Cryptocoin Mining?

[IEC]

Well yes, that's why I never have more than 10000 DOGE in a pool and never keep a balance on CoinedUp - it always goes to my BTC or LTC encrypted wallets which are promptly closed upon confirmation. Never hurts to be prudent in security practices.

 

[KingFatty]

Can someone share their holding strategy for Bitcoin and Litecoin?

Currently all my coins are held as Litecoins in a litecoin wallet. I think this is too risky, and I want to convert some Litecoins to Bitcoins, to hold a portion in a bitcoin wallet.

My question is has there been a trend over time at all, as to the behavior of when good conditions are to convert litecoin to bitcoin?

For example, I know that generally the price of litecoin follows the price of bitcoin, so it shouldn't really matter when I convert.

But I'm curious about whether there might be more opportune times. For example, does the LTC/BTC ratio look more favorable when prices are going up? Or when prices are going down?

More specifically, does the price of LTC lag behind the price of BTC enough to where I should convert from LTC to BTC when the price of BTC is falling, but before LTC has had a chance to "catch up"? Or vice versa?

I'm not going to convert LTC to cash, then convert cash to BTC, because that seems like cheating to me because I want to keep this all as "imaginary" money and not actually spend any of my actual cash. Just for purity's sake so I can tell my grandkids about how it was all like the Matrix and I never even used any of my money, it was all straight out of the computer. But seriously I'm hoping to just take that option off the table for discussion, and confine the question to whether there is a trend to the best conditions for trading LTC directly to BTC, or if human behavior patterns have even followed such a trend (my guess is that LTC price lags BTC price, so best time to buy is when you immediately see BTC start to drop in price, but please correct me if that's wrong).

 

[Silverforce11]

holding it in your wallet is the least risk.. just make sure you dont visit too many prn sites and have a good system security practices.

as to your other questions, nobody knows where litecoin is headed in relation to btc. anyone who says they are certain is a liar or a fool. it is up to your own gut instincts to where you think ltc is headed.

myself, i believe the current 0.029 is very low in relation to recent history and the constant global improvement in awareness and reach of ltc. it should hit 0.035 and 0.04 relatively soon, IMO. but certainly don't trust me because i have nothing besides my gut to say that.

edit: there's one certain truth that history has taught us, whenever BTC crash, altcoins crash harder and faster. people panic, they all rush to cash out altcoin -> BTC -> $$ ASAP causing a rapid fall in altcoin prices, while slowing btc falls (due to more demand).

 

[UNhooked]

I for now converted all my LTC to BTC just because.....

Thought if LTC is going to go higher so will BTC Now if Coinbase would start accepting LTC. I might just hold on it as well.

In the end it's all just speculation.

 

[bob32768]

I'm sitting on almost 12 LTC right now and am contemplating moving it to BTC. I've watched some of the exchange rates and there is a bit of movement, but trying to figure out when to sell would be tricky.

 

[wand3r3r]

I would highly recommend you guys (at least with firefox) start thinking about browser security.

Noscript is an excellent plugin to disable javascript, java, flash, etc. which are the main causes of the common malware (add-on in FF). There is a ton of malware floating around, and wallets are hot on their priority lists since there is not a thing you can do if they steal it. Once it's gone, it's gone. Drive by viruses are the biggest threats. I'd imagine you know not to click links in emails unless you are 100% sure etc. etc.

Noscript is an easy plugin to use, 85% of the sites work well enough without JavaScript etc. so you can browse most "random" sites without the exposure. You can disable the alerts it shows you, and then just click the little S icon to enable scripts on the trusted sites. It mangles some sites, and a lot require JS but you can just enable as you feel fit.

https://addons.mozilla.org/en-US/firefox/addon/noscript/

A lot of the pool hacking etc. can be done by stealing your information through the browser. Don't keep passwords the same between sites. Use keepass (and back it up somewhere else too).

In mining the worst thing are these random coins that keep "popping" up. You need to run .exe's to get their wallets and they can easily have key stroke trackers etc. Viruses are known by their "signature" i.e. bits on a disk usually, and active "behavioral" tracking is available in enterprise level software (and pricing) which could actually notice that an unkown piece of software is doing something that should raise a red flag. The coin malware is certainly not high on the list of AV priorities and they can easily change the sw signature so AV sw won't recognize it based on the data on the disk.

 

[KompuKare]

In mining the worst thing are these random coins that keep "popping" up. You need to run .exe's to get their wallets and they can easily have key stroke trackers etc.

Isn't random exe's that exactly what virtual machines are there for? Strange wallets, new super-tools, freeware with known adware, software to test and so on I always install on VMs. I have a bunch of VirtualBox machines precisely for that kind of stuff with 'untouched' ones I can clone etc as required.

For actually storing quantities of LTC/BTC I would recommend a Linux VM and you can turn of shared clipboard etc. In fact with Linux you could install it to an encrypted virtual disk and set a strong password so even if the whole computer was compromised/stolen nobody can get at the wallet.dat.

Of course, if your disks breaks and you have no backup then the coins goes to great recycle bin in the sky.

 

[KingFatty]

there's one certain truth that history has taught us, whenever BTC crash, altcoins crash harder and faster. people panic, they all rush to cash out altcoin -> BTC -> $$ ASAP causing a rapid fall in altcoin prices, while slowing btc falls (due to more demand).

You seem to have observed the trends for a while, and so it sounds like you see a definite pattern where LTC would react to BTC crashing. I agree. But do you recall how fast that happens? If BTC begins to crash, will LTC follow it instantly based on auto-trading, so there isn't really a 'gap' in time when BTC starts to crash but LTC still hasn't moved yet?

Also, does BTC just stand on its own like a massive elephant, and decides to go up or down on its own, and then the LTC will follow along like a bird on the elephant's back?

Or can BTC be influenced by LTC? Can the little bird riding on the elephant peck hard enough on the BTC elephant to make him start to move?

I just wonder if there is any chance that this is kind of the behavior trend you might see: when BTC price drops, then the LTC price will crash hard and go low. So, LTC hits the bottom, and BTC continues downward in the same direction, but more slowly. Then, LTC starts to increase all by itself, even though BTC is still heading down?

That would seem like a great time to trade LTC for BTC.

So could LTC have movement totally independent of BTC? And then, if LTC goes up a little, maybe that can help BTC to stop dropping?

I'm just wondering if there has been this kind of behavior in the past, or if the BTC price and LTC price are so locked together that they move almost as a single coin that goes up or down in price together.

My point is that could there be an advantage to selling when BTC/LTC prices are crashing or surging, compared to when prices are somewhat stabilized.

 

[Binky]

SGminer has been released, and it's supported by a new version of cgwatcher. Yay.
https://litecointalk.org/index.php?topic=13190
http://www.reddit.com/r/litecoinmining/comments/1va8g2/ann_sgminer_400_release/

Windows binaries...use with caution?
http://www.reddit.com/r/litecoinmining/comments/1va8g2/ann_sgminer_400_release/ceqvjwn

Who's gonna be the guinea pig here and try it?

290/290x users might benefit - intensities up to 42.

It also allows for comma-separated gpu thread numbers. Cgminer forces all cards to use the same # of threads.

 

[tential]

After reading the Anandtech GPU 2014 guide it said that these R9 290 and 290x cards are good for mining only and tehy recommended Nvidia for GPU for gaming. I dunno wtf happened to r9 290/x pricing (seriously wtf happened?) but is this only for these 2 cards or can I make enough cash above my power usage that it's worth it to recoup some of my costs of my 7950. Haven't gamed in awhile and I think it's time I start mining and making SOME cash back.

 

[blastingcap]

You seem to have observed the trends for a while, and so it sounds like you see a definite pattern where LTC would react to BTC crashing. I agree. But do you recall how fast that happens? If BTC begins to crash, will LTC follow it instantly based on auto-trading, so there isn't really a 'gap' in time when BTC starts to crash but LTC still hasn't moved yet?

Also, does BTC just stand on its own like a massive elephant, and decides to go up or down on its own, and then the LTC will follow along like a bird on the elephant's back?

Or can BTC be influenced by LTC? Can the little bird riding on the elephant peck hard enough on the BTC elephant to make him start to move?

I just wonder if there is any chance that this is kind of the behavior trend you might see: when BTC price drops, then the LTC price will crash hard and go low. So, LTC hits the bottom, and BTC continues downward in the same direction, but more slowly. Then, LTC starts to increase all by itself, even though BTC is still heading down?

That would seem like a great time to trade LTC for BTC.

So could LTC have movement totally independent of BTC? And then, if LTC goes up a little, maybe that can help BTC to stop dropping?

I'm just wondering if there has been this kind of behavior in the past, or if the BTC price and LTC price are so locked together that they move almost as a single coin that goes up or down in price together.

My point is that could there be an advantage to selling when BTC/LTC prices are crashing or surging, compared to when prices are somewhat stabilized.

As you may imagine due to all the trading bots and large user base, if bitcoin crashes, everything else generally crashes right away as well, usually harder. The exceptions are few and far between. You'd need lightning reflexes or a trading bot of your own to make much off the differential. The bitcoin community is very savvy to try to arbitrage away stuff like this, such as the weekend dip phenomenon back in the day when bank access in real life affected liquidity on coin exchanges over weekends.

BTC influences other coins, not the other way around. Why? Enthusiasm among users, and relative stability (large market cap and liquidity). http://coinmarketcap.com/ (Ignore Ripple, it's nowhere near that big and should be ranked much, much lower, but the way that coinmarketcap calculates it artificially inflates is market capitalization. If you look at exchanges you can see Ripple is a lot less active than its alleged market cap, as it should be since it has a centralized control by a company, unlike most coins, which are decentralized).

If people want to buy into crypto they usually start with bitcoin, not some scammy altcoin. If bitcoin goes up, then some people may also gamble on altcoins hoping they'll follow suit. If bitcoin tumbles, some people get scared and cash out of scamcoins and into something like US dollars or bitcoin. If you look historically, when bitcoin is flat or not moving much in either direction, altcoins suffered way more... like last year when bitcoin was flat for many months, litecoin/bitcoin ratio fell more than 50%. And that was litecoin. Other altcoins had even less enthusiasm.

 

[slashbinslashbash]

After reading the Anandtech GPU 2014 guide it said that these R9 290 and 290x cards are good for mining only and tehy recommended Nvidia for GPU for gaming. I dunno wtf happened to r9 290/x pricing (seriously wtf happened?) but is this only for these 2 cards or can I make enough cash above my power usage that it's worth it to recoup some of my costs of my 7950. Haven't gamed in awhile and I think it's time I start mining and making SOME cash back.

7950 will make more value than it costs in electricity, if your electricity comes in at reasonable rates. ($0.15USD per KWH being reasonable) But you are not going to set the world on fire. Maybe a few dollars a day.

The guide did NOT say that the 290 and 290x cards are "good for mining only". They are still great for playing games, but their prices are jacked up about $100USD over what they should be. The 290, 290x, 280, 280x are just not as good of value per dollar for gaming. The reason the prices are so high is that these cards are so good at mining that they are selling out all over the place. So retailers have jacked up the price because miners are still buying them at that price.

 

[UNhooked]

SGminer has been released, and it's supported by a new version of cgwatcher. Yay.
https://litecointalk.org/index.php?topic=13190
http://www.reddit.com/r/litecoinmining/comments/1va8g2/ann_sgminer_400_release/

Windows binaries...use with caution?
http://www.reddit.com/r/litecoinmining/comments/1va8g2/ann_sgminer_400_release/ceqvjwn

Who's gonna be the guinea pig here and try it?

290/290x users might benefit - intensities up to 42.

It also allows for comma-separated gpu thread numbers. Cgminer forces all cards to use the same # of threads.

I tried it earlier didn't see any change in my hash rates. In fact I had issues with CGwatcher so I stopped using it. As it is my intensity can only go up to 17, any higher nets me nothing more.

 

[tential]

7950 will make more value than it costs in electricity, if your electricity comes in at reasonable rates. ($0.15USD per KWH being reasonable) But you are not going to set the world on fire. Maybe a few dollars a day.

The guide did NOT say that the 290 and 290x cards are "good for mining only". They are still great for playing games, but their prices are jacked up about $100USD over what they should be. The 290, 290x, 280, 280x are just not as good of value per dollar for gaming. The reason the prices are so high is that these cards are so good at mining that they are selling out all over the place. So retailers have jacked up the price because miners are still buying them at that price.

Makes me wish I had bought them at the original prices now. I actually was wondering where the mining section of reviews had been since I had only seen gaming performance talked about.

Thanks for the reply, I guess I have to decide if I want to bother learning how to do the mining stuff for a couple extra dollars a day or if I'll leave my PC nice and idle and not have my GPU running at max speed all day long.

 

[Silverforce11]

You seem to have observed the trends for a while, and so it sounds like you see a definite pattern where LTC would react to BTC crashing. I agree. But do you recall how fast that happens? If BTC begins to crash, will LTC follow it instantly based on auto-trading, so there isn't really a 'gap' in time when BTC starts to crash but LTC still hasn't moved yet?

Also, does BTC just stand on its own like a massive elephant, and decides to go up or down on its own, and then the LTC will follow along like a bird on the elephant's back?

Or can BTC be influenced by LTC? Can the little bird riding on the elephant peck hard enough on the BTC elephant to make him start to move?

I just wonder if there is any chance that this is kind of the behavior trend you might see: when BTC price drops, then the LTC price will crash hard and go low. So, LTC hits the bottom, and BTC continues downward in the same direction, but more slowly. Then, LTC starts to increase all by itself, even though BTC is still heading down?

That would seem like a great time to trade LTC for BTC.

So could LTC have movement totally independent of BTC? And then, if LTC goes up a little, maybe that can help BTC to stop dropping?

I'm just wondering if there has been this kind of behavior in the past, or if the BTC price and LTC price are so locked together that they move almost as a single coin that goes up or down in price together.

My point is that could there be an advantage to selling when BTC/LTC prices are crashing or surging, compared to when prices are somewhat stabilized.

That's a lot of Qs, I'll start from the top down. These aren't rules, just general observations of market behaviour.

1. When BTC crash all altcoins will instantly tank in $ value since its linked to their ratio of a BTC. Then after that, there is a small window gap where the altcoin holders take some time to process the info and if the BTC crash is severe, there will be panic for a mass sale. Altcoins get exchanged into BTC for cashing out into real $. So Altcoins will tank much faster than BTC.

2. When BTC recovers, obviously all altcoins follow it up based on their ratio to BTC, again, there is a lag phase, and a lot of people become optimistic and see an opportunity to make $, so they buy heaps of very cheap altcoins (from the crash).

Taking #1 and #2 together, the take home message is that altcoins seems to amplify what happens to BTC. It therefore provides good opportunities to smart and fast traders to take advantage of the situation.. that is why lots of people trade in alts, for no other reason (before someone tells me there is intrinsic value in some new psuedo coin due to x,y,z algorithm, the market doesn't GAF because its beyond all non-geek's understanding..), except fast chance of making $.

3. LTC can move independent of BTC value, its ratio to BTC can go up and down but it seems to be around the 0.03 mark for a long time now. It fell down to 0.02 during the recent BTC crash, and was as high as 0.0356 when BTC was ~$1,400. Where you think its headed is purely your own gut feelings.

Lastly, there is an advantage to selling/buying when you feel the ratio of LTC to BTC is too low or high, regardless of whether there's a crash or not.

Myself, I made a lot of potential profit in the last crash, I bought a lot of LTC when it was down to 0.022 of a BTC (using the BTC I've mined/traded with altcoins, no injection of real fiat $). But its not profit I've cashed out yet, because I still feel 0.029 or 0.03 is a bit low of where it should be.

I hope it helps you.. all these things are difficult to explain its all about instincts.

 

[blastingcap]

Note that the ratio of an altcoin:bitcoin can actually go down during bitcoin fluctuations up OR down. When bitcoin spiked up, it was a painful few weeks as the litecoin/bitcoin ratio kept falling; in fact, the litecoin;bitcoin ratio fell all the way under 0.01 for a while. Imho bitcoin is already a gamble, so trying to time the market on altcoin is even more of a gamble--you can win or lose big just like you can win or lose big in Las Vegas.

The main problem with altcoins is that almost all of them have no organic demand. Almost all altcoins are 100% speculation-driven except for dogecoin which actually goes have some organic demand thanks to reddit tipping (but a LOT of speculative demand too), and maaaybe litecoin though I don't think I see very many ordinary transactions done via litecoin. Speculation-driven commodities can gyrate in value wildly. Bitcoin's demand is mostly speculative but there are actually some organic sources of demand for transactions, like people buying drugs or whatever, bitcoin is generally more stable than altcoins in terms of coin:dollar ratio.

It's kind of a crapshoot when gambling on stuff that is purely driven by speculation, so don't gamble more than you are willing to lose.

 

[Silverforce11]

Doge.. why u such coin?

Sold heaps at 40/M thinking it was an awesome deal... /facepalm

 

[KlokWyze]

Doge.. why u such coin?

Sold heaps at 40/M thinking it was an awesome deal... /facepalm

Want to buy my coinye?

 

[Silverforce11]

Want to buy my coinye?

I dislike the real life personality, I hate the crypto variant more. So, no. Let it have a quick and painless death, its the best we can all do for it.

 

[KlokWyze]

I dislike the real life personality, I hate the crypto variant more. So, no. Let it have a quick and painless death, its the best we can all do for it.

Would have been glorious if the devs were smart about it and actually had a shred of courage. Many would have made out from it whilst humiliating Kanye.

 

[pandemonium]

Kanye could've ran with it and had a little fun, but instead he decided to go full douche. I don't see how that's really a bad thing, but depending on how popular media spins it, it may not give any forward momentum to cryptos in general. Hopefully they'll get the story right and not give in to all of the intellectual property rights ownership childishness.

 

[wand3r3r]

dogecoin is taking off! (who knows if it's a temporary bump)

 

[suklee]

Just got a 290x but can't get it to mine. I've installed latest drivers as well as APP SDK 2.9. When I start cgminer:

Error -42: Loading Binary into cl_program (clCreateProgramWithBinary)

Highest hash rate I've gotten is 10khash... what am I missing? Tried few settings online but none seem to work. This is the latest one I tried:

--scrypt -g 1 -w 512 --lookup-gap 2 --thread-concurrency 24550 -I 20 --gpu-fan 75 --gpu-powertune 20

 

[Silverforce11]

Uninstall the SDK you dont need it with the latest drivers. So remove everything and do it again.

 

[Silverforce11]

Oh gawd.. now i regret selling so much Dodge when it was around 40/M of a BTC.

This is insanity watch it fly.

dogecoin is taking off! (who knows if it's a temporary bump)

DOGE is the mythical THIRD COIN.

If I wake up tomorrow and Doge hits 100/M of a BTC, I am so going to facepalm and bang my head into my desk... i traded so many millions of it at 40/M.. sad panda is sad.

Well bloody hell, it already flew to 70/M already. May as well do it now... *bangs head into desk*