Is it worth to start mining now?
How do I answer this in as little words as possible.... Only if the following applies to you: -If you have an adequate fire extinguisher and alarm system. -If you have free power -If you gladly pay for all your power out of pocket only to bag coin for future sales -If you have anything of $0.01 / KW.h and under -If you have great knowledge of the offline mining industry -If you have great knowledge of computers and technology -If you're not lazy -If you have a good operating credit line -If you have have substantial upfront investment -If you have a solid mining plan -If you have place to host your really stinking hot bunch of computers -If you have adequate ventilation and/or air-conditioning This is to name probably to name the most important ones but if you have ALL the above you will do fine  |
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Thanks for your ideas in both comments GigaBit. I think your mining strategies seem completely logical. I'm not in the same circumstance because I don't mine SHA, and I only mine DGB now. I also think Digishield and multi-algorythm mining are some of the greatest advantages of DGB (they provide lots of flexibility for all our different approaches). Many other alt coins have struggled to maintain distributed mining as they have aged (it's resulted in some merged-mining and some really problematic issues with centralization) ... I don't think DGB will struggle with that problem at all. It also opens up opportunities for equipment purchases that allow diversity. Like you, I'm starting to consider warmer temperatures and how they will impact my mining, I'll probably mine mostly at night and leave them off during the days to cut down on costs. And, as you mentioned next-generation equipment ... I thinking that by mid-to-late-2015 we'll see possibilities for some really great - and super efficient - hardware that will return some hope to individual miners. But, I'm not seeing as much on the scrypt front as with SHA, so I'm just going to keep my fingers crossed, or switch if there's a really great opportunity in different hardware. Like you - regardless of my mining decisions - I completely support the coin and its future. My mine style's unorthodox I get that a lot, even in Gold, where I mine solely for an investment, not quite to live off of nor to trade... However, in Gold, I melt the dust and keep the nuggets, makes a good investment vehicle on a highly efficient wash plant. I can live off of it later once it gets to a good selling price. It's all about the Gold Rush mining spirit baby, who mines for a paycheck? An ancestor of mine struck it rich during the Cali Gold Rush only to be murdered in Mexico with mega fortune that disappeared; stolen by Uncle Sam. I'm following the same trail he did... it's kinda odd the hard life deals you sometimes. Our family was taken for around USD$200M because US banks refused to transfer to another country's bank. Whilst the rest of family hopelessly sinks money into legal battles, I'm building a new fortune. Maybe it's a crap shoot but if you ask me, the best crap shoot I ever took. One of those things that "I had the chance... I had the chance to buy Bitcoin for $2 a piece a while ago and didn't think video money would catch on. Fool me once shame on me... I won't be fooled a second time that I can guarantee you XD Way I look at any algo is only temporarily ASIC proof, either sacrifice and adapt or go sit on the fence and let the pros play. Good initiative of DigiShield, I believe other coins will use it in the future. |
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Dont know what the costs is for printing this but just a design im thinking about.   You can do it yourself  Buy a random colored t-shirt and you can buy some stickers that you can print on; they're made for that. Then you put in on a tshirt, then with a clothes iron, press the sticker onto the shirt and will be permanent. My mother sell shirts of her art work, that's how she does it and she can't keep the shirts on the shelves. I would, I mean, it's so easy anyone with arms could do it... Here, knock yourself out =D http://www.stickeryou.com/2/products/iron-on-transfers/616/ |
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Gigabit, Thank you for supporting Digibyte and the network! I'm sure that you made the right decision to step into Digibyte and i like the way you look at the future of Digibyte. Hope to see you back sometimes Thanks, it's encouraging! Let's say I'll still mine DGB a lot more during "Difficulty Hedges"... If the feeling's like I mine Bitcoin for nothing, I'll move some of my larger hashers over to Alts to feel like I mine more Not the smartest way to mine but it works for me, some of my Alt stashes are dear... selling off some more today. My power's free, so I don't care if I don't sell anything for power. It's good miner mentality to want to "Diversify Your Assets"... don't put all your eggs in one basket so to say. No one should mine and take home no loot... then you're a sucker, it's not what mining's all about... it's about striking it rich! As a Gold knowing person, I can say... there wasn't just one Gold Rush in history, there's been many... and history repeats itself. The first digital gold rush was the pioneers of Bitcoin who mined for no profit, made sacrifices and sold at $1,000... #FilthyRich. Bitcoin was the first! #CaliforniaGoldRush (~1849) we could be in the second one... #Klondike Gold Rush (~1890) - Still Rushing Today  Klondike Gold Rush never really ended... only the big companies left... see what I mean, how I base my decisions? #History Only, in this day in age, you have to figure everything out on your own, no one will/can tell you the future... that's how you win now. #History Back then, word got around fast because (lol) there was no money at all!! Only other coin where I have some vested interest is in DeM because of PoS is pretty neat and devs seem cool over there too. Besides, reason for retirement is heat related, looking to cut down a lot for this summer; they come back on next winter to save on heat. Just about 800GH/s of S1's turning off, still gonna keep S3's there for a long time; plus putting my mine in another room. One of those S1's was there since the fork and kept it there, except during shutdowns and random ICO's, might keep it for fun, it's ugly Big news coming soon!! Gonna be a big one! I still want some cheap coin but also need some more hardware soon. Going to be hard NOT to sell DGB once next-gen miners are released, since I am so low on BTC now. I'm against even selling 1 DGB |
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Remember this? XD See n00bies, why you always want to do your own research? Had I listened to that jackass, well, my wallet would be a lot thinner! premined coin it's better get away from this coin , no future but only waste our time.
Makes a good point but not really well thought of; look at the progress on mining alone: -We're at 5 algos now -At the SHA fork, price tanked to single digit sats; that's when I took notice (Same as Bitcoin, I felt bad for its misfortune) -When I started mining, yields were between 100K coins per 1TH/s daily, or, 100 coins per GH/s. -When I made the DGB mining thread few weeks ago, it was around 16 Coins / GH.s -Today, if you mine SHA256, you get ~7.5 Coins / GH.s -What was a really easy to mine coin is now becoming increasingly difficult, even for SHA miners. I will be stopping mining DGB entirely in the near future, done more than my share of mining and my DGB dedicated miners are retiring. It was addictive to get 100K payments every day.... not so much anymore XD Time for other miners to get their coins in now... Don't know what to do with aged miners? Point them to promising AltCoins like DigiByte, never knwo what will come out of it. When I started mining at 5sats, thought it was hilarious and entertaining that you could mine tens of thousands of coins per hour. Especially when I as mining for coin fractions over at Bitcoin. Although I understand the logic in Bitcoin, thought 1 full coin of crypto was the same value as any other full crypto crypto Bitcoin value is 90% marketing anyways but people accept its value as it comes. DigiByte has a marketing department, what does that tell you? They (devs) are vested in the success of DigiPayLLC as they should, not the actual coin; that's the miner's job. Move over PayPal, DigiByte's taking your throne now. I know internet marketers will love not having their funds frozen by PayPal, as other agencies also can order your funds frozen. I'd imagine DGB team will pay themselves from services offered in form of transaction fees, as what PayPal does. Note: Bitcoin went up, so did DGB... other Alts went down in value in comparison. Coincidence? |
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probably because they raised their prices up so much lol. they pissed off lots of people by doing that lol  I was thinking the same... they finally pissed off the wrong people. Wrong people with a motive and a lot of free time on their hands lol |
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Got this email from Bitmain not long ago. I see no thread for it, this is quite significant, here you are. This is the unedited email: Dear Bitmain Customer, This morning we received a concerning email from a group of hackers threatening Bitmain and our services with a DDoS attack and demanding a ransom payment to prevent the attack. Bitmain is committed to providing the best service possible to our users, and will not invite future attacks of this sort by giving in to the demands of hackers. The hackers have demonstrated that they do possess the capability to execute a DDoS and that this is not an entirely empty threat, although we do not know the full extent of their capabilities. During the next few days, Bitmaintech.com, AntPool, AntPool.com, and&nbs p;Hashnest.com may experience intermittent outages. Our team is working hard to ensure that the effects of any possible attack will be as minimal as possible. For those customers mining on AntPool, please make sure that you have configured your backup pools properly in the event that you are unable to access AntPool. For HashNest users, mining payouts will continue as usual and there is no need to worry about lost revenue. For sales, if you are unable to access our main website, you may contact us directly at info@bitmaintech.com. Thank you for bearing with us during this time. All the best, Bitmain I could not find anything else but this is pretty serious. |
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Hey Bitcoin talk.
So... As the title says.. How did you get into this wonderful world?
I made my first investment back in November 2013 into Goldcoin.
I invest around 20$ of BTC into it, and I managed to pump the value of it from 0.0053$ to 0.18$ that I sold at.
Which gave me 666.666$ profit... Such a funny number when you think about it! xD
It was not my intention to pump it like that, but I had no knowledge of the cryptoworld.
I was argueing with some users from the GLD community and I was pissed, so I sold out and the days after it crashed hard in price.
I was hooked when I got that big of a profit.
Thats how I got in.
What about you?
~Hamuki
When the price was crashing on Mt. Gox, I bought in another exchange at around the same price as today (~$250). I then bought a few S1 AntMiners and been livin' it ever since; best buy I ever made. I bought in at $150, $250, $550, $700, $850, $900 and still profit today; if you want to make some money you'll make some if you try However, I don't need to buy coins anymore, I can mine them as much as I want and my 5TH/s mine was made from nearly free money. I have yet to cash anything out but I have a quite well padded crypto portfolio. |
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I was just thinking in my head about bitcoin and it's chances of succeeding of a major worldwide currency. I thought back to here about how many posts there are with bitcoin's success, what are some ways you can think of that will make bitcoin Not succeed. The most obvious in my opinion being a hack of some sort to the blockchain.
Too many to list but let me start... -Bitcoin is too slow, it does not re-create the "cash" effect that CC's do have since you have to wait for confirmation. -Most normal people don't want to wait for confirmations, let alone the 5-25 minutes Bitcoin can take. -Also, many want to have the feel of having a full coin or a bunch of them, really tough with Bitcoin. -If you spend $100 in Bitcoin it looks like you only have a dime in your wallet. -Wallet don't tell you your $ value nor do they let you trade easily. -The 10 Minute block is too lengthy to make it fast enough to be currency. -There is not enough coins to become either national or global currency. -Most of the bag holders in Bitcoin are either elitists or crooks, this leaves little for honest and regular people. -Too many miners living off of Bitcoin; constant selling pressure. -Too many big retailers too fast; constant selling pressure. -Lack of big serious buyers. -Too many crooks -Miner Greed -The list goes on and on... I keep reading posts about people bitching about the Tx costs so let's not forget that either even though I think it's a ridiculous claim. In my opinion, 5 years from now, Bitcoin will no longer be the Crypto of choice; due to the fact that there's a lot better coins out there. Bitcoin was essentially a model for cryptos, aimed to replace Western Union and Money Orders; this was accomplished. Now a few years later and other cryptos aspire to replace Bitcoin with more features, services and perks built in. I'm not trying to bash Bitcoin, I still mine and use it, just stating the not-so-obvious. |
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Has anyone attempted to pay people in cold places to install a compact ASIC like the Spondolies SP20 to heat up their homes?
This is how I see it can work.
1. Load the ASIC up with firmware that locks out the mining pool config from being changed.
2. Provide the "heater" (ASIC) for free, and pay for 50% of the electricity running costs.
3. Effectively mine bitcoins at 50% of the normal electricity costs, with no warehousing costs.
4. During spring, have the residents return the miners and ship them to another region that is now winter.
Yeah, I call it the "Save Your Legs, Adopt a Miner" Package I offer pin-on deadbeats who owe me money. At least they get a toasty home this chilling winter, all whilst paying me back, a win-win for all! |
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What?? Just pay the miner's fee, ya cheap fucking bastard! Usually, people who make threads like this, is because, well, it was accidental, forgot to pay it. Happened to me once and took 3-4 hours; it was also accidental and was enraged with my own lack of attention. You also have to make sure you leave your wallet opened until you get the first confirmation. Bitcoin's too slow, so you have to pay to get prioritized. If you want both speed and cheap Tx's use AltCoins; that's why they're there, for cheaper and busier people. Bitcoin's a rich person's game now it seems, if you can't afford to move the money, that's just lunacy. Like paying $2 on a money order to pay a $0.99 bill. In Gold mining, you often need to pay 10% commission for the wash & assayer or invest more for the equipment. This falls under Costs of Doing Business. If you can't afford to move Bitcoin, use another coin where Tx's fees are a fraction of Bitcoin's. There, I gave you the solution if you worry about the pennies of Tx fees you give someone to help put food on their table. Don't wonder why you can't afford the Tx fees, karma's a bitch and she found you. So I have seen a few people sending bitcoins without any miner fees, and their amount eventually got sent back after a week or so.
So, what do you think the technique(or tips) for sending bitcoins without miner fees would be? This would be really helpful for sending small amounts less than BTC0.001 since the transaction fee would be more than 10% of the real amount transferred.
Though you can send coins without fees, it is not advisable as it will put the transaction in the low-priority bracket, usually taking a couple of days (or even weeks in some instances) to be completed. And also, removing the fees in a transaction is not that good as it will lessen the incentive the miners receive for processing and computing for the whole block. If you understand the economy, you're wasting your time in this forum trying to explain it. That's why more fortunes have been lost than made on this forum, no one understand shit about shit and think they know it all. |
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Unbelievable... this coin should be traded somewhere in the 100+ range. Bought myself a few mil more this morning So you were that 4Mil order on Cryptsy? If so, good on ya, that a huge chunk, that's 40 days mining @ 5TH/s. I think 100+ sats, that's an understatement IMHO... I can't believe there's no more SHA miners on it, great time to acquire lots of coins; won't ever be seen again, like the 6K coin blocks. Would be like mining 50 Bitcoin blocks back in the day... the gold rush is here now but I guess only I see it... but I mine Gold too. #GoldHistory - It repeats itself into Cryptos; it's really sadly funny. Once it gets to its true value, SHA miners be fighting for like DGB100 per TH.s - Tickles me senseless.... Gonna be something else to watch... I'll add all the algos in my sig, see if that does anything. All I keep thinking is... what if CoinWarz updated DGB to reflect the last fork... |
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The AntMiner S1 is a SHA256 miner, which I doubt DiamondCoin is SHA256 algo.
Check out CoinWarz.com to find the SHA256 coins to mine.
To let you know, an S1 is not profitable for Bitcoin mining, those were popular in 2013.
Good luck to ya.
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Fail to plan = plan to fail
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Many Altcoins will die and some won't die and here's why:
1- The Altcoin market cap is greater than Bitcoin. #CoinMarketCap
2- Altcoins are typically a lot faster than Bitcoin... by now, most Bitcoin users have switched over to a faster coin.
3- Some Altcoins devs treat their coin like a job #DigiByte
4- Some coins devs have reached some hefty investment dollars.
5- Bitcoin is becoming an alt wanna-be and some alts have better wallets.
The point of alts is to pick up the slack that Bitcoin couldn't tighten. Everyone wants Bitcoin to be more than what it is when it was never meant to be more than what it is. If anything, if Bitcoin keeps on doing whatever it wants to the code, the Bitcoin will die long before alts. Again, Bitcoin was the first popular Crypto and to this day is still the most popular. Just like SnowJet used to make the best snowmobiles 70 years ago, they're no longer in business today because other companies had more drive to success.
The coins that will die:
1- Uses a generic coin creation program #XPY
2- Uses the same spiel as Bitcoin (distributed, PoW) #BlackCatCoin
3- Devs have dropped the ball (95% of the time) or don't update #TEK
4- Have no direction, a coin created for the sake of creating one #FireFlyCoin
5- Have no marketing budget - Miners are not marketers. #Crypto Mining
For everything else, there's CoinWarz.
I recently sold all my last Bitcoin to buy in DGB at a low price. I guarantee you DGB has a much greater chance of doubling in price (50 sat now) than Bitcoin who's pretty much a rich man's game now. You want to strike it rich like the mining forefathers in any Gold Rush in history, your only chance now is via Alts because they typically follow Bitcoin's rise and fall but still have their own price independence.
Mining is a maverick's game, anyone who only mines Bitcoin's a damn fool. I've said it once and will say it again, you own the hardware, you can mine wherever you want, you have the opportunity to mine millions of full AltCoin that have a greater wider appeal and use. Stock up on easy to get coins whilst you can otherwise you'll become one of those trolls who do nothing but whine about having had the opportunity and not taking it. In the end, you will only be able to blame yourself.
Lots of experienced miners and traders here telling you Alts are often better than Bitcoin, take the hint.
When Bitcoin moons, AltCoin will move up along. When BTC went over $1,000, there were not as close to as many quality AltCoins as we got today. Some coins ride the Bitcoin wave, some seem to have their own market. I personally mine DGB because I believe it will replace PayPal... and they got a $250,000 investment a few months ago too. Lots more reasons I could sit here for days but those are my research dollars at work.
It's thing like that, you want to do your research... EXTENSIVELY!! Not just gather other people's opinion, other miners don't have your best interest at heart. For every coin I mined, I spent a few days researching their pros and cons and no coin I mined lost in value since starting mining it, whatever the coin is.
Just my wooden nickel...
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Simple, Old-School Extortion. Where's the money? You got the money? Someone owe you money? Make them install Bitcoin miners as a "Debt Pilferer" (Pilfer = steal small amounts but do it repeatedly) Works like a charm, many people don't have thousands laying around so $10 a day works for me, their bill, not my problem. You can also render debt collection services at a 25% return; someone owes your client $10,000, get it over time at a 25% or $2,500 cut. Kinda like a poor man's debt collector service since collection agencies cost heaps. You can also ask relatives to host a few miners for you; many will host them at no cost to help you and be part of the revolution. Yeah, a bit barbaric for most but so is what you ask... you're either looking at a lawsuit or a lot of ass kissing. You do what you gotta do, to me an unpaid debt is still a debt where interest accumulates over time. Thanks to Bitcoin, we're no longer running the "Trade-in Your Organs Today & We'll Remove Your Cement Shoes" program... You ask stupid questions, you get stupid answers... however, debt pilfer is very popular with deadbeats who owe me money. I get free power because the landlord owes me a lot of money and couldn't pay me in one lump sum. Last way is either Solar, Wind or Hydro (which means fluid) or via a wood gasifyer but then you need a lot of wood but still comes to less than $0.01 per KW/h, that's basically free when you live on a lumber yard. As you see, lot of ifs... solar and wind are not constant either so you need a backup. So I vote extortion and wood gasifyer; one makes you a total scum bag, the other requires a lumber yard. Pick your poison, I prefer to be a scum bag for now and use the scum bag's money to get a gasifier... I already have the lumber yard |
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Now that we know that Spondoolies is in it for the Farms and they "might" do something
for Home Miners if they see a market for it.....
Will Bitmain or ASICminer swoop in to overtake that part of the Market??? There have been plenty
of signs they both have intentions in making something that will be released this year.
Why would Bitmain "swoop" to overtake a market they already are the leader in? And by a long way. LOL http://Blockchain.info/pools |
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I will give you the same advice I tell every greenhorn who's asked me this in Gold Mining... "If you need to ask those types of questions, go on vacation instead, at least it if you're not satisfied, you can get a refund from the travel agency" In crypto mining at home and be profitably successful you need: -Good chunk of initial investment change -Cheap/free power -Knowledge of the IRL mining industry -Above average computer knowledge -Lack of a family -Lots of other hardware -Cool temps -A keen understanding of the crypto market as a whole -Back up money - Deep credit line. Then you might have a chance at turning a profit. To answer your question, no, it's not too late to start mining but realize you have a huge hill to climb and a shitload of work to do. Oh and if you can get any profit and if you need to sell more than 75% to pay bills, you shouldn't mine anyways. Best advice I can give to treasure hunters and compulsive Gold Rush lazy-ass losers, buy a miner, point it to an Altcoin and pray it gains a great value. Bitcoin's a waste of time now, only 25% of my hashing power is on Bitcoin and use most my Bitcoin to buy Alts. To be a real & successful miner you have to be a crazy-ass risk taker; the I'll get rich or die trying mantra. |
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You got what you truly deserve IMHO... you came with wonderlust, greed in your eyes but nothing in your brain and lost. I remember the time I could have bought Bitcoin @ 100 for $0.01 and thought back then, that's too expensive for not really real money. However, I didn't do my homework and lost. Simple as that. See me whining like a little girl? No! I got what I deserved! lol Shit happens, deal with it... #TheCaliforniaGoldRush This is what we are living right now, it's all about who can find the most gold, and whom can bring it back home with them. Many miners, nor their gold, ever made it back home if you catch my drift.... my ancestor was one who one time, didn't make it home once. Got an issue? Have a tissue  |
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