Cryptocoin Mining?

[Brekyrself]

For those keeping track of btc 2.0 projects, a Bitshares test network has been launched. One step closer to having a decentralized options exchange...this is huge!

https://bitsharestalk.org/index.php?topic=4480.0

 

[ultimatebob]

I'm curious. For those of you still mining, are you still going after the new "pump and dump" coin of the week, or are you sticking with the slightly more stable coins like Litecoin and Dogecoin?

Also, is anyone still using video cards to mine, or have you all switched over to dedicated mining devices?

 

[Brekyrself]

I'm curious. For those of you still mining, are you still going after the new "pump and dump" coin of the week, or are you sticking with the slightly more stable coins like Litecoin and Dogecoin?

Also, is anyone still using video cards to mine, or have you all switched over to dedicated mining devices?

Using video cards and CPU's to mine PTS still. Not exactly the best usage per $ however it's nice to support something that is not a pump and dump!

If I3 is able to pull off Bitshares, future DAC's should provide a nice return to PTS holders.

 

[T_Yamamoto]

I'm curious. For those of you still mining, are you still going after the new "pump and dump" coin of the week, or are you sticking with the slightly more stable coins like Litecoin and Dogecoin?

Also, is anyone still using video cards to mine, or have you all switched over to dedicated mining devices?

I do occasionally, but lately, the coins that are meant to be pump and dumps have all been a bust (or super unprofitable)

 

[Attic]

I'm curious. For those of you still mining, are you still going after the new "pump and dump" coin of the week, or are you sticking with the slightly more stable coins like Litecoin and Dogecoin?

Also, is anyone still using video cards to mine, or have you all switched over to dedicated mining devices?

A few of us are perhaps just gluttons for punishment. I think revenues have dropped over 80% from the peak of last november/december when 1mh/s could get 0.015-0.020btc per day (some cases much much more like doge early days) and BTC prices were near $1000. Only seriuos miners are left IMO, becuase it is much more of a challenge to be profitable now with a lot of rates at 0.0035btc or less for 1mh/s of mining power and BTC prices hovering near $400.

So just to fill that in, a 10mh/s farm went from clearing close to $200 a day to now hovering around $12-$25 now.


I'm still mining on multi pool which mines whatever is most profitable and I have stepped away from Scrypt and Scrypt N and am going x11. I don't like ASIC's, but that's probably because im' more doing this as a hobby and I like configuring GPU's in a standard mobo/cpu system for maximum efficiency rather than plunking down a ton for ASIC hardware. I'm also mostly drawn to decentralization of a currency, something ASIC's work against IMO.

 

[IEC]

Bah, AsiaCoin.

 

[KingFatty]

If the price of BTC rises, what you mine and hold today (using wafflepool or middlecoin etc) will in fact turn out to be profitable later.

So is there any reason why global demand for BTC will change going forward. I think so.

 

[T_Yamamoto]

Bah, AsiaCoin.

Sigh.

Oh well. Hopefully it sells for more than I bought v1 at.

 

[compman25]

I sold a significant chunk of AC @ 2000 Satoshi's expecting it to have a brief dip like BC did after the mining ended.. and just used the entire proceeds to buy as much as I could @ 1095.. now almost 1300 and rising again.

Excellent..

Did you hold for the long term???? :biggrin:

 

[rtsurfer]

Sigh.

Oh well. Hopefully it sells for more than I bought v1 at.

Bah, AsiaCoin.

Hate to do this to you guys.
But I f****** called it.

Asiacoin is getting nowhere.
WhiteCoin is a Blackcoin clone that is going to die after one or two P&Ds.

You guys should look in to Flutter coin & Caishen.

Here was Virge_'s response at my post.

Quoting for the posterity of laughing at this statement in a few months (or, possibly, less).

I would have been feeling real good about myself if only I didn't buy myself some AsiaCoin this morning.

I had some BTC stuck in BlackCoin that I was finally able to release.

I saw AsiaCoin down & put all of my BlackCoin BTC in there in hopes of day trading the Coin.
FACEPALM...

Teaches me a thing or two about reckless investment.
I have been trying day trading for the past few weeks & I have lost almost all of my initial investment.
But I have also learnt quite a few lessons.

Mining is the safest way to make money in Crypto World.

 

[SimianR]

lol.. so uh. Asiacoin. So much for it being for those who missed out on blackcoin?

yikes.

I think trying to rope people in on any coin by naming it after a specific region is lame and looks like a desperate popularity/cash grab.

 

[IEC]

Well at least I made some profits from trading... it at least mostly offsets the complete loss of the stash I was holding.

That stealth 3 billion first block... someone needs to do some explaining. lol

 

[Virge_]

Well, gonna have to mark this one off as a bummer. Honestly never even occurred to me to review the source code.

On the bright side I sold over 90% of my holdings over 2k Sat waiting for it to tank back down to <500 to re-buy.. glad I was watching the forums before I pulled the trigger.

 

[Elfear]

Bah!! The one time I venture out and take a little risk I invest in Asiacoin. :\ Threw a BTC at it (which is a lot less than some people) and have been mining away til I bothered to read the forum today.

Sounds like there is a glimmer of hope that some smart coders can rebuild the blockchain but I'm not holding my breath.

 

[T_Yamamoto]

Bah!! The one time I venture out and take a little risk I invest in Asiacoin. :\ Threw a BTC at it (which is a lot less than some people) and have been mining away til I bothered to read the forum today.

Sounds like there is a glimmer of hope that some smart coders can rebuild the blockchain but I'm not holding my breath.

Seriously? 1 BTC. I only bought a couple hundred, not a big loss for me. You can exchange your AC v1 for AC v2 when it comes out.

 

[ultimatebob]

I'm still pissed that Kittencoin and Jesuscoin never caught on. Those seemed like they had brandname potential.

 

[T_Yamamoto]

I'm still pissed that Kittencoin and Jesuscoin never caught on. Those seemed like they had brandname potential.

Well when the field includes a lot of crapcoins, it's hard for some to make it out alive.

 

[rtsurfer]

Bah!! The one time I venture out and take a little risk I invest in Asiacoin. :\ Threw a BTC at it (which is a lot less than some people) and have been mining away til I bothered to read the forum today.

Sounds like there is a glimmer of hope that some smart coders can rebuild the blockchain but I'm not holding my breath.

S*** a whole BTC.
Not trying to lecture you after you already lost money, but.

Really man. Out of all coins in the sea of crypto, you choose to invest on AsiaCoin.?
Not one damn new idea in this coin.
Even the damn algorithm was Scrypt, stuff every new coin is running away from because of ASICs & summer heat for miners.

Due some research before pouring such money in a coin. A few people claiming in a thread about a coin going to moon does not make it credible.

I'm still pissed that Kittencoin and Jesuscoin never caught on. Those seemed like they had brandname potential.

I don't think you have the right to be pissed about the failure of a coin because the only thing you saw in it was some bulls*** brand name potential.

The only coin that every got anywhere due to its brand name potential is Doge. Which still has me surprised that it still exists. Its dying/stagnating slowly though.

Well, gonna have to mark this one off as a bummer. Honestly never even occurred to me to review the source code.

You don't say.
Next time

Sell orders were higher than buy orders because of multipool dumps. This will end quite spectacularly come Wednesday and I expect to see AsiaCoin skyrocket in value.

All the sell orders did was let those of us with some long-term vision to buy a ton of them - I've got almost two million AC currently and have a large buy order waiting if it drops back down for any reason.

You can't just watch a coins market to understand it's intrinsic.

Don't try to look for the intrinsic in a coin.

There is no honor amongst thieves, this idiom is no where more applicable currently, than the crypto world.

 

[ultimatebob]

I don't think you have the right to be pissed about the failure of a coin because the only thing you saw in it was some bulls*** brand name potential.

The only coin that every got anywhere due to its brand name potential is Doge. Which still has me surprised that it still exists. Its dying/stagnating slowly though.

Kittencoin seemed like a good idea at the time because geeks like cat memes even more than they like dog memes. It just wasn't marketed well.

Same thing with Jesuscoin. It could have been positioned as the wholesome alternative to "evil" coins like Bitcoin and Litecoin, which are often used for buying drugs. Man... if they could have got one of those major televangelist churches to endorse it a way to give online donations, it could have really taken off.

 

[Madpacket]

I'm curious. For those of you still mining, are you still going after the new "pump and dump" coin of the week, or are you sticking with the slightly more stable coins like Litecoin and Dogecoin?

Also, is anyone still using video cards to mine, or have you all switched over to dedicated mining devices?

I'm still mining and holding LTC on my videocards while awaiting my 1st batch viper to arrive. Sold my BFL BTC ASIC gear a few months ago for good $$$. I look at this as a long term investment and ignore the current joke coins as they normally fail after a few weeks/months.

Mining may be unprofitable at the moment but when BTC spikes again (forcing alts to rise) I would kick myself for turning off my rigs now.

 

[Attic]

zoomhash is offering 5.2mh's of asic scrypt power via gridseed blade for $1000.

I think pump and dump scrypt coins will gear up while asics start to flood the market, but I don't see anything good for scrypt long term.

Litecoin dev thinks that the most important thing for Litecoin vs Bitcoin was a different POW, but while the POW was different it's of little importance if it's outcome is the same as Bitcoin. I still see ASIC's as the endgame of scrypt, not an evolution of it. In scrypt's case mining becoming unprofitable for all but the few will implode the value of the coins because the coins don't enjoy BTC's recognition or marketability. Hope it happens soon before more folks get swindled by too many clever pump and dumps.

 

[T_Yamamoto]

zoomhash is offering 5.2mh's of asic scrypt power via gridseed blade for $1000.

I think pump and dump scrypt coins will gear up while asics start to flood the market, but I don't see anything good for scrypt long term.

Litecoin dev thinks that the most important thing for Litecoin vs Bitcoin was a different POW, but while the POW was different it's of little importance if it's outcome is the same as Bitcoin. I still see ASIC's as the endgame of scrypt, not an evolution of it. In scrypt's case mining becoming unprofitable for all but the few will implode the value of the coins because the coins don't enjoy BTC's recognition or marketability. Hope it happens soon before more folks get swindled by too many clever pump and dumps.

ASICs will be the end game for scrypt, just like how it was for SHA-256.

However, it will make more people leave the game since Scrypt-N, X11, etc will be too hard for the average user to comprehend.

 

[Attic]

ASICs will be the end game for scrypt, just like how it was for SHA-256.

However, it will make more people leave the game since Scrypt-N, X11, etc will be too hard for the average user to comprehend.

I agree to an extent, but I think for anyone who can setup for srypt, that N or x-11 will be manageable.

I think world politics is intertwined with the trajectory of crypto to a greater degree than many may think. The world banking systems are in a precarious position with difficult to manage levels of growing debt and a drawing down of leaders power to control a common mans perception of incredibly corrupt banking and monetary systems. More exposure to the corrupt nature of world monetary systems, exposure that may happen during increased friction between super powers, is a boon to the crypto world IMO. China may hit a tipping point where they try to put a cap on BTC, but ultimately BTC simply bursts free there.

 

[T_Yamamoto]

I agree to an extent, but I think for anyone who can setup for srypt, that N or x-11 will be manageable.

I think world politics is intertwined with the trajectory of crypto to a greater degree than many may think. The world banking systems are in a precarious position with difficult to manage levels of growing debt and a drawing down of leaders power to control a common mans perception of incredibly corrupt banking and monetary systems. More exposure to the corrupt nature of world monetary systems, exposure that may happen during increased friction between super powers, is a boon to the crypto world IMO. China may hit a tipping point where they try to put a cap on BTC, but ultimately BTC simply bursts free there.

I think a lot of people will just switch over to ASICs once they hit the market (in a more open way than it is right now). We're sorta in the phase when BTC had the USB miners.

 

[Arkaign]

I agree to an extent, but I think for anyone who can setup for srypt, that N or x-11 will be manageable.

I think world politics is intertwined with the trajectory of crypto to a greater degree than many may think. The world banking systems are in a precarious position with difficult to manage levels of growing debt and a drawing down of leaders power to control a common mans perception of incredibly corrupt banking and monetary systems. More exposure to the corrupt nature of world monetary systems, exposure that may happen during increased friction between super powers, is a boon to the crypto world IMO. China may hit a tipping point where they try to put a cap on BTC, but ultimately BTC simply bursts free there.

http://seekingalpha.com/article/212...t-so-are-hopes-of-bitcoin-related-investments

What's the floor? $400? Less?

Are all the myriad of weekly pump/dump scam coins harming virtual currency even more?

Anyway, yes, banking is corrupt, and has been for as long as it's existed. I don't see VC changing that really, because what the gov't wants, it gets. And VC can't exist in any meaningful way without being controlled by the gov'ts eventually. All the hopes and dreams won't mean a thing if the feds decide that trading VC without going through their system = a felony. Governments exist solely to create laws, mountains of laws. Once congress decides they want to act, they will, and it will be a messy stupid disgrace like 99% of what they do. I even saw something about them trying to equate Bitcoin with terrorist threats.

As for the common man, I also don't think BitCoin has a prayer's chance of being relevant. Out of 1 million people, 20 thousand might know what the hell it is to any extent. Of those 20 thousand, maybe 1 thousand or less might be competent enough to know how to actually use it. Of those thousand, maybe a hundred might feel confident in putting any substantial part of his banking through it. And of those hundred, they will have a hell of a time using it on a daily basis. Go to Walmart, Starbucks, McDonald's, pay your mortgage, your internet bill, your cell phone bill. How many of those things can you seamlessly do with Bitcoin? None of them. You have to convert the funds to something that the retailer or vendor will accept first. Not exactly seamless. And the value of BTC might be $500 one day, $300 the next.

If a massive catastrophe happens (WW3, the second great global depression, a massive pandemic that kills billions, etc), BTC still won't be relevant, as the supporting systems may not even be operational to even use it. The internet CAN come completely crashing down. What you have then is barter with physical objects. Guns, water, fuel, food, medicine being the most valuable. Then gold, jewels, things that are small and give tangible feeling of value in a future time. Virtual currency? Nah. It would be just as screwed as the virtual dollars we already use, if not more so.