GRP, please. They are all coins, putting a C in the three-letter code is redundant. GRP obviously at a glance means GRouP, so it is much better code to use.

Because of the limited time-window to pick up I0C, GRP, CLC and XGG by merged mining, I think block eruptor USBs were worth buying, as lookie now, already I0C and GRP have been picked up by bitparking so are now high difficulty; it was worth grabbing them before that happened. Same likely continues to apply to CLC and XGG.

-MarkM-

Yeah but USB block eruptors will more than pay their electricity bills up to something like one and a half billion difficulty, depending on your electricity cost and bitcoin exchange rates.

Are K16s so much less efficient at using electricity than the USB block eruptors?

-MarkM-

So would they have broken even if the chips had arrived on time?

It kind of sounds like they were screwed from the start even if all had happened on time?

-MarkM-

So maybe 15 minutes to 30 minutes work or thereabouts?

-MarkM-

I you don't just shut up and cancel your damn order already.

-MarkM-

Does that tell you the actual difficulty at which your electric cost matches what you bring in?

As so far all those calculators have seemed to do is go running off into the future with imaginary increases of difficulty.

There was a thread that showed for some kinds of hardware the actual difficulty where you are only just covering electricity but I don't think it listed the K16 boards.

Of course if you project exponential anything - compound interest, basically - forward it all blows up, duh, malthus figured that out long ago. So what.

-MarkM-

rsnel, do you have any hashing power of your own?

So as to be able to merged-mine while you fix up the merged mined coins?

I hope so, so that you can pick up lots of e.g. CoiLedCoin and GeistGeld while you work on them...

I hope you managed to pick up lots of I0Coin and GRouPcoin that way too before they got picked up by mmpool...

-MarkM-

At what difficulty will k16 boards not cover the electricity they use, at, say, $0.05, $0.10, and $0.15 per KWHr and current bitcoin price?

I am trying to figure out why everyone seems so sure they will never pay for themselves...

-MarkM-

I normally do not even try to watch videos, too many end up wanting me to use flash, which I do not use.

I even tried installing gnash a while back, but that left a litter of processes lying around so I got rid of it.

I prefer writing anyway, it is more random-access and read-at-your-own-pace, video tends to be sit around waiting for the slowest common denominator to get it through his head, so ends up wasting too much time.

-MarkM-

Why two steps? shouldn't the USD terade directly to BTC ?

Or do they add a step deliberately to force their XRP to seem to have some value/use?

-MarkM-

How is that merged mining?

All it seems to be doing is dividing up your mining power between pools?

Or are those pools all merged-mining pools?

If they ARE merged mining, it doesn't make much sense not to merge namecoin and a few other merge-able coins into their merge too.

I suspect though you are just scamming people into imagining they are merged mining when really their hashing is being divided among coins, not applied in full to all the coins...

-MarkM-

Copied from https://bitcointalk.org/index.php?topic=230141.msg3165333#msg3165333 :

Mine coins that are pretty near free, that are going to get picked up by pools and exchanges eventually.

For example look at I0Coin and GRouPcoin, CoiLedCoin and GeistGeld.

Not long ago you could merged mine all of them pretty much for free, raking in lots and lots of coins even with hardly any hashing power.

Now though bitparking's mmpool as added I0Coin back into its merge, and also added GRouPcoin into its merge, and I0Coin is traded on Vircurex and GRouPcoin will probably also soon be traded on Vircurex.

The number of I0Coins and GRouPcoins you get per day now is tiny compared to what it was before mmpool added them, the number of CoiLedCoins and GeistGeld you get per day will similarly drop like crazy as soon as merged mining pools add them. So for a long long time all four were great things to be mining even if you only had one or two GPUs. Now only two of them are still great. How long before those remaining two skyrocket in difficulty due to being picked up by major pools? We don't know, but until that happens you can still pick them up in nice quantities simply by doing your own merged mining.

The payoff looks like it is pretty good: the prices of I0Coins and GRouPcoins look like they will be much higher on web based exchanges than they had been over the counter and via Open Transactions.

This is similar to the fortunes made by people CPU-mining BBQcoin last year; in both cases it is simply a matter of mining while they are super low difficulty coins that are destined to get picked up some day by the masses. BBQcoin though was different from all the crapcoins that came later, because it was the early-bird of the lot. Nowadays the merged mined coins look like much better bets. Especially when you take into account you get to mine them all virtually free alongside your existing merge.

-MarkM-

Which is why the web is not a good platform for important applications like financial apps.

Better would be client-side encryption where the server does not ever see your keys, like Open Transactions uses for example.

-MarkM-

Once the "compare profitability of different coins" sites start listing a coin lots of opportunists start hitting it.

But look what has been happening with I0Coin, GRouPcoin, CoiLedCoin and GeistGeld: because they were not listed, most miners did not bother to merged-mine them. Thus those who did merged-mine them were getting many more a day than they would once the masses caught on. This probably translates to those coins turning out to be a much larger bonus percent on one's mining income than the merged coins listed on the comparison sites, once they do end up on exchanges so that one can see their profitability and adjust it for the fact you were mining it at massively lower difficulty than will be in effect once the comparison sites do get around to listing them.

Bitparking's mmpool recently picked up I0Coin again, and also picked up GRouPcoin. The number of those coins one now mines per day with any given amount of hashing power is now massively less than it was before bitparking added them to its merge.

So the thing to have done was to mine them back when mmpool was not merging them. Currently one can still do that with CoiLedCoin and GeistGeld, though for how long remains uncertain.

I0Coin looks like it is worth a heck of a lot more now that it is on web-based exchanges than it was back when you had to use Open Transactions or over the counter methods to trade it.

It seems likely the same will happen to GRouPcoin once Vircurex adds it.

The more borderline the profitability of your hardware in mining the coins everyone and their dog mines, the more useful these ones that the masses have been ignoring all this time become. Though maybe having seen what has happened with I0Coin and GRouPcoin might make this under the radar approach work less well soon for CoiLedCoin and GeistGeld because now presumably more people are more aware of how nice a profit you can make by hoarding under-the-radar coins while they are sitting there at low difficulty almost-free to merged mine.

-MarkM-

Oh good. I wonder why GRouPcoin didn't also appear though since bitparking picked up both of them at about the same time for its merged mining pool so most likely anyone mining I0Coins is also mining GRouPcoins.

-MarkM-

Shouldn't this be in some political section of the forums or something?

The middle east isn't using altcoins for all this oil crap yet so why is this here in altcoins section?

-MarkM-

Can't you just make up nice long totally random passwords to people and tell them their password instead of asking them to make one up?

I guess then though they'll just go use that same one on phishingsite.com ?

-MarkM-

Of course you could just sell your art directly for DeVCoins, if it is good enough that people will buy it why wouldn't people who have DeVCoins buy it?

-MarkM-

Half a bitcoin? That isn't easy money, its a pathetic pittance.

-MarkM-