Mining this coin is it really worth it anymore?


#1

I went from 2k of coins per day to 1k per day to 500etn per day and now it’s dropped even further to maybe if I’m lucky 500etn in 48hours +… This is all happening so fast. buying miners does cost money but in a few days i’ve seen the drops in ROI so i’m not sure what’s going on? Is it really because more miners are mining ETN or something else is driving this extremely slow mining?


#2

This happens to all coins. You should mine for a little profit, or even for beaking even, until the price grows. Deal with it!


#3

Are you mining with a PC or with an asic @077fa450af8118eb4d1a ?


#4

asics… I understand the drop but it’s suddenly dropped in just a few days. I looked at some of the bigger pools and the users on those pools and saw their mining efforts drop drastically. I’m just wondering what happened this last week? Has someone released an improved ASICS miner able to mine 10 times the speed at half the power?


#5

I don’t know what happend but maybe the difficulty went up? i didn’t really heard any news regarding to this yet :thinking:


#6

This is the overall network hashrate. If you bought your ASIC miner right after they let the ASIC’s back on the blockchain… there is approx 3x more hashpower mining ETN now meaning you will be earning 3x less coins now, than you were back then.
This can only be caused my more ASICs being made/sold to people who want to mine ETN. OR bitmain has brought out a more powerfull miner that the public doesn’t have access too just yet. Bitmain use the miners for 6m- 1yr for themselves and when they have a better one they sell the old ones, and they charge more than double what they cost to make so for every one sold, they can make 2-3 more. Rinse and repeat! This is why many people/coins HATE ASIC’s and why people say a coin is “Centralised” in nature if ASIC’s are mining the coin! And bitmain is in China, so China dominates all ASIC friendly coins.
Went on a bit of a rant there, sorry lol.


#7

I guess this is the new norm now. I am thankful that I made enough money to cover my Asics miner costs before this happened but the fact that it spiked so fast has me believing that something else is happening. I think you are on to something with bitmain or others releasing new miners. I will continue to Mine and see how this trend goes but if mining pennies a day for too long it might be time to put the miners on pause. lol
thanks again for your help.


#8

I dont think you are going to loose money mid-long term if you do keep mining away at 250 etn per day to be fair.
Don’t answer this question here, but in your opinion what is your future price of ETN in a few years? Multiply the answer by 250 and thats what you are making each day. Probably gonna be a decent figure?

I mine and at times the current price it hardly covers the electricity cost but when i put on my long term goggles i dont stress too much.

Ps: i’m more than confident about my bitmain theory, there is a good reason why all “new” ASIC’s come delivered in a nice, new box but the miner itself is covered in dust!