https://cryptoslate.com/ethereum-mining-no-longer-profitable-for-many-miners-as-energy-prices-and-eth-dip-cause-perfect-storm
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Complexity will drop and the energy required will go down and it will become profitable again. It's designed to handle this kind of thing.
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In some sense, sure. The more people mining, the less profitable mining is - as people exit mining, it will become more profitable for the remaining rubes.
But if it's only profitable with 10% the current number of miners, that's a serious blow. And, more realistically, it'll float around the point where it becomes unprofitable, so the people who stay will see very little actual profit.
Put another way, the only reason it was so profitable before was because there weren't enough GPUs to saturate demand. If demand drops and there's enough GPUs to saturate, it's gonna just stay at the breakeven point.
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It always tends towards the break even point and the marginal additional miner with the highest cost per flop was always barely making enough to make it worthwhile to mine. It's a lot like oil fields with a high cost of extraction.
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shut up, we are laughing at cryptoids
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No
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