Hi thanks for reading, I have been interested in cryptos for about 3 years but wasn’t sure how to get started or whether to buy crypto or mine crypto. I want to invest about 1500$ (increase that to more in the future) in mining since I live in a country were power is only 0.06-0.09 per kwh. For that price point it seems that eth mining is the most profitable. I have already done extensive research about cryptos and understand risks and everything however there was something I was unsure about. Bitcoins algorithm calls for a halving right around every 4 years (I know its based on when the blocks are mined) but for eth I haven’t been able to find much about how the block reward changes. I learned that it has changed from its original 5 block reward to 3 then again to 2 but couldn’t find out why? Also have heard things that based on the amount of people mining eth the difficultly of block rewards increases is that true?
So to summarize my questions are:
For a 1500$ budget (for now) it seems that a mining rig of 6 580 8gb cards are the best investment to get started would you agree?
How does the thirdening for eth work? Any idea when the next one will occur? Does the amount of people mining affect the difficultly or rewards for mining eth if so how will it affect my rigs profitability in the future?
If I were to setup a 6 gpu mining rig with rx580 8gb cards I’d want it to remain profitable for around 3-4 years which based on current stats it should unless there’s something I’m missing? (Assume price doesn’t move from current position).
Any advise or help is greatly appreciated! Thanks!