Drop in revenue since July 2017

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janjacobs66
Posts: 3
Joined: Tue Sep 03, 2019 2:10 am

Drop in revenue since July 2017

Post by janjacobs66 » Tue Sep 03, 2019 6:05 am

Hi all,

Excuse my lack of knowledge, just a small time miner

I noticed that my revenue drastically dropped since July 2019
I was used to earning $2.x per day, that is now down to $0.70

was expecting to earn more when BTC gained value
( I have a bitmain mining with script )

anything I can/need to do from my side ?

will appreciate any input
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Steve Sokolowski
Posts: 3734
Joined: Wed Aug 27, 2014 3:27 pm
Location: State College, PA

Re: Drop in revenue since July 2017

Post by Steve Sokolowski » Tue Sep 03, 2019 6:46 am

janjacobs66 wrote:
Tue Sep 03, 2019 6:05 am
Hi all,

Excuse my lack of knowledge, just a small time miner

I noticed that my revenue drastically dropped since July 2019
I was used to earning $2.x per day, that is now down to $0.70

was expecting to earn more when BTC gained value
( I have a bitmain mining with script )

anything I can/need to do from my side ?

will appreciate any input
Unfortunately, the litecoin network halved its block reward in early August. That meant that the pool receives 12.5 coins per block, compared to 25 coins in July. All pools are now paying half as much money to scrypt miners as they did a month ago, and that's a permanent change we can't do anything about.

A secondary issue is that the price of litecoins declined by a little bit since last month, but it has started to recover somewhat.
janjacobs66
Posts: 3
Joined: Tue Sep 03, 2019 2:10 am

Re: Drop in revenue since July 2017

Post by janjacobs66 » Tue Sep 03, 2019 7:21 am

Thank your for the prompt reply

so am i limited to litecoin mining only ?
as I see on my profile, all the time, im mining digibyte
User avatar
Steve Sokolowski
Posts: 3734
Joined: Wed Aug 27, 2014 3:27 pm
Location: State College, PA

Re: Drop in revenue since July 2017

Post by Steve Sokolowski » Tue Sep 03, 2019 8:48 am

janjacobs66 wrote:
Tue Sep 03, 2019 7:21 am
Thank your for the prompt reply

so am i limited to litecoin mining only ?
as I see on my profile, all the time, im mining digibyte
Unfortunately, since litecoin has the highest difficulty of all the coins of the scrypt algorithm, the profitability of all the other coins adjusts down to be close to litecoin's profitability. Digibyte is more profitable than litecoin, but by the same amount as it was before the halving, so it's a percentage gain off a smaller absolute amount of profit.
janjacobs66
Posts: 3
Joined: Tue Sep 03, 2019 2:10 am

Re: Drop in revenue since July 2017

Post by janjacobs66 » Tue Sep 03, 2019 8:54 am

Thanks Steve !

Guess time to switch it off then :-(
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