Quote from: vm_mpn on March 09, 2014, 06:36:12 PM

Quote from: cuesta on March 09, 2014, 06:24:28 PM

So, let's take a step back...

If you add up the hash rate of middlecoin, wafflepool and clevermining, that's about 60 Gh/s give or take the odd 5. There's other coin switching pools with or without direct BTC conversion and I'm sure some of them are significant, but hey-ho, you get my drift.

On the other hand, we have litecoin and dogecoin which might be around the 200 Gh/s mark. *Crucially*, everything else feathercoin, worldcoin et. al are down at the 5Gh/s or so level.

So, here we all are. Moaning about the BTC/Mh/Day. Haven't we caused the problem. Collectively?

The profits are down because several of coin switching algorithms are all doing similar things (see poolpicker for FACTUAL evidence), the OPs can't create profit because the profit isn't there. The profit isn't there because (a) the pools are too big to hit the small coins and therefore (b) there's a requirement to convert whatever there is to BTC - and that requires someone to actually want piles of crapcoins nobody wants. Am I missing something here ?

I can imagine that people with 100's of BTC from the early days want to diversify, which drove things for a while. but there has to be a limit doesn't there ??

It is noticeable that H20 has been carrying 200 BTC of uselessness for ages on middlecoin - so even his back door trades have dried up. We are lucky, we have an organised and transparent OP, but the guy can't create money out of nothing. If there is no demand not much we can do...

Or...Is it all down to thousands of gridseeds coming online ? The litecoin hashrate keeps going up and I can't believe it's all down to AMD selling loads of 290s..

So what do you think ? Is the current profitablity just a blip, or have the big coin switching pools simply forced us to accept what we all know. CrapCoins are crap Huh

You just wrote what has been on my mind for month... We are probably enjoying last days of sustainable multi pool profits. Curios to see how market re-shapes in the next few month.

The reason the hash rate from LTC has jumped so quickly is not ASICs but rather the redirection of miners from other coins that are no longer perceived as profitable as mining LTC directly. With the sudden increase in difficulty miners will likely point their rigs back to other "crap coins" and things will balance out in the short term. The profits from this pool will be the higher today than in the last 4 or 5 days. Make no mistake, this is due to the rising LTC difficulty.