Excited for today's distribution.
I've been thinking more about Scrypt mining (Litecoin specifically). I am not sure it makes sense on a LRM scale anymore.
I used Coinwarz and put in a full BF rig for SHA256 mining + power usage (using current retail pricing) and put in an amount of KH/s for Scrypt that could be gained from the same $ put into GPU rigs and power usage based on my own rigs. The result at this moment in time is Litecoin is only 111% as profitable as BTC. Once you factor in the added cooling and power requirements for GPUs, it is probably a non starter. Although, the drop off in profitability would probably be significantly less and I still doubt we'll see working ASICs in Scrypt that can compete in price and performance to GPUs for at least another year. To maximize Scrypt profitability, LR would have to go chasing altcoins around or pick one of the better alts to focus on. No time for that mess, so LRM should probably just focus on BTC now. The other concern would be can he convert one coin to another to distribute as BTC or not without stepping outside of his legal bounds. My gut tells me no.
In the future, if LR gets more time on his hands, it might not be a bad idea to look into it as a means to diversify and perhaps balance out some bad weeks of btc with good weeks of an alt. I personally would not mind getting distributions in BTC and some other coin. There are at least a few alts that are at the moment promising.
I don't think the cooling and power requirements take as much out of the profit as you think. If LTC is 111% more profitable than BTC on a $ invested basis, then accounting for cooling and electricity might take it down to 100% - just a quick guesstimate. I'll also guesstimate that you can ROI on LTC in about 4 months, if not sooner. That figure will migrate towards ~10 months, which is where I think BTC mining with GPU's started to reach equilibrium (i.e. miners didn't seem to come on-board as much or stay on-board as much with that duration to ROI). Buying and holding has historically been the biggest winner... but I still think there is opportunity with LTC mining using GPU's, despite the supposed coming LTC asic. A single Radeon 7950 at ~700KH/s @ ~500w (I have it in my server that is always on so lots of HDDs,fans and CPU usage etc.) churns about $10 a day on Multipool.us. Depending on my mood and estimates, I also choose to point at Grandcoin or Megacoin exclusively and can net twice that if I wait to cash to BTC at an appropriate time frame. With that said, after power costs and the cost of just the GPU... a 35-45 day ROI on a $300-$400 GPU is totally possible at current BTC prices. I have a 6 GPU rig spec'd that runs almost $1500 and would hash at ~4.2MH/s on scrypt and could pull down right at $60 per day on Multipool.us and even more on Grandcoin/Megacoin depending on the rates and difficulties. That ROIs in less than 30 days at current rates. A single card in a server of course skews the comparison a bit but, I'll add my setup as an example. 6x sapphire 7950's, 3800 kh/s at 1375W (including 14" honeywell fan). I'm currently assembling another 6 x 7950 rig but expect similar to better results. The ASIC quality on a few of the sapphires is subpar. I run my cards at 1000mv and tweak each core clock individually so I end up having clocks ranging from 995 to 1070mhz. Which 7950 do you have? I have the OC Boost which nets just at 700KH/s and never breaks 75C... this is my bat for MP... setx GPU_MAX_ALLOC_PERCENT 100 setx GPU_USE_SYNC_OBJECTS 1 cgminer.exe -d 0 --scrypt -o stratum+tcp://pool1.us.multipool.in:7777 -u -p -I 20 --thread-concurrency 21712 -g 1 --gpu-engine 1200 --gpu-memclock 1800 --gpu-vddc 1200 --gpu-powertune 20 --gpu-fan 90 --temp-cutoff 80 --scan-time 1 --queue 4 --no-submit-stale |
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A single card in a server of course skews the comparison a bit but, I'll add my setup as an example. 6x sapphire 7950's, 3800 kh/s at 1375W (including 14" honeywell fan). I'm currently assembling another 6 x 7950 rig but expect similar to better results. The ASIC quality on a few of the sapphires is subpar. I run my cards at 1000mv and tweak each core clock individually so I end up having clocks ranging from 995 to 1070mhz.
Where are you finding 7950 cards? I haven't built any rigs, but investigated a bit... and everywhere I've seen they are sold out...except maybe one or two on ebay. By the way, I recently saw in Fry's (an electronic department store) a computer advertised with an AMD 8000 series GPU. So, I guess they are coming soon. Thought all the 8000s were just the APU embedded GPU cores... The R9s are the new cards out now. |
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Divs were paid out. How much were people paid per bond?
...and how do they compare to a per bond calculated expectations? Calculate:
(25TH @ Difficulty 908,400,000 @ 5.5 days * 0.75) / 57350 bonds?
I come out with an estimate of:
(BTC104.125 * (5.5/7) * 0.75) / 57350 bonds = BTC0.00106991/bond
If my bond # has been updated, then I show 0.00076112545 / bond. Of course, at this time of day I'm somewhat prone to error. That appears to be the same number I came up with. About 25% below calculated expectation. Unless there was a lot of bad luck, that isn't representative of 25TH @ 5.5 days. Looks more like ~ 25TH @ 4.2 days. I ran this just using coinwarz calcs with no electric costs to get an idea of what 5.5 days @ 25TH and 1.5 days at 5 TH would yield in total. I got 83.04845 BTCs. 83.04845 X .75 / 57350 = 0.0010860738884045 per bond. Actual payout for me was 0.00532788 / 7 bonds = .0007611257142857143 per bond. That's about a 30% loss from expected average. |
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What about the electric is that factored in also?
If its the same gpu 6x500w is 3000w for 4.5mhs
The 500w is for the whole rig not just the GPU... each 7950 pulls around 200w each at full load. All the $ amounts I quoted were using the after electric cost estimates. Excited for today's distribution.
I've been thinking more about Scrypt mining (Litecoin specifically). I am not sure it makes sense on a LRM scale anymore.
I used Coinwarz and put in a full BF rig for SHA256 mining + power usage (using current retail pricing) and put in an amount of KH/s for Scrypt that could be gained from the same $ put into GPU rigs and power usage based on my own rigs. The result at this moment in time is Litecoin is only 111% as profitable as BTC. Once you factor in the added cooling and power requirements for GPUs, it is probably a non starter. Although, the drop off in profitability would probably be significantly less and I still doubt we'll see working ASICs in Scrypt that can compete in price and performance to GPUs for at least another year. To maximize Scrypt profitability, LR would have to go chasing altcoins around or pick one of the better alts to focus on. No time for that mess, so LRM should probably just focus on BTC now. The other concern would be can he convert one coin to another to distribute as BTC or not without stepping outside of his legal bounds. My gut tells me no.
In the future, if LR gets more time on his hands, it might not be a bad idea to look into it as a means to diversify and perhaps balance out some bad weeks of btc with good weeks of an alt. I personally would not mind getting distributions in BTC and some other coin. There are at least a few alts that are at the moment promising.
I don't think the cooling and power requirements take as much out of the profit as you think. If LTC is 111% more profitable than BTC on a $ invested basis, then accounting for cooling and electricity might take it down to 100% - just a quick guesstimate. I'll also guesstimate that you can ROI on LTC in about 4 months, if not sooner. That figure will migrate towards ~10 months, which is where I think BTC mining with GPU's started to reach equilibrium (i.e. miners didn't seem to come on-board as much or stay on-board as much with that duration to ROI). Buying and holding has historically been the biggest winner... but I still think there is opportunity with LTC mining using GPU's, despite the supposed coming LTC asic. A single Radeon 7950 at ~700KH/s @ ~500w (I have it in my server that is always on so lots of HDDs,fans and CPU usage etc.) churns about $10 a day on Multipool.us. Depending on my mood and estimates, I also choose to point at Grandcoin or Megacoin exclusively and can net twice that if I wait to cash to BTC at an appropriate time frame. With that said, after power costs and the cost of just the GPU... a 35-45 day ROI on a $300-$400 GPU is totally possible at current BTC prices. I have a 6 GPU rig spec'd that runs almost $1500 and would hash at ~4.2MH/s on scrypt and could pull down right at $60 per day on Multipool.us and even more on Grandcoin/Megacoin depending on the rates and difficulties. That ROIs in less than 30 days at current rates. I was being intentionally conservative with my ROI figure. Fudge factoring in a generous difficulty increase. The conclusion I would be the same: I would consider it still an opportunity. I understand... but in the scrypt world... we aren't dealing with a difficulty increase like BTC does... even LTC doesn't deal with this... pretty much all scrypt coins fluctuate up and down in difficulty at any given time. There are so many more options to swap what you are mining to chase better profits here vs. BTC and SHA256d coins. this is why Multipool.us has seen hashrates ranging from 1.2GH/s to 2 GH/s on scrypt in the last week... up from the 600-800 MH/s they had before the [rice jump in coins. |
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Excited for today's distribution.
I've been thinking more about Scrypt mining (Litecoin specifically). I am not sure it makes sense on a LRM scale anymore.
I used Coinwarz and put in a full BF rig for SHA256 mining + power usage (using current retail pricing) and put in an amount of KH/s for Scrypt that could be gained from the same $ put into GPU rigs and power usage based on my own rigs. The result at this moment in time is Litecoin is only 111% as profitable as BTC. Once you factor in the added cooling and power requirements for GPUs, it is probably a non starter. Although, the drop off in profitability would probably be significantly less and I still doubt we'll see working ASICs in Scrypt that can compete in price and performance to GPUs for at least another year. To maximize Scrypt profitability, LR would have to go chasing altcoins around or pick one of the better alts to focus on. No time for that mess, so LRM should probably just focus on BTC now. The other concern would be can he convert one coin to another to distribute as BTC or not without stepping outside of his legal bounds. My gut tells me no.
In the future, if LR gets more time on his hands, it might not be a bad idea to look into it as a means to diversify and perhaps balance out some bad weeks of btc with good weeks of an alt. I personally would not mind getting distributions in BTC and some other coin. There are at least a few alts that are at the moment promising.
I don't think the cooling and power requirements take as much out of the profit as you think. If LTC is 111% more profitable than BTC on a $ invested basis, then accounting for cooling and electricity might take it down to 100% - just a quick guesstimate. I'll also guesstimate that you can ROI on LTC in about 4 months, if not sooner. That figure will migrate towards ~10 months, which is where I think BTC mining with GPU's started to reach equilibrium (i.e. miners didn't seem to come on-board as much or stay on-board as much with that duration to ROI). Buying and holding has historically been the biggest winner... but I still think there is opportunity with LTC mining using GPU's, despite the supposed coming LTC asic. A single Radeon 7950 at ~700KH/s @ ~500w (I have it in my server that is always on so lots of HDDs,fans and CPU usage etc.) churns about $10 a day on Multipool.us. Depending on my mood and estimates, I also choose to point at Grandcoin or Megacoin exclusively and can net twice that if I wait to cash to BTC at an appropriate time frame. With that said, after power costs and the cost of just the GPU... a 35-45 day ROI on a $300-$400 GPU is totally possible at current BTC prices. I have a 6 GPU rig spec'd that runs almost $1500 and would hash at ~4.2MH/s on scrypt and could pull down right at $60 per day on Multipool.us and even more on Grandcoin/Megacoin depending on the rates and difficulties. That ROIs in less than 30 days at current rates. |
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--PGP--
Address
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1A1q7FHEL1YPRMg4JGgfDbWmMADiMip7ET
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Message
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Shares: 10
Seller: BitBay(cassieheart)
Buyer: daemonfox
Total: 0.25 BTC
------------------------------------------
Sig
------------------------------------------
IFaQhTpp0FbMPeTt6Z1XGJQ0yHGpLnAj+YWdXnPfXOU/YEVSjeIPYVbwtmIiAeZ0lNFBMmzel53VI1jL4CZ7NOw=
---END--
txid 8707451c488da919403e8a5eb3efef9e98ca2a9b2d78c1ee2e8171ad9dda13c3
from 1DAemoNXFNQxeDQAeRdEg245WvYsCfdgE9
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Mmmm, I love the smell of BitCoin in the morning......  Smells like bacon after awesome morning sex... with waffles... I mean waffles with the bacon... not the sex... |
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HEHEHE I love hearing people say "I have been here since the beginning..." it makes me giggle... ever so slightly.
Other than the possibility that the privately purchased shares for the big investors that Zach worked with at the start... I am the very first LRM owner... I was primed and ready to go the moment LRM went live and bought the first shares available to the public in the first few seconds. If those shares were live before the other holders got theirs assigned... then I am definitely his first investor... even if it was a very small amount.
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Zeros in all my balances...
On the balance page, "refresh" restores the balances. So does "generate new address" on an individual coin. Details shows the balance that was brought over. Works like a charm. Indeed it does. |
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Zeros in all my balances...
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It astounds me how inept and needy all of you seem to be... ok not all of you here I don't want to piss off the people who are not bitching and asking stupid questions... As far as mining goes... Capt'n already stated shares are accounted for up to the shut down... you not watching your miner and swapping it after shares started to be rejected, or not having a fail over hence you losing some mining time is on you... 100%. Failure to plan for an emergency on your part, does not constitute an emergency on mine... er... the exchanges.As far as deposits go... Erun WOULD NEVER let anything happen to the current ledger of addresses linked to each account... even if the new version does force you to create another wallet address for each coin... the previous address will still be usable... or at least will have your balance transferred over. There is no reason to worry about coins being deposited... even if you did it right this second... IT IS ALL IN THE BLOCKCHAINS SO YOU CAN STOP CRYING ABOUT IT... even with the wallet down... the coins exist in the blocks and your address is still linked to your account email address. If you used a fake email... just cash out everything you have on any exchange and leave... just fail... there is never a qualified reason to use a non existent email address for registration when your own money is involved... at least a dummy account somewhere... something you can actually use... you SHOULD lose your coins for that... reference the BOLD text above. Quite true, professionals don't do a cut-over to a new system without warning people first about the extended outage. Nevertheless it's all happened now, so we just have to wait and see what the outcome is. I too had coins in transit from mining output, I am sure they will end up in the exchange wallet at some point when it's live again.
BETA!Not like you could withdraw anyways... so what would waiting another couple days have done other than slow Erun down on completing the new version while putting more band-aids on the over taxed Beta? |
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Looking forward to the improved site. I'll be mining elsewhere until the site comes back up. 72 hours is a long time.
This is all relative. 3 days isn't that long for people waiting for a movie or a book to release.... Fans of Game of Thrones had to wait 6 years for a dance with dragons. 3 Days is no big deal... In fact you can make them pass really fast.... If you're a male and about average weight around 3000mg of seroquel will put you to sleep for about that long (don't try this). You could also go out on a camping trip for 3 days, that'd be pretty awesome. You could also type a very long post that would take you three days to post, the possibilities are endless. For an exchange I think it's a while. Other exchanges I've used weren't down this long for upgrades. others exchange do not have so many mining pool if they have any. In fact, I'd challenge him to point out a SINGLE other exchange with direct to account balance mining. The only reason there have been so many issues these past 2 weeks is strictly user volume... not like cryptsy is in the best place either... I still have deposits pending for over 2 weeks now that are unresolved... Also... not one.... NOT A SINGLE ONE of the ppl you speak to in cryptsy chat have anything to do with the development... nor any other exchange for that reason... you get a chance DAILY to speak to the dev here... Erun is the man... and he has a plan... so give him a few days to put the optimized code together and straighten out the mess the flood of users caused. I have every faith he will knock it out of the park... he has each time he steps up with something new. Oh... KonstantinosM you think 6 years for a GoT book was bad... check the dates for the lapse between books 3, 4 and 5-7 of Stephen King's Dark Tower series... |
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>I have a horrible feeling lab_rat is planning on using the two weeks of mining dividends to fund this asic chip idea and when the inevitable delays come from the asic chip this business will be in deep deep trouble.
I couldn't agree more. When I read LR's announcement about the ASIC investment, my stomach turned.
The road to a working ASIC is long and treacherous and its littered with the corpses of the failed. If bondholders could vote, I'd vote no. I didn't invest in an ASIC development company, I thought I was going to mine bitcoins. Mission creep is a killer.
All I have to say to that, sir... is... LRM is in the process of getting involved in an ASIC project that started months back. The project has made it past every test, the only thing that was needed was a little extra funding. This is something LRM could offer in return for at cost hardware as a result of partial ownership of the company.
When I hear LR say that.. it sounds to me like they are well past design and tapeout... and it is time to plunk down the hard cash for the fab to make the run. Needing 4 more weeks before he can go into detail makes it sound like they are in line for the fab run... and that the 4 weeks is to provide enough time to get chips in to verify yield and test in the boards that are probably already in hand (at least a first run). I will offer the dissenting opinion.
Given the way equipment purchasing and dividends have been going, it appears our current model isn't working. Labrat has done a fine job, but the progress on getting a return has been slim to none. The only way we will get our IPO bitcoin paid back is if we have some major market advantage and an extremely large mine size. Granted, going in on an ASIC manufacturer is just as risky as placing preorders, but I agree this is the only solid choice for getting a 100% bitcoin return. This means dirt cheap ASIC prices and likely the ability to queue jump. Both of these have immeasurable value for keeping ahead of difficulty and getting miners delivered "yesterday."
Labrat has historically shown pristine judgement in how he allocates funds. For this reason, I do not have any issues with the sudden shift in direction. He would not put funds into an ASIC company if he wasn't absolutely confident in company and the return.
I am with you here... we are well beyond standing in line for a pre-order or fully assembled miner from any other manufacturer, since LR already has BFs and Monarchs coming in the next few weeks. If we do not already have a spot in line for a 28nm or better ASIC in the coming months... this ASIC chip project is the ticket for LRM. The extra BTC earned by the pre-mine period before the hashrate started working for us is to purchase equipment... to date... I would assume that means LR would have to place an order now and wait in line.... so... order current gen and wait a few weeks for delivery... or... place those funds into this project, and secure our future hardware at cost for the lifespan of that ASIC... if it is a 28nm or better... we just solidified future growth at cost for about 2 years... tell me where you can beat that and I will give you my 7 shares. |
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There is no such coin as ASIC resistant. It's just marketing , like the gold silver stuff some people cling.
So the creators of litecoin, use the scrypt agorithm, that is memory intensive and would be difficult and cost prohibitive to create an asic for hashing, however that is not asic resistant??? Nope... it is just cost prohibitive... fast memory is expensive... and the amount needed to be 50X+ faster than a GPU is staggering. Consider the following... BFL 30 GH/s (@ early pre-order) and a MrTeal 30+ GH/s ASIC using the same BFL chips is ~$700, and mines ~50X faster on SHA256d than a single Radeon 7950 @ ~$350. That is 3GB of GDDR5. For scrypt mining, that 3GB of GDDR5 @ 1800MHz communicates on a 384 bit lane with the GPU core clocked to 1200MHz (my OCs... everyone's are different), nets about 700kh/s. If you separate the core but increase the memory size and speed, you can increase the kh/s. But, that is not the same as going from a GPU core to an SHA256d ASIC core style of hashing... the GPU core doesn't make the scrypt hashrate that much faster... it's all in the memory bandwidth. That means to match the scale of an entry level ASIC for SHA256D compared to a GPU when building for scrypt... your focus is increasing memory size, speed, and and the size of the pipe communicating with the processor. Now imagine what it costs to put that 3GB of GDDR5 on a GPU... multiply it by 50... and then add even more moving from 384 bit lanes to something like 512 bit... or higher. Add that in with a custom processor to be optimized for handling scrypt, and you have yourself one expensive piece of First Gen hardware. I would LOVE to own one... odds are not in my favor until this is proofed and prices drop in Second Gen. |
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little bit offtopic but chceck this  :DD It happens all the time... it is legit... but lasts only a few seconds... check the diff... see how low it is... within a few blocks it retargets and is back in the dumps. |
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Someone actually came up with an interesting idea that I kind of like.
Please be merged mining. I think the idea was the next sentence... Lets put odds on different companies just to see where the public rates all of the "pre-order" projects that are going on right now.
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Divs paid!
LR I have a question to pose... have you seen the Black Arrow Minion chips? Have you seen the MrTeal Chili miner based on BFL chips?
The US re-seller has a thread up today about getting people in line now for Minions... just spoke with him and got in line for 8 chips but he is not requiring the 20% yet.
Chips are due in Feb 24... and I have asked MrTeal (designer of the Chili BFL miner) if he is interested in designing for this... he seems like he might do so.
Chips are suppose to do 96GH/s minimum as spec'd, with a possible 115GH/s OC'd within reason and a top out of 128GH/s but with lots more power draw. Depending on MrTeal picking up the board project and how he plans to lay out the chips... that could be a 1 TH board... his 8 chip BFL Chilis are pushing 40 GH/s with proper fan/heatsink cooling. I can only assume his solution for an 8 chip minion would be able to handle 1 TH/s if cooled properly.
An 8 chip minion could possibly run about $2000 if MrTeal has the same turn around as the Chili boards. I do not know for sure if that will be the final cost... all I know is Minions are $199 each from the re-seller plus 5% handling, and the Chili cost $350 + shipping to populate with your own chips.
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I just sent bobsag3 an email for my Minion chips I would like.
I do not know how everyone else feels about this since it is 3 months out right now... but I am going to at least get in line and set aside my funds now for this, in case MrTeal and ChipGeek do indeed take on this next challenge.
MrTeal... any idea what you would be doing if you did take this up? 2 chip, 4 chip 8 chip boards? Same 100 board commitment before you would go in for a batch run?
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Who is mining this coin?
I'm mining this coin but no news from dev for a while so not sure if I shouldn't jump off tbh Why does everyone assume you need CONSTANT contact with the dev to keep mining... If there was post after post of issues needing resolution I would agree... but it seems like v3 went off without a hitch thus far and my view has shown nothing to complain about. GOOD RELEASE! No issues reported = dev can take a little break and concentrate on other related efforts and projects. Trust me, if there is an issue with this coin, I will be one of the first to point it out so it gets fixed. Keep mining! |
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