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Title: GPU mining= profitability going down the drain. Post by: wasamata on March 10, 2014, 07:07:57 AM Where are the profitable Asic resistant coins? ???
Title: Re: GPU mining= profitability going down the drain. Post by: passionsurf on March 10, 2014, 07:11:03 AM I've been worried about this lately too. Because now the coinwarz profitabilty for 1000 Khash has dropped to under $4 per day, whereas two months ago it was around $15 per day. Have these prices fluctuated much in the past? I only first started looking at the markets 2 months ago, so I don't know what coinwarz showed in 2013.
Essentially, I'm wondering is now the time to sell all my mining hardware? Title: Re: GPU mining= profitability going down the drain. Post by: El Dude on March 10, 2014, 07:13:06 AM the altcoin game is over , too many crap coins.
Hodl Litecoin and Bitcoin . Title: Re: GPU mining= profitability going down the drain. Post by: wasamata on March 10, 2014, 07:13:57 AM Yeh, Im wondering if it's time to switch to an asic resistant coin, are there any profitable asic resistant coins out there, because clearly gridseed are raping the GPU coin market..
Title: Re: GPU mining= profitability going down the drain. Post by: kalus on March 10, 2014, 07:14:08 AM the altcoin game is over , too many crap coins. lol @ litecoin not being an altcoinHodl Litecoin and Bitcoin . Title: Re: GPU mining= profitability going down the drain. Post by: El Dude on March 10, 2014, 07:15:57 AM the altcoin game is over , too many crap coins. lol @ litecoin not being an altcoinHodl Litecoin and Bitcoin . nope , not when the devs contributed to the bitcoin/litecoin protocol . It's no longer a altcoin. Title: Re: GPU mining= profitability going down the drain. Post by: kalus on March 10, 2014, 07:20:13 AM the altcoin game is over , too many crap coins. lol @ litecoin not being an altcoinHodl Litecoin and Bitcoin . nope , not when the devs contributed to the bitcoin/litecoin protocol . It's no longer a altcoin. Title: Re: GPU mining= profitability going down the drain. Post by: alani123 on March 10, 2014, 07:21:28 AM http://bitcoinwisdom.com/litecoin/difficulty
Scrypt asics are already out, you can clearly see that the ltc difficulty hasn't risen a bit but there are many coins more profitable than litecoin when it comes to mining now. I personaly have laready switched to scrypt-n mining. Those coins are asic resistant, I think their price will rise in the future. Maybe that's why multipools are less profitable now. Because they're being flooded with high hashrate asic rigs. Whatever the case is, scrypt mining is nothing like bitcoin mining. I remember year ago I would not mine because my daily earnings were 0.01 BTC and it was something like 2$ back then...This was prety stable until it boomed again with dogecoin. I was getting 0.07 a day and since everyone abandoned litecoin for doge, the next week litecoin had a crazy profitability. moral of the story: never stop mining. ;D ;D Title: Re: GPU mining= profitability going down the drain. Post by: wasamata on March 10, 2014, 07:24:30 AM Is there a Script Jane asic resistant coin profitability chart?
Title: Re: GPU mining= profitability going down the drain. Post by: El Dude on March 10, 2014, 07:30:51 AM the altcoin game is over , too many crap coins. lol @ litecoin not being an altcoinHodl Litecoin and Bitcoin . nope , not when the devs contributed to the bitcoin/litecoin protocol . It's no longer a altcoin. yes many litecoin miners , started mining doge and then traded it for Litecoin. thats why now the litecoin difficulty is higher then dog and still soaring thats why dogecoin tanked and is sitting at 0.00087 the dogecoin pump and dump is over , only noob bagholders still think dogecoin is the better coin. Title: Re: GPU mining= profitability going down the drain. Post by: alani123 on March 10, 2014, 07:31:28 AM Is there a Script Jane asic resistant coin profitability chart? Nope. But it's still easy to calcuate it for your own if you know what your hashrate is and you have an account to a pool. Pools usualy provide you with the necessary stats. Title: Re: GPU mining= profitability going down the drain. Post by: kalus on March 10, 2014, 08:16:46 AM yep, when the litecoin hashrate and difficulty can be lowered by a fucking dogecoin. yes many litecoin miners , started mining doge and then traded it for Litecoin. thats why now the litecoin difficulty is higher then dog and still soaring thats why dogecoin tanked and is sitting at 0.00087 don't care about dogecoin. We're both illustrating how quickly the hashrate can be drained from litecoin to a memecoin. litecoin is less secure than you think. Title: Re: GPU mining= profitability going down the drain. Post by: se1111da on March 10, 2014, 10:36:32 AM http://bitcoinscrypt.org/ (http://bitcoinscrypt.org/) http://theotherbitcoin.com/ (http://theotherbitcoin.com/) Decentralized through Vanity Voting ;) https://cryptocointalk.com/topic/3449-decentralizing-development-through-vanity-voting/ (https://cryptocointalk.com/topic/3449-decentralizing-development-through-vanity-voting/) Title: Re: GPU mining= profitability going down the drain. Post by: wasamata on March 10, 2014, 10:41:45 AM Is there a Script Jane asic resistant coin profitability chart? Nope. Why not. Get on it someone. Title: Re: GPU mining= profitability going down the drain. Post by: jc12345 on March 10, 2014, 11:06:06 AM Thinking about it, why would someone buy an altcoin as there is not much that can be done with it. Everyone just converts back to BTC. There is no future earnings potential and you cannot buy something with it. The problem is that there are too many coins out there, with each one following the same pattern from rise to demise. What is needed is a market with only a few coins that are actually accepted as payment. Asics sold out on the basic principle of distributed processing by ruining both Bitcoin and soon Litecoin for the man on the street. Any Scrypt coin is doomed imo. The future for the man on the street is Asic resistant algos like scrypt-n, but then there must be some kind of motivator for people to buy it. It seems like the markets are just full of bag holding miners that want to sell. We need buyers for the coins and who will buy coins if they cannot do anything with them? The buyers out there I think is getting tired of ending up with bags of worthless coins. A lot of the new coins have weak markets because buyers dont want to burn their fingers over and over. The GPUcoin that has just launched is a atep in the right direction by providing some kind of value if it does end up being accepted for GPU purchases, but that is not enough as we need something more than that that is accepted as payment for stuff, not just being traded for other coins. If BTC can be an indicator, perhaps we should learn from it and replace Litecoin with an Asic resistant coin as the BTC alternative produced by the man on the street, not by a few powerful companies. That is of course if we want to keep processing distributed and in the hands of the man on the street.
If we dont keep processing decentralised, we can just as well usea central model where digital money is produced centrally. Title: Re: GPU mining= profitability going down the drain. Post by: FoBoT on March 10, 2014, 11:40:31 AM any miner that thinks these levels are unprofitable, please take your hash offline, sell your cards and move to florida
those that mined through last summer 'at those profit levels' laugh in your general direction Title: Re: GPU mining= profitability going down the drain. Post by: bl0ckchain on March 10, 2014, 11:42:52 AM the altcoin game is over , too many crap coins. Hodl Litecoin and Bitcoin . What you'll see in the next couple of years will be a 'big three' emerge; Bitcoin (BTC), Goldcoin (GLD), and Litecoin (LTC). Title: Re: GPU mining= profitability going down the drain. Post by: Amph on March 10, 2014, 11:46:02 AM lol at mining litecoin, litecoin is doomed, like every other pure scrypt, asic will centralize them as they did with bitcoin
i say mine vertcoin Title: Re: GPU mining= profitability going down the drain. Post by: itsik78 on March 10, 2014, 11:46:44 AM Where are the profitable Asic resistant coins? ??? Now that you have "ASIC" for Scrypt as well, the only good resistant coins are the CPU coins.Try MemoryCoin. It has a bright future in my opinion and it's price right now is at the lowest point it would be on. Title: Re: GPU mining= profitability going down the drain. Post by: wasamata on March 10, 2014, 11:53:03 AM any miner that thinks these levels are unprofitable, please take your hash offline, sell your cards and move to florida those that mined through last summer 'at those profit levels' laugh in your general direction What are you on solar power or something? Its barely break even FFS. Title: Re: GPU mining= profitability going down the drain. Post by: wasamata on March 10, 2014, 11:54:27 AM Where are the profitable Asic resistant coins? ??? Now that you have "ASIC" for Scrypt as well, the only good resistant coins are the CPU coins.Try MemoryCoin. It has a bright future in my opinion and it's price right now is at the lowest point it would be on. Can I mine it with my gpu rig? Title: Re: GPU mining= profitability going down the drain. Post by: HCLivess on March 10, 2014, 02:17:13 PM Where are the profitable Asic resistant coins? ??? Now that you have "ASIC" for Scrypt as well, the only good resistant coins are the CPU coins.Try MemoryCoin. It has a bright future in my opinion and it's price right now is at the lowest point it would be on. Can I mine it with my gpu rig? yes, there is a GPU miner, although this was not originally intended http://memorycoin.org/gpu-miner/ Title: Re: GPU mining= profitability going down the drain. Post by: karsy on March 10, 2014, 02:51:08 PM Vertcoin.org
I think that is the best bet for the future. Currently mining. Title: Re: GPU mining= profitability going down the drain. Post by: Alohaboy?! on March 10, 2014, 03:42:52 PM the altcoin game is over , too many crap coins. Hodl Litecoin and Bitcoin . What you'll see in the next couple of years will be a 'big three' emerge; Bitcoin (BTC), Goldcoin (GLD), and Litecoin (LTC). Goldcoin .. really? Title: Re: GPU mining= profitability going down the drain. Post by: wasamata on March 10, 2014, 03:47:09 PM the altcoin game is over , too many crap coins. Hodl Litecoin and Bitcoin . What you'll see in the next couple of years will be a 'big three' emerge; Bitcoin (BTC), Goldcoin (GLD), and Litecoin (LTC). This is not a "spam your portfolio" thread please gtfo. Title: Re: GPU mining= profitability going down the drain. Post by: atp1916 on March 10, 2014, 03:47:42 PM any miner that thinks these levels are unprofitable, please take your hash offline, sell your cards and move to florida those that mined through last summer 'at those profit levels' laugh in your general direction +1 to this. BTC under $100 per was no fun. Still made profit though. Mined straight through it like a boss. Title: Re: GPU mining= profitability going down the drain. Post by: KingSchultz on March 10, 2014, 03:59:59 PM Has nothing to do with ASICs... this is what happens when 1) GPU's have been selling out everywhere for months and 2) hundreds of shitcoins are now diluting the investments heading towards anything solid.
Title: Re: GPU mining= profitability going down the drain. Post by: wasamata on March 10, 2014, 04:01:14 PM any miner that thinks these levels are unprofitable, please take your hash offline, sell your cards and move to florida those that mined through last summer 'at those profit levels' laugh in your general direction +1 to this. BTC under $100 per was no fun. Still made profit though. Mined straight through it like a boss. Not sure you really understand the point here. Earning 0.017 btc per day from a 3 mhs rig is barely breakeven where I am due to high power costs. When I bought my rig it was twice that. GPU's dont mine bitcoin these days they point at a multipool. Most multipools simply flog scrypt alt coins (non asic resistant). Since the past few weeks gridcoin has come on board as the first ever script asic miner and as a result alt profitability mining went down (halved). The question is now if a coin will be worthwhile mining anymore for GPU's or gameover. Title: Re: GPU mining= profitability going down the drain. Post by: wasamata on March 10, 2014, 04:05:46 PM Has nothing to do with ASICs... this is what happens when 1) GPU's have been selling out everywhere for months and 2) hundreds of shitcoins are now diluting the investments heading towards anything solid. Right..So the recent unveiling of multiple 20 gigahash Chinese gridcoin scrypt farms have no impact..I beg to differ. I will agree on point 2 though. Title: Re: GPU mining= profitability going down the drain. Post by: kalus on March 10, 2014, 04:08:32 PM any miner that thinks these levels are unprofitable, please take your hash offline, sell your cards and move to florida those that mined through last summer 'at those profit levels' laugh in your general direction +1 to this. BTC under $100 per was no fun. Still made profit though. Mined straight through it like a boss. Not sure you really understand the point here. Earning 0.017 btc per day from a 3 mhs rig is barely breakeven where I am due to high power costs. When I bought my rig it was twice that. GPU's dont mine bitcoin these days they point at a multipool. Most multipools simply flog scrypt alt coins (non asic resistant). Since the past few weeks gridcoin has come on board as the first ever script asic miner and as a result alt profitability mining went down (halved). The question is now if a coin will be worthwhile mining anymore for GPU's or gameover. sounds like you're selling them off right away. if you need the money, sell the rig. you'll make more money daytrading. if you're mining for long term value, then ignore the short term profitability. Title: Re: GPU mining= profitability going down the drain. Post by: wasamata on March 10, 2014, 04:10:45 PM sounds like you're selling them off right away. Waffle, middle, clevermining, always auto convert them to bitcoins. Title: Re: GPU mining= profitability going down the drain. Post by: kalus on March 10, 2014, 04:14:20 PM sounds like you're selling them off right away. Waffle, middle, clevermining, always auto convert them to bitcoins. you can sell right away and get the value now in $/£/¥/€, or you can invest for a longer period of time. if you're investing in btc for long term value, ignore the short-term profitability. Title: Re: GPU mining= profitability going down the drain. Post by: wasamata on March 10, 2014, 04:30:19 PM Yes that's true but I invest in a few coins as well as btc especially TEK. I dont sell them to fiat ever and I don't need to sell the rig just thinking for future re scrypt jane vs scrypt.
Title: Re: GPU mining= profitability going down the drain. Post by: CryptoBullion on March 10, 2014, 04:47:33 PM CureCoin should fix the issue of having "worthless" gpus.... folding proteins is something done best by gpus and there is no folding asic in sight.
By the way... Reikicoin folding pool has just started up at cryptobullionpools.com (http://cryptobullionpools.com) roughly 2.2 million RKC will be given out to folders in ~15 days or so. Dont miss out on the fun! We are folding for cures and giving out a bunch of coins! This is the last and final test before official CureCoin launch ;D Personally, I think the algorithm changing scene is getting fubar.... Why waste your gpu power when u can help cure serious cancers and other diseases ? Ive joined into a group of people that have given up mining for coins via the old methods. Its time to use those gpus for something useful. peace Title: Re: GPU mining= profitability going down the drain. Post by: cowandtea on March 10, 2014, 04:55:34 PM the profit continues to drop... getting to the point where it is not profitable anymore..
Title: Re: GPU mining= profitability going down the drain. Post by: kalus on March 10, 2014, 05:52:59 PM Yes that's true but I invest in a few coins as well as btc especially TEK. I dont sell them to fiat ever and I don't need to sell the rig just thinking for future re scrypt jane vs scrypt. I treat costs associated with mining differently with buying currency. mining has residual value in the hardware. production-wise, the 10mh i put to litecoin costs the same as the 10mh i put to cagecoin. if you don't sell your investments, then the profitability hasn't dipped much relative to BTC. removing the comparison to fiat (because you don't sell your mined coins) all cryptos have a downward trend, so i certainly don't see a slight dip in profit equating to "going down the drain" as OP states. i think the profitability problem is overstated, but even a small dip in profitability starts to show who spent money they could afford to lose, and who bought their equipment on credit. I am waiting for the profitability to drop further: take out some of these weaker miners so i can start buying equipment for reasonable prices again. Title: Re: GPU mining= profitability going down the drain. Post by: evillittlegoat on March 10, 2014, 06:40:03 PM exact same principle: if you're mining middle, clever etc. then you're indirectly mining for btc. Are you selling those btc for fiat right way? you can sell right away and get the value now in $/£/¥/€, or you can invest for a longer period of time. if you're investing in btc for long term value, ignore the short-term profitability. But if you're investing in BTC long term it will soon be cheaper to buy BTC from an exchange than run a miner. Im a noob and wasnt mining last summer but surely when it reaches that point you have to pull the plug. Title: Re: GPU mining= profitability going down the drain. Post by: markm on March 10, 2014, 06:50:29 PM Mining is designed to tend toward zero profit. Only the most efficient miners should survive, and that includes having the cheapest electricity rates.
Mining should thus probably end up being seasonal in parts of the world where people need heat anyway, but at some point the coins mined will not offset the heating bill enough to make up for using electric heat instead of some other method of heating, unless electricity is cheap there. People in places that get a lot of sun or wind or flowing water should be able to hold out a while if they can use solar and wind and water power to drive their effective electricity cost down enough. But mining is a commodity, it does not make sense to do it in locations that are not the most efficient locations. So basically find out where/how to get the cheapest possible electricity... -MarkM- Title: Re: GPU mining= profitability going down the drain. Post by: CoinBuzz on March 10, 2014, 08:51:26 PM Where are the profitable Asic resistant coins? ??? Take a look at vertcoin. OR POS coins like NXT. Title: Re: GPU mining= profitability going down the drain. Post by: mazuma on March 10, 2014, 09:26:22 PM I dont know how mark m nd bcx have the patience for these fuckn newbs who keep bitchn about droppn profits everyday. How do you keep maintaining your cool with these fuckn bitches.
Title: Re: GPU mining= profitability going down the drain. Post by: mazuma on March 10, 2014, 10:03:43 PM Sell me your cards pussy. And stuff ur face on the pillow and bawl out crying about profitability amateur.
Title: Re: GPU mining= profitability going down the drain. Post by: Amph on March 10, 2014, 10:04:31 PM the profit continues to drop... getting to the point where it is not profitable anymore.. you can just mine new coin at release when diff is low, then shut down your miner and wait for the next one Title: Re: GPU mining= profitability going down the drain. Post by: iukea on March 10, 2014, 10:05:53 PM read this https://bitcointalk.org/index.php?topic=509961.0
It's Scrypt mining in the cloud Title: Re: GPU mining= profitability going down the drain. Post by: wasamata on March 10, 2014, 10:26:17 PM the profit continues to drop... getting to the point where it is not profitable anymore.. you can just mine new coin at release when diff is low, then shut down your miner and wait for the next one Doin that now cheers. Title: Re: GPU mining= profitability going down the drain. Post by: wasamata on March 10, 2014, 10:28:35 PM All trolls will simply be ignored, no point replying to retards looking for a fight on the internet.
Title: Re: GPU mining= profitability going down the drain. Post by: mazuma on March 10, 2014, 10:32:34 PM Lol stfu. Get out of here
Title: Re: GPU mining= profitability going down the drain. Post by: trancelord on March 11, 2014, 10:10:02 PM theres an extreme oversaturation of these altcoins and its becoming nearly impossible to profit/ride the wave of a new coin...
Title: Re: GPU mining= profitability going down the drain. Post by: s1gs3gv on March 11, 2014, 11:13:24 PM The free market at work.
Title: Re: GPU mining= profitability going down the drain. Post by: That Guy on March 11, 2014, 11:24:31 PM As a fairly new miner to this crypto world, I'm enjoying how the current economy is, and look forward to how it may be over the coming months.
I can't help but think, those that took out $30k-40k-50k+ loans to build mining farms are shitting bricks though, depending on when they got in. ;D Title: Re: GPU mining= profitability going down the drain. Post by: stacksmasher on March 12, 2014, 01:02:18 AM As a fairly new miner to this crypto world, I'm enjoying how the current economy is, and look forward to how it may be over the coming months. I can't help but think, those that took out $30k-40k-50k+ loans to build mining farms are shitting bricks though, depending on when they got in. ;D I spent 25k and am still getting 5k a month 5 mos after ROI so even if you spend 25k right now you can still make some cash you just have to do it smart. Title: Re: GPU mining= profitability going down the drain. Post by: buy4crypto on March 12, 2014, 01:10:55 AM Working off the cost of my rigs now in accumulated cryptos. Hopefully the power in my area will let me continue to mine with profitability, but lately its been moving down faster than early in the year.
Title: Re: GPU mining= profitability going down the drain. Post by: Warning__3 on March 12, 2014, 01:18:20 AM totally agree! 0,007 per MHash is totally BS :S
Title: Re: GPU mining= profitability going down the drain. Post by: anderl on March 12, 2014, 02:15:16 AM totally agree! 0,007 per MHash is totally BS :S Welcome to cryptos. What? Did you think that 100% profits was the norm?!?!?!? Seems you got hooked during the spike. Welcome to the reality where profits are 5 to 10% depending on your electrical costs if you are lucky. At times your expenses will be higher than what you can sell your coins for. LOL. N00bs. Title: Re: GPU mining= profitability going down the drain. Post by: That Guy on March 12, 2014, 02:48:39 AM As a fairly new miner to this crypto world, I'm enjoying how the current economy is, and look forward to how it may be over the coming months. I can't help but think, those that took out $30k-40k-50k+ loans to build mining farms are shitting bricks though, depending on when they got in. ;D I spent 25k and am still getting 5k a month 5 mos after ROI so even if you spend 25k right now you can still make some cash you just have to do it smart. Nice one. No doubt good money can be made if you play smart. Title: Re: GPU mining= profitability going down the drain. Post by: jc12345 on March 12, 2014, 12:58:10 PM For the ecosystem to work you need suckers that will buy the worthless coins. Unless you can use the coins for something it is worthless. Make a coin that can be used for something. I cannot see a currency not being widely used to have any value. Having said this, the clever and experienced players will know how to use this flawed ecosystem to their advantage.
Title: Re: GPU mining= profitability going down the drain. Post by: DimitriM9 on March 12, 2014, 03:22:59 PM exact same principle: if you're mining middle, clever etc. then you're indirectly mining for btc. Are you selling those btc for fiat right way? you can sell right away and get the value now in $/£/¥/€, or you can invest for a longer period of time. if you're investing in btc for long term value, ignore the short-term profitability. But if you're investing in BTC long term it will soon be cheaper to buy BTC from an exchange than run a miner. Im a noob and wasnt mining last summer but surely when it reaches that point you have to pull the plug. I've only been mining for ~6mo, lurking for a year or so, but the point- I've made more buying/selling hardware (gpus in particular) and buying/trading BTC during the crashes/peaks than mining. Currently my Scrypt rigs mine ~3000/khs and only churn out .04-.015 BTC/day, but I've made a cpl grand in hardware sales.. Nice thing being, that money's been reinvested in BTC when it slouches. Look at Bitcoin as a long term investment friend, don't bury yourself in debt attaining a few coins, but don't sell off when the road gets bumpy (unless you've got a few graphics cards you want me to take off your hands on the cheap!) ;D Title: Re: GPU mining= profitability going down the drain. Post by: paulcipher on April 03, 2014, 11:54:19 PM Thinking about it, why would someone buy an altcoin as there is not much that can be done with it. Everyone just converts back to BTC. There is no future earnings potential and you cannot buy something with it. The problem is that there are too many coins out there, with each one following the same pattern from rise to demise. What is needed is a market with only a few coins that are actually accepted as payment. Asics sold out on the basic principle of distributed processing by ruining both Bitcoin and soon Litecoin for the man on the street. Any Scrypt coin is doomed imo. The future for the man on the street is Asic resistant algos like scrypt-n, but then there must be some kind of motivator for people to buy it. It seems like the markets are just full of bag holding miners that want to sell. We need buyers for the coins and who will buy coins if they cannot do anything with them? The buyers out there I think is getting tired of ending up with bags of worthless coins. A lot of the new coins have weak markets because buyers dont want to burn their fingers over and over. The GPUcoin that has just launched is a atep in the right direction by providing some kind of value if it does end up being accepted for GPU purchases, but that is not enough as we need something more than that that is accepted as payment for stuff, not just being traded for other coins. If BTC can be an indicator, perhaps we should learn from it and replace Litecoin with an Asic resistant coin as the BTC alternative produced by the man on the street, not by a few powerful companies. That is of course if we want to keep processing distributed and in the hands of the man on the street. If we dont keep processing decentralised, we can just as well usea central model where digital money is produced centrally. Spot on! Who gives a rip about scrypt-n or scrypt jane coins? The only people that care are the people that mine the coins. NO ONE else is buying them and they aren't good for dick. So what's the point? Mining is a complete loosing proposition now. Even you buy into ASIC it still sucks. The ROI is terrible. You're better off just buying BTC with the money you're wasting on mining equipment at this point. Mining is a waste of time. And for the poster that said sell all your shit and get out of mining, i would love to except that the market for selling equipment sucks ass too... Miners are selling at half what they were two months ago and the GPUs themselves maxed out on price a few months ago too. All around ROI is shit. Mining is a stupid waste of time UNLESS you want to do it to learn about hardware or are into other technical aspects. There is no money in it any more. Save your money and just BTC or LTC or if you really want some garbage coin, just convert some BTC, don't bother mining. I can buy like 3.7 million Doge for the price of putting together a miner that would take me over 8 months to pay off! Haha what joke. Title: Re: GPU mining= profitability going down the drain. Post by: iopq on April 04, 2014, 12:08:13 AM any miner that thinks these levels are unprofitable, please take your hash offline, sell your cards and move to florida those that mined through last summer 'at those profit levels' laugh in your general direction +1 to this. BTC under $100 per was no fun. Still made profit though. Mined straight through it like a boss. Not sure you really understand the point here. Earning 0.017 btc per day from a 3 mhs rig is barely breakeven where I am due to high power costs. When I bought my rig it was twice that. GPU's dont mine bitcoin these days they point at a multipool. Most multipools simply flog scrypt alt coins (non asic resistant). Since the past few weeks gridcoin has come on board as the first ever script asic miner and as a result alt profitability mining went down (halved). The question is now if a coin will be worthwhile mining anymore for GPU's or gameover. sounds like you're selling them off right away. if you need the money, sell the rig. you'll make more money daytrading. if you're mining for long term value, then ignore the short term profitability. Title: Re: GPU mining= profitability going down the drain. Post by: primeGPU on April 04, 2014, 12:34:21 AM Where are the profitable Asic resistant coins? ??? XPM? It's GPU-minable now.Title: Re: GPU mining= profitability going down the drain. Post by: romang on April 04, 2014, 03:07:50 AM Gone are the good old days of litecoin 100 dificulty
Title: Re: GPU mining= profitability going down the drain. Post by: B2BigAl on April 04, 2014, 04:04:47 AM It isn't just GPU profitability that's way down, its everything. Asics are a terrible investment too. If you're a student of history, you'll know that the people who got rich during the California gold rush weren't the miners, it was the people selling the mining equipment. Same is true for crypto. Unless you manage to get ahold of the latest and greatest asics before everyone else, and get real lucky mining, you're playing a losing game too if your angle is to mine and dump.
That said, I'm not a big time miner by any stretch, I have ~5Mh. I knew the bubble would pop in dramatic fashion, and it is, so I didn't go overextend myself buying gpus or delude myself into thinking I would keep making huge profits. What I am doing is continuing to mine what I think has a future and diversifying my portfolio. Sure, I'm not making any money atm, but it may pay off in the future. I want to get my hands on as much btc, ltc, etc as I can while the diff and prices are down. I'm in this for the long haul, not a quick buck. Title: Re: GPU mining= profitability going down the drain. Post by: wasamata on April 04, 2014, 04:17:54 AM Well I tried mining new coins on day 1 and just had nothing but troubles. Especially scrypt n coins, total shite.
My CGwatcher has about 125 different coin options and about the same amount of wallets have been unzipped-most are just absolute garbage. I have on more than one occaision stayed up all night for a coin launch only to fund either the coin died, the wallet farked, the pool was useless, "add numerous other problems here". I find the X11 is a nice algo to mine as it lowers my costs and risk. Also POS is a nice way to get invest if your sick of mining at a loss. Title: Re: GPU mining= profitability going down the drain. Post by: paulcipher on April 04, 2014, 04:21:33 AM What I am doing is continuing to mine what I think has a future and diversifying my portfolio. What other than BTC has a future? You can't do anything with any other "coin", they're all hot air and none of them offer anything different. The whole altruistic idea of pre-allocating for a certain population is stupid too because the ONLY thing anyone will do with it (IF they can figure out how) is cash out. NO ONE is going to offer any legit goods or services for any other than BTC and even that is pretty sketchball. All this shit is smoke and mirrors. You were correct that the people making the money are the ones selling the mining equipment but even that has had a short-lived bubble as that is no longer profitable because the market was flooded with these extremely over-priced and uncomplicated specialized computers. The general populace was interested for about 30 seconds but no longer cares. Pretty much there is no money nor any future in any of this. If you want "coins" then just buy BTC, sit on it and sell it when the bubble inflates again or just buy shit with it. Either way any other "coin" doesn't DO anything and isn't good for anything more than a cheap yet fading rush when you mine a few thousand and for about a milisecond you think oh man this might blow up! Then you realize that's not happening nor is it going to ever happen. Waste of money, all of it. So many better things to invest in... short or LONG term. Title: Re: GPU mining= profitability going down the drain. Post by: SpeedDemon13 on April 04, 2014, 04:28:44 AM It isn't just GPU profitability that's way down, its everything. Asics are a terrible investment too. If you're a student of history, you'll know that the people who got rich during the California gold rush weren't the miners, it was the people selling the mining equipment. Same is true for crypto. Unless you manage to get ahold of the latest and greatest asics before everyone else, and get real lucky mining, you're playing a losing game too if your angle is to mine and dump. That said, I'm not a big time miner by any stretch, I have ~5Mh. I knew the bubble would pop in dramatic fashion, and it is, so I didn't go overextend myself buying gpus or delude myself into thinking I would keep making huge profits. What I am doing is continuing to mine what I think has a future and diversifying my portfolio. Sure, I'm not making any money atm, but it may pay off in the future. I want to get my hands on as much btc, ltc, etc as I can while the diff and prices are down. I'm in this for the long haul, not a quick buck. Nicely put, with the gold rush example. Levi's did totally great in that era of the US history. LOL Unless your a hardware/software production company, mining pool, coin dev and/or crypto exchange owner, you truly are not going to get rich in general. Think of a crypto miner being an independ contractor/work for a major company. I see alot of people not treat Crypto like stocks, when they seem to act in a similar way. Both are volatile and have huge swings. You have to do you due diligence in researching trends of crypto, like in stocks for companies. I personally stop buying gpu's at the moment, keeping most of my equipment. Waiting to see how the AMD HBM(High Bandwidth Memory) technology pans out. I usually buy my gpu's used off of Craigslist, saves me a tons of cash. LOL Title: Re: GPU mining= profitability going down the drain. Post by: silamb on April 04, 2014, 05:18:31 AM I completely stopped my rigs. I am getting only 1000kh hashrate. It is not profitable at all for me after power cost.
Title: Re: GPU mining= profitability going down the drain. Post by: stokecrypto on April 04, 2014, 06:09:33 AM mine darkcoin 60% more profitability over script and script-n due to 60% less power consumption.
good btc a day rate aswell Title: Re: GPU mining= profitability going down the drain. Post by: Joerii on April 04, 2014, 05:53:27 PM X11. Hirocoin or Darkcoin.
Title: Re: GPU mining= profitability going down the drain. Post by: gpools on April 04, 2014, 06:15:08 PM Mine HVC 50% less power consumption.
Title: Re: GPU mining= profitability going down the drain. Post by: softron on April 04, 2014, 06:24:06 PM Try hirocoin. X11 algorithm
Title: Re: GPU mining= profitability going down the drain. Post by: efc17 on April 04, 2014, 11:10:05 PM Pool fee is 0% ! GHash.IO SCRYPT Multi Pool is open for beta testing, if anyone is interested.(invite required)
I'm trying it out atm, looks good. some nice user defined settings, such as:
The most active testers will be rewarded with GHS! If anyone would like to sign up feel free to use referral ghash (https://cex.io/r/2/efc17/0/). Much appreciated Title: Re: GPU mining= profitability going down the drain. Post by: azhago on April 05, 2014, 01:28:45 PM You can try GroestlCoin, wich use the most power efficient algo out there (a little more than X11).
Not really profitable, as all altcoin today, but you will lose less power cost and it has a future https://bitcointalk.org/index.php?topic=525926.0 Title: Re: GPU mining= profitability going down the drain. Post by: Svener on April 05, 2014, 01:53:56 PM I saw something happen with a currency recently on Poloniex(1st April) that made me think that this one can go up a shitload if even a few big buyers had to come in.
I am not going to give the coins name but it's by far the most undervalued coin and it's a coin you can buy stuff with already. I think if things turn around certain coins will jump in price and you just have to be patient for now. |