I've cashed out buddies. Not bad for 12 hours of mining. 30 BTC..........BAM!
EDIT: I mean 32 BTC.
Thanks for selling so low. Much appreciated.  Example: Say the unprofitable difficulty is at 16,000. So in 12 hours the network could reach 4,000 difficulty. With 50 GH/s it would take about 15 days to get difficulty back to 16,000 while generating approximately 14.5 * 240 blocks * 32 coins = 107,520 coins in the process. To go through the entire cycle and go back to 4,000 difficulty it could take about 15.5 days. Current coin total is ~ 599,456 coins and difficulty is 3060. So obviously with my example I am underestimating the coin output by using 16,000 as a barrier for unprofitability. So 18,900,000 - 599,456 = 18,300,544 coins left to be mined. At a rate of 107,520 coins every 15.5 days being mined it will take (18,300,544 / 107,520) * 15.5 days = 2638 days or 7.22 years. Now given that there is likely more hashing power than 50 GH/s to be put on the network let's look at the current peak hash rate of Solidcoins since inception of say approximately 250 GH/s. That would make maturity of solidcoins at 7.22 / 5 = 1.44 years. Now given that the difficulty will likely not stay high at 16,000 for very long I suspect the 1.44 years in maturity will probably be more like 6 months if the price of solidcoins takes off. |
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CoinHunter can you please explain why http://solidcoin.whmcr.co.uk/ says there are about 598,000 coins created when your FAQ say that only 30,000 coins were mined before launch on Aug 20. At a rate of 32 coins created every 3 minutes only 15,360 coins are created per day. Since it has only been about 3 days since launch, the number of coins in existence should have been closer to 75,000. Mining 598,000 coins should have taken about 38 days. I thought the difficulty level adjusted twice daily for SC, so that coins aren't mined too fast or too slow. Coins are created on an average from now until 2022 of 3 minutes with 32 coins in a block. Judging the difficulty adjusting downward the solidcoin supply will reach the maximum much earlier than its maturity date of 2022. |
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I've cashed out buddies. Not bad for 12 hours of mining. 30 BTC..........BAM!
EDIT: I mean 32 BTC.
Thanks for selling so low. Much appreciated.
The amount of solid coins is destined to be over supplied and the maximum will likely be reached waay before 2022. Time will tell.  |
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Looks like solidcoins are less profitable to mine currently than bitcoins. Wait 12 hours and repeat =).
How did you determine that? take the current difficulty and put it into the generic standard bitcoin generation calculator to find out how long it will take you on average to create a block of 32 solid coins. Then I took the number of solid coins that I would make in a day and multiplied it by the exchange value at scexchange.bitparking.com and found out that 4 GH/s would produce about 1.7 BTC which is less than I would make if I was mining at say deepbit.net. There ya go! I appreciate the info how does the bitcoin calculator take into account the faster rate of block generation of solidcoin (20 blocks/hr) compared to bitcoin (6.79 blocks/hr)? Keep in mind Gigahashes are Gigahashes. What makes blocks go faster in solidcoin is the structure of how difficulty adjusts. It is identical to bitcoin in terms of how many blocks are produced by how many gigahashes but they way difficulty recalculates and adjusts over time is another story. |
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As I said before, I cannot guarantee that when someone tells me, "We'll be there!" ...that they actually WILL be there. Every one of those news organizations told me that they would be there, or that they "were very interested in" being there. The Press that was in attendance -- that I know of -- includes: - Wired Magazine
- The New York Observer
- Scientific American
- IEEE
- Gawker Media
...and a few others I can't remember right now. ALSO... According to Manny, the manual head count done during the Keynotes was approximately 120 - 140 people. However, many people came Thursday through Friday and could not be there on Saturday. Also, many people flowed through during the day, and were out in private meetings during those times... And, some key people did not arrive until Sunday... for example, Jered from TradeHill could not arrive until Sunday. So, my guess is that we had a total of 150+ people, in all. HOWEVER... As I have said many times before.... It's all about the QUALITY.... not the QUANTITY... or the people. If you wonder how the event really went.... ask someone who was actually there. And... JUST WAIT till you see what we have in store for Pattaya.... What is "Pattaya"? |
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Looks like solidcoins are less profitable to mine currently than bitcoins. Wait 12 hours and repeat =).
How did you determine that? take the current difficulty and put it into the generic standard bitcoin generation calculator to find out how long it will take you on average to create a block of 32 solid coins. Then I took the number of solid coins that I would make in a day and multiplied it by the exchange value at scexchange.bitparking.com and found out that 4 GH/s would produce about 1.7 BTC which is less than I would make if I was mining at say deepbit.net. There ya go! |
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Looks like solidcoins are less profitable to mine currently than bitcoins. Wait 12 hours and repeat =).
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Testnet is is used to generate some coins on an alternate block chain so that you can test your applications to see if they work without risking real bitcoins, it doesn't change any of the rules that govern bitcoin.
The bitcoin changes must be tested somewhere too The people of multicoin also has test networks and they change parameters. There's no need to trade the new currency for bitcoins for testing it. Yet people have been trading them for the past two weeks now. Somehow I keep ending up with those bitcoins at the end of the day. |
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namecoin has a use.
your dreaming if you think it will get anywhere 0.0x
+1 Agreed. Ixcoin has no added usage except inflating the amount of virtual currency that exists. |
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Is there a particular thread where one can monitor any new forks that may be coming online?
If there are buyers for these new coins, I will certainly mine them and sell them for a premium in the beginning.
What about WhoreCoin, Ponzicoin, and ShizaCoin?
LOL
The only formula for success is to smash it with a high powered farm at very low difficulty and sell like crazy during the first 24 hours as the idiots snap it up like Jonestown Kool Aid. Ixcoin, I0coin and SolidCoin have proved this model. +1 AGREED! |
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Actually I only have 4 GH/s in hardware.
Hmm, ok. Then I guess you have 6990's or something like that. Either that or very low latency. How many SolidCoins did you manage to get? I got about a thousand in 12 hours on 1gh. Got two 6990's and nine 6950's. Mined about 25,000 solid coins. |
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I've cashed out buddies. Not bad for 12 hours of mining. 30 BTC..........
EDIT: I mean 32 BTC.
I think I've made 1/64th of that, only a piddly 800Mhash here/ I made about 2BTC in 16 hours on 1 ghash. smoothie must be sitting on quite the hardware setup. Actually I only have 4 GH/s in hardware. |
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ixcoin is winning right now at 0.001
i0coin is dead at 0.0003
solidcoin at 0.0009
wow they all imploded
it was fun while it lasted
LOL they all took a nose dive really quickly lol. |
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It is like trading gold for rocks. If enough idiots want to trade gold for rocks then its more profitable to mine rocks.
LOL...i like that analogy!  |
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Got my 100 SC. Thanks! ~Patiently waiting for mine~ I've cashed out buddies. Not bad for 12 hours of mining. 30 BTC.......... BAM!EDIT: I mean 32 BTC. |
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I missed i0, but cleaned up with 600 BTC on Ixcoins.
You made 600 BTC trading Ixcoins?!! Get the fuck out. Yeah and I made 222btc with ixcoins as well. This time around I made 30BTC in solidcoins today. |
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SolidCoin traded at a high of .49 BTC, just a few hours later it's worth .0014 BTC
Pretty much the same as I0coin and Ixcoin now.
Just waiting for the next "Cryto Currency of the Week"
DoubleC did that trade as a first test trade. He bought 1 Solidcoin. So i wouldn't use that as the high. |
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I would say of all the forks so far I like this one the best, because I felt the confirmation time/difficulty changes is the biggest weakness of bitcoin, so will be interesting to see what problems might arise. I do like how these forks allow us to test "what if" scenarios...
Well, for using in snack machines, block chain / miner approach will never be fast enough. So I don't think any bitcoin fork will fix this weakness. On the other hand, conventional instant or near-instant payment methods (cards, SMS, bills, etc.) do solve it and as a plus, keep the block chain much much smaller. Now, 10 minutes is, I think, pretty optimal. Retargets every two weeks? Maybe it would be better if it was shorter, but we don't need a fork to fix this. We do need a fork to test it though. Changes need testing. |
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[...]
My problem with these new currencies is that they don't bring anything new. They are schemes designed to extract wealth from the naive and nothing more. Invent something that isn't just a rip off of the same ideas and I'll consider using it. It is entirely possible that something will replace bitcoin but bitcoin is not going to be replaced with a clone of itself with only minor tweaks. I never mentioned gambling at all so I'm not sure why you mention that, but I do consider it just a way to extract money from the stupid and/or addicted. That's not really related to me taking the piss out of all these alternative currencies though and is not limited to gambling with bitcoin. They do bring insights into how the block works with different parameters for difficulty adjustment and also for block rewards and security. They may all die but they give insights that none of us would be able to pass on without utilizing them as a test bed for what may become the next bitcoin currency (competitor to bitcoin). |
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I just thought. All the large miners and the pools could collude to shutdown at the sametime.
Yup, but still more decentralized than just having one huge pool leave and then a ripple effect. |
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