I thought this was going to be the troll post of the year, but I think this is accurate. I wouldn't say its too easy, but its very accessible (by design), and with the various economies in the world, making money is all relative. If you live in a hellhole like Venezuela and can mine with free electricity for 50 cents a day, you are making 3x more than the average person, plus your earnings are in crypto which isn't devaluaing 500% a day. I don't want to be a naysayer but I think the altmining for the most part will never come close to what it used to be. In the end, everyone got rich off mining the shitcoins. You never saw anyone posting about how much money they were making mining monero, dash, or decred. Eth might have been the only outlier as it was the one mainstream coin you could do well with, if you were able to buy a bunch of low cost amd cards.
Miners now act like corporate shareholders. They don't care what the coin does, or how it does it, as long as the price goes up. You will rarely see criticisms of decisions affecting the coin beyond people complaining about POS or an algo that is ASIC friendly. This is the altcoin subforum but in reality its the gpu subforum
Well the problems with altcoins are as follows:
They need to be gpu friendly.
They need to be cpu friendly.
Asics make them pretty much not needed.
The developers promised asic resistance and then sold out for the most part.
Now all would have been fine if they were not sold or pitched to be asic resistent. But they were and the did well until asics crushed them.
Many developers simply gave up and let it happen.
So a guy like me will never have 200 Rtx 3080ti's when they come out simply because I don't trust developers.
list shows 2267 coins
https://coinmarketcap.com/all/views/all/
1 Bitcoin BTC $184,393,028,275 $10,348.19 17,818,862 $24,768,186,737 0.16% -3.75% -11.96%
2 Ethereum ETH $24,329,142,295 $227.57 106,908,177 $10,217,520,154 0.34% -6.46% -26.00%
3 XRP XRP $13,362,575,976 $0.313922 42,566,596,173 * $1,674,048,141 0.09% -1.13% -20.99%
4 Litecoin LTC $5,568,207,303 $88.84 62,675,762 $3,932,027,627 0.35% -5.27% -25.95%
5 Bitcoin Cash
...
2260 Pandemia PNDM $? $0.000008 ? $? 0.00% 0.00% 0.00%
2261 Delizia DELIZ $? $0.000167 ? * $? 0.00% 0.00% 0.00%
2262 APOT APOT $? $0.013596 ? * $? 0.00% 0.00% -21.90%
2263 Bgogo Token BGG $? $0.002161 ? * $? 0.00% 0.00% 0.00%
2264 Solareum SLRM $? $5.16 ? * $? 0.00% 0.00% 0.00%
2265 pEOS PEOS $? $0.066584 ? * $? 0.00% 0.00% 0.00%
2266 Stellar Gold XLMG $? $0.008425 ? * $? 0.00% 0.00% 0.00%
2267 Gratz GRAT $? $? ? * $? ? ? ?
← Back to Top 100
* Not Mineable
coins ranked as low as 2260 can be mined. but what is the value of most of the coins? from 811 pink coin down to 2267 value drops from 998,756 to 34 dollars for coin 1867 Shade Token anyone from 1868 to 2267 is worth zero.
worst part is they piggy back mining algos which is a certain way to cause 51% attacks.
So yep they wont work like they did in 2017.
We will get consolidated coins and I know you are pro asic for these coins and I am not pro asic. But you are right since only one developer changes algo's fast enough to hurt asics I see no good future for alt coins.
POS = a bank or a bond and has no real backing. other then facebook's coin where if it crashed you may be able to sue facebook (good luck)