Yes I agree totally. What you are describing in the currency world (Or equities, commodities, futures, options, etc...) would be called a risk/reward ratio. I am currently making a profit. A little less than 50% not accounting for hardware. I generally sell that off when new more efficient hardware is either just released or about to be. That hasnt been happening as much as it used to but this is why I generally dont account for hardware costs when doing a basic daily p/l. Besides I also buy all my equipment used so its not that much. I paid less than 5000 for all 20T...including PSU's. I got the PSU's from my old dell 2850's for free I ran all the electricity myself so there was only an additional few hundred in wire, cooling, etc. My elec cost per KwH is also very low at 9.7 cents.

Funny....I had actually calculated that in order to have an acceptable risk/reward ratio that I would need to buy roughly 2.8 PH of hardware. At that level you would have about an 80% chance of finding a block every 36 hours. Anyone reading this should not bet on that number. I ran several statistical calculations based upon my semi-limited knowledge in BTC and a great deal of knowledge in statistical math. So I was close. I was just asking if you would do it....not a guarantee where there are none. Even with 20 PH there is no guarantee however as you said the odds increase linearly. Thats a pretty serious investment though. CoinWarz calculates that with 2PH you would gross $5,704.54 per day. A block a day would be 7k or so. So you are only making a small amount more solo mining but without any guarantee that you will make even that. Whereas if you took the same equipment and pool mined you are guaranteed to make the 5700 a day.  I just don't see the the slightly greater profit potential as a better way to go over the slow ride with a (semi) guarantee.

I think I will just stick to pooled mining. I appreciate the answers to my questions. Thank you all. I'm just the type that if I were to lose money when I could have made a profit on the slow boat I would be pretty pissed at myself. I'm an investor not a gambler and the fast buck never works out in the long run

Thank you to all for your replies and wisdom

Thanks for the quick reply. Man that sucks. This means that if I had been solo mining this whole time I would not have made one cent yet. Its only been since May that I ramped up to my current hashrate but still....geesh. Im still not running P-hashes but I would have thought that I would have had some luck with 20 T-hashes in 3 and half months. I think Ill just stick with PPLNS pool mining.

Just outta curiosity....What would be the minimum hashrate you would consider enough to attempt solo mining? Luck not withstanding.

I understand how the different pool payments work.Tthis question is NOT about payout. What I would like to know is if my S5 will reflect if I find a block while mining a pool using pplns or pps. I know that if I'm solo mining it would increment with each block I find. But with PPLNS will it do the same? Or is it unaware if it finds a block using a pool as such? Im trying to decide whether to solo mine or not. In the time I have been mining I have always used a pool. My S5 has never reported finding a block and if when pool mining this would show then based upon my experience so far I would not have found a block. But if this field isnt updated when pool ming then I have nothing to go on. I realize its luck...just trying to get some supportive real world statistics for my setup and speed if possible.

Thanks

Note: If this is posted in the wrong forum please move it. I was torn between mining and mining software. This just seemed a better match.

I also got paid for all my shares....past two days. The site being down is kinda a pain but as long as the pool is up Ill stick with it. But please fix this soon. Get ddos protection.

Do you honestly believe that anyone really is believing any of this? You have "classic" movies because they are public domain and no one will sue you for royalties(Im no a copyright lawyer but it stands to reason). Secondly what transparency do you have for these "movie banks"? "we have created a new fairer system designed to allow the creators of classic Bollywood content to receive payments for their work" .....We know where the money is going how? Ultimately this money your talking about is such a small amount I am fairly sure that any actor would be offended if you called them and said "I have some compensation for your hard work. How does 3.2 cents sound to you." Lol. What a joke.. I mean really....less then one cent (USD) for a 24 hour movie rental?

I think it more likely that you are just trying to drum up some kind of demand for this ridiculously coin. No merchant would ever adopt it so you created your own merchant. Thing is EVERY movie you have is available for free somewhere else. While the world is full of stupid people I doubt there is enough of them to bid your coin up. Even the site design sucks. Misspelling. Capitalization errors. Punctuation. etc etc. At least make an effort to try to look legit.....(Or did you think the Hotmail address is doing that for you?)

Stop mucking up the crypto currency world. This movement (decentralized Electronic currency) has a real chance of making a difference in the word but not with greedy people like yourself filling the markets with worthless junk. It ultimately drives people away from legitimate coins like ltc, btc, even ftc. Geesh....if you cant make the world any better at least don't make it worse and get out of the way of those who do care about actually contributing substance to the world. You are Indian and that makes it even worse as you are using your own people. No bank account or credit card needed? Exactly how are they going to purchase these coins without a cc or bank account?  Have you setup brick and mortars where you can walk in and purchase them? An atm? Even this SMS system you speak of.....Where is it? Im so sick of people trying to squeeze the last few pennies out of the poor that only have a few pennies left. Get rid of the charge for those movies and ask for donations in your coin. Did that ever dawn on you? Of course not because shady people never think that anyone would do something just because it right because YOU would never think to do such a thing.

Gonna be around for a while and develop/support this coin?

Creation Date: 2014-10-28 21:26:32
Registrar Registration Expiration Date: 2015-10-28

Then why would you risk your domain with a ONE year registration(Both Coinvidz and bollywoodcoin.com)?

Your doing this so people can enjoy classic movies and pay the actors?

No actor cares about less then one cent per day. Secondly if you wanted to carry on the classic movie tradition and give the art life again then you would just post links to these movies. Here are the first five on your site. Found in ONE Google search for free
(A couple may be just clips. I didn't pay a lot of attention but there were MANY links to the full movies. Most below are full):

https://www.youtube.com/watch?v=hB-XdjzmGZQ
https://www.youtube.com/watch?v=htmOsWUkdN8
https://www.youtube.com/watch?v=OpeTHPCfFNU
https://www.youtube.com/watch?v=f5rRkptCM3E
https://www.youtube.com/watch?v=F_8LlumaoIw

Soundtracks are also easily available to if your in to these movies. Also they have subtitles ....mostly.

Please ...if your going to be a greedy person at LEAST don't use the backs of the poor and disadvantaged to make your inglorious climb to middle class. India has enough issues and could use some genuine people that genuinely care. Not this crap.

Btw...WHY would you register CoinVidz in your name and then anonymously register the site you publicly proclaim yours? Or was this just another example of how poorly thought out this was in your rush to get your scam out. I cannot wait till this coin hits.00000002 btc and I really hope that you get stuck with a ton of worthless premined coinage. Your coin that you stated in your first post has no premise but in your rush to copy and paste details from real coins then says IS premined at 5%. 

I have a serious amount of Neo hash power. I think that I will mine and hold a bunch of these and every time it gets close to any kind of advance sell it back in to oblivion at 1/10 the current bid. I can at least limit your ill gotten profit.


(To those that make this forum their home I apologize for this rant.....Putting out worthless coins is bad. Putting them out and counting on your own disadvantaged people to carry your scam is infinitely worse. THATS my problem with this. Not another worthless coin so much. that just erks me.....)

I DO trade on Cryptsy. I will try the one you suggested...and others. I didn't realize it made that much of a difference other then for arbitrage plays(Which I also don't see how that can be done but that's a whole nother story!).

Lot of differing opinions out there but thank you for all your replies. Honestly it seems like these coins are just for lining the pockets of developers for short periods of time. I was a news trader in Forex. That was a lot different though. You have things like the nonfarm payroll reports that are scheduled and move the market significantly. There are no reports per say in altcoins. Even trying to calculate M1 supply is impossible or so it seems. Seems to me that everyone is chasing the success of Bitcoins....hopelessly. Litecoin MIGHT have a chance as there is some adoption it seems. Without real demand (not from traders and miners etc) no coin can succeed and all will (and should) be worth zero.

How is this for a strategy......

I mine altcoins from multipool or wherever. Using autoswitch, auto payout, autosell. Hold all proceeds in BTC locally on my (air-gapped)computer. Hold the BTC's till after the next halving. Seems like this would be my best/easiest bet. Kind of takes bits and pieces from all the advice you guys have given more or less.

Am I right in my assumption that the upcoming reward halving in the next year/few years will cause significant appreciation in BTC?

Again thanks for all your advice....

I am a former Forex trader. I still trade stocks also. Im confused about one thing regarding Altcoins. EVERY pair I look at has the same pattern. Starts up and ends at some small price that is a fraction of its starting point. Its like every chart is a copy of another. How can you possibly make money from holding these coins? Every coin I mine from multipool when I get over to cryptsy its at the bottom of the chart. With forex pairs rise and fall. These just fall it seems. And usually about a week before I get them:( What am I not seeing. What am I doing wrong? Or when mining multicoins is it just get what you can as soon as you mine them?

Thanks....and please dont flame the noob