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
Sorry mate but your arguments make no sense to me.
First I don't understand how, even with the current "crash" on the altcoin markets, your profitability can be declining rapidly. All coins have doubled/tripled (and more) in value within the last few months. Even if you mine less coins, the profits are still huge compared to last year. So unless you pay 1$/kWh...or I'm missing something.
As for all the "salty noobs", man, what would you do if you were one of them? You'd want to jump on the train while you still could. That said, it's their own fault if they crash and burn because they bought RX cards for 500$ a piece...
And let's be honest, most miners are doing this for the profit, not the underlying technology. And let's not forget that without the hungry mad noob mean profit-taking miners, most if not all of these coins would sure AF NOT be where they are now, and that includes bitcoin.