The Altcoin Thread

Well I shutting down everything but my dedicated 750TI miner. Power is taking away all my profits. Going to mine and convert into LTC/BTC and hold. Hope for a nice rebound.
 
Vengance_01 said:
Well I shutting down everything but my dedicated 750TI miner. Power is taking away all my profits. Going to mine and convert into LTC/BTC and hold. Hope for a nice rebound.
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See if you can find cheaper power around you. Often the big datacenters have far cheaper power, and even if you have to pay rent for keeping your rigs there, it might end up cheaper (and cooler, and less noisy). :)
 
kache said:
See if you can find cheaper power around you. Often the big datacenters have far cheaper power, and even if you have to pay rent for keeping your rigs there, it might end up cheaper (and cooler, and less noisy). :)
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I may try to use work (free power in our data center) Just gotta clear it with the boss :)
 
Clevermining result for 30 days: 0.29 BTC

4x7950 (about 1000 watts continuous for full system inc. router/modem)

$0.15 KWH (actual, after taxes)
 
JapaneseGorilla said:
Ugh, I understand everyone's complaints about cryptsy now. So terrible. I missed some big trades last night because apparently my orders didn't go through. I guess I have to make sure that the litecoins that I'm using to pay for the order actually move from my normal balance to open order. Ugh, just so slow and terrible.
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For LTC/BTC trading, I always transfer my 'stuff" to BTC-E the troll box is entertaining, and its on the bubble...... transactions atleast for me have been quick and smooth. Cryptsy is just to get rid of all my junk coins if I'm on a multipool. :)
 
Looks like Cryptsy will be launching USD pairs for BTC, LTC, DOGE, and FTC pretty soon.

Second note, there is an ongoing outreach to fork LTC to X11 on bitcointalk. Doubt it happens, but interesting to follow the thread nonetheless.
 
oblox said:
Looks like Cryptsy will be launching USD pairs for BTC, LTC, DOGE, and FTC pretty soon.

Second note, there is an ongoing outreach to fork LTC to X11 on bitcointalk. Doubt it happens, but interesting to follow the thread nonetheless.
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what's X11? new algo? I don't really see litecoin leaving scrypt but I could see it doing more of a litecoin2 type thing or basically backing a new coin. There's too much in place to actually leave scrypt
 
oblox said:
Looks like Cryptsy will be launching USD pairs for BTC, LTC, DOGE, and FTC pretty soon.

Second note, there is an ongoing outreach to fork LTC to X11 on bitcointalk. Doubt it happens, but interesting to follow the thread nonetheless.
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That would be hilariously disastrous for these people:
1zgan9j.jpg
 
mkrohn said:
what's X11? new algo? I don't really see litecoin leaving scrypt but I could see it doing more of a litecoin2 type thing or basically backing a new coin. There's too much in place to actually leave scrypt
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X11 is basically a rotation of 11 ASIC-hostile algorithms all wrapped into one.

In other words, an ASIC would literally need to turn into exactly what it is not - a swiss army knife if you will - in order to be viable as a miner.

Darkcoin is likely the most visible of the new X11 coins.

Edit: Here is that Litecoin X11 thread. They are not intending on replacing the original Litcoin chain, but creating a new fork of LTC except employing X11. These people are not the original devs of Litecoin.
 
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While I welcome the idea of measures taken to protect LTC from a mass influx of asic's -- forking the chain like that. I know what it means from a technical aspect, but not so much from a market aspect. Meaning what little LTC I hold and mine now - does that become totally useless? or is it still spendable on the x11 chain (if something like that were to come about)
 
BTC-e added CNH, this could get interesting.

As for the LTC fork, I don't see it happening. But I would laugh so bloody hard if it did, imagine KNC's Titan farm only being able to mine shitcoins :D
 
collegeboy69us said:
While I welcome the idea of measures taken to protect LTC from a mass influx of asic's -- forking the chain like that. I know what it means from a technical aspect, but not so much from a market aspect. Meaning what little LTC I hold and mine now - does that become totally useless? or is it still spendable on the x11 chain (if something like that were to come about)
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In theory, it can be spent on both forks should they continue to exist. You'd have a wallet for each fork...
 
atp1916 said:
Edit: Here is that Litecoin X11 thread. They are not intending on replacing the original Litcoin chain, but creating a new fork of LTC except employing X11. These people are not the original devs of Litecoin.
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So, basically, (without even reading that thread) there are some people that would like to fork LTC to essentially create a new LTC clone using X11. So, essentially when you boil it down... they are wanting to create another alt coin. Alrighty then.... move along... nothing new to see here. It's been done before... how is this news?

If they would like it to act like and essentially be the same as LTC, just on a different algorithm, they should really think again. This is what I've always been getting at... plenty of coins have tried to emulate the already established and successful coins and they have all failed. There was a coin released called "BTC Scrypt" because they thought they could emulate BTC but they made it Scrypt based.... and look at it now... in the friggin' basement.... FAIL.

It's like having a country and then a faction of the country says they want to break off from the country, call themselves a sovereign nation, but then base their entire economy on that of their mother country. It can't be done. It won't be the same... it won't even evolve the same. If they expect "LTC2" to have the same value and be traded the same way and have the same exposure and the same acceptance, it will not and it will fail.... guaranteed. What would make anyone back a poser or second rate knockoff of the original? Aside from letting GPU miners have something to do, what would make it a viable contender/alternative/equal to LTC?

Darkcoin is likely the most visible of the new X11 coins.
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Then Darkcoin will have more support for it than some new "LTC2" X11 implementation of LTC.
 
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I think X11 is interesting because it shows that PoW doesn't necessarily needs to consume a shitton of electricity. Cards run cooler, power on my rigs is about 40% less which is pretty huge really. Someone should make some kind of environmental themed coin along these lines but tweaked for the lowest possible power consumption.
 
LTC dev's talking about how they are not going to fork the coin (which I agree with them) and how Scrypt-N and X11 are not any better than regular scrypt. I have been arguing for some type that Scrypt-N is a fallacy. The community needs an entirely different algo if crypto is to succeed in the long term.

https://litecointalk.org/index.php?topic=18166.0
 
Pulling a measly 280 khash/s of LTC I am lucky to make $1/day and LTC has dropped to $12.77 and falling.

I should make enough to pay off my 750ti in about 170 days! :rolleyes:
 
This I think is the first true test of the resolve of all the crypto's to see where it will go from here.
 
Here's the thing to take away from any forks of scrypt coins. You are always mining BTC.

Altcoins are only vehicles by which to mine BTC by proxy using different algoritms. Usually more efficiently as well. BTC is the only crypto to have enough market cap to have a life unto itself.

With all the people that want to mine with GPU, there will always be altcoins for us to mine and trade. There just won't be 100 of them after all the crapcoins die.
 
JCviggen said:
I think X11 is interesting because it shows that PoW doesn't necessarily needs to consume a shitton of electricity. Cards run cooler, power on my rigs is about 40% less which is pretty huge really. Someone should make some kind of environmental themed coin along these lines but tweaked for the lowest possible power consumption.
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Well, that just really means your cards aren't running all that efficiently.
 
LZ_Xray said:
Here's the thing to take away from any forks of scrypt coins. You are always mining BTC.

Altcoins are only vehicles by which to mine BTC by proxy using different algoritms. Usually more efficiently as well. BTC is the only crypto to have enough market cap to have a life unto itself.

With all the people that want to mine with GPU, there will always be altcoins for us to mine and trade. There just won't be 100 of them after all the crapcoins die.
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You aren't always mining BTC... A few coins have direct COIN<->Fiat
 
LZ_Xray said:
That's interesting, since these algos run at 40% power on any card.
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Which means either the mining software hasn't been optimized to fully utilize the cards, the video cards themselves have some sort of shortcoming that doesn't allow them to be fully utilized (memory bandwidth maybe?), or some other factor that's just not letting them run as "flat out" as regular scrypt.

Do you even think before you post?
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I totally do. However, I don't always consider the ignorance, stupidity, and belligerence of those who might reply.

DracoNB said:
You aren't always mining BTC... A few coins have direct COIN<->Fiat
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Well sure, but the value of the altcoins tend to follow BTC pretty closely.
 
Parja said:
Which means either the mining software hasn't been optimized to fully utilize the cards,
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Wrong


the video cards themselves have some sort of shortcoming that doesn't allow them to be fully utilized (memory bandwidth maybe?)
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Wrong,

or some other factor that's just not letting them run as "flat out" as regular scrypt.
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Right! I'll let you figure out what that is yourself though, since that's quite a general statement.

I'll toss you a clue though. It has nothing to do with anyone's "cards not running all that efficiently"



I totally do. However, I don't always consider the ignorance, stupidity, and belligerence of those who might reply.
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It appears you already have the ignorance, stupidity, and belligerence market cornered sir. I'll let you sort that out yourself as well.
 
_r2h said:
Looks like quite a few of the supporters are creators of "scamcoins." Angry others are cutting into their profits lul.
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That and then you get people like bitcoinxpress who have huge farms and purposely fork coins so he can teach them a "lesson" This is one downside to crypto,there will always been douches who try to fuck other people over for the lulz
 
Regardless of the background of the posters and what their motives might be, I have to agree with the intention of their group.

I think one of the reasons the market is sinking is because of all of the crap out there. There are only so many investors and only so much BTC to go around. Nobody can tell what's good or what's garbage anymore. There's more garbage than good. The whole cycle of adding more garbage to the pile needs to stop.

So, in that regard, I applaud them that they brought up the topic of the need to clean house, though I don't think there's really anything they can do force the issue.
 
Carbon_Rod said:
Regardless of the background of the posters and what their motives might be, I have to agree with the intention of their group.

I think one of the reasons the market is sinking is because of all of the crap out there. There are only so many investors and only so much BTC to go around. Nobody can tell what's good or what's garbage anymore. There's more garbage than good. The whole cycle of adding more garbage to the pile needs to stop.

So, in that regard, I applaud them that they brought up the topic of the need to clean house, though I don't think there's really anything they can do force the issue.
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I certainly don't disagree with you.

Edit: To further expand on this, I think people should move to a coin they feel has a good community. Quickly mining became a get rich quick scheme which lasted for a few months, the huge rise in gear imho led to the crapcoin era and we are feeling a correction. As a side effect, I think people moved back to coins they believe in. Look at LTC now, diff in the 5k. Personally I moved away from scrypt altogether, but I kind of feel like everyone should pick "their" coin and grow their community. Just imho.
 
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_r2h said:
I certainly don't disagree with you.

Edit: To further expand on this, I think people should move to a coin they feel has a good community. Quickly mining became a get rich quick scheme which lasted for a few months, the huge rise in gear imho led to the crapcoin era and we are feeling a correction. As a side effect, I think people moved back to coins they believe in. Look at LTC now, diff in the 5k. Personally I moved away from scrypt altogether, but I kind of feel like everyone should pick "their" coin and grow their community. Just imho.
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Second this notion, but I think over the next few months espcially with certain exchanges going insolvent we will see the weeding process.
 
Protoshares has a GPU miner out: https://bitsharestalk.org/index.php?topic=2598.0

PTS estimator here: http://mrx.im/pts.php?cpm=10500

A tuned 7950 @ 1100/500 should generate 3k CPM. A 290 in windows should generate 2.6-2.7k CPM.

I make just as much as i would have on the multipools, but the algo runs far cooler and expends less electricity. My 290 rig went from ~1385w down to 1020w and my 5 card 7950 rigs are right at 1kw too. The diff is about to drop a huge amount.

Give it a shot. I am currently on ypool.
 
atp1916 said:
Protoshares has a GPU miner out: https://bitsharestalk.org/index.php?topic=2598.0

PTS estimator here: http://mrx.im/pts.php?cpm=10500

A tuned 7950 @ 1100/500 should generate 3k CPM. A 290 in windows should generate 2.6-2.7k CPM.

I make just as much as i would have on the multipools, but the algo runs far cooler and expends less electricity. My 290 rig went from ~1385w down to 1020w and my 5 card 7950 rigs are right at 1kw too. The diff is about to drop a huge amount.

Give it a shot. I am currently on ypool.
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Thanks for this. I just started mining on YPOOL and I have to admit that im a bit confused. From what I understand, PTS are now one in the same with Bitshares, and that you could convert PTS to Bitshares during a certain timeframe / block. It would appear that that time is now over, however this change was implemented around the 1.5M coin mark even through PTS has a max value of 2M. So wile PTS are still mineable how does one convert them to Bitshares and what is the current utility / value for mining PTS besides trading them for BTC?

Again, I apologize for being noobish on this, I mostly have experience with Scrypt / SHA 256 coins so I am totally out of my element here.

edit - I'm doing 2706 CPM with a single R9 290 and Stilt's BIOS. My rigs total power from the wall with Scrypt is 405W, mining PTS its at 271W.
 
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atp1916 said:
Protoshares has a GPU miner out: https://bitsharestalk.org/index.php?topic=2598.0

PTS estimator here: http://mrx.im/pts.php?cpm=10500

A tuned 7950 @ 1100/500 should generate 3k CPM. A 290 in windows should generate 2.6-2.7k CPM.

I make just as much as i would have on the multipools, but the algo runs far cooler and expends less electricity. My 290 rig went from ~1385w down to 1020w and my 5 card 7950 rigs are right at 1kw too. The diff is about to drop a huge amount.

Give it a shot. I am currently on ypool.
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I have jumped on this. I read a bit about it and didn't quite understand it but it sounds as if it might be something to be in on.

I'm only getting ~ 2.2K in win7 with Cat 14/x64 version with 7950 @1150,500. What algorithm are you using? I just let it default to 0. I'm on ypool as well.

Thanks for any help...
 
sgi02:
The way it's supposed to work is that you get a certain # of reserved Bitshares that is equivalent to the # of protoshares you have. Bitshares are supposed to be released when PTS taps out. There isn't a conversion of PTS turning into Bitshares, but rather if you have say 100 PTS, you can get 100 Bitshares "reserved". It's a clever approach to keep PTS value up and safe from a dump because those PTS holders are betting on Bitshares coming out with value.

Trailblazer:
PTS has actually been out for a while now, it's not new. It's only now gotten GPU miners after months of nothing but CPU. Use -a 1, as well as 2 threads. In other words, when you define your -t make it 0,0,1,1,2,2 etc.


The real kicker is that the diff is allegedly dropping a full third, from .03 to .01. Now, as more people hop on, i assume that will tighten up but either way, it's not gonna rise.
 
atp1916 said:
Trailblazer:
PTS has actually been out for a while now, it's not new. It's only now gotten GPU miners after months of nothing but CPU. Use -a 1, as well as 2 threads. In other words, when you define your -t make it 0,0,1,1,2,2 etc.


The real kicker is that the diff is allegedly dropping a full third, from .03 to .01. Now, as more people hop on, i assume that will tighten up but either way, it's not gonna rise.
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Thanks for the syntax stuff. It still shows - 20:18:21 : 2106 c/m - and it doesn't say what worker at that point. It shows what worker found a share. It does seem to be finding a LOT more shares with '-a 1 and -t 0,0'.

So why would the diff go down and why would it be planned? I've been around crypto for a while, but never even thought about the diff. I've just stuck with mining BTC until the ASICs came out and then went to LTC. Now I'm looking for the 'next big thing' and it seems to be that the algorithm dependent coins are going to be quickly followed by ASICs. This seems different, maybe it's not so dependent upon the algorithm?
 
atp1916 said:
sgi02:
The way it's supposed to work is that you get a certain # of reserved Bitshares that is equivalent to the # of protoshares you have. Bitshares are supposed to be released when PTS taps out. There isn't a conversion of PTS turning into Bitshares, but rather if you have say 100 PTS, you can get 100 Bitshares "reserved". It's a clever approach to keep PTS value up and safe from a dump because those PTS holders are betting on Bitshares coming out with value.
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the bitshares snapshot was taken in early march, so they are taking from that snapshot, however many PTS you had in your wallet on that snapshot is how many bitshares you get when you import your wallet when they release a bitshares wallet
 
bigted said:
the bitshares snapshot was taken in early march, so they are taking from that snapshot, however many PTS you had in your wallet on that snapshot is how many bitshares you get when you import your wallet when they release a bitshares wallet
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Dang, so looks like I'm late to the party on this one. That makes sense, since I was reading that they were proud of the algorithm being GPU resistant, yet here I was hashing away with my GPU. Apparently they don't care any more since the snapshot has been taken. Makes sense now.
 
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