Ethereum Network Difficulty Spike

RavinderDhillonRavinderDhillon Member Posts: 74 ✭✭
Network difficulty was stable around 72TH for most of September, rising slowly, and then suddenly spiked to 83TH over the last couple of days.
Newrotk Hashrate growth says the DevCon encouraged more miners to come online as the hashrate had a proportional jump.
Now theres a chance that many of these are new miners, but these are most likely older miners adding rigs to their existing setups.
I thought it was already unprofitable to put money into mining equipment and investing directly in ETH is a better value proposition, so why do people keep investing in Hardware?
To be honest, I got into ETH mining only two months ago, and am planning to hold all my ETH in hopes of it growing, and my primary motive was to understand ethereum and the blockchain. I am already looking to sell off my rigs to people who are interested, for profit ofcource, and have sold a couple off.
I just wanted to understand what is motivating people, despite numerous posts and warnings, to pump more money into what is not a very good long term value proposition?


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