Re: Will mining profitability keep going down, or will it stop - or increase?
Mining profitability for me is declining rapidly.
I'm almost making the same fiat value as back in November but much much less coins.
This is troubling for me and I'm at 300%+ ROI so there must be thousands of salty noobs out there who just invested thousands at these inflated hardware prices now wondering if they will ever hit ROI.
Everyone is different, however, I believe most of the new comers to crypto are here for ROIZ and mad profits only and don't really care about the emergence of this industry of financial freedom.
This bunch of money hungry profit driven ill-informed noobs pouring money into the ecosystem and cashing out both coins and hardware with weak hands is a real risk for the entire ecosystem IMO
I hope history isn't going to repeat itself here
I'm almost making the same fiat value as back in November but much much less coins.
This is troubling for me and I'm at 300%+ ROI so there must be thousands of salty noobs out there who just invested thousands at these inflated hardware prices now wondering if they will ever hit ROI.
Everyone is different, however, I believe most of the new comers to crypto are here for ROIZ and mad profits only and don't really care about the emergence of this industry of financial freedom.
This bunch of money hungry profit driven ill-informed noobs pouring money into the ecosystem and cashing out both coins and hardware with weak hands is a real risk for the entire ecosystem IMO
I hope history isn't going to repeat itself here
Uh,Bitcoin is mainly mined by large Corp owned farms where electricity is 2 cents or less per kwh..........so no the "noobs" aren't driving anything
Now alts are getting mined by large farms too but not as big BTC,and we the home miners can still buy vid cards to keep up (well,most are sold out ATM,but my point stands).
At least the exchanges are much more robust than back in my day,2011-2013.Where they were hacked almost monthly & would crash the coins repeatedly & take em down to nothing............
BTW,no cryptocoin is going to accepted by general population,why??
1. No refunds.....you get scammed you lose your coins.Send to the wrong or incorrect address.....you lose your coins.
2. Wallets on your PC can get hacked by virus's very easily.Most folks have no idea how to deal with virus's & most virus software dosen't like cryptocoin wallets so they get flagged as a virus.Wallets online can get hacked even more easily.....you lose your coins in both cases.
3. It's a pain & costly to transfer money from your bank to an exchange,& then more charges when you spend your coins. And if anything goes wrong during any of those processes??? You lose your coins.
So,as cool as this cryptocoin thing is,only us PC smart guys will embrace it & be ok with losing our coins sometimes
