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RE: [Mining] 360% more profitable than mining Ethereum
When it comes to mining of any cryptocurrency, it is important to look into the cost of the cryptocurrency. Once you are able to look at the cost, you would realize whether mining it would be profitable or not. In the last 12 months, cryptocurrency Ethereum has increased by 20 times. Therefore, you might think that it would be worth mining. The truth is that you have to look into the cost and thereafter take a call.
It's the reason why cryptocurrency is doomed! I mean, the entire concept of mining is just plain stupid. When the price goes very low, who else will be interested in mining? Even Kim Jong-un is now planting rice instead of mining shit coin.
But when the p(rice) gets lower, fewer people mine and then the mining difficulty decreases. It's a self regulating system which will always be barely profitable given that people don't mine when it's not profitable.
Your argument kind of reminds to that philosophical paradox, albeit in reverse fashion. If I wasn't mistaken, it was Bertrand Russell who popularized this one.
Haha, yes, exactly:D
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