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Basically, no. That thread is totally FUD. MtGox was offering a trading service... they might have been running a fractional reserve, but it wasn't a ponzi scheme.
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I think even if a scrypt-asic comes out there will be new coins that will be made resistant to it. So I don't see mining going away for that reason alone.
If altcoins remain viable and anybody is buying them maybe. The altcoin market might just die off one of these days - it's not like they really have any use so far. |
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I'm currently running queue:1, expiry: 30, and scan-time: 30
Are these okay settings, or should I change something to reduce reject rate?
Much too high for a fast switching pool. Queue should always be 0. Some people like expiry 1, scan-time 1, but I find this excessive. I use: queue 0, expiry 10, scan-time 5. Setting to -w 256 fixed my reject problem. I am getting almost no rejects at all.
I highly doubt that... you're probably just mining a different coin now - you can't judge rejects on a multi-pool over a short period of time. You need days to see the effect of settings on rejects, and even then they will probably be skewed. Only way to really test is to compare side-by-side, and even then it'll be skewed by luck. I thought worksize was forced by the server to 512 in this case?
Worksize != difficulty. |
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That's not necessarily true. My takings are already at 81% of my expense, and I'm only doing it for 6 weeks. I gradually built up my rigs so average is like 50% for the 6 weeks and still I'm at 81%. It could be 100% allready if not for mtgox...
So resell does not matter for me. If I don't need them anymore then I sell them at a price they buy it. It's a bonus.
I don't see how another avenue to profit negates what I was saying. Fact remains that a new GPU sold at say 75% of purchase price vs an older GPU sold at 25% represents a big chunk of much higher confidence ROI in a speculative market like mining. This is specifically true when you're getting into the game this late. Personally, I have no intention of buying more GPUs for mining - I stopped at the end of January. Resell might not matter to you, but that doesn't mean it doesn't matter... and if you're doing ROI math as precisely as you are, it makes no sense to consider equipment resale a 'bonus'. At least that's my take. |
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I have no idea if this would work, but how about this?
Rather than the anomaly being created based on 1/Difficulty, how about the reward being determined by 1/Network hash rate at declaration of block reward?
You could then trigger the reward based on another factor, such as the last digit being odd, even, the number '3', etc.
The network hash fluctuates rapidly, unlike difficulty. The reward would still be announced at the start of the block, but as it could not be so easily predicted, the Multi-pools would not have as much time to 'swoop in' and steal the block. Similarly, as you can't accurately control the total net Hash rate, you couldn't force it to generate an Anomaly every time.
-T
The block reward is part of the block hash - so you can't use something that fluctuates like crazy... When you are mining, you are performing a hash on a concatenation of: Version # (Block version number) hashPrevBlock (Hash of the previous block header) hashMerkleRoot (hash of the transactions to be included in the block) nTime (Current timestamp) Bits (target [aka difficulty]) nonce (A number you increment or choose randomly) The reason I am showing this, is that hashMerkleRoot is part of what you are hashing. hashMerkleRoot is essentially a summary of all of the transactions to be included in the block - the first transaction always being a tx that says "pay me". You MUST know how much you are going to get paid. If you used nethashrate, the hashMerkleRoot would have to change constantly, and this is simply not possible - miners can't constantly change what they are hashing on... even nTime is only updated every few seconds. |
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Thanks for the responses, that makes sense. Looking for Scrypt miners, there are some custom built units, for example a 900 kH/s for 800 dollars or 600kH/s - $500. Looks like they are based on ATI video cards and go for around $100 per 100kH/s.
Of course, I also found a Radeon 7850 for $160 that is supposed to do 350 kH/s and dual 6970 for $400 that will do 850 kH/s....hmmm, I've been meaning to upgrade my gaming rig.
Last question, is there a good profitability calculator for what we are doing? I understand now that those bitcoin ones out there do not apply.
Scrypt mining, at this point, is almost entirely done by AMD GPUs. This might change, as ASIC equipment is likely to roll out from a few companies this year (and we have already seen GridSeed offering ASIC units), but so far GPUs remain dominant. Profitability calculating is nearly impossible, because nobody can predict the future. You can see that WafflePool averages about .01BTC/day with 1MH/s. But this could change at any time, depending on the buyer markets, coins, etc - it could go down, or it might even go up. For now tho, you can figure .01BTC/day per 1000KH/s is a safe average. When buying GPUs, it's a good idea to keep re-sale in mind. You might get slightly less $/KH value out of the top-of-line ATI GPU (say an R9 280X, 290, or 290X), but your re-sale a few months down the line is likely going to be a hell of a lot better then a 5850 or other low-end card that nobody is going to want. The great part of GPU mining, is there is always the PC Gaming market for re-sale, whereas when you get into ASICs, once they are worthless to mine with, they are worthless period. |
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helix.suprnova.cc shows max stats.. is the port 3333 correct for helix?
Any port could be 'correct'... it's just a stratum connection. --- Looking forward to seeing this coin take off - I think I will solo it from the start and see how things go. I dislike the idea of an 'official pool' however... we see enough coins with a majority of hashing power piled on one pool - having an official pool seems to make this all the more likely. |
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thanks for ur answer,
what if pool can dedicate tiny part to them in order to fill those little buy supports in market, thats easy money to gain.
I don't think a 10% increase in profitability over mining something else is worth the risk that someone else is going to dump on the market before us. Market depth is very important. And I presume poolwaffle is busy enough without adding coin daemons that we may only use for a few minutes and then discard, for a tiny tiny increase in profit (if any). |
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I have an insane idea.... why dont we just broadcast the block reward as notfound(slice rewardValAfterBlockStarts() ) so was could just declare the value of the block to be x or 0, then after the block begins we update the block hash to reflect the true value ... You can't change a blockhash... ? That would involve mining another block. I have no idea what that pseudo-code is supposed to be. But the proper solution would be: 1. each block starts with 2 tx instead of 1 2. the first tx pays the miner a very small reward (maybe .01 in this case) 3. the second tx pays the out address of the first tx in the last block a variable reward (0 or 1 based on the HASH of the last block) I have a feeling, however, this development is beyond the capabilities of the CGA developer, specifically seeing as he didn't even understand his own simple modifications well enough to realize that block reward was determined before the block was discovered and not after (which should be extremely obvious to anyone that knows the bitcoin protocol). |
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The difference is the amount of coins going into circulation directly reflects the difficulty. No other coin (that I know of) does this. Yes the difficulty does determine how much the individual miner may receive but the amount of coins being generated is all ways the same. Other then PPCoin and Novacoin (which both decrease block reward with diff decreases)? Wow, writing the above made me think... What if someone made a coin that changed the block time depending on the difficulty? Say making the block time longer if the difficulty went up. (blowing my own mind right now)
Block time meaning target time to block? As in, effective difficulty would just be a factor of the real difficulty? --- Getting rid of KGW fixes the re-org and block reward manipulation attack. It also leaves the coin open to huge diff swings (not that KGW fixes this entirely - just look at luckycoin's recent situation), which is a pretty big problem unto itself. Changing the block reward scheme destroys the novelty of this coin, in my opinion. At this point, I don't honestly see a solution that will see this coin survive the year that doesn't involve re-writing the block reward scheme and protocol to issue rewards in the next block (which would be truly novel and awesome). |
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@poolwaffle :
I think now you can add a lot of small coins (maybe top 10 in coinwarz) to include them in mine system.
Lol... one step at a time... wait to see how the new switching system works first. Coinwarz is also pretty useless, because it doesn't consider market depth or variable block rewards. |
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Very cool. Congrats on the big milestone in WP history, poolwaffle. Looking forward to see how the new system fairs over the next few days.
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I've got 2 problems with the tri-x's i'm using:
The first is that a 6th card isn't detected for mining. If I plug it in, I can't mine, but "aticonfig --lsa" shows all 6 cards.
The other is that I'm getting a ridiculous amount of invalids, something like 3-5%.
any idea?
What motherboard, what OS, what pool? 3-5% might be perfectly fine depending on where you are mining and what your ping to the stratum server is. DaZuru I had the same problem when I pushed mine over intensity 13 it would crash. I solved the problem by putting in more RAM. 12GB works fine for me but 8GB wasn't enough. I'm not sure why this is the case when others are getting away with far less.
That's just bizarre... I run all my rigs with 4GB of ram - I have never believed the more RAM helps story, because cgminer uses hardly any RAM. I usually have 90% free RAM with 4GB. phzi I flashed the STILT BIOS and am now getting 1013kH/s so thank you very much  Very nice! |
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Can't we just leave it like it is and start our own CGA insider multipool that mines all the good CGA blocks and switches to wafflepool or something for the other blocks, then just don't tell anybody on the original post about the multipool so they mine the zero reward blocks.
lol... |
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Hi everyone,
Just a quick update
The system will stop paying out in dogecoin and litecoin at the end of this week due to low take up as we not able to cover for the withdrawal fee.
We sincerely apologise for any inconvenience.
That sucks... I have been waiting for some better stats info, and then was going to try my miners here again because I liked the idea of auto-trading to LTC. |
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Proposal: If Cryptsy pendings cause you to only have XX% of the BTC owed to pool members, then pay each pool member XX% of what is owed. I think this is much fairer than paying some and not paying others.
I would be strongly against this... it makes accounting a pain in the ass. Keep doing what you have been doing, poolwaffle. |
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I never use Windows for a mining rig - had nothing but stability problems and driver crashes. Full custom gentoo all the way for me.
Intensity shouldn't play that big of a roll - did you try downclocking the engine to 947? (On the faulting card)
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Keep in mind, poolwaffle didn't really make anything less transparent - you can still look up everyone's address in the daily payments.
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USB risers are anything but a waste of money. Unless you like annoyingly short ribbon cables for some reason... They are a $20 (well, less considering you still need $10+ ribbon cables) addition that makes the difference between a ghetto rig and a pro setup.
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Not to mention big chunks of MC's unexchanged have a habbit of 'losing' 20%+ value when actually traded.
If you are still mining here (god knows why...), try wafflepool. You'll be impressed, I am confident in that.
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