This thread more like proving "something". Comparing one device to another, and will not give us an estimated profit in a long-term (-even may not be worth on the short-term), of course. But the discussion below OP's post may be useful as new miner reference. (I hope  )

---

I heard that too. 50 Ksol/s 620W (The sales price is $9999), Holy Crap!

The Middle East?

With that electricity cost, I'm sure that was heaven for the miners. In my area, electricity cost almost doubled from yours. But' I can say for sure, I'm still getting good profit with my current electricity cost. I'm using GPUs as my mining equipment (-I'm not saying that GPU is better than ASIC), I had done with ASICs a few years ago (-my last ASIC is Antminer S2) in 2014 I think. I'd like to explore, and Graphic Cards more suitable for my passion. 

With 40-50% of Global Hashrate (-NetHash), there is no other option than solo mining. I mean solo mining will be (more..more) better than pooled mining. More than that, we can do 51% attach, right? 

But it's not our guarantee to making a good profit, and it will depend on the amount of block reward and coin prices (-if this coin has listed on the market) comparing to the operational cost. (-if the context is "profit")

It depends on how much your hashing speed you have. If you have at least 10% of global Hashrate, you may better with solo mining than pooled (-it also depends on block reward and block time). If you have more than 25% of Global Hashrate, you've better to do solo mining.

It means you need to collect some coin technical info, so you can calculate using your own way to make an estimation profit (comparing between solo and pooled mining), Then what kind info you need?

block time,
block reward,
Diff & Global Hashrate,
and another technical info that you can find (X info).

Implement that info into the current coin that you were asking (IFX), so you were able to calculate the estimation, which was better between pooled or solo.

---

Which coin are you talking about?

Well,
From the general view, this post is quite impressive. Comparing devices straight to another one, and we don't know what the X variable is. At least it can be a reference for newly miners.

But,
That was only basic comparison table between ASIC and GPU. Maybe the profitability that shown above comes from the same coin while mined by both.

Comparing one ASIC to one GPU isn't fair, one standard GPU rig -at least 6 GPU on it, may fair enough. But still, on a standard comparison -where both operated on the same algorithm/coins, ASICs has better profitability. Except comparing the miners perspective, most of the experienced miner has secret formulas to find their own "gold" coin. That's why even with that comparison table appear everywhere, GPUs still interest for a lot of miners.

As I always said, whatever it is, it will depend on "Whose behind the machine."

Keep going.
I read a lot of pessimistic comment on what you were doing (I wouldn't argue on this side), that was a useful input for you, trust me! I saw a lot of new miners could only ask blah, blah, blah, but you are not, you have a good effort. 

---

Well, even I only receive a bit merits so far, lol.

But
You on the way to go to get merits, just remember! "merit" is nothing, keep spread useful things then merits will come to you.   

just calm down, that was only my warm input. 

Most of the old member, been understand hows "merits" system work. And your target must be newcomers, right? The input that I provide based on it.

Let's get back to your original goal, that you want people to understand how the merit system works. You will face a few types of people that who want to know how the merit system works.

1) People who love to read,
2) People who has less interest to read,
3) People who are completely lazy to read.

It would be better to present something that will attract the three types of those people above. With visual illustration, we have a better chance. IMHO

e.g., Explanation about Bitcoin and hows it works:
https://bitcoin.org/en/

But maybe you are right, explanations about merit may be isn't complicated enough to be an illustrative video like that. Some explanation paragraph may enough to explain it. 

---

To make this forum better was our goal, but you were better, at least you have done it. Again, thumb up for Jet Cash

Of course, the targets must be isn't us, right? 
Then, what kind of people that didn't understand hows "merit" system work? It may refer to all people that you mentioned, Am I right? 

The fact, illustrations more understandable than a tons paragraph of explanation.

Peoples will easily understand when you explain the merits system on visual illustrations (such as Whiteboard animation) instead of giving the alias to "merits" and "sMerit" (your blog readers need to remember the alias for those both when reading your blog post  ).

But that was a nice try! thumb up for Jet Cash 

Actual Hashrate that showed on your mining software will be different with reported Hashrate at the pool sides. Not all hashes that produce by our rig accepted by the pool, so what happened to you was a regular thing. That was normal. 

That was what miners should do. Super agree with that! 

As miners, we had to face a few things that we can't control, such us ASICs expansion. So, focus on what we can do are the best thing that we can to for survive on this crypto mining world. 

On the general view of mining
Mining still profitable, at least for miners that lived in the area that has cheap electricity cost. I assume this is for standard mining (mining on the major coins, doing by regular miners, etc.)

On my personal view
I started mining from 2013. So, I have a lot of experience in mining and to be honest, this experience that makes I always (mostly) got a good profit from mining.

---

Then back to the topic.
Cryptocurrency mining is worth for long-term investment or just wasting time?

You should invest in something that you mastered, at least you understand about it. So, when you know nothing about Cryptocurrency mining, that just wasting your time. But If you know much (experienced enough) or may you were on a learning, I can say for sure that was a good investment, at least at this moment.


I don't have any idea 

You must be an ASIC hater! 

In my opinion, ASIC itself isn't that terrible as you said if we were objective and we were doing fair compare. The one whose may you noted as evil must be the ACISs producer (with some hidden mining, sold used ASICs or whatever). 

Typically, a miner will sell (all mined coin or may some of the coins) or hold the coins for some period (as I'm write on another thread with an almost similar topic).

For the new coins, miners prone to hold the coins and may sell a few as the operational cost. So, miner activity only related to selling coins (mostly). Then the condition that may happen affected by miners is dropped coins value (If miners sell the coins on the massive amount) 

Ah....you were here!

I like this guy, full of mining enthusiasm. Giving, asking, exploring, doing! Good Luck!

Excellent post, by the way. You aren't a regular miner, whatever this coin result, that should giving you  good enough experience and some profit of course (if this coin listed on the market and has some value as you expected  )

Nothing!

Look around and read a few crypto news, so you will understand why the answer to your direct question was "Nothing."

---

So, did you have some other plan, which coin (Algorithm) that interest you more besides the one that you mentioned above?

Seem like you were new on mining, right? You could read more about mining (basic knowledge), then you can move to technical topics and so on. Then you can start to build your first rig, and earn more experience in every process, (and of course some profit  )

with your current improvement cost, adding more GPU to your rig were the best thing that you can do.

You were using MSI B130 gaming edition, from what I saw on Google image, this series, whichever version had four PCIe socket (2 x PCIe 1x - 2 x PCIe 16x). But I'm not sure since you said only three cards could add.

With $500 may you can add one or max two 1060 6Gb, so your current board has good enough for handling all of your cards at this moment. You don't need to add another thing besides GPUs.

---

At this time those 1000 Watt was enough to handle your rig, even when you ad one or two more cards. But you can combine those two with some tools (as above said) or some technique (such as paper clip jump-start).

A bit hard to explain, you were doing right with tried to find new coins on that thread, even you measuring people respond to that coins project. That was a good start! Communities would be one of the coin's future determinant (look at Dogecoin). You should find the other things besides that (related to coin's future).

Another thing that you should do, of course, tried it. Do some experiment, comparing one and other and keep exploring. Trust me, it works! 

Typically, a miner will sell (all mined coin or may some of the coins as Vann said) or hold the coin for some period. So, that wouldn't affect increasing value of coins, Dropping coin value, may Yes (if miners sell coins in the large amount). Miners who bought some coins (that was a different story).

The right story behind mining was:
Miners that doing mining will keep health and secure coins network. And also getting some profit

How about your actual hashrate (that shown on your mining software) Have you check it?

If your actual hashrate was not dropping as shown in your pool, it possible pool issue, If.. you have made normal share to the pool, except your Internet connection making you produce more stale shares to the pool. So, don't forget to check your internet connection! (as above said)

OP's img!