Genesis mining day 44 - Brutal !!!
It is day 44 on my 10mh ETH clouding mining (investment: USD 291), as the difficulty continues to increase, the unit per day has remain decreased from 0.004 to 0.0037.
Beware: If you want to invest your own mining rig now, ensure you calculate your cost carefully, with ETH drops to 100+ level, the breakeven period to invest a 6 mining rig would be around 13.6 months!
With the ETH price bounce back at 100+, eth/day has decreased again (from 0.0087 to 0.0037- A 57% decreases in eth / day!!)
Finger cross that it will still time for me to break even and at least to get some return back after the contract ends.
For the current projection, I make
17.15% return for capital.
breakeven period is around 8.5 months
This assumes:
the price remains unchanged
difficulty remains the same
Therefore the projection is likely to be overestimated but good that the contract is for 2 years and therefore still plenty of time to make up.
Is really sad to the price drop in ETH. Meanwhile, no slow down in the rate of difficulty.It will definitely take a lot longer time to the breakeven point. But, I still have faith in ETH. Time to consider buying some ETH.😀
More drops in mining proceed it seems. And eth price is on roller coaster with dumps. Worst thing to see as both proceed and price go down. That makes break even more and more far from realize. Can only hope eth price goes back up from here. At the end, buying the coin itself should have been a better bet in my opinion as the outcome.
Cryptocurrencies are hard to predict. they are more unpredictable than the weather in Sweden. Butterfly effect? Maybe chaos therory could provide a useful model.
Yeah no doubt. Not only you need to predict the future price, you also need to predict the difficulty. I try to answer the difficulty answer in my eariler post which i fit a model to predict to the future. Unfortunately it is showing it may not be a good investment as i would have thought. But it is still better to get into the mine riging
Maybe it will not pay out in short term, but in the long run investing in ETH is surely a good idea. Tried ETH mining a Home with 3 NVIDIA (2x GTX1080 + 1070) = 65-70 Mh/s. It would take 4weeks to get one ETH.
Amazing amount of computational power and electricity for one ETH !!
https://www.cryptocompare.com/mining/calculator/eth?HashingPower=75&HashingUnit=MH%2Fs&PowerConsumption=500&CostPerkWh=0.12
Hi @wilkinshui, I guess its a good time to buy more ETHER now to make up for the lower mining output!
Hey this is a briliant idea!!
Probably it's a good time to invest in altcoins since all are on a downward trend at the moment and just sit this out
I have been thinking the same. I am ready to build my cryptocurrency portfolio if price goes down further. Now it is probably not a good time to invest in rig and should like you said, just buy the coin and sit it out when opportunity presents. Good luck for both of us. :)
Hard times atm. But you know this game ,soon reds days turns to green days
Yes
Hay @wilkinshui
I always follow your post whether it is Travel or Other !!
I Wish You Would Also Follow and Upvote My Post @funnystuff
Really I Liked What You Do Every Day
And Always Join - Upvote - Comment and Reesteem
I wish the same
Thank You Sweet
This post gets a 6.25 % upvote thanks to @wilkinshui - Hail Eris !