Why does mining profitability keep going down and down?

[Gazza1]

All of the altcoins are following Litecoin.  Litecoin's difficulty has increased 6x since November.  Usually other altcoins are set apart, but they are all following suite in profitability range despite low difficulty.  Why?

If this trend continues, by the time Titan comes out it would only be making around $100 a day.  To start.  Where as right now it would make $500-600 a day.  And just a short time ago it would have made 900-1000 a day.  

We need solutions.

Thoughts, Ideas, Input....

[DemetriusAstroBlack]

Don't buy a titan.  Sucks if you already put money down.

[precrime3]

All of the altcoins are following Litecoin.  Litecoin's difficulty has increased 6x since November.  Usually other altcoins are set apart, but they are all following suite in profitability range despite low difficulty.  Why?

If this trend continues, by the time Titan comes out it would only be making around $100 a day.  To start.  Where as right now it would make $500-600 a day.  And just a short time ago it would have made 900-1000 a day.  

We need solutions.

Thoughts, Ideas, Input....

More people are hopping on. Difficulty goes higher, its a vicious cycle, until difficulty plateaus, profitability increases, more people hop on again, and it starts all over.

[Gazza1]

Don't buy a titan.  Sucks if you already put money down.

What are your more in depth thoughts on this?

[Gazza1]

I am naturally an optimist, and I hate to say it, but things for alt mining are not looking good (in general), at all.  I do firmly believe there are a few coins out there that are completely worthy of long term investment.  

But overall as far as mining goes Profitability continues to decline at an alarming rate.

This really pisses me off.  Just a few months ago I had huge expansion plans.

Thank god for trading.

[markm]

Mining is not meant to be profitable.

It is like churning out no-name products/commodities, ultimately only the most efficient producers with the least salary etc overheads should be able to afford to do it.

If you don't have some of the cheapest electricity in the world, just don't bother, as you are competing with some very low cost electricity out there in various places.

-MarkM-

[Gazza1]

My electricity is pretty cheap.  Only twice as much as some of the worlds cheapest, that's not the issue.  

The issue isn't hardware vs electricity vs budget.  I already have tons of hardware that is done already paid for long ago from profits.  

The issue is why the hell has profitability gone down over 10x since November.  BTC dropped a few ok that's fine.  But alts are taking a beating.

And don't give that mining isn't meant to be profitable crap, that's a comment meant to piss people off and you know it.  Be productive or get out.

[precrime3]

My electricity is pretty cheap.  Only twice as much as some of the worlds cheapest, that's not the issue.  

The issue isn't hardware vs electricity vs budget.  I already have tons of hardware that is done already paid for long ago from profits.

The issue is why the hell is profitability gone down over 10x since November.  BTC dropped a few ok that's fine.  But alts are taking a beating.

I'm guess flooding if shitcoins and 50% premine pump and dumps? In times of trouble, people fall back to what they know, btc & ltc.

[FCR]

Everyone got in at the peak during the hype and now the reality that virtually all altcoins are shitcoins has set in; they are worthless. They exist only for devs to premine and dump, or for price manipulators. There are a few out there that may be worth something in the future. Too many people got burned because everyone thought they were getting free money. There is no free money; it comes from one person and goes to another. I will probably be selling off my hardware a piece at a time to regular computer users.