Topic: Binance pool dropping payouts too fast. (Read 154 times)

Over the long term, yes, but it does go down as well. Heck it almost halved between May and July this year. We wouldn't have had such a good year if it hadn't.

The difficulty will only go up, but it can't keep doing 10% every month forever, as you are aware 10% of 150 isn't the same as 10% of 300, the higher the difficulty the harder the move, and then because shit happens we have been mining at a lower difficulty than we did 6 months ago (because of the China ban), so many things can happen.

You should also be aware of the fact that bitcoin price will also not maintain the crazy gains, if you compare all the previous cycles you will notice that with every cycle the gains shrink, it's called "diminishing returns", eventually running a mining business will be as difficult as running any other business, you will need the right resources and power price to compete.

And, you are wrong about "free energy has to be stolen", the world doesn't revolve around the U.S or a few other countries you know, where I live power is either free or almost free (below half a cent) depending on the place/capacity and a few other factors, eventually you will need to have that free power or a technology edge like owning a mining gear that is more effienct than the rest, or you won't be able to mine, but until that happens all you need to do is pick the right time to buy your mining gears, don't jump in at the peak of the cycle as most people do.

However if the difficulty increase is linear all miners whether are old new or acquired for free will be useless unless they run on free energy, which doesn't exist unless is stolen.
And with a steady increase of 10% a month is going to be soon.

So the only hope for the industry is a sharp decline in hashrate/price.

23%

17.615t + 23% = 21.66t which is what it is now.

And its going to go up another 4%-6% in a few days time.

The industry won't go bankrupt. Just people buying overly expensive equipment and using it on overly expensive electric tariffs.

BTW for a long time now ROI on most equipment is calculated by the manufacturers to be around a year at least. They raise their prices to keep that ROI figure.

Most of the industry is mining on equipment that cost a lot less than it does now, but then bitcoin was worth a lot less then, they took a gamble on that 12 month ROI and it paid off.

The hard truth is that around a year ago a 100TH/s S19-Pro cost under $2500.00 and bitcoing was only worth $10-13K but diff was 19.2th ROI was probably around a year.

There are people on here who have been mining bitcoin for almost a decade, there have been good and bad times, but people keep on going. Even when you are just breaking even, you keep going on the hope that bitcoin will be worth 10X what its worth today/last year/etc

I bet you a year ago no-one really believed that bitcoin would be worth 6x what it was then. But it is.

I checked on Blockchain.com and it went up a 20%, just like the payout drop.

Then I guess the calculator on f2pool is inaccurate and BTC miners are not profitable. None is.

If the dificulty increases 20% every 2 months all BTC miner existing now will be useless in less than a year unless BTC price catches up, meaning at least 20% every 2 months.

Is not a risk, it is sure that the whole insdustry will go bankrupt next year.

How is it possible?

You might be experiencing the effect of difficulty increase. The difficulty of the network has been steadily increasing the past two months because network hash rate has also been increasing. That drop in expected payouts would likely be experienced on any pool.

Lots of risks in mining and the profit can fluctuate.

You know that difficulty has gone up 23% since the beginning of September right?

Dear All

I have been mining for 2 months now and I choosed the miners and the hosting based on what I could find and what was profitable using the f2pool calculator.
What I did I took into account the difficulty increase and I made a thorough search on those hosting services which could make the miners I found ROIable.

However after 2 months on the binance pool I experienced a drop in payouts way faster than expected, something which could potentially make all unROIable.

Does anyone have experience on how payouts work and if there is a pool like f2pool or via btc which doesn't have this dramatic drop?

I went from 0.0000070929 BTC/TH in september to 0.0000057452 BTC/TH now which is a good -20% although the BTC went up a roughly 37% so it is not immediately noticeable.
However I interpolated the function which expresses all payouts daily and the forecast is terrible, I have to say I quickly did it with Excell so probably it interpolates to a linear which could be not the real approximation.

The function presents sudden drops and it doesn't recover with falling prices, although it is kind of inverted of BTC price but not quite.

Can anyone with more experience tell me if it is normal or maybe not all pools work this way?

If the function is linear we will all be in trouble soon, especially those who purchased s19 pro for 10g each.
Probably the future is in altcoins.