why are profits dropping so fast?

[bigblind]

Hello Community!

I still cannot follow up why profits (coinwarz-calculator) are dropping so fast. I mean ofc the Price/BTC has dropped to nearly half. But still from day to day it gets lower.

Is it the Altcoinmarket dieng?
Is it because from day to day more and more people start to mine?

I'm running currently 7200kh/s and i dont see reaching the ROI as expected within 2 months..

[1714876158]

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[kozmos]

Cause of MT. Gox crisis which had been floating and still on the surface for a while.


http://www.tweaktown.com/news/35851/mt-gox-loses-437-million-in-bitcoins-files-for-bankruptcy/index.html

[chinabreak123]

lol

[tyz]

in my opinion, two factors causing the drop of the price. First, the crisis of confidence for cryptocoins resulting in the insolvency of Mtgox and all the bad press/news followed by this. Second, there are tons of altcoins which are thrown on the market daily. People try to invest their fiat into those new coins hoping to get rich very fast. This fiat money is withdrawn from the stable and established one's like bitcoin.

[brokedummy]

More and more Scrypt asics raping the market each day with auto-exchanging profit-switching pools.

[Alohaboy?!]

More and more Scrypt asics raping the market each day with auto-exchanging profit-switching pools.

but in my opinion this won´t get far because of new coins with asic blocking features..

[tokeweed]

because all altcoins follow bitcoin's price.

your question should be, 'why do altcoins follow bitcoin's price?'

[Amph]

too many new user want their part, most of them are noobs that dump as a soon as a possible...

[DubFX]

Because all altcoins are binded to BTC rate, that's why.

[hostmaster]

because when coinwarz make one coin top big whales attacking itand killing profibility.

[gadado]

I still wonder who buys all this coins anyway. Makes no sense for me. They are not in anyway really useable. (with very few exceptions)

[tifozi]

Yah they are shitcoins and the same 5-6 "developers" are happy to collude with the pool ops and newish exchanges to dump the scam on newbies who have come to the scene through the dogecoin propaganda. "Altcoins" (LOL if you want to call that) are not dying, they are thriving. In fact we might be approaching release of 3-4 shitcoins/day very soon where dumb newbies will keep giving their BTCs away for the daily scam.

[hvezdasmrti]

Yup the profitability is still too good if we imagine how many crapcoins are at the market. Its only more and more difficult to sell high because pumps are too fast and dumps following instantly back to the absolute bottom very quickly. People just learned altcoins to use as a regular loterry. You bet and wait for win or lose. Good players bet on coins which are cheap, sheeps buy coins which are being pumped.

The same happens with miners.

Noobs mine LTC, doge.

Another noobs mine per multipools.

Better miners know how to jump the queue.

[BitCoinPokerBro]

multipools mining 100's of BTC a day from the most profitable coins

[niothor]

ALL CRYPTO COINS ARE DEAD

TIME TO CUT LOSSES AND SELL ALL YOUR GPU'S NOW ON EBAY.





~BCX~


***True statements are always in caps, red and 16+ bold font.

Really , all of them?  Including BTC ?
Cause off all cryptos , bitcoin is the only one that has already died four or five times.

[hvezdasmrti]

The more deaths, the more adidas.

[Oldminer]

haha

[mazuma]

good. I hope people like bigblind drop out. Fucking idiots with their short sighted get rich quick dreams. Oh my 7000 hash is not doing it up anymore. Fuck off dude

[fcmatt]

Because people are not buying these altcoins and driving up the price. Most people are selling. It is a lopsided market right now and in a short time we might be par with ltc soon.

[claycoins]

Yeah because its all based on Bitcoin - the site ranks profitability based on mining a bitcoin directly and bitcoin's hash rate/difficulty is also increasing. 

[kelsey]

As a trader I am happy, half the equation is buy low  

Though on the negative side I think the market is over saturated with 100s of coins all filling the same niche. Too many coins, too many premine pump n dump scams run in a row.

If people stop buying the pump n dump scamcoins for quick profits and went after more established coins the overall market conditions would be better.

Last time we had this point a few articles in the press boosted the market, but again we've hit saturation point where not enough new monies coming in....what will turn it around this time?

[mazuma]

i agree 100% with  kelsey. I think in time (soon hopefully), what you said will become reality. How much longer can this shit go on, i for one am all for it, since i mine to support crypto, something on the side, sometimes i make returns, sometimes i dont. Most of these fucking newbz go on reddit and are promised make money while you sleep schemes making rigs and when shit  turns sour, morons like OP post this shit up. Its like pump and dumps go hand in hand with these posts.

Edit : as a trader aswell, im buying a few different coins at this point because i think in time shits going to pick up again. Only the strong will survive

[DubFX]

ALL CRYPTO COINS ARE DEAD

TIME TO CUT LOSSES AND SELL ALL YOUR GPU'S NOW ON EBAY.





~BCX~


***True statements are always in caps, red and 16+ bold font.

This statement seems as legit as it could be...the bigger font=the legitter.

[kalus]

I'm running currently 7200kh/s and i dont see reaching the ROI as expected within 2 months..

well THERE's your problem....

[bigblind]

i agree 100% with  kelsey. I think in time (soon hopefully), what you said will become reality. How much longer can this shit go on, i for one am all for it, since i mine to support crypto, something on the side, sometimes i make returns, sometimes i dont. Most of these fucking newbz go on reddit and are promised make money while you sleep schemes making rigs and when shit  turns sour, morons like OP post this shit up. Its like pump and dumps go hand in hand with these posts.

Edit : as a trader aswell, im buying a few different coins at this point because i think in time shits going to pick up again. Only the strong will survive

wow dude, can't you argument on an objective way? I'm just trying to learn a little more about crypto. stop being such a moron.

I'm also seeing the altcoinmarket critical how it has been emerging the last weeks. I just want to know which factors might play a role for a price of altcoins compared to bitcoins (because they don't seem to have any viable role for future, except maybe new algorythms like VTC and so on)

Reaching ROI shouldnt be the bigger problem (as I don't calculate with ROI mainly at all) - and after all I'm also doing it to be part of that community and because I want to see where it will be lead to in the next months/years worldwide and political wise.

[Amph]

you can still reach roi pretty fast, just be there when a new coin is launched, that's all you need

[Nullu]

In every crisis there is an opportunity to profit. Someone else's loss is your gain. If I had the fiat currency to afford it, I would be buying up bitcoin right now and stuffing my boots with the most promising altcoins on the market, and then wait for Bitcoin's price to inevitably rise, along with my altcoin portfolio.

As it stands, you're not really going to profit from this current lull unless you put fiat into BTC, or already had a good amount of BTC before the price crash, as everything in cryptocurrency more or less falls along with BTC. There are a few exceptions where some altcoins have remained relatively price stable (PMC for example, but I am sure there are others), so I would feel safer investing in those stable altcoins right now, as I expect them to go up once market confidence in BTC comes back.

I'm almost certain it will come back. In the absolute worst case situation, if BTC were to fall off the face of the earth, another coin will take its place. Crypto is here to stay.

[XbladeX]

More and more Scrypt asics raping the market each day with auto-exchanging profit-switching pools.

Look at greed seed and USB script/sha256 miners.

[raizor]

I'm running currently 7200kh/s and i dont see reaching the ROI as expected within 2 months..

well THERE's your problem....

Hahaha. Indeed. A little patience is a good thing.

[eddilicious]

ALL CRYPTO COINS ARE DEAD

TIME TO CUT LOSSES AND SELL ALL YOUR GPU'S NOW ON EBAY.





~BCX~


***True statements are always in caps, red and 16+ bold font.

Really , all of them?  Including BTC ?
Cause off all cryptos , bitcoin is the only one that has already died four or five times.

I am thinking bitcoin is the biggest problem. when btc drops 10%, all other crypto drops 20% or 70%. and when we look coinwarz, the whole gang of SHA-256 coins are forever at the bottom of the profitability chart(I use 10GHz for SHA256 and 500k for Scrypt). ASIC takes over is not a good thing for SHA-256 in a whole. it is just a matter of time for it to finally kill bitcoin.

[niothor]

ALL CRYPTO COINS ARE DEAD

TIME TO CUT LOSSES AND SELL ALL YOUR GPU'S NOW ON EBAY.





~BCX~


***True statements are always in caps, red and 16+ bold font.

Really , all of them?  Including BTC ?
Cause off all cryptos , bitcoin is the only one that has already died four or five times.

I am thinking bitcoin is the biggest problem. when btc drops 10%, all other crypto drops 20% or 70%. and when we look coinwarz, the whole gang of SHA-256 coins are forever at the bottom of the profitability chart(I use 10GHz for SHA256 and 500k for Scrypt). ASIC takes over is not a good thing for SHA-256 in a whole. it is just a matter of time for it to finally kill bitcoin.

When are you all going to understand that mining isn't related to the price of the coins?

And when bitcoin we'll be "killed" you will kiss your sorry ass copy clones goodbye too.

Shitclones are dropping faster because people are getting scared and they rush to buy btc to convert them to usd. Simple as that.

[eddilicious]

ALL CRYPTO COINS ARE DEAD

TIME TO CUT LOSSES AND SELL ALL YOUR GPU'S NOW ON EBAY.





~BCX~


***True statements are always in caps, red and 16+ bold font.

Really , all of them?  Including BTC ?
Cause off all cryptos , bitcoin is the only one that has already died four or five times.

I am thinking bitcoin is the biggest problem. when btc drops 10%, all other crypto drops 20% or 70%. and when we look coinwarz, the whole gang of SHA-256 coins are forever at the bottom of the profitability chart(I use 10GHz for SHA256 and 500k for Scrypt). ASIC takes over is not a good thing for SHA-256 in a whole. it is just a matter of time for it to finally kill bitcoin.

When are you all going to understand that mining isn't related to the price of the coins?

And when bitcoin we'll be "killed" you will kiss your sorry ass copy clones goodbye too.

Shitclones are dropping faster because people are getting scared and they rush to buy btc to convert them to usd. Simple as that.

the key phrase here is "convert them to usd", that is when ppl lose confidence on the crypto coin altogether.

the reason why the rest is falling faster, because all devs were focused on copying new coins, no real development happens in whole alt world. that is pure speculations for every one who read this thread.

[niothor]

ALL CRYPTO COINS ARE DEAD

TIME TO CUT LOSSES AND SELL ALL YOUR GPU'S NOW ON EBAY.





~BCX~


***True statements are always in caps, red and 16+ bold font.

Really , all of them?  Including BTC ?
Cause off all cryptos , bitcoin is the only one that has already died four or five times.

I am thinking bitcoin is the biggest problem. when btc drops 10%, all other crypto drops 20% or 70%. and when we look coinwarz, the whole gang of SHA-256 coins are forever at the bottom of the profitability chart(I use 10GHz for SHA256 and 500k for Scrypt). ASIC takes over is not a good thing for SHA-256 in a whole. it is just a matter of time for it to finally kill bitcoin.

When are you all going to understand that mining isn't related to the price of the coins?

And when bitcoin we'll be "killed" you will kiss your sorry ass copy clones goodbye too.

Shitclones are dropping faster because people are getting scared and they rush to buy btc to convert them to usd. Simple as that.

the key phrase here is "convert them to usd", that is when ppl lose confidence on the crypto coin altogether.

the reason why the rest is falling faster, because all devs were focused on copying new coins, no real development happens in whole alt world. that is pure speculations for every one who read this thread.

Devs?  Don't use that word for the alt coins. There are so few real devs working on them i need to cut my fingers to count them properly.

[eddilicious]

ALL CRYPTO COINS ARE DEAD

TIME TO CUT LOSSES AND SELL ALL YOUR GPU'S NOW ON EBAY.





~BCX~


***True statements are always in caps, red and 16+ bold font.

Really , all of them?  Including BTC ?
Cause off all cryptos , bitcoin is the only one that has already died four or five times.

I am thinking bitcoin is the biggest problem. when btc drops 10%, all other crypto drops 20% or 70%. and when we look coinwarz, the whole gang of SHA-256 coins are forever at the bottom of the profitability chart(I use 10GHz for SHA256 and 500k for Scrypt). ASIC takes over is not a good thing for SHA-256 in a whole. it is just a matter of time for it to finally kill bitcoin.

When are you all going to understand that mining isn't related to the price of the coins?

And when bitcoin we'll be "killed" you will kiss your sorry ass copy clones goodbye too.

Shitclones are dropping faster because people are getting scared and they rush to buy btc to convert them to usd. Simple as that.

the key phrase here is "convert them to usd", that is when ppl lose confidence on the crypto coin altogether.

the reason why the rest is falling faster, because all devs were focused on copying new coins, no real development happens in whole alt world. that is pure speculations for every one who read this thread.

Devs?  Don't use that word for the alt coins. There are so few real devs working on them i need to cut my fingers to count them properly.

agree. For a dev, it takes at least a couple months to learn about a protocol, and 1 year or 2 part time to develop something funny, or useful that can build up the follower base. The problem for all alter is, there are too many, changing face too fast. before someone spend time to understand the protocol, it has been dumped into abyss already. no real progress can be made. and no one bother to do it, the common sentence here is, we are all here for the money, right?

it is not just about shitcoin, it is about shit community too.

[silvestar]

ALL CRYPTO COINS ARE DEAD

TIME TO CUT LOSSES AND SELL ALL YOUR GPU'S NOW ON EBAY.





~BCX~


***True statements are always in caps, red and 16+ bold font.

Really , all of them?  Including BTC ?
Cause off all cryptos , bitcoin is the only one that has already died four or five times.

I am thinking bitcoin is the biggest problem. when btc drops 10%, all other crypto drops 20% or 70%. and when we look coinwarz, the whole gang of SHA-256 coins are forever at the bottom of the profitability chart(I use 10GHz for SHA256 and 500k for Scrypt). ASIC takes over is not a good thing for SHA-256 in a whole. it is just a matter of time for it to finally kill bitcoin.

When are you all going to understand that mining isn't related to the price of the coins?

And when bitcoin we'll be "killed" you will kiss your sorry ass copy clones goodbye too.

Shitclones are dropping faster because people are getting scared and they rush to buy btc to convert them to usd. Simple as that.

the key phrase here is "convert them to usd", that is when ppl lose confidence on the crypto coin altogether.

the reason why the rest is falling faster, because all devs were focused on copying new coins, no real development happens in whole alt world. that is pure speculations for every one who read this thread.

Devs?  Don't use that word for the alt coins. There are so few real devs working on them i need to cut my fingers to count them properly.

agree. For a dev, it takes at least a couple months to learn about a protocol, and 1 year or 2 part time to develop something funny, or useful that can build up the follower base. The problem for all alter is, there are too many, changing face too fast. before someone spend time to understand the protocol, it has been dumped into abyss already. no real progress can be made. and no one bother to do it, the common sentence here is, we are all here for the money, right?

it is not just about shitcoin, it is about shit community too.

true lol.

[niteglider]

While btc wallows around, the alts are weak too, even thought their values are pegged to btc and not to usd.  Notice that the stock market is rising, as well as silver and gold. Could it be that the timid money has headed for the exits and that people have stashed their cash back in traditional investments?  I think that with alts at lows, this is a great time to put btcs into promising alts and wait for the tide to rise again.

[mazuma]

wow dude, can't you argument on an objective way? I'm just trying to learn a little more about crypto. stop being such a moron.

I'm also seeing the altcoinmarket critical how it has been emerging the last weeks. I just want to know which factors might play a role for a price of altcoins compared to bitcoins (because they don't seem to have any viable role for future, except maybe new algorythms like VTC and so on)

Reaching ROI shouldnt be the bigger problem (as I don't calculate with ROI mainly at all) - and after all I'm also doing it to be part of that community and because I want to see where it will be lead to in the next months/years worldwide and political wise.

My reply to u is still the same. Go fuck urself. Ur a fucking hypocrite.  Taking about learning crypto yet your post reeks of crying about dropping profits.  If you were about the community you wouldnt be bitching.

[hellscabane]

There are multiple factors: the Mt. Gox insolvency and bankruptcy, the over-saturation of clonecoins, a lot of newcomers looking to get as much as possible with short-term gains, and Scrypt ASICs.

Don't get me wrong though, the profits right now are still pretty comparable to a year ago.

That said, don't expect to make ROI that quickly in general in the GPU mining scene.

[hellscabane]

you can still reach roi pretty fast, just be there when a new coin is launched, that's all you need

And a pinch of luck. Not all coins are winners. Hehe.

[disclaimer201]

You guys want to take a look at DigitalCoin again. No premine, no scam, active development since June last year.

[niothor]

There are multiple factors: the Mt. Gox insolvency and bankruptcy, the over-saturation of clonecoins, a lot of newcomers looking to get as much as possible with short-term gains, and Scrypt ASICs.

Don't get me wrong though, the profits right now are still pretty comparable to a year ago.

That said, don't expect to make ROI that quickly in general in the GPU mining scene.

Everyone is talking about them but are there really asics 4 scrypt on the market capable of killing gpu mining?

[hellscabane]

There are multiple factors: the Mt. Gox insolvency and bankruptcy, the over-saturation of clonecoins, a lot of newcomers looking to get as much as possible with short-term gains, and Scrypt ASICs.

Don't get me wrong though, the profits right now are still pretty comparable to a year ago.

That said, don't expect to make ROI that quickly in general in the GPU mining scene.

Everyone is talking about them but are there really asics 4 scrypt on the market capable of killing gpu mining?

I should clarify and state that I think the current affect in the mining realm is that people are starting to consolidate costs in anticipation for the more powerful ASICs that are possible to be produced within this year; so that is affecting mining.

Currently, at the moment, there are Gridseeds, which are pretty solid (300 kH/s at 7 W/h) overclockable to 400 kH/s but I wouldn't say that those are enough to "kill" GPU mining for Litecoins and its clones. However, I feel fairly confident in at least one of the other major designers producing sometime this year. If (and despite my confidence, there is still a modicum of doubt) everything comes to fruition, that's looking at a possible influx of up to 200 GH/s within the first few waves.

[fcmatt]

There are multiple factors: the Mt. Gox insolvency and bankruptcy, the over-saturation of clonecoins, a lot of newcomers looking to get as much as possible with short-term gains, and Scrypt ASICs.

Don't get me wrong though, the profits right now are still pretty comparable to a year ago.

That said, don't expect to make ROI that quickly in general in the GPU mining scene.

Everyone is talking about them but are there really asics 4 scrypt on the market capable of killing gpu mining?

It is not killing gpu mining yet and if prices for scrypt coins keep falling the interest in paying up for these asics will wane. It basically takes, using round numbers, 10,000 khash/sec to make 0.1 btc per day. So those buying asics are in it for the long term to lower energy costs... Not a mad rush yet cause the numbers are not overwhelming to rush out and buy them.

[defaced]

people are scared. good time to buy though.

[kelsey]

people are scared. good time to buy though.

+1

"buy when there's blood on the street even if the bloods your own"

[faraway]

people are scared. good time to buy though.

+1

"buy when there's blood on the street even if the bloods your own"

+1, Anyway we have now a huge release of useless new coins, aiming a single pump and dump; And with the Mt GOX  issues, it will take time for a full market recovery.

[niothor]

people are scared. good time to buy though.

+1

"buy when there's blood on the street even if the bloods your own"

+1, Anyway we have now a huge release of useless new coins, aiming a single pump and dump; And with the Mt GOX  issues, it will take time for a full market recovery.

When I look at http://coinmarketcap.com/2.html , places 100 to 140 ,I don't know what to do , laugh or cry.
Why do people continue to make those coins right now it's beyond me.

And those are the coins that got an exchanger , not the ones that are still in the dark.

[fcode]

The fact is, a change to any coin's algorithm will make all the ASIC hardware worthless. This could be a selling feature of alt-coins in that they require general purpose and easily available computing devices to mine and are more fair to the general population.

[wasamata]

gridseed 

[leafer]

hope they will be up again.