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..

[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 This fiat money is withdrawn from the stable and established one's like bitcoin.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.