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The Altcoin Thread

Folks pointing to scryptguild please remember that it is still a pretty small pool and you are likely to experience variance. It is a very well run pool and I mine there, but do be prepared for down days.
 
Alright, so here is the update :).

4 Dedicated 20AMP circuits with GFCI outlets installed by an electrician for $340 out the door :). The run is almost straight through the wall from the main fuse box. Our city is very low income so things like this can be pretty cheap.
 
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Why didn't you just install a NEMA 15-50 ?

You could 10 rigs off one outlet and your PSU's would run more efficient.
 
okashira said:
Why didn't you just install a NEMA 15-50 ?

You could 10 rigs off one outlet and your PSU's would run more efficient.
Click to expand...

I dunno :confused:, I just told him I wanted the 4 dedicated 20Amp Circuits.

I don't think I will come even close to maxing out 4 dedicated circuits. I probably could have been alright with 2 dedicated 20A circuits.
 
My 7850 lasted less than 2.5 months until the fan died. lol

Good thing I was here to catch it so my place didn't burn down.
 
As this is an alt coin thread help me out here.

Where are you guys selling your litecoins for actual cash?

I found two places, BTC-E and litetree and read through their FAQ.

Litetree suggests you can sell your coins and have them deposited in a paypal account, that is about as straight forward as possible.

I would not give out my bank account if they asked for one, it seems risky.

So who's the best and easiest/safest in your opinion?
 
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i want to know that too
lets wait reply
actually i need a help one of you guys for sell my coins for usd
keke
 
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ep0x73 said:
As this is an alt coin thread help me out here.

Where are you guys selling your litecoins for actual cash?

I found two places, BTE and litetree and read through their FAQ.
...

So who's the best and easiest/safest in your opinion?
Click to expand...

Sell LTC for BTC at your preferred exchange (cryptsy, btc-e, etc).

Transfer BTC to your coinbase account.
Sell BTC for USD on coinbase.
Withdraw to bank.
 
ep0x73 said:
As this is an alt coin thread help me out here.

Where are you guys selling your litecoins for actual cash?

I found two places, BTE and litetree and read through their FAQ.

Litetree suggests you can sell your coins and have them deposited in a paypal account, that is about as straight forward as possible.

I would not give out my bank account if they asked for one, it seems risky.

So who's the best and easiest/safest in your opinion?
Click to expand...

I trade them for BTC on btc-e, send the BTC to Coinbase and withdraw to USD there.
 
jojo69 said:
actual cash?

you mean gold? or BTC?
Click to expand...

Well cash would be nice but I mean legal currency like USD put into paypal that you can then legally spend.

Do all of these exchanges make you add a bank account to buy/sell?
 
ep0x73 said:
Well cash would be nice but I mean legal currency like USD put into paypal that you can then legally spend.

Do all of these exchanges make you add a bank account to buy/sell?
Click to expand...

Apparently you can cash out to Paypal on BTC-e but it costs an enormous 7% fee and the minimum transaction is $500 USD.

I will echo the others on this though... sell to BTC and cash out at your exchange of choice.. Coinbase I guess is everyone's choice if you're American. I'm Canadian and use Virtex here in Canada (which now directly exchanges LTC for CAD$ as well).
 
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ep0x73 said:
Where are you guys selling your litecoins for actual cash?
Click to expand...

*shrugs*

I've just used giftcardltc.com - exchanges LTC for Amazon gift cards, which are practically as good as USD for my purpose.

Exchange rate isn't great (and they lag behind the current market value by *at least* two hours), but it's not awful - and it's ridiculously easy, plus you aren't giving them any information even REMOTELY tied to any financial account of yours.
 
That's a new twist, exchange LTC for an amazon gift card.

7% fee, damn that's quite the hit.
I emailed that litetree as it was mentioned on their site about papypal, maybe their rate is less.

I am in the USA so I'll look into coinbase,thanks

I already set up a litecoin-qt wallet, maybe coinbase is better?
 
ep0x73 said:
That's a new twist, exchange LTC for an amazon gift card.

7% fee, damn that's quite the hit.
Click to expand...

It's about the average - not good, but not awful, as noted.

And it's nice that they really don't care what kind of email address you use - even one of those temporary spam-decoy accounts or something. As long as the Litecoin payment checks out, they ship a gift card code.

I know a few folks totally paranoid that the government is only ever 2 steps away from throwing in jail anyone who ever mined or traded in crypto-currency, so the anonymity can be attractive.
 
My largest fear is adding a checking/savings account and then having that hacked and drained.
That is why I'd rather go the paypal, giftcard route, something safer.

CC would work, basically you could carry a positive balance but that does not seem to be an option.
Course they would need your CC # and could hack that too.

what is the going rate at giftcardltc? it is not mentioned anywhere.
 
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Ergo, my taking the giftcard route. ;)

I'm a paranoid sort myself, kinda, more or less. Well, not so much. But I don't trust these guys, so I'll take a slight hit in trading fees to obviate any possibility of something hacked.
 
ep0x73 said:
My largest fear is adding a checking/savings account and then having that hacked and drained.
That is why I'd rather go the paypal, giftcard route, something safer.

CC would work, basically you could carry a positive balance but that does not seem to be an option.
Course they would need your CC # and could hack that too.
Click to expand...

So open up a free checking/banking account at a different bank, hell even at the same bank, and use it exclusively for this.
 
I am not going to be any hardcore miner, hell I am not even sure if it works to be honest so opening up another account is premature.
Making a few coins to spend on amazon is about the extent I'd really do, extra play cash.
It's pretty easy to buy stuff on amazon to say the least.
 
coinshift.com pool looks like 0.005 btc for 1mhs - 1.1mhs per 24 hours
maybe it's lower than what i did in wemineltc pool
 
coinshift is pretty craptacular so far

K0vZ60c.png


shifting away

there is probably not enough hash power to find enough blocks
 
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coinshift about 24 hours with 1.1mhs
i'll compare it to wemineltc for next two days
coinshift_1100mhs_24hours.jpg
 
No coin switching pool is over .010 per MH right now. I pointed 1.2mh at hashcows for 40 hours and have .008 to show for it.

I have 2.5mh on waffle, they've been getting around .007 per mh. Clevermining is right around the same .007 BTC per mh.

At this rate it's no more profit than mining straight LTC.
 
87dtna said:
No coin switching pool is over .010 per MH right now. I pointed 1.2mh at hashcows for 40 hours and have .008 to show for it.

I have 2.5mh on waffle, they've been getting around .007 per mh. Clevermining is right around the same .007 BTC per mh.

At this rate it's no more profit than mining straight LTC.
Click to expand...

What about ScryptGuild?
 
vibe said:
How about some ARScoin, lol

https://coins.arstechnica.com/index.php?page=statistics&action=pool

We could make a HardCoin ?
Click to expand...

It's already been mentioned a few posts up.

But the question would be - what could [H] DO with a [H]ardCoin to make it worthwhile to the site itself? Does [H] have anything to monetize? Or even tongue-in-cheek?

Would Kyle be willing to provide access to something like genmay for coins? I presume he would if they ended up having some actual monetary value he could exchange them for later on. But getting the public to accept genmay as a value driver for a currency would be a tough sell.
 
I switched over to LTCRabbit for a few days and noticed I could just mine LTC direct and make the same amount. Made no sense.
 
ltc is about to go to 4100 difficulty, so half a litecoin a day kinda sucks

especially if the value goes down to single digital usd
 
vibe said:
ltc is about to go to 4100 difficulty, so half a litecoin a day kinda sucks

especially if the value goes down to single digital usd
Click to expand...

So this is my take on the whole situation including LTC:

The alt coin market finally had enough. It got saturated with too many shit coins that were only popular for a couple days due to hype, a catchy name, relation to some other product or cause, etc. There's only so many people involved in this whole crypto market thing. I think new investors are scarce, most likely some of them scared off by the recent Gox scandal. So, with all of these coins demanding a piece of everyone's BTC, and none of them giving much of anything back, people stopped being so generous. So now people are starting to fall back to those coins that they feel will keep their value, like LTC. And I think it's only going to get worse. With thousands of ASIC chips in the wild now (sold to Chinese farms) I think they are going to start putting their hash rate into those coins which can be relied upon to keep their value. LTC... maybe DOGE (the jury's out on this one yet).

If you watch a site like Coinwarz, you'll see that LTC is probably the only alt coin that truly is at the top of the profitability list. Any others above it are there only because their difficulty dropped so drastically that it's now profitable to mine those coins because you'll be earning more of them for however long that low diff lasts (usually around 5 to 15 minutes).

As for profit switching pools, I think you'll probably find that 0.007BTC per MH is going to be the new peak potential profit... so expect less because I have a feeling it's all downhill from here unless something good comes along.
 
BTC is holding steady in the 600-700 range so the real question is, what gives alt-coins their exchange ratio to BTC? Whatever that is, is going away.
 
I know its unpopular opinion but I feel that at some point DOGE will go through a rebranding of sorts for more legitimacy . I've been lurking that subreddit and while sure there are some ridiculous posts in the name of fun there are some promising start ups here and there. Oh and for the previous posts regarding converting alts to GC's, I believe you can get GC's for DOGE also. I think the site is called treats.io.
 
edge929 said:
BTC is holding steady in the 600-700 range so the real question is, what gives alt-coins their exchange ratio to BTC? Whatever that is, is going away.
Click to expand...

It was exclusivity and uniqueness (to an extent). The fact that you could still make money with GPU's on scrypt coins and not be out-muscled by ASICs, not having difficulties be ridiculously high but high enough to be sustainable, and the pure thrill of speculation.

Now we have a shitstorm of crapcoins thanks to coin generators with failed launch after failed launch, coins that come out with ridiculous parameters, "devs" (you can't even use that word in any sense) that don't know what they're doing thanks to coin generators, and my personal favorite - multipools, which have absolutely no human element and serve only to dump coins at whatever price is available driving prices down, and lastly this has all begat the latest trend: Rush 'n Dump - where you have to rush to get in and preferably instamine a coin and dump it as quickly as possible in the "get in first to lock in the high price, then dump for whatever you get" mentality.

Simply put, altcoins in their current form are burnt out. And that's precisely why LTC is making a comeback. It's "stable", with value, has backing and history. It's the incumbent.
 
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