One Big Scam - Called Difficulty

(my x-post from deeponion)

There is one lesson to learn, just in the 2...3 days I have that Gridseed box, Moores law does not apply to mining :).

It is purely an artificial thing, how your money gets extracted for expensive mining boxes with high hash rates, defined by DIFFICULTY. Yes, that, how difficult it is, or rather the opposite, how easy it is to make you spend a lot of money for some dedicated equipment you can not use for something else. But to compete with someone who fell in the same trap to spend a lot of money not necessary for equipment not necessary to compete on something called DIFFICULTY. Purely an artificial parameter to make you burn money.

So, why do I say that? As written somewhere else here I got that old Gridseed G-Blade miner for cheap. One of the 2 blades even died after 2 days.

But I found that very interesting new, recently abandoned ONEA coin and I was or am the only miner depending on the time of the day. Even with 2.8 MH/s that one blade can do, difficulty drops to 0.x and you can produce blocks en masse. No holding back.

If more people join, of course, that difficulty and effort goes up rapidly. But it is not a technical limitation, purely an artificial parameter that drives energy costs into heaven or the moon as the opportunists like to say.

Or to say it in short, any coin could be produced in seconds, maybe a week to achieve the full coin amount designed. All that mining is a big scam, perhaps not intentional so, but it is just a complete unnecessary waste of resources.

So, I leave that open for opinions, for me a bit of an eye opener...