Shut down my GPU rig also, any algo that is worth mining right now?
I'm seeing nothing. Trying to keep my head above water with leasing, but even that looks dead, practically no one is leasing GPU's the last few days. Anyone paying more than $0.05/kwhr is losing money on X11/X13/X15 etc.
I think there is a mix of factors right now:
1. General fatique towards altcoins caused by the clonecoin/scamcoin flood. Even the better asset-coin and anonymity coins and so forth are languishing. Low prices equals lousy profits from mining.
2. Increased use of POS rather than POW limiting the opportunities to mine. For example I tried switching from X11 to X13 and X15, only to find most coins listed as X13 and X15 seem to have had terribly short POW mining periods and then went to POS. There's hardly anything left on those algorithms, certainly no "Flagship" coins like LTC for Scrypt and Darkcoin was for X11.
3. Mining botnets - hard to guess how many are out there and how large, but I'm sure they are a factor. Virtually no cost for the thief/hacker running them, so in the worst case crypto mining will end with all legit miners gone and only botnets competing with one another!
4. Miners who don't pay for their electricity - I've heard some people pay a flat monthly rate for their residence, or people using computers at work/school for mining, or more likely you've got teenagers running their gaming PC upstairs while mom and dad can't figure out what made their electrical bills jump. Junior is hoping they won't notice or is too naive to understand they're just cutting their own inheritance. ;-)
5. People mining in the hopes things will turn around soon and the coins they mine today will be worth enough tomorrow to make a profit. The problem with this logic is that it's simply more sensible to shut off your miners at this point and use the fiat $ you save to buy MORE of the coins you are mining than you can mine with your GPU, at current rates.
6. People who aren't paying attention. No idea how many are in this category, but I think some mining rigs are almost on autopilot, with people barely paying attention to them. When they wake up they'll shut their rigs off, but apparently are slow to do so. (I'd be inclined to doubt any significant number of miners are out to lunch like this, but there is proof to the contrary: the absurd numbers and hashrates of miners who keep mining at mining pools that have tanked to horrible profitability compared to easily available alternatives. Anyone familiar with Middlecoin knows what I'm talking about.)
I've told myself that if a week goes by without running a profit, it's time to shut my rig down. So far I've been able to squeak out profits with every trick I can think of, but I pay a little over $0.12/kwhr so it's hard to imagine holding out til winter. On the flip side, propane prices spiked horribly in my area last winter, so I definitely plan to hold on to my rig and run it as a space heater as autumn cools down. So I don't expect to be fully out of the game until ~March 2015, despite how grim things look. I'll kick myself if my 290X GPU's depreciate significantly over that time, though.