GPU mining= profitability going down the drain.

[wasamata]

Where are the profitable Asic resistant coins? 

Now that you have "ASIC" for Scrypt as well, the only good resistant coins are the CPU coins.
Try MemoryCoin. It has a bright future in my opinion and it's price right now is at the lowest point it would be on.

Can I mine it with my gpu rig?

[HCLivess]

Where are the profitable Asic resistant coins? 

Now that you have "ASIC" for Scrypt as well, the only good resistant coins are the CPU coins.
Try MemoryCoin. It has a bright future in my opinion and it's price right now is at the lowest point it would be on.

Can I mine it with my gpu rig?

yes, there is a GPU miner, although this was not originally intended

http://memorycoin.org/gpu-miner/

[karsy]

Vertcoin.org

I think that is the best bet for the future. Currently mining.

[Alohaboy?!]

the altcoin game is over , too many crap coins.

Hodl Litecoin and Bitcoin .

What you'll see in the next couple of years will be a 'big three' emerge; Bitcoin (BTC), Goldcoin (GLD), and Litecoin (LTC).

Goldcoin .. really?

[wasamata]

the altcoin game is over , too many crap coins.

Hodl Litecoin and Bitcoin .

What you'll see in the next couple of years will be a 'big three' emerge; Bitcoin (BTC), Goldcoin (GLD), and Litecoin (LTC).

This is not a "spam your portfolio" thread please gtfo.

[atp1916]

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.

[KingSchultz]

Has nothing to do with ASICs... this is what happens when 1) GPU's have been selling out everywhere for months and 2) hundreds of shitcoins are now diluting the investments heading towards anything solid.

[wasamata]

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.

[wasamata]

Has nothing to do with ASICs... this is what happens when 1) GPU's have been selling out everywhere for months and 2) hundreds of shitcoins are now diluting the investments heading towards anything solid.

Right..So the recent unveiling of multiple 20 gigahash Chinese gridcoin scrypt farms have no impact..I beg to differ.
I will agree on point 2 though.

[kalus]

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. 

[wasamata]

sounds like you're selling them off right away.

Waffle, middle, clevermining, always auto convert them to bitcoins.

[kalus]

sounds like you're selling them off right away.

Waffle, middle, clevermining, always auto convert them to bitcoins.

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.  

[wasamata]

Yes that's true but I invest in a few coins as well as btc especially TEK. I dont sell them to fiat ever and I don't need to sell the rig just thinking for future re scrypt jane vs scrypt.

[CryptoBullion]

CureCoin should fix the issue of having "worthless" gpus.... folding proteins is something done best by gpus and there is no folding asic in sight.

By the way... Reikicoin folding pool has just started up at cryptobullionpools.com roughly 2.2 million RKC will be given out to folders in ~15 days or so. Dont miss out on the fun! We are folding for cures and giving out a bunch of coins!

This is the last and final test before official CureCoin launch 

Personally, I think the algorithm changing scene is getting fubar.... Why waste your gpu power when u can help cure serious cancers and other diseases ? Ive joined into a group of people that have given up mining for coins via the old methods. Its time to use those gpus for something useful.

peace

[cowandtea]

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

[kalus]

Yes that's true but I invest in a few coins as well as btc especially TEK. I dont sell them to fiat ever and I don't need to sell the rig just thinking for future re scrypt jane vs scrypt.

I treat costs associated with mining differently with buying currency.  mining has residual value in the hardware.  production-wise, the 10mh i put to litecoin costs the same as the 10mh i put to cagecoin. 

if you don't sell your investments, then the profitability hasn't dipped much relative to BTC.  removing the comparison to fiat (because you don't sell your mined coins) all cryptos have a downward trend, so i certainly don't see a slight dip in profit equating to "going down the drain" as OP states.  

i think the profitability problem is overstated, but even a small dip in profitability starts to show who spent money they could afford to lose, and who bought their equipment on credit.  

I am waiting for the profitability to drop further:  take out some of these weaker miners so i can start buying equipment for reasonable prices again.  

[evillittlegoat]

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.

[markm]

Mining is designed to tend toward zero profit. Only the most efficient miners should survive, and that includes having the cheapest electricity rates.

Mining should thus probably end up being seasonal in parts of the world where people need heat anyway, but at some point the coins mined will not offset the heating bill enough to make up for using electric heat instead of some other method of heating, unless electricity is cheap there.

People in places that get a lot of sun or wind or flowing water should be able to hold out a while if they can use solar and wind and water power to drive their effective electricity cost down enough. But mining is a commodity, it does not make sense to do it in locations that are not the most efficient locations.

So basically find out where/how to get the cheapest possible electricity...

-MarkM-

[CoinBuzz]

Where are the profitable Asic resistant coins? 

Take a look at vertcoin.

OR

POS coins like NXT.

[mazuma]

I dont know how mark m nd bcx have the patience for these fuckn newbs who keep bitchn about droppn profits everyday. How do you keep maintaining your cool with these fuckn bitches.