So what happened with all the "belief" in WDC?

[TheSwede75]

Yes, YAC had some changes as well, I guess that is worth mentioning.

Let me kill WDC a bit more.  

Bitcoin and all cryptocoins that originated from it but kept hash function (NMC, DVC, PPC, IXC, TRC, FRC) are using SHA-256 hash function which belongs to SHA-2 familly and all
those cryptocoins can be mined with currently available ASIC chips. SHA-3 used in YAC is different familly, it can't be mined with the same ASIC chips used to mine SHA-256 coins.

You lost me.  What does this have to do with WDC, a scrypt coin ?

YAC is scrypt + SHA-3 because it uses both PoW and PoS. Scrypt part differs from all other scrypt cryptocoins because it is (N,1,1) with variable N, while LTC and clones use (1024,1,1).

Scrypt still uses SHA256

There is a difference between SHA-2 (256) and SHA-3 (256). Check the table a bit more.

Still GPU hashable though.

[bitdwarf]

Still GPU hashable though.

Only till August 13, then it isn't GPU hashable at all.

[anderl]

You lost me.  What does this have to do with WDC, a scrypt coin ?

Scrypt still uses SHA256

There is a difference between SHA-2 (256) and SHA-3 (256). Check the table a bit more.

lolwut?  think you missed the context of his question

[fenican]

Scrypt still uses SHA256

Quoting another user fpgaminer :

"scrypt does not use SHA-256 as its core mixing function.  It uses salsa20 for that.  scrypt uses HMAC-SHA-256 once at the beginning and once at the end of the algorithm, but salsa20 is the meat 'n' potatoes"

[fenican]

Also, scrypt cannot be mined with ASICS designed for bitcoin and forks so I fail to see the relevance

[cryptohunter]

Still GPU hashable though.

Only till August 13, then it isn't GPU hashable at all.

Do you mean yac?  right now it is gpu hashable ?  what will change after august 13th to prevent that in the future?

So people are mining yac with gpu right now?

[Twerka]

You can't guess the real value of the coin. Miners only mine what is profitable, not the better coin.
People does not care about fast transaction, nor the name, nothing; is it profitable? Then mine and dump. That is the way to go at short term.

Miners are like a plague who eat, destroy and left. Any coin: FTC, CNC, WDC...

[bitdwarf]

Anyway, what happened to WDC is that noone serious cared at all about it, so you were reading only the hypers.

[bitdwarf]

Do you mean yac?  right now it is gpu hashable ?  what will change after august 13th to prevent that in the future?

So people are mining yac with gpu right now?

1. Yes.

2. Yes.

3. N reaches 8192 and a test is showing GPUs fail to get any shares approved.

4. There's one known forum user with a working GPU implementation. It doesn't seem to have had much of an impact on the total coin supply, though, and difficulty has been dropping these last days.

Check the YAC development thread here for more info.

[kr4x]

wtf is worldcoin? all aboard the gldcoin train choooooo choooooooo

[BitJohn]

um noone wants GDC trust me been trying to sell it FOREVER

[kr4x]

um noone wants GDC trust me been trying to sell it FOREVER

haha oh John

[BitJohn]

I have started a thread offering to blow my wallet up for money I am going to see if someone will take it

[Hydroponica]

Here comes the pump...Panickers can start crying now

[erk]

You can't guess the real value of the coin. Miners only mine what is profitable, not the better coin.
People does not care about fast transaction, nor the name, nothing; is it profitable? Then mine and dump. That is the way to go at short term.

Miners are like a plague who eat, destroy and left. Any coin: FTC, CNC, WDC...

Miners generally have no idea what is "profitable" the use sites like Coinchoose to spoon feed them what to mine. However as I have pointed out in the Coinchoose thread, their methodology is flawed, and it is misleading miners.

That image is still just mining revenue. Volume traded in BTC or USD is essential in letting investors know how their coin is doing. Last trade price is also a dud metric even for miners, you want a weighted average or candlesticks, you need to know the average trades that are going on, not the spot price. Mining has lead times.

I blame the confusing information on CoinChoose for the recent pump and dump by miners of FTC which has caused the coin all sorts of problems. Miners are pool jumping driven by the rapid changes on the site, from a simple change in profitability score, based on some pretty gross assumptions. Just because the spot price on a coin is X, it doesn't mean the miner will be able to sell his coins at that price, the spot price is usually not the same as the  weighted average price, and it takes time, hours possibly days,  to produce the coins, so by the time he has a salable parcel of coins, the price could have move all over the place. What's worse is without considering the trade volume, the miner is left to think they will always have buyers for the coins, which is often not the case unless they heavily discount, thus proving the profitability rating on CoinChoose to be misleading.

Need I mention that each coin has a different lead time until the next difficulty rate changes. That should be factored into the profitability metric.

https://bitcointalk.org/index.php?topic=152515.msg2098845#msg2098845

[cryptohunter]

Do you mean yac?  right now it is gpu hashable ?  what will change after august 13th to prevent that in the future?

So people are mining yac with gpu right now?

1. Yes.

2. Yes.

3. N reaches 8192 and a test is showing GPUs fail to get any shares approved.

4. There's one known forum user with a working GPU implementation. It doesn't seem to have had much of an impact on the total coin supply, though, and difficulty has been dropping these last days.

Check the YAC development thread here for more info.

thanks, interesting information. I did think diff would drop off since it was so hard to generate any coins and the price had slumped quite a bit. I couldn't mine much and was kind of still hurting from purchases around 0008. I still think it will come back stronger in the future.

[JesstersDead]

Here comes the pump...Panickers can start crying now

Would seem one does not need an actual reason to "cry" around here... but yeah, you're right lol

[BitJohn]

You can't guess the real value of the coin. Miners only mine what is profitable, not the better coin.
People does not care about fast transaction, nor the name, nothing; is it profitable? Then mine and dump. That is the way to go at short term.

Miners are like a plague who eat, destroy and left. Any coin: FTC, CNC, WDC...

Miners generally have no idea what is "profitable" the use sites like Coinchoose to spoon feed them what to mine. However as I have pointed out in the Coinchoose thread, their methodology is flawed, and it is misleading miners.

That image is still just mining revenue. Volume traded in BTC or USD is essential in letting investors know how their coin is doing. Last trade price is also a dud metric even for miners, you want a weighted average or candlesticks, you need to know the average trades that are going on, not the spot price. Mining has lead times.

I blame the confusing information on CoinChoose for the recent pump and dump by miners of FTC which has caused the coin all sorts of problems. Miners are pool jumping driven by the rapid changes on the site, from a simple change in profitability score, based on some pretty gross assumptions. Just because the spot price on a coin is X, it doesn't mean the miner will be able to sell his coins at that price, the spot price is usually not the same as the  weighted average price, and it takes time, hours possibly days,  to produce the coins, so by the time he has a salable parcel of coins, the price could have move all over the place. What's worse is without considering the trade volume, the miner is left to think they will always have buyers for the coins, which is often not the case unless they heavily discount, thus proving the profitability rating on CoinChoose to be misleading.

Need I mention that each coin has a different lead time until the next difficulty rate changes. That should be factored into the profitability metric.

https://bitcointalk.org/index.php?topic=152515.msg2098845#msg2098845

coinchoose is a tool to use but you definitely have to do the math as reporting is way off at times.

[Hydroponica]

I just about doubled all my WDC profits, in an hour, Thanks guys, lets do this again, real soon

[BitJohn]

I just about doubled all my WDC profits, in an hour, Thanks guys, lets do this again, real soon

nice!