ETC block reduction, future of mining

S3300

member

Activity: 280

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Quote from: Coinfarm ventures on March 24, 2022, 12:57:10 AM

Quote from: Metroid on March 23, 2022, 07:10:01 PM

The way I see is that as etc gone up, it will not be going anymore up till other coins go up too, so my theory is if you mined or have etc then sell or stop mining it, mine or buy other coins, you will have better chances to profit a little bit more.

This is exactly what happened in the past 24 hours. My Tesla P100 rig on Minerstat auto-switched from ETC to ERG last night. ERG profit is currently $1.73/day while ETC is $1.51/day, mainly because ETC uses more power.

But the effect you're describing can work in reverse. Once ETH goes to zero after PoS, profit on other coins will crash too. That is when 90% of miners will go bankrupt and panic selling video cards.

Flux is better than ETC I will rather convert all my ETC to flux if that's the only coin to mine after ETH is not mineable anymore, even Ergo seems better than ETC.

Coinfarm ventures

full member

Activity: 182

Merit: 152

Quote from: Metroid on March 23, 2022, 07:10:01 PM

The way I see is that as etc gone up, it will not be going anymore up till other coins go up too, so my theory is if you mined or have etc then sell or stop mining it, mine or buy other coins, you will have better chances to profit a little bit more.

This is exactly what happened in the past 24 hours. My Tesla P100 rig on Minerstat auto-switched from ETC to ERG last night. ERG profit is currently $1.73/day while ETC is $1.51/day, mainly because ETC uses more power.

But the effect you're describing can work in reverse. Once ETH goes to zero after PoS, profit on other coins will crash too. That is when 90% of miners will go bankrupt and panic sell video cards.

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

Quote from: Coinfarm ventures on March 23, 2022, 02:31:49 PM

The miners who have probably made the most profit are those who mined ETC over the past 1-2 months when difficultly was low, then sold all their coins now. This is the problem with 'profit switching' algorithms. They only look at current price / difficulty instead of future price / difficulty. I know it's impossible to time the market, but if one thinks a certain coin will go up in the future, it's probably good to mine & HODL at least for 1 month.

The way I see is that as etc gone up, it will not be going anymore up till other coins go up too, so my theory is if you mined or have etc then sell or stop mining it, mine or buy other coins, you will have better chances to profit a little bit more.

Coinfarm ventures

full member

Activity: 182

Merit: 152

The miners who have probably made the most profit are those who mined ETC over the past 1-2 months when difficultly was low, then sold all their coins now. This is the problem with 'profit switching' algorithms. They only look at current price / difficulty instead of future price / difficulty. I know it's impossible to time the market, but if one thinks a certain coin will go up in the future, it's probably good to mine & HODL at least for 1 month.

FP91G

legendary

Activity: 1834

Merit: 1131

Quote from: BitKongy on March 22, 2022, 11:01:01 PM

ETC (Ethereum Classic) will soon get block reward reduction to 2.56 approximately on April 2022 do you thinks that ETC value will increase from here and now that ETC is the better looking altcoin that miners can switch too what do you have in mind about this?

Look at the Ethereum Classic price dynamics over the past week. +80% is a very good growth, but it is possible that this news will no longer affect the price. Multi-mining operating systems such as nicehash will quickly solve problems with increased profits on the same algorithms.

sxemini

member

Activity: 1558

Merit: 69

Quote from: BitKongy on March 22, 2022, 11:01:01 PM

ETC (Ethereum Classic) will soon get block reward reduction to 2.56 approximately on April 2022 do you thinks that ETC value will increase from here and now that ETC is the better looking altcoin that miners can switch too what do you have in mind about this?

Please write with punctation next time.

And no knows what happen. Every time such question - can you use your brain to think logical?

1 month ago for many people ETC is shitcoin - ETC raise in price - is ETC the next big thing? This what happen every time Roll Eyes

Make your own research and do own decision, no one has a glass sphere.

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

Everything is getting reduction supply, I guess those devs believe this bullrun will keep going and we will see another 10x move, ergo same thing, still 66 coins but in 5 years will get down to only 3 coins per block, insane move because if there is no profit, people will not mine it, many coins died this way.

BitKongy

member

Activity: 405

Merit: 19

ETC (Ethereum Classic) will soon get block reward reduction to 2.56 approximately on April 2022 do you thinks that ETC value will increase from here and now that ETC is the better looking altcoin that miners can switch too what do you have in mind about this?

Topic: ETC block reduction, future of mining (Read 168 times)