Mining and block difficulty growth

hasherhasher Member Posts: 642 ✭✭✭
https://etherscan.io/charts/difficulty

I never really bothered to take much notice at that chart before. But now that I have, i'm a little concerned about my ROI... perhaps I should stop buying new mining hardware. What do you all think?

Comments

  • dlehenkydlehenky Member Posts: 2,249 ✭✭✭✭
    Yes. You're unlikely to get your money back for new hardware, at this point, unless something changes. The difficulty is very likely to continue to increase substantially.
  • blueboxbluebox Member Posts: 181 ✭✭
    Yes; I'd stop buying hardware if you were planning on a quick cost recovery, unless you plan on mining for at least the next 3-4 months with no expectations of profit until after that time.

    When I started only two months ago, diff was about 10.5T and 40MH was getting ~1.4ETH/day. Now, diff is twice that and 75MH barely gets the same amount. ETH is also 5x what it was, so there's that...

    Even at $11/ETH, a 25MH $300 card would take almost 2 months to recover if difficulty stays the same (which it won't):

    $300 / (.5eth/day * $11) = 54 days

    Bottom line: IF difficulty doubles again in another two months, price will have to double to maintain that 2-month target; otherwise you're looking at 3-4 months if price flatlines.
  • hasherhasher Member Posts: 642 ✭✭✭
    Currently hashing away at 600MH, but a good half of that power was purchased in new mining hardware over the past 2 weeks. I'm tempted to double my hash rate with more hardware purchases, but am a little afraid of ROI. I got burned very badly in the LTC mining days, so i'm a little more cautious this time around.
  • blueboxbluebox Member Posts: 181 ✭✭
    @hasher Ah, LTC... the burns are still fresh, as are the lessons learned. At least with ETH there's no ASICgeddon looming on the horizon; gpu's all the way. 'Till next year....
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