Its unbelievable to me that multipool has yet to return anything on Bitcoin, does it really take this long to find a block?
Yes, it does. We just passed through the bitcoin difficulty yesterday, which means we are now officially having "bad luck" on this block. It's not uncommon to take 2-3x the average to find a block. It's not a pool issue, I check the debug.log every day for block submits. There haven't been any. Submitted shares are at ~114% of BTC difficulty right now. |
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Anyone having trouble syncing their wallet? Mines stuck. Have the following nodes
addnode=174.111.237.246
addnode=5.135.161.23
addnode=71.187.248.95
addnode=80.229.2.127
addnode=24.138.46.123
addnode=crypto-expert.com
This is the only node I can connect to

[
{
"addr" : "80.229.2.127",
"services" : "00000001",
"lastsend" : 1381542382,
"lastrecv" : 1381542384,
"conntime" : 1381542382,
"version" : 60001,
"subver" : "/ARG V1.2:0.6.3/",
"inbound" : false,
"releasetime" : 0,
"startingheight" : 78273,
"banscore" : 0
}
]
You can addnode me 198.199.103.114 seems like all the other pools are down. |
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FRC = Freicoin, not Franko. We never had Franko.
So i see you added a new alt sha256 coin, so got direct port server up yet for (PPC) yet? Don't see on the website yet. Still in the process of adding it, there will be an announcement when it's ready. |
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FRC = Freicoin, not Franko. We never had Franko.
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it's amazing how this degenerated into a pissing match
Amazing? really? on this site? that's a good point. I still think we need a FUD section of the forum +1 |
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it's amazing how this degenerated into a pissing match
Amazing? really? on this site? |
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The biggest bitcoin exchange in China Btcchina is owned by the brother of Coblee, the Litecoin dev.
Litecoin going on btcchina would be huge
I thought Coblee was a professional exchange trollbox pump/dumper now.. Is he still a Litecoin dev? |
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This is a good point. It seems sensible to think that the entire GPU-mining economy switching from BTC to LTC would skew the market. I mean, who's gonna buy all those coins?
The number of coins produced per day has nothing to do with the number of people mining. Difficulty changes ensure that the coin production rate is constant. This is pretty basic stuff. Not the number of coins per day. The dynamic of a new class of miners entering with the intention of mining LTC in order to exchange to BTC, creating persistent downward pressure on LTC/BTC rate. Maybe it's just something that sounded right in my head but is way off.... It's not a new class of miners. It's everyone mining LTC, other than a few "true beliebers" who only mine and hold.. Because there is literally *nothing else to do with it* other than trade it for BTC or hold it until some future date when you believe the value will go up. |
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Yes! More promises! Irrationality and empty threats are the lifeblood of Bitcointalk. Without them, the forum would wither!
Keep talking fuckface. |
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On GPU, mining the most profitable scrypt coins is about 4-6x more profitable than mining BTC even when you factor in the merge coins.
That's not quite right, the profitability calculators used for pool jumping don't factor in power consumption, because they don't know what your hardware is. A GH/s of GPU uses way more power than a GH/s of ASIC, otherwise these million dollar mining farms would be using GPU's to mine scrypt and not ASICs to mine BTC. I specifically said on GPU True, but that's not what's happening, most of the BTC hash rate is not GPU, therefore on your pool site where it says currently that LTC is 4.26 x more profitable than mining BTC that's misleading because it presumes the power consumption for mining both coins is typically the same, and it is not, which has a huge effect on profitability. It doesn't take power costs into account at all, it is a simple profit per hash calculation. It's only possible to mine scrypt on certain devices, and on those devices, power costs are practically identical and mining scrypt is 4-6x as profitable as mining bitcoin. Period. Whether merged mining is done or not. |
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On GPU, mining the most profitable scrypt coins is about 4-6x more profitable than mining BTC even when you factor in the merge coins.
That's not quite right, the profitability calculators used for pool jumping don't factor in power consumption, because they don't know what your hardware is. A GH/s of GPU uses way more power than a GH/s of ASIC, otherwise these million dollar mining farms would be using GPU's to mine scrypt and not ASICs to mine BTC. I specifically said on GPU |
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Lol, Vlad, I can only think of 2 coins that are currently merge mined with BTC. The main one being NMC. Scrypt coins can be merge mined as well. The big problem is no one is bothering. Just like no one is jumping to merge mine all the SHA-256 coins with BTC.
Mining BTC for profit is no longer an option for 99% of people. It has gone big business. You need to pump in tens of thousands of dollars to even have a hope of making a sliver of money before the difficulty sucks that dry as well. Not long ago (a few months) a 5 GH/s ASIC could net you a $100 a day. Now it can make you about $0.30. A 50 GH/s ASIC might bring in $3-4 a day, and those will cost you around $2500. Before long those $2500 machines will be bringing in $0.30/day. It's an endless power struggle, with the only ones profiting being the companies making the devices.
ASICs are not going to save LTC, or any of the other scrypt alt-coins. If anything it's a death sentence for them. ASIC's also don't make a coin any more secure. If anything it weakens them, as the majority of hashrate is held by a handful of people. The actual hashrate means absolutely nothing in terms of security. It's all in splitting the hashrate to as many people as possible to make it more secure. If I wanted to attack BTC (IE if I was the US gov't, or some other large entity that wanted to knock it out), All I would do is show up at ASICMINER and a few other large entities with a few military, and tell them their ASIC's are now ours or they would be killed, and you could easily 51% attack it. Lol, now see what it would take to take down something like LTC. It would take actual machines, as the hashrate is spread out so much that taking out a few large miners would probably only net you 5% of the network hashrate. Not to say it can't be done, it's just not quite as easy.
As I said before, LTC's biggest problem right now is over half the hashrate is held by ex-BTC miners, who hold no interest in LTC, other then to sell it for BTC. When the BTC price rises, they dump every coin they have for BTC. This crashes the price. As their mining rigs get older\slower, I doubt they will buy new rigs, as they will probably be using the cash to buy more ASIC's for BTC, so eventually the Scrypt coins will strengthen. But in the meantime anyone who mines\uses any altcoin is at the mercy of the sellers for the market prices.
Lol, let me give you some more merge mined coins: Namecoin, i0Coin, Devcoin, ixCoin and I believe there's 1 more. Of course, who would want to mine 6 Scrypt coins at once for ZERO extra cost when they can mine a shitty coin like Litecoin all by itself and maybe make enough money to pay electricity. Miners do this for fun not for profit, right? Keep lol'ing. On GPU, mining the most profitable scrypt coins is about 4-6x more profitable than mining BTC even when you factor in the merge coins. |
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Can we just merge this thread into the others? Two places worth of data must be a pain for you to maintain.
There are more than two  The other thread is in Alt Crypto, which many BTC enthusiasts don't bother looking at. This is just an announcement thread, not an official support thread. |
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Litecoin started dying when people switched from mining btc. That created too much supply. This was pretty much foreseeable.
This is a good point. It seems sensible to think that the entire GPU-mining economy switching from BTC to LTC would skew the market. I mean, who's gonna buy all those coins? You can't do anything with litecoin except speculate -- and with a seemingly never-ending supply of coins from all the GPU miners (and a much higher inflation rate than BTC to begin with), why would you buy in? The number of coins produced per day has nothing to do with the number of people mining. Difficulty changes ensure that the coin production rate is constant. This is pretty basic stuff. |
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It's gone up now to 151 hours, that's about 6 days  I think it would be best to remove BTC. At our current hashrate the average time to find a BTC block is about 10-15 days. The payouts are proportional and all shares will be paid. Our variance will decrease once we have more hashrate. BTC is staying. Just read that 10-15 days, so in essence we are loosing profit from other coins that could be trade for btc. while we wait on finding a btc block is that correct? We'll eventually find a block and then all the shares people submitted will be paid. Once we get more hashrate, we'll find blocks faster and payout variance will decrease. |
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Litecoin started dying when people switched from mining btc. That created too much supply. This was pretty much foreseeable.
No, LTC started dying when their devs started feeling entitled to their place as #2 behind BTC and became complacent. It also started dying back in Feb when Featherocin kicked off the 'altcoin rush' and everyone dropped their LTC projects in order to create the shitcoin of the week. Warren did a lot of great work for LTC but now it seems he's gone, was it because he got no support from the major stakeholders? There is a place for LTC but nothing that couldn't be filled by another alt. Like BTC, all they have is a head start on the rest of the herd. |
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well seems you cant set auto payout past 0, like 0.02 or something but oh well glade i finally got 1 place to mine everything. and don't have load 4 or 5 screens to check miners.
I'll be lowering the auto threshold below 1 soon in preparation for finding our first BTC block! |
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I feel bad so many of you fell for the Litecoin bandwagon.
Lol ixcoin has been around longer than LTC and has not even come close to the successes of LTC. You are just jelly. http://coinmarketcap.com/You are in the 12th spot at a value of 200K usd. Some of us hold more LTC than all of ixcoin. Who's talking about market cap? The mechanics of this new industry have changed with cheap ASICS and a much higher Bitcoin price. LTC cannot succeed in this environment so either LTC gets ASICS, Bitcoin dies or LTC dies. Those are the options. That is reality. Positive correlation. Look it up. ASICs don't mean crap. What matters is vendor acceptance i.e. having something to do with the coins other than dump them for BTC. Some altcoin devs have figured this out, others haven't. |
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The payout system is Proportional. We do not auto-convert to BTC. You can auto-sell the coins on Cryptsy that you don't want to hold in your personal wallet(s).
Auto payout is done every 5 minutes. You can set your auto-payout thresholds as low as 1 coin.
About that, what formula does the "Proportional scoring" uses? Thanks! Proportional means that your payout is proportional to the number of shares you submitted. If you submitted 100 shares and the block took the pool 10000 shares as a whole then your payout would be 1% of that block. |
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Got a few questions, First if we mine sha256 alt coin/btc will the server auto changes us to the new alt coin? Like i only need 1 address in my .bat file to mine all the alt coins you have to offer.
Second, same as above for scrypt. atm mining on hashcows, and they auto switch between alt coins and also allow use to choose to be paid in alt coin we mine or convert to btc.
Third how is payout managed, (PPS/PPLNS/DGM) once a day? are we always paid in btc no matter the coin.?
Looking forward to mine here
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Welcome Icon! If you mine on port 8888 the pool will automatically switch you between SHA-256 coins. If you mine on port 7777 the pool will automatically switch you between Scrypt coins. The payout system is Proportional. We do not auto-convert to BTC. You can auto-sell the coins on Cryptsy that you don't want to hold in your personal wallet(s). Auto payout is done every 5 minutes. You can set your auto-payout thresholds as low as 1 coin. |
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