We’ve been running the Ghetto rig for approximately 30 days now and some numbers are coming in that I thought I should share. I’m sharing the complete history for our mining address here, but we’ve only been mining with six GPUs since around 2017-07-20. Before that we had four (because of a PSU shortage) and before that we were mining with two cards but against a different address.
As you can see we should soon reach 1 ETH which would be considered some sort of milestone.
What is a little worrying (and completely expected) is the recent trend starting late July in the Days between payout column, from 1.15 to 1.57. It’s not all that dramatic in the following graph but that’s just because it’s broken with data prior to July 20th.
Is winter coming?
Looking at the Ethereum difficulty graph here shows that there has been some movement since the beginning of August.
Are we starting to feel the effects of the Ice Age? Built into the protocol is a time bomb making it more difficult to mine as time goes by. The idea here is to make users move from the Proof of Work scheme of today to the future Proof of Stake protocol Casper in which mining is obsolete.
I can’t help to think that there is so much invested in mining hardware right now that just because Ether mining might be on the way out, some other coin will attract the miners (and the attention). At least for a short while. If the Proof of Stake algorithms proves viable then maybe all mining based alt coins will eventually fade away. As of now I think the potential of the ETH price still makes it interesting to mine.