Does this clear up everyone's concerns about DRM?
Understood. Thank you Ok, let's assume data center costs and power costs are $0. Mining this at 20ghash/s nets you about $2000 a month. Let's assume both bitcoin price and difficulty either don't increase or cancel each other out. So you get 5 months at $2000 a month, and when the mining rewards halves in December of this year, you start making only $1000/month. It will take 25 months to make back your initial investment.
You guys really need to rethink your strategy. Maybe leasing makes sense. But purchasing your device doesn't make any sense if it doesn't break even for 2 years (which doesn't even include the data center and power costs!)
For comparison, The BitForce Single takes 8.8 months to break even and the BitForce Rig takes 6.5 months to break even. And these 2 numbers assumes power costs $0.30 per kwh.
You also assume that the reward halving has no impact in price. Anyway, this is a choice I don't need to worry about because I don't have the money to buy it. If you are going to assume that price doubles due to reward halving or if your calculations assume that btc price goes up a lot to reduce the break even time, then it makes more sense for you to buy BTC today and wait for the price to go up. You will make more money that way. So as far as I'm concerned, I need to assume btc price stays constant or that it only increases enough to cancel out the increase in difficulty. |
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$30k for 20 ghash/s. The breakeven is ~15 months assuming difficulty doesn't increase AND mining rewards doesn't halve at the end of the year. And plus you won't get this until July. Realistic breakeven is closer to 5 years. Add hosted/DRM mining and 90 days warranty to this. Thanks, but I'll pass.
This appliance isn't targeted at the hobby-level miner. If you have a few machines in your basement, keep on GPU mining. Chances are, you don't care about data center costs or power costs. But if you want to mine as a business, the ASIC model can't be beat in terms of profitability. Ok, let's assume data center costs and power costs are $0. Mining this at 20ghash/s nets you about $2000 a month. Let's assume both bitcoin price and difficulty either don't increase or cancel each other out. So you get 5 months at $2000 a month, and when the mining rewards halves in December of this year, you start making only $1000/month. It will take 25 months to make back your initial investment. You guys really need to rethink your strategy. Maybe leasing makes sense. But purchasing your device doesn't make any sense if it doesn't break even for 2 years (which doesn't even include the data center and power costs!) For comparison, The BitForce Single takes 8.8 months to break even and the BitForce Rig takes 6.5 months to break even. And these 2 numbers assumes power costs $0.30 per kwh. |
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$30k for 20 ghash/s. The breakeven is ~15 months assuming difficulty doesn't increase AND mining rewards doesn't halve at the end of the year. And plus you won't get this until July. Realistic breakeven is closer to 5 years. Add hosted/DRM mining and 90 days warranty to this. Thanks, but I'll pass.
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USPS mauled the envelope during the trip so only two arrived.  The damaged envelope was sealed inside one of those "we're sorry" envelopes. The two that arrived look pretty cool. Nice little conversation pieces. Thanks! - Zed If you want, I can send you a couple more. Let me know. |
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Was it opened and it never noticed it?
Yeah, probably a hiccup from when BE was down last week. I actually use blockchain.info for most of the data. And yeah, that's been unreliable too. So probably due to that. Thanks for the heads up. |
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Hey Coblee, I think you might have a small glitch with this address 1P2FfghkPaGZLcMeb8gEawzDtCpsPBjvR1
Was it opened and it never noticed it? |
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coblee authored 3 months ago Looks like dead project, as we already seen many times (examples are TBX/FBX/IXC etc.).  It's not dead. I'm still working on it. If anyone wants to help, please let me know. |
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Given that it's currently not worth it to mine LTC using GPU, having a GPU miner out is not going to change much. But there are few potential problems I can think of:
1) This puts a cap on LTC price. When LTC price rises to make GPU mining profitable, we will see a bunch of people switching their GPU farms to Litecoin and sell the mined litecoins for bitcoins. This will put a downward pressure on Litecoin price. This is not necessarily a bad thing, because price doesn't matter that much.
2) Could lead to wild swings in difficulty as GPU miners move in and out of Litecoin mining. This will be similar to what happened with Namecoin before the merged mining. But since Litecoin retargets at 1/4 the time as compared to Bitcoin (3.5 days as oppose to 2 weeks), the swings shouldn't be that painful.
3) GPU mining makes it easier to 51% the chain. It would be easy for a decently sized GPU farm to 51% the chain.
I think I'm most worried about the last one.
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Yep, time to close this nonsense thread.
Given that this thread was started by CoinHunter (who no longer claims to be the creator of SolidCoin, but just a normal troll), he's not going to lock this thread. And the mods probably don't care enough either. I guess the best thing is to stop replying to this thread. |
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Of course people will have to update their clients and miners, but if the transition is planned out carefully there should be no risk. Once the software chain knows about the switch, it can handle it automatically. There's support for this in the protocol. EDIT: I think this discussion should move to the dedicated thread: https://bitcointalk.org/index.php?topic=64239.0Yes, this thread is pure bullshit FUD. I have never GPU mined Litecoin. If you have thoughts about what (if anything) we should change with Litecoin with respect to this GPU miner, please continue the discussion in the thread I started. Thanks. |
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I spoke to realsolid on IRC and he confirmed this "RealSolid" account here isn't his. So perhaps the mods should ban the troll.
If the mods are going to ban RealSolid here, they might as well ban you since you've been claiming to be RealSolid until recently. So you were either trolling hard previously or you are trolling right now. Which is it? Also there's nothing wrong with someone else using the RealSolid username on the bitcointalk.org. Likewise, someone can go on solidcointalk.org and register the username "Gavin Andresen" and start posting crap there and there's nothing Gavin can do and he probable wouldn't care. Oh and by the way, I spoke to CoinHunter on IRC and he confirmed that this "CoinHunter" account here isn't his. So perhaps the mods should ban the troll. |
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CoinHunter, RealSolid and the other SolidCoin clowns suffer somewhat from a variation of https://en.wikipedia.org/wiki/Poe%27s_law. Their propositions are so silly, it is impossible to distinguish them from parody. I wish all the best to SolidCoin, so that it may die a long painful and gruesome death. Totally agree. When I first saw the post about reducing mining rewards to reach dollar parity, I thought it was a joke. |
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But you can use a computer with 4+ GPU's for something else. Good luck using the FPGA for anything else but BTC mining.
You are not comparing the same thing! You can use the computer with FPGA's connected to it also. Good luck using your GPUs for anything else while it's BTC mining. |
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What is the point of doxxing someone? Do you really need to post his personal information here for everyone to see? What if someone did that to you? Please be considerate of others and remove this.
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Now it all makes sense. No wonder why the original SolidCoin announcement thread seem to be written by a very level-headed person, and yet RealSolid banned me on #solidcoin on IRC when I started asking some hard questions. And no wonder some of CoinHunter's recent posts are well written, and some of them seem to be written by a psychotic, arrogant, idiot. I'm glad the SolidCoin supporters have started to reign in RealSolid.
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You on the other hand can't go one day without an intelligent thought. Ooo burn. Get back to studying for your highschool stuff and forget about adult conversations until you are one.
CoinHunter, please read your the above sentence again. I guess you can go many days without an intelligent thought. Maybe you are the one that shoud "get back to studying for your highschool stuff and forget about adult conversations until you are one." |
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So that is why you shut down the mined block rewards, to prevent any one else from getting enforcer nodes. BWT, web of trust isn't a slogan or keyword. It is in fact what PGP authentication was originally based on and you could have just cut and paste that code (after removing all the licenses and claiming it as your own work of course). No wonder the Bitcoin devs didn't give you the time of day. Haha, "dude there is like this code that is open source, simple copy-paste job". Well you just outed yourself as NOT A PROGRAMMER. Let's keep listening to you the moron about programming should we? No let's not. You can force changes on the Solidcoin network with code updates and people have to upgrade or your enforcer nodes shut them out of the network. That is what the enforcer nodes are there for, to "protect" the solidcoin blockchain from undesirables. Bitcoin has no such capability, they require the community support to make protocol changes. If the community doesn't use the new version, the changes cannot be forced on them by a single meglo-maniacal agent. If a theoretical forceful change did harm the network then other people could easily resume the network from a prior point WITH NEW KEYS. It's hilarious to think that you believe RealSolid could scam other people and simultaneously claim a license hold over the project! hint: it's only one or the other. Bitcoin devs could easily change whatever they wanted and force the people that matter onto that route. You believing otherwise is what we call delusion. The Soiledcoin "devs" (and I used that word loosely) are on the same page because you hold all the keys and they know it. They have 1.2 million coins, they just keep their mouths shut and wait for the pump and hope they get in on the dump. No shit they don't disagree with anything you say. Plus, anyone who ever disagreed with you has already been run off anyway. Look what you did there you made a pun, "soiled coin devs use it loosely". Real mature kid. Idiots like you with the brain the size of a pea and the damaged self image of columbine loner are what is helping bring Bitcoin down. Thanks for making our job easier. And the 12 million spendable coins hovering over everyone's heads is whats holding Solidcoin back... No matter how you slice it, there are 12 million coins that can be used at any time to scam the entire user base. I guess the answer is: 2) He's stupid and chooses to do the implementation this way and not realize that 12 million pre-mined coins will turn off a lot of users. He thinks that this solution is better because it doesn't require a code change to eliminate the 10 trusted nodes when they are no longer needed. Oh no! Not a code change. There's no way RealSolid can force that on everyone! |
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What we can trust is RealSolid is a good coder, has developed custom solutions...
LOL. I don't even know who I'm talking to anymore. CoinHunter is either lying now and lying before when he claimed he was RealSolid. I'd rather not deal with liars. |
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Coinhunter I still don't get why the 12 million coins are needed to protect the network.
Can you please explain it to me in explicable detail?
I think you owe me at-least that much.
P.S This is a serious question RS. Don't dodge it like you always do.
Lets do this 1-1 WHY ARE THE 12 MILLION COINS NEEDED TO PROTECT THE NETWORK?
LOL, FlipPro. You already know that there's no reason he needs 12 million coins to protect the network. Since it's just hardcoded into the system, he could have easily hardcoded 10 private keys into the software that can act as the trusted nodes without needing 1.2 million coins each. It will just be a special case for those 10 special trusted nodes until a real account has 1 million sc in it. So you won't get a straightforward answer from RealSolid/CoinHunter (although these 2 personalities seems to have split recently!), because it means one of three things: 1) He's incompetent and can't figure out that he can special case those 10 trusted nodes for the time being. 2) He's stupid and chooses to do the implementation this way and not realize that 12 million pre-mined coins will turn off a lot of users. 3) He's a scammer and plan to steal 12 millions coins when the time is right. So yeah, good luck getting RS/CH to respond to your very valid question. |
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I talked to Ahimoth about his specs. Here they are: Mainboard: MSI 890FXA-GD70
Processor: AMD Sempron 140
Memory: 2x1GB Corsair DDR3 1333mhz
GPUs: 4x XFX 6950 1GB stock shaders, watercooled, and clocked at 1000mhz core and 1250mhz memory
Power: Corsair AX1200
Hashspeeds:
LTC - 998kh/s (reaper)
BTC - 1624mh/s (cgminer)
Wattage (at the wall):
LTC - 920 watts average
BTC - 950 watts average
The machine makes 1.35 btc every day mining bitcoins. And it makes 630 ltc every day mining litecoins. At the .0024 exchange rate, that comes out to be 1.51 btc. So it makes about 10% more mining litecoins as oppose to bitcoins. |
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