Quote from: comeonalready on August 26, 2014, 11:49:31 AM

Quote from: carloss on August 26, 2014, 09:09:17 AM

Btw I don't get why everybody is crying here because of low hashing power prices...these prices are directly linked to coin mining profitability. And check the coin profitability charts now. THIS is the reason of crappy prices. The sinking altcoin market full of scams and pump'n'dump projects.

I am a miner and I had to shutdown 14 AMD cards last month because of this. But I don't blame NH.

Litecoin mining profitability is atm 0.38409727 BTC / GH / day, Nicehash is currently paying 0.3922 BTC/GH/Day for scrypt to its miners. Highest running order is 0.42. Why would anyone pay more than that and lose money?

Also miners are not forced to mine on NH, they can setup the minimum price a mine elsewhere in times where they are not satisfied with current price. This is self-regulating environment.

Also arbitrage bots can drive the price higher in case the average price on NH drops considerably below coin mining profitability. But this is not the case here.

I think prices on nicehash are completely realistic and in order with current shitcoin market situation.

People are yelling, screaming, crying, and whining because either they feel entitled to something that they are not, or they employed flawed ROI calculations when originally making their decisions to purchase mining hardware -- most likely by assuming a fixed fiat value of daily earning potential at acquisition and erroneously applying it as a constant in their break even and profitability calculations (or failing to account for the possibility of its rapid decline). And rather than blame themselves for being in trouble on their investments, they want someone else --anyone else, to blame for their poor current situation. If westhash never came into existence, they would be blaming some other demon right now. [It has been mildly amusing though, so by all means please keep it up.]

I more or less got screwed-ish because Vertcoin dropped in value by 83%. It wasn't a flawed calculation. Then again, I'm not complaining about NH/WH rates either...