Cryptocoin Mining?

[f1sherman]

Well profitability is way down from the early days of Doge.
And Cat was nowhere to be seen on Coinwarz few hours ago. Besides I'm not mining CAT, NO F WAY!
I might bet/trade though

You guys following NEON saga?

 

[Torn Mind]

Coinwarz revenue projections are unreliable because it uses instantaneous price/difficulty ratios that change so much that no. 1 right now may be no. 20 hours later. This is especially true if market cap and difficulty numbers are low or if difficulty readjustment is high. A naive miner may think omg, let's mine an altcoin only to have difficulty shift way up or the blockchain fork or the price per altcoin fall by 90% by the time they stop mining it and want to cash out. The reverse is true too, you could get lucky. It's basically gambling.

True. Lottocoin's difficulty has been going up and down between 10 and 20. It seems that the auto-switching services pull out as the difficulty goes up too much, the network hashrate tanks, and then the difficulty goes down, and then they start mining lottocoin once again.

Also, the exchange rate they use is auto-selected. If one doesn't want to use Cryptsy, for example, one has to look at the exchange rate at other services.

A couple more of the consistent coins on Coinwarz seem to be Lottocoin and Tagcoin...

 

[f1sherman]

LOL I knew I wasn't crazy!

I've noticed that CAT is a DEAD coin due to huge diff re-target period.
I clearly remember seeing 64 diff and huge time before lower diff is possible. Then Silverforce links CAT on coinwarz all of a sudden. HOW COME??

Cheating pure and simple:

"We are going to get down the re-target every 2,016 blocks to just 36 to better handle any giant amount of hashing power entering to the network and then quitting. We are also going to set the difficulty back to 16 on block 20,290."

 

[IEC]

If I mined CAT I would raise the net hashrate by almost 3%. That's pathetic.

I really doubt that coin is going to survive long term.

 

[thilanliyan]

Well profitability is way down from the early days of Doge.
And Cat was nowhere to be seen on Coinwarz few hours ago. Besides I'm not mining CAT, NO F WAY!
I might bet/trade though

You guys following NEON saga?

Damn...another one...sorta like NXT I think.

What happened to NXT anyway?

 

[geokilla]

I'm mining ESM... Hopefully it becomes profitable in the long run. I don't really want to mine CAT and DOGE atm because they're pretty much worthless.

How do I close my account at a pool aside from e-mailing them?

 

[thilanliyan]

I'm mining ESM... Hopefully it becomes profitable in the long run. I don't really want to mine CAT and DOGE atm because they're pretty much worthless.

How do I close my account at a pool aside from e-mailing them?

Did you join the pool?

 

[geokilla]

So Coinium has grown too big for CAT it seems. People need to join other pools!

Did you join the pool?

I joined a lot of pools. Want to close some. But yes, I'm in the pool for ESM.

 

[slashbinslashbash]

Just mined my first fractional LTC and about 1000 Doge over the past day. Been meaning to get into mining for a long time. So far only running a 5770 in my Mac Pro on OSX, so a weak 66k rate (about 1/3 of what it should be). I'm going to get a 7790 running soon, and hopefully swap the 5770 into a Windows machine. I know it's not great hardware, but I already own it and electricity is fairly cheap, as well as needing to keep my office warm in this cold snap. It's really a fun/hobby thing at this point. I should start having access to free electricity (hotel room) for work in the coming weeks as well.

 

[f1sherman]

Damn...another one...sorta like NXT I think.

What happened to NXT anyway?

It's an ongoing saga. But the initial distribution makes it a tough sale.
Basically you buy hot rotten potato and run around persuading everyone those are really french fries. YMMV depending at which phase you've entered.

Bottom line, you can never compete against those who have massive amount of your goods, and they've bought it at infinitely smaller price than you have.

https://bitcointalk.org/index.php?topic=399837.0;all

I'm laughing my #$@ off. This Nigerian prince actually took 135 BTC
Check out the white paper D:


"Maybe I need to take a break now

"

Idd you do sir. Sweet dreams good prince, you deserved it :wub:

 

[taq8ojh]

What's up with all the talk about scrypt requiring TONS of memory (VRAM I assume). On my 5850 cgminer hardly uses over 450MB. I wouldn't call that ton by any means.

 

[Silverforce11]

What's up with all the talk about scrypt requiring TONS of memory (VRAM I assume). On my 5850 cgminer hardly uses over 450MB. I wouldn't call that ton by any means.

If you want higher hash then it uses more, essentially unavoidable due to 128kb per thread.

Edit: Heads up to fellow miners, RonPaulCoin is literally a goldmine for the past few days. Get in early while difficulty isn't crazy.

 

[KlokWyze]

If you want higher hash then it uses more, essentially unavoidable due to 128kb per thread.

Edit: Heads up to fellow miners, RonPaulCoin is literally a goldmine for the past few days. Get in early while difficulty isn't crazy.

Any good pools out there?

 

[thilanliyan]

^I just signed up for the netcodepool pool.

 

[geokilla]

Should have mined RPC sooner when it was released... Too late to jump in now. Only reason I didn't was because I didn't know who Ron Paul was.

Gonna continue mining ESM... But it doesn't seem to be very popular on Bitcointalk.

 

[suklee]

I finally got my BTC from slush's pool and want to re-invest some BTC (1-2) by buying some altcoins to hold medium - long term. Any suggestions? LTC, QRK, Earthcoin, Lottocoin, IXcoin?

 

[nwo]

I finally got my BTC from slush's pool and want to re-invest some BTC (1-2) by buying some altcoins to hold medium - long term. Any suggestions? LTC, QRK, Earthcoin, Lottocoin, IXcoin?

LTC is the next BTC, so if you ask me, that's the best route to take.

 

[UNhooked]

So let me ask this.

Why would one want to create/sell Atl coins?

I can see why Bitcoin and Litecoin would make sense. But why in the world would one want to buy Doge, CAT etc.

Don't get me wrong I am all happy for them. There is no way I would make a decent Litecoin by mining it directly but just curious why would people buy alt coins to begin with?

Also sad that Doge is dead. Sitting on a decent pile and I am going to have to sell at a loss.

 

[geokilla]

So let me ask this.

Why would one want to create/sell Atl coins?

I can see why Bitcoin and Litecoin would make sense. But why in the world would one want to buy Doge, CAT etc.

Don't get me wrong I am all happy for them. There is no way I would make a decent Litecoin by mining it directly but just curious why would people buy alt coins to begin with?

Also sad that Doge is dead. Sitting on a decent pile and I am going to have to sell at a loss.

Because there's a way to create alternative cryptocurriencies for free now. https://bitcointalk.org/index.php?topic=396751.0

What the hell happened to DOGE?

 

[taltamir]

Doge is a joke coin. I meant hat literally, its a joke where they use dog pictures to make a currency
Other coins have actual reasoning. Typically due to ethical differences.

Bitcoin is ancap in principle, communists and others have made their own altcoins which have different features. Built in 1%/year inflation or 3%, or 5%, automatic "taxes on the rich" (naively assuming the rich don't just use automated software to distribute their money in many wallets to completely circumvent this; or that a rich person would ever support their coin), etc.

Some claim to fix bugs or improve the protocol, the established bitcoin players are too invested to support a hard fork for upgrading the tech and fixing bugs and the like.

Some try to improve anonymity

Then others are simple premined schemes. The author creates another bitcoin clone, premines 5% of the coins (as the only miner it goes quick), and then releasaes it. Once it gains some value they sell off all their coins and move on with the sucker's money.

I have seen one where all coins have been premined, and mining doesn't exist at all.

And even coin where there is 0 premining. Claiming that bitcoin itself is a pyramid scheme due to premining (satoshi, the inventor of bitcoin, premined 1 million coins out of the 27 million that will ever be created before releasing the software, at current value of 1000$/BTC it makes him a billionere. If it becomes legal tender then has has 1/27th of all the money of everyone... and bitcoin is inherently deflationary meaning it gets more valuable as you sit on it instead of less).

So, lots and lots of reasons for altcoins

 

[gbeirn]

What's up with all the talk about scrypt requiring TONS of memory (VRAM I assume). On my 5850 cgminer hardly uses over 450MB. I wouldn't call that ton by any means.

Well it's tons compared to SHA-256 mining like bitcoin. Meaning FPGA and ASIC miners would need to have some local memory hopefully increasing their cost and making them not profitable to design to mine

 

[geokilla]

http://www.hardwarecanucks.com/forum/newreply.php?do=newreply&p=751211

It looks like Alpha Tech is taking orders again.

Viper (Scrypt) Miner (5Mh/s) Cost maybe $2,500 CAD after all said & done.

Power consumption: <= 100w
Contains one Viper board
Enclosure : 1u Rack mountable
Self contained unit with Ethernet and USB connection
Software: Easy to use configurable WebGui for mining connectivity.
Front Panel: LCD display for easy mining configuration.

Also the Viper (Scrypt) Miner (25Mh/s) for maybe $10,000 CAD all said & done.

Power consumption: <= 600w
Contains five stacked Viper boards hashing at 5 Mh/s each or higher
Enclosure : 6u Rack mountable
Self contained unit with Ethernet and USB connection.
Software: Easy to use configurable WebGui for mining connectivity.
Front Panel: LCD display for easy mining configuration.

Ouch..

 

[blastingcap]

The electrical power savings may make it worthwhile to use Scrypt ASICs. Think 1680 kH/s for 90 watts in a first-generation model.

There are several companies producing the chips that will go into these miners, so over time the asking price will go down due to competition.

 

[UNhooked]

Wrong quote

Was talking about the viper scrypt

Yeah saw that. It's a pre-order. If they had an actual working product it might make sense.

 

[KlokWyze]

http://www.hardwarecanucks.com/forum/newreply.php?do=newreply&p=751211



Ouch..

What does the post say? Don't feel like creating an account....

I'm interested in these though. Thinking about picking up the 5m/h 1U unit, but it would probably be better to just wait for BTC/LTC to dip again and just buy a bunch of coins straight up.

I'm mining doge again right now lol... difficulty is way down and it's still worth a little. WMLTC has been f!*&ing up. Middlecoin is still broken. Think I may randomly try a wierd coin like BBQ or Galaxy for a couple days to just see the results.