What is Mined by Ethereum Mining Machines (2021 Risks of Mining Ethereum)
What is mined by Ethereum mining machines? Today, there are reports in the media
What is mined by Ethereum mining machines? Today, there are reports in the media stating that Ethereum mining mainly relies on computational power. Currently, the price of Ethereum is a little over 30 cents in Chinese currency, which is approximately around 5,000 yuan. If calculated based on today’s price, its value is approximately 15,000 to 25,000 yuan.
According to official information, in the production process of Ethereum, a large amount of electricity is consumed to ensure its normal operation. Therefore, what is mined is Ethereum, which is generally divided into two categories:
1) The power consumption generated when mining Bitcoin is above 1 MH/s;
2) When mining Monero, a difficulty value is reached within approximately 4 hours, with 8 times of hash time delay. Therefore, at the beginning, optimization was done for this machine, but later, due to other reasons, this situation could not be solved, leading to problems with ASIC chips.
What are the risks of mining Ethereum in 2021?
During the bull market in 2017 and 2018, Ethereum (ETH) rose nearly twice and reached a new high. However, with the arrival of 2020, what are the risks of mining in 2021? Let the author explain.
1. Security of the mined coin: Since the current global computational power is only around 10Eh/s, the main cost of mining Ethereum is electricity. Currently, Ethereum mining can provide services exceeding 1 Tps.
2. Mining profitability: Although the current transaction fee of Ethereum is as high as $5, the income is approximately 400% based on the current market price.
3. Investment strategy: If choosing long-term holding or direct purchase, there may still be other problems in the future.
2. After the “halving” process, investors should pay attention to the “depreciation of mining machines” and “Bitcoin halving.” This will cause the decline in the Ethereum mining machine to become greater. Therefore, for ordinary investors, participating in Ethereum mining should be cautious, especially in the current bear market. It may be appropriate to increase the threshold for capital investment.
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