Crypto-currency mining?

lukep said:
Ain't that the truth. There isn't a miner in my possession that hasn't made me back what I spent on it (breakeven) but at the same time I still would have made 10x more spending every cent of that cash on coins directly.

Mining profitability calcs should compare your purchase to the rewards for buying coins instead.




Um... The time for big profit on that endeavor is running out fast... Governments are starting to protect us from bitcoin thieves for some reason: German Police Detain 'Bitcoin Mining Hackers'
Bitcoin Scammers Held by Chinese Authorities

Lulz... If only those cops could see a few years into their future. ;)
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people buying miners on waiting lists and then using it after are retards
the only way to make money is build own rigs
or use other people their hardware ( use your imagination for this )
 


o hai guyz said:
GF works at a university research lab and is in charge of a couple "supercomputers." I've been debating getting her to install mining software for one of the smaller coins that can be mined mostly w/ CPU. @ Fatbat and other miners, are there any coins you would recommend doing this with, and would it be profitable, or is it still largely a waste of time?
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It's probably illegal. Those supercomputers don't run for free. Watch out before you get here into shit and do some research.

Gaming Company Fined $1 Million After Using Players To Mine Bitcoin - Business Insider etc
 
o hai guyz said:
GF works at a university research lab and is in charge of a couple "supercomputers." I've been debating getting her to install mining software for one of the smaller coins that can be mined mostly w/ CPU. @ Fatbat and other miners, are there any coins you would recommend doing this with, and would it be profitable, or is it still largely a waste of time?
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Try Coinchoose

Maybe PPC, PTS or XPM
 
(O_o) said:
Kim DOT com is not behind megacoin. I thought the same thing when I first got into it but after doing a lot of research, it turns out he is not behind it. Its by a guy named Dr. Kimoto Chan (bitcointalk username).

There is nothing tying them together besides the word 'mega' . Sorta like Federal Express has nothing to do with the federal government. He has not announced anything about him being behind it or linking him to it.

Also why would a multi millionaire use 99designs for the logo ? surely he has access to tons of inhouse gfx designers.

Icon or button design contest | Create a winning icon for Megacoin | Design Brief | 99designs

That being said, I am currently mining Megacoin and making around $16//day off 1 gfx card @ 640 KH/s. I use exchange Cryptsy and exchange the MEC(Megacoin) into LTC or BTC at the end of each day.

At the time of this post. 1 MEC = $ 1.51.
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Interesting. One could do something interesting with a few cards then I guess. I never mined. Might begin sometime soon, but I don't know how to do it. Must put in the effort to learn..
 
Can someone please answer this for me.. I was always under the impression that the whole point of bitcoin is that you can be anonymous while paying for things, but then what's the point if you end up spending them on something like a Virgin flight or a Namecheap domain when you're going to have to create an account with an email address, or give all of your info up so you can book a ticket for a flight?

Also, I could have sworn someone posted about the real benefit of bitcoin being a special transaction model or communication system.. Something like that.

I'd dig for these answers right now myself but I'm mobile.
 
Fatbat said:
You know how to make ASIC mining equipment do you?
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oh shut it
build x number of rigs with 7970 gfx cards times 4 per rig
you can do this at home and yes I can ;)
each will produce approx 800+ khash/s x 4

build 2 of these rigs and at current difficulty you will already make 100usd a day
the price of one such rig is maybe 2.5k x 2 is =5k maybe cheaper if u source well
build 10 of those setups and make a G a day at initial investment of around 40k and make 30k back first month

above calc is for LTC NOT BTC

btw u obviously have to be in a no power cost setup for the above to be neat money
 
andymurray said:
oh shut it
build x number of rigs with 7970 gfx cards times 4 per rig
you can do this at home and yes I can ;)
each will produce approx 800+ khash/s x 4

build 2 of these rigs and at current difficulty you will already make 100usd a day
the price of one such rig is maybe 2.5k x 2 is =5k maybe cheaper if u source well
build 10 of those setups and make a G a day at initial investment of around 40k and make 30k back first month

above calc is for LTC NOT BTC

btw u obviously have to be in a no power cost setup for the above to be neat money
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1. Suck a fat dick.

2. Your LTC mining estimates are grossly exaggerated. 3.2 MH/s you'll earn 1.07 LTC per day at current difficulty, or about $30 worth. So with two rigs you'll make about $60 a day at current rates. 10 rigs, $300 a day, or about $9000 in a month. So you're only off by about 330% in your claims.
 
Fatbat said:
1. Suck a fat dick.

2. Your LTC mining estimates are grossly exaggerated. 3.2 MH/s you'll earn 1.07 LTC per day at current difficulty, or about $30 worth. So with two rigs you'll make about $60 a day at current rates. 10 rigs, $300 a day, or about $9000 in a month. So you're only off by about 330% in your claims.
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suck your own dick
you dont know the rate of diff increased a lot between my last post?
it was 100% accurate when I posted
grow a brain
 
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Fatbat said:
The difficulty has shot up 330% in 5 days? If so, my apologies.
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dude fuck you
7970 x 4 times 2 is near 5k hash rate not 3.2k
idiots gonna be idiots
http://bitcoinwisdom.com/litecoin/difficulty

which is about a 100% increase which is exactly what happened in the date from 6th till now

I estimated 3k per dual rig at 100 a day
now it is almost exact half
https://www.litecoinpool.org/calc?h...926.50971494&power=&energycost=0&currency=USD
as expected
seriously eat dick and grass as you certainly dont have a brain
stick to designing cause this shit aint for mice inside human bodies
 
Oh_he_mad.jpg
 
The difficulty and price of things change so often you have to reevaluate ROI and profit like every single day.

Then you have to decide if you want to hold on to the currency or cash out.
 
@andy even if your numbers were accurate when you posted them, wouldn't the constant increase in difficulty push you significantly under that 30k/mo estimate anyway? So effectively you may only make 20k, and even by then the rig is practically useless. It's not like you're going to drop 40k and then continue making 30k/mo for 6 mos
 
o hai guyz said:
@andy even if your numbers were accurate when you posted them, wouldn't the constant increase in difficulty push you significantly under that 30k/mo estimate anyway? So effectively you may only make 20k, and even by then the rig is practically useless. It's not like you're going to drop 40k and then continue making 30k/mo for 6 mos
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You could switch to a different currency if another currency becomes more profitable to mine.

Also, I read an article about how some people are using AWS to mine some of these currencies which is fascinating.
 
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