Cryptocoin Mining?

[thilanliyan]

I was also running I20 for the longest time, but realized the reject rate was slightly lower with I18, plus if it puts less stress on the card, I'm all for it since I don't need to run the cards at the ragged edge.

 

[Binky]

It's a bug with cgminer and the 290 cards. It's known but probably won't be fixed since cgminer devs concentrate on ASICs now.

The sgminer people may get that sorted out, if they haven't already. Sgminer is just a fork of cgminer 3.7.2 with a few minor tweaks. You even run it the exact same way, without any scrypt commands.

 

[Elfear]

Mining LTC I don't have any problem running I = 20. I get reject rates right around 1% for both cards. Ever since I started mining at UltimateCoinPool though my reject rates jumped to around 9%. I tries lowering my intensity to 18 the other day and my hash rate went from 830Kh/s to 815Kh/s. I'll have to leave it like that for awhile and see if my reject rate drops enough to justify the decrease in hashing power.

 

[thilanliyan]

The sgminer people may get that sorted out, if they haven't already. Sgminer is just a fork of cgminer 3.7.2 with a few minor tweaks. You even run it the exact same way, without any scrypt commands.

Good to hear. Never heard of sgminer before so thanks for the heads up.

 

[OCGuy]

Hearing of some of these "currencies" is interesting. I thought for sure "dogecoin" was something made up by 4chan.

I mean if you have some extra GPU cycles and cheap power, it doesn't hurt anything. But some of this is silly.

 

[nwo]

I mean if you have some extra GPU cycles and cheap power, it doesn't hurt anything. But some of this is silly.

I agree, it may be silly, but it's way more profitable (to mine) than the big names out there such as BTC/LTC.

 

[OCGuy]

I agree, it may be silly, but it's way more profitable (to mine) than the big names out there such as BTC/LTC.

Have at it.....I was speaking more on the whole idea itself, not the people who are doing the mining.

Although I still believe it is much better to pick one that has a chance to grow, and instead of buying GPUs, just purchase the actual coins. Unless of course you are in at the extreme beginning and can just create coins like nothing.

 

[KlokWyze]

This was the java client? You may want to disable java in the browser since it's the most targeted way for malware to get into your PC.

I tried it for a bit but didn't get any coins, and from my understanding you can't mine coins without owning coins (and those with more coins reap more rewards). It's essentially a pyramid scam and I personally hope it fails simply due to the audacity that the devs (and their buddies) took all the coins themselves and spread them out as they saw fit to lure in more people. With my luck it'll probably be the next bitcoin, however I hope they don't get away with such a clear pyramid scam. (Correct me if I'm wrong, I haven't wasted my time researching it further once I found out how it works)

You know what. I completely agree with you and f1sherman, BUT the relative high level of scamminess a coin exudes doesn't preclude it from raising in value exponentially. Human beings are emotionally reactive creatures. That being said.... I bought in @ like .000085, but it's down. Don't care really... as I want to leave this in and forget about it. I must admit, that even though this is the most heavily developed coin other than BTC, it looks like a complete shit product. *Shrug*, it's a gamble. I only put in a fraction of my BTC.

I do not use the integrated wallet miner. I use primeminer_v08_rc1
I also do not solo mine. I use http://beeeeer.org/

If you need additional help, here is my bat file:

primeminer_x64.exe -poolip=54.200.248.75 -poolport=1337 -pooluser=YOUR WALLET CLIENT ADDRESS -poolpassword=PASSWORD -genproclimit=4 -poolfee=1
pause

The only thing you need to edit is enter the poolip which I have above, poolport is the same, and make sure you enter in your wallet address under pooluser. Pool password stays PASSWORD. Lastly, genproclimit tells it how many cores to use so for a quad core I use 4, for a quad with HT I usuaully use 7 because 8 actually gives me the same or slightly lower primes/s.

Awesome. I'll test how much extra wattage is consumed with my kill-a-watt before setting up on all my other miners. Some of my rigs are pulling close to capacity for their power supplies.

Cheers dude.

 

[KlokWyze]

Have at it.....I was speaking more on the whole idea itself, not the people who are doing the mining.

Although I still believe it is much better to pick one that has a chance to grow, and instead of buying GPUs, just purchase the actual coins. Unless of course you are in at the extreme beginning and can just create coins like nothing.

Agreed. I was mining Foxcoin all night and it might be a little more profitable. Kind of hard to tell if I'm not pointing everything at it for a specific period of time, but I can just purchase at an exchange. So, just mine DOGE, trade for BTC and than trade for FOX. Done. Let it sit and forget about it.

Or really, what your'e saying: Buy BTC and just trade for whatever. The only issue with that is that it is harder to trade for coins that are super early. Those are easier to get by mining.

 

[geokilla]

This is so bad. I stopped mining CAAT while I went to school, and now network hash rate jumps skyhigh. Ugh I just missed out on the biggest profit I could have ever made.

 

[T_Yamamoto]

Agreed. I was mining Foxcoin all night and it might be a little more profitable. Kind of hard to tell if I'm not pointing everything at it for a specific period of time, but I can just purchase at an exchange. So, just mine DOGE, trade for BTC and than trade for FOX. Done. Let it sit and forget about it.

Or really, what your'e saying: Buy BTC and just trade for whatever. The only issue with that is that it is harder to trade for coins that are super early. Those are easier to get by mining.

I stopped mining Foxcoin. I have about 100 from mining a couple hours, but I switched back to Doge because I am able to actually buy stuff with it.

I just bought a game I've always wanted to play, Garry's Mod, for 500 dogecoin which is 80 cents.

 

[slashbinslashbash]

TBH the entire alt-coin trade is pyramid based. There is no inherent or objectively based demand. Real catalyst are few and none.

What you do is you buy this hot potato and you hold it till it hopefully goes up, and then you sell it to another victim who has the same idea like yourself;
namely he hopes to sell it to another victim for even more BTC.

Of course someone always ends up with a black eye, either having his funds locked up in some downtrend spiraling Schmuck-coin, or bailing out with loss.
You'll notice these guys in their appropriate coin threads. They are the one constantly screaming:

EVERYONE HOLD!!!

The whole thing is very interesting. What's intriguing to me is how BTC is the mediator of all of these other coins. For most people around the world, converting from their government fiat money to any kind of alt-coin (without mining) means they have to buy BTC first. And conversely, anybody who holds any kind of alt-coin will probably have to filter it through BTC in order to cash out.

So you have this constant demand for BTC from the altcoin miners. On the other hand, these people basically take their BTC and convert it to cash immediately. So this is kind of a whipsaw effect on BTC, it raises the price of BTC in terms of altcoins, but it lowers it in terms of fiat.

And who are the people who want to straight out buy BTC with fiat? Speculators/"investors" who want to get into the game and think/hope that BTC is going to go up relative to fiat. I hope these people never go away, but seems like it would be easy for them to do so, or for that market to become saturated.

I also wonder what those who hold BTC see in the altcoins that makes them so eager to trade for them. Also I wonder if this is effectively putting a fiat price cap on BTC, since the price is set at the margins, and miners who sell BTC for fiat on a regular basis in order to earn their ROI are right there providing a large portion of the BTC to fiat market.

For those who are mining, how much of your earnings do you cash out? I assume you put some proportion aside, and cash the rest of it out. Or maybe you cash out everything until you make back your initial hardware investment, and after that you hold on to your coins. I'm curious what others' strategy is here. I haven't cashed out anything yet, I'm waiting for BTC to hit $1000+ again, hopefully I won't be waiting forever like a moron

 

[Erenhardt]

Just a reminder:
Make a safe copy of your wallets.
I didn't. Now I have paperweight with 100 000+ doge coins in it... ;/

 

[Torn Mind]

This is so bad. I stopped mining CAAT while I went to school, and now network hash rate jumps skyhigh. Ugh I just missed out on the biggest profit I could have ever made.

I notice Kitteh(Catcoin's bastard child) before its surge but made two mistakes. Didn't keep on mining it and I blew away the 200000 coins I made in a day make when difficulty was around 1.

 

[njdevilsfan87]

Just a reminder:
Make a safe copy of your wallets.
I didn't. Now I have paperweight with 100 000+ doge coins in it... ;/

Hold onto it. You never know, it might be worth trying to pay to have it recovered in the future.

 

[Erenhardt]

Hold onto it. You never know, it might be worth trying to pay to have it recovered in the future.

Yea, that is why I didn't RMA it.
Actively looking for WD10EZEX PCB

 

[Torn Mind]

Hearing of some of these "currencies" is interesting. I thought for sure "dogecoin" was something made up by 4chan.

I mean if you have some extra GPU cycles and cheap power, it doesn't hurt anything. But some of this is silly.

Any sort of currency is actually quite silly once you think about it. Humans have used seashells and other things as "real" currency. Yes, even using gold means that gold is not being used for more useful purposes practically. With this in mind, the exoticness of these virtual currencies just goes away. But currencies beat the barter system in many ways, which is why humans use it.

 

[T_Yamamoto]

Dogecoins are actually legit

We have helped send Indian athletes as well as the Jamaican bobsledding (dogesledding) team to Sochi

 

[Erenhardt]

Just a reminder:
Make a safe copy of your wallets.
I didn't. Now I have paperweight with 100 000+ doge coins in it... ;/

To give it more background:
its only a small part of what I mined, so I'm not totally screwed. I exchanged coins to real world currency getting back 50% of what I paid for my hd7870.
The HDD contains coins worth additional 100% of what I paid for my card, if only...

I should have gone for 7950 instead - would heat my room better now, when we are way below freezing point outside ;/

 

[nwo]

In case anybody cares, here is a follow up to the primecoin miner issue I mentioned beforehand:

I have now narrowed down the issue to the fact that primecoin miner decreases the hashrate performance of any card (in this case 7970) mining on two threads (-g 2).

I put my 7970 in my other PC with the 7950 and Haswell i7. Leaving primecoin miner running, I get the same performance hit I was getting on my sandy bridge build.

I have reconfigured my 7970 to run on 1 thread and I have OCed my card pretty much close to its limit in order to keep my hashrate comparable to what I was getting with 2 threads.

I am using:
--thread-concurrency 40960 -g 1 -I 20
1050/1600 @ stock voltage getting 610kH/s with the display running from the 7970. Beforehand, I was running the typical 8192 TC, -g 2 and -I 13 @ 975/1575. I would get 660 when I was AFK, and around 600-620 when I was using the PC.

 

[thilanliyan]

Just a reminder:
Make a safe copy of your wallets.
I didn't. Now I have paperweight with 100 000+ doge coins in it... ;/

6 backups on different media types ftw.

 

[note235]

my ssd pcb was fried
$1500-2400 to recover.

8000000 tips
34 rpc
900000 grain

im keeping it in case they skyrocket lol

 

[nwo]

Ran my 7870s @ 18 Intensity for about 12 hours. Getting less than 2% reject rate on fast-pool mining doge. Seems like lower intensity is definitely the way to go. I was getting as high as 5% with 19 intensity. At which rate, the extra 10kH/s is actually a loss not a gain.

 

[T_Yamamoto]

I'm making like 100 doge on each block we solve on our pool (fluctuate but averages to 100)

 

[wbynum]

Ran my 7870s @ 18 Intensity for about 12 hours. Getting less than 2% reject rate on fast-pool mining doge. Seems like lower intensity is definitely the way to go. I was getting as high as 5% with 19 intensity. At which rate, the extra 10kH/s is actually a loss not a gain.

Cool. I've also bumped mine up to I18 from I17. Seems to be doing pretty good. I think half the people on the forums that post big numbers with an I20 value never even pay attention to the rejects. It's apparent when you see screen shots with 5%+ rejects in cgminer (I'm guilty of it).

Question for anyone. I've seen mention that the work unit stat is just as important as the had rate. Can anyone explain work units and what numbers one should be looking for?

Side note: For anyone bringing up dedicated miners you should try out SMOS or BAMT if you haven't. They are linux distros with all the software ready to go. I have used SMOS for my two headless 7870 builds. Basically just flash to a usb drive and boot from it. SMOS is just a tweaked version of BAMT. One note with SMOS, by default the image starts mining with a pre-configured LTC pool account. Kind of sneaky.