Mining And Sudden Drop of ETH Value

[TKO]

Hey guys! TKO Here

So Today the price of Ether fell by almost 30 USD. This is surely not a good sign specially since the whole crash. It has only become 1/7th of its value and still dropping?

Take a look at the graph over the past 5 days:

The sudden drop has gotten many people worried.

There are articles stating that ETH mining is no longer profitable and is only just a waste of time and resources. Here is one: https://cointelegraph.com/news/bear-market-and-declining-hashrates-mean-mining-eth-no-longer-profitable-analysis-finds

I am very uninformed about Crypto-currency mining but apparently ETH mining uses the GPU (Graphics Processing Unit) unlike Bitcoin which only requires a CPU. This also means that ETH mining is significantly faster. However, most servers do not use GPU's. They are based on text-based entries and generally only use CPU's. Most computers now a days have IGPs (Integrated Graphic Processors) which are basically weaker and less power consuming GPUs.

Installing heavy duty and fast GPUs like that of Nvidia and higher end AMD, can be very expensive and also very power consuming to run at larger scales.

According to various articles, at $1400, the mining profit was $150 per month per system, but now it has gone down to zero and some even claim in negatives.

 

What do you guys think about this whole fiasco of the crypto market. What do you think about the future of all cryptos and sites like stake as well?

Do let me know please! Quite interested in this!

Thanks!

~TKO

 

PS. You guys are amazing. I care for all of you. If you're EVER feeling low and wanna talk, I am here and my DM's are open  I would love to help! Take good care of yourself and others around you. Strive to be the best you can be and stay happy, safe and healthy! Love you all! ❤️  

 

 

[luizoruivo]

21 minutes ago, TKO said:

Hey guys! TKO Here

So Today the price of Ether fell by almost 30 USD. This is surely not a good sign specially since the whole crash. It has only become 1/7th of its value and still dropping?

Take a look at the graph over the past 5 days:

The sudden drop has gotten many people worried.

There are articles stating that ETH mining is no longer profitable and is only just a waste of time and resources. Here is one: https://cointelegraph.com/news/bear-market-and-declining-hashrates-mean-mining-eth-no-longer-profitable-analysis-finds

I am very uninformed about Crypto-currency mining but apparently ETH mining uses the GPU (Graphics Processing Unit) unlike Bitcoin which only requires a CPU. This also means that ETH mining is significantly faster. However, most servers do not use GPU's. They are based on text-based entries and generally only use CPU's. Most computers now a days have IGPs (Integrated Graphic Processors) which are basically weaker and less power consuming GPUs.

Installing heavy duty and fast GPUs like that of Nvidia and higher end AMD, can be very expensive and also very power consuming to run at larger scales.

According to various articles, at $1400, the mining profit was $150 per month per system, but now it has gone down to zero and some even claim in negatives.

 

What do you guys think about this whole fiasco of the crypto market. What do you think about the future of all cryptos and sites like stake as well?

Do let me know please! Quite interested in this!

Thanks!

~TKO

 

PS. You guys are amazing. I care for all of you. If you're EVER feeling low and wanna talk, I am here and my DM's are open  I would love to help! Take good care of yourself and others around you. Strive to be the best you can be and stay happy, safe and healthy! Love you all! ❤️  

 

 

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