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Author Topic: why are profits dropping so fast?  (Read 3787 times)
niothor
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March 02, 2014, 10:17:59 PM
 #41

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?


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March 02, 2014, 10:36:49 PM
 #42

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.
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March 02, 2014, 10:40:53 PM
 #43

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.
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March 02, 2014, 10:56:32 PM
 #44

people are scared. good time to buy though.

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March 02, 2014, 11:03:17 PM
 #45

people are scared. good time to buy though.

+1

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

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March 02, 2014, 11:17:17 PM
 #46

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
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March 02, 2014, 11:44:15 PM
 #47

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.


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March 03, 2014, 02:16:54 PM
 #48

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.
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March 03, 2014, 02:35:04 PM
 #49

gridseed  Huh
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March 03, 2014, 02:54:04 PM
 #50

hope they will be up again.
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