Cryptocoin Mining?

[frowertr]

For the last several days I've been doing pretty good over on Betarigs.com. With Ghash.io giving out up to double LTC payouts with their promotion, it pushed the cost of rig rentals up. I was able to sustain .01+ BTC/MH for the last several days by keeping my farm rented nearly 24x7 at those rental rates.

Looks to have tapered off a bit now but rental prices (.0085 BTC/MH) are still better than what you would be getting with the multipools (~.006 BTC/MH)

 

[fleshconsumed]

For the last several days I've been doing pretty good over on Betarigs.com. With Ghash.io giving out up to double LTC payouts with their promotion, it pushed the cost of rig rentals up. I was able to sustain .01+ BTC/MH for the last several days by keeping my farm rented nearly 24x7 at those rental rates.

Looks to have tapered off a bit now but rental prices (.0085 BTC/MH) are still better than what you would be getting with the multipools (~.006 BTC/MH)

How does it actually work? And wouldn't it be a pain to manage the rental process? I mean there is going to be downtime when your rig isn't leased, do you manually point your rig to some pool once it is leased and then manually point it back to your own pool once the lease is over? Seems like a lot of hassle to manage.

 

[frowertr]

How does it actually work? And wouldn't it be a pain to manage the rental process? I mean there is going to be downtime when your rig isn't leased, do you manually point your rig to some pool once it is leased and then manually point it back to your own pool once the lease is over? Seems like a lot of hassle to manage.

There is no hassle. Once you setup an account, you will get login info for the Betarigs.com proxy server. In cgminer, you set two pools, one being the proxy and the other whatever pool you want. The proxy will have highest priority so that when your rig gets rented, CGminer sees that the proxy is "up" and immediately switches away from your pool onto the proxy. Your rig then stays on the proxy for as long as the rental contract lasts. When the contract is over, the proxy goes "offline" and CGminer switches back to your pool.

It is totally automated on your end. You just have to setup the initial proxy address username/pass and you're off. It is basically setup the same way the multipools switch coins. You never know what coin you're on as the proxy handles all that in the background.

 

[chimaxi83]

Hey guys, quick question. I sent about 100k Doge from my wallet to my exchange, but I didn't realize a new one was released. This was yesterday, nothing showing up in the exchange now, about a day later.

What happens when you send from an outdated wallet? Oops.

 

[slashbinslashbash]

Hey guys, quick question. I sent about 100k Doge from my wallet to my exchange, but I didn't realize a new one was released. This was yesterday, nothing showing up in the exchange now, about a day later.

What happens when you send from an outdated wallet? Oops.

Open your wallet, click on the transaction. See if it has any confirms, how many nodes it has been broadcast to.

Pull up the transaction ID and search for it with Google. It might come up in a Dogecoin blockchain explorer. If it does not, then it's possible that this transaction never showed up in the network (i.e. it was rejected by other nodes because your client version was older).

Upgrade your wallet and see what happens. Either the coins will re-appear in your wallet, or your upgraded wallet will try to re-send the transaction (in which case, it should be successful).

Last week I sent 0.1 BTC to an exchange to buy some altcoins. The transaction met the criteria to NOT require a fee, so the client (Bitcoin-QT) did not prompt me to include a fee. My 0.1 BTC was floating around for several days before the transaction was finally confirmed. It showed up on Blockchain.info as "Unconfirmed - High Priority - Should Confirm Soon" for something like 2-3 days. I guess BTC miners are really stingy about not including non-fee transactions in their blocks.

Off topic, I've been GPU mining with ScryptGuild the past couple of days. I really like their interface, it is nice and clean. I'm so tired of using the MPOS interfaces on all of the altcoins. I have also sold off all but one of my SHA256 miners, and am in the process of selling the last one. At this point I will continue to mine only with my 280X, and if I get another motherboard with 2x PCIe slots, I will throw the 7790 in there as well. I think that I will buy the NZXT waterblock adapter and a nice big radiator for the 280X so that its fans don't up and die on me. At this point, I am definitely looking at mining more as a hobby that allows me to play with exotic (for me) hardware and make a bit of money back on the side.

 

[taltamir]

Off topic, I've been GPU mining with ScryptGuild the past couple of days. I really like their interface, it is nice and clean.

I like their interface too, but it seems like payout is a little low. 1.8$/day over the past 4 days at 600 kh/s (not including electricity or hardware costs, just gross income)

 

[bob32768]

I like their interface too, but it seems like payout is a little low. 1.8$/day over the past 4 days at 600 kh/s (not including electricity or hardware costs, just gross income)

Everything sucks lately and average profitability is down around 50% in the last month. Take a look at the profit graph on Clevermining as an example of what profit pools face now: LTC is 40% lower, and the scrypt-altcoin mess has dropped 60%.

 

[taltamir]

Everything sucks lately and average profitability is down around 50% in the last month. Take a look at the profit graph on Clevermining as an example of what profit pools face now: LTC is 40% lower, and the scrypt-altcoin mess has dropped 60%.

yes, I am aware. but still just mining doge and then trading it myself is 20% more profitable from the multiple...
thing is, I believe doge to be another scamcoin, so if I do that I have to keep on top of it and trade it regularly. manually, every day (especially with how all prices are tanking) so it is a PITA.
At least it isn't as bad as that POS hashcows site where the profit is even worse than LTC mining which they outright admit and argue "hey, we are just mining for fun"

 

[dajeepster]

I believe doge to be another scamcoin,

doge is a joke coin that started out as a joke that just caught on with the masses.. but i'm more than happy to trade my doge for bitcoins

 

[taltamir]

doge is a joke coin that started out as a joke that just caught on with the masses.. but i'm more than happy to trade my doge for bitcoins

presenting it as a joke allowed a few initial insiders to get a massive amount of coins stockpiled. This is a pump and dump. If it wasn't intentionally MEANT as such then it became one by accident, I still wouldn't want to be left holding the bag. I do mine it... and immediately sell for BTC

 

[bob32768]

doge is a joke coin that started out as a joke that just caught on with the masses.. but i'm more than happy to trade my doge for bitcoins

Didn't Doge also had a very good launch by most standards? No pre-mine/IPO, pools ready, wallets stable, silly humor, etc. ? Also, to some degree I think the large block rewards made it more "fun". It was cool in the early going to get 10's and 100's of thousands of DOGE compared to other altcoins.

 

[dajeepster]

presenting it as a joke allowed a few initial insiders to get a massive amount of coins stockpiled. This is a pump and dump. If it wasn't intentionally MEANT as such then it became one by accident, I still wouldn't want to be left holding the bag. I do mine it... and immediately sell for BTC

if you read the background on the coin and how it started, it was meant purely as a joke. the developer was making fun of all the altcoins that were out there that were pump and dumps.. he made a meme out of it.. it became popular purely by accident, and it's popularity exploded. It happened at the right time also, such as when bitcoin became prevalent in the news when it hit $1200 back in November. People were looking into bitcoins and seeing that they couldn't afford it, and saw doge, which had just started which at the time was at it's peak (relatively) and so they saw an easy entry not understanding much about altcoins. a month later (maybe) it hit bottom, but then started climbing again when it received more publicity especially since the people started using it to donate to each other and the Jamaican bobsled team... it started to catch on and went from being a joke coin to something of emotional value (relatively..). i.e. "if I donate dogecoin for good cause, I must be good also" .. or some other such nonsense.

bottom line, it wasn't started as a scamcoin, but as a jokecoin to make fun of all the scamcoins. it wasn't premined or ipo or anything else along the line because it was just meant to poke fun at all the crypto coins and scam coins. That's why it had such a good initial launch...they weren't trying to deceive anyone nor trying to make money, they were just having fun... but make money it did make them (yoda speak?)

and it did make me a lot of money also.. The only coin that has any value, are bitcoins, because those coins are the only one that can be turned into fiat currency without having to jump through hoops.. relatively speaking.. everything else is just an intermediary so that I can get bitcoins and convert them over to dollars when necessary.

and i'm rambling on to much..

I mine and dump .. that's all I do.. i'm not holding onto any altcoins at all, I sell immediately. I only hold onto bitcoins and litecoins... litecoins I only hold onto until there is a favorable conversion rate to bitcoins.

 

[KingFatty]

Doge is very special compared to other coins, because... Dogecoin is actually used for something other than trading coins.

Nearly every coin out there exists solely for speculation and trading, with nobody actually using it to conduct a transaction.

But Dogecoin can be used on huge websites, like Reddit.com, for tipping someone. So when you like their comment or reasoning, you can reward them by giving them some Dogecoin.

But have you ever conducted a transaction in any other coin? Maybe bitcoin? So Dogecoin is great because it actually went through the acceptance stage of being used by actual people to exchange things. It's not just a mere penny stock like all the other coins whose sole value is to speculate and trade for nothing but other virtual coins.

 

[Virge_]

Doge is very special compared to other coins

The value continuing it's steady downward spiral suggests otherwise.

I'm just glad I sold around 50% of what I had when it was .0022. I'll consider the rest a loss and lock them away in the unlikely chance I'm wrong.

 

[dajeepster]

But Dogecoin can be used on huge websites, like Reddit.com, for tipping someone. So when you like their comment or reasoning, you can reward them by giving them some Dogecoin.

I can do that with any coin.. if they have a wallet for a specific coin, then I can send them that coin. doge is no different than any other coin in that regard.

 

[AnonymouseUser]

The value continuing it's steady downward spiral suggests otherwise.

Do you feel the same about LTC? After all, it was @ $48 before it's downward spiral to $10.56. That's a drop of 78% from it's ATH, whereas DOGE has only dropped as much as 65% from it's ATH.

 

[wand3r3r]

Look back at any coins history and I bet you can pull out a few months during which people were declaring them basically dead and pointless etc.

 

[Virge_]

Do you feel the same about LTC? After all, it was @ $48 before it's downward spiral to $10.56. That's a drop of 78% from it's ATH, whereas DOGE has only dropped as much as 65% from it's ATH.

My personal opinion relies heavily on historical trending. LTC has a signficantly higher duration under it's belt to make these types of analysis. DOGE on the other hand is volatile in ways I would suggest borderline scary.

Don't misunderstand, I still think it has the highest potential and the best community, just that the numbers don't currently look good.

 

[taltamir]

The coin is totally not a scam guys. It is the only coin which is real money and useful. Which is why I mine and dump

...
If you actually believed in the coin you would hold not dump

 

[KlokWyze]

My personal opinion relies heavily on historical trending. LTC has a signficantly higher duration under it's belt to make these types of analysis. DOGE on the other hand is volatile in ways I would suggest borderline scary.

Don't misunderstand, I still think it has the highest potential and the best community, just that the numbers don't currently look good.

That's for sure. I bought a bit of DOGE @ 190 and then quite a bit more @ 149. Currently @ 129 on bter. I guess I'll continue to hold. For some reason LTC shot up? I'm sure it will happen to DOGE at some point here. Me being sure doesn't make me feel better though........lol

 

[IEC]

The only coin that has any value, are bitcoins, because those coins are the only one that can be turned into fiat currency without having to jump through hoops.. relatively speaking.. everything else is just an intermediary so that I can get bitcoins and convert them over to dollars when necessary.

You can trade LTC and DOGE directly to fiat as well on some exchanges. Most notably Vault of Satoshi (but they stopped doing so for US customers due to lack of response from FinCen about how to comply with anti money laundering regulations).

But BTC is king and will remain that way for the foreseeable future, so while I hold some amounts of PTS, NXT, and other so-called "Bitcoin 2.0" cryptos, all the hardware I have has been paid for by BTC --> fiat so I'm not inclined to change my heavily BTC leaning allocation any time soon.

 

[Torn Mind]

Dogecoin is an example of how demand affects exchange rates, as its former clone Cagecoin has been sitting in the dumps for a very long time. People want to use DOGE, so that's why its exchange rate is so high. It shows that "value" does depend on people thinking that there is value in the coin, and putting out a ridiculously small money supply does not remedy low demand for the currency.

 

[Virge_]

...
If you actually believed in the coin you would hold not dump

Given that I am holding and only unloaded some of my DOGE to shift to another coin I feel will spike exponentially in the next few days, I don't really think you have a clue what you're talking about.

 

[taltamir]

Given that I am holding and only unloaded some of my DOGE to shift to another coin I feel will spike exponentially in the next few days, I don't really think you have a clue what you're talking about.

I was talking to dajeepster, not you virge.

 

[KingFatty]

I can do that with any coin.. if they have a wallet for a specific coin, then I can send them that coin. doge is no different than any other coin in that regard.

Yes I agree, but the issue is that Doge has a built-in number of users that are actively using the coin as a currency, i.e., something other than just for speculation. So I should have mentioned that aspect more, how it has a following of people who will always need more of it to use for those non-speculative purposes. A built-in source of demand for people to mine more coins so they can be spent on Reddit to give people complements/tips etc. Even though any coin could be used for this purpose, the fact remains that people have already started using doge and that's some big inertia supporting that particular coin.