Hi All
Worry about the recent volatility
Basically I bought my first rig with 6x gtx1060 3gb mining a week ago, cant find any ati cards (man took me few days with setting up Win10, latest nvidia drivers caused my issues)
getting about 113mhs stock, 138mhs when oc.
running stock about speed for few days already stable
was mining for about for about a week now, at the beginning it was great eth price keeps going up, things looks promising so i went and just bought 3-4 more rigs, all parts still in box, not install yet, panicking now, not sure if i should dump the hardware, or keep mining.
things i realized in the pass 2 days
1) now im worry coz of recent volatility of bitcoin and eth
2) actual hashrate is always lower then reported hashrate, need to take away another 10% or so. Use average effective hashrate to do your projections
3) difficulty is always going increase, currently at an exponential rate, which effects mining, i knew this would be the case, but just didnt fully understand how bad it is.
only fully reliased the above issues after investin in my 3-4 rigs
and i miss calculated my first initial rig, as the difficulty calculated using websites uses a a constant value over the last 24h to project to next month/year which i found out that is not the case, i been tracking my eth mined per month return it getting lower every day.
this is not a problem if eth price keeps rising -_-.
ive just 2 of my rigs up on offer to sell, i got plenty of people wanting to buy.
What should i do? I still very new and trying to read as much as possible.
I probably keep at least 1 rig for my self. Maybe sell of the rest.
How is the difficulty calculated? Initually the website calculated my return of 2.3 eth per month
a week later its now 1.6-1.8, thats a huge drop, plus the price of eth droping, thats why im worry now.
For all those eager people that want to buy up all my rigs, am i missing something or are they?
Worse case scenario my first rig
few 6-12 months I can mine 1 ETH per month? and the price per eth is 200, i just covering my power cost
if 6-12 months, and my single rig can mine 1 ETH / month?, the price needs to be 800 to be same as my initial roi estimate rate of about 32% per month.
or will it go to 1000-2000 dollars per ETH, close to BTC as some speculated.
Still reading up on this POI thing too....
but if someone can point to some good sources on POI and difficulty that would be great
appreciate the time reading my post
This one should be a clue
https://etherscan.io/chart/difficulty