More miners = more total hash rate. Thus my % of the total becomes smaller. And my payout is smaller.
Less miners = less total hash rate etc.
More miners usually happens when the price of ETH is higher (from what I understand) BUT each miners total payout per Mh(just to pick a unit of measurement)is smaller. SO it kind of feels like it’s a wash all in all?
I’m actually trying to do some figuring on whether to mine ETH until POS hits and this seems like a really important part to understand.
Price movement doesn’t really effect mining payout one way or another—as long as total hash rates rise and fall (roughly) accordingly. BUT the price of ETH could obviously hurt earning that you are holding in ETH for example (if you needed to liquidate etc)
Am I understanding this correctly? Can anyone link to any helpful articles? Thanks for any input!