Am I Wrong

[StormHawk]

For the past hours now mining become profitable again, 100MH is now making 9.2$ per day, isn't this the sign of a massive sell-off? I can see that many altcoins are diving very deep and the market isn't looking very good, since ETH is also down at the 2755$ range I expect profit to go lower too but the gas fee became insanely high again meaning people are selling and getting out......i smell the return of 2018.

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[skablast]

no. its not a sign of sell off.Quite the opposite if I can say
Some big sized eth block have moved thus those results in mining. Network is stable at 1 PHI, so almost nobody left

[VRExpress]

It's the freaking bored ape yacht club, they are launching their NFTs called The OtherSide so im sure that the Ethereum network will be so busy today because of this, do not expect this to last longer though, unfortunately, we may never see huge profits like 2021 from mining again, where one gtx 1660ti is giving 12$ per day for a whole week.

[FP91G]

For the past hours now mining become profitable again, 100MH is now making 9.2$ per day, isn't this the sign of a massive sell-off? I can see that many altcoins are diving very deep and the market isn't looking very good, since ETH is also down at the 2755$ range I expect profit to go lower too but the gas fee became insanely high again meaning people are selling and getting out......i smell the return of 2018.

The Ethereum hashrate is still growing little by little, so it’s not worth talking about big sales of video cards.
A temporary large profit may be due to large commissions in blocks, now the price of gas is very small.
https://etherscan.io/chart/hashrate

[Pterosaur]

For those who don't know, whenever a launch of new NFT takes place on a popular project millions of people will want to get their hands of it fast so they use any gas fee they can just to Mint the tokens NFTs and the network will be congested, they will be forced to pay higher fees for their transactions to go through.

[BitKongy]

Go home  miners, its over, a friend of mine got 10x of what he used to mine per day using ethermine, many large blocks are solved by this pool hours ago and also flexpool solved 5 huge blocks containing over 200 ETH, congrats to all those that got the big gains in just three hours, at least we have something to say about the end of ETH mining.

[wheelz1200]

For the past hours now mining become profitable again, 100MH is now making 9.2$ per day, isn't this the sign of a massive sell-off? I can see that many altcoins are diving very deep and the market isn't looking very good, since ETH is also down at the 2755$ range I expect profit to go lower too but the gas fee became insanely high again meaning people are selling and getting out......i smell the return of 2018.

Well yeah you might be right we are seeing another 2015 or 2018 sell off but you can't infer that directly from mining profitability.  There are too many factors that drive that to infer anything from it.  The market in general is in a sell off, just a little slower than I expected but it's coming.

[Coinfarm ventures]

It's the freaking bored ape yacht club, they are launching their NFTs called The OtherSide so im sure that the Ethereum network will be so busy today because of this, do not expect this to last longer though, unfortunately, we may never see huge profits like 2021 from mining again, where one gtx 1660ti is giving 12$ per day for a whole week.

If you thought 2021 was a very profitable mining year...
You don't remember what the gold rush of 2017 was like. You could buy RX 480's for $320 and make $6/day of profit.
But nothing compares to the Great Dogecoin Gold Rush of 2013, where a $250 Radeon HD 7870 video card made $10 per day of profit.

[adaseb]

Today was a crazy day with ETH. Like the above poster said it was the BAYC NFT and the transactions fees were nuts. I think at one point it was like 4000 GWEI and something like $70M worth of ETH burned today alone due to these transactions.

People are saying they were handled poorly and could of been some gas savings if they did the transactions a little different however it was done in a poor way and so much ETH was wasted on fees alone today.

Good for miners I guess.

[FirmWars]

Today was a crazy day with ETH. Like the above poster said it was the BAYC NFT and the transactions fees were nuts. I think at one point it was like 4000 GWEI and something like $70M worth of ETH burned today alone due to these transactions.

People are saying they were handled poorly and could of been some gas savings if they did the transactions a little different however it was done in a poor way and so much ETH was wasted on fees alone today.

Good for miners I guess.

It was a bit over 6000 gwei lol, something like this will always happen once in a blue moon, every time a popular project plan to introduce a NFT there will be a gold rush and the price will spark up madly, its a shame that this doesn't stay around for a long time, my rig was even off at the time .

[Bitcoin_Arena]

It was a bit over 6000 gwei lol, something like this will always happen once in a blue moon, every time a popular project plan to introduce a NFT there will be a gold rush and the price will spark up madly, its a shame that this doesn't stay around for a long time, my rig was even off at the time .

Imagine!

From a user's perspective, that was nuts! I am a very good supporter of Ethereum as a coin, I even hold some long term but I have never used the network to transact in a very long time. Probably for over a year and some months, yet I do lots of transactions weekly.

[JangoUnchained]

Is this ever going to happen again in future? Probably but its still not something to keep expecting because this high return always happen in a very short period of time, only those with 1GH and above are able to make high gains in just two hours, I am desperately hoping that one day crypto mining will make so much sense again.

[kaya11]

Today was a crazy day with ETH. Like the above poster said it was the BAYC NFT and the transactions fees were nuts. I think at one point it was like 4000 GWEI and something like $70M worth of ETH burned today alone due to these transactions.

People are saying they were handled poorly and could of been some gas savings if they did the transactions a little different however it was done in a poor way and so much ETH was wasted on fees alone today.

Good for miners I guess.

It was a bit over 6000 gwei lol, something like this will always happen once in a blue moon, every time a popular project plan to introduce a NFT there will be a gold rush and the price will spark up madly, its a shame that this doesn't stay around for a long time, my rig was even off at the time .

It is better that you don't turn off your rig as much as possible for a brief moment like these. It is once in a blue moon, or we will never be able to experienced it again. I missed those days were mining is everything to me. So in order for us to see something like these, another ape nft should be launched, or may better than that.

[Takyeon]

Another PoW coin will have to fight for ETH place once the merge is completed, I think it's probably Ergo or Flux, these two coins will need a high level of exposure and also good funding to rise above others and maybe new coins will come after, Kadena for example is making lots of sense too.

[FP91G]

Another PoW coin will have to fight for ETH place once the merge is completed, I think it's probably Ergo or Flux, these two coins will need a high level of exposure and also good funding to rise above others and maybe new coins will come after, Kadena for example is making lots of sense too.

The commission in ethereum blocks is sometimes 100 times the block reward when ethereum users mint new nft pictures. There is no such hype in your coins and they will not be able to accept even 20% of the current ethereum hashrate, due to a small profit.