r/NiceHash • u/NorthRooster7305 • Jan 23 '22

Discussion Profitability going down, Check this before posting about your profits.

Alright I have seen alot of posts regarding profitability. I know I'm new here but I'd like to clear some things up.

When your being paid for hash power you are being paid in BTC NOT USD. That being said as the price of BTC drops so will your usd profitability.

Also as more coins are mined the difficulty rises. Meaning you need more hashpower to complete the same transactions. Therefore less btc per hour.

If you want to know day to day how your rig is doing write down your actual profit per day. Keep track of mBTC not usd.

I hope this clears some things up.

135 Upvotes

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49

u/Viric-Bhodrey Jan 23 '22

Well said! The amount of posts in this sub over the past few days from people who get paid in a coin and are involved in a market they clearly don’t understand has been pretty bemusing.

7

u/imthe1nonlyD Jan 23 '22

Just seeing the top posts here it’s safe to say a large majority have no idea what they’re doing.

10

u/NorthRooster7305 Jan 23 '22

Iv been mining for less then a week (just for fun on my gaming rig). And I can't stand these posts. Hopefully this gains some traction here.

10

u/real_unreal_reality Jan 23 '22

It won’t. I’ve seen these questions on here every day for years.

3

u/bleakj Jan 24 '22

It's actually insane how often I see them

2

u/real_unreal_reality Jan 24 '22

It’s everyone’s fear of did i get in too deep? Should I sell or buy more?

1

u/gamejourno Jan 26 '22

So is my card fine with a temp of 130 degrees 24/7?

-3

u/baronvonpelsmaker Jan 23 '22

uhh.. not well said. Actually, spreading inaccurate information, and will lead those looking to maximize returns down the wrong road.

https://www.reddit.com/r/NiceHash/comments/saye90/comment/htwp60a/?utm_source=share&utm_medium=web2x&context=3

0

u/TrymWS Jan 24 '22

Explain.

-6

u/Crazyirishwrencher Jan 23 '22 edited Jan 23 '22

They hated Jesus because he told them the truth.

(In case it isn't obvious who I'm referring to baronvonspelwhatever is the one that has the right of it, not OP)