Alt season + mining profits | Bitcointalksearch.org

fmz89

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Quote from: bitcoworld on November 06, 2021, 05:56:06 PM

Quote from: 7deadlyBTCIN on October 27, 2021, 03:15:18 PM

If we see huge alt market at the end of the year will this affect crypto mining profitability? I remember in 2017 where even a 30MH gives 10$ to miners due to loads of sell and buy in that time being

that would be insane with my 1.3 GH/s, I wish I started mining in 2017 Sad

Nope you wont, basically people will say "i wish know this earlier" which is at that time people will see as scam on crypto, then when crypto rise that people will saying the same and regretting old times, thats human, will doing those things all over again and again, only smart one who got chunk of fortune became early participant

Bitbtc8

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Not after EIP1559 is active already, do you know why we earned alot in 2017 when mining? It's because of gas fee since many buys and sells are happening on projects most especially ICO so gas fee went high and that became a bigger cake 🍰 for miners, today it's no more the same story

bitcoworld

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Quote from: 7deadlyBTCIN on October 27, 2021, 03:15:18 PM

If we see huge alt market at the end of the year will this affect crypto mining profitability? I remember in 2017 where even a 30MH gives 10$ to miners due to loads of sell and buy in that time being

that would be insane with my 1.3 GH/s, I wish I started mining in 2017 Sad

UserU

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Quote from: FP91G on November 06, 2021, 08:30:46 AM

In 2017, the fees on the Ethereum network were very small and we did not know what NTF tokens were.
Now commissions in blocks can be very large 10-100 coins, so miners get huge profits.
We earn only because of the high commissions on the network, and burning coins should increase the price of coins.

Back then, ETH gas fees did cost a fortune. It was hovering around 12+ AFAIK when I used to play CryptoKitties and transactions were congested due to the massive load.

FP91G

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Quote from: HashingTower on November 06, 2021, 06:26:15 AM

Not possible because eip1559 is in work already so even if ETH surge to 8,000$ the mining profitability won't be huge like that of 2017, do you know how many ETH have been burned already? The only coin that I think could be great for miners in future is Ergo hopefully it lives up to expectations

In 2017, the fees on the Ethereum network were very small and we did not know what NTF tokens were.
Now commissions in blocks can be very large 10-100 coins, so miners get huge profits.
We earn only because of the high commissions on the network, and burning coins should increase the price of coins.

HashingTower

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Not possible because eip1559 is in work already so even if ETH surge to 8,000$ the mining profitability won't be huge like that of 2017, do you know how many ETH have been burned already? The only coin that I think could be great for miners in future is Ergo hopefully it lives up to expectations

Bitcoin_Arena

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Quote from: fmz89 on October 29, 2021, 10:35:49 AM

2017 bullrun is crazy fast pump, and only few minier has the rigs, compared today are crowded, and eth already killed most of profit by burning fee mechanism

Not forgetting the so many proof of stake chains that have been created to 'solve" the Ethereum gas problem. In 2017, there weren't so many Ethereum alternatives like it is now days. Imagine if all that transaction traffic in Binance smart chain, Polygon, Tron, Polkadot, Avalanche etc was being channeled through Ethereum Network. Profits for the miners would have been so much insane

FloridaKid

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Things have changed bro, look around you how many PoW algorithm coins has swap? Dex/DeFI? Or NFTs? None so Devs have moved away from proof of work coins to others that are currently trending, only ergo and Ravencoin are strong for GPU miners like us besides ETH

UserU

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Quote from: fmz89 on October 29, 2021, 10:35:49 AM

most of altseason happen lately arent mineable coin, only eth&erg that quite profitable but lower profit compared 2017 bullrun

2017 bullrun is crazy fast pump, and only few minier has the rigs, compared today are crowded, and eth already killed most of profit by burning fee mechanism

No one expected Bitcoin to explode that time, damn it was exhilarating to see so much FOMO back then.

TheMimic1

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Quote from: FP91G on October 30, 2021, 07:02:23 AM

Quote from: BitKongy on October 30, 2021, 04:30:18 AM

Quote from: fmz89 on October 29, 2021, 10:35:49 AM

Quote from: 7deadlyBTCIN on October 27, 2021, 03:15:18 PM

If we see huge alt market at the end of the year will this affect crypto mining profitability? I remember in 2017 where even a 30MH gives 10$ to miners due to loads of sell and buy in that time being

most of altseason happen lately arent mineable coin, only eth&erg that quite profitable but lower profit compared 2017 bullrun

2017 bullrun is crazy fast pump, and only few minier has the rigs, compared today are crowded, and eth already killed most of profit by burning fee mechanism

Exactly 😂😂😂, nothing is going to be crazy for miners like that of 2017 ever again cos most new coins are now moving away from proof of work algorithm which is a big shame honestly

https://etherscan.io/chart/hashrate
If you look at the 2017-2018 hash rate statistics, it will be clear that the current bull run is much stronger.
In the 2nd quarter of 2018, the profit decreased greatly, and the hash rate decreased only after 6-7 months.
I think that if Ethereum changes the algorithm in Q2 2022, then hardware sales will begin in 6 months.

Really? Wow that's enough time to get back what you invested even if one Start buying graphic cards three months back or even last month, anyways I believe that this bull season might be the longest one we've ever seen yet but mind you the mother of all crash will take place after

FP91G

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Quote from: BitKongy on October 30, 2021, 04:30:18 AM

Quote from: fmz89 on October 29, 2021, 10:35:49 AM

Quote from: 7deadlyBTCIN on October 27, 2021, 03:15:18 PM

If we see huge alt market at the end of the year will this affect crypto mining profitability? I remember in 2017 where even a 30MH gives 10$ to miners due to loads of sell and buy in that time being

most of altseason happen lately arent mineable coin, only eth&erg that quite profitable but lower profit compared 2017 bullrun

2017 bullrun is crazy fast pump, and only few minier has the rigs, compared today are crowded, and eth already killed most of profit by burning fee mechanism

Exactly 😂😂😂, nothing is going to be crazy for miners like that of 2017 ever again cos most new coins are now moving away from proof of work algorithm which is a big shame honestly

https://etherscan.io/chart/hashrate
If you look at the 2017-2018 hash rate statistics, it will be clear that the current bull run is much stronger.
In the 2nd quarter of 2018, the profit decreased greatly, and the hash rate decreased only after 6-7 months.
I think that if Ethereum changes the algorithm in Q2 2022, then hardware sales will begin in 6 months.

BitKongy

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Quote from: fmz89 on October 29, 2021, 10:35:49 AM

Quote from: 7deadlyBTCIN on October 27, 2021, 03:15:18 PM

If we see huge alt market at the end of the year will this affect crypto mining profitability? I remember in 2017 where even a 30MH gives 10$ to miners due to loads of sell and buy in that time being

most of altseason happen lately arent mineable coin, only eth&erg that quite profitable but lower profit compared 2017 bullrun

2017 bullrun is crazy fast pump, and only few minier has the rigs, compared today are crowded, and eth already killed most of profit by burning fee mechanism

Exactly 😂😂😂, nothing is going to be crazy for miners like that of 2017 ever again cos most new coins are now moving away from proof of work algorithm which is a big shame honestly

fmz89

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Activity: 1766

Merit: 1002

Quote from: 7deadlyBTCIN on October 27, 2021, 03:15:18 PM

If we see huge alt market at the end of the year will this affect crypto mining profitability? I remember in 2017 where even a 30MH gives 10$ to miners due to loads of sell and buy in that time being

most of altseason happen lately arent mineable coin, only eth&erg that quite profitable but lower profit compared 2017 bullrun

2017 bullrun is crazy fast pump, and only few minier has the rigs, compared today are crowded, and eth already killed most of profit by burning fee mechanism

FP91G

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Activity: 1610

Merit: 1026

Quote from: 7deadlyBTCIN on October 27, 2021, 03:15:18 PM

If we see huge alt market at the end of the year will this affect crypto mining profitability? I remember in 2017 where even a 30MH gives 10$ to miners due to loads of sell and buy in that time being

for example, consider the AMD Radeon RX 480 8 GB video card with a hash rate of 30 Mh and a profit of $ 2.17 in essence.
If the price of ethereum doubles, then with the current hashrate and the cost of gas, the profit will also double.
10 dollars is possible within a few days, if the commission in the blocks is several dozen coins, but this is not worth hoping for.
https://whattomine.com/gpus/25-amd-radeon-rx-480-8gb?cost=0.1

7deadlyBTCIN

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If we see huge alt market at the end of the year will this affect crypto mining profitability? I remember in 2017 where even a 30MH gives 10$ to miners due to loads of sell and buy in that time being

Topic: Alt season + mining profits (Read 270 times)