Cryptocoin Mining?

[slashbinslashbash]

Reading the bitcointalk thread, some people are saying it is NOT a false positive. I'm avoiding this just in case.

Well, I got the thing working finally. Shows me something like 30 days to find a chain on 3/8ths of my MBP's i7. Yeah I'll let it run for a couple hours and see if I get extremely lucky, but for the small miner, with no pools up and running, I don't see this as being an option right now.

Apparently lots of coin clients and miners (which all share extremely large amounts of code with the original BTC miners and clients) show up on virus scans as containing viruses. This is because some actual viruses have incorporated parts of the BTC miners and clients in order to run mining botnets. Which, ok, makes sense. But it also means that the mining community is pretty vulnerable: if everybody is used to virus false-positives, then we could end up with a Boy Who Cried Wolf situation.

 

[x3sphere]

Well... I set up 100 8 core AWS instances and haven't found one block in the past 2 hours

This coin is insanely hard to mine, never seen anything like it. Wonder how much it'll be worth...

 

[geokilla]

AND a 3% premine AND an IPO.

It's a scamcoin.

I'll be happily making money. Hopefully.

IPO is part of the 3%.

 

[holden j caufield]

He was one of those early hoarders, buying out all the Doge on market after launch on exchanges. Buying them at ridiculous prices like 30 or 40 satoshi.. back then, everyone rushed to sell at those prices never expecting Doge to hit 300 satoshi soon. To think that dude has 5B Dogecoin to himself..

Obviously with such a stake, he and his investors want to keep on pumping Doge hard.

My theory is that it's possible some of these exchanges are using people's funds to manipulate the market. Also fck bter.com has ripped me off of so many damn coins. I liked them because it was fast but too many damn posts on bitcointalk.com about this exchange and I didn't listen to the complaints. I thought my first 30 trades and 30 deposits and withdrawals worked so they must be fine. I'm 1btc and 500k doges poorer because bter stole my coins.

 

[IEC]

Maxcoin is no longer more profitable than VTC or DOGE, so I'm back to mining VTC and DOGE. Mining and holding on speculation they will go higher.

 

[Soulkeeper]

anyone still interested in ltc ?

 

[KlokWyze]

anyone still interested in ltc ?

Not really. Looks like DOGE is stealing all the thunder. LTC would do much better if there were some plans to market it a little more aggressively. I've got most my CC in BTC, but I've got a few DOGE as well.

I just shipped out my 7950 for an RMA. Gigabyte phone rep was a retarded troll, but he got the job done. Hopefully I get a card back next week... sigh.....

So what's the next scam coin that's coming out soon? I saw SunnyD set up a pool for AKC. Pandacoin as well... would any of these be as good as Maxcoin... that was such an obvious scam, yet so profitable for a few.... sh!t is ridiculous!

 

[slashbinslashbash]

Not really. Looks like DOGE is stealing all the thunder. LTC would do much better if there were some plans to market it a little more aggressively. I've got most my CC in BTC, but I've got a few DOGE as well.

I agree, LTC is diminishing, DOGE is taking up the scrypt coin banner. Although I do think LTC has some obvious sticking power, and it may find a permanent spot in sort of a trifecta of BTC, LTC, and DOGE being different orders of magnitude of value, like BTC = $1000's, LTC = $10's, DOGE = $0.1 or so.

Or maybe DOGE proves to be a flash in the pan, and LTC wins out eventually. Hell, if I could predict the future then I'd be rich already. But I really see interest in LTC dying.

But at this point I see LTC's only advantage as being the first mover in the scrypt coin game, and BTC has the advantage of being the first mover in the cryptocoin game period, which kind of negates that LTC advantage.

I think that eventually the cryptocoin market will hit a point where a coin really needs some kind of built-in milkshake to bring the boys to the yard. Either an alternative crypto method (MAX release makes me wonder if I shouldn't pick up an Nvidia card while they're still at MSRP, surely there will be more SHA3 coins coming out soon) or some other interesting application like Primecoin (finding prime numbers), Namecoin (decentralized DNS), Peercoin (Proof of Stake), etc.

BTW I have been dabbling in Namecoin and Peercoin, just trying to see what they are about. Short and sweet:

Namecoin, it's pretty easy to register a name for 0.01 NMC, but you have to update/renew it every 6 months or so -- no fee to do so, but requires work on your part. The .bit domain names don't actually work with stock browsers or DNS lookups, but there is a plugin for Firefox and some other alternatives.

Peercoin: Coins earn 1% per year as Proof of Stake. Requires you to hold coins for 30 days before they start earning/"minting" PoS. You have to be running a wallet or daemon in order to mint PoS. It is actually kind of like mining at very low difficulty, in that you are actually generating PoS blocks. I have not held my PPC long enough to start minting PoS yet.

EDIT: Cool article about a Doge party! http://www.theawl.com/2014/02/dogecoin-is-real-and-they-had-a-party-to-prove-it

EDIT 2: OMG this is hilarious! That is the Wall Street bull statue in NYC!

http://www.businessinsider.com/dogecoin-party-2014-2 http://imgur.com/FwpGsR3

DOGE TO THE MOON! haha

EDIT 3: Doge in 3rd place in terms of market cap!

 

[Torn Mind]

Back to mining Karmacoin. Diffculty got sent back down somehow, so I'll rake some in while I have the chance.

 

[chimaxi83]

What would it take for something like Doge to become as valuable as LTC?

 

[Majcric]

Ok guys, I waste a lot electricity and leave my PC running 24/7. Would it be worth my time to try this mining stuff with my 680? If not, what would be a good AMD starter card? I had to ask because it seems the forum is filled with mining talk these days.

 

[Torn Mind]

Ok guys, I waste a lot electricity and leave my PC running 24/7. Would it be worth my time to try this mining stuff with my 680? If not, what would be a good AMD starter card? I had to ask because it seems the forum is filled with mining talk these days.

I don't know if Cudaminer has improved such that a GTX 680 would benefit, but past attempts at mining on a GTX 680 resulted in about 320-350 Khashes/s, which is pretty bad relative to a 7870, which can get around that after tweaking and underclocking. Even a 7850 can get 300 Khashs at 860/1200. You can try with Cudaminer first, tweak until you can't seem to get any more, and then decide from there...

 

[slashbinslashbash]

What would it take for something like Doge to become as valuable as LTC?

A lot, really. At present, the difference in price (USD) is something like 4 orders of magnitude (rough numbers, DOGE = $0.002, LTC = $20, so LTC = 10,000x DOGE). I don't know that any coin has ever risen that much in value versus another after the initial creation period. It seems that values are pretty well set by the time a coin hits the broader markets, based largely on mining difficulty, block rewards, block timing, etc.

DOGE is the same scrypt mining algorithm as LTC. So no difference in inherent difficulty. LTC started at 50LTC per block, block rate of 2.5 minutes = 200 LTC mined per 10 minutes. DOGE started at 0-1,000,000 DOGE per block (average 500,000), block every 1 minute = 5,000,000 DOGE mined per 10 minutes. This is a difference of 25,000x. Which is not all that different from the current price difference.

I'm not saying that the price ratios can't vary outside of this general range, but I think it would be very hard for it to do so. Of course everything is about supply and demand, but all else being equal, there are 25,000 DOGE being generated for every 1 LTC. So the "supply" side of the equation is very skewed.

So I really doubt that value-wise, DOGE could ever catch up to LTC. However, in terms of market acceptance and penetration, it could overtake it.

Hmmmm, figuring out this math and writing all of this down, makes me think I should trade some DOGE for LTC. Unless I'm wrong about something?

 

[wand3r3r]

It's not just about ratios etc. and while I don't foresee dogecoin hitting $20/ea simply due to the need for a trillion $ investment in dogecoin alone to hit those kind of numbers. However I disagree with the above statement:
" I don't know that any coin has ever risen that much in value versus another after the initial creation period."

The (couple) major coins are 1000 or even 10000x the initial values. BTC's first known transaction was 5000 or 50000 coins for $5. I'm not sure on LTCs initial transaction prices but it certainly wasn't in $/coin, so it too has risen several magnitudes above the initial creation period.

The statement is more applicable for the multitudes of altcoins which are appearing daily, and to those I agree. If the market likes a coin, human nature knows no bounds (or few bounds ). The hype and craze can do things nobody has predicted (including falling to 0 essentially overnight).

----

About the 680 question, you can look for SHA3 coins which are apparently a little better than Scrypt coins on cudaminer. If electricity costs much of anything you are better off switching to an AMD card, but not at the inflated prices imo. The 2-300 kHash/s can earn some coins and if you hit the right coin it can actually make a few $.

Basically if electricity is free or very cheap it's worth it. You can try it out as a hobby for a bit and see if it catches your interest.

 

[x3sphere]

Not really. Looks like DOGE is stealing all the thunder. LTC would do much better if there were some plans to market it a little more aggressively. I've got most my CC in BTC, but I've got a few DOGE as well.

I think so too. Top LTC holders are rich, yet I see very little promotion efforts. It's like they expect the small guys to do all the work. I have a feeling a lot of the bigger LTC holders got in BTC early as well so it is more advantageous for them to just keep eyes on Bitcoin, given how far it has come now.

DOGE on the other hand is young, the feeling of getting in early is still there, and it comes at a time way more people are aware of crypto currencies. I think more are willing to rally behind it because of that. Distribution is also probably way better.

I think DOGE has a shot at surpassing LTC in market cap. I wouldn't expect it to hit anywhere near $1 a coin anytime soon though unless Bitcoin skyrockets also.

 

[SimianR]

Maxcoin is no longer more profitable than VTC or DOGE, so I'm back to mining VTC and DOGE. Mining and holding on speculation they will go higher.

Yeah. I'm actually surprised that VTC is trading for so little considering it has so much potential and it had a fair/stable launch compared to maxcoins joke launch.

 

[ThackerSS]

So I installed Stilts Bios on my 290's and 290x.

On the 290x, after some slight tweaking I went from 885 khash to 949 stable. Also of note if I bump the voltage way up I can get 1.04 M hash out of the thing.. but temperatures skyrocket.


On my 2 290's, I went from 890khash to 935 stable on both.

Decent improvement I think.

 

[SimianR]

So I installed Stilts Bios on my 290's and 290x.

On the 290x, after some slight tweaking I went from 885 khash to 949 stable. Also of note if I bump the voltage way up I can get 1.04 M hash out of the thing.. but temperatures skyrocket.


On my 2 290's, I went from 890khash to 935 stable on both.

Decent improvement I think.

Interesting. On the 290's - is that at 1000/1500 (core/mem)? I have an R9 290 MSI reference card that typically couldn't run at 1500 memory stable, sort of curious as to whether the bios would do anything for me.

 

[wand3r3r]

I think so too. Top LTC holders are rich, yet I see very little promotion efforts. It's like they expect the small guys to do all the work. I have a feeling a lot of the bigger LTC holders got in BTC early as well so it is more advantageous for them to just keep eyes on Bitcoin, given how far it has come now.

DOGE on the other hand is young, the feeling of getting in early is still there, and it comes at a time way more people are aware of crypto currencies. I think more are willing to rally behind it because of that. Distribution is also probably way better.

I think DOGE has a shot at surpassing LTC in market cap. I wouldn't expect it to hit anywhere near $1 a coin anytime soon though unless Bitcoin skyrockets also.

Yeah, although if BTC skyrockets, people might be selling doge to get BTC and drive the price down. It's a balancing act.

I don't see anything special about LTC. Doge has a community driving it, which will bring it somewhere, of course it can stagnate eventually too. For a while LTC was the hot item but it doesn't really have anything going for it anymore except those who are invested in it already.

As of this moment I do expect a trio BTC/LTC/DOGE to be the prevailing coins, but this could change with the winds of time. Right now

 

[ThackerSS]

Interesting. On the 290's - is that at 1000/1500 (core/mem)? I have an R9 290 MSI reference card that typically couldn't run at 1500 memory stable, sort of curious as to whether the bios would do anything for me.

290'S are at 1050/1450 and the 290x is at 1000/1375

 

[Virge_]

Nope.

The current price drop is from people "DDOSing" the exchanges with the "bug" that MtGox decided to publicize to try to deflect what's really ailing their (MtGox's) real issues.

Mining itself will remain alive and well until Bitcoin falls under probably $300.

Just so you have a heads up, I'm turning between 15-30 mH/s of my hashing power to your pool in six hours for AKC.

 

[SunnyD]

Just so you have a heads up, I'm turning between 15-30 mH/s of my hashing power to your pool in six hours for AKC.

MH/s?

Didn't you JUST get into mining? That'd be something like 15 to 30 R9 290X's worth of mining rigs.

 

[SunnyD]

I'll be happily making money. Hopefully.

IPO is part of the 3%.

His story keeps changing as the BCT thread goes. Initially it was premine and IPO. Then it was "oh, the premine goes TO the IPO". Then it was "The IPO was closed a while ago and all the IPO investors are already set. You'll understand if none are named for the sake of privacy." Why announce an IPO if the IPO happened before the coin announce anyway?

I'm even more thoroughly convinced it's a scamcoin with every post he makes.

But like I said, odds are it will be a ridiculously successful launch and make several people rich.

 

[slashbinslashbash]

However I disagree with the above statement:
" I don't know that any coin has ever risen that much in value versus another after the initial creation period."

The (couple) major coins are 1000 or even 10000x the initial values. BTC's first known transaction was 5000 or 50000 coins for $5. I'm not sure on LTCs initial transaction prices but it certainly wasn't in $/coin, so it too has risen several magnitudes above the initial creation period.

I know, I was talking about one coin versus another coin, not to fiat. Like, I don't think that LTC has ever varied hugely versus BTC. Looking at one chart that I found, it looks like LTC has varied from between roughly 0.003BTC to 0.03BTC. Which, granted, is an order of magnitude of variance, but when you look at crypto price movement then that's a actually a pretty constrained range.

And again, I am obviously ignoring the pump-and-dumps, or the initial periods when a coin is new to the market and it falls flat or goes wild for a couple of weeks. I'm saying that once a coin finds its place, it kinda tends to stay there, plus or minus an order of magnitude. There may be exceptions, and DOGE may very well prove to be an exception, but overall I think there's kind of a general price stability among coins, relative to each other.

MH/s?

Didn't you JUST get into mining? That'd be something like 15 to 30 R9 290X's worth of mining rigs.

Didn't you see his badass rig setup a few days ago?

http://forums.anandtech.com/showthread.php?p=36048916&highlight=#post36048916

 

[KlokWyze]

Just so you have a heads up, I'm turning between 15-30 mH/s of my hashing power to your pool in six hours for AKC.

Between 15-30? That's a HUGE difference. lol

@ SunnyD : Also would like to confirm the AKC thing. When should I point my paulty 1.4 mH at your pool.....?

Also, confirming that this is a scam coin. Don't care. It's a gamble. :biggrin: