Thats why POW coins are not sustainable. NXT has a real future once the jolly things get distributed, since no expensive mining farms are required. There is not enough room for all these altcoins, there is only enough room for 5 or 6 coins max i reckon. Most of these coins will be dead in 12 months, the hard thing is trying to predict what ones will be successfull. I do see some future in darkcoin, so im mining some, but i think its going to be easier to pump and dump other altcoins into darkcoin, since its difficulty is so high, i wished i mined this at the start, i could have got 400 coins a day!
But that always seemed like a cop-out to me . . in that all I can think that was said when it was started was: "Well we can't figure out how to make it decentralized so we'll just start at the end and move toward the middle." I respect the effort as a whole and hope it finds true growth, but it's basically like someone telling me: "I am rich now because I made a stake a long time before you did, and you should do so now so that you can spread the word." Just doesn't sit right with me. Just because PoW coins are susceptible to the same centralization that NXT started with doesn't mean at all that it's not sustainable. It just means that nobody's came up with a way to slow the process to a complete crawl yet. I'm not ready to say, and probably never will be ready to say, that we should just abandon a PoW concept. I would like to see a POW concept that could limit the maximum amount of coins any one miner could get per day, no matter what hashpower they throw at it, of course that would be hard to implement, but i would like to see a coin where the reward and difficulty stays constant, but not have a ridiculously high reward to start with, ie with some coins we still have miners who have millions of coins from the start, but down the track, the late miners get just a few coins per day. I think the idea behind stability shares tried to address this. And with bitcoin, i highly doubt its going to be worth mining soon, even with the newest ASICS, the power costs probably cost more than the coins earned with the price of bitcoin halving.
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Thats why POW coins are not sustainable. NXT has a real future once the jolly things get distributed, since no expensive mining farms are required. There is not enough room for all these altcoins, there is only enough room for 5 or 6 coins max i reckon. Most of these coins will be dead in 12 months, the hard thing is trying to predict what ones will be successfull.
I can't find a way for anything you said here to be valid. Please convince me. Seriously, most of these coins are crap, kittencoin, flappycoin, etc, do you really think that shops are going to have the means of accepting all these currencies? Not to mention the values on them are so low, with some coins i would need over a million coins for a cup on coffee, and we still havnt got any coins that are the speed of EFTPOS or credit card, NXT is the only currency that im aware of that can have instant confirmations. Most of these altcoins will be pumped and dumped into bitcoin, litecoin and a few other "professional" valuable coins. Im just sick of seeing all these cloned coins with a different logo and no serious development put into them, most are just different block times and the amount of coins issues that have changed. Darkcoin is one of the few coins with some serious innovation. Dogecoin is only successful because its attached to a meme and has a huge community, i see more future with doge than many other altcoins. What we need is a unified global currency, and that was the whole idea of bitcoin, and it still will be a major currency, but look how fast its dropped in value, and its still going down. I think alot of people are creating these coins in the hope it will do the same thing as bitcoin and make a quick buck, not to say that it wont happen, but with so many coins to choose from, what one is it going to be? I dont have the resources to mine them all and im sure no one else does either, the list of altcoins is growing by the day.
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Thats why POW coins are not sustainable. NXT has a real future once the jolly things get distributed, since no expensive mining farms are required. There is not enough room for all these altcoins, there is only enough room for 5 or 6 coins max i reckon. Most of these coins will be dead in 12 months, the hard thing is trying to predict what ones will be successfull. I do see some future in darkcoin, so im mining some, but i think its going to be easier to pump and dump other altcoins into darkcoin, since its difficulty is so high, i wished i mined this at the start, i could have got 400 coins a day!
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I am mining with an R9-280x and a 7970 I am only getting 2 MH per card, but from what i read i should expect 2.4 MH per card, is this correct? If so what are the ideal settings for SG miner? I wish i mined this coin from the start! Apparently with that hashrate, i would have mined 300-400 darkcoins a day!
Do you have the right / latest sgminer (based on 4.1)? https://bitcointalk.org/index.php?topic=475795.0Yes i believe so, but ill check, i downloaded mine from the official blackcoin page.
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I am mining with an R9-280x and a 7970 I am only getting 2 MH per card, but from what i read i should expect 2.4 MH per card, is this correct? If so what are the ideal settings for SG miner? I wish i mined this coin from the start! Apparently with that hashrate, i would have mined 300-400 darkcoins a day!
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How long do you have to leave your mintcoin wallet open to earn stakes? I havnt earned any stake on my mintcoins yet, but ive only just updated my wallet. I dont leave my computer on 24/7 so whats the best thing to do?
How long have your coins aged for? I usually just my wallet open for an hour or two a day. OK, well i havnt been doing that, and im unsure if the older client was doing that anyway. Do i have to have it open for 20 days in a row, or just hold the coins for 20 days? The best way to ensure you mint new coins, is once the coins you have reach the 20 day mark, leave your wallet open for 2 to 4 hours a day until they do mint. Then once they reach the next 20 days, do the same thing. There is no guarantee that they will mint exactly at 20 days, but they will mint. Thats interesting ive just looked and about 178 mint was minted, yet ive never even had the client running for the month.
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How long do you have to leave your mintcoin wallet open to earn stakes? I havnt earned any stake on my mintcoins yet, but ive only just updated my wallet. I dont leave my computer on 24/7 so whats the best thing to do?
How long have your coins aged for? I usually just my wallet open for an hour or two a day. OK, well i havnt been doing that, and im unsure if the older client was doing that anyway. Do i have to have it open for 20 days in a row, or just hold the coins for 20 days?
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How long do you have to leave your mintcoin wallet open to earn stakes? I havnt earned any stake on my mintcoins yet, but ive only just updated my wallet. I dont leave my computer on 24/7 so whats the best thing to do?
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Bitcoin will probably drop further, its bubble has already burst, its down to $490 now, I dont see much tong term stability in POW coins, the mining costs just become too high and look at all the mining farms required to keep it running. POS is the only way to go and NXT and other similar coins will have some long term future. Ive got only about 100K mint, and at 20% PA, it is not much for the first year, Its an interesting concept, but once NXT gets more distribution, i think it will take off. Check out hashrate.org or NXTp00l.org if you want to mine SCRYPT or SHA-256 coins and exchange them for NXT automatically.
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Ive got a core2 quad q9550 CPU, am i likley go get many coins with this?
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Im surprised there are no threads on this, so here you go Hashrate.org and nxtp00l.org allow you to automatically mine the most profitable SCRYPT or SHA-256 coins (nxtp00l.org offers X11 coins) and the pool will automatically exchange your coins for NXT! Its a great way to earn NXT without the hassle of manually pumping and dumping your coins and then converting to BTC etc. Hopefully these pools will help drive further distribution of NXT!
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I say that Coinye is a good candidate for this!
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50 Seconds is still still slow, we need an instant coin, something as fast as EFTPOS or Credit Card. From what i understand with the model of all these altcoins, you will get orphans with short block times.
The fast block times was the reason I invested in this coin. Any improvement on them can only help promote this coin to more people. But Digibyte, quarkcoin and mincoin are already faster than this, not to mention many other altcoins on the market such as fastcoin or NXT.
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50 Seconds is still still slow, we need an instant coin, something as fast as EFTPOS or Credit Card. From what i understand with the model of all these altcoins, you will get orphans with short block times.
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That does look an interesting coin, is pertty much resistant to ASIC mining too.
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There are so many to choose from, what coin is likely to be successful? At the moment im mining NXT be means of using an automated pool that exchanges the most profitable coins. However, there are plenty of good coins out there and i should keep a few of each on hand, the only problem is i dont have much hashing power and im considering selling my rig while the going is good, since there will be a flood of 7970's on the market then ASIC's come on the market.
Fedoracoin looks good, so does ZIET Coin, dark coin, hunter coin. I dont know what to think of peercoin and quarkcoin, they are a good coin, but NXT coin is the only coin i can see that is 100% coded from scratch and not just another "clone" coin. In turn, we now have forks of NXT such as NEM, so i wonder if i should exchange some of my coins for those? Should i hold on to my digibyte and Mint, or sell them while the going's good? IDK
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Im mining for NXT coin in a similar manner to this pool, but am interested in giving this a go, how much BTC should i expect to earn per MH/day on average?
How do you mine NXT? Oo Same way as middlecoin.com does with bitcoin The pool automatically mines the most profitable scrypt coins and pump and dumps them into NXT at the exchanges and then pays you in NXT, so not technically mining NXT, but is a good way to earn them with your scrypt rig.
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Good time to buy them while they are low i guess? were they really at $90? It will be interesting to see how this currency works out, it can only work if the people that adopt it in iceland embrace it and treat it as a valuable currency and start trading with it.
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Does this coin only stake every 1 year?
No, it stakes as soon as you have coins that are mature (+20 days) and then it stakes several times every day But do i have to keep my wallet open to earn stakes? also is it 20% per annum the amount paid for the fitst year? If so, that is not a big payout
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Im mining for NXT coin in a similar manner to this pool, but am interested in giving this a go, how much BTC should i expect to earn per MH/day on average?
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