I'd look into flipping another coin if you have the hardware that's paid for itself.
I agree with you there.
I bought like $2K worth of hardware to mine and only to mine. ROI is like 2.5-5 months at current rates, which isn't likely to hold.
My thing is that I was mining BTC with a 6870 and nothing else in 2013. I had 1.7 BTC over months (dormitory electricity bb). I sold it for like $400 when it dropped from $800 per BTC. I deeply regret that and I won't be making that mistake again.
I view crypto the same way I view my stocks. The price right now means dick all beyond an indicator of how long I'll have to wait to make money selling. The only price that ever really matters is when I sell. If I intend to wait years, right now really doesn't matter.
This. This is how you do it.
Do you think the real winners are the people that started mining 3 months ago when Eth started it's climb, or do you think it was the people 2 years ago when Eth just started?
Obviously 2 years ago. Those people are rich af right now. The real way to win is to mine when no one else is. When it isn't profitable. When you can't be sure it isn't a waste of time. Then just cast a wide net. Compile a list of currencies that are new and fresh and just mine each one until you have a decent amount, then move on to the next. It only takes one hitting $100+ to make it all worth it.
Like playing Roulette and putting chips on everything, except the ratio of profit:investment is high enough to make that reasonable and entirely worthwhile.
rubs hands together
Good. Good. Let the GPUs flow. >: D
The real way to win is to buy hardware explicitly for mining when that happens.
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Mining isn't abusive despite 'folk knowledge' on the matter.
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Well bitcpin protocol is forkimg set for aug 1st.
So id expect this madness to at least BEGIN to stabilize after that,
Im buying digibyte and doge and siacoin
Little sub 0.01c usd coins.
Smaller value higher quantity
Means itll be affected by the flux more
so Waiting for aug 1st.
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What about. Gaymoney?
Or vaginacoin
hmm ... tempted to do that as well.
Does Poloniex need a real name etc? I generally don't like giving my details to US-based companies.
EDIT : by the way, didn't you throw some money at Nicehash recently? How did that work out?
the deeper you verrify your acct for larger withdraw limits the more info you will need to give
sidenote: what i WAS making on my gaming rig unit
vs now
back a FEW months ago when i first started,
EACH CARD was ripping like 7 bux a day
with my 7GH thad be like $150 a day -21 for power $129 a day
i was mining lbry at a average rate of like 7 gigahash off 20-21 gtx 1080s
costing my about 21 usd a day (last week when i was trying nicehash)
making like 100-ish a day (80 profits)
i paid up nicehash like 0.01 btc for a minimum order of 0.01Th on lbry (10gigahash) and i tried to set the price as close as i could to get 24 hours at that speed
which in theory would have made me back that 100 bux (plus not using my own power)
to really test its viability i SHOULD have set that nicehash target to a second acct, by itself and compared its earnings for that day to my personal poools,.
but i just addded it to my own, making it pretty hard to see a difinitive proof or stake
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went from 127 last nite to 160 during the nite to 154 about now ish
i think everything is going to stay on the freefall downward till at least aug 1st
think about that, if doge ever hits a PENNY
thats 250 bux profit at that vollume
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Ayyyy I have like 70000 doge
look at the LEAP digibyte had a month ago
0.002 usd up to 0.062 usd
SOMEONE is filthy fucking rich because of that
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after getting intrigued by this thread I actually wen to look at some of the newest Coins out there and man are some of them the sketchiest things ever like AMMO coins or Jet coins both seem like horrible businesses for different reasons.
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Any suggestions on what coin to mine? I'm just starting off with a single 1080. Just thought it would be fun to start off and learn the process.
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If you are doing it for the fun factor, you could try NiceHash, which is always easy to set up, or you could give Etherum a try. Since it is so popular right now, there are a lot of guides you can read to get started 
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I've not read this whole thread, but I'm sure the lessons of any mining/commodity or business boom (which you should've learned in history class) apply to cryptocurrencies too:
- The only way to win as a miner/business is to get in early
or - The real winners are the businesses that follow the miners
@Goblin knew about #1.
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If you're doing it for fun and to get your feet wet nicehash is a good system that automatically switches you between like 8 different algorithms and pays you whichever one is the most valuable for you and your Hardware at a time if you're on a GTX 1080 most of the time lbry is the most valuable thing in my opinion
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Always nice to find coins that have gone up 3000% that you forgot about in your local wallets.
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Story of the mining life for the winners.
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Thanks for the suggestions @Azulath @KuramaKitsune NiceHash seems like a good place to start.
This guide was pretty helpful in getting it all set up.