Hate to DP, but I have a question:


Brass Tacks: What yield are people mining Paycoin actually seeing??

I could care less about all of the holier-than-thou BS and brand identification trollery. I just want to know if it would be better to take my miners off of renting and directly mine Paycoin? The yield predicitions I see on Multicoin pool jump around so wildly they make Firefly coin look a bedrock of stability.

I asked this on the GAW cagefight thread but did not get any clear answer. Who here can give me an actual yield # per TH that they have personally experienced mining Paycoin? Is the yield towards the top of the wild prediction scale or the bottom? Just trying to put my gear to the best use for the next few days.

This thread has 10 years worth of AMD/Intel type of trolldom rolled into one little lump. Tasty!  

Brass Tacks: What yield are people mining Paycoin actually seeing??

I could care less about all of the holier-than-thou BS and brand identification trollery. I just want to know if it would be better to take my miners off of renting and directly mine Paycoin? The yield predicitions I see on Multicoin pool jump around so wildly they make Firefly coin look a bedrock of stability.

Shazaam!

Guess I better set my lower end limits on my rentals higher if this keeps up.  

P.S: WTF is "LICE" magazine?? In the picture of newstand a couple posts back- upper right.  

I think this is the way to make money Cloudhashing:

Step 1: Create a snappy looking website with lots of images of clouds and neato CAD Bitcoin renderings. Make sure there are lots of exclamation marks! Also, you must use at least one image of a giant mining center.



Step 2: Rent adspace on BTC exchanges and forums. Don't forget Coinwarz! Make any claims you want about potential profits and lay them on thick and heavy.

Step 3: Collect the $ and BTC from people wanting a golden ticket out of this massive economic depression.

Step 4: Rent some short term hashing power to show customers they are getting "what they paid for". This will make them buy even more.

Step 5: Collect huge amounts of $ and BTC after the Marks are hooked in real good.

Step 6: Shut down the website, cancel the hash rentals,  and make off with the loot before the hashpower rental fees eat up a sizable amount of the take. Make sure you have a secret tunnel leading out of town to slip past the angry mob coming to lynch you.



 

I think the best thing to do would be to spend 1/3 on a Starbucks card, 1/3 on Pudding/ and 1/3 on toilet paper, because you are going to need lots of it after "enjoying" the first two.

I sure hope this dude thought ahead and built a roomy doghouse out back:



Maybe he should sell her jewelry and the TV while she is at work to "invest" as well? Interesting to note that "she" is going to work, and he, being the brains of the household is staying home to "wisely invest" all of her earnings......

Thanks for the answers, that is what I had pretty much summed up myself. I guess the question is whether to try to be one of the guys who gets a $20 buyback before the show money runs out and they slam the doors shut on the buyback window. I have been renting out my rigs these past days to the "believers" and was just wondering if maybe I was missing something and should mine some of this latest greatest scamcoin myself. Multicoin pool is showing about a 10 XPY/day potential for my 1.8 Th, and at the current going rate of $9 would  = $90, which is right about what some fools are paying me to mine today.

Good non-answer. I have already read about 1,000 of those, however.

I am looking for a simple answer to this question: Is GAW going to do a $20 per Paycoin buyback?

What is the straight scoop on the Paycoin buyback? I have read places that when Paybase comes online (Monday?) they will be pumping cash (said to be $100 Million) into the coin via a buyback of the coins mined this week @ $20 each. Is this really going to happen? I have tried reading through the imbecilic rubbish on the Hashtalk site and can not find a definitive answer to this simple question.  I know there must be an answer to this somewhere in the 300+ pages of this thread, but after an hour I have given up on ever finding that needle in the haystack. Help me out here, please.

Also, some thoughts: The whole marketing spiel of Paycoin makes me ill.
"The People's Coin"?? Give me a break, did Karl Marx come back to life get a job as marketing director with GAW?  Then it says "Bank's Hate Paycoin"  When you start reading their hype they brag about being backed by "major financial institutions" (these are called BANKS folks), so apparently banks actually LOVE Paycoin. Then the deal about having to use GAW equipment to be able to be a miner after this week is over- why not just call it GAW coin?? Especially since the name PAYcoin was already taken.

What is the straight scoop on the Paycoin buyback? I have read places that when Paybase comes online (Monday?) they will be pumping cash (said to be $100 Million) into the coin via a buyback of the coins mined this week @ $20 each. Is this really going to happen? I have tried reading through the imbecilic rubbish on the Hashtalk site and can not find a definitive answer to this simple question. Help me out here, please.

Also: The whole marketing spiel of Paycoin makes me ill.
"The People's Coin"?? Give me a break, did Karl Marx come back to life get a job as marketing director with GAW?   Then it says "Bank's Hate Paycoin"   When you start reading their hype they brag about being backed by "major financial institutions" (these are called BANKS folks), so apparently banks actually LOVE Paycoin. Then the deal about having to use GAW equipment to be able to be a miner after this week is over- why not just call it GAW coin?? Especially since the name PAYcoin was already taken.

Take a look at the 12v availability on the PSU.  Technically speaking an S3 needs ~360 watts @ 12 volts which equals 30 amps. On top of that you need a ~20% safety margin, so around 36 amps @ 12 volts minimum per unit with no overclock. Even if that 1200 watt PSU has enough 12 volts, it might not have enough PCIe connectors to rig all 3. I would go for three 500-600 watt PSUs. Again, don't just look at the total wattage, only the 12v rail(s) matter. Example: A Corsair CX500 has ~36 amps@12 volts, so it is just barely adequate. I have two S3's on those with no overclock and the PSU's make quite a bit of heat. I also have a couple running on EVGA 600 watt PSUs that have 49 amps of 12 volt and these run cool as a cucumber even with the s3's having a decent (237.5) overclock.

This post says very clearly that you should not go plopping down a huge chunk of money for miners. Seriously- If your tech level is such that you do not even have the foggiest idea what a PSU is then you have absolutely no business ordering $12k worth of miners. Might as well just get all $12k in ones and put them in a big pile, douse it good with lighter fluid,  and light it all on fire. Five seconds later, when you come to your senses and realize you have just lit a huge pile of cash on fire, try to put it out and maybe you can salvage ~half of it. Exactly the same result as ordering 12k worth of tech gear that you do not understand in the slightest, and WAY more entertaining. *Please remember to post video on Yooyube!!!

Advice: Buy one S3, plug the sucker in and try it out. If you can handle that , THEN consider getting more.

Edit to add: If you decide to get an S3, don't forget to also buy a PSU and a network cable!!    

Same here, that is a nice feature. I went ahead and pointed all 5 of my miners there for a real test.

A question I still have that I did not see answered in the FAQs is: At what times are the payouts made? It says 4 times per day, but not what these 4 times are. Are they made at UTC times, i.e. 12 midnight, 6 am, 12 noon, 6 pm UTC???

Update: I see my miners in the list, thanks for the tip Aurel. So far so good. Fingers crossed that I am not chasing butterflies here.....

P.S: A way to differentiate your miners would be to use different receive addresses for each, depending on what wallet you are using you may already have several available. I have been doing this on P2pools that I have tried.

Thank you for the quick reply. I did actually read that and I am using my personal regular wallet receive address for the username and not the one provided by Nicehash. Are the payouts done @ exact UTC times or per when the mining session started?

I suspect that is what people buying hashpower are doing, at least those who do it for any length of time. I have tried this (mining the hot alt coin of the moment)  but always end up chasing butterflies it seems. I can understand a looky-loo just wanting to try mining overpaying for a short period of time.  I pointed an S1 and an S3 there. I think I did it right. I signed up and pointed them to the stratum address for SHA-256 using my wallet address as user name, like a P2pool. IS this correct? Did I miss something? How do I monitor what is happening? Do I just wait for a payout in 6 hours??

So it seems. I read through the Nicehash website and it appears you can use any miner, although there seems to be issues with people using junkers with outlandish error rates screwing things up. My Spidey sense says that something that is too good to be true usually isn't, but if they are paying 4 times a day I don't see much risk in pointing one over there. The site is currently quoting .0886 BTC/THs/Day. The Coinwars projection is .0226. My main reservation to trying this at the moment is that Slush is having a boomer of a day (FINALLY) and I am running @ about .03/Ths/Day currently and I don't want to pull off of that tit right now. Maybe if things cool off I will give it a try. I do understand the business model (Sell to sucker and buy from me and keep a cut), all you have to do is check Ebay and see the (insert derogatory term for zero math skill person here)'s paying $5-$10/day to rent S3's. The issue there is disgruntled buyers and full on scammers though.

Is there a limit to how small of a contribution someone can make? Meaning, can I point one of my S1s there to test out these fantastical figures? 

What about Groestl or Vertcoin? Are these actually viable to mine with GPU or even CPU as they are touted to be?

100% return per year for no work? Seems legit to me.