Cryptocoin Mining?

[UNhooked]

So why has it suddenly become less profitable to GPU mine? ASICS? BTC Value? Used to avg about 0.01 BTC/Mh but now it's half that.

 

[KingFatty]

Yeah if it were just the BTC value going down, you'd think then you'd get *more* BTC/Mh/s because you could buy more BTC since it's value went down.

I guess it's because something about the alt coins decreasing in value even more than BTC has decreased, so you make even less BTC overall? But then again, the BTC/LTC ratio seems to have gotten better, so I dunno.

I can see that the impact of the IRS calling crypto currencies a type of property to be taxed can have an uncertainty effect and spook the market temporarily. But will the price go back up? Having to track everything for taxes is a major bummer. That has a definite negative effect.

But what would be any positive future factors that could make the price of Bitcoin rise again? I'm just wondering what changes are coming up, is there anything on the horizon that might happen soon?

 

[reb0rn]

I like HVC coin, so far its GPU coin, a LOT speed on NV (I think NV even has some edge over AMD but its all due optimization) and ATI... low power usage, 50% less then scrypt, GPU miner is being developed....

Darkcoin is also not bad, but HVC is cheaper atm, and its keeper for now!

 

[IEC]

So why has it suddenly become less profitable to GPU mine? ASICS? BTC Value? Used to avg about 0.01 BTC/Mh but now it's half that.

1. Crapcoins and scams. Everyone is searching for the next BTC but there are like 100 different crapcoins out there and people with BTC are now much less willing to risk "investing" in the next scrypt or scrypt-n or X11 clone because they're all the same with a few variables changed.
2. Because all the casual miners and profit seekers hopped in and flooded the market with inflationary pressure, causing coin values to plummet. Add in the growth of multi-coin pools which further depressed prices and "altcoins" have been pretty much beaten to death.
3. Then the price of BTC tanked, and caused a lot of psychological damage in the market.

With today's prices, it's not worth mining for a lot of people. See the recent flood of reference 290s on eBay and other sites. Some selling for as low as $310. Expect major volatility going forward. Whether it goes up or down long term is anybody's guess at this point.

I'm long BTC/LTC/DOGE/NXT/PTS. I would add VTC to that list but I don't think its marketing is good enough, nor scrypt-n ASIC resistant enough to make a difference.

 

[taltamir]

Why would they? Bitcoin has done just fine without changing its algorithm.

Bitcoin is the original. LTC sole value is that it was the first asic resistant alternative to bitcoin. Now LTC has ASICs. what does LTC have to offer now?

 

[IEC]

Bitcoin is the original. LTC sole value is that it was the first asic resistant alternative to bitcoin. Now LTC has ASICs. what does LTC have to offer now?

Established value.
Established dev team.
Predictability.
Direct exchange to CNY or USD or EUR (and maybe a few others).
Large hash rate, soon to be mega hash rate with ASICs.

 

[KlokWyze]

Established value.
Established dev team.
Predictability.
Direct exchange to CNY or USD or EUR (and maybe a few others).
Large hash rate, soon to be mega hash rate with ASICs.

Established infrastructure. They are the #2 regardless of what coinmarketcap says.

Wow BTC is freaking plummeting. Should I be buying in...... hmmmmm

It will reach a bottom and go up steady. The question is when.

 

[Dr. Zaus]

Established infrastructure. They are the #2 regardless of what coinmarketcap says.

Wow BTC is freaking plummeting. Should I be buying in...... hmmmmm

It will reach a bottom and go up steady. The question is when.

$298 is the bottom. if past crashes are similar to this one.

 

[UNhooked]

Hmm I am currently mining Myr. 5 algos must mean something lol. Also while my profits are cut in half. I am still making something not just what I was making earlier.

 

[SunnyD]

Bitcoin is the original. LTC sole value is that it was the first asic resistant alternative to bitcoin. Now LTC has ASICs. what does LTC have to offer now?

Established value.
Established dev team.
Predictability.
Direct exchange to CNY or USD or EUR (and maybe a few others).
Large hash rate, soon to be mega hash rate with ASICs.

And most importantly, it's not a fly-by-night bullcrap scam get rich quick coin developed yesterday by a coin generator taking advantage of scheme of the day.

Sorry - I apologize, again as I said a while back, I'm only checking in on this thread every so often. Trying to get back to a bit of normalcy with some other projects I'm working on, but also trying to keep up with some of the discussions that interest me too.

 

[Attic]

Trollbox at BTC-e is bloody. I'm used to big swings, but this massive drop to 420 area was out of my comfy zone.

The thing scraps and claws to gain a bit of value and it's getting crushed in waves. Downtrend looks pretty clear and severe to me.

 

[KingFatty]

Any ideas where the big downward clumps are from, like a big holder selling a big order all at once?

 

[IEC]

http://www.coindesk.com/btc38-suspends-trading-cites-china-central-bank-guidance/

 

[T_Yamamoto]

Any ideas where the big downward clumps are from, like a big holder selling a big order all at once?

Apparently FBI is selling their hold of BTC seized from Silk Road.

 

[IEC]

Apparently FBI is selling their hold of BTC seized from Silk Road.

No. They would be auctioned off, not sold directly on exchanges.

 

[Attic]

I feel like i'm witnessing a mugging watching LTC.


Come on, who would have guessed $10 in April with difficulty nipping at 6000?, besides blastingcap??? ; )

 

[pandemonium]

I believe the bottom of the curve just hit and we're seeing a powerful climb again. I hope others were able to take advantage of the slump.

 

[frowertr]

I believe the bottom of the curve just hit and we're seeing a powerful climb again. I hope others were able to take advantage of the slump.

What would you believe that? Seriously, where is the good news in the crypto industry? New IRS rules suck for Americans, all prices are heavily depressed, Mt. Gox steals millions, Russia/China are against BTC, multiple exchanges are going insolvent, diff is sky rocketing, ASICs are here and with Titans right around the corner that will further push diff higher, etc...

I mean, why would anyone with a sane and sensible business mind, get into this industry with all the bad news that happens to crypto on a daily basis?

If anything, Doge coin seems to be the only community that knows what they are doing. Say what you will about the ridiculous of that community, they at least know how to raise money for marketing. They raised $55k for a NASCAR sponsorship for the Talladega race for gods sakes! If you want to get widespread acceptance for crypto, getting the "common people" and "non-tech people" involved is where it's at. Can you imagine what NASCAR fans will say when they see a giant picture of a dumb looking dog on the hood of a car? They are going to want to know what that is about.

 

[Zargon]

Apparently FBI is selling their hold of BTC seized from Silk Road.

No. They would be auctioned off, not sold directly on exchanges.

and he would have to have been convicted, I don't they cant auction off assets of someone who is still on trial

 

[Zargon]

Im extremely tempted to shut down my block eruptors

are there any useful cryptos to mine with them, or should I just CL them and see if some idiot bites, like the people buying them for 27 bucks off amazon still

 

[rtsurfer]

Guys any place where I can buy USD to LTC.??

Somewhere that is not fraud.

 

[Subyman]

Guys any place where I can buy USD to LTC.??

Somewhere that is not fraud.

BTC-e has been fine for a long time.

 

[T_Yamamoto]

Im extremely tempted to shut down my block eruptors

are there any useful cryptos to mine with them, or should I just CL them and see if some idiot bites, like the people buying them for 27 bucks off amazon still

I'll buy one for 10k doge.

 

[njdevilsfan87]

I've now updated my BlackCoin pool with an EU node for those 8+ hours ahead of me that may be interested.

http://cryptoalts.com/

I'll be mining for another two months. After that my electricity prices go up 25% for the summer, and then I may be trading bottom dollar GPUs for bottom dollar crypto.

 

[Mark R]

Anyone here ordered a knc titan?

This looks much more promising that the alpha t viper.