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The Altcoin Thread

I believe the problem is because we have not solved a block yet. I'm looking more closely to ensure everything is operating the way it should.
 
vibe said:
Should I do trade offers in the for sale section or is here okay since it is a dedicated thread?

I have a million dogecoin which is apparently now impossible to do unless you have mega hardware.

So would love to trade for BTC or even more mining hardware if someone actually has 7950s and is no longer mining scypt coins since they cannot (reasonably) be used for BTC
Click to expand...

First off, I don't consider myself to have mega hardware and from my calculations I could still do 1 million DOGE in a few days. So unless the difficulty was jacked up because some of the multi-pools were doing DOGE off and on, it doesn't appear to be anymore difficult than it was yesterday to earn the same amount. In fact, the difficulty appears to be dropping slightly.

Second, I just wanted to make sure you're aware that BTC isn't a scrypt coin. 7950's are notoriously good at scrypt coins. The only reason someone would be getting rid of their 7950's is because, as you say, they are getting out of mining (or have upgraded to 280X's or 290's... which provide more hashes, but are less efficient in their power usage while doing it).
 
I think we'll need a good boost of hashrates to constantly see new blocks on F5. Anyone else want to throw in? :)
 
I think if we can get over 10Mh/sec we'll be sitting pretty. Thanks to all of the contributors !
 
The problem with small pools is just that; they're small. Payouts are not consistent and you will not attract the big fish.

My first question for Dark Shade, is why FTC?
What benefits do you think FTC has that sets it apart from other scrypt coins?

I recently experimented with switching my rigs over to FST for a day, and the calculators and estimated mining rate were nowhere near the actual. The actual amount of coins I mined was less than 25% of the amount the calculators were predicting.

The calculators estimated I would get approx 4600 coins /day. I only mined 1100, and the FST wallet is screwed up and can't connect to the blockchain. I joined the largest FST pool there was, which only had about 210 MH/s. I have about 12-13Mh/s right now. Much of the time their servers were slow and didn't even maintain connection for the whole day; they had 6 hours of unresponsiveness and my rigs switched to my backup. But that only accounts for about 30% of the unmined coins that I should have gotten (at best). Which means, the stales, and server setup were responsible for the other 40% of unmined coins that I should have had. So, that experiment with new coins left a sour taste in my mouth.

I also mined FTC with GMC for a brief period; but again, I see no benefit to FTC over LTC. Sure, it's easier to mine, but the transaction times are the same. There's no benefit. So why would merchants choose to accept FTC?

Lets put it this way, if you were to sell some hardware on the forum, what would you want as payment, FTC or LTC?

I also mined with a small LTC pool a long time ago; I found that the "luck" of the pool was less than 100% and I wasn't getting the expected return over time. The argument for mining with a small pool is that you get larger payouts when you do get them. So lets say you get 6 blocks solved one day, and rotten luck the next day and you only get 2-3 blocks. Then you stretch it out over 2 weeks and you "should" be getting the average; but the problem is the changing pool size, and luck still. Luck of solving blocks is less of a factor with larger pools that can solve/find hundreds of blocks in a day, because each round only takes minutes, or maybe 10-15 mins.

I understand why you'd want to have a pool and make it large, because it gives the pool owner a chance to skim off everybody else. For that, I applaud your efforts to setup a pool. But now you have to make it grow.
What incentive can you offer the big fish to join your pool over GMC for mining FTC? There's no benefit.

They have 29% of the total FTC hash power, and their 1.5Gh pool solves 500x as many blocks as your 3 MH pool. A long block time to solve with the small pool means that I could have multiple days with a fraction of the payout of coins that I should be getting. A streak of bad luck blocks is really really bad over a couple of weeks, because lets face it, it "should" average out over time, but time is money.

Here's an example for your pool:
I join your 3 MH pool and I have 12 MH, so the total pool is 15 MH. I have 88% of the computational power of your pool.
Then the pool has bad luck for a week (or a few days).

Then somebody else joins with just as much hashpower as me, then guess what?
I only get 44% of the payout instead of 88% of the payout.
But then you say, yeah, but we find blocks faster;

Ok. we find blocks faster. From that point on though, I effectively "lost" that other 44% of the payout that I should have had.

I learned this lesson the hard way when I started mining LTC. It doesn't pay to mine with small pools.
Plus, it's much more convenient to mine with one dashboard for all my rigs, and I can choose to mine LTC or FTC and the pools are still good. I don't have to go to different websites, type in more login info, keep track of my miners. You get the picture.
 
I like ftc because its community driven and it also has more possible coins than LTC. Which could attract more merchants because the more coins that are available means the more potential customers using it. Its all a gamble right now and neither alt has proven to be superior.
 
J Macker said:
My first question for Dark Shade, is why FTC?
What benefits do you think FTC has that sets it apart from other scrypt coins?
.
Click to expand...

I've found that FTC has been, at least from my point of view, one of the stronger (community-wise) scrypt-coins to jump on, as LTC's difficulty has gotten a little too high for profitability, and it isn't some random Xcoin some guy made up for teh lulz (looking at you, dogecoin). Even with this slight crash, LTC difficulty is still going up, and there are already several good pools to mine LTC from. Not to say there aren't any good FTC pools as well; I wanted to set this up for [H] folks and friends who want to mine FTC (or another altcoin if we so choose).
 
nvgrim said:
I like ftc because its community driven and it also has more possible coins than LTC. Which could attract more merchants because the more coins that are available means the more potential customers using it. Its all a gamble right now and neither alt has proven to be superior.
Click to expand...

Maximum coinage should not matter from a merchants perspective since all coins can be split into decimals...
 
Dark Shade said:
I've found that FTC has been, at least from my point of view, one of the stronger (community-wise) scrypt-coins to jump on, as LTC's difficulty has gotten a little too high for profitability, and it isn't some random Xcoin some guy made up for teh lulz (looking at you, dogecoin). Even with this slight crash, LTC difficulty is still going up, and there are already several good pools to mine LTC from. Not to say there aren't any good FTC pools as well; I wanted to set this up for [H] folks and friends who want to mine FTC (or another altcoin if we so choose).
Click to expand...

Profitability is still there for LTC, it's just smaller than it used to be. Heck, it's profitable for me to mine it as long as I need to heat my house.
I was mining LTC all summer when LTC was only $2-3 per coin.

At this point, I'm still making 4 LTC/day, which equates to 120 LTC/month.
Given that my electric bill is $300, that works out to <$3 per LTC before it's not profitable for me.

But, I would be spending money right now for heat anway, I will mine it for the next 3 months while I need to heat my house, even if it had no value, and was costing me money to run my rigs.
Electric cost for everybody is different; and I know that some people pay double my rates, or even triple. So even though you say it's not profitable, that might be specific to your situation.

People mined coins when they weren't profitable at all, just to have a chance for speculating on future value.

The reasons you listed for FTC are purely speculation; it's actually about the same profitability as LTC according to the charts; and it has been less profitable in the past week. The transaction times are the same, so it's merely a change in the decimal place.

It's simply because people prefer whole numbers; they're easier to use.
 
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J Macker said:
Profitability is still there for LTC, it's just smaller than it used to be. Heck, it's profitable for me to mine it as long as I need to heat my house.
I was mining LTC all summer when LTC was only $2-3 per coin.

At this point, I'm still making 4 LTC/day, which equates to 120 LTC/month.
Given that my electric bill is $300, that works out to <$3 per LTC before it's not profitable for me.

But, I would be spending money right now for heat anway, so as long as LTC has any value whatsoever, I will mine it for the next 3 months while I need to heat my house.
Electric cost for everybody is different; and I know that some people pay double my rates, or even triple. So even though you say it's not profitable, that might be specific to your situation.

People mined coins when they weren't profitable at all, just to have a chance for speculating on future value.

The reasons you listed for FTC are purely speculation; it's actually about the same profitability as LTC according to the charts; and it has been less profitable in the past week. The transaction times are the same, so it's merely a change in the decimal place.

It's simply because people prefer whole numbers; they're easier to use.
Click to expand...

From my observations, in this specific situation, casual miners like myself who have 2, possibly 3 mine-able AMD cards, are generally better off obtaining more coins that are worth less in the chance that the value will raise to a larger degree than LTC would in a relatively short period of time.

It's not that I'm against mining LTC, I did it just a few weeks ago, but the speculation of value regarding multiple cryptocurrencies combined with the difficulty increases means I either need to invest in more capital (more cards) or take a gamble on an alternate coin. The former isn't feasible for me at this time due to budgetary concerns, and the fact that AMD card values are overinflated, so I choose the latter.
 
Haitch said:
Someone bought 60 DOGE for 0.5 BTC.....then reality set in.

I really wanted to have some DOGE in crypsy when I saw that buy offer.

H.
Click to expand...

So did everyone else and their doge! LOL!

But I'm glad it came down to realistic levels even though it is still extremely profitable at this point. I'll admit, I've jumped on the DOGE train while the gettin's good. I'm not fond of the coin... it's something that grew from the bowels of Reddit and 4chan (nothing good ever comes from 4chan)... it was launched as a sort of joke. I still hope it is banished to /dev/null one day, but while it's here, if it makes me some money, I'll hold back my ill feelings and ride the wave for awhile.
 
facepalm-captain-picard.jpg
 
Yeah if it's earning you money why not? Lol. Also reading nightmares stories from buying/selling your DOGEs from cryptsy.
 
Ya.... Figured that would earn a facepalm. LOL! :D

Ya, not looking forward to using Craptsy. But I'll battle my way through it somehow.
 
Lol! yeah let us know then how it goes with cryptsy. Another coin exchanged seems down(Coinedup)
 
I think i might mine doge for the fun of it to make some quick cash,but its still a retarded coin.
 
Haitch said:
Someone bought 60 DOGE for 0.5 BTC.....then reality set in.

I really wanted to have some DOGE in crypsy when I saw that buy offer.

H.
Click to expand...

Pretty much guarantee you ALL of those "high price" doge buys were filled by Vern. It's good to be king.

Also, Coins-E is now trading DOGE -> BTC. Just fyi.
 
SunnyD said:
Pretty much guarantee you ALL of those "high price" doge buys were filled by Vern. It's good to be king.

Also, Coins-E is now trading DOGE -> BTC. Just fyi.
Click to expand...

I got some of it... .02 was the highest I got a sell for but thats what like $15? so yeah I pocketed a total of about $80 from some that I hadn't used middlecoin for.
 
Somewhere around here there was a guy setting up a pool for a fairly common coin. I just ordered a server that I'm going to be installing some weird coins and pointing my rigs at it. If anybody wants some weird coins on a good server lets do it. I have no interest in competing with these pools with hundreds of Mhash. I want to be able to point my 7+Mhash at and actually be able to get coins at a reasonable frequency. DOGE is out right now cause middlecoin and well EVERYBODY is on it right now. I'll install clients and setup a sub domain on emerging coins and we can just hop in early and do some mining and cross our fingers that it'll end up going someplace which is what I did with DOGE and have done with some other coins in the past except now it'll be on a public server instead of a machine in my closet.

I'm also looking into leasing some servers for CPU mining and just set it for a really low priority level (if possible)
 
mkrohn said:
Somewhere around here there was a guy setting up a pool for a fairly common coin. I just ordered a server that I'm going to be installing some weird coins and pointing my rigs at it. If anybody wants some weird coins on a good server lets do it. I have no interest in competing with these pools with hundreds of Mhash. I want to be able to point my 7+Mhash at and actually be able to get coins at a reasonable frequency. DOGE is out right now cause middlecoin and well EVERYBODY is on it right now. I'll install clients and setup a sub domain on emerging coins and we can just hop in early and do some mining and cross our fingers that it'll end up going someplace which is what I did with DOGE and have done with some other coins in the past except now it'll be on a public server instead of a machine in my closet.

I'm also looking into leasing some servers for CPU mining and just set it for a really low priority level (if possible)
Click to expand...

Sounds like a good idea.

If I had the ability to host a server I'd setup my own.

Today I managed to sell off some Doge that I had between 1-2M/h aimed at for 2 days. Got .21 BTC for it, haha.
 
mkrohn said:
Somewhere around here there was a guy setting up a pool for a fairly common coin. I just ordered a server that I'm going to be installing some weird coins and pointing my rigs at it. If anybody wants some weird coins on a good server lets do it. I have no interest in competing with these pools with hundreds of Mhash. I want to be able to point my 7+Mhash at and actually be able to get coins at a reasonable frequency. DOGE is out right now cause middlecoin and well EVERYBODY is on it right now. I'll install clients and setup a sub domain on emerging coins and we can just hop in early and do some mining and cross our fingers that it'll end up going someplace which is what I did with DOGE and have done with some other coins in the past except now it'll be on a public server instead of a machine in my closet.

I'm also looking into leasing some servers for CPU mining and just set it for a really low priority level (if possible)
Click to expand...

Do you have any requirements for the coin? I'm only mining at 250kh/s as of the moment the 2 R290s I ordered got shipped to china.:mad:
 
I have a couple of VPS's that I could conceivably host a few pools on... I'm just having problems figuring out how to set up the pool software. (I'm relatively new to the mining game in general).
 
mkrohn said:
Somewhere around here there was a guy setting up a pool for a fairly common coin. I just ordered a server that I'm going to be installing some weird coins and pointing my rigs at it. If anybody wants some weird coins on a good server lets do it. I have no interest in competing with these pools with hundreds of Mhash. I want to be able to point my 7+Mhash at and actually be able to get coins at a reasonable frequency. DOGE is out right now cause middlecoin and well EVERYBODY is on it right now. I'll install clients and setup a sub domain on emerging coins and we can just hop in early and do some mining and cross our fingers that it'll end up going someplace which is what I did with DOGE and have done with some other coins in the past except now it'll be on a public server instead of a machine in my closet.

I'm also looking into leasing some servers for CPU mining and just set it for a really low priority level (if possible)
Click to expand...

Just curious why you don't just solo-mine?
 
oblox said:
Just curious why you don't just solo-mine?
Click to expand...

I frequently do currently. My NAS CPU can't keep current with enough coins so I figured what the hell instead of upgrading a local server for my house why not just go with one on the web with a nice and fast connection?

with DOGE though there is so much hitting that right now that I haven't bothered solo mining on it. I'll probably config DOGE on my new server and see what happens
 
Darksieg said:
Do you have any requirements for the coin? I'm only mining at 250kh/s as of the moment the 2 R290s I ordered got shipped to china.:mad:
Click to expand...
I wont have any requirements for it. I'll start by setting up a dedicated pool for each coin I ever touch. I'll then setup a few subdomains and install the same interface that coinhuntr.com uses and config a separate instance for each coin I setup. You just install them on different ports and roll.

I personally will be jumping around to some different coins with my power. If anybody feels like sticking with a single coin then go for it and I'll promote them where possible to get some others using it too.

I'm hoping to just watch the announcements and toss a pool up as soon as I find a coin getting some traction.

My web based cryptsy auto trader will be sidelined for a little bit so that I can get these mining pools up and running but then I'll focus on integrating them and making payouts go straight to BTC
 
mkrohn said:
I wont have any requirements for it. I'll start by setting up a dedicated pool for each coin I ever touch. I'll then setup a few subdomains and install the same interface that coinhuntr.com uses and config a separate instance for each coin I setup. You just install them on different ports and roll.

I personally will be jumping around to some different coins with my power. If anybody feels like sticking with a single coin then go for it and I'll promote them where possible to get some others using it too.

I'm hoping to just watch the announcements and toss a pool up as soon as I find a coin getting some traction.

My web based cryptsy auto trader will be sidelined for a little bit so that I can get these mining pools up and running but then I'll focus on integrating them and making payouts go straight to BTC
Click to expand...

If you need any help setting up php-mpos, I just did it and there's some gotchas during the install. The Quick Start Guide isn't as complete as you might think
 
Dark Shade said:
If you need any help setting up php-mpos, I just did it and there's some gotchas during the install. The Quick Start Guide isn't as complete as you might think
Click to expand...

apparently there's quite a bit of weirdness with centos so just getting to a point where I can compile everything I need for the daemons is taking me a while
 
mkrohn said:
apparently there's quite a bit of weirdness with centos so just getting to a point where I can compile everything I need for the daemons is taking me a while
Click to expand...

Yes, I abandoned setting one up on CentOS and just installed an Ubuntu Raring server.
 
Dark Shade said:
Yes, I abandoned setting one up on CentOS and just installed an Ubuntu Raring server.
Click to expand...

yeah I'm about to just do the same, its just one headache after another so its just not worth it. For pure web servers I always prefer centos but wow is it ever making this task impossibly hard. I guess this is why I keep going back to ubuntu around here.

Any suggestions on low hashrate or new coins? yes I'm gonna toss DOGE on it mainly because I want to see if I have enough to even find coins myself
 
Dark Shade said:
Yes, I abandoned setting one up on CentOS and just installed an Ubuntu Raring server.
Click to expand...

I also determined CentOS is crap for trying to do anything *coin related. Use a Debian-based distro or go home. That said, I've gotten neither eloipool nor pushpool "happy" yet, so getting to the MPOS part isn't even on my TODO list yet. What are you all using for your backends?

Also, is f5 working? (I assume one would need an invite still?) Do we have any other active doge pools? I could use a couple backups since netcodepool is dead.
 
SunnyD said:
I also determined CentOS is crap for trying to do anything *coin related. Use a Debian-based distro or go home. That said, I've gotten neither eloipool nor pushpool "happy" yet, so getting to the MPOS part isn't even on my TODO list yet. What are you all using for your backends?

Also, is f5 working? (I assume one would need an invite still?) Do we have any other active doge pools? I could use a couple backups since netcodepool is dead.
Click to expand...

CentOS is notoriously bad for staying a little too far behind the curve in terms of packages and refinements (for instance, look at its accepted gcc version and how it affects newer programs with an old stdlibc++) All the *coin stuff works flawlessly in Ubuntu.

F5 is working. I am considering moving away from FTC as it doesn't seem like we have the hashrates to sustain an established coin such as FTC. Any suggestions?
 
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