I do not know if there are any, but from lack of replies here I think it is unlikely. Maybe a developer, if any are still with the project, can jump on and provide information.

I could only find very minimal miner interest at: https://miningpoolstats.stream/pigeoncoin

It looks like there are 6 to 10 people mining it at any given time, mostly solo mining. I mined a couple hours the other day when I first posted, just for old time sake, and was able to mine a couple hundred K in a short amount of time.

I am not sure if PGN still has a future, but this would a good opportunity for anyone who like to mine these old coins in case of a future run.

Anyway, my only interest in the coin at this point is just that I happen to have an old wallet that has a small balance left.

I am not 100% sure as I was just kicked off the server no warning. I was chatting with a few others (middle of the night type thing) about how its a clone of Karlsen, which is of course a copy of Kaspa. I might have said copy/paste coin or something similar as I have heard of others who got kicked for saying similar things, lol.

Anyway, I am not real concerned myself, as I don't think this project has a real future, but there sure is a lot of vested interest by a core group. They finished a fundraiser to get on MEXC listing in 20 hours or something. I am sure it will be a short term home-run, just be sure to sell while the getting is good.

This is a Karlsen thread, so you guys should take discussions about the other coin to its own thread.

Regarding the $5 starting price, that type of thing happens a lot with new coin listings on exchanges. Those exchanges have real low minimums so it was probably a test trade to try and set some type of high bar. The actual trade could have been 0.1 of a coin meaning a $0.50 trade to print the $5.00 you all seem to go on about.

Yeah, but they also ban you off of discord pretty fast if they don't like what you are saying. Even light criticisms they seem unable to handle, so tread cautiously.

Anything still going on with this project?

I was cleaning up some old wallets and stumbled across this one and thought I would check to see if it was worth keeping.

It appears a new wallet was released this past year, the node still finds peers to sync with, and I even see there are a few miners out there somewhere keeping the chain running.

Doesn't seem to be any active exchanges though.

You can buy it now for sub $3.00 ($2.99, as I type this, on Kucoin).

Series Seed investors (about 6 months or so before Series A) received 4,158,000 Ironfish tokens in exchange of a $5,300,000 investment. This works out to around $1.27 a token.

The way things are going we may get near that price in a few more weeks. Also, besides the 10 million tokens purchased by early investors (Series A and Seed), there are 32 million more hanging over everyone's head ready to drop over the next 2 years.

Sub $2.00 may be a good price, but this is only if you believe in it long term.

On the flip side, the early investors have a lot of dollars riding on this and they are not going to want to see their investments vanish, so I expect a pump at the appropriate time. Still a year out at minimum as that is when the first funds start to unlock.

These two statements seem to be in conflict with one another.

Many factors feed into this and some have already been mentioned.

Large farm (warehouse) type operations that have a lot of sunk costs and already paid for leases will still keep mining for some time before turning off. Many of these also have negotiated low industrial electric rates so are only paying 2-3 cents per kWh and can keep up longer than most home miners or small farm types.

There is a rather large portion of small miners, that each run maybe 1-3 rigs with perhaps 2-20 GPU's total, that have access to free electricity. These can be students in dorm rooms, renters with heat included in rent, people on some kind of government subsidy program, etc. So any miners in this category that already own the equipment really have no disincentive to quit mining, especially if they don't need to sell coins right away. For this group mining is actually cheaper than buying coins as they are essentially free due to no electric bills.

Then their are the people who are mining at a loss, but continue on for some reasons. While it is true they could just buy the coins cheaper, as already mentioned in this thread, some seem to prefer mining over direct buying of coins. In colder climates mining can offset heating costs somewhat, assuming you are paying the bills anyway, so that can help offset a little, but not all of the current losses. There are also some from this group who mine to keep their coin accumulations anonymous, especially if solo mining to a clean (unused) wallet.

Its only been roughly 2 months now since ETH went POS, so I think many are still toughing it out hoping for a short bear market. As was mentioned by someone earlier, the last bear marker miners held strong for about 4-6 months before significant reductions of hash rates started to become clearly visible. This would put us in the January to March time frame before miners start "giving up" so to speak. Curiously, this is also roughly the same time frame some are predicting the crypto market bottoms start setting in.

Compared to previous bear market cycles we are just starting to get into this one. I do not think $17.8k was, or is, the lowest point we will see.

Just some random ramblings to keep in the back of your mind, the 2017 peak was just shy of $20k and the last peak in late 2021 was $69k (lets call it $70k for our simple thought experiment.)

So the difference in peaks between the two last bull markets was on the order of $70k/$20k or about 3.5x.

The low between the peaks was around $3200 (Dec 2018). So if we use the same multiplier of 3.5x on the low, we would see a new low of roughly $11,200 this time around.

Of course this is all just guesswork, but it does help to keep history in mind before becoming too confident in any bottom predictions.

Myself I would be more comfortable placing buys once the price gets closer to the $11k area than the rather lofty $17.8k region. Another thought is since $10k is a major psychological level, we would perhaps test that if BTC does get down that far, so even $11k is probably a bit high to hope for a true bottom, perhaps we might see some dips down in the $9k's.

Anyway DCA is your friend, but I would start investing very lightly at what I consider these high ($17k) estimates of BTC's bottom.

Yes, sub $10k BTC is the time to buy I think we have a few more months to get there, perhaps end of 22 early 23.

IMHO Doge is still sky high at 10 cents, or even 5 cents, better to wait until closer to 1 cent or even under.

And to the OP, just because you have mining rigs does not mean you need to use them. As a long time miner I have in previous bear markers shut down my rigs and just bought coins directly with the money I would have sent off to my power company. If the cost of mining coins is more than you can pay for them directly, do not feel you *must* mine.

I know that POS was (and still is) the plan all along for ETH, but I don't know why they cannot come up with some type of hybrid system, say 50% POS and 50% POW.

Some coins are now even going POUW (Proof of useful Work), so maybe some type of change in that area, say 50% POS and 50% POUW, since one of the main arguments for the switch to pure POS is to reduce energy consumption.

Myself I never was a fan of the POS concept in that is it simply bringing the normal financial system to crypto, mainly in that the reward goes to those with the most tokens (money). While POW is far from perfect, I am sure if efforts were focused into this area improvements could also be made to help reduce energy consumption and pretty much eliminate the useless work while still maintaining the decentralization benefits.

Myself I don't see these developments as worrying as others make them out to be.  Outside of Crypto, usually when a company announces layoffs to save money the stock will go up. Crypto, and companies, go through cycles, so it make sense to trim back expenses as the market conditions dictate.

I would be more worried about companies pretending everything is fine rather than taking measures to trim expenses when the market is in a downturn. I am sure many of those lost jobs were in areas of research and new services rather than the bread and butter positions that keep the company running. It only make sense now that we are entering a downturn, which means less customers, less trading, hence less fees for revenue, that a prudent company starts looking for ways to trim its expenses. It not like its a secret that Crypto is entering a bear market, so there are bound to be losses and pullbacks everywhere.

Yeah, those new risers definitely look better in quality (both in components and soldering) than some of the older ones.

Assuming those capacitors are in parallel, each one would share a portion of the current, thus making it easier on each individual capacitor. By the grouping it would appear they are in three banks, protecting three different sections of the circuit board, but without actually looking at one its hard to tell from just the picture. Assuming the the capacitor quality is equal or better than previous generations of these risers, I would think it would be a more reliable design and thus reduce the chance of shorting.

I also have never lost a GPU due to a riser going bad. I have had my share of bad risers, but never one causing any direct harm to the attached GPU or MB. In any case, the better quality on these new risers is much appreciated to help protect the newer more expensive GPUs.

Yep, this is the way...

DCA is the proven method over time, but I wouldn't even do as big of chunks as you suggested. Put in a little each month, that way you can buy even more if and when the price moves lower.

Myself I don't think the bottom has been hit yet, it will probably go under $18k at some point, but even so DCA is the way.

Would you happen to be having Internet issues? All of them crashing at once sound like some type of connectivity problems. You can review your mining logs and/or router logs if you keep them.

Other suspects causes could be you are having slight electrical power fluctuations, not enough to shut off your miners completely but enough to crash the program. Could also be heat related, but this is less likely in the winter unless you live in the southern hemisphere..

You could even have a virus or some other malware on your network.

I should also add the in Winter with dryer air, which is likely if you are running many mining rigs, static electricity can become an issue. Just someone or something (pets) walking by a rig can be enough to cause it to crash.

Yeah that makes total sense to only have two levels for a GPU.

I suppose you drive your car that way too? Either idle or pedal floored as obviously there is no need for anything in between!

Ok 5 activity newbie, who just registered on November 28th to tell us about this great product.

Let us know how it goes, btw pictures and videos would be the most helpful.

Nice try, but you are cherry picking your numbers to try and make your case.

What-to-mine for instance, uses a block reward figure of 2.91 to account for the fact that a pool will hit uncles once in awhile and not always get the full 3.0 block reward. Coinwarz, the site you used, estimates the full 3.0 reward so it will of course give you a higher result, but it is not a realistic number.

The second issue I see is you also cherry picked near the high price of the day for your Bitcoin value. Try using the low of the day and see what you get, or at least the average.

I used your other figures and adjusted the values in Coinwarz using 2.91 block reward and $3700 BTC price and your income drops to $2.67 per month.

Finally for the $3 or so you might really make per month, you are not taking into account the depreciation of your rigs. You proudly claim my "rigs are paid off" then go on to tell us how clever you are with making a few bucks a month with that equipment. What you fail to account for is that your rigs have value on the resale market and this value goes down each day.

So while today you could maybe sell your stripped down rigs for say $2,000 (just guessing as you didn't provide any details of what your equipment consists of but will work for an example) and you continue to mine for 2 more months (60 days) eking out a measly $2-3 per month, you would earn $6 extra. However in that same time your equipment value falls say $100, now it is worth only $1900, you effectively lost $94.

Even using your optimistic (but incorrect) $20/month estimate, you would still be losing $60 over the time period.

No, mining is not worth it, and only those who either truly have free or next to free (2 cent) power are making it and everyone else is using fuzzy math to delude themselves into thinking they are still making money.

If you want to continue mining, that is fine and you don't need to try and justify yourself to anyone else, but at a minimum at least be truthful to yourself and know exactly what the real costs are. Also do not try to peddle this false pretense to others just because you choose to continue to speculative mine in the hopes that coins go up in the near future.

Profit? Yeah I am sure miners are still earning profits for the electric companies!

Yep, you are one of the few who gets it.

I will know the market has bottomed out when we don't need to point out the obvious any longer and when every post is about "crypto is done", "it's a scam", "ponzi", "I am leaving and not coming back" etc.

That will be the time to start buying as most of the holders and/or moonboys will be selling their $20k, $15k, $10K, and $5k BTC back to us at fire sale prices. Their 10x loss is our 10x+ gain.

The market will recover, it is just a question of when. Unfortunately for many of the people I see posting around here the "when" cannot come soon enough and that is why they are going to end up losing out long term.

It's a dangerous time right now (for sellers) as while I do not think we are at the bottom quite yet, it is obviously a lot closer to us now at $4k than it was when we were above $10K, or even $8K. So to the people who held out this long, you could try shorting and re-buying a bit lower, but your risk/reward ratios are getting worse by the day.

As far as mining, yeah not even worth considering at this point, even with free electricity you still have the capitalization, maintenance, and administrate costs when for the same or even less money you can just buy the coins outright.

I have sold almost all of my rigs at this point and keep just a few 1080Ti around for shits and grins, but I don't think I will be investing in new gear for at least another year, if not two. By then Nvidia should be one or two generations ahead and their cards will be even more efficient than even their current 2080Ti's. We may even have more in the way of FPGAs and ASICs, so yeah any gear you buy now would be pretty much obsolete by then.