GPU mining= profitability going down the drain.

[mazuma]

Sell me your cards pussy. And stuff ur face on the pillow and bawl out crying about profitability amateur.

[Amph]

the profit continues to drop... getting to the point where it is not profitable anymore..

you can just mine new coin at release when diff is low, then shut down your miner and wait for the next one

[iukea]

read this  https://bitcointalk.org/index.php?topic=509961.0


It's Scrypt mining in the cloud

[wasamata]

the profit continues to drop... getting to the point where it is not profitable anymore..

you can just mine new coin at release when diff is low, then shut down your miner and wait for the next one

Doin that now cheers.

[wasamata]

All trolls will simply be ignored, no point replying to retards looking for a fight on the internet.

[mazuma]

Lol stfu. Get out of here

[trancelord]

theres an extreme oversaturation of these altcoins and its becoming nearly impossible to profit/ride the wave of a new coin...

[s1gs3gv]

The free market at work.

[That Guy]

As a fairly new miner to this crypto world, I'm enjoying how the current economy is, and look forward to how it may be over the coming months.

I can't help but think, those that took out $30k-40k-50k+ loans to build mining farms are shitting bricks though, depending on when they got in.

[stacksmasher]

As a fairly new miner to this crypto world, I'm enjoying how the current economy is, and look forward to how it may be over the coming months.

I can't help but think, those that took out $30k-40k-50k+ loans to build mining farms are shitting bricks though, depending on when they got in.

I spent 25k and am still getting 5k a month 5 mos after ROI so even if you spend 25k right now you can still make some cash you just have to do it smart.

[buy4crypto]

Working off the cost of my rigs now in accumulated cryptos. Hopefully the power in my area will let me continue to mine with profitability, but lately its been moving down faster than early in the year.

[Warning__3]

totally agree! 0,007 per MHash is totally BS :S

[anderl]

totally agree! 0,007 per MHash is totally BS :S

Welcome to cryptos.  What?  Did you think that 100% profits was the norm?!?!?!?  Seems you got hooked during the spike.  Welcome to the reality where profits are 5 to 10% depending on your electrical costs if you are lucky.  At times your expenses will be higher than what you can sell your coins for.  LOL.  N00bs.

[That Guy]

As a fairly new miner to this crypto world, I'm enjoying how the current economy is, and look forward to how it may be over the coming months.

I can't help but think, those that took out $30k-40k-50k+ loans to build mining farms are shitting bricks though, depending on when they got in.

I spent 25k and am still getting 5k a month 5 mos after ROI so even if you spend 25k right now you can still make some cash you just have to do it smart.

Nice one. No doubt good money can be made if you play smart.

[jc12345]

For the ecosystem to work you need suckers that will buy the worthless coins. Unless you can use the coins for something it is worthless. Make a coin that can be used for something. I cannot see a currency not being widely used to have any value. Having said this, the clever and experienced players will know how to use this flawed ecosystem to their advantage.

[DimitriM9]

exact same principle:  if you're mining middle, clever etc. then you're indirectly mining for btc. Are you selling those btc for fiat right way?  

you can sell right away and get the value now in $/£/¥/€, or you can invest for a longer period of time.  

if you're investing in btc for long term value, ignore the short-term profitability.  

But if you're investing in BTC long term it will soon be cheaper to buy BTC from an exchange than run a miner. Im a noob and wasnt mining last summer but surely when it reaches that point you have to pull the plug.

I've only been mining for ~6mo, lurking for a year or so, but the point- I've made more buying/selling hardware (gpus in particular) and buying/trading BTC during the crashes/peaks than mining.

Currently my Scrypt rigs mine ~3000/khs and only churn out .04-.015 BTC/day, but I've made a cpl grand in hardware sales.. Nice thing being, that money's been reinvested in BTC when it slouches.

Look at Bitcoin as a long term investment friend, don't bury yourself in debt attaining a few coins, but don't sell off when the road gets bumpy (unless you've got a few graphics cards you want me to take off your hands on the cheap!)

[paulcipher]

Thinking about it, why would someone buy an altcoin as there is not much that can be done with it. Everyone just converts back to BTC. There is no future earnings potential and you cannot buy something with it. The problem is that there are too many coins out there, with each one following the same pattern from rise to demise. What is needed is a market with only a few coins that are actually accepted as payment. Asics sold out on the basic principle of distributed processing by ruining both Bitcoin and soon Litecoin for the man on the street. Any Scrypt coin is doomed imo. The future for the man on the street is Asic resistant algos like scrypt-n, but then there must be some kind of motivator for people to buy it. It seems like the markets are just full of bag holding miners that want to sell. We need buyers for the coins and who will buy coins if they cannot do anything with them? The buyers out there I think is getting tired of ending up with bags of worthless coins. A lot of the new coins have weak markets because buyers dont want to burn their fingers over and over. The GPUcoin that has just launched is a atep in the right direction by providing some kind of value if it does end up being accepted for GPU purchases, but that is not enough as we need something more than that that is accepted as payment for stuff, not just being traded for other coins. If BTC can be an indicator, perhaps we should learn from it and replace Litecoin with an Asic resistant coin as the BTC alternative produced by the man on the street, not by a few powerful companies. That is of course if we want to keep processing distributed and in the hands of the man on the street.

If we dont keep processing decentralised, we can just as well usea central model where digital money is produced centrally.

Spot on! Who gives a rip about scrypt-n or scrypt jane coins? The only people that care are the people that mine the coins. NO ONE else is buying them and they aren't good for dick. So what's the point? Mining is a complete loosing proposition now. Even you buy into ASIC it still sucks. The ROI is terrible. You're better off just buying BTC with the money you're wasting on mining equipment at this point. Mining is a waste of time. And for the poster that said sell all your shit and get out of mining, i would love to except that the market for selling equipment sucks ass too... Miners are selling at half what they were two months ago and the GPUs themselves maxed out on price a few months ago too. All around ROI is shit. Mining is a stupid waste of time UNLESS you want to do it to learn about hardware or are into other technical aspects. There is no money in it any more. Save your money and just BTC or LTC or if you really want some garbage coin, just convert some BTC, don't bother mining. I can buy like 3.7 million Doge for the price of putting together a miner that would take me over 8 months to pay off! Haha what joke.

[iopq]

any miner that thinks these levels are unprofitable, please take your hash offline, sell your cards and move to florida
those that mined through last summer 'at those profit levels' laugh in your general direction

+1 to this.  BTC under $100 per was no fun.  Still made profit though.

Mined straight through it like a boss.

Not sure you really understand the point here. Earning 0.017 btc per day from a 3 mhs rig is barely breakeven where I am due to high power costs.
When I bought my rig it was twice that. GPU's dont mine bitcoin these days they point at a multipool. Most multipools simply flog scrypt alt coins (non asic resistant).
Since the past few weeks gridcoin has come on board as the first ever script asic miner and as a result alt profitability mining went down (halved).
The question is now if a coin will be worthwhile mining anymore for GPU's or gameover.

depends on your investment strategy:  how long will you keep your coins?  

sounds like you're selling them off right away. if you need the money, sell the rig.  you'll make more money daytrading.  if you're mining for long term value, then ignore the short term profitability. 

might as well save electricity costs and buy the coins directly, for a lot of coins it's cheaper

[primeGPU]

Where are the profitable Asic resistant coins? 

XPM? It's GPU-minable now.

[romang]

Gone are the good old days of litecoin 100 dificulty