I think mining is slowly oversaturated

[theking7426]

I really dont understand how so many people can be so angry about how the difficulty on coins skyrockets.

The fact is that the way these coins are being launched is a little bit flawed in my opinion.

Coins started with super low difficulties before and it made sense because the total hash power out on the internet was very small compared to what it is now since everyone has gone out and bought equipment, myself included.

With the equipment that is now out their ready to be added to a coin in an instant the difficulties should be starting at higher values.

That aside, basically I see it like this:

1. If you spend $300 on a card that gives 650 khash and the total equipment out their mining at that point is 100Ghash then you will make X
2. If you spend the same amount and the total equipment out there available has a mining speed of 400Ghash you will make X/4

(this would be on average as hash power is spread through so many coins, the fact is the average will not change)


At the end of the day you are still making the money you would have been, you are just not making the exponential gains that the higher hash power people have.

**If I missed something let me know**

[Nullu]

this is serious business....its not supposed to be fun. people built big mining farms, putting up their own money, taking on risk. Let the whales swim free, in the end they make networks stronger.

what network stronger? they mine the crap out of them then dump and move to the next....repeat repeat the only people who want new coins to keep being created and exchange listed are flash miners.

Different coin, same formula. It'll keep happening until it stops becoming profitable.

[virtualdn]

^agree and to be honest most of the new cash comes from the noobs, when noobs won't pump anymore on every copycat there will be a problem. quality coins could really make a difference.

[johnngbluntzky]

It's ridiculous. A coin is launched, difficulty jumps to 5,000 in 10 minutes. This is getting to the point where only the big whales can mine something. Someone should make a coin accessible for the less hi-tech people. It's really no fun anymore.

I would make a coin that rigs cannot extramine.

mining is saturated with bullshit devs.  <<-- correction

[hvezdasmrti]

Another facepalm topic. Yes mining is oversaturated, AMD producing high amount of GPUs, ASIC prototype farm at every corner and miners jumping to new coin faster than in one second.

There are still many projects with good potential, but nobody will tell it to you, of course. Look "search" button, spend hours by reading forums and with analyzing and then tell something. Yes easy going noobs will probably still mine litecoin (in better case) or sell GPU because "its not profitable".

[Morticio]

No one would miss the next "doge" "eac" "quark" "ltc" noob not near to go away...

[krak3n]

I'm actually rather enjoying what's happening at the moment, there's 3 coins a day being released and the big-rigs are scrambling to jump on everyone, but only 3-6 of the 100 released in the next fortnight will go big.

So it's actually spreading out the miners so the average single GPU miner has a chance. Just wait for a coins release, let the big rigs have their fun and then start mining when they all leave to chase the next new coin and the difficult dives to something more manageable.

You just need to be the smart miners who mine the right coins. And to be honest i'm very doubtful any of these memecoins are going to last more than 2 months. Except doge... and maybe catcoin.