I have been going through a few Youtube videos on this and one question comes up.
Why bother with the Ethereum difficulty almost doubling each month? Profits are halfed with each doubling and in just 1 year, the rig is next to useless, because the Ethereum difficulty will be X12. Everybody is hyped about mining Ethereum, but I don't understand how this is profitable. On a running basis, if the price stays the same, one would you have to spend big time on adding a new rig every month to match the quickly rising difficulty rate just to keep spitting out coins at the initial rate, so why even bother? It sounds like the constant need to expand with rig, after rig, after rig would totally eat away one's profits. I know prices of Etherum are going up, but that won't last forever, there will be corrections along the way, big ones and one would still regularly have to invest massively in buying rigs and swapping older graphics cards for newer ones in existing rigs several times a year. Am I missing something?