Thanks for responding - I will have to give it a try!
No problem! Feel free to voice any concerns or future questions you have,  . You can pm me anytime as well! |
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This would take off more if you waited until you were a regular Member or even a Full Member before offering an escrow service.
Not only that... this looks like one of those "I want a 1000 BTC loan so start loaning me 0.1 BTC, then 1 BTC, then 10 BTC... I'll be sure to pay them all back!" with the intention of scamming massive amounts once credibility is established. |
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For example, I could mine 4664 Alphacoins with a gpu rig according to coinwarz. If I wanted alphacoins and instead mined Fastcoin, when I converted the FST to BTC and bought Alphacoin I would have 8710 Alphacoins. Obviously the price could change before everything is said and done, but it would need to move pretty far to make any difference as far as accumulation of lower profitable coins are concerned.
In any case, it's really up to personal preference. Regardless of the method chosen, you have the risk all the same. It's up to you how you feel about each course of action; if there was a single "best," I'm positive everyone would be using it and it would no longer be profitable anyways. |
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What you are referring to as "playing smart" could also turn into an indefinite waiting game for these alt coins to reach a higher value. I understand what you are saying, but exchanging the alts to btc while mining profitability is high is the safest way for those who are most interested in BTC.
Risk vs. reward. Everyone has to balance them on their own. Some of us keep up with the news of the various coins and can make educated guesses as to when and how they will fluctuate accordingly. If you're just buying a coin in the hopes something may change later, you're doing it completely wrong. In some cases, automatic trading is a better option than manual trading. It all depends on how savvy you are. I am in total agreement with you, but you may appreciate this. Since difficulty fluctuations sometimes are spread out pretty far on some coins, mining productivity is astronomical for only a short period of time, and then retargets to super unproductive. For example, Frankos were pretty high up on the list on coinwars when the difficulty was 0.6ish. I made an educated guess that a lot of miners were just going to mine and dump, and since I would only be able to mine at that productivity for a couple hours, I was more than happy to take the middlecoin.com auto converted BTC and place a handful of buy orders as low as 0.0057 which all completed. As far as my wallet is concerned, it is as if I was mining Frankos at 0.67 difficulty for a majority of the day, instead of just the 2 hours. It all depends on how good you are at keeping up with the market, really. I've made as much as 200% more by mining coins that weren't even near the highest profitability, then holding them until they tripled+ in value before letting go. Profitability is counted as only how many you can mine NOW and their value NOW. If you know a coin is at, say 150% and you also know something is about to jump it up in value to 3-4x its current value, mining it is actually at a 450%+ profitability, despite what the calculators claim. There's risk there though. Wouldn't it be smarter to mine the most profitable coin and use that to buy more of your lesser profitable coin? Then you're hoping that in the time it takes for you to get converted, the price doesn't jump up. Along with this, as you buy the coins you are boosting up their price, meaning you do the opposite of what you want (by getting cheap and selling for more). This only works if you are wanting to buy small quantities. Once you start cutting into sell walls you can easily price yourself out of the coins. |
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What you are referring to as "playing smart" could also turn into an indefinite waiting game for these alt coins to reach a higher value. I understand what you are saying, but exchanging the alts to btc while mining profitability is high is the safest way for those who are most interested in BTC.
Risk vs. reward. Everyone has to balance them on their own. Some of us keep up with the news of the various coins and can make educated guesses as to when and how they will fluctuate accordingly. If you're just buying a coin in the hopes something may change later, you're doing it completely wrong. In some cases, automatic trading is a better option than manual trading. It all depends on how savvy you are. I am in total agreement with you, but you may appreciate this. Since difficulty fluctuations sometimes are spread out pretty far on some coins, mining productivity is astronomical for only a short period of time, and then retargets to super unproductive. For example, Frankos were pretty high up on the list on coinwars when the difficulty was 0.6ish. I made an educated guess that a lot of miners were just going to mine and dump, and since I would only be able to mine at that productivity for a couple hours, I was more than happy to take the middlecoin.com auto converted BTC and place a handful of buy orders as low as 0.0057 which all completed. As far as my wallet is concerned, it is as if I was mining Frankos at 0.67 difficulty for a majority of the day, instead of just the 2 hours. It all depends on how good you are at keeping up with the market, really. I've made as much as 200% more by mining coins that weren't even near the highest profitability, then holding them until they tripled+ in value before letting go. Profitability is counted as only how many you can mine NOW and their value NOW. If you know a coin is at, say 150% and you also know something is about to jump it up in value to 3-4x its current value, mining it is actually at a 450%+ profitability, despite what the calculators claim. There's risk there though. |
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Update! Now accepting PXC and also accepting BTC securities (bonds, funds, stocks)!
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Update! Now also accepting BTC securities (bonds, funds, stocks)!
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I disbursed a payment. The transaction details are not as I expected them to be. Funds were pulled from some of my addresses that bitcoind is not supposed to link with the account, and the transaction fee is not what I requested. I don't see anything improper in the command that I issued, but now there has to be some accounting adjustment. I will puzzle over this and issue the adjustment next Tue. It should not affect the amount of bitcoin that you receive, only the addresses that are inputs to the transaction. I really want this to stay easy to understand. My approach to pushing back against the negative vibes in the bitcoin world is to be transparent, and civilized in my language. This is the command that I issued. ~/.bitcoin$ bitcoind sendmany "Asic #2 Income Sharing Payments" '{"18RKachrcvzBHFdwzjgGK19amp77pkNBKz":3.29314456, > "18qDhkReMuFfciHshdpQhr3QhXZp82aWon":2.65979400, > "17LBCmWzVjJFVuLTWBM7GPSUkgu1e3MruU":2.65979400, > "1BJa5r7bq3xEuAfmKmiLFUmqMK8NwhszLB":0.53195880, > "12fLsHddqAhjZEc6HEAxMTWPe4vgR3f1uT":0.42556704, > "14Zqn3i1iDJzmkFCRjVqDe4YqgkrrmyEYd":0.10639176, > "15B1jLCFXFiWwkreAo3bEMeMMjH435Q9cA":0.10639176, > "18NQjpGcUdjMnqgCCz3F3SZcQfMyCi5Kyv":0.10639176, > "1CBkQc83dMGVAaseYM1TZRLjeBGAcsd4Z1":0.10639176, > "1cCXNG5mNFkErBWtCLaVLA9fZrGAzFCB1":0.10639176, > "1CwLwBgR16urEkcL5Su3LkzA7RYYqyjHy4":0.10639176, > "1Fm1mN7o16Te6PrkpgirWzZ2daibW9jdUD":0.10639176, > "1Fu4JaynbQrtkSPN73uoDqEPAxyzVfsqLu":0.10639176, > "1LktD4cXPmcJ75Sd2WgRs69rBZqNQd5L4P":0.10639176, > "1MLFkF3dPwNzwBsw6DFUpXjn78RKwwhVuJ":0.10639176}' These are some addresses in the account: ~/.bitcoin$ bitcoind getaddressesbyaccount "Asic #2 Income Sharing Payments" [ "18bLcVkviErQi75zB8X39jZXxHNpSZggdC", "1Hv1Rz1zZS7CSKxUxWBVdcaVXGQ4UYUi7r" ] This is the account balance before the disbursement: ~/.bitcoin$ bitcoind getbalance "Asic #2 Income Sharing Payments" 12010.63917699 :~/.bitcoin$ bitcoind getbalance "Asic #2 Income Sharing Payments" 111.92803544 And it shows a negative balance after the disbursement. ~/.bitcoin$ bitcoind getbalance "Asic #2 Income Sharing Payments" 120 -0.01500297 ~/.bitcoin$ bitcoind getbalance "Asic #2 Income Sharing Payments" 1 1.27385548 The transmission fee was set to: ~/.bitcoin$ bitcoind settxfee 0.00500099 true You set your txfee as 0.005 BTC (or 5 BTM) per 1kb. Transaction size was 3 KB. So while the number does appear to be off a little, it's not by far (0.015 should have been the fee as opposed to 0.02). I think what you meant to set the fee as was 0.0005 (or half a bitmil) but you forgot a zero. |
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We're now trading on btc-e.
Does this mean you're taking the higher value between BTC-E and Vircurex and selling on the highest platform? No. I'm only doing cryptsy and btc-e right now. And I'm not yet taking the higher of the two. NVC LTC and FTC on btc-e, everything else is on cryptsy. Ugh, meant cryptsy, lol. For some reason I typed vircurex. Anyways, got ya! Thanks, . |
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We're now trading on btc-e.
Does this mean you're taking the higher value between BTC-E and Vircurex and selling on the highest platform? |
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This sounds a lot like coinreaper... How is your site better?
I had to quit using CR because there were many incorrect sites in it, dead sites, etc. and after days of trying, I wasn't able to get a hold of the owner. I am a pro-active site manager so that issue doesn't occur with me. It was because of CR's lack of being involved with their own project that caused me to start CoinFaucets, and I am very transparent in my updates (as you can see throughout the thread). Edit: we also support a lot more sites. I think we're up into the 40's now (though I haven't counted recently) and still growing! |
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Up! . |
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What you are referring to as "playing smart" could also turn into an indefinite waiting game for these alt coins to reach a higher value. I understand what you are saying, but exchanging the alts to btc while mining profitability is high is the safest way for those who are most interested in BTC.
Risk vs. reward. Everyone has to balance them on their own. Some of us keep up with the news of the various coins and can make educated guesses as to when and how they will fluctuate accordingly. If you're just buying a coin in the hopes something may change later, you're doing it completely wrong. In some cases, automatic trading is a better option than manual trading. It all depends on how savvy you are. |
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I'm running about 1200 kHash and just started mining MiddleCoin network. After about 10 minutes I've had like 13 accepts and 1 reject and lots of Stratum from pool 0 detected new block. Am I actually mining anything much? Gonna try for a few days and see how it averages against single coin mining. Unless I'm not actually mining much right now.
Thanks.
JR
That's normal to see a bunch of "detected new block" in between accepts, occasionally. It means we're mining LKY or something. If you're concerned, check how your rejected MH/s looks compared to everyone else's. If it's on par, then you're fine. 4.3434 1.4820 Accept | Reject MH/s... Thanks for the reply. I assume with a 512k difficulty I shouldn't put my CPU miners into this pool? I have a couple beefy systems that are pulling like 80 khash each on the CPU so is better than a lot of CPU's but wondering if here it won't be valuable with the difficulty. And FYI I'm not paying for the power so CPU mining is nothing off my back or pocketbook. Thanks. JR I don't know... I average 10-20% rejects usually with 10x 7950's, =/. I've seen some other people's stats are a fraction of that so I have no idea what's going wrong. On my local system (1x 7950) I'm at around 11.8% rejects right now. |
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I'm running about 1200 kHash and just started mining MilddleCoin network. After about 10 minutes I've had like 13 accepts and 1 reject and lots of Stratum from pool 0 detected new block. Am I actually mining anything much? Gonna try for a few days and see how it averages against single coin mining. Unless I'm not actually mining much right now.
Thanks.
JR
That's normal to see a bunch of "detected new block" in between accepts, occasionally. It means we're mining LKY or something. If you're concerned, check how your rejected MH/s looks compared to everyone else's. If it's on par, then you're fine. 4.3434 1.4820 Accept | Reject MH/s... |
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How much is "a coupon?" There are a ton of statements about earning between 0-5 coupons but there's no information on what that even means.
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