Hello Logan, Wendell, Pistol, and Qain.
I've taken an interest in mining scrypt based currencies, so I've ordered a GPU for mining. But as I checked the theoretical income on a rig I was planning to build, I've noticed that the profits have plunged! Is this because of natural causes like more miners or something different?
It's the nature of the beast; It's a gamble. I, personally, won't be investing in cryptocurrency until the value stabilizes.
My thoughts on mining which I am sure are fairly common
If you are buying hardware to play games on or you already have it, then by all means mine on it during your downtime to try to offset costs. However if you are buying hardware just for mining, chances are it will take quite awhile to reach return on investment if ever so it really will not be worth it. Plus the value could go to zero tomorrow if the world decides cryptos are lame so you could lose everything.
I have been mining for a few months now and trade on btc-e in small increments (1-3 ltc at a time). The market is so speculative now that you could go to bed with it being 30 usd per ltc and wake up and it is 12 so you're income will change from day to day. However if you can sell high and buy back low you can make some extra coins that way. Like the others said I would not invest in it but if you already have the equipment, why not. You never know what it will be worth in a few years.
Fucking good, I want an AMD card in the affordable range that it was suppose to be in the first place.
^ THIS!