He is ofcourse lying about his mining and of how profitable mining is. Mining was very profitable when price was halved. Now is super profitable. But for sure miners will join with time.
Do the math yourself idiot. A single GTX 800 hashes at 600H/s - that is .2 XMR per day
I have XMR loans out on Polo for 0.49% a day for 60 days. Should they be out for the full duration that'd be a 29.4% XMR return.
Doubt we'll see those rates soon again though. Got them in when the price were around 0.005 and the XMR loaning market were illiquid since people rather took margin with their XMR or wanted to be ready to sell their XMR when it was breaking out thinking it will be temporary. Whoever has my XMR now is trapped inside a horrific short position and seemingly unwilling to cut losses.
This is something for miners who do not care about trading to be aware of. Next time XMR breaks out be sure to check out the lending market instead of taking the 0.15%/day rates you have there now.
Lucky you ... my loan was closed when we hit 950 :/