Cryptocoin Mining?

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wbynum

Senior member
Jul 14, 2005
302
0
0
X11/X13 net profits using the Nicehash multi-algo mining pool has been around $4 per day for my 9 7870/270 setup. And this is with my cheap Texas electricity (9 cents per KW/hr) and mining in the garage (i.e. no air conditioning). So sad. Was going to try and build a patio enclosure for the remaining cards I have (couple 290's, couple 7950's, etc) but just not worth the trouble at this point.
 

dajeepster

Golden Member
Apr 15, 2001
1,974
16
81
1. There is no such thing as a country with absolute freedom of speech, and in most there is not even a semblance of it

2. I never said it was illegal to talk about it (otherwise my own talk of it would have been illegal). don't put words in my mouth. I explained why it would be illegal to DO it.

and in what part of my post did I put words in your mouth?... why don't you keep it on topic instead of attacking others?

but here us what you said
other than illegally using Anand's name
, on which I said it is not illegal to talk about ideas.

so please point out where I put words in your mouth.
 

Elfear

Diamond Member
May 30, 2004
7,126
738
126
and in what part of my post did I put words in your mouth?... why don't you keep it on topic instead of attacking others?

but here us what you said , on which I said it is not illegal to talk about ideas.

so please point out where I put words in your mouth.

You misinterpretted his post. He said that if someone were to develop an "Anandcoin" they could get into potential legal problems. He wasn't saying the legal problems would come about because we were discussing the idea, only if someone took action and created an altcoin with Anand's name in it.
 

KingFatty

Diamond Member
Dec 29, 2010
3,034
1
81
X11/X13 net profits using the Nicehash multi-algo mining pool has been around $4 per day for my 9 7870/270 setup. And this is with my cheap Texas electricity (9 cents per KW/hr) and mining in the garage (i.e. no air conditioning). So sad. Was going to try and build a patio enclosure for the remaining cards I have (couple 290's, couple 7950's, etc) but just not worth the trouble at this point.

Hmm can you somehow determine what your total hashrate is to arrive at your $4/day? I'm wondering if it's possible to normalize into something like X bitcoins per day per megahash (a popular metric for scrypt-based coins, but I understand the X11/X13 will use a different metric for hashrate, which we'd also compensate for).
 

dajeepster

Golden Member
Apr 15, 2001
1,974
16
81
Hmm can you somehow determine what your total hashrate is to arrive at your $4/day? I'm wondering if it's possible to normalize into something like X bitcoins per day per megahash (a popular metric for scrypt-based coins, but I understand the X11/X13 will use a different metric for hashrate, which we'd also compensate for).

www.trademybit.com does a normalization to scrypt.
 

taltamir

Lifer
Mar 21, 2004
13,576
6
76
and in what part of my post did I put words in your mouth?... why don't you keep it on topic instead of attacking others?

Asking you to stop putting words in my mouth is not a personal attack

but here us what you said
other than illegally using Anand's name
, on which I said it is not illegal to talk about ideas.

so please point out where I put words in your mouth.

Either you were putting words in my mouth (implying I am saying that it is illegal to talk about ideas)

Or you were making random unrelated statements that have nothing to do with the discussion. (saying its not illegal to talk about ideas without implying anything at all and without it having any connection whatsoever to the discussion in any manner).

Those are the only two possibilities. I went with the one where you are making a coherent argument rather then the one where you are randomly making nonsensical statements unrelated to the discussion. I apologize if I was wrong
 
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dajeepster

Golden Member
Apr 15, 2001
1,974
16
81
Asking you to stop putting words in my mouth is not a personal attack



Either you were putting words in my mouth (implying I am saying that it is illegal to talk about ideas)

Or you were making random unrelated statements that have nothing to do with the discussion. (saying its not illegal to talk about ideas without implying anything at all and without it having any connection whatsoever to the discussion in any manner).

Those are the only two possibilities. I went with the one where you are making a coherent argument rather then the one where you are randomly making nonsensical statements unrelated to the discussion. I apologize if I was wrong

i quoted what you said.. if you go back to my post that quoted you, it also linked your post where you said it... don't blame someone else for what you said. if you click on that little greater than symbol (it's a link) next to your name in the quote, it takes you to the post that you were quoted from.
 
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taltamir

Lifer
Mar 21, 2004
13,576
6
76
i quoted what you said.. if you go back to my post that quoted you, it also linked your post where you said it... don't blame someone else for what you said. if you click on that little greater than symbol (it's a link) next to your name in the quote, it takes you to the post that you were quoted from.

I am reading this post, but I don't seem to find an actual point or argument. are you actually trying to say something?

EDIT: Ok, I think I got it. I think you might be insinuating a point. Not making a point, you completely failed to make one, but I am going to put words in your mouth (despite not modifying your quote in anyway) and assume what you are trying to insinuate using completely average deductive reasoning.
So, I think you are arguing that since you made a quote without modifying the text within the quote box, that all insinuations, deductions, and conclusions you posted immediately afterwards, even blatantly false strawman ones, don't actually count.

EXAMPLE
person2 said:
person1 said:
I just got a mohawk haircut, it looks pretty
You anarchists should stop advocating the teardown of government
Person2 is implying that the first one is an anarchist, then he puts words in the mouth of person1 (the claim that person1 advocates the teardown of government).
This is done despite the fact that person2 made a 100% unmodified quote of person1's post.
 
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dajeepster

Golden Member
Apr 15, 2001
1,974
16
81
but I am going to put words in your mouth

Were you not just accusing me of that when now you just did that? Isn't that "the pot calling the kettle black"..

using completely average deductive reasoning.
and that would be considered a personal attack, though not a harsh one.

you made a quote without modifying the text within the quote box
yes, because that is what a quote is..... without modifying the words.

i did not write down something differently and say that it was quoted from you, i quoted you and then commented on it.

that is something that you have done before if you follow the links back from the quote below.
...
If you actually believed in the coin you would hold not dump

i didn't make anything up.. i quoted you and made comments on it pertaining to the quote

and only you would think a mohawk haircut was pretty (that's a joke)
 

chimaxi83

Diamond Member
May 18, 2003
5,456
61
101
Wow, you two need to get a room. Here I am thinking something new and/or exciting has happened in crypto.
 

KingFatty

Diamond Member
Dec 29, 2010
3,034
1
81
Any predictions on the effect of the Govt. auction of the seized coins?

I predict bitcoin value will rise. The reason is it seems the sophisticated entities will want the coins for using them legitimately, and that will bring more customers/demand overall in the long term. But in the short term, the auction could have a dumping effect onto the market supply, where these coins were previously locked up out of circulation. So short term, BTC price will fall. Summary: hold until the auction gets near, then dump your coins before the auction, and re-buy right after the price dips, profit!
 

blastingcap

Diamond Member
Sep 16, 2010
6,654
5
76
Any predictions on the effect of the Govt. auction of the seized coins?

I predict bitcoin value will rise. The reason is it seems the sophisticated entities will want the coins for using them legitimately, and that will bring more customers/demand overall in the long term. But in the short term, the auction could have a dumping effect onto the market supply, where these coins were previously locked up out of circulation. So short term, BTC price will fall. Summary: hold until the auction gets near, then dump your coins before the auction, and re-buy right after the price dips, profit!

There are institutional investors that do not like buying on the exchanges due to how they move the market so much. Those institutional investors will be all over the govt auction for BTC which I heard will be sold in something like 7 pieces. This won't do much either way on the exchanges, so I expect prices to remain flat.
 

dajeepster

Golden Member
Apr 15, 2001
1,974
16
81
There are institutional investors that do not like buying on the exchanges due to how they move the market so much. Those institutional investors will be all over the govt auction for BTC which I heard will be sold in something like 7 pieces. This won't do much either way on the exchanges, so I expect prices to remain flat.

9 blocks of 3,000 bitcoins with the remaining bitcoins of less than 3000 in a block. So a total of 10 blocks (pieces)

http://www.usmarshals.gov/assets/2014/bitcoins/
 

Mark R

Diamond Member
Oct 9, 1999
8,513
16
81
Can anyone confirm that the bitcoin mining rewards are being changed?

I heard that the money supply is being capped at 21 million, whereas it used to be infinitely inflating.

Of course, as far as the general public knew, it was supposed to be capped at 21 million, but it took an extremely close examination of the code to realise that this wasn't the case.

So, not only was the "feature" very, very difficult to spot; Satoshi's coding was so clever, it actually looked like a coding accident.
 

pandemonium

Golden Member
Mar 17, 2011
1,777
76
91
Yeah, that's hilarious. Anyone that works in any type of office knows how important that BCC field is for maintaining anonymity among a mixed company of recipients.
 

suklee

Diamond Member
Oct 9, 1999
4,575
10
81
I occasionally get business emails that are like that, with a huge list of random addresses in the CC field. Instant delete. c'mon, if you're gonna spam people, at least have the courtesy to do it properly! :sneaky:
 

taltamir

Lifer
Mar 21, 2004
13,576
6
76
Can anyone confirm that the bitcoin mining rewards are being changed?

I heard that the money supply is being capped at 21 million, whereas it used to be infinitely inflating.

Bitcoin has been capped at 21 million coins since day 1.

However, those 21 million coins are infinitely divisible.

That being said, bitcoin is inflationary as new coins are minted. It will only start deflating in several decades when all the coins get mined out
 

Mark R

Diamond Member
Oct 9, 1999
8,513
16
81
Bitcoin has been capped at 21 million coins since day 1.

Ah. I found it on another forum.

Bitcoin (prior to version 9.2) did have an infinite money supply. The mining would taper as it has been doing, but after a period of time would restart back to the beginning, generating another 21 million coins, then tapering, then generating another 21 million, for ever.

Bitcoin 9.2 fixes this. I have confirmed the original behavior and new behavior in the source code.

This doesn't seem to have made much impact. Interestingly, the bitcoin developers announced the change to this feature on April 1st, in a ludicrously tongue in cheek protocol change document (number 42), and as such the protocol change article was filled with 42 jokes among others.

I thought this was all a hoax, until I checked the source code. It was real!

Bitcoin improvement proposal #42
 

Attic

Diamond Member
Jan 9, 2010
4,282
2
76
Bitcoin has been capped at 21 million coins since day 1.

However, those 21 million coins are infinitely divisible.

That being said, bitcoin is inflationary as new coins are minted. It will only start deflating in several decades when all the coins get mined out


For anyone wondering, the last bitcoin is scheduled to be minted in 2140. Hard for me to imagine it not being completely centralized well before then, but I'm hoping to be surprised.
 

KlokWyze

Diamond Member
Sep 7, 2006
4,451
9
81
www.dogsonacid.com

Here's a list of the interested parties.

The list of names includes:

Daniel Folkinshteyn, assistant professor at Rowan University
Barry Silbert, CEO for SecondMarket
Luther Lowe, director of public policy for Yelp
Malcolm Oluwasanmi, chairperson of Little Phoenix Investment Group
Fabrice Evangelista, quantitative arbitrage at BNP Paribas
Michal Handerhanm, co-founder and COO of Bitcoin Shop
Dave Goel, managing general partner of Matrix Capital Management
Dinuka Samarasinghe, investment professional
Chris DeMuth Jr., Rangeley Capital
Fred Ehrsam, co-founder, Coinbase
Jonathan Disner, corporate counsel at DRW Trading Group
William Brindise, head investment manager at DigitalBTC
Michael Moro, director at SecondMarket
Jennifer R. Jacoby, lawyer at WilmerHale
Sam Lee, co-founder, Bitcoins Reserve
Shem Booth-Spain, artist and musician
Avarus Corporation

Quoted Article
 

KlokWyze

Diamond Member
Sep 7, 2006
4,451
9
81
www.dogsonacid.com
Anyone see that bter.com is now offering interest for crypto deposits? Hmmmmm.... considering I'm just sitting on my coins waiting for the prices to jump.... why not?
 

thilanliyan

Lifer
Jun 21, 2005
11,944
2,175
126
Anyone see that bter.com is now offering interest for crypto deposits? Hmmmmm.... considering I'm just sitting on my coins waiting for the prices to jump.... why not?

Sounds like a good idea, but I'm not sure I'd want to leave a bunch of coins on any site really.
 
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