Hey steemians hope you all had a great weekend. I was hoping to get some opinions as every day I watch all the market places for graphics cards and mining rigs and I see more and more up for sale wether they are building to sell or building and sell due to no profits. Off course they are all "moving" over seas but the fact is they can't get returns for low hash rates.
Ideal hash rate?
What hash rates do we require now to just break even? With energy costs in Perth at .24 cents per Kw you need some good hash rate with low consumption or some how get off grid power 😜
Obviously the legality is questioned so that's usually not possible.
Most of these miners for sale are running between 120-170 mhs for ethereum mining. The price plunge has seen this equipment now not selling. This weekend alone I have seen 4 miners on eBay dropped by $500-$1000. Why not just keep and mine further ? Is the difficulty getting so hard that these miners struggle to mine the amount to only cover the power? Looking at the mining calculators now you would need at least 250 mhs to get a goof amount but for how long? Will the difficulty get harder or plateau for a bit because people jump off the band wagon?
Future in mining?
I am interested to see the new tech for mining. Surely this surge of mining will push our technology into a new realm at least in the PC world with some serious super computers being built. Perhaps it will enable some specific mining manufacturers to surface. I guess it will all depend on when and if altcoin prices rise again. We all knew these heights were not sustainable and now everyone is selling selling selling. Will we see it curve up again?
Many answers with many different questions. What to build now? What to mine now? Or wait for new tech?
Would love all your feedback, thank you all in advance 👍
Chefm31ster
good post.
Thank you
good post ned! I think you'll find many of the rigs are up for sale by people who were simply mining with the plan to cash out to fiat. With the declining crypto:fiat prices, they're not making the money they were and trying to capitalise on very overpriced equipment.
Ye important to stock up on alt but rising difficulty will be the test
Nice post buddy,thanks for the info.
Thanks champ
:D thanks buddy
Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.Congratulations! This post has been upvoted from the communal account, @minnowsupport, by ch00fy from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the
If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.
click here!This post received a 3.3% upvote from @randowhale thanks to @ch00fy! For more information,