Comment Re:What a dumb waste of energy... (Score 1) 94
Bitcoin mining is for suckers...
In this we agree. Cryptocoin mining, no matter which coin you mine, is not profitable for anyone except really large players. Coin difficulties increase with overall network hashing rates, so any hashing power you have is effectively reduced every time the difficulty rises. This is something that people don't take into consideration when they go and buy those big ASIC rigs for $10,000 thinking that they're reach break even in a month. Honestly, if the machines were that profitable then the companies making them would just keep them and mine on their own, as it would be more profitable than just selling the hardware.
If anyone reading this is planning on getting into mining, thoroughly research the subject and make sure you correctly calculate projections.