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Nothing much, the initial fronting costs have come down which is good, but they're still crazy high. > $6/MHash at ~2mil difficulty is a pretty difficult investment to make into bitcoin in any kind of volume.
a 10GHash investment would run you $60,000 USD, are you willing to sink that much money for ~$60 a day return (with no guarantee of this being sustainable)? Keep in mind 1000 day return window in an optimistic scenario is almost 3 years to break even.
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30% fanspeed? Might just have to suck it up and eat some noise by turning that badboy up. You might have particularly finnicky cards. It happens, not all silicon is created equal sadly.
Just a note, it's probably not your PSU, however your particular unit does tend to suffer from poor voltage regulation, and so 24/7 high power consumption could potentially lead to some problems. It might not be a bad idea to touch the voltage on your gpus up or down a hair (you'll need to play with it to find out which they prefer) to compensate, along with the increased fan speed to keep temps in line.
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so how would you calculate the maximum possible efficiency for a given number of pools?
Kind of a nonsense question. The maximum possible efficiency would be if one pool consistently found a block immediately when you submitted a share, and your share was the only share counted. That's for any number of pools (because you would never hop off pool 1). You need other parameters to bound maximum possible below 100%. |
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did .... delete his account or something ? I keep seeing him quoted all over but I don't see his actual posts.
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I never said that your fees were unfair or overlarge or anything. I merely said that exchanges make money of the transaction fees running through them, and that can create a disincentive to create a direct trade (ixc -> btc -> i0c is an extra double over ixc -> i0c), I never said I blamed your nor that you deserve more or less.
No need to get defensive though, no one is blaming you, I'm sure we're all thankful for your quick creation of usable exchanges.
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Shouldn't I0coins be 2x the price of Ixcoins since there's only half of them per block? I don't gets it!  That doesn't follow. Human nature dictates prices, not generation rate. Though to be fair, currently i0coins are almost exactly double the price of ixcoins. i0: buy 0.00224000 ix: buy 0.00116000 amusing. Shouldn't I0coins be 2x the price of Ixcoins since there's only half of them per block? I don't gets it! Ask DoubleC to make a Ixcoin to I0coin exchange and we'll see some fireworks!  doublec makes some nice profit off transaction fees, I wonder if he would make more or less off a direct trade. Interesting... |
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I don't really care about 100% cpu problem. My only question will be how much latitude the driver gives you in overclocking, the ease and stability, and if it will have any sort of useful display for keeping track of your overclock in real time for multiple cards. MSI Afterburner basically does more or less everything I need, so AMD would need to mostly match the features to make the compactness of a single program appealing.
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Actually it's not really a good point. "Encryption based project" is an incredibly stupid description of bitcoin, although I agree it might have been a good idea to implement the existing wallet encryption code that exists in bitcoin code. Nobody is perfect though.
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Do I need to remind everyone here that it's a zero sum game?
Nobody is producing finished goods after investing only Bitcoins -- wealth isn't being produced in this "economy" -- there are X dollars of real money sloshing about, and some people are losing and some are winning.
When 10 people make double income mining IXcoins or whatever, who is giving up an equal amount of money? All Bitcoin holders? Those who get stuck holding the bag with worthless IXcoins? Some combination?
The answer to that question is open to discussion, but it's 100% certain that we're in a zero sum game here.
Matthew
Amazing one of if not the only sane post on here that describes the reality of the situation as it is would almost restore my faith in humanity if I had any... It would describe the reality of the situation if it were a closed system... whiiiich it's not. Oops! Not to mention "real money" is a rather anti-bitcoin way of thinking. Wonder why "wealth isn't being produced" when people intentionally slant how they talk about bitcoin econ? Anyway, it's fairly clear that ixcoin is more or less worthless, but it's not absolutely certain. Everything is in its infancy here, to look at what is going on now and say "Johnny definitely lost because he has <abc>coin" is sorta arrogant, not knowing what the future may hold for lil Johnny and his <abc>coin. |
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hardly
yeah it dropped from a high of .006 or so to .0027 but that was hardly a plummet and perfectly expected and still worth more than ixcoins.
Maybe you are right, people tend to panic, especially amateur traders... But i can tell you this.. the site was being "ddos's" the second that they opened up deposits for i0coin.. especially with that 2000 confirmation limit.
Actually Ixcoins are still worth more. Last I saw, back when the exchange was still up, I0Coins were around .0023XXXX while Ixcoins are at .0015XXXX right now. So that means an I0C block is worth roughly .1104 BTC, while an IXC block is worth .1440 BTC (48 I0Coins per block vs. 96 IXCoins per block). Logically I0Coins should be twice the value of Ixcoins, and I'm sure we'll eventually reach that equilibrium somewhere down the line. Right now though, I think we're seeing (or were seeing anyway) a lot of people just trying to cash in and make a quick BTC. If anything .0023XXXX is bargain and I'm tempted to buy a few thousand once the exchange comes back up. +1 My reasons here are that when the difficulty of each network becomes relatively the same there will be more than 2 times the amount of ixc than i0c which says that the general value of an i0c should be more than 2x that of an ixc. 0.0023 is a bargain. Bought about 5000i0c right before the exchange went down. I'm not sure why people continually equate difficulty and generation with value. You're a namecoin miner, did namecoin value shoot up tremendously when the difficulty shot up and simultaneously all the miners dropped out, squeezing the generation rate to almost nothing? If two nearly identical coin systems differ only in that one generates twice as many coins as the other, there is no logical reason why they would have a similarly matched coin value. Price is far more dependent on peoples 'faith' and interest in the coin itself than any other characteristic like difficulty, amount generated and whatnot. Supply and demand aren't enough, as evidenced by the history of bitcoin (and its forks). You have a point. I think it is both what I said and what you presented here as well. Given i0coin solves some of the bitcoin client issues I'd say there is some value even if it were considered a test network over ixcoin which doesn't do a damn thing but transfer wealth. Agreed, i0coin has a lot more behind it than ixcoin, which is why I got interested in it more than ixcoin, which bugs me. Personally if I had to choose one fork to survive though, it would probably be namecoin, as I prefer the gradual tapering off of generation concept, since tx fees don't seem to be anywhere near ready to takeover. We'll see though, I'll be watching with interest. |
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hardly
yeah it dropped from a high of .006 or so to .0027 but that was hardly a plummet and perfectly expected and still worth more than ixcoins.
Maybe you are right, people tend to panic, especially amateur traders... But i can tell you this.. the site was being "ddos's" the second that they opened up deposits for i0coin.. especially with that 2000 confirmation limit.
Actually Ixcoins are still worth more. Last I saw, back when the exchange was still up, I0Coins were around .0023XXXX while Ixcoins are at .0015XXXX right now. So that means an I0C block is worth roughly .1104 BTC, while an IXC block is worth .1440 BTC (48 I0Coins per block vs. 96 IXCoins per block). Logically I0Coins should be twice the value of Ixcoins, and I'm sure we'll eventually reach that equilibrium somewhere down the line. Right now though, I think we're seeing (or were seeing anyway) a lot of people just trying to cash in and make a quick BTC. If anything .0023XXXX is bargain and I'm tempted to buy a few thousand once the exchange comes back up. +1 My reasons here are that when the difficulty of each network becomes relatively the same there will be more than 2 times the amount of ixc than i0c which says that the general value of an i0c should be more than 2x that of an ixc. 0.0023 is a bargain. Bought about 5000i0c right before the exchange went down. I'm not sure why people continually equate difficulty and generation with value. You're a namecoin miner, did namecoin value shoot up tremendously when the difficulty shot up and simultaneously all the miners dropped out, squeezing the generation rate to almost nothing? If two nearly identical coin systems differ only in that one generates twice as many coins as the other, there is no logical reason why they would have a similarly matched coin value. Price is far more dependent on peoples 'faith' and interest in the coin itself than any other characteristic like difficulty, amount generated and whatnot. Supply and demand aren't enough, as evidenced by the history of bitcoin (and its forks). |
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*read* "blah blah.. order's"  "blah.. Trades are automatically." "... ammount..." *tab closed, no time to waste on illiterates* So you're an unintelligent American who thinks everyone on the whole planet should speak your dialect of English with the skill of a Harvard professor. Wow, I'm so impressed. With what an arrogant moron you are for publicly belittling another country's residents for making an attempt to include you. On the one hand you have a point that the poster was being rude, though being rude in doing so is hardly a compelling approach. On the other hand, if you are running a business with little credibility to back you up, to handle other peoples money, and you want to look professional, it is not necessarily a bad idea to present the most polished front possible, which in order to inspire confidence to use your service, which I think the person you were responding to was trying to point out. Just sayin, though I respect peoples efforts. |
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Mined IO Coins all night and traded for the BTC. Really nice multiples but I think the fun is about to be over after a few more diff increases. Also, https://i0exchange.bitparking.comAppears to be offline currently...... Yeah, slightly odd, ixchange and exchange are both up, but i0exchange is the only one down. Maybe Oldminer, er I mean Takawhatever slipped a few hundred thousand ixcoins for the server to "crash" for a while. |
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Obviously the same scam works only half as well the second time around. Though you must have a tiny hashrate to get only 200 I0coins in 12hours. Even at the very start when I was getting around 85% stales on a pool (was suspicious of trojans from the coind) I got 200i0Coins in about an hour at the starting difficulty. When things started to smooth out around 256 difficulty the coins really started to flow. I'm working with about 1300 MH/s and I had found 80+ blocks early on. Then, like a lot of others have reported, my entire balance was wiped and all my blocks were invalidated. So I gave up and went back to mining BTC for a while until difficulty 256. Even then I had like 90%+ stales. Yeah, unfortunately you had to make sure you were working with the correct blockchain, which was difficult. Part of the reason I hopped on a pool was because I knew that things were going to be batass crazy the first few hours, and wanted to at least get something out of difficulty 1. Was a wild time. I still ended up with a few thousands of i0coins after about 12 hours though. People are funny though, there really is no pleasing them. I0Coins debut is hailed as "a huge fail" because 500Ghash+ hitting a difficulty 1 blockchain caused a huge load of problems. Yet when IXCoin was released at whatever difficulty it was released at (4096? I didn't really pay attention) people were complaining their heads off about the unfairness of releasing a blockchain that was already mined out. I'm sure if NextCoin is released with a starting difficulty of 4096 or wherever people will complain because they didn't get to mine at difficulty 1. |
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OK I am sold. Wasnt quite at first, but I'm fairly confident it is him, and yeah he sounds a bit miffed in his signature, and has been attacking i0coin as much as possible.
It's his own fault. Yeah I'd be annoyed when people like me call ixcoin a scam. I'd be annoyed that i0coin followed my successful launch of ixcoin. But I wouldnt be as annoyed as everyone else at me taking hundreds of thousands of ixcoins for myself.
I bitched at ixcoin.. and called them scamcoins, and that might have been over the top but come on old miner, you gave us reason to be wary. And that is WHY we have i0coin, Good luck with ixcoin, next time dont take so many coins for yourself and be a little more open about the launch.
I imagine he's more annoyed by the failure of iXcoin to net him millions of USD. 580,000 iXcoins @ the current .0003BTC/coin = 174BTC. Still a fair amount, but certainly not what I imagine he expected with stars in his eyes when he ocoked up and implemented this plan in the first place. Price plumetted before that huge stake could be reasonably unloaded for huge gain. |
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The only people defending this are the people who signed up for bounties as moderators etc...
I have yet to see a 'regular' user recommend ixcoin to anyone
Everything about this reeks of a desperate attempt to pump&dump, then withdraw everything and watch the currency collapse
I'm a regular user (though I wouldn't turn down a 5K bounty to be a mod  ) and I mined them and sold them on the Bitparking exchange and came away with something like 3.5x what I would have made in Bitcoins if I had been mining Bitcoins the entire time. Now I'm on to I0coin, but it doesn't look as promising. I was mining as soon as the Windows app was released but at this point I only have about 200 I0coins Obviously the same scam works only half as well the second time around. Though you must have a tiny hashrate to get only 200 I0coins in 12hours. Even at the very start when I was getting around 85% stales on a pool (was suspicious of trojans from the coind) I got 200i0Coins in about an hour at the starting difficulty. When things started to smooth out around 256 difficulty the coins really started to flow. Sadly however the price dropped faster than anticipated, and currently is hovering near parity with bitcoin mining. Next difficulty or if it drops below .002268, you will mine i0coins at a loss, and the party will be over. But was fun while it lasted, even if it didn't last as long as Ixcoin. |
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shouldn't price rise because of the lower supply of namecoins, which should speed up the mining? this will be slowed down however by the fact that you need to wait too long for the transactions to confirm  how much blocks per day nowadays, btw? One of the common fallacies proven false is that price follows difficulty (related to supply). Price follows peoples desire for the currency more or less. one of the crazy forks retargets every 2016 blocks or after two weeks without retargeting. what about implementing that for namecoin?
Everyone would need to agree to adopting the change to the chain, which is hard at this point. |
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Compete or die, or just die. That works too.
I like how people ignore statements like "oh its .0027 buy in now!" right before the price drops to .0003 heh.
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Although I understand the reasoning, the 500+ confirmation for deposits on the exchange is kind of a bother It's down under 300 now. And that's like 7-8 minutes. It's currently 252 confirmations, there are roughly 200 blocks / 30minutes, so ~37.5minutes. I guess it's not unreasonable, but sucks to miss out on a big rally heh. Anywho, people are odd, I can't predict the future but currently I0Coin is far more profitable than bitcoin, IXCoin far less, yet people still seem to think differently. We'll see where each goes I guess. |
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Although I understand the reasoning, the 500+ confirmation for deposits on the exchange is kind of a bother |
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