enough to cover your year’s interest. Cash it out immediately, set it aside. Now as long as mining is profitable for your electricity rate, why cash out daily or even monthly? Cash out in portions at the end of any of the bull runs that happen during the year without worrying about making the bills.

I would definitely agree with you that it is never good to have everything in one basket and be utterly faithful. I hold and wait for the right time and have enough liquidation options in place so I am not holding a worthless bag. This is a golden rule everyone should follow. But as long as you believe in the currency and its real world application (unlike Bitcoin, which is ostensibly just the brand value) I don’t think anyone should live in fear of cashing out at every given chance. The loss of opportunity weighs too much.

[Metroid]

The loss of opportunity weighs too much.

When is at the beginning yes, when is at almost the end, no. When you see coins rising just because of hype then is time to cashout. Look at dogecoin, holding 48 billion market cap, last year it was 2000 times or more less. I guess they doge manipulators want to hit 0.99999 then they will crash to 0.0001 heeh and that is what a good bulltrap will be, this is the bull market and in the end of it bulls will make a huge bullltrap, people will lose 90 to 99% of their asset value, just like 2011, 2014 and 2018.

[D1NG0]

Couple of other changes I should have mentioned, that happened during the last few weeks - MEV bots and Gas Limit Raise

[Metroid]

I still have some altcoins, waiting them to hit the top of what I think based on bitcoin 79k which I think will be the absolute top this time. They will pump bitcoin one more time then dump everything to hehell. This is very close to top already. If people sell now, do not look back or buy back.

[D1NG0]

Loss of opportunity goes both ways when you are mining - because you cashed out and because you didn’t cash out

Won’t comment on the buyers of coins though, they have a lot more to worry about

[Commie]

ONE day mr v will die and in under 100 years yes

in under 50 years pretty likely

I won't guess lower numbers but if he dies today eth will crash and burn bigly as others fight to control it.
So to bet on long term hodl of eth is risky due to his control of it.

So first find out mr v's age

he is a kid 27
https://en.wikipedia.org/wiki/Vitalik_Buterin

read up on him and consider that ETH value will drop a ton if he dies.

Figure some defensive moves with your eth.

and plan accordingly.

Why so skeptical, especially basing on "what if he dies"? What if we all die before Mr. v. , especially comparing our age to his LOL. But then I agree with you on the point that it's risky when the whole project heavily depends on one man.

[philipma1957]

ONE day mr v will die and in under 100 years yes

in under 50 years pretty likely

I won't guess lower numbers but if he dies today eth will crash and burn bigly as others fight to control it.
So to bet on long term hodl of eth is risky due to his control of it.

So first find out mr v's age

he is a kid 27
https://en.wikipedia.org/wiki/Vitalik_Buterin

read up on him and consider that ETH value will drop a ton if he dies.

Figure some defensive moves with your eth.

and plan accordingly.

Why so skeptical, especially basing on "what if he dies"? What if we all die before Mr. v. , especially comparing our age to his LOL. But then I agree with you on the point that it's risky when the whole project heavily depends on one man.

What if he is arrested.
What if he is kidnapped.

Hey I am old enough to be his dad easy maybe not his grandad so the math is I die first, but I have the wealth (not that much) set up to go to people.

What does he have setup to protect all of the ETH holders ?  I have zero idea do you?  Maybe you know.

This is why I do not hold or use eth for any length of time.

I hodl coins like DOGE, LTC,BTC

I leverage the  eth I mine into the coins above.

[greg777777]

Made some updates. Added new columns Eth's reward for 1GH/s, Price for 1GH/s, Middle of Gwei and new row Eth's price.
After incredible decrease on 02.05.2021 (eth's reward by 40% and earnings by 20%), we have rising up eth's reward by ~15% relative to May 2 and a slight increase earnings by ~8% relative to April 19.
Screenshot for updates. https://i.imgur.com/MxdEEIU.jpg

Wow. This is new ASICS or it's F2Pool changed wallet on 0xf20b338752976878754518183873602902360704?
It was F2Pool (0x829bd824b016326a401d083b33d092293333a830) on May 5.
https://i.imgur.com/PKmzKu9.jpg

[Commie]

What does he have setup to protect all of the ETH holders ?  I have zero idea do you?  Maybe you know.

This is why I do not hold or use eth for any length of time.

I hodl coins like DOGE, LTC,BTC

I leverage the  eth I mine into the coins above.

Exactly as you said, neither of us have any idea so it can be either answer. Oh and I definitely wouldn't mind having a son like him 

[D1NG0]

Miners makin’ more money once again!
Gas rates back to ‘normal’

[greg777777]

Miners makin’ more money once again!
Gas rates back to ‘normal’

Yes! It's awesome!!!
https://i.imgur.com/e8gt0Zg.jpg
https://i.imgur.com/8NVrXPx.jpg

[Skinny48]

Now we are in the real mining season lol, a gtx1660 super now makes 9$ to 10$ per day while it was 4$ weeks ago, now I'm already regretting for getting out of mining too soon, I never saw this coming