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Anyone buying hardware to mine Ethereum is going to lose

By: Anthony Garreffa | Editorials in Video Cards | Posted: Jul 8, 2017 6:35 pm

The Canary Isn't Dead, Yet

 

I don't see cryptocurrency mining going anywhere, but it is going to be squeezed out of the hands of mainstream use, and into the realm of more serious miners. Mining won't die, but it will transform. For anyone who is just getting into mining, you might not have looked at some of the available charts that show the DAG for Ethereum is ramping up quickly. Let's take a look at the Ethereum difficulty chart, which is available on CoinWarz.

 

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This is over the last 30 days, and you can see here that we're looking at nearly double the difficulty of mining Ethereum, the main driver behind the amount of Ether you mine each month dropping significantly.

 

anyone-buying-hardware-mine-ethereum-going-lose_04

 

Here we have the last week, where you can see that each wave is getting bigger and bigger, and lasting long before it bounces back down.

 

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If we then take a look at the price of Ethereum over the last month, you can see it reached those massive highs of $400 from a month ago, to the slump of under $300 just before June 16. It really went down in the end of June to nearly $200 before recovering to $300+ a few days later, and is now below $250 once again and coming down still.

 

With this in mind, please take care in the mine... it's an exciting, but very volatile place.

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