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The Altcoin Thread

So I have noticed another new "thing" with some of the newer alt coins. There are sites out there called "Faucets"... what the heck are they? I mean, I'm trying Globalcoin and on their website they even have a link to a Globalcoin Faucet site. Can anyone clue me in on what a "faucet" is? I have a hunch it has something to do with free crypto coins, no?
 
Afaik faucets are by donations. The Donations then ges donated to those people who inputted their address.
 
Darksieg said:
Afaik faucets are by donations. The Donations then ges donated to those people who inputted their address.
Click to expand...

You're exactly right. They work off of other members donating to the faucet (or the devs) to be able to donate to other users. It's a means of spreading currency in hopes of having people get interested and maintain it, even with small amounts.
 
So here's a question...

Let's make this hypothetical even though I have it in practice. I have two miners running, A and B. They're both mining the same coin. Should the be mining under the SAME worker, or DIFFERENT workers, or does it not matter?
 
SunnyD said:
So here's a question...

Let's make this hypothetical even though I have it in practice. I have two miners running, A and B. They're both mining the same coin. Should the be mining under the SAME worker, or DIFFERENT workers, or does it not matter?
Click to expand...

Though I'm speaking with fairly limited experience, I don't think it matters. I think the premise behind different workers was that you or the pool could monitor the hash rate of each worker and notify you if one was down.
 
Carbon_Rod said:
So I have noticed another new "thing" with some of the newer alt coins. There are sites out there called "Faucets"... what the heck are they? I mean, I'm trying Globalcoin and on their website they even have a link to a Globalcoin Faucet site. Can anyone clue me in on what a "faucet" is? I have a hunch it has something to do with free crypto coins, no?
Click to expand...

faucets can be funded by advertisements also.
 
SunnyD said:
So here's a question...

Let's make this hypothetical even though I have it in practice. I have two miners running, A and B. They're both mining the same coin. Should the be mining under the SAME worker, or DIFFERENT workers, or does it not matter?
Click to expand...

I'd personally have two different workers. It's easier to see when one goes down or if there is issues with what the miner is hashing over extended periods of time (in the case you can track the hourly hash rates). While ultimately it shouldn't matter as you should be getting credit from it being under your account, it takes 2 seconds to set a second (or third or forth or...) worker.
 
yup -- i make at least one worker per machine (you can always break it down more if you like.

For my little 6 card operation it would be easy to tell if I had a downed worker, but for the guys that are remotely managing 10/20/30+ workers, it would be hard to see what's actually working.

The hash rate (as reported via the pool) for your workers can vary as well sometimes. Based on the shares accepted vs the time they were accepted. My living room PC hashes at a steady 1.2 to 1.3Mhash on altcoins, that number as reported by the pool can vary from 800khash to 1.5Mhash depending on how often they pool or update their stats.

Break it out by machine -- much easier to keep track of what's what.
 
Lol, funny how fedora coin actually got put on an exchange. 0.2BTC for mining like 8 hours on a joke coin, I'll take it. Best payout in that amount of time yet for my ~1mh/s
 
where to now guys? middlecoin is about to lose my 7Mh as soon as I figure out where to go with it. I got lazy the past week or so and didn't want to do any management
 
I'm intrigued by what will happen to Doge, to see if its meme status is enough to catapult it to a significant userbase. Though I have to admit, I would have rather seen "Nyancoin" or something as the "primary joke/meme cryptocurrency" - Doge is rather a new meme, compared to some of the "classics" that tend to involve cats. Maybe I shall add it to my mining.

Worldcoin looks like it could be promising, if it actually takes of. Think I'm going to hedge my bets by starting with it soon.

I haven't seen it mentioned here yet, but I've found that Anoncoin is one of the better scrypt-based cryptocurrencies out there, that offers something new and useful - additional built in anonymity and security, such as i2P/Tor integration I'd encourage everyone to give it a look - I think it is worth it, and will only become moreso with the rollout of "automatic/default use" i2P/Tor gateways and other elements.

Namecoin is another that I find interesting and useful, as it actually offers an alternative DNS system that is really quite valuable in and of itself. The only downside I feel is that it is SHA256 based if I remember, which means that it will be come vulnerable to the same ASICs that now control the mining difficulty level of Bitcoin itself.
 
Namecoin is mined at the same time as BTC by any decent pool so they are producing both NMC and BTC with the same firepower. it is a very smart setup
 
Yup - the rush for ASIC mining on SCRYPT is going to suck....

I don't have the money or the balls to sink 5 to 10K into an asic miner that may or may not get produced in time to yield any sort of profit. Especially if it's some no name company (everyone remembers the BS surrounding butterfly labs and their promises)

I still chug away at WorldCoin, Dogecoin, and sometimes Sexcoin (just because why not - i still profit way more vs mining LTC direct)

My biggest problem now is the urge to sell off what I mine now and hold it in the form of LTC or BTC. I'm fairly confident in the holding power (even if it's cyclical) vs the lesser known alts.

I'm not expecting to become any sort of millionaire but it would be nice to make some extra scratch to pay off my car (5k) and put a dent in some of the principle of my first house I just bought 99K and 30 years left to go!
 
My goal is to pay off what I've put into acquiring what I have for mining gear (yay! Finally broke 1mhash/s) which should be roughly 2 weeks at current mining and exchange rates. Then I'd like to double my hash power with a second rig, which I intend to be a bit more flexible with and do more targeted mining. Worldcoin seems like a solid long term prospect. Sexcoin has a purpose. The incumbents like feathercoin and such should be in everyone's wallets for the day a few years down the road just in case they go litecoin. Then having a mhash or so to jump around on altcoin de jure to make that quick early adopter buck with...

As long as I have something paying the electricity and bills, then flexibily to speculate, I'm good.

That's my plan.
 
collegeboy69us said:
Yup - the rush for ASIC mining on SCRYPT is going to suck....

I don't have the money or the balls to sink 5 to 10K into an asic miner that may or may not get produced in time to yield any sort of profit. Especially if it's some no name company (everyone remembers the BS surrounding butterfly labs and their promises)

I still chug away at WorldCoin, Dogecoin, and sometimes Sexcoin (just because why not - i still profit way more vs mining LTC direct)

My biggest problem now is the urge to sell off what I mine now and hold it in the form of LTC or BTC. I'm fairly confident in the holding power (even if it's cyclical) vs the lesser known alts.

I'm not expecting to become any sort of millionaire but it would be nice to make some extra scratch to pay off my car (5k) and put a dent in some of the principle of my first house I just bought 99K and 30 years left to go!
Click to expand...

While ASICs will suck for gpu mining, it will do wonders for price appreciation. However, all estimates I have been seeing is middle to end of 2014 and at a price of around $9k for 25 Mh/s--this is with putting a deposit down and waiting. If one were to use that money to buy mining rigs, you would do far better up until the point of release. Plus, no one knows what the difficulty is going to be 6-9 months from now, let alone the price of BTC, which clearly affects all alts.
 
im new to the mining setup. I did DOGE when the difficulty was under 200, then again last week when it was 400. Im now throwing both my GPU's towards LTC. For my rigs, im using just south of 700 watts in a 24 hr operation. According to http://www.electricity-usage.com/, my setup is costing me whats listed below at .08 per KW/h

Cost Per Hour: $0.056000
Cost Per Day: $1.344000
Cost Per Week: $9.408
Cost Per Month: $37.63

Should I be doing something different?
 
jjandrob said:
im new to the mining setup. I did DOGE when the difficulty was under 200, then again last week when it was 400. Im now throwing both my GPU's towards LTC. For my rigs, im using just south of 700 watts in a 24 hr operation. According to http://www.electricity-usage.com/, my setup is costing me whats listed below at .08 per KW/h

Cost Per Hour: $0.056000
Cost Per Day: $1.344000
Cost Per Week: $9.408
Cost Per Month: $37.63

Should I be doing something different?
Click to expand...

You could always mine the most profitable according to CoinChoose or CoinWarz
 
Xaeos said:
I'm intrigued by what will happen to Doge, to see if its meme status is enough to catapult it to a significant userbase. Though I have to admit, I would have rather seen "Nyancoin" or something as the "primary joke/meme cryptocurrency" - Doge is rather a new meme, compared to some of the "classics" that tend to involve cats. Maybe I shall add it to my mining.

Worldcoin looks like it could be promising, if it actually takes of. Think I'm going to hedge my bets by starting with it soon.

I haven't seen it mentioned here yet, but I've found that Anoncoin is one of the better scrypt-based cryptocurrencies out there, that offers something new and useful - additional built in anonymity and security, such as i2P/Tor integration I'd encourage everyone to give it a look - I think it is worth it, and will only become moreso with the rollout of "automatic/default use" i2P/Tor gateways and other elements.

Namecoin is another that I find interesting and useful, as it actually offers an alternative DNS system that is really quite valuable in and of itself. The only downside I feel is that it is SHA256 based if I remember, which means that it will be come vulnerable to the same ASICs that now control the mining difficulty level of Bitcoin itself.
Click to expand...

Glad someone gets it. WDC that is. Doge may shoot back up... "Doge Road". Good luck.
 
oblox said:
You could always mine the most profitable according to CoinChoose or CoinWarz
Click to expand...

One could do that, if they were aware of some of the quirks of some of the coins out there. Like the superblocks that catapult a coin to the top of the list for 5 minutes stating it will make a person $500+ a day, blah blah blah. Then after 5 minutes, it slides back down into the murky abyss way down the list again. Spots and GalaxyCoin are two that I know of that do this.

I think a person's best bet would be to read the forums, see what's popular, do some research, check out exchanges, see where the volumes are, check out pools and see what the network hash rate is. It's a double edged sword, but if the network hash rate is low, you can be sure that people are not avidly mining that coin. Likewise, if the network hash rate is high, it shows it might be popular, but the difficulty might be rather high.

Although it's not the greatest, Craptsy (Cryptsy) is the defacto gold standard for alt coins, if you made it on Craptsy, you must be popular enough to warrant it. That's where most of the volume is for a number of alts.

A lot of good names have been tossed around in this thread already. DOGE, WDC, LTC, ANC, NET, and even SXC are just a few of them... there are more. They all have their moments of good profits.
 
Heh, I finally get why people call Cryptsy Craptsy. It's been about 2 days since Give-Me-Coins sent LTC to my Cryptsy address and it is not even pending or anything on the Cryptsy site yet. &$(&$@#
 
wolfofone said:
Heh, I finally get why people call Cryptsy Craptsy. It's been about 2 days since Give-Me-Coins sent LTC to my Cryptsy address and it is not even pending or anything on the Cryptsy site yet. &$(&$@#
Click to expand...

my advise.. never have your mine site send directly to your trade site. use a wallet.
 
wolfofone said:
Heh, I finally get why people call Cryptsy Craptsy. It's been about 2 days since Give-Me-Coins sent LTC to my Cryptsy address and it is not even pending or anything on the Cryptsy site yet. &$(&$@#
Click to expand...

Well, I think the next thing to do would be to check your transactions from Give-Me-Coins, locate the one where you sent your LTC, and check to see if the address you sent to is exactly the same as the one you have for Cryptsy. You can even use a block explorer and do a search on all of the transactions containing that destination address. If the transaction is in the block chain, then Cryptsy might have it on their servers and it just hasn't been processed yet. In that case, you'd fire off a support ticket to Craptsy and they can take a look into things for you.
 
i see the 270's are still selling for normal prices. 4x450 is 2000 hash rates. for 800$ minus 100$ for the bf4 copies. For 1100$ tax and shipping I can build a full miner.
 
Vengance_01 said:
i see the 270's are still selling for normal prices. 4x450 is 2000 hash rates. for 800$ minus 100$ for the bf4 copies. For 1100$ tax and shipping I can build a full miner.
Click to expand...

well the 450 is optimistic, not all cards are created equal. I'd buy a variety of the 270's if I were you and find one that you can work with easily then just buy all you can of that card for additional builds. Too many cards REQUIRE a BIOS flash to get anywhere near expected speeds out of them.

270's haven't sold out because not many people want to go through the trouble of building and maintaining a low setup like that. I'm about to go through and do some redesigning on my rack to go away from the 2 cards per system I had designed it for
 
I've been paying attention to the hash rates of the most promising coins, sucks to say but it looks like FTC is slowly dying hash rate wise at least.

WDC is getting harder to mine -- moved over to SXC again for a bit. Average profit per day is $40 for me. Which is pretty sweet when you think about it, that pays my mortgage+HOA and still having 150 dollars left to spare.

The hardest part of all of this is figuring out a point when I want to cash out and take my profits. (Goal is 5K direct in my bank after all fees and such, that allows me to pay off my car and the last patch of gear I bought to setup a mining basket.

Of course if I sold everything off in 3 or 4 months took my 5K and ran... some of the coins I hold now could blow up, or on the other hand cease to even exist.
 
collegeboy69us said:
I've been paying attention to the hash rates of the most promising coins, sucks to say but it looks like FTC is slowly dying hash rate wise at least.

WDC is getting harder to mine -- moved over to SXC again for a bit. Average profit per day is $40 for me. Which is pretty sweet when you think about it, that pays my mortgage+HOA and still having 150 dollars left to spare.

The hardest part of all of this is figuring out a point when I want to cash out and take my profits. (Goal is 5K direct in my bank after all fees and such, that allows me to pay off my car and the last patch of gear I bought to setup a mining basket.

Of course if I sold everything off in 3 or 4 months took my 5K and ran... some of the coins I hold now could blow up, or on the other hand cease to even exist.
Click to expand...

what all are you running?
 
collegeboy69us said:
I've been paying attention to the hash rates of the most promising coins, sucks to say but it looks like FTC is slowly dying hash rate wise at least.

WDC is getting harder to mine -- moved over to SXC again for a bit. Average profit per day is $40 for me. Which is pretty sweet when you think about it, that pays my mortgage+HOA and still having 150 dollars left to spare.

The hardest part of all of this is figuring out a point when I want to cash out and take my profits. (Goal is 5K direct in my bank after all fees and such, that allows me to pay off my car and the last patch of gear I bought to setup a mining basket.

Of course if I sold everything off in 3 or 4 months took my 5K and ran... some of the coins I hold now could blow up, or on the other hand cease to even exist.
Click to expand...

What exchanges is SXC even on? I didn't come across it. I pointed some power at LTC overnight and was like oh yeah, thats why I left it...

I can do 7.5Mh when everything is staying nice and cool but the temps in the 40's are preventing me from cooling everything properly. Apparently my setup is designed to almost need it to be 10 outside. I need to find a way to pump that air in from outside faster but it'll just be back to 10 within a couple days anyway
 
Anyone have a good Doge pool. The current pool is having issues and has not found a block in over 3 days even though we had a decent amount of miners.
 
mkrohn said:
well the 450 is optimistic, not all cards are created equal. I'd buy a variety of the 270's if I were you and find one that you can work with easily then just buy all you can of that card for additional builds. Too many cards REQUIRE a BIOS flash to get anywhere near expected speeds out of them.

270's haven't sold out because not many people want to go through the trouble of building and maintaining a low setup like that. I'm about to go through and do some redesigning on my rack to go away from the 2 cards per system I had designed it for
Click to expand...
I decided to compromise. i got 2 sapphire 270's with BF4 copies. I have 2 machines that are sitting idle. This would put my mining power at 2 290's and 2 270's. Hash Rate should be around 2400-2500 depending on what i can get from the 270's.(should be able to get 475 per card)
 
Vengance_01 said:
I decided to compromise. i got 2 sapphire 270's with BF4 copies. I have 2 machines that are sitting idle. This would put my mining power at 2 290's and 2 270's. Hash Rate should be around 2400-2500 depending on what i can get from the 270's.(should be able to get 475 per card)
Click to expand...

i have some left over x-mas cash which would more then cover a 270 purchase. question is.. are they worth it? my current hash with a 280 + 6950 is 1091. I thinking i should just save a bit more and get another 280.

as for a good DOGE pool. ypool.net. I like it there.
 
Vengance_01 said:
Anyone have a good Doge pool. The current pool is having issues and has not found a block in over 3 days even though we had a decent amount of miners.
Click to expand...

dogehouse.org

super stable, I've been mining with it for nearly a week and have had payouts at 20k, they've come in like clockwork. They also give bonuses for found blocks.
 
Vengance_01 said:
I decided to compromise. i got 2 sapphire 270's with BF4 copies. I have 2 machines that are sitting idle. This would put my mining power at 2 290's and 2 270's. Hash Rate should be around 2400-2500 depending on what i can get from the 270's.(should be able to get 475 per card)
Click to expand...

let me know how you end up, I'm planning on getting some but just haven't really been willing to pull the trigger until I get some more PSU's and some risers
 
Vengance_01 said:
Anyone have a good Doge pool. The current pool is having issues and has not found a block in over 3 days even though we had a decent amount of miners.
Click to expand...

I have one NOT to try. For the love of all that is DOGE, DO NOT try doge.scryptpools.com. It was a good pool at the start. It had 30% of the network hash rate, but then started having issues with the server crashing every time a block was found. The database activity would bring the server to its knees and start kicking off miners. The guy added a new server. OK fine.

NOW, he's having problems with payouts. There are a bunch of miners (I'm included) that have not received our automatic or manual payouts. Some are waiting for as much as 250K DOGE. I didn't realize something was wrong until the next morning when my payouts had stopped... I have 82K stuck there until the Pool Op gets it sorted (if he does... if he's even working on it... he says he is, so all I can do is trust that he really is).
 
Carbon_Rod said:
I have one NOT to try. For the love of all that is DOGE, DO NOT try doge.scryptpools.com. It was a good pool at the start. It had 30% of the network hash rate, but then started having issues with the server crashing every time a block was found. The database activity would bring the server to its knees and start kicking off miners. The guy added a new server. OK fine.

NOW, he's having problems with payouts. There are a bunch of miners (I'm included) that have not received our automatic or manual payouts. Some are waiting for as much as 250K DOGE. I didn't realize something was wrong until the next morning when my payouts had stopped... I have 82K stuck there until the Pool Op gets it sorted (if he does... if he's even working on it... he says he is, so all I can do is trust that he really is).
Click to expand...

He's working on it from a beach right now.... sipping away and laughing.
 
Carbon_Rod said:
I have one NOT to try. For the love of all that is DOGE, DO NOT try doge.scryptpools.com. It was a good pool at the start. It had 30% of the network hash rate, but then started having issues with the server crashing every time a block was found. The database activity would bring the server to its knees and start kicking off miners. The guy added a new server. OK fine.

NOW, he's having problems with payouts. There are a bunch of miners (I'm included) that have not received our automatic or manual payouts. Some are waiting for as much as 250K DOGE. I didn't realize something was wrong until the next morning when my payouts had stopped... I have 82K stuck there until the Pool Op gets it sorted (if he does... if he's even working on it... he says he is, so all I can do is trust that he really is).
Click to expand...

Lol. Was lucky I got my coins back then before scryptpools went haywire. As of now using Middlecoin and multipool (for doge) to mine.
 
Darksieg said:
Lol. Was lucky I got my coins back then before scryptpools went haywire. As of now using Middlecoin and multipool (for doge) to mine.
Click to expand...

yep also "lucky." I saw the writing on the wall when he could barely keep the pool website operational and ran a few days before the payout issues started to get really serious. I mean come on guys the guy couldn't get the pool straightened out. Always keep your automatic payouts low and at the first sign of trouble switch to another pool. There's no excuse to have 250k sitting at a pool. At 40k I would have bolted.
 
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