Join the pool or turn off your miner: the mining of Ethereum alone is not profitable


One of the interesting things about open blockchain is that, in theory, anyone can set their computers to focus on these cryptographic enigmas as a way to win prizes.

The problem is that mining on important public blockchains tends to demand more and more energy over time, as more and more people are investing in more powerful hardware.

On this day and age, those mining extractions with low power configurations alone have officially zero chances of gaining profits, as Susquehanna's latest research shows.

As CNBC writes, the useful month-to-month mining ethereum using a graphics card called GPU dropped from around $ 150 last summer to around $ 0 for November this year, according to Susquehanna's analysis. .

The miners have their machines running all the time doing the hashing operation.

Hashing is a mathematical process that takes various input data and performs a complicated operation on it, after which it releases the result of the operation as fixed size output data. The size of the input data (which is also called a string or a Message) it does not matter, however the output returned (also called a digest) will always be of a fixed length.

What is the best alternative for the block monitoring app?

The hashrate or the speed at which a computer can complete that operation have dropped dramatically for this year's ethereum. A higher hashrate is better for the miners and adds the opportunity to find the next "block" and then get the reward of the new cryptocurrency.

NVIDIA sales numbers are wavering

The chip maker Nvidia is losing sales accordingly. The company's encrypted revenue declined approximately $ 100 million in the third quarter, Rolland said. He predicted that revenues from the company's cryptocurrency will "probably be close to zero" in its third-quarter report on Thursday.

"During the quarter we estimate very little revenue from GPU sales related to cryptography, consistent with the management's preliminary comment that they did not include any contribution from the crypto in their C3Q18 prospects," said Rolland. "Third-quarter mining profitability continued to decline as Ethereum prices fell more than -70% from the start of 2018."

The price of Ethereum extended losses against the US dollar and bitcoin. The ETH / USD may continue to fall towards the $ 200 or $ 198 support level.

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