Quote from: adaseb on Today at 05:19:35 AM

Quote from: menoiazei on February 23, 2021, 06:55:16 PM

I guess prices drop and mining rewards get higher but
How does it work with mining of bitcoin and other alt coins
when prices dropping and people panic selling ??

The reason why your mining rewards went up when prices dropped is because there was congestion on the ETH network and people were paying 5x the normal miner fee rate to get their transaction going. People assumed ETH would keep going up but it stopped and hence they are rushing to send their ETH to their exchange to take profits.

However if every does this at once the network is congested so the really desperate people will increase the gas fee, and as a result more people increase the gas fee and the reason why the fees are crazy high. So your ETH lost value but you got more rewards as a result.

This is not good because eventually the fees will go down and you will end up making less.

Trolls need to understand that on bear market, those gas fees are non-existent because there are no congestions. So this 1559 eip 99% only works on bull market, miners benefit most from the gas fees on starting and end of the bull market and when there are significant price crashes or rebounds.