Cryptocoin Mining?

[Brekyrself]

Everyone also needs to stop thinking of "coins" as just a currency but what the technology can be used for. The coin(s) that "win" will go way beyond confirmation times and security.

See Keyhotee (a major evolution of bitmessage)
http://invictus-innovations.com/keyhotee/

See Bitshares
https://bitsharestalk.org/index.php?board=3.0


Proof of Work mining may also disappear completely as security is no longer an issue with Proof of Stake. POW now a days simply allows for distribution of coins...

 

[IEC]

Anyone else see Doge network hash rate jump from 35 GH/s to 90 GH/s?! What the heck is going on?

Edit: Now back to 38 GH/s. Not sure what happened as I saw a brief spike to 90 GH/s for two pools.

 

[Silverforce11]

That is some SERIOUS firepower.. scary to think what such a setup entails!

 

[daxzy]

Let's have fun with numbers (feel free to correct me).

380 MH/s is:

@ 700 KH/s per undervolted 7970 or overclocked 7950 is 543
@ 750 KH/s per overclocked 7970 is 507
@ 850 KH/s per standard R9-290 is 448

A general estimate is 2.5 KH/s per Watt, so that guy's pulling 152 KW. Assuming 10 cents per KWHr, that's $364 in electricity per day, or about $11K/month in power.

 

[IEC]

Yeah, but 9,300,000 DOGE per day @ 0.0000007 would yield ~6.5 BTC per day which is ~$4700 USD per day gross return. Assuming he sold everything as he mined and sold BTC immediately. And that user has been at that MH/s level for quite some time so they probably got in early enough to make much more in profits than they are now.

They're probably leasing a bunch of 290s and running them in a warehouse.

Of course, the other possibility is it is a multipool type user...

 

[Silverforce11]

Well, we've seen pictures of dudes with 108 * R290 setups with special ventilation.. but this is on another level.

It's not just Doge, its a lot of other altcoins where he could be making over $100,000 profit a month right now. If this dude jumps onboard any new altcoin, he would be absolutely filthy rich when he hits it at low difficulties.

It's mining on an industrial scale.

 

[blastingcap]

Anyone with that much hash power would single-handedly drive up a low-difficulty coin's difficulty and thus compete with himself. If nobody else joins in or the coin goes to zero value like most do, he will have a fat power bill to show for it. The VAST majority of alt-coins are not profitable to mine even if you get in early because they are parts of pump and dump schemes, oftentimes pre-mined or with people who got in earlier than you did. Then when you have a pile of alt-coins, where are you going to exchange it? It's not easy to dump a coin when no exchange lists it, and while you are waiting for an exchange to list it, it may tumble in value. It's not always a bad idea to mine an alt-coin early but it's definitely highly risky.

 

[Silverforce11]

Gets massive pile of coins, difficulty spikes, go to another coin, difficulty drops etc. Lots of coin hoppers do it, nothing new.

I was just shocked at the kind of GPU grunt some people possess.

 

[monstercameron]

i have been cudamining LTC at ~70 kH/s for about 5days now and I am only at 0.1LTC why is my gtx650 so slow?

 

[nastyemu]

nice thread! new to the whole crypto currency thing. i have to admit, after reading through some of these threads and seeing the power some people are putting out i'm feeling a little overwhelmed. so far i've managed to pick up a 5850 and a 6870 for a total of $130 and total output of 670kh-ish. i had plenty of spare parts to build a rig to run them and I have a friend who has free electricity that I can drop it off at.

managed to nab an r 280x on amazon today for $300 when i randomly refreshed their inventory and it showed a few in stock. hopefully i'll be able to pump up what feels so far like a slow crawl so far!

 

[IEC]

i have been cudamining LTC at ~70 kH/s for about 5days now and I am only at 0.1LTC why is my gtx650 so slow?

That's as good as it gets with a GTX 650.

https://litecoin.info/Mining_hardware_comparison

 

[Freaksterz]

Would someone be able to send some NXT my way to get started?
Address: 12485656647733091448

 

[Silverforce11]

Well Catcoin is trading on CoinedUp for half a day now, and so far its reaching the same profitability to mine as Doge, which has consistently been the top scryptcoin earner per kH/s.

Cat and Doge to the moon!

ps. Never underestimate the appeal of cute, just look at Hello Kitty!

pss. Get into Cat while its priced low, this is a crazy fast jump in value for a new coin. 21M capped compared to Doge's 100B cap..

 

[IEC]

Well Catcoin is trading on CoinedUp for half a day now, and so far its reaching the same profitability to mine as Doge, which has consistently been the top scryptcoin earner per kH/s.

Cat and Doge to the moon!

ps. Never underestimate the appeal of cute, just look at Hello Kitty!

pss. Get into Cat while its priced low, this is a crazy fast jump in value for a new coin. 21M capped compared to Doge's 100B cap..

Yes, and only 1270 blocks to go until difficulty goes stupid high meaning either the coin will crash or the value will go... UP

 

[chimaxi83]

But... but... what about kittehcoin? Lol jeez, can't keep up with these meme coins. I'm still on doge and feel like an old timer heh.

 

[hawtdawg]

can someone explain why I had 250 nxt coins a couple of days ago, yet now I no longer have them?

 

[IEC]

can someone explain why I had 250 nxt coins a couple of days ago, yet now I no longer have them?

Check your account number here (blockchain history):
http://87.230.14.1/nxt/nxt.cgi?action=1

Either you 1) mistyped your password and got a different account # or 2) your client is out of date and/or blockchain is borked.

If #2, redownload the latest client, backup your old client files, then extract the latest client and let it redownload the blockchain/transactions.

 

[Binky]

can someone explain why I had 250 nxt coins a couple of days ago, yet now I no longer have them?

Refresh the page (login again).

 

[KentState]

i have been cudamining LTC at ~70 kH/s for about 5days now and I am only at 0.1LTC why is my gtx650 so slow?

IMO it's a waste to mine on Nvidia consumer hardware. AMD users are getting 500-600kh/s on a similarly priced graphics card (MSRP before the run on 7950s).

 

[philipma1957]

mining ltc at wemineltc.com I can't connect to a pool I have 3 pcs and 2 were power down they now say they are hashing and burn power but no shares are earned. I am kind of new with ltc just about 1 month in to it. any reason why my guiminer reads 600kh my msi afterbruner reads power used. but I earn no shares?

am I being misdirected and mining for some one else or is the server full?

 

[IEC]

Your cgminer should have A: ###### R: #### HW: 0 WU: ###/m I: <intensity> in the GPU line.

If you are getting a lot of "HW" that means your settings are wrong and your hardware is failing to calculate shares. If you have a lot of "A" (accepted) shares but you aren't getting credited, make sure your username and workername/pass are correct.

 

[UNhooked]

Is there any advantage to running a system on Linux as opposed to windows?

Sent from my Lumia 900 using Board Express

 

[IEC]

yes, you can use cheap USB flash drives to boot

 

[UNhooked]

Sorry I meant in hashing output? Does a Linux rig tend to put out more hashes per second as opposed to a window rig? I have got spare hdds lying around so was thinking of building a dedicated mining rig with a corsair 540

Sent from my Lumia 900 using Board Express

 

[philipma1957]

Your cgminer should have A: ###### R: #### HW: 0 WU: ###/m I: <intensity> in the GPU line.

If you are getting a lot of "HW" that means your settings are wrong and your hardware is failing to calculate shares. If you have a lot of "A" (accepted) shares but you aren't getting credited, make sure your username and workername/pass are correct.

thanks I will check