BTC made it to 50k and ETH pumps but mining reward sucks

FP91G

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Quote from: Skinny48 on August 23, 2021, 03:03:17 AM

Why is Ethereum mining not growing in profits anymore even while ETH is over 3200$ right now, this morning BTC made it to 50k already, does this mean that increase in value have nothing to do with profitability anymore?

There is a price chart and there is a hash rate chart.
If the price growth is much faster than the network hash rate growth, then the miners will get more profit. If the hashrate of the network grows much faster than the price of the coin, then the profit may decrease.
You cannot influence the price and hash rate, so you need to be happy with the profit you have.

swogerino

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Quote from: BitKongy on August 24, 2021, 01:33:44 AM

Things are changing for good today, now 100MH is giving me 10.5$ which was better than 100MH at 7.3$ days ago, the market is still very bullish too so it's all good, BTC might probably be stabilized at 50k to 50+

I don't know what calculator you use but most probably it is wrong.Right now my 300 Mhsh rig is giving just a bit over 22 dollars while with your calculations it should give me 32.5 dollars.The difficulty has again increased today by passing the 8 P that was yesterday and is now at 8.03 P one of the highest levels.I am happy though with 0.00685 Ethereum daily

BitKongy

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Things are changing for good today, now 100MH is giving me 10.5$ which was better than 100MH at 7.3$ days ago, the market is still very bullish too so it's all good, BTC might probably be stabilized at 50k to 50+

adaseb

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Seems almost every second thread in the mining section has some new person discovering there is something called difficulty.

Basically the more people mine the less profit everyone gets. Since BTC was $50K last there were less miners of ETH on the network, so even if price is the same your profits won’t.

ETH is even more difficult to calculate profitability because most of the miner revenue from April was by transaction fees. Remember the days of 100 Gwei. Those were largely why you made so much. Less transactions and less profit. And now with London fork even more difficult to calculate profitability.

Metroid

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Xtreme Monster

Thieves are doing their jobs, telling the media, gov currencies will depreciate, thieves will tell the media to broadcast around the world using varied ways in hopes to get idiots to buy what they are saying. This is the last time they have to steal money from sheeps/idiots, so get ready trolls, we are going up and above and then when idiots buy a lot of crypto then is time to crash everything and go for the neck of those idiots, make sure you sell your coins to idiots, do not hold the bag in the end.

cvson_vip

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Thank you for letting me learn

Bitcoin_Arena

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฿itcoin for all, All for ฿itcoin.

Two factors in play here;

1. The Ethereum network mining difficulty is almost back up at its all-time high;

2. The gas cost is now low as compared to first half of the year which means, a side from the block rewards the miners won't get as much from the ether paid in transaction fees as it was when the gas fees skyrocked earlier on

Metroid

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Xtreme Monster

Quote from: BitKongy on August 23, 2021, 11:13:13 AM

We need to stop comparing today's crypto market with past years, crypto keeps getting better than the past years so look forward to something new, to me this is the longest crypto bull market ever, it's way longer than I expected, November and December of 2017 was when real pump began for all altcoins and shitcoins combined, this lasted till February when things started going down and down, I remember this perfectly because that was when I started mining electroneum coin

Funny, history repeated last 3 cycles and you want people to stop saying what happened? people are not fools, if there is something that makes them very awry of what can happen anytime is what history showed us and not seeing what happened last 3 cycles is stupid if you are an avid trader and has a lot of money into this, is like saying, "hey is okay falling for a trap, don't worry about loss of money", even stock market is not as dangerous as the cryptomarket.

swogerino

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Ethereum network difficulty is near 8 P at 7.97 P right now which is the same as it were in the April-May bull run.The only difference is the London Hard fork which burns a lot of fees which is now translated into less rewards for miners.I know it sucks but Ethereum is still the best thing to mine even with low rewards and it still makes me about 20-22 dollars a day with 300 Mhsh processing power.

flip4flop

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If you think rewards are bad now you must be new to this. The returns right now are solid even with the rise in difficulty. You just need to keep on mining and holding if you are a long term bull on crypto and ETH in general. What you are pulling in now is looking great as we approach the return all time highs.

BitKongy

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Quote from: Metroid on August 23, 2021, 10:49:55 AM

Quote from: Gunday_07 on August 23, 2021, 10:11:28 AM

I'm confused, isn't your 79k prediction base on media trap too? Either media pump or not 79k is your target to sell and leave the market right? Or BTC will still have to go down again before tasting 79K ? Anyways visa isn't even taking the last in crypto space today as per my investigation, even if bear market do come crypto success is just getting started

Yes media trap is included too, last year the first huge crash was 2nd of September, maybe this year too? then back up again and then November/december the real hehell crash just like 2014? I wonder. This is looking like 2014 all over again.

We need to stop comparing today's crypto market with past years, crypto keeps getting better than the past years so look forward to something new, to me this is the longest crypto bull market ever, it's way longer than I expected, November and December of 2017 was when real pump began for all altcoins and shitcoins combined, this lasted till February when things started going down and down, I remember this perfectly because that was when I started mining electroneum coin

Metroid

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Quote from: Gunday_07 on August 23, 2021, 10:11:28 AM

I'm confused, isn't your 79k prediction base on media trap too? Either media pump or not 79k is your target to sell and leave the market right? Or BTC will still have to go down again before tasting 79K ? Anyways visa isn't even taking the last in crypto space today as per my investigation, even if bear market do come crypto success is just getting started

Yes media trap is included too, last year the first huge crash was 2nd of September, maybe this year too? then back up again and then November/december the real hehell crash just like 2014? I wonder. This is looking like 2014 all over again.

Gunday_07

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Quote from: Metroid on August 23, 2021, 09:05:42 AM

50k is for the media to do their job and hype it, so idiots can go and think btc will go to 100k and then buy now, this 50k is a media trap mentality, my long term target for this cycle still in play, 79k then hehell.

I'm confused, isn't your 79k prediction base on media trap too? Either media pump or not 79k is your target to sell and leave the market right? Or BTC will still have to go down again before tasting 79K ? Anyways visa isn't even taking the last in crypto space today as per my investigation, even if bear market do come crypto success is just getting started

Metroid

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Xtreme Monster

50k is for the media to do their job and hype it, so idiots can go and think btc will go to 100k and then buy now, this 50k is a media trap mentality, my long term target for this cycle still in play, 79k then hehell.

miner29

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Quote from: Skinny48 on August 23, 2021, 03:03:17 AM

Why is Ethereum mining not growing in profits anymore even while ETH is over 3200$ right now, this morning BTC made it to 50k already, does this mean that increase in value have nothing to do with profitability anymore?

Your basic premise is wrong. Market sets value not miners.

anu1908

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dude, just how much do you expect to make with your rig? increase in value do contribute in profitability, but you can't just ignore other factors. that's just wishful thinking.

HashingTower

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$CYBERCASH METAVERSE

Mining reward is very good still, to see a good change ETH needs to go higher and don't forget that mining difficulty will keep increasing too which will keep affecting miners reward too but things are still pretty good

deadsix

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Fail to plan, and you plan to fail.

Mining reward sucks??? Wow. We are in one of the most profitable period in years and "why no lambo in two days" threads everywhere. Damn impatient noobs.

fmz89

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Quote from: Skinny48 on August 23, 2021, 03:03:17 AM

Why is Ethereum mining not growing in profits anymore even while ETH is over 3200$ right now, this morning BTC made it to 50k already, does this mean that increase in value have nothing to do with profitability anymore?

diffuculty still growing on the network while chinese miner back online again, now no tips from transaction, only base rewards thats fix value, when the value of eth increase same as diffuclty, wait for while after eth break 4k$ you gonna see profit gain, Grin

Skinny48

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Why is Ethereum mining not growing in profits anymore even while ETH is over 3200$ right now, this morning BTC made it to 50k already, does this mean that increase in value have nothing to do with profitability anymore?

Topic: BTC made it to 50k and ETH pumps but mining reward sucks (Read 268 times)