Miners


Source:https://bitcointalk.org/index.php?topic=502589.1040
 
I am just using the multi port on Multipool now and letting them decide. Until I see something I think might be worth switching to.
 
tozak said:
Not much out there atm for high profitability, will try MtGox Coin tomorrow, launching around midday

http://mtgoxcoin.com/
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considering that a lot of people just got burned ( or gox'ed) I dpont think I will touch it as it has a high % of premined coins as well
 
Probably the planet's biggest Bitcoin mining operation check the vid at 3:15 min Crazy HUGE!

[youtube]http://www.youtube.com/watch?v=5CjldZLXiAU[/youtube]
 
http://wafflepool.com/

Going to try this out.
Basically mines the most profitable alt coin, trades the coins on an exchange to Bitcoin for you, and then sends you your share of the Bitcoin mined.

If you want to speculate with coins it's probably not great, because you'll never hold the actual alt coin, but if you just want your profits, it's pretty good idea.
 
If this really takes off it will drive down the price of Altcoins and drive up Bitcoin


RetardedMonkey said:
http://wafflepool.com/

Going to try this out.
Basically mines the most profitable alt coin, trades the coins on an exchange to Bitcoin for you, and then sends you your share of the Bitcoin mined.

If you want to speculate with coins it's probably not great, because you'll never hold the actual alt coin, but if you just want your profits, it's pretty good idea.
Click to expand...
 
tozak said:
If this really takes off it will drive down the price of Altcoins and drive up Bitcoin
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Not to be a wet blanket, but it also is highly likely that its a one man/woman show that could run off with a stack of coins/skim trading profits/be hacked and lose the lot.

Given recent events with more than one exchange service going down due to incompetence/inability/hackers its not unreasonable to have these concerns.
 
Dabloodymess said:
Not to be a wet blanket, but it also is highly likely that its a one man/woman show that could run off with a stack of coins/skim trading profits/be hacked and lose the lot.

Given recent events with more than one exchange service going down due to incompetence/inability/hackers its not unreasonable to have these concerns.
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That can be said about any online presence though. Of which cryptos have many.
Though, I understand the concern.

With mining pools though, you get a payout to your wallet every so often.
Therefore if you're hashing but not seeing transactions for even as little as 12 hours, you could say something is fishy and mine elsewhere.
 
RetardedMonkey said:
http://wafflepool.com/

Going to try this out.
Basically mines the most profitable alt coin, trades the coins on an exchange to Bitcoin for you, and then sends you your share of the Bitcoin mined.

If you want to speculate with coins it's probably not great, because you'll never hold the actual alt coin, but if you just want your profits, it's pretty good idea.
Click to expand...

i have had better results at http://clevermining.com/
 
In regards to BTC is it fair to say the dynamics of mining has changed from small time and hobby miners occupying the majority of the hash rate which hold BTC (prior to 2013 asics) to the big operators that cash out in order to cover costs and take profit in $$$?
 
aleks said:
In regards to BTC is it fair to say the dynamics of mining has changed from small time and hobby miners occupying the majority of the hash rate which hold BTC (prior to 2013 asics) to the big operators that cash out in order to cover costs and take profit in $$$?
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Looks that way,
But as the difficulty of cracking the block chain increases they must consume more power to earn bitcoins, which means that they will have to cash out at higher and higher $rates to maintain the same profit margins to cover the cost of increasing power consumption. This should maintain price pressure. It will also place a cap on how large mining operations can become. It will continue evolving so that the big operations like that one in the above youtube vid will have to merge with other big ones until it forms another giant mining pool.
Coming from leftfield though is the improvement in chip processing power.

Daym bitcoin, you crazy!
 
heartastack said:
aleks said:
In regards to BTC is it fair to say the dynamics of mining has changed from small time and hobby miners occupying the majority of the hash rate which hold BTC (prior to 2013 asics) to the big operators that cash out in order to cover costs and take profit in $$$?
Click to expand...

Looks that way,
But as the difficulty of cracking the block chain increases they must consume more power to earn bitcoins, which means that they will have to cash out at higher and higher $rates to maintain the same profit margins to cover the cost of increasing power consumption. This should maintain price pressure. It will also place a cap on how large mining operations can become. It will continue evolving so that the big operations like that one in the above youtube vid will have to merge with other big ones until it forms another giant mining pool.
Coming from leftfield though is the improvement in chip processing power.

Daym bitcoin, you crazy!
Click to expand...


Difficulty increases (except for 4-yearly halfing of reward blocks) by increased hashing power. Difficulty doesn't therefore always have to increase.

When it becomes uneconomical to mine, price will increase or miners will decrease.

There is no need for merges etc.
 
RetardedMonkey said:
Finding mining profitability is right down at the moment. Nothing seems to be very worth while at all :(
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Try VTC - minig for the long run and hold - Asics will kick out noramlly scrypt GPU mining, and GPU miners have to search for a new home
VTC with its concept could be this new home.

Some good and not too technical information about asics and gpu mining you can find here

http://www.reddit.com/r/vertcoin/comments/1zr9hy/faq_vertcoin_asicresistance_all_the_answers_you/

Have also a look of volume VTC/BTC market on cryptsy within the last 24h. Its huge and shows already now the big interest in VTC
You need to use vertminer to mine VTC instead of cgminer. Sgminer also is working
 
I tried using that Vertminer thing last night - I can't use anywhere near the settings I use when mining normal scrypt, it's strange.

I know it'll do about half the hashrate of normal scrypt, but I was only getting 150kh/s... anything higher intensity and I'd get HW errors.
 
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