Cryptocurrency price were crashed recently. Will you continues to do mining? What is the reason keep you continue to do mining?
If it costs you more to mine the coin than to buy it, it makes no sense to continue mining. As long as it covers electric costs and some, no reason to not mine.
Let’s say The average residential electricity rate in the U.S. is 14.47 cents per kilowatt-hour (kWh). ETH 1000USD is consider break even or profit low. If ETH 800USD, many miners will stop mining? Properly some miner still mining and keep ETH for long time investment. Hopefully, price $4000/ unit will come back again?
no one should be mining at a loss, but im sure theres a lot of people that will.
you can play with different scenarios using this calculator Ether Mining Calculator | Etherscan
However, people have all sorts of electricity costs, Heard as low as 2¢, and others have almost 50¢. So you can’t generalize or even take the average. Would imagine people in california are already at a loss. As keaton said, mine while it is profitable for you
no one should do it at a loss, but are the products of your friends who have products and mining garbage?
Will ETH run out behind the promise of not mining? Is this our prediction?
Mining at a loss vs. buying with fiat currency or swap does not make fiscal sense.
You are “overpaying” now and hoping something is going to rise to pay you back vs. buying low now and having to option to sell high.
Granted, some folks may be attempting to avoid taxes, oversight, etc., but then you are not as interested in the profit/loss discussion.
fwiw: Only my most efficient miners are profitable for me right now, so the rest are shut down.
I think the profit / loss debate is valid for those who make mining at home.
Electricity costs are really high in Turkey, but if you can make it more efficient, it will make sense. First of all, about electricity costs.
I haven’t closed it yet, and I’m thinking of buying ETH on the stock market when it goes below 1000 USD.
This can be seen in the network hashrate, which had dropped to .92 Th/s from an ath of 1.06. Now it is at .97. As it becomes less profitable to mine, this will drop until a balance is struck.
Depends how profitable it is for each miner depending on the cost per kW. You can calculate it based on mining profitability here: Ethereum Mining Profitability Chart
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