Yep mine was BottleCAPS.  Not much life left in them now, but hoping they make a comeback.  What's not to like about an altcoin made for the apocalypse.  Or having a major Fallout connection.  

That and Baconbits, which was VERY short lived.  I think that coin lasted 2-3 days tops, and ended with a bit of controversy.  LMAO.  Launched back before Scrypt ASIC's.  Major Day 1 Hype on that coin, which drove the difficulty through the roof as everyone started mining it, and every profit switching pool was locked on as well.  Then somewhere around day 2, the profits dropped, and with a bang the multipools changed to a different coin leaving the coin with a difficulty so high it took approx 2-3 days per block, the recalculation was quite high.  A few people offered to throw their mining rigs at it to eventually push it to recalculate, but the developer offered very little of the pre-mine on the coin to the people that would help rescue the coin, so everyone dropped it.  

The price of the online storage is not based on the value of the Siacoin.  It's just the currency that is being used.  

Kind of like saying if the price someone bought a pizza for was 10,000 BTC, then a pizza should still be priced at 10,000 BTC.  

If it cost 100 Siacoins to store your files now, and the price went up 10X the current value, then the storage would only cost you 10 Siacoins.

While I admit, the Sia cloud storage isn't the greatest cloud storage solution, it is something.  99% of the coins out there are based on nothing.  Sia is one of the very few that has an actual purpose.  So I give them credit there.  They do however need to keep working on making their product easily accessible and then work on marketing.  I believe the price of the coin in in the toilet right now due to all the bigger players cashing out to buy an ASIC miner.   The same thing happened when BTC and LTC introduced their ASIC's.  And if it can take a massive coin like BTC into the toilet, it will do its damage to Sia as well.  Like BTC and LTC, the price came back around the time the miners had paid ff their equipment.  So I would expect the same for Sia.  Unfortunately, my estimate for that means the price will be in the toilet for another year or 2.

That's the problem/nice thing about trading Cryptocurrencies.  Most aren't tied to ANYTHING but a developers dream, and in a lot of cases not even that.  95% of the coins don't have any real purpose aside from being traded.  And most coins "Market Cap" has NOTHING to do with how much has been invested in a coin, and is just a time slice of the last trade vs how many coins are currently available.  They don't actually have anything to do with how much has been invested in the currency. 

Which is why they fluctuate soo much.  It is a bad thing in some regards (stress ect), but is great in alot of other ways, and probably why you were pulled into thinking about trading Cryptocurrencies in the first place.  No where else will you find stocks/ect that fluctuate so much.  Many stock market traders think a double digit year increase is a great year.  In the Cryptocurrency world, that can happen in less than a minute.  Aside from a few more base coins (BTC ect) where you can buy and hold and expect a return, most you need to watch closely.

The most important thing to remember though is that they aren't tied to anything.  So NO ONE can tell you if they will go up or down, aside from the whales and pump and dump schemes tossing the prices around. 

Far from done.  Just really going long term. 

Bitcoin and Litecoin suffered the exact same problem back in the day.  That being the announcement of ASIC's dropping the price to merely nothing.  Not that ASIC's are bad.  The problem is a lot of people are dumping all their Siacoins to afford to purchase their Obelesk ($2500) which is taking the price down along with it.  The price will remain low as well until people start paying off their ASIC's they purchased with new coins in the future.   Then finally things should settle down.  I have seen this cycle twice now, and when you consider it took down even the mighty BTC, it isn't that much of a surprise. 

Everyone is looking for a huge payout right away.  This can't happen with such a small team.  (Think No Man's Sky).  They will get it, but they need a lot of time to get everything down before they can try marketing to others.   If they rush out of the gate to try to drive up profits to soon, they again think No Man's Sky, will end up ticking off a large portion of their market, and you only really get 1 chance.

Yeah faucets are ad nightmares.  Have your screen plastered with 50 ads and get paid 3 satoshis per visit.  No thanks.

I would say the best ideas are air drops and probably using your signature block as as advertising stream.   I personally haven't "really" tried the second suggestion yet, as you usually need to complete various tasks, such as 50 posts a week.  And I don't want to post crap just to up my post count to where I get paid. 

I do have my Micro-BTC referral account listed though, but that's just a referral, so I am not forced to post any more than I want to.  You might want to try signing up for something, where you can get a referral bonus and put it as your signature block as well. 

Also, I can't say if it's legit, as I don't have anything to do with the company aside from being a customer, but if you sign up with MicroBTC, they do give you 15 kh/s for free, so its kind of like a free faucet.  With the 15 Kh/s you earn approx 1000 satoshis a day, and you never need to go back and look at an ad to earn more, so it's like free coins.  I personally have 281 Kh/s (mostly bought myself, as only 1 person I signed up has bought anything additional), and avg about 13,000 satoshis a day.   

Hi Shermand100.  I have a few Gridseeds as well, just plinking away.  I was on ipominer as well, and was getting a crapload of coins I didn't know what to do with them.  Just wanted to let you know I found this cool other pool called Prohashing.com.  It works kind of the same way as ipominer, where you don't know what coin you are mining, as they are constantly switching to the highest paying.  But the big difference is Prohashing sells all the coins themselves, then pays you in whatever coin you choose.  They have about 200 to pick from.  

I am not associated with them in any way, so this isn't an ad.  Just advice from one gridseed miner to another.


As for my largest BAG I am holding atm, it would be Siacoin.  I bought big into it right before the ASIC announcement that dropped the coin to a 1/3 of what it was when I bought.  Luckily I have faith in this coin, so I guess I am holding for the long haul.

If you are looking for difficulty for coins that aren't listed on those sites, you just need to look up the Block Explorer for the given coin you want to know about.  The Difficulty is almost always listed. 

Miners don't pick themselves.

All done by algorithm.  I have a feeling its based on transaction price, but I could be wrong. 

The problem with CPU minable coins is that everyone has a CPU. 

This might not sounds like a problem, unless your looking at it in terms of security instead of a bunch of people wanting a piece of the action in mining.  Here lies the problem.  Back when CPU coins, heck even BTC back in the day was mined with CPU's, people would create botnets that would download the code to tens of thousands of computers around the world, and they could 51% a coin, or just take the majority of the coins quite easily, and not costing them a penny to do so.  Thus paying them to create more malware/viruses to create even more botnets. 

Creating a botnet trying to single out particular GPU's is a lot more difficult, and creating ones to pick off the few people with ASIC's is almost impossible. 

There are only 2 Truly ASIC proof coins, which will never be able to be mined with ASIC's.  Well for a part of the Coin's mining.  Those are Gridcoin and Curecoin.  Both have part of the mining rewards going to people using their GPU's and CPU to do work on the @home and BOINC projects.  Both of which will never just be a simple algorithm that can be turned into an ASIC.  

Most if not all the other coins are either have ASIC's already available for their algorithm,  or are algorithms that there isn't enough money to be made to have someone create an ASIC for it yet.  But trust me, add a pile of money to any of the other coins, and someone will make an ASIC for it.  

Cryptocurrencies in their most basic nature are supposed to be so everyone has control.  But in reality, everything is controlled by greed.  Everyone wants a bigger piece of the pie, but the pie itself never gets bigger, it only gets smaller over time.  If there is good money in any non-ASIC coin,  you can bet there will be miners with hundreds if not thousands of GPU's jumping in to strip mine every bit of profit out of it.  Someone with 1-2 GPU's really doesn't need to worry about looking for coins that might be ASIC resistant.  What you really need to be watching for are coins where not many are mining (lower price), then hoping someone pumps the coin at a much later date when you have a bunch of coins stored up.  

Both BTC and LTC are mined pretty much solidly with ASIC's.  Not GPU and certainly not CPU.

However  the difference is you can still mine LTC with a GPU, and earn a bit.  But once you calculate the cost of electricity you are losing money each day so not worth it.  If you live somewhere where you don't pay for power, or shudder at your parents, and don't mind explaining why their power bill went up $50 so you could make $5, then GPU mining is still a possibility.  But best advice I can give you is to find a coin where ASIC's are not yet available, and mine them, as you can still make a profit on those coins.

LMAO.  Of all coins to think that would happen to.

Etherium is the only coin I know of that has forked, and has a Etherium and a Etherium Classic.  I'm sure if the same thing happened to BTC, they would figure it out just like ETH has.  It won't cause a collapse of BTC.  And there are more reasons than just the price that makes BTC the standard currency.  Its because it is actually being used as a currency in many places.  If ETH grows to have a higher value than BTC, which if it happens, good for ETH.  But that won't all of a sudden change all the places accepting BTC to take Etherium instead. 

A few years ago the Canadian Dollar was worth more than the US Dollar.  That didn't make 1 bit of difference in which is the dominant currency.  Cryptocurrencies are the same.  Unless some devs and others really push to make an altcoin more accepted at businesses ect than BTC, BTC will always remain the king.   Personally I would love to see someone get an alt to be a widespread accepted coin.  Right now I would think the only one that has any bit of that would be LTC, maybe Etherium, but I can't say I have seen it accepted anywhere as of yet.

I believe once all the coins are in circulation, then the fractions charged to make a transaction would be going into the rewards.  Much like how once BTC hits it's limit, it will be running off the (Currently 0.005 BTC) per transaction that is charged.  I am hoping they fix that with the fork, as that price is too high atm.  If your network is actually functioning, then it can live off the transaction fees quite easily.  If on the other hand its just a bunch of people sitting on a pile of coins waiting to trade them one day, well that network will come crashing down when there no longer is any reward.

I am thinking he is asking about Cloud Mining.

Yep there are a lot of different places to Cloud mine.  There are a lot of reports that a lot of them are scams, and there is no mining farm.  So beware of that.

Personally I use Micro-BTC for a bit extra mining.  https://Micro-btc.com/?r=Vivisector999.  I think it's legit, but I can't say for sure though, since I don't have anything to do with the company.  You can sign up for free, with no credit card ect needed and they give you your first 15 Kh/s for free, just to play around with the idea before you invest.   There re a lot of different places, and you can choose to cloud mine a bunch of various coins.  Micro-BTC claims to mine Scrypt coins, then sell and gives you the funds in BTC.  If you want Etherium or Monero ect.  You can find places like that as well.

I think Siacoin will go big, as it has a good platform (Well not BTC Big, or Litecoins big, more in the 1000 - 2000 satoshi range).  Like I was saying they have a great product, but they need to work on a few key points right now.  1 they are taking care of, which I think has a lot to deal with the big drop in price, and that is people cashing in $2500 increments of coins to purchase an ASIC miner.  This is going to cause a lot of chaos in the beginning, but they need it to resolve the #1 issue, and that is trust.  Next once they build up trust in their system.  They need to advertise the heck out of it.  I had a hard enough time looking where to store data, and I actually know about it.  Most people aren't out looking for a cheaper solution to their cloud storage.  So you need to let them know there is a cheap alternative.

 

Well you don't have to go up to a ticket booth to purchase it, LMAO.   That said, I wish Developers would stop thinking every single task/category requires 1 or multiple coins for each type.  If they want to actually succeed they need to market it towards getting an economy where it can be used for a number of different things.  Luckily Sex/Porn is probably the largest industry on the internet/in the world so it could possibly succeed, but 99.9% of these coins marketing a single thing are just not needed.  If they keep it up they will probably make Carrot Coin for people wanting to purchase Carrots at the store.  Then you will need another wallet to purchase your potatoes with Potato Coin.   And LMAO, I probably just gave someone a reason for about 300 new "needed" coins. 

 
Thats funny, because to me, the first 5 on the list mean something.  Doge, not so much

Namecoin still used for .bit web addresses.  Created to allow for Censorship resistant web addresses.  Independent of ICANN
Peercoin - The first PoS/PoW coin.  Developed by Sunny King.  
Gridcoin - Also Curecoin - Both coins used to payout for using Computation power for hashing on the BOINC and @home networks, allowing you to get paid for assisting in finding cures for Cancer, searching for Aliens (SETI) ect.
Ripple - New concept at least, not one that I got into, but at least it wasn't just another fork.
Dogecoin - Was just a joke, that never went away.  Other that that no redeeming quality.  Maybe first coin to feature a Meme as it's logo??  If that can be deemed as something?

Lol, Dogecoin is not an old coin.  Its was made during what I call the end of the first big wave of people creating piles of different alt coins.  There were even people/scripts creating coins for people for about $50 before that.  There were probably 100+ coins around when Doge finally came out.  Along with my old favorite BottleCAPs.   LMAO  Vlad was probably even on his 2nd or 3rd coin before Doge.

Some coins like FTC and Terracoin were already 51% attacked before Doge was even a gleam in some puppy's eye.

Mining is NOT fast money, if that's what you are thinking.  If you go in with 1 GPU, you might be making $1 a day at most.  But I would bet after electricity you would be looking closer to $0.25 a day on a good day.  On average the ROI for the GPU is around 4-6 months for people that know what they are doing.  If you mine the wrong coins with a GPU, you could even be losing money each day once you factor in cost of electricity.

What are you talking about???  lol.  ASIC Scrypt (LTC) miners have been available for almost 2 years now.