Nicehash Profits Dropping so low
I have invested over 8000$ in hardware to mine crypto using nicehash and it has fallen to the point that it barely covers the electricity required. This all happened in less than 3 weeks. Why is it that the moment i invest some real money in this venture it starts to dip so hard. I know steemit isn't the place to complain but please let me know if there is anything i can do to salvage this long term venture into crypto.
Totally agreed. Profits on Nicehash dropped almost by 40%. I am mining only 12 hours a day as it gets noisy at night and too warm for me. But I thought this as a strategy. To play the game a longer term - to mine when the timing is good. When the market is bad, nicehash gives slightly more coins. Think about the coins that you mine everyday. It remains almost the same am I right? Even though the current value has dropped but your coins will get better value when the market improves. So dont give up now. Unless you want to cash out by selling your equipment. The demand for GPUs is pretty good now, you could break even if you sell. For now, Im just waiting...
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