Cryptocoin Mining?

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rtsurfer

Senior member
Oct 14, 2013
733
15
76
Anyway, on a more serious note. The biggest roadblock I can see to adoption is how long it takes for a transaction to go through. Unless I'm missing something, it appears to take several minutes at best before a transaction is preliminary confirmed, and quite a bit longer to be absolutely 100% certain. That makes it pretty much unsuitable for any serious B&M retail use.

Is there any way around that? Any cryptocurrencies with a faster transaction, and what do they gain/lose by that?

This is just my assumption, but

I believe the amount of time it takes for a transaction to be conformed depends on the Network Hash of that coin.

Simply put, a Bitcoin transaction should be conformed fastest out of all alt-coins as it has the highest network hash, while something new like Zeit coins should be the slowest because not a lot of people mining it.

Again, this is just my assumption, could be completely wrong.

Someone with superior knowledge should chime in.
 

nwo

Platinum Member
Jun 21, 2005
2,308
0
71
I'm having trouble getting my KDC wallet to sync. Would anyone mind dropping me a copy of their peers.dat file? Or a list of nodes?

I could e-mail you my peers.dat file if you still need it. I don't know how to get a list of nodes since I do not use a config file for my KDC wallet.
 

rtsurfer

Senior member
Oct 14, 2013
733
15
76
I am suprised people are still going after KDC eventhough the fork is done.

Is it profitable any more ..??
 

KingFatty

Diamond Member
Dec 29, 2010
3,034
1
81
One trend I've noticed, is that the price of Bitcoin seems to be affected by the news cycle. So if there are stories about China banning bitcoin, or Bitcoin being broken (regardless if they are misinformed and misleading articles written by people who don't really understand it), those stories affect the price. I think since we've just experienced a week of negative news stories, that has pushed the price down. Seems to be consistent, and I bet you could map out the news coverage in the past and overlay that on the price swings and they would probably align somewhat. The question is whether this Monday will bring another negative news cycle for BTC, or will the stories dry up because it's no longer a fresh subject matter to cover (for the short term).
 

ultimatebob

Lifer
Jul 1, 2001
25,134
2,450
126
It looks like tigerdirect and overstock both use coinbase for their bitcoin transactions. Being an exchange a person has to have their bitcoins already in their account to use....Think it's instant going from one account to another on coinbase.

Tigerdirect was using Bitpay when they first launched.
 

KlokWyze

Diamond Member
Sep 7, 2006
4,451
9
81
www.dogsonacid.com
One trend I've noticed, is that the price of Bitcoin seems to be affected by the news cycle. So if there are stories about China banning bitcoin, or Bitcoin being broken (regardless if they are misinformed and misleading articles written by people who don't really understand it), those stories affect the price. I think since we've just experienced a week of negative news stories, that has pushed the price down. Seems to be consistent, and I bet you could map out the news coverage in the past and overlay that on the price swings and they would probably align somewhat. The question is whether this Monday will bring another negative news cycle for BTC, or will the stories dry up because it's no longer a fresh subject matter to cover (for the short term).

This pushes the panic sellers and doomsdayers out. We've been at the bottom for a couple weeks now. Negative stories are continuing because the big guys definitely don't want to upset the status quo, which is exactly what BTC is. I heard 2 great interviews earlier on NPR. Forbes & someone sitting on the bitcoin board.

Both gave very pragmatic advice on people that want to invest in bitcoin, but Forbes was definitely like sell, sell, sell because he benefits from the status quo. Old money. The bitcoin guy was like don't invest expecting to get rich. "Do your research." basically.

I'm just saying, the news probably does effect people's opinions for the noobs, but when the people that are in the know see the price starting to shoot up, it's going to the moon. Then when the noobs see it going up, it's going to Mars. That's when I sell.
 

frowertr

Golden Member
Apr 17, 2010
1,372
41
91
Unless nearly everyone stopped mining KDC, something is seriously wrong. Difficulty dropped down to under 1 after the fork.

Edit - Something is broke with KDC guys: https://bitcointalk.org/index.php?topic=407705.7760 I have already moved my farm off Sunny's Pool. Suggest everyone stop mining KDC now until it is resolved.
 
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IEC

Elite Member
Super Moderator
Jun 10, 2004
14,588
6,042
136
Yup... sent 1500+ KDC to CoinedUp, never made it. Hope they magically reappear when everyone gets back on the correct fork, seeing as how these coins were mined prior to the brokenness...
 

SunnyD

Belgian Waffler
Jan 2, 2001
32,674
146
106
www.neftastic.com
Well, I came here to inform everyone of whatever fork issues, but looks like you all are on top of it.

Unfortunately this is what happens when devs knee-jerk crap like this.

Anyway, I've opened up an AuroraCoin pool. Holy f'n crap - 17GH/s network hash rate! I doubt I'll make a dent in that, ever. As always, you all are more than welcome to abuse it while waiting for KDC to sort its crap out.
 

KlokWyze

Diamond Member
Sep 7, 2006
4,451
9
81
www.dogsonacid.com
I'm saddened I'm not mining any more. I'll probably jump back in sometime. Going to keep my open air bare bones rig. Probably re-config the case for better use of the risers before jumping back in, if/when prices plummet. Definitely by next Winter. I didn't realize the difference the cards made!
 

Kenmitch

Diamond Member
Oct 10, 1999
8,505
2,250
136
Yup... sent 1500+ KDC to CoinedUp, never made it. Hope they magically reappear when everyone gets back on the correct fork, seeing as how these coins were mined prior to the brokenness...

My deposit went thru earlier today. I was watching CoinedUp and KDC was on the move then....Poof death spiral nose dive according to the charts! Maybe caused by the issue?

Currenlty not even listed but my balance is still in my wallet it looks like.

Already moved my cards back to LTC about an hour or so ago.
 

Mark R

Diamond Member
Oct 9, 1999
8,513
16
81
Anyone know if these will work in a 16x slot? Thank you

Yes. They work fine. No jumper wires, etc. are needed. They just work. I was unable to get them to work in a 1x slot (but I think that was the motherboard not supporting GPUs in 1x slots).

However, I would recommend that you tape the USB cable into the sockets, because the fit can be a bit lose, and PCI-e slots are not forgiving if the connection is a bit glitchy. Also check the direction of the USB cable carefully - this type of riser needs the cable to be a specific way around, and it might not work properly with the cable backwards (you won't fry anything). You should also configure the BIOS to use PCIe2.0 mode, PCIe3.0 doesn't work well with this type of riser.

If using a 2nd PSU for the cards, remember that the riser MUST be connected to PSU 1 (the PSU that powers the mobo). These risers do not provided a strong ground between card and mobo, and power fluctuations at boot-up can overheat and fry the PCI-e slot and the traces on the mobo.

If the riser connects 2 different PSUs (1 PSU running mobo, 1 PSU running riser), you have a very good chance of frying your motherboard. (I fried several motherboards this way)
 

SunnyD

Belgian Waffler
Jan 2, 2001
32,674
146
106
www.neftastic.com
Regarding KDC:

I've put the pool into maintenance mode so nobody tries to pull anything out while it gets sorted out in the meantime.

Supposedly one of the other pools "fixed" the code and submitted it and has been running that fork. Convenient, right? Unfortunately, THAT code hasn't been put into an official release yet, so I'm not pulling it. Once the official source tree is updated, then I'll get the pool updated and reopened.
 

slashbinslashbash

Golden Member
Feb 29, 2004
1,945
8
81
Pretty good article here from a banking trade rag:

http://www.americanbanker.com/magazine/124_02/why-bitcoin-matters-for-bankers-1065590-1.html

I have to say, this is probably the first somewhat "mainstream" (i.e., not tech-oriented) publication that I have seen which actually understands how Bitcoin works on several levels, and has a full and nuanced and forward-looking view of Bitcoin. Not just the coins, but the technology as a whole. The author sees the blockchain idea being used in "real" banking someday. Hell, just this image is probably the best "in a nutshell" Bitcoin explanation I've ever seen.



This is just my assumption, but

I believe the amount of time it takes for a transaction to be conformed depends on the Network Hash of that coin.

Simply put, a Bitcoin transaction should be conformed fastest out of all alt-coins as it has the highest network hash, while something new like Zeit coins should be the slowest because not a lot of people mining it.

Again, this is just my assumption, could be completely wrong.

Someone with superior knowledge should chime in.

Confirmation depends on that transaction being used in a Block. Until it shows up in a Block, it might have propagated throughout the network (so both the sender and recipient can see it), but it will still be "Unconfirmed".

Some people/clients/whatever will not count it as "confirmed" until it has been included in a block, and that block has been confirmed in the blockchain several times over. (Commonly 1 extra block, 4 extra blocks, 10 extra blocks... depending on trust between sender and recipient, and value of the amount sent.) This is due to the possibility of orphaned blocks and the short-term forks that can happen due to them. (2 miners find a block at the same time; one of the blocks is reported to part of the network, the other block is reported to another part of the network... then the network figures out that it's got 2 different blocks floating around, and the majority rules as to which block was the real one, and which direction the fork should take.) When an orphaned block occurs, theoretically your transaction should be included in both the orphan block and the true block; but sometimes it might only be included in one or the other. (Or neither; but in any case, it should show up in a block soon.) (Miners can pick and choose which transactions to include in a block; paying a transaction fee bribes the miners to include it as early as possible, if it is not a high priority transaction. (High priority transaction usually meaning old bitcoins that haven't been moved around recently. This is to prevent blockchain spam, where 1 person could just send back and forth tiny amounts of BTC over and over again to millions of addresses.))

In any case, the block time of the network will determine how long it takes to confirm (whatever definition of confirm you choose). BTC is designed to have block times of 10 minutes on average, but it can go as low as a few seconds (somebody gets very lucky) or as long as 40+ minutes (the whole network has bad luck). I know I've seen BTC blocks in the 10-second range, and as I write this, miners have been working on the current block for over 30 minutes.

So DOGE transactions will be confirmed more quickly than BTC or LTC. It doesn't directly have anything to do with the network hashpower. It has to do with the block rate, which is programmed into the code by the designer of the coin, and which affects the difficulty scaling to match the hashing power of the network.

So, I suppose if a coin had a long difficulty reset period (like BTC = 14 days) and it were on a low difficulty but had a lot of hashpower come in, the blocks would come in quicker on average, which would speed up confirmation time. But as soon as the difficulty resets, it should go back to 10 minutes. (In the case of Bitcoin.)

That being said, it would be smart to require more blocks for confirmation for DOGE than for BTC or LTC. Since the blocks come so fast one after the other, there is a greater chance for an orphan or a short fork with DOGE.
 

walloyyy

Member
Feb 14, 2012
26
0
0
Haven't used those, but I dont see why they wouldn't work in identical manner to other types.

Some motherboards require a short to get the slot to recognize a riser of any kind.

Correct use of PCIE riser

Thanks Attic, I ordered a few 30cm USB risers from them. Hopefully they work pretty well! I'm thinking about using dual PSU, have you tried either of these

http://www.poweredrisers.com/dual-power-supply-adapter-similar-to-add2psu/
or
http://www.poweredrisers.com/dual-power-supply-cable-24pin-atx-motherboard/
 

UNhooked

Golden Member
Jan 21, 2004
1,538
3
81
Anyone check Myriad coin? Pretty cool concept.

On a diff note. I got me a Asrock PRO BTC this weekend and plan to install 6 R7 265s when they come out. Any idea if I need powered risers? I keep getting mixed responses. In general from what I have gathered anything over a 270/270x will require a powered riser else its fine.

Anyone comment?
 
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