Topic: Mining Monero is Insane (Read 655 times)
I think maybe people haven't heard of Monero and once the price strikes that started mining it and haven't switched back over. Some may think it's undervalued at the moment and mine at a loss, even though they can just put their money into buying the coin instead.
Mining profitability has decreased across the entire board and I suspect some ETH miners as well as people with cards that have less memory than the ETH DAG have started mining XMR. Unless price continues to go up, expect difficulty to increase or stay where it is. Mining has dropped down to about where it was before the mining craze in terms of profitability.
That's mining for you. I can't think of a coin that doesnt follow that progression.
Typical Mining Progression:
1) Its not profitable enough to mine something;
2) then its very profitable for 12 hours tops;
3) then the difficulty booms and its no longer profitable;
4) price decreases but difficulty never follows.
Typical Mining Progression:
1) Its not profitable enough to mine something;
2) then its very profitable for 12 hours tops;
3) then the difficulty booms and its no longer profitable;
4) price decreases but difficulty never follows.
Price of Monero was 0.02 bitcoin back in this March, and not many people were mining monero. Price decreased to 0.01 btc in August and difficulty were almost the same.
However, in the end of august 2017 price more than tripled to 0.035 and monero mining difficulty tripled as well. Now price is back to 0.02 same as March and difficulty is still same as when it was all time high.
Why the hell still it is too difficult to mine monero? If it goes like this I am going to find a real cheap altcoin to mine
However, in the end of august 2017 price more than tripled to 0.035 and monero mining difficulty tripled as well. Now price is back to 0.02 same as March and difficulty is still same as when it was all time high.
Why the hell still it is too difficult to mine monero? If it goes like this I am going to find a real cheap altcoin to mine
Jump to: