Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto currency Mining => Topic started by: cryptothief on August 18, 2018, 02:55:54 AM
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When you're choosing which coins do mine, do you tend to go for coins that provide instant value or ones that have the potential for growth down the line? Both ways are a 'gamble' I guess, but I'd rather take the opportunity to mine a larger volume of lower value coins in the hope that they bring a bigger profit later.
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According to Fundstrat analyst Sam Doctor, it appears Bitcoin Core (BTC) hashpower has doubled since just before the start of summer. That figure is impressive considering the lingering and deep bear market. “Even with upgrades to existing equipment, implies almost 1GW of new power consumption vs 5.2GW in May ’18m” Mr. Doctor tweeted. “Breakeven now $7,300 ($5,300 cash BE) vs. $6,000 in May.” An exchange report confirms miners might also be accepting lower shorter term gains in favor of market position.