is scrypt mining ever going to be worth it again?

[cabinetmaker]

gone bye bye.........can you hear me now?

[jjj0923]

Every one is saying that scrypt mining is not profitable anymore, especially for those using graphics cards, and I agree.
right now it is at about 1 dollar (US) per megahash of hashing power. So unless you have 100 motherboards running with 5 7950's, it isn't profitable to be running any units.


They are also saying that by the time we get our 300Mh machines form knc, it will, again, be even ,more worthless, because they are going to premine the units (making them USED units not NEW units, as they(knc) say) and that alone will drive the price of alt-coins down even further than they are, already. Not to mention, difficulty, etc  making it harder to mine them, and the price(s) declining on it's/their own.

So when will any coin rise to the value of btc, or even ltc, or even a buck, besides those who already hit that platform and are on their way down with the rest?
Even the ones that have been there longer than most (LTC, FTC, INF and more) have lost so much value it isn't worth stock piling them any more. Thousands, hundreds of thousands and even millions of these coins are now worthless.

If I just buy coins and trade them it is not even close to profitable, as 99% of alt-coins lose value every day.

What will drive the price up? (please don't say pump and dump, that is fraud and is against the law, just like for stocks, and I hate those words). Those words, in themselves have probably driven the price down, MORE,  on all coins, than any other words. Only the people who are in on the scam will profit, from pump and dump, anyway. And if you believe this is all  just a pump and dump scheme, just say so now, so we can let the word know this is all just a well conceived scam.

When will it ever  be profitable again?

And what is the new frontier?

$1 her mhs?  I'm getting close to $2/mhs daily and a lot more with new coins....

[sikman]

And what is the new frontier?  Keep GPU rig's going.

Personally all these 100-200-300MH ASIC Scrypt killer's will smash most coins and you will be lucky to break even but I could be wrong... My saviour is NON-SCRYPT algo's...

Currently I have around 24MH+ (39 GPU's and have switched over to X11 algo ( Darkcoin) and now leasing all my rigs with a return on 0.19btc per 24 hours...

[jjj0923]

And what is the new frontier?  Keep GPU rig's going.

Personally all these 100-200-300MH ASIC Scrypt killer's will smash most coins and you will be lucky to break even but I could be wrong... My saviour is NON-SCRYPT algo's...

Currently I have around 24MH+ (39 GPU's and have switched over to X11 algo ( Darkcoin) and now leasing all my rigs with a return on 0.19btc per 24 hours...

vertcoin pays real well for hybrid - gpu's will also have a use - I'm keeping one of my rigs going for a long time - besides I enjoy watching all that code roll up the screen as I compile from source.

[gsupp]

And what is the new frontier?  Keep GPU rig's going.

Personally all these 100-200-300MH ASIC Scrypt killer's will smash most coins and you will be lucky to break even but I could be wrong... My saviour is NON-SCRYPT algo's...

Currently I have around 24MH+ (39 GPU's and have switched over to X11 algo ( Darkcoin) and now leasing all my rigs with a return on 0.19btc per 24 hours...

I agree, I'd like to see the number of scrypt alts reduced drastically.

I'm mining x11 (DRK) at home for the lower power and heat, but also invested in some Scrypt-N coins as well.

24MH+, 0.19btc per 24 hours! I'd love to know where you can rent for that rate    (Unless you mean 24MH scrypt)

[leoragraves666]

Actually, if an algorithm is worth something, there will be soon an asic for it. It is inevitable, and is needed for progress. That is why people hoard coins in early phase and wait to see which one makes it.

[sikman]

And what is the new frontier?  Keep GPU rig's going.

Personally all these 100-200-300MH ASIC Scrypt killer's will smash most coins and you will be lucky to break even but I could be wrong... My saviour is NON-SCRYPT algo's...

Currently I have around 24MH+ (39 GPU's and have switched over to X11 algo ( Darkcoin) and now leasing all my rigs with a return on 0.19btc per 24 hours...

I agree, I'd like to see the number of scrypt alts reduced drastically.

I'm mining x11 (DRK) at home for the lower power and heat, but also invested in some Scrypt-N coins as well.

24MH+, 0.19btc per 24 hours! I'd love to know where you can rent for that rate    (Unless you mean 24MH scrypt)

Yes 24MH scrypt power, around 68MH on X11 algo.. PM sent to you about the site I'm using ot rent out

[BCwinning]

Actually, if an algorithm is worth something, there will be soon an asic for it. It is inevitable, and is needed for progress. That is why people hoard coins in early phase and wait to see which one makes it.

that's it pretty much. All these "*-proof" coins will eventually die or someone will design something for them.
It doesn't make sense to invest money into a board design for a coin that might fall flat. Once it has some legs to it and
someone sees a profit than an asic or whatever will be designed for that purpose.
None of it matters if it doesn't catch on in some way.

[gsupp]

And what is the new frontier?  Keep GPU rig's going.

Personally all these 100-200-300MH ASIC Scrypt killer's will smash most coins and you will be lucky to break even but I could be wrong... My saviour is NON-SCRYPT algo's...

Currently I have around 24MH+ (39 GPU's and have switched over to X11 algo ( Darkcoin) and now leasing all my rigs with a return on 0.19btc per 24 hours...

I agree, I'd like to see the number of scrypt alts reduced drastically.

I'm mining x11 (DRK) at home for the lower power and heat, but also invested in some Scrypt-N coins as well.

24MH+, 0.19btc per 24 hours! I'd love to know where you can rent for that rate    (Unless you mean 24MH scrypt)

Yes 24MH scrypt power, around 68MH on X11 algo.. PM sent to you about the site I'm using ot rent out

Ah, that makes sense then 

[gsupp]

Actually, if an algorithm is worth something, there will be soon an asic for it. It is inevitable, and is needed for progress. That is why people hoard coins in early phase and wait to see which one makes it.

that's it pretty much. All these "*-proof" coins will eventually die or someone will design something for them.
It doesn't make sense to invest money into a board design for a coin that might fall flat. Once it has some legs to it and
someone sees a profit than an asic or whatever will be designed for that purpose.
None of it matters if it doesn't catch on in some way.

I agree. I also think x11 was sold as ASIC-resistant, only to actually be ASIC friendly which will help legitimize coins based on it, eventually.

[leoragraves666]

I think someone already made an asic for x11, there was some talk about it.

[BCwinning]

I think someone already made an asic for x11, there was some talk about it.

yea supposedly already mining in china. I think the biggest issue is the software as well.
Why share your program when you can mine and rake it in. I wonder how many of these existing asics could be
used for other coins with just some creative coding.

[Starscream]

just a quick question about supply and demand.

isn't it supposed to go:
the more demand, the shorter the supply, thus driving the price up, not down, kind of like gasoline, or corn?

I would ask someone to explain the significance of why this is just the opposite with crypto coins.

I actually thought this might come up, with the original post.

What? How did you get to the conclusion that it's the opposite in crypto? (cause it's not).

[Starscream]

What? How did you get to the conclusion that it's the opposite in crypto? (cause it's not).

am I reading the above wrong or what?

You wrote "I would ask someone to explain the significance of why this is just the opposite with crypto coins."
But it's not the opposite...

The speculation is that the new asic scrypt miners will drive the price of the coins down, not up.

I will be the first to admit I am wrong if I surely AM reading it wrong. I would love to see them go up, but as far as I  can tell, that won't be the case.

Personally all these 100-200-300MH ASIC Scrypt killer's will smash most coins and you will be lucky to break even but I could be wrong..

How are ASIC devices are related to supply and demand?

[Starscream]

I think the new scrypt miners are asic driven, not gpu driven.

Ofc they are.

and what from what I am reading on this thread and several other threads about the new 80-100, 250, and 400Mh asic driven miners, it is suggested that they will drive the price of crypto coins (scrypt driven, or gpu driven, whatever) down.

No need for future tense. You can look at what's been happening the past few months with the smaller sized ASIC that been flooding the market.

[Starscream]

which is the opposite of supply and demand.
supply and demand would say that ...because the availability of these coins is going to go down, due to the huge spike in mining speed, that the supply would go down, and the price would go up. However, from what I am reading, they are saying the asic moning of scrypt coins will kill all alt scrypt coins and the price will go down.

How is the supply going down? ASIC, or rather, higher network hash rate, doesn't affect the supply of coins that's been added to the system...

[Brewins]

because someone can hash them faster and therefore suck them out of the stream faster, leaving far fewer for the slower hashing systems. They can't be replentishing them as fast as they can mine them ,can they? I am under the impression there is a certain amount of coins (for each coin) that can be mined. I understand some can be replentished, but if people are mining them 100 times faster than before, how fast can this happen? And if this is also true, then what is the idea of mining what is going to be replaced in the first place.

Just like stock,there is only a finite amount of a particular stock, until the stock exchange and the FTC says they can issue more. if the stock automatically replentished itself, what would be the use of buying it?

this is why we have difficulty within mining. if the hashrate goes up 100x then the difficulty will adjust to the hashrate, this ensures that only a set amount of coins are distributed per day. This also means that all the coins for the day wont be mined in say 10 minutes.

[Starscream]

You assume that miners are the ones that affect the price of the coin.. they don't. It's mostly outside investors that do.
When small miners can't mine a coin anymore they move on to a different coin, they don't go and buy it (thus increasing the buy force).
So small miners are pushed out, big miners take over, but the market will still get the same amount of coins added to it at any given time with the exception of halving - that, for instance, does drive the price up, but it's also not related to ASIC at all.

The fact that a coin is harder for YOU to mine it doesn't tell much about its price.

The supply of cryptocoins, any cryptocoin, is always constant with the exception of said halving. So only the demand can and will affects the price of the coin.

[Equate]

If you can get Scrypt Asic at some decent price then you can make ROI IN 4-5 months ,  but many asic manufacturers are releasing 300MH/s asics and that will greatly impact profitability unless LTC price rises again & its game over for GPUs as far as scrypt mining is concerned .

[damiano]

If you can get Scrypt Asic at some decent price then you can make ROI IN 4-5 months ,  but many asic manufacturers are releasing 300MH/s asics and that will greatly impact profitability unless LTC price rises again & its game over for GPUs as far as scrypt mining is concerned .

Who has the best pricing ?

So far gaw seems pretty competitive.