How does bear moves affect mining? | Bitcointalksearch.org

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

Quote from: adaseb on February 25, 2021, 12:19:35 AM

Quote from: menoiazei on February 23, 2021, 01:55:16 PM

I guess prices drop and mining rewards get higher but
How does it work with mining of bitcoin and other alt coins
when prices dropping and people panic selling ??

The reason why your mining rewards went up when prices dropped is because there was congestion on the ETH network and people were paying 5x the normal miner fee rate to get their transaction going. People assumed ETH would keep going up but it stopped and hence they are rushing to send their ETH to their exchange to take profits.

However if every does this at once the network is congested so the really desperate people will increase the gas fee, and as a result more people increase the gas fee and the reason why the fees are crazy high. So your ETH lost value but you got more rewards as a result.

This is not good because eventually the fees will go down and you will end up making less.

Trolls need to understand that on bear market, those gas fees are non-existent because there are no congestions. So this 1559 eip 99% only works on bull market, miners benefit most from the gas fees on starting and end of the bull market and when there are significant price crashes or rebounds.

adaseb

legendary

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Quote from: menoiazei on February 23, 2021, 01:55:16 PM

I guess prices drop and mining rewards get higher but
How does it work with mining of bitcoin and other alt coins
when prices dropping and people panic selling ??

The reason why your mining rewards went up when prices dropped is because there was congestion on the ETH network and people were paying 5x the normal miner fee rate to get their transaction going. People assumed ETH would keep going up but it stopped and hence they are rushing to send their ETH to their exchange to take profits.

However if every does this at once the network is congested so the really desperate people will increase the gas fee, and as a result more people increase the gas fee and the reason why the fees are crazy high. So your ETH lost value but you got more rewards as a result.

This is not good because eventually the fees will go down and you will end up making less.

Temido2222

jr. member

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Even if demand for GPUs dips due to a bear market, there's still a silicon shortage.

FP91G

legendary

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Quote from: menoiazei on February 23, 2021, 01:55:16 PM

I guess prices drop and mining rewards get higher but
How does it work with mining of bitcoin and other alt coins
when prices dropping and people panic selling ??

If we analyze the fall in cryptocurrency prices in 2018, then miners began to massively sell ASICs and video cards 4-6 months after a strong decline in profit or the beginning of losses. If the profit is low for several weeks, then this will not change the situation on the market for mining equipment.

TanakabZX

member

Activity: 504

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Quote from: batsonxl on February 24, 2021, 04:27:06 AM

Quote from: CashbackLover on February 23, 2021, 03:31:59 PM

Quote from: JayDDee on February 23, 2021, 02:32:27 PM

Quote from: menoiazei on February 23, 2021, 01:55:16 PM

I guess prices drop and mining rewards get higher but
How does it work with mining of bitcoin and other alt coins
when prices dropping and people panic selling ??

Hopefully it brings GPU prices down.

Graphic cards price aren't coming down as far as mining remains profitable, even if ethereum turn 500$ again graphic cards price will only come down unless mining is not profitable anymore, I'm looking forward to the EIP1559 launch, this will at least solve the high gas fee issue

cards prices will go down if profit 30mhs=0.3$

I've never seen 30MH producing 0.3$ per day before, that's unreal, the lowest I've seen 30MH goes was 0.7$ per day, I believe that gpu price will start going down once 30mh starts giving 1$ per day but that day is still far away

batsonxl

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Activity: 1201

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Quote from: CashbackLover on February 23, 2021, 03:31:59 PM

Quote from: JayDDee on February 23, 2021, 02:32:27 PM

Quote from: menoiazei on February 23, 2021, 01:55:16 PM

I guess prices drop and mining rewards get higher but
How does it work with mining of bitcoin and other alt coins
when prices dropping and people panic selling ??

Hopefully it brings GPU prices down.

Graphic cards price aren't coming down as far as mining remains profitable, even if ethereum turn 500$ again graphic cards price will only come down unless mining is not profitable anymore, I'm looking forward to the EIP1559 launch, this will at least solve the high gas fee issue

cards prices will go down if profit 30mhs=0.3$

CashbackLover

member

Activity: 196

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Sovryn - Brings DeFi to Bitcoin

Quote from: JayDDee on February 23, 2021, 02:32:27 PM

Quote from: menoiazei on February 23, 2021, 01:55:16 PM

I guess prices drop and mining rewards get higher but
How does it work with mining of bitcoin and other alt coins
when prices dropping and people panic selling ??

Hopefully it brings GPU prices down.

Graphic cards price aren't coming down as far as mining remains profitable, even if ethereum turn 500$ again graphic cards price will only come down unless mining is not profitable anymore, I'm looking forward to the EIP1559 launch, this will at least solve the high gas fee issue

JayDDee

full member

Activity: 1424

Merit: 225

Quote from: menoiazei on February 23, 2021, 01:55:16 PM

I guess prices drop and mining rewards get higher but
How does it work with mining of bitcoin and other alt coins
when prices dropping and people panic selling ??

Hopefully it brings GPU prices down.

menoiazei

member

Activity: 368

Merit: 24

I guess prices drop and mining rewards get higher but
How does it work with mining of bitcoin and other alt coins
when prices dropping and people panic selling ??

Topic: How does bear moves affect mining? (Read 168 times)