I am a Chinese grin family miner, with a total computing grin mining power of about 300G.
Since 2022, about 70,000 US dollars have been invested in Apollo products in the past few years.The price of grin fell, and the losses were serious.
Now it is basically less turned on, or the equipment is broken and not maintained.
From Bitcoin rising and grin falling.I realize that it’s not the hash rate that determines the price
And it is the price that determines the computing power.
I would continue to run the G1 mini.If the price of GRIN rises, then the computing power of the whole network must increase significantly.
But I won’t run it on a large scale, because it looks like Bitcoin will unify the cryptocurrency market, and GRIN will fail.
You are correct. The hash-rate does not drive the price in any way but it determines how economically feasible mining is and as such how many miners and computational power can be paid by the block subsidy.
I do not know where you base this conclusion on, but I do know that mining on a project that is as inflationary as Grin is challenging, basically you should either 1) sell immediately all the grin you mine to compensate your costs or 2) not sell at all and take a 10-100 year plan (I know the Chinese are good at 10-100 year plans ) . To go for the second option you do need to have deep pockets, so again, it is very challenging I can imagine. Then again, high inflation is not forever… so I would discard your plans for mining grin just yet (not economic advise).
Correcting words：I would continue to run the G1 mini，no matter what happen.but If the price of GRIN rises, I will Increase investment in mining；but If the price of GRIN continues falls,I Wll Reduced operating equipment
hi, Anynomous.I am new here。
Although I have been mining grin for 4 years, it is the first time I have come here-grin Forum. I watched all your presentations and the discussions you participated in these days, and from the beginning, you were here, and you are a quaint super supporter of grin.
Glad the grin project has you.
Keynes quotes"In the long run we are all dead",If there is no tomorrow, there will be no future
by the way,Chinese are good at 5 year plans,and 10-100 year plan is It’s too far and too long away, it’s beyond human nature.Satoshi Nakamoto reads out the weakness of human nature and proposes to halve …
Basically, I suspect that Satoshi Nakamoto is a fan of the Football World Cup, and the four-year halving is the same cycle as the Football World Cup
It’s nice to see miners like you. Indeed, profitability must be complicated. As mentioned above, you either sell directly or take a gamble and wait. I hope you find a positive outcome
approximately ¥0.64/kW·h($0.1 /kW·h),Electricity prices also have an impact on electricity consumption and electricity consumption time.
I have about $2,000 in electricity fee a month to get all my apollo machines running，Only some of machines is running now,
my first G1 36 Gps is Used equipment,it is about ¥120000($18000) in 2022,then later I bought at ¥38000(($5500).。。。。。my first G1 mini is new,at ¥12000($1800),then I bought a lot of Used at ¥2000($350)
The above are approximate buying prices, and there are some deviations in memory
) . To go for the second option you do need to have deep pockets, so again, it is very challenging I can imagine. Then again, high inflation is not forever… so I would discard your plans for mining grin just yet (not economic advise).
