It's crazy that some people in my country keep purchasing GPUs due to the price decline. I don't even understand because in the city I am living, I am paying around $0.25 per kilowatt which is so expensive for mining. Some people in my country are expecting a new coin profitable to mine. RVN and ETC aren't that profitable compared to ETH. Lately, I am hearing about this coin called Kaspa which is fast and is on the rise although I haven't checked it yet. I just think the electricity rate in the place I am in is not good for mining.
Unfortunately, those people imagine that if the GPU market spreads out to many different coins, instead of being stuck at ETH, that will make them even more profit. So far almost everyone aside from a few TH went to ETH and not all coins could absorb such a huge power, and that means we will see the GPU miners start mining stuff that are all over the place, all the top 100 coins that are proof of work will get some higher mining hashrate thrown their way and people will see what sticks.As we all know that will not make it more valuable, in fact there would be more people who wants to sell it, but the fact that it spreads out that way makes people imagine it would be profitable.
