January 11th 2022 Ravencoin is halving its block rewards. This means that the rewards per block is being cut in half. Currently each block rewards 5,000 Raven coin and after tomorrow, each block will reward 2,500 Raven coin. Checkout a live countdown here.
Will this change the price:
Halving the block rewards means that there will be less Raven coin mined each day, overtime this will help create scarcity. This means that we most likely will not see a price increase immediately. There will also have to be more demand for the coin, as there are already 10,473,290,000 Raven coins in the Total supply with a maximum of 21,000,000,000 or just about half of the total supply has been mined. With a 24 hour trading volume of $118,368,688 at a current price of $0.091 per coin we can see a good amount of people are interested in the coin. The total market cap is sitting right around 1 billion, which is 2 billion below ETC but above other popular POW coins like Flux and Firo. This makes it the more popular coin out of the three current alternatives, and with the principles of RVN coin it has become on of the favorites for popular YouTube miners like Sebsfin Tech and Red Panda Mining. I have personally moved over my smaller rig to mine RVN coin before this halving happens, and hopefully will continue to mine it (depending on profitability)
LHR Card Profits Before Halving:
Disclaimer: Profits will be based off of $0.10 per kw/h
RVN coin has been a good alternative for LHR cards and older GPUs running on pascal. So here are a few compared to ETH profitability. Mining RVN coin does use more power and usually runs cards harder because it uses both the memory and processor heavily. The KawPow algorithm does this to help prevent the use of ASICS.
GPU | RVN | ETH |
3060LHR | $1.22 | $1.37 |
3070LHR | $1.52 | $1.78 |
3080LHR | $2.19 | $2.88 |
1080 | $0.81 | $1.25 |
Why Do Miners Like RVN Coin:
GPU Miners like to mine RVN coin because of the principles. RVN coin started with no coins being pre-mined, this means there isn't someone out there with a massive wallet large enough to crash the price of the coin. The algorithm also runs smoothly on older GPU's, as well as the DAG size only being 3.18GB right now. This means GPU's with 4GB can still mine the coin. RVN coin is also a fork of BTC, with the success of BTC and this coin being based off it, its bound to have some success. If we look at what has happened to the price of BTC after each halving, the price rose significantly, so many are speculating the same will happen with RVN. Lastly the algorithm will help prevent companies from building ASICS and take over the market. This will also help the network become more decentralized with smaller miners getting larger profits while GPU mining due to less network hash rate and difficulty. With RVN coin you can also mine to MinerPool and get rewarded each week with extra coins! On the pool there is a loyalty program, so for every week per every 10mh/s you have on the network, you get 1 RVN coin. RVN coin is also working on getting listed on more exchanges like Crypto.com. Currently you can buy and sell RVN coin but you can't send RVN coin.
