The only two coins with low mining difficulty

[Widdop37]

2miners pool calculator shows that only Ergo and Firo mining difficulty is down, I never expected this so soon or there is a catch? What do you think about these projects for mining and holding for long term? No BTC and ETH just these two or other PoW alts.

[1715137581]

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[1715137581]

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[1715137581]

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[1715137581]

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[FP91G]

Have you lost profit on holding worthless coins yet?
I've been losing and I advise you to mine ethereum now, because mining will probably end soon, and then choose any other coin. I would choose ethereum classic. Its price may still rise.

[swogerino]

2miners pool calculator shows that only Ergo and Firo mining difficulty is down, I never expected this so soon or there is a catch? What do you think about these projects for mining and holding for long term? No BTC and ETH just these two or other PoW alts.

It shows that no one really cares about those coins,maybe in the future they will increase in value and if that is your opinion you can change your mining equipment to mine them.Personally I am very happy mining Ethereum and it is still profitable even with 0.09 dollars cost per kilowatt here where I am,not much but still profitable and I get always paid in Bitcoin,if the price of Bitcoin goes up I will be happy,now is the time to collect.

[ZeeeN]

2miners pool calculator shows that only Ergo and Firo mining difficulty is down, I never expected this so soon or there is a catch? What do you think about these projects for mining and holding for long term? No BTC and ETH just these two or other PoW alts.

if you want that 2 coins i think best way is mine ETH and sell it or swap to buy coins you like

[adaseb]

The difficulty is down probably because it’s profitability when down with respect to other coins. Generally most POW coins produce similar profits. There are many farms out there that switch mining based on profits and this is usually why you should just stick to mining ETH.

I also wouldn’t hold a coin like this long term. We are in a bear market and many alts are already 90% loss and will probably keep going down. They aren’t a good hold at all.

[Coinfarm ventures]

I also wouldn’t hold a coin like this long term. We are in a bear market and many alts are already 90% loss and will probably keep going down. They aren’t a good hold at all.

That is not correct. The price in ETH/BTC of ERG, FLUX and CFX has either been stable compared to 30d ago or increased. In other words, ETH and BTC have fallen in value relative to these small coins. So it was a better idea to own them than ETH or even BTC.

https://www.coingecko.com/en/coins/ergo
https://www.coingecko.com/en/coins/flux-zelcash
https://www.coingecko.com/en/coins/conflux

There are many farms out there that switch mining based on profits and this is usually why you should just stick to mining ETH.

Actually this is not true for most smaller GPU coins on Whattomine. Difficulty (which is tied to revenue) fluctuates by +/- 20% in a 24 hour timespan for most of them. I have made noticeably more profit on my Tesla P100 rig by using profit-switching on a group of 3 coins, such as ERG+FLUX+ETC. It switches coins every 3 hours on average, so the downtime from transitioning is just 1%. The gains more than compensate for that 1% loss. I use it for 'difficulty switching' because I want to HODL the coins.

Hell, I can already get much more profit than ETH on certain models like Turing or Pascal simply by sticking to FLUX or YEC.

The one-trick-pony video cards which have been ETH-only, especially the RTX 3090 or RX 5700, have dropped in price like a rock over the past 6 months or superseded by the RTX 3080 Ti, 3080 12GB and 3090 Ti. They have been the WORST models to own.

if you want that 2 coins i think best way is mine ETH and sell it or swap to buy coins you like

The best way is to always mine the most profitable coin and trade it for the ones you want to HODL

It shows that no one really cares about those coins

I remember when Ethereum was the coin 'nobody cared about' because the community either focused on ASICs or DASH/Vert/XMR. Big mistake! Nobody can predict which one will become the biggest, so I don't see what is wrong with owning a basket of different small coins.

This short term 'fiat profit ROI' mindset is why most miners never get rich while investors or developers become millionaires. That's why we miners have been losing our voice in the crypto ecosystem.

[OgNasty]

I also wouldn’t hold a coin like this long term. We are in a bear market and many alts are already 90% loss and will probably keep going down. They aren’t a good hold at all.

That is not correct. The price in ETH/BTC of ERG, FLUX and CFX has either been stable compared to 30d ago or increased. In other words, ETH and BTC have fallen in value relative to these small coins. So it was a better idea to own them than ETH or even BTC.

30 days is nothing.  It doesn't take much to pump these shitcoins up since there is basically no liquidity.  Long term though I doubt they'll see any sort of gain.  This is because nobody is using them for anything that I'm aware of.  If the only reason you're buying or mining a coin is because you think some idiot will come along later and pay you way more for it, you're gambling your finances on the greater fool theory.  That works great until you can't find a greater fool, then you're left holding a worthless bag which is bad, but missing out on investing in something useable or stacking sats to chase gains with the greater fool theory is a horrible way to miss out on your chance at growing your portfolio's value.  You're here.  So you're early to crypto.  Don't squander that early advantage chasing get rich quick promises to fools.

[kensaii]

I also wouldn’t hold a coin like this long term. We are in a bear market and many alts are already 90% loss and will probably keep going down. They aren’t a good hold at all.

That is not correct. The price in ETH/BTC of ERG, FLUX and CFX has either been stable compared to 30d ago or increased. In other words, ETH and BTC have fallen in value relative to these small coins. So it was a better idea to own them than ETH or even BTC.

30 days is nothing.  It doesn't take much to pump these shitcoins up since there is basically no liquidity.  Long term though I doubt they'll see any sort of gain.  This is because nobody is using them for anything that I'm aware of.  If the only reason you're buying or mining a coin is because you think some idiot will come along later and pay you way more for it, you're gambling your finances on the greater fool theory.  That works great until you can't find a greater fool, then you're left holding a worthless bag which is bad, but missing out on investing in something useable or stacking sats to chase gains with the greater fool theory is a horrible way to miss out on your chance at growing your portfolio's value.  You're here.  So you're early to crypto.  Don't squander that early advantage chasing get rich quick promises to fools.

Ha, 'the greater fool theory'. You wouldn't believe how it was all the same mentality from PoW miners to those NTFs holders. That they could always sell their thing to the next idiot with a higher price since 'the line just goes up, okay?' or 'there are never ending of idiots'. Hey, if they want to put their money or hash power waste to any random PoW shitcoins, that they think if higher network hash means higher price then let them be.

[Coinfarm ventures]

That works great until you can't find a greater fool, then you're left holding a worthless bag which is bad, but missing out on investing in something useable or stacking sats to chase gains with the greater fool theory is a horrible way to miss out on your chance at growing your portfolio's value.  You're here.  So you're early to crypto.  Don't squander that early advantage chasing get rich quick promises to fools.

We talk about the 'death of fiat money' all the time, yet most miners continue to sell for fiat on a daily/weekly basis even during a bear market, missing out on the early adopter advantage that you mentioned. Most don't even sell it for BTC. If anything, investors who just buy the coin are the 'greater fools' because at least the value of GPU mining equipment can't go to zero.

There were plenty of folks calling ETH a 'shitcoin' in 2015/2016 because it was 'most likely to fail' like the other altcoins at the time. The same 'greater fool theory' can be applied to BTC or ETH; many people argue that BTC or ETH are not actually used for any real business purpose. Most of my portfolio is BTC and I do not invest more than 10% in any altcoin.

they think if higher network hash means higher price then let them be.

I do not believe that myth at all. I care most about the technology behind the coin and how much cheaper it is to mine vs. to buy that coin.

Hey, if they want to put their money or hash power waste to any random PoW shitcoins

I always mine the most profitable coin for the hardware then trade it for the coins I want to invest in. ERG/FLUX/YEC/EPIC are currently the best ones for my older rigs.

[gamstan]

I think you should mine some "bigger" coins. I think the market will grow up again.
Cheers!

[bitquad]

2miners pool calculator shows that only Ergo and Firo mining difficulty is down, I never expected this so soon or there is a catch? What do you think about these projects for mining and holding for long term? No BTC and ETH just these two or other PoW alts.

if you want that 2 coins i think best way is mine ETH and sell it or swap to buy coins you like

Why not mine ETH and keep it? That's what I do. You mine and swap or sell and you lose some value via fees and also potentially incur a tax bill if you do it on a KYC exchange. I am personally bullish on Ethereum overtaking Bitcoin eventually.

[wheelz1200]

2miners pool calculator shows that only Ergo and Firo mining difficulty is down, I never expected this so soon or there is a catch? What do you think about these projects for mining and holding for long term? No BTC and ETH just these two or other PoW alts.

That's probably because their price doesn't justify throwing hash at it.  Just because they are the only 2 coins on that pool where difficulty is down doesn't really conclude anything other than that people are removing their efforts away from it.  I don't get what you are getting at here what's your point?