The State of Mining Today


#22

https://eth.nanopool.org/account/0xF00eE7A27c593B2b977ff00734D06c8c0E014a7d

Take a look at my calculator tab, those numbers are not far off.

Block frequency is set as a goal by the Ethereum foundation. It’s impacted by transactions, miners and other factors.
It’s usually consistent but does steadily change over time. They usually address it with code when it starts getting out of hand.

As far as 604K being so easily divisible to your own payouts, that’s just how the math works out. If you’re solo mining, you only get paid when you find a block, so you may go a month or two before making 15 ETH in 2 days. It’s random.

It’s far more consistent if you take part in a pool though, where your work is thrown into a pot and scaled down…
Most miners like predictability and pay 1% pool fees to get it.


#23

very informative read


#24

Yes I read this the other day, really worth reading.


#25

Mining has been historically less profitable or not profitable at all when compared to trading. If you were mining in 2014 and 2015 for example, you’d have been in the red majorly. Some years it has been better or worse, but every year investing is a better strategy if you just want to make money quick. Mining is not a quick money maker and it’s harder to learn than day trading.


#26

I agree with that it is not quick money, but harder than day trading? I can’t agree with that as this is maybe a few hours to build a rig and get it up and running but then again it depends on your background. Day trading isn’t easy for me but building PC’s I can do that more or less blindly so to speak.

Trading is not always more profitable. 90% of day traders lose money and something like only 2% of the remaining 10% actually make money the other 8% break even.

Mining is nearly always profitable. You do not mine for what the price is at that given point in time so the chart above is a bit off. As a miner you are or should be more of a long term holder for the coins you mine. Even if you mine digibyte and say trade it immediately for BTC you need to hodl that BTC. Mining is more or less a DCA type mentality.

Anyhow just another perspective.


#27

Agreed. If you take people with no experience on either side and start to teach them how to mine versus how to trade, the trading has less variables and details or even malware to deal with. You just learn to read charts, candles, TA, etc. I’ve got clients with Series 7, traders, bankers, mortgage loan officers, etc. They are all very successful at trading, but when they get into mining, they are only able to “build a PC” which is only a fraction of the work that goes into crypto mining. Unless this is just a hobby for someone it is all about greed. I’ve rarely met anyone that doesn’t get consumed with greed for mining and see the potential to scale a mining operation. Building a PC is not hard, but scaling a mining operation requires some level of data center expertise, networking, operating system security, software development skills, or at least troubleshooting experience. Some of these traders don’t even know the OSI model, which can be taught, but still fail to understand a lot of troubleshooting computers is not magic, like layer-1, “is it plugged in?”. It’s simple, but I’ve been to mining meetups where even veteran miners forget to check the cables for being plugged in.