Bitcoin Forum

So as of this morning, my 2.6MH/s RIG that used to produce avg $23/day has suddenly dropped to $13/day (based on Coinbase USD prices and me mining profitable coins shown on coinwarz and actively switching between the top coins). I am struggling to find coins that are not on coinwarz to I can mine those and be safe from the crowd impact but they are becoming harder to find. SMC, LEAF, DOGE, DGB were my favorites with all constantly returning $23 avg after electricity.

Are we feeling the impact of the DOGE community abandoning DOGE mining and pouring all over other coins? Just like the massive traffic around a sports stadium after a sold out game ends?

Can someone please make a popular coin so it fills hte void created by the DOGE demise? Contrary to what a lot of people think, it is great that we have new shitcoins come out every day otherwise the income from LITECOIN alone would've been negative already with the huge crowd doing Scrypt mining. In other words, please make shit coins like MOON and take away the hashing power so we can breath!

OR

Is this sudden increase in massive NET hash power overnight because of the flood of new AMD GPUs that are getting delivered, or becoming more in stock lately with tons more scheduled for delivery by the end of Feb at most online stores?

What you are doing now is wrong, ask yourself what happened to those who sold Bitcoin when it was $ 1-2

I have not sold and will not sell anything for at least 6-8 months, after that i can analyze what to do.

The price is low for all the coins only because too many throw them on the market as soon as they arrived 

The reason you aren't seeing as much money is probably due to the block reward halving people will quit mining due to this, and the fact that the limited supply is now gone

 Indeed.

You are right but when we compare inflation rate of coins then you will find out that inflation will be far away less than other big ones.
Do you believe that you will live 100+ years to see when supply of Doge and Bitcoin will be equal ?
In this article article there is very interesting sentence about supply bitcoin and Dogecoin:

"Do you want to take a guess at which year Dogecoin will catch up to Bitcoin in total monetary supply added?
The year 2174."

http://tuxedage.wordpress.com/2014/02/06/a-serious-analysis-of-dogecoin-or-why-i-am-all-in-on-dogecoin/

:D... so think twice what could get better value in future.

------------------------------------------------------------------------------------------------------
Today after 2 month Dogecoin is popular mark - 0 premine all had equal chances but not many believed in it.
Doge  price exploded and in 2 weeks many people jumped into train.
Do you know HOW many you will need pay for that media attention normally ?I think is much more than is current market cap of all Doges out :D seriously.
I have many coins but personally i like Doge more than others because all what Doge achieved was driven by community
no premine money for bounties and investors.
In opposite we have coins like quark mined out in 98% :D end everywhere where someone advice buying quark you find someone telling you f. that is premine scam
even it is interesting coin but bad karma is always after it.
By the way to keep Doge alive we don't need 200Ghs speed.

Yes it looks like the DOGE block reward being cut in half got you.

I agree, altcoins give miners great outlets for their hashing power.  However, I doubt you'll see another Doge.

Good Luck.

History like repeats :).
But here we need big community to repeat that that makes it so damm hard.
You can buy people by money but taking their hearths a way harder to do.

Selling or holding is irrelevant to what I'm saying.

I'm saying I was making 0.028 BTC /day and now its 0.018 BTC/day overnight (before power). There is a sudden overnight increase in hashrate.

Doge is doing way better than anybody could have ever hoped for. You were lucky to be making $23 a day, and you are still lucky to make $12. Another month and you will be down to $5, regardless of how many shitcoins are made. The money has to come from somewhere. It's not like each shitcoin is bringing in new money. A dogecoin is rare, the rest of these shitcoins are bought by the same group of speculators, and adding a hundred new coins a day isn't going to magically bring in new money.

I will be interested to see what you decide to do.  When bitcoin halved in  November 2012, a number of people mined at a loss until the price increased, but there were far fewer coins back then.  Demand for dogecoin has been nothing short of staggering for weeks, so I think we will see that reflected in the price in a few days.  Doge is still growing at about 1% a day in terms of addresses on the chain with money.  That is far higher than any other coin.  

The money sadly comes from those who spent $15,000 on BFL and other ASIC equipment and now making only 0.01 BTC/day but they still run it bcase it has no reasonable resale value.

If BTC owners decided not to buy alts then shitcoins would die.

If a DOGE - US$ trading exchange opens up then BTC would die.

Haha that's a good one mate  :D

Huh. You may want to reference a mining calculator. When KNC's Jupiter was released, it was set to hash at 500 Gh/s and you could get it for $8k. Even right now, that gets nearly 0.1 BTC/day. Scale accordingly for $15k.

Not sure how you got your numbers...

Indeed. Let me try a pun...

The hash is strong with this one.

Ha ha... :P

[Mind you, I'm only responding in this manner because of the blatant FUD of the post...]

Heh, this place needs an upvote button  :D

Agreed

It's not that Network hashrate has doubled overnight, it's that DOGE went through it's first halving. 

This is the way most Cryptocurrencies reward early adopters and/or increase the value of the coin.

The reward is random, but where the other day the reward was between 1-1,000,000 DOGE coins, it's now going to be 1-500,000 DOGE Coins.   And then while later it will be 1-250,000 DOGE coins and so on. 

What it is supposed to do is make the coin more rare, which should increase the value of the coin.  If you think Market cap, which alot of people believe in,  There use to require X number of dollars in the DOGE currency to keep it at its current value.  Now that amount required is half what it used to be, so it should allow the entire value of the coin increase.   In a perfect world/vacuum it would take a coin worth 250 Satoshi, and eventually make it worth 500 Satoshi. 

It's not dead yet, but from seeing the network hash rate and difficulty diving you would think it was.   

You guys do know there are several DOGE/USD exchanges right? I personally have used Vault of Satoshi and can vouch for it.  Bought some DOGE with dollars,  no problem.  There is another in Hong Kong called ANXPRO which deals in more currencies such as UK GBP to DOGE, but I don't know anything about them.  More are coming on stream soon. 

I didnt say network hash doubled, in fact I stated the opposite. DOGE difficulty went from 1900 to 1200 overnight so many people left mining it. Its value ALSO dropped from 270ish to 230ish. So Satoshi's assumption did not work. The value woulnt go from 250 to 500 overnight because people didnt work that hard to make it. In the future few months it may go up there but not right away.

Rarity in Crypto does not produce value. Look at the very rare 42 Coin, its crap. Look at DOGE, billions available and being produced daily and even they mentioned there will be no cap in production of it out of thin air, and STILL the value went up.

"Demise" is a bit of a overstatement, no? Squashed small-scale mining profitability, more like.

Thanks for the correction, yes my numbers were off by a good scale.

My point is in cost of ownership, depreciation in other words:

$8k in GPU RIGs, would be equal to about 4 rigs totalling 11MH/s and makes about 0.1 BTC/day
$8k in KNC Jupiter will also make 0.1 BTC /day

After electricity. BUT and here is the big BUT:

$8k in GPU RIGs is worth $5000 in two years - NET COST $3,000
$8k in ASICs is worth $1500 in two years - NET COST $6,500


Look at what happened to the $90 USB miners the 333 MH ones, they are pretty worthless now even the 1.6GH/s ones. So depreciation was almost 100% on those.

Hehe. Thanks. I try.

Yes, that is true. Those who got a lot of the USB Miners have definitely taken a loss (if they haven't gotten them early enough). Wouldn't disagree with that at all. To get to the heart of your point, yes ASICs essentially depreciate to the value of raw materials. (However, if you spent $15k, getting USBs wouldn't have been prudent and frankly you'd deserve losing your money.)

That being said if you dropped the cost of getting a Jupiter when preorders first came out (just under a year ago) versus investing 8k into 4 scrypt mining rigs at the same time, the Jupiter has made significantly more money than 4 mining rigs did. (Of course we get into the pedantic argument about risk and all that stuff. So let's not go there. There has been tons of losers. In a sense, you can say that at least with Scrypt Mining Rigs, there has been less "risk.")

On the other hand, 4 mining rigs would make up its cost. But it didn't get as much additional revenue

DEMAND is the name of the game here. Dogecoin has demand, 42Coin doesn't. /r/Dogecoin is getting around 1,000 new subscribers a day, and it is still among the highest coins in terms of trading volume. Demand is keeping up with supply, so Doge's price stays level, or at least keeps it from plummeting. Demand is NOT increasing with 42, so its price is going down.

i could never in a million years find the words to express how badly i want you and all the other people like you to leave the scene.

Your a cancer to the crypto community.

The primary reason is you feed of what can only be described and already is widely perceived publicly as nothing more than a Ponzi Scheme.
You don't have the faintest interest obviously in supporting the concept of a digital currency and are here making a mess of our scene simply out of greed.

All the gay random shit clone coins your so desperate to 'flash mine' are destroying the entire crypto situation across the globe..
Which should have been your topic title by the way.. "Wanted new coin to flash mine"
And i say this because there is no way in hell governments across the planet are not looking at Doge coin and then the rest and then
coming to the conclusion that they are ALL Ponzi schemes equally and ALL should be banned or severely regulated.. sadly i think they are right too
it may be the only way to stop you people.. and i would rather see this whole scene go down the toilet then let you fuck it up anymore !
And you can bicker about what is or what is not a Ponzi scheme but i can show you any site at random across the planet that is exposed to this crap
and all people scream Ponzi in a heart beat and you think politicians etc are smart enough or care enough to see what its about ? Of course not.. they don't care.

I said it a year ago and i say it even more so now.. you guys will ruin this scene and that is what is happening and this also is a reason for Bitcoin itself
to be regarded as a Ponzi scheme scam and also making it's value plummet.. respectable investors across the world see your kind
and dump their shit and walk away ..they do not want to be involved with greedy children out of control foaming at the mouth hard with greed.

Congrats on taking a good thing and spoiling it for ALL of us and dragging everyone down with you !
I hope it's worth it making more now than a lot long term.. too bad you people are all far too dumb to see the brutally obvious :(

And you can say what you want in return but i will remind you ALL i have since day one been looking out for the new guys that come into this scene
and prob 100+ of you have received personal and often long time consuming help from me while i drop what i am doing and bend over backwards to help you all anyway i can
EVEN if i hate the coin your using .. and you guys know it ! ..i have 99.99% refused any kind of donation in return for my time also.
AND i am looking out for new guys who comes into this scene by warning them of the dangers involved and helping them cope with the aftermath
of getting essentially ripped off by you guys as you stomp around bragging about how much Bitcoin / Money you have made while noobs are left
holding the bag and broke.. defenseless and unable to get their money back because they don't have the trading skills and experience to handle
getting stuck with a bag as you guys do what your asking about in your first comment here.. flash mine and run.. (lAKA: ponzi scheme)
And you can say oh that's fair.. and i say oh its fair i can warn these guys and help them as much as i can and maybe persuade some of you to stop being so greedy ?

Sacrifice it all for short term higher gain while ruining the scene for all of us and leaving victims in your wake ? or use your brain and let this go long term ?
Choice is yours..

PS:
You can make more than enough money with out having to flash mine scam-coins that are released daily by shadowy anonymous scammers !
If YOU can't ? Your doing it wrong..

Doge is still growing crazy fast, soon all these new shitclones coming out everyday will die, nobody will mine them for more than 2 seconds until diff goes to 0.01 because people start to realise these are worthless. Then all hash will start to be directed at the main alts again. Doge is one of these.


I have always only mined 99% of the new shitclones to cash into BTC ,doge and QRK. Mostly i never take my miners from doge.

There are few good older alts from the last wave, i will start to mine some of those as they rise in profitability again as people start to flock to the older established alt coins.

Unless you are selling right away and buying better alts then it is risky to mine the shitclones even when they get their 5 mins of 100000% profitability, you need to sell those bitches fast before they sink in value 100-500%.

Best to look at coinwarz and say....hmmmm which of these alts realy have any chance of rising or even holding their value, then make a list, from those mine the ones that are rising in profitability or keeping steady nearer the top 10-15 coins.

People say yeah mine the most profitable one then sell for the coins you like, but in reality a lot of the time it is impossible to sell for the price you want before either diff rockets or price sinks.

This 3rd wave of alts is nearly past it's peak. It will be better for everyone once it is over.

your an idiot just because dogecoin is not profitable to mine now you freak the hell out?

go mine litecoin if you want constant money.

KrugerCoins

This is the first unironic example of this mistake I've ever seen.

and THAT was the best retort you could come up with after reading that long winded rambling i did ?
jeez your really reaching arn't you lol

sorry you fail.. try again ?

U mad bro ?

upset i insulted the whole scammy greedy brat ponzi con/coin scene ? and how i pointed out they will ruin it for all of us ?

..leave

your not wanted.

me ? i'm not going anywhere and i will have a lot of i told you so's to dish out to noobs like all the morons scamming with Doge coin..

Don't be surprised if there are wide sweeping arrests for fraud and money laundering.. authorities don't usually respond to well to ponzi scheme operations
even if the have an ooooooh soooooo hilarious dog meme.jpg as an icon.

so gonna try again greedy delusional nub ? or are you far too busy flash mining the two "My Little Pony" coins that came out within last few hours ?

See my sig too, i get the feeling your one of "them" and brain washed or high off of flash mining profits like the OP.. i can help re-educate you to see the truth ;)

Time to move onto the next currency, DOGE will never seen the golden era again unless a 2nd round of MAJOR adoption occurs.

Plenty of other crypto's that actually offer something brand new, or if a brand name is all your looking for, there are a few shitcoins out as we speak that will suit your liking.

how we can make strong currency if everyone mine it just for quick profit? Mine and quick sell... oo mama it dropped to half.... what I will do?

If you're looking for a currency that really has a shot of going 'to da mune', then invest in something with a substantially smaller cap.  All you Max Keiser-esque sensationalists barking '$1 doge by 2015!!' need to have your heads examined.

only fool may think that doge will reach 1 dollar sometime. The same with mooncoin.. forget about 300 satoshi mooncoin. I am just sad that people mining and selling every new shitcoin without background and development. Stupid zomiecoin, vampire, lycancoin.. I bet that many people will mine this shit and more stupid people will buying it expensive.

Do math

$1 Doge @ (TODAY's) Currently supply = $50,000,000,000 Market cap, so essentially 5-6X bigger then bitcoin over 3 years and about as large as Apple or Google.

By the end of this year, DOGE's market supply will be an excess of 100,000,000,000 +, an incredible supply. Quote me what doge's cap will be by the end of 2014.



Use Brain


What i stated above is completely unreasonable and insanity.



If bitcoin ever hits $10,000 per bitcoin then MAYBE you might see a 1 cent doge or 500+ satoshi mooncoin. But don't hold your breath, every alt follows what bitcoin is establishing and breaking barriers with.

If bitcoin says sit, every other altcoin will lie down and go to sleep. When bitcoin says to walk, every other altcoin stands up and waits for bitcoin to walk a few feet.


There are always exceptions (pump and dump, new hype alts) but essentially this the current model and trend for the alt market.

I think the problem here is that the dogecoin community has a larger-than-usual proportion of miners who have never before mined scrypt coins or any cryptocurrency for that matter. This is partially thanks to the immense exposure caused by /r/dogecoin and a few of the newer mining subreddits that seemed to come out of nowhere overnight.

As a result the response to the block reward halving event has been less than spectacular. A lot of new miners are confused at how their instantaneous profitability calculations can be halved overnight, when in reality they should be looking at the mid to distant future value of the coin and not what they can cash out (to BTC) on a daily basis.

Now is the time where dogecoin will have to stand on its two feet as a lot of the new miners scramble to what they think - and hope - will be more profitable coins. I say good luck to them, it's all part of the adventure, but for now I see no reason not to keep mining DOGE.

apparently some people do.

i kinda cringe at people who planned to "invest" in doge for 30k lol.                                                                                                                                                                                                                                                           

http://imgur.com/KeozwAf

Hehe That is wonderful chart :P

Doge to the moon :)

Who are you talking to?

WAHH, they're ruining it for me!!!!

Hey man, go have a fucking cry about it.




What the fuck are you on about, unless you mean bitcoin?  Bitcoin exchange CEO arrested for money laundering: CEO of exchange BitInstant, Charlie Shrem.

Seriously though, if I paid for a sack of drugs using gold bars, would that make gold "bad"?  Nope, a payment method isn't good or bad, its just a payment method. Nothing more, nothing less.

For everyone looking for new opportunities, you can check our pool at http://manicminer.in

It is the first merged mining pool with scrypt coins. Let me explain you how it works. You can mine all of these coins at the same time:

LiteCoin
PesetaCoin
UnitedScryptCoin
HunterCoin
OrgCoin
CatCoin
DogeCoin
PotCoin
DigitalCoin

Basically there are some main chain coins, which are LTC, DOGE, CAT, DGC and POT. Lets say you mine at 1 Mhash/s, these power will be split in these main coins, and the pool does it in a way so you are mining the most profitable one. At the same time, you are getting the other coins for free at full speed. You would be mining Pesetacoin at 1Mh/s, Huntercoin at 1Mh/s, UnitedScryptCoin at 1Mh/s, Orgcoin at 1Mh/s and all of the main chain coins at 1Mh/s. Obviously this increases the profit by a lot. You just have to give it a try and make numbers ;)

If someone has any questions just send me a PM

Sounds too good to be true, so it probably is. What's the catch?

If this were possible, it would be well known by the community. I wouldn't trust that site.

all the idiot moron scam supporters that lack the intelligence to know when somone is talking to them that is who..

would it help if i spoke in Doge tard speak ?

All of this started with the UnitedScryptCoin, they were the first ones in creating the merged mining code for their coin. You just have to go to their thread and see, there are proofs for that. Basically how this works is reusing your shares, each share you generate you try it with the main coin, LTC for example, and then with USC.

PesetaCoin, HunterCoin and OrgCoin came later, if you are a programmer you can check their code and see the similarities with the USC. Until now merged minind wasn't good because it was only possible with solo mining using P2Pool, but then this pool was developed. I can show you the thread with all the comments, but it is not in English. If you still don't trust me I can show you the first virtual machinewe used for merged mining.
Yeseterday we finished translating the pool into English, and don't understand why it haven't been a lot more successful, because there is not a bad point in all of this, it is just reusing shares. You just have to come and see 

The catch is that he's being a bit loose with his definition of "mining at the same time". Some of those coins support merged mining (UnitedScryptCoin, PesetaCoin, HunterCoin and OrgCoin, apparently) so these will mine concurrent, but you can't mine LTC at the same time as Doge/Cat/Pot/Digitalcoin and get payouts for all, you have to pick one.

Oh, I see what you mean now. I apologize for my earlier remark, I wasn't really familiar with USC and these other altcoins.

I just focused in on DOGE and LTC and I assumed you meant that you had a way to mine them concurrently.

How are you able to see that Doge is growing at 1% a day in terms of addresses on the chain with money? I don't see this is the dogechain API.

He know Chuck Norris.

No, you mine only one of the mains (LTC, DOGE,  DGC, POT or CAT), and then the others come for free. But if you have for example the 5% of the shares of the pool you will receive 5% of every coin. Obviously you can't merge mine LTC and DOGE, because the code isn't there but, lets say you have a 1250 Khash/s mining rig, it would be like this:

LTC: You would receive it as if you were mining at 250Khash/s (1250 / 5), even if you are only mining other of the mains.
POT: You would receive it as if you were mining at 250Khash/s (1250 / 5), even if you are only mining other of the mains.
DGC: You would receive it as if you were mining at 250Khash/s (1250 / 5), even if you are only mining other of the mains.
CAT: You would receive it as if you were mining at 250Khash/s (1250 / 5), even if you are only mining other of the mains.
DOGE: You would receive it as if you were mining at 250Khash/s (1250 / 5), even if you are only mining other of the mains.
PTC: Full speed, 1250 Khash/s.
ORG: Full speed, 1250 Khash/s.
HTC: Full speed, 1250 Khash/s.
USC: Full speed, 1250 Khash/s.

Obviously we will be adding more merged mined coins if they appear. If a big one like DOGE added that code it would be great, but it isn't possible yet.
Anyway, you are mining 4 coins for free, I think at least it deserves a try, doesn't it?

Too much emotion

Try to be more rational

I dont mine Doge

If Doge could ruin the crypto movement, or flash miners ruin it, it wouldnt be worth it anyway

OMG   :o   LOL Take a deep breath, Bitcoin will be fine

WOW