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Ethereum Network Difficulty Spike
RavinderDhillon
Member Posts: 74 ✭✭
in Mining
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?
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?
Comments
Too many just have very unrealistic expectations.
Wait until Summer 2017 when your RX480 will be making $0.25/day, and then you can complain.
Because you can get much further with a kind word and a gun than you can with a kind word alone.
when Eth becomes not as profitable to mine, there will be other coins to mine as well just like how bitcoin was and Eth came along..
When there is easy money to be made everybody will start doing it eventually.