People are losing interest. Bitcoin was clearly a bubble in April 2013. A hype. It even made it to the mainstream media. On page one of news magazines. In the media there is always another new bandwagon. The crowd wants to be entertained. The crowd wants something new.  |
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This ASIC arms race has gotten out of hand. To give Bitcoin back to the majority of Bitcoiners I hereby propose to change the hashing algorithm to Scrypt-Jane.
PS, yes I'm serious.
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Why is anyone still mining those fast coins (Digitalcoin, Worldcoin, Fastcoin), since it's way more profitable to mine coins like Litecoin, Novacoin or Feathercoin.
Not everyone is in it to just dump the coins as fast as they can earn them at market value. Perhaps some people are mining to hold longer term hoping prices go up.... Of course, if the only thing your basing your mining on is coinchoose, then I guess the above statement doesn't apply to you. There is no such thing as altruism in the real world. We all act economical (unless we are retards). Even if I believe in Digitalcoin (long term), but BTC is more profitable at the moment, I mine BTC - and buy Digitalcoin. Gives me more Digitalcoin in the end - plus I support the Digitalcoin market (increase bid side)... |
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Vircurex no longer supports BBQCoin, CHNCoin and YACoin. I guess those coins will be dead soon. Must be a bit embarrassing for btc-e that they added CHNCoin so quickly  |
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The WDC community has concluded that it is common for you to receive 60% of what your pools "reward calculator" is displaying.
So if coinchoose is showing 180% profitability to BTC, it is in fact 60% of the 180%, which is 108% actual profitability to BTC.
This is common for all coins with a faster block time. This information will be added to the WDC forum, under a stickied FAQ thread within a day or so.
That is all.
Why is anyone still mining those fast coins (Digitalcoin, Worldcoin, Fastcoin), since it's way more profitable to mine coins like Litecoin, Novacoin or Feathercoin. |
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I was mining Digitalcoin and Worldcoin for a while and was always wondering why I didn't get the payout I calculated. I always got (considerably) less.
Thanks to coinchoose.com now I know why. It's because of the high stale rate of these coins.
For example Worldcoin has "% Profitability of BTC" : 109.92%
But "Profitability % Adj for Stales" is only 73.90%
Same for Digitalcoin: "% Profitability of BTC" : 107.52%
But "Profitability % Adj for Stales" is only 81.04%
All those fast coins have this high stale problem (e.g. Fastcoin has profitability 97.21%, but adjusted for stales it's only 57.18% !).
So it's actually much more profitable to mine other coins.
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Ah! Checking it it seems like doing a 51% attack would profit a person less then 1BTC. :-p
or even less at all  I thought we have lots of people suffering from Messiah complex White-Hat hackers here that do it just for fun and educational reasons. And because they are bored. No? Are you implying killing these coins is a good thing ? No, not at all. At least not now. Let those little fledgling grow before they are tested. Give them a chance. |
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Hard to make proper comparisons, but in adjusted hashrate YaCoin is possibly bigger than FeatherCoin.
I quite like some of the ideas behind YaCoin. But it has a real sucky name (Yet Another Coin). Why would anyone wanna have such a coin? It's like YAG (Yet another girlfriend) - who would wanna have such a woman? And I don't like your new "predictable N" idea. That makes attacks especially easy ... |
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I think we will see more 51% attacks on the smaller coins in coming weeks. If it can happen to feathercoin, it can happen to many others as well.
It can happen to any coin. Still. Feathercoin is the biggest one after Litecoin. Feathercoin has 1320 MH/s. Next biggest coin is Worldcoin with 700 MH/s. It worked for Feathercoin (OK, at a little lower network hashrate), Worldcoin would be an easy target. Step by step guide: 1. Build up a hashing farm. 2. DDOS the 2-3 biggest pools. 3. Take over the network. Will soon work for Litecoin. Would also work for Bitcoin (take down BTC Guild and 50BTC -> 45% of the hashing power gone). |
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Ah! Checking it it seems like doing a 51% attack would profit a person less then 1BTC. :-p
or even less at all I thought we have lots of people suffering from Messiah complex White-Hat hackers here that do it just for fun and educational reasons. And because they are bored. No? |
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Network Hashrate:
Phenixcoin: 21.72 MH/sec
Franko: 18.28 MH/sec
AmericanCoin: 7.12 MH/sec
Nibble: 4.36 MH/sec (even my grandma has more hashing power)
Elacoin: 1.86 MH/sec (OK now that's ridiculous)
One person alone could easily do a 51% attack.
Why are those coins still traded at exchanges? Why do they still have "value"?
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Playstation 4 GPU: 18 compute units, theoretical peak performance of 1.84 TFLOPS 7970: 32 compute units, theoretical peak performance of 3.79 TFLOPS So (in theory!) a PS4 should do ~300 MHash/s mining SHA-256 coins or ~350 KHash/s mining scrypt coins. Not sure about the effects of it's unified memory architecture, etc. We'll see "in two weeks" (BFL time) or in Q4/2013 (earth time) |
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Sal, how do you calculate "Profitability % Adj for Stales"?
Thanks for adding this by the way. It's very helpful! I was always wondering why minging DGC was actually less profitable than it should be. Now I know (huge stale rate).
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Say it again, how a $2499 single won't have a roi, ...
You can advertise this mystical device in your signature as long as you want - it won't be available for a long, long time.  A Single SC available today would make you some decent money. A Single SC available sometime in 2014 (or god knows when BFL starts shipping something other than Jalapenos) will actually cost you money. |
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Fixed that for you: Sorry, not a lie. We did not have any plans to raise the prices at that time. However, in light of our increased costs due to the power usage our unimaginable inab(a)ility, we were forced to raise the price.
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Keep mining those crapcoins. Feathercoin has lost all credibility. Did I say lost? I meant never had any.
+1 281% profitability! I mine them and sell them. Anyone mining a different coin at the moment is a fool. |
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FTC news:
1. Payouts are enabled
...
Are you sure? I am well over my "Payout threshold" and nothing is happening. I have waited way more than the 25 minutes for automatic payout. "Confirmed rewards" keeps increasing and increasing. Can you please check? |
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Hi all,
When is this expected to happen?
"in 14 days" - ™Inaba |
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I usually use coinchoose and like it a lot. Accidentally I saw Feathercoin is on 340% on coinwarz.com/cryptocurrency !
Why is FTC missing from coinchoose?
There was a 51% attack and I was concerned that people would mine it but not get the resulting profitability due to slower confirms, etc. I will add it back, but took it off as a precaution. OK, thanks for thinking ahead! I guess it's save now since the hashrate is so high (some pools shows 6000 MH/s). |
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