i've refreshed this and mining profitability is soaring right now what in the heck happened why is this happening well remember eip NUMBER_TOKEN some of you like i don't know what the heck that means eip NUMBER_TOKEN is part of ethereum's move from what's called proof of work where it's gpu minable to what's called proof of stake where it's no longer going to be gpu mineable this changed the way that the transaction fees work so that rather than a lot of them going to the miners they're going to reduce overall fees and think of it every time you use your visa mastercard visa or mastercard has take they take a cut from the retailer right they take a transaction fee same thing with the miners every time they process a transaction this was actually going to take part of that fee and rather than going to the miners they were going to burn it like literally lighting it on fire and it was going to reduce significantly the rate of inflation of ethereum well it did that miners were going to lose NUMBER_TOKEN to NUMBER_TOKEN percent per transaction on the transaction fees and they have but the problem is because ethereum it's not gone deflationary i know people keep throwing that term around but the rate of inflation for ethereum has reduced so much that's what's skyrocketing the price right now additionally ethereum and bitcoin even though bitcoin's not gpu mineable they track almost one to one in terms of every time bitcoins up ethereum follows that's going on right now and bitcoin is up as i'm as i'm doing this right now up to NUMBER_TOKEN NUMBER_TOKEN. so it's spiked as well so what's going on right now is that unfortunately mining profitability rather than going down as a result of eip NUMBER_TOKEN which is what we're all hoping would happen has actually skyrocketed and if you look at the profitability of an rtx NUMBER_TOKEN right now on a per day basis it was at six dollars and NUMBER_TOKEN cents a month ago it's now eight dollars and NUMBER_TOKEN cents now that is a NUMBER_TOKEN increase in profitability and a lot of miners are saying hey profits are going back up ethereum seems like it's taking off um so whatever ethereum i mine now yes i'm getting NUMBER_TOKEN at the current value of ethereum but if it keeps going up i'm holding that ethereum and it's going to go up in value so i'm actually going to be getting even more money i'm going to go out and start buying graphics cards and all the miners that i follow all the kind of mining thought leaders out there are telling people right now go buy gpus go buy gpus yes it's a you know it's a little bit of a risk because ethereum is going to proof of stake and we'll get there in a second when we talk about the how do we finally get out of this gpu crisis it is coming the end is coming but right now at least a lot of miners are saying go buy gpus let's crank this thing up again whereas before because of the price crash for ethereum they were all holding so what's you know what's keeping the the price from absolutely skyrocketing right now is that miners are coming back
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