Topic: Scrypt Mining Profitability Drastically Decreasing? (Read 1885 times)

interesting

Yeah scrypt mining is dying for a number of reasons. And if you're like me and invested in equipment a few months ago when GPUs were all at a premium cost you're scambling to get out of mining as fast as you can. I paid about 100USD per GPU more than what they can be bought for now. I figured at the time I could at sell the miners if the mining ROI got too low. However what I didn't anticipate was how fast the mining equipment market turned from a seller's to buyer's market all while mining was becoming exponentially less profitable. Doing a bit of price analysis on ebay shows that the average mining rig is selling for about half what it was in mid Feb (2014). I've dumped all my rigs except one five card rig and I'm still running in the black and the ROI on mining itself is like 1000+ days. If I'm lucky I'll be able to make back about half of what I invested. At this point mining is dumb and waste of money. The only real value in it is for the educational value. I know about 1000x more about computer hardware than when I started so that's one good thing; otherwise it's just been heartache and disappointment. Right now is a great time to buy in because prices are low BUT that's if you're willing to hold on for a while... AND if you're not in the US being we just got it with crappy tax regulations on this stuff. All in all cryptos will end up like everything else, only profitable for a privileged few that ultimate control the markets. Makes me sad because I believed all the hype and thought maybe this really would change some for the better in the world! Haha I'm just another SUCKER I guess.

Scrypt mining is a bigger gamble. If you can get the right alt quickly you can get immense profits. But if you just put it on a mulltipool, it will be difficult to get ROI for a GPU.

+1

long term-ers usually benefit the most

I would say mine and hold. BTC has to rise eventually. Maybe we could see another spike similar to last year when it went from $100 to a $1000.

Bitcoin price is going low and low. So all other altcoins are pricing very less now. If bitcoin price rises we can see more profit.

Actually those guys themselves agreed that they are a scam. I saw it somewhere in the forum, when searching for scrypt asics

http://dexceldesigns.co.uk/ is a scam - do not buy. I have has this confirmed from Alpha-t and Dexceldesigns.com

I think its worse than that - this site looks like bullshit. I would get confirmation from alpha-T before buying anything from this site.

looks like your last 10 posts are only about spamming every sub-forum with vaporware posts.

with copanys like this http://dexceldesigns.co.uk/ all SCRYPT coins are gonna change really fast

Thats what I was thinking too. Maybe we should just hold some LTC and Doge and see where we end up in a few months maybe.

You have to adapt. Plan that someday the coin your mining is going to be worth something. When that day comes your in position to sell. Here is the funny part. The guy buying is seeing that the coin will be worth more in the long run. My current attitude is mine and hold. The scrypt asics are on the way! If they work the difficultly will skyrocket. When that happens it's far better to be holding.

It's also because scrypt asic are starting to crop up. Hopefully it's updated to make them useless, it'd put people of buying future batches.

not really.
even in january I was making about 6-7 bucks a day and btc prices were like 800-850
Right now they are 650-680 which is not that much less(only about 16%) or so but profitability become less than half of what it was.

its because BTC prices have drastically decreased. and the alts are traded for btc

When I first started mining with 500khash 2 months ago I would easily make about $6 a day.
but now even though the difficulty hasn't increased much I'm only making like 3 bucks a day with 700khash

2 months ago you could build a decent new rig and get a return on investment in just 2 months. Now it takes close to 4 months to get ROI.
So is this happening because of new miners playing the game or some other reason?
Also Doge is soo devalued. It should be 250 sat at least but its hovering at 150.

Are people with a few hundred asics affecting this or does some other reason exist?