My rough calculations came out with Monero mining being 3x more profitable than other algos too, so why arent we being flooded with new miners (not that we really want to be)? I can understand that the big GPU farmers running Linux are unlikely to change but there must be a lot of smaller miners out there. Personally I dont think the complexity of Cryptonote is a barrier to entry now, there is enough info available that anyone who can work out an sgminer config should be able to get mining
Having said that I keep threatening to produce an idiot's guide to mining XMR, but then Zone117x releases another pool code update that I have to then integrate with my pool code so its forever postponed.
More than likely I think its just that Monero is still a bit of a secret, you don't see CryptNote profitability showing up on any of the usual comparison sites etc. How did you find out about it? I started off with Bytecoin because profitable CPU mining caught my eye, I have a lot more CPUs than GPUs available to mine with unlike most people.
Wait and see what happens if CryptoNote gets added to NiceHash and their auto algo switching miner.
In my opinion, the reason we don't see as much about XMR, XPM, or other interesting currencies is that people are jaded right now at the obvious affect of mass mining coins and instantaneous conversion to BTC. That affect of course being rapid diminishment of once profitable coins resulting in an emotional hangover.
What needs to happen is more apps that enable usage of the coins we mine. The miners here do their part to expand the ledger account and further develop coin networks but so often the end result has been instantaneous conversion to BTC. Now, if we have an app that is an all-in-one wallet for all the coins we mine I think people would hold on to other coins longer and exchange them possible even for things other than BTC. This app got me thinking about it even though this app is far from what is actually needed:
https://play.google.com/store/apps/details?id=com.pocketcrypto.pocketcryptoBut, it's a hint at what's to come. take the idea of adding your coins into a centrally managed host such as an app and it's easy to see how this must happen for crypto currency to advance and take it's rightful place as a means for currency.
I wouldn't be surprised to see a resurgence in coins that many folks now see as dead.