• Please note to have a link in an article you must first request permission from the administrator and pay a fee. You can read more information here.

Miners November 2020 vs Miners October 2020

  • Thread starter Thread starter Tienda
  • Start date Start date

Tienda

Guest
According to the information I found today, they have done an investigation about Miners around the world month of November 2020 vs October 2020.
The result is significantly! The miners earned over $ 500M in November 2020.
This means one and half times higher than in October.

Do you think this is due to the increase in the first cryptocurrency rate?
Or because of the general market growth?​
 
I think that this is because of the growth in the market price of crypto. If you look at the difficulty of mining it has not changed over the course of those two months, however there has been an increase in the value of the coin. As a result, with this increase, the same number of coins that are being mined will have a larger value, making mining more profitable in November.
 
These times, miners are having a field day raking in their profits. I am sure that just as October was compared with November, Miners would have made more profits if December is evaluated against the month of November.
 
Is mining still real? I've tried mining bitcoin since God know when, without any good results to show for it. I will be glad if someone here can help me with one mining platform, so that I can give it a trial. I cant risk joining a mining platform with subscription fees.
 
Tienda said:
According to the information I found today, they have done an investigation about Miners around the world month of November 2020 vs October 2020.
The result is significantly! The miners earned over $ 500M in November 2020.
This means one and half times higher than in October.

Do you think this is due to the increase in the first cryptocurrency rate?
Or because of the general market growth?​
Click to expand...
Ofcourse that is the obvious reason for that high profit achieved in November ,because whenever there is an increase in Bitcoin price , gas fee use to increase and when gas fee increases , the miners tends to earn more and more profit from it
[automerge]1610201307[/automerge]
Tienda said:
According to the information I found today, they have done an investigation about Miners around the world month of November 2020 vs October 2020.
The result is significantly! The miners earned over $ 500M in November 2020.
This means one and half times higher than in October.

Do you think this is due to the increase in the first cryptocurrency rate?
Or because of the general market growth?​
Click to expand...
Ofcourse that is the obvious reason for that high profit achieved in November ,because whenever there is an increase in Bitcoin price , gas fee use to increase and when gas fee increases , the miners tends to earn more and more profit from it
 
When the price of Bitcoin rises, Bitcoin miners also gains much to but when the price of Bitcoin is down, most Bitcoin run at a loss. So the difference between the amount the Bitcoin earners earned during those times in review is as a result of the increment in the price of Bitcoin around that time.
 
The increase in miners is as a result of the high numbers of people coming to adopt cryptocurrency as a means of payments which makes bitcoin to rise in value and increase the profits of miners.
 
Setfragil said:
The increase in miners is as a result of the high numbers of people coming to adopt cryptocurrency as a means of payments which makes bitcoin to rise in value and increase the profits of miners.
Click to expand...
Yes this is true but there will be a time in which people will not be able to mine bitcoins again because it is possible that the mining of bitcoins will end within a period of time in the future ,this will push the price of bitcoins forward to a very high price
 
I am not into mining, but I have deep interest in mining. If I had funds, I would have set up my own mining farm and mined various crypto currencies like Bitcoin and Ethereum.
 
Lagazine said:
Is mining still real? I've tried mining bitcoin since God know when, without any good results to show for it. I will be glad if someone here can help me with one mining platform, so that I can give it a trial. I cant risk joining a mining platform with subscription fees.
Click to expand...
Mining is real, but you need to be more careful with sites that actually demands subscription fees and others for you to start your mining process and earn more amount of money
 
The surge of miners is due to a large number of people adopting cryptocurrencies as a form of payment, causing bitcoin's value to rise and miners' revenues to climb.
 
You must log in or register to reply here.
Back
Top