Topic: GPU mining= profitability going down the drain. - page 3. (Read 10291 times)

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.

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.  

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

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. 

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.

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.

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.

+1 to this.  BTC under $100 per was no fun.  Still made profit though.

Mined straight through it like a boss.

Goldcoin .. really?

Vertcoin.org

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

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

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

Can I mine it with my gpu rig?

What are you on solar power or something? Its barely break even FFS.

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.

lol at mining litecoin, litecoin is doomed, like every other pure scrypt, asic will centralize them as they did with bitcoin

i say mine vertcoin

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

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

Thinking about it, why would someone buy an altcoin as there is not much that can be done with it. Everyone just converts back to BTC. There is no future earnings potential and you cannot buy something with it. The problem is that there are too many coins out there, with each one following the same pattern from rise to demise. What is needed is a market with only a few coins that are actually accepted as payment. Asics sold out on the basic principle of distributed processing by ruining both Bitcoin and soon Litecoin for the man on the street. Any Scrypt coin is doomed imo. The future for the man on the street is Asic resistant algos like scrypt-n, but then there must be some kind of motivator for people to buy it. It seems like the markets are just full of bag holding miners that want to sell. We need buyers for the coins and who will buy coins if they cannot do anything with them? The buyers out there I think is getting tired of ending up with bags of worthless coins. A lot of the new coins have weak markets because buyers dont want to burn their fingers over and over. The GPUcoin that has just launched is a atep in the right direction by providing some kind of value if it does end up being accepted for GPU purchases, but that is not enough as we need something more than that that is accepted as payment for stuff, not just being traded for other coins. If BTC can be an indicator, perhaps we should learn from it and replace Litecoin with an Asic resistant coin as the BTC alternative produced by the man on the street, not by a few powerful companies. That is of course if we want to keep processing distributed and in the hands of the man on the street.

If we dont keep processing decentralised, we can just as well usea central model where digital money is produced centrally.

Why not.
Get on it someone.