Is your RIG still running? Profitable?

[Oldminer]

Obligatory "And so it begins.." post 

[Vann]

My rig runs on electricity. Whether or not mining is profitable depends on user input.

[HCLivess]

if you think hirocoin will be next DRK, you're wrong

[cryptohunter]

if you think hirocoin will be next DRK, you're wrong

+1 hiro coin was a ninja launched scam coin. That coin was ninja launched and instamined by dev and his pals.

Avoid it, the huge amount of easy coins has gone to a few people that are trying to pump that junk.

[Nxtblg]

People mined bitcoin when they were worthless, look at them now. Just because at this very moment it isn't profitable, doesn't mean it wont turn out to be.

K.

You just hit the nail on the head. If mining for income is no longer profitable, then mining the altcoin with most promise will be the way to play. Pick an altcoin on the same basis that a shrewd speculator would, and mine-and-hold.

Funny how all roads in Altcoin Town end at Speculation Square 

[kp3254]

Remember the old saying. "Can't go broke making a profit".

[lemfuture]

i stopped since its summer. too costly to fire up the miner + aircon at the sametime add to the injury that all coins are going down with bitcoin
i advise you to just invest directly

[Kruncha]

People mined bitcoin when they were worthless, look at them now. Just because at this very moment it isn't profitable, doesn't mean it wont turn out to be.

K.

You just hit the nail on the head. If mining for income is no longer profitable, then mining the altcoin with most promise will be the way to play. Pick an altcoin on the same basis that a shrewd speculator would, and mine-and-hold.

Funny how all roads in Altcoin Town end at Speculation Square 

It's true, lol. Don't let the FUDsters put you off, that is exactly what they want to do. It's so you don't get the huge profits that they'll get.

This game has been taken from us by the big guns. Expect deception and corruption at every turn, but always hold, coz they won't beat us!

K.

[Acidyo]

Hello Everyone, I wanted to solicit your opinion on whether I should shut down my RIG.

So I started Jan 1st, spent $1,500 on my 4x7970 RIG.

I started making 0.30 BTC avg. worth $30 minus $5 daily for electricity my net was  $25/day. (mining alt of course)

Well, I never sold any BTC so it was never realized profit, but by March 1st I had made 1.5 BTC.

Then March hit. Gridseeds flooded the (Chinese) market before ever making it to the rest of the world and profits sank for everyone else doing GPU mining. Scrypt-N showed up but coin developers were very slow in making hundreds of clones so those have not become profitable either.

So... profits for me are down to 0.012BTC day, (BTC is in the $440 range) making my profit worth $6 /day minus $5 in electricity and now I'm down to $1/day which is not worth the noise and the space it takes over and certainly more than what I lose on depreciation of the parts. My RIG as is is prbably worth $1,000 or less (it was worth $3,000 in Jan).

So as of tonight it seems like I need to shut down the RIG.

So I'm here asking any one of you who is in the same boat (anyone doing GPU probably is). What are you guys doing? What are you mining? What is your advise for me?

Thanks!

lots of us have the same problem,but ill still mine even with a loss but for future profit.is it smart or dumb only time will tell

It's a gamble really.

[Acidyo]

People mined bitcoin when they were worthless, look at them now. Just because at this very moment it isn't profitable, doesn't mean it wont turn out to be.

K.

Big difference is that bitcoins almost always had an uptrend. Since March 1st things are not rosy there either.

The bubble has burst, now we just wait for the next jump, my predictions are in the 1800-2600$ range.

[cryptohunter]

There is simply no point to ever mine at a loss. It simply does not make any sense. You may as well buy the coins you would mine at a loss.  

Sell most rigs, keep one or two for the 1 in 100 half decent prospects that may come out.  Use the funds to buy coins you believe have a good chance of appreciating.

[Spoetnik]

scroll scroll scroll.. mega bullshit propaganda

bagholders spouting bs .

i did some checking 3 days ago now and scrypt-n (Vertcoin) was a hair under 3x more profitable to mine than Dark coin was..
and factoring market values and trends i can safely say Darkcoin is on the high side price wise and VTC is on the low side.

people don't know what the hell they are taking about.. facts are facts

many of the guys that commented here ignored when i had posted this info before and showed up here spouting X11 bs
even though they just acknowledged what i said previously.. they play dumb about it lightning fucking fast !

OP i hear ya jeez i am in the same boat my profit mining alts have been slaughtered
and you can take my advice over others because i am honest about it and don't suffer from fanboyism like most douches around here
and i have been doing it all far longer than the majority of these guys and experience counts !

for your situation, do i mine or not ? you gotta look at the current and future market value of the alt's and whether it's likely they are going to explode in value later
and like i just said i think Dark coin is on the high side compared to VTC being lower (scrypt-n vs x11) market price wise
and i think that is the majority is being fed X11 bs lol

i think we're tied to Bitcoin too so look at the bitcoinwisdom values lately and right now it just hit 420 and i went and looked at cryptsy and my investment is even lower..

don't take advice from noobs that know fuck all you'll regret it

[dzonikg28]

Meybe you are noob 2 ..i mine heavy coin and power usage  is 50% less then mining scipt or script-n ..not to mention so much less temperatures and noise..but profitable is like on every coin horrible now..MTGox sht and ASIC for scrypt fuck up totaly everything

[RocketsFlySohigh]

scroll scroll scroll.. mega bullshit propaganda

bagholders spouting bs .

i did some checking 3 days ago now and scrypt-n (Vertcoin) was a hair under 3x more profitable to mine than Dark coin was..
and factoring market values and trends i can safely say Darkcoin is on the high side price wise and VTC is on the low side.

people don't know what the hell they are taking about.. facts are facts

many of the guys that commented here ignored when i had posted this info before and showed up here spouting X11 bs
even though they just acknowledged what i said previously.. they play dumb about it lightning fucking fast !

OP i hear ya jeez i am in the same boat my profit mining alts have been slaughtered
and you can take my advice over others because i am honest about it and don't suffer from fanboyism like most douches around here
and i have been doing it all far longer than the majority of these guys and experience counts !

for your situation, do i mine or not ? you gotta look at the current and future market value of the alt's and whether it's likely they are going to explode in value later
and like i just said i think Dark coin is on the high side compared to VTC being lower (scrypt-n vs x11) market price wise
and i think that is the majority is being fed X11 bs lol

i think we're tied to Bitcoin too so look at the bitcoinwisdom values lately and right now it just hit 420 and i went and looked at cryptsy and my investment is even lower..

don't take advice from noobs that know fuck all you'll regret it

This thread was hilariously noobish, blatant and manipulative at once. Took a while for somebody with more sense in their head to step in! You spoiled the fun! But on the other hand, you're protecting the newbies who might consider the preious advice in this thread seriously.

so X11....where do I begin
Even if we forget about the fact that all the 11 algos and the way they are chained is fairly ASIC adaptable,.. what is even worse about X11 ARE ITS MAIN PROPONENTS, DarkCoin and Hirocoin! Why? THEY BOTH SUFFERED A HEFTY PREMINE! Just look through the DarkCoin reddit, the DarkCoin community is even aware of that but pretends like its ok to shield their investment. So greedy!
If Einsteineium forks to X11 I will probably mine it for a few days to get a few, even though I find it slightly silly.
The logical next big thing is Vertcoin. WHY? The devs and the community are commited to be antiASIC, its been publicly stated by a dev. If they even make a scrypt-n ASIC, it will get screwed by a hard fork.
And also, Vertcoin aims to get in circulation, get merchants and payment platforms involved and is already seeing success in that regard. DarkCoin is nowhere near to that and Hirocoin is nowhere near Dark.

Also, mining to instacash out has been foolish for months. Now mining makes sense if you intend to hold altcoins/BTC for quite a while. If you dont have the resources/balls/cheap elec just stay out and buy BTC/alts directly.
Just my 2 cents of sanity. 

[brooklynite]

Hello Everyone, I wanted to solicit your opinion on whether I should shut down my RIG.

So I started Jan 1st, spent $1,500 on my 4x7970 RIG.

I started making 0.30 BTC avg. worth $30 minus $5 daily for electricity my net was  $25/day. (mining alt of course)

Well, I never sold any BTC so it was never realized profit, but by March 1st I had made 1.5 BTC.

Then March hit. Gridseeds flooded the (Chinese) market before ever making it to the rest of the world and profits sank for everyone else doing GPU mining. Scrypt-N showed up but coin developers were very slow in making hundreds of clones so those have not become profitable either.

So... profits for me are down to 0.012BTC day, (BTC is in the $440 range) making my profit worth $6 /day minus $5 in electricity and now I'm down to $1/day which is not worth the noise and the space it takes over and certainly more than what I lose on depreciation of the parts. My RIG as is is prbably worth $1,000 or less (it was worth $3,000 in Jan).

So as of tonight it seems like I need to shut down the RIG.

So I'm here asking any one of you who is in the same boat (anyone doing GPU probably is). What are you guys doing? What are you mining? What is your advise for me?

Thanks!

thats actually pretty good money, whats your hash rate ?

Started off with 4 x 7970 at 2.9Mh/s one burnt out replaced with 6970 now Im at 2.73 MH/s stable. Now I barely make 0.011 BTC/Day so its actually less than when I started this thread this morning, Im at almost zero now when you include how much pools cheat us out of the coins we mine compared to what calculators (coinwarz or the pool itself) show.

[rembrandtt]

If I'm mining vertcoin and I drop my hashrate to ~33% thereby reducing electricity cost,  my daily profit will be same as X11.  It seems.  What's with the "nscrypt bad x11 good" propaganda?

[Ximp]

You could try mining on the BC multipool.

http://blackcoinpool.com/

[brooklynite]

One good thing about DRK is that its not on coinwarz so it doesnt get slaughtered by massive hashrate when profitability goes up.

Bad thing about it is that its x11 which is ASIC friendly.

[MuffinMaster]

You could try mining on the BC multipool.

http://blackcoinpool.com/

indeed... bc price seems stable even as btc tanks

[brooklynite]

You could try mining on the BC multipool.

http://blackcoinpool.com/

BC should just die. You cant mine it anymore, if I wanted to buy a coin I would buy BTC, not Blackcoin. Its pretty much 100% premined at this point except instead of one developer 100 people collectively own all the black coins. Everyone buying is just making those 100 people rich. Stupid people do though.