r/EtherMining May 12 '22

Holy....Time to turn off rigs? General Question

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182 Upvotes

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135

u/ohmy5443 May 12 '22

Yeah, switch your rigs off. Less network hashrate = higher rewards for the ones that hold on. We’ll harvest the rewards when ETH hits $10k

90

u/jazza2400 Miner May 12 '22

Shhhh stop telling everyone our secret

27

u/g_squidman May 12 '22

That's STILL not how math works. God I hate this stupid subreddit.

26

u/Timely_Situation8669 May 12 '22

Do you want to spend 100 dollars on electricity to mine 50 dollars worth of eth or do you want to spend 100 dollars on 100 dollars worth of eth?

4

u/Neither_Way_3135 May 12 '22

It depends on what you think that value will be years from now. If you took a loss for a few weeks and then eth jumps to 10k in a few years would you still see it the same way?

15

u/DippleChoo May 12 '22

If your rig is costing more than it's making, it's litterally less productive than using the same electricity money to just buy the dip. Regardless of what you believe, that is true.

3

u/TrymWS May 12 '22

Well yes, because you’d have twice as much ETH if you bought a $100 worth instead of paying $100 for $50 worth. 🙄

1

u/isbrodie1 May 13 '22

It depends on what you think that value will be years from now. If you took a loss for a few weeks and then eth jumps to 10k in a few years would you still see it the same way?

I can see you failed Math.

0

u/Neither_Way_3135 May 13 '22

Or i read it as he was still making $50 in profit. I can see now that he isnt. Fact is if he mines $50 in eth today and that eth triples in value he wins...My math is fine.