Is this real? 8 hours mining YAC

[pornluver]

Okay

I got 5 YAC. The price for each YAC is .0003. Yap, there are 3 zeros there. That means it's 3/10000

If one BTC is around $100, one YAC is 3 cents.

So I made 15 cents in 8 hours or 45 cents a day.

With 5 computers.

Why would anyone mine this thing?

Even if the price go up it makes more sense to just put $1k, dump them, and then wait till price go up.

It doesn't make sense mining this.

[BitJohn]

They infect their employers networks and use 100s of computets and free electric and make money.

[ThomasX]

Yes, this is reality of bitcoin-mining now.

Don't expect to earn a dime unless you are some kind of super-nerd with a 1'000 square-feet basement filled with super-computers (or ASICs) and a mini nuclear-plant under your bed that keeps you warm at night.

So unless you are this crazy super-nerd I described above; if you wanna "earn" money now, your best (and only) bet would be to start as a speculator and actually buy bitcoins at MtGox, btc-e or bitstamp and HOLD them for a couple years and hope price goes up. Lots of ice-buckets on your stomach recommended.

Not really a bad idea. I would rather "bet" on bitcoins than any real-life stock-market company right now. Both are risky, but bitcoins in my eyes much less risky than the dang stock-market.

As you said yourself: "It doesn't make sense mining this."

Sounds like a pretty intelligent conclusion to me. You're obviously a clever dude; start trusting your own intelligence more. You seem to have enough of it, just need to add a dash of self-confidence and you'll soon find a way to conquer the world with it.

Never forget the old quote:

"During the Klondike Gold-Rush, the ones who got rich was not the miners; but those who crafted and sold the tools they used."

[GSnak]

Why?

[Xanthe]

You're right in that it's essentially impossible to profit from mining YAC if you pay for your own CPUs and electricity. As BitJohn said, a good number of the remaining YAC miners are probably using systems that they neither own nor pay the electricity for (that's not to say they're all criminals so please don't take this the wrong way). I'd estimate -- and I have no proof to back this up, just guessing -- that the remaining YAC network hash power is split about 50/50 between people mining with GPUs and those who are mining with server farms/botnets.

To put things into perspective, I happened to be reading the forum at the moment that YAC was released. I began mining ~15-30 mins after release and within 24 hours I had 6000 coins using only a single Intel i7 3770k. Within about 5 days electricity costs began to approach the value of the coins that I was mining and I decided to halt my mining.

[forsetifox]

When the N value goes up the amount of hash goes down by ~ 50%. That's why people aren't seeing the hash rate they WERE mining with a few weeks ago.

In my opinion the N value went up way too fast too soon. We should be a year from now or so at todays N value (1024).

On the bright side not many coins are being made now which should make the price go higher.

[BlazinBeaches]

When the N value goes up the amount of hash goes down by ~ 50%. That's why people aren't seeing the hash rate they WERE mining with a few weeks ago.

In my opinion the N value went up way too fast too soon. We should be a year from now or so at todays N value (1024).

On the bright side not many coins are being made now which should make the price go higher.

Agreed.  The N value is ridiculous at this time point, the coin is still a baby.

[ranlo]

When the N value goes up the amount of hash goes down by ~ 50%. That's why people aren't seeing the hash rate they WERE mining with a few weeks ago.

In my opinion the N value went up way too fast too soon. We should be a year from now or so at todays N value (1024).

On the bright side not many coins are being made now which should make the price go higher.

Agreed.  The N value is ridiculous at this time point, the coin is still a baby.

Keep in mind that as N goes up, the amount of decrease everyone gets is equal. For example:

Let's say N = 1
Person with 50 hash/s earns 50 coins a day
Person with 25 hash/s earns 25 coins a day
Their ratio is 50:25 or 2:1

Now N jumps to 2
Person with 50 hash/s is now at 25 hash/s and earns 25 coins a day
Person with 25 hash/s is now at 12.5 hash/s and earns 12.5 coins a day
Their ratio is 25:12.5 or 2:1

In other words, after 500 days and N is now 500 and they are getting 0.00001 hash/s, the ratio will still be 2:1. Meaning that it's still really the same.

This is why I believe the N value increasing isn't an issue. Unless someone can shed light on where the mathematics would be wrong? The way I see it, if I earn half what you do, it doesn't matter if I earned 1 coin or 1 million coins; either way I still have half the value of you.

[BrewCrewFan]

Unless you have what the second person said... you need to look at this as a long term type deal.

With small hash, you need to gamble on coins.

What to look for is a active dev. If the dev is somewhat active with a coin that is good.

Target coins not on the markets yet. Guys like me and you will NEVER make it on those coins...  The difficulty spikes all the time as the asses with 2+ mhs go and rape the shit out of the coin quick and only dump em then making price crash.

The people back in the early days of BTC... never thought... now those that stuck with it and held on are very well off... not saying many of the alts going now will take off like that... but, risk is part of the fun.

[Eli0t]

its certainly not fun to mine anymore with a single desktop PC. i got more from the 3 YAC giveaway thread than i ever got from mining

[seleme]

If N was going up at slower pace people would still rape it with Amazon clusters and it would be continuous pump and dump stuff. YAC was pretty much saved from that since it was included on exchanges, it's price range was pretty much between 0.00032 and 0.00065.

It's an awful price for such coin though, very solid and strong but very low, a crime compared to some coins that shouldn't be put in same sentence with it. But I guess FUD prior it was included at Bter made them to put that silly coin description and trading fee and that left it in current range. Though it probably helped to not be pumped and dumped in first hours.

I just can't see this coin not making it and going up heavily. If it doesn't, than coin design itself means heck all as it is the most advanced coin by a mile at this moment.

[Eli0t]

i do love the work the dev team put into it

[WindMaster]

You're right in that it's essentially impossible to profit from mining YAC if you pay for your own CPUs and electricity. As BitJohn said, a good number of the remaining YAC miners are probably using systems that they neither own nor pay the electricity for (that's not to say they're all criminals so please don't take this the wrong way). I'd estimate -- and I have no proof to back this up, just guessing -- that the remaining YAC network hash power is split about 50/50 between people mining with GPUs and those who are mining with server farms/botnets.

To put things into perspective, I happened to be reading the forum at the moment that YAC was released. I began mining ~15-30 mins after release and within 24 hours I had 6000 coins using only a single Intel i7 3770k. Within about 5 days electricity costs began to approach the value of the coins that I was mining and I decided to halt my mining.

FWIW, I own my server farm (as made rather public on the first day or two of the coin launch), and definitely pay my own electricity.  And despite being one of the few that did implement GPU mining of YAC (just not necessarily one that performs as spectacularly as people seem to think every GPU implementation is going to achieve), I still CPU-mine YAC at this point.  Tons and tons of cheap Xeon-based IBM BladeCenter blade servers that people dump on eBay for pocket change just because they're a couple years old and not the latest-and-greatest blade servers on the market, reasonable power costs, and sensible and efficient design of data center cooling are key here.  Per unit of CPU performance, I pay less than half what someone would pay merely for a motherboard, a bit of RAM and an i7-2600k, to achieve the same level of performance, and end up with carrier-class hot-swappable hardware, with more redundancy than you can shake a stick at, that just doesn't fail except under unusual circumstances.  This was formerly IBM's hardware platform for building supercomputer clusters for NSA, who tend not to have a sense of humor about power supplies that fail when you look at them funny.  This just comes down to resourcefulness and ability to scrounge the right hardware (or even to know what to look for in the first place) to keep costs down.

You can bet I would've really cleaned up had I seen the delayed YAC announcement sooner than 8 hours after the coin finally launched..  I even had the entire server cluster all prepared to network-boot a YAC-specific Debian Linux image off one of my file servers, and it was all tested and ready to go prior to the originally scheduled YAC launch date/time, I just needed the final version of the client.  But alas, I was asleep (and/or in the wrong part of the world) at the time the coin finally launched.

[digger]

where do you mine yacoin?

perhaps some pools fair, some pools unfair,

because yacoin's difficult change every hour, the value of each block is different,

so use PPS is not a good way, no one know what's the value for per share.

so come to mine here http://yac.ltcoin.net

if one block only 1 share and you found it, the block belongs to you!

come here to find some lucky.

[seleme]

Off topic, but digger, I always get in war mode when I see your nick when browsing forum... that was a nick of a guy I had zillion fights with on one local forum years ago.. what a pile of shite he was  

[seleme]

You're right in that it's essentially impossible to profit from mining YAC if you pay for your own CPUs and electricity. As BitJohn said, a good number of the remaining YAC miners are probably using systems that they neither own nor pay the electricity for (that's not to say they're all criminals so please don't take this the wrong way). I'd estimate -- and I have no proof to back this up, just guessing -- that the remaining YAC network hash power is split about 50/50 between people mining with GPUs and those who are mining with server farms/botnets.

To put things into perspective, I happened to be reading the forum at the moment that YAC was released. I began mining ~15-30 mins after release and within 24 hours I had 6000 coins using only a single Intel i7 3770k. Within about 5 days electricity costs began to approach the value of the coins that I was mining and I decided to halt my mining.

FWIW, I own my server farm (as made rather public on the first day or two of the coin launch), and definitely pay my own electricity.  And despite being one of the few that did implement GPU mining of YAC (just not necessarily one that performs as spectacularly as people seem to think every GPU implementation is going to achieve), I still CPU-mine YAC at this point.  Tons and tons of cheap Xeon-based IBM BladeCenter blade servers that people dump on eBay for pocket change just because they're a couple years old and not the latest-and-greatest blade servers on the market, reasonable power costs, and sensible and efficient design of data center cooling are key here.  Per unit of CPU performance, I pay less than half what someone would pay merely for a motherboard, a bit of RAM and an i7-2600k, to achieve the same level of performance, and end up with carrier-class hot-swappable hardware, with more redundancy than you can shake a stick at, that just doesn't fail except under unusual circumstances.  This was formerly IBM's hardware platform for building supercomputer clusters for NSA, who tend not to have a sense of humor about power supplies that fail when you look at them funny.  This just comes down to resourcefulness and ability to scrounge the right hardware (or even to know what to look for in the first place) to keep costs down.

You can bet I would've really cleaned up had I seen the delayed YAC announcement sooner than 8 hours after the coin finally launched..  I even had the entire server cluster all prepared to network-boot a YAC-specific Debian Linux image off one of my file servers, and it was all tested and ready to go prior to the originally scheduled YAC launch date/time, I just needed the final version of the client.  But alas, I was asleep (and/or in the wrong part of the world) at the time the coin finally launched.

Do you have some Ebay link of that specific hardware you use

[digger]

Off topic, but digger, I always get in war mode when I see your nick when browsing forum... that was a nick of a guy I had zillion fights with on one local forum years ago.. what a pile of shite he was  

[WindMaster]

Do you have some Ebay link of that specific hardware you use

Without endorsing any particular eBay vendor, and just as an example of almost identical HS21 blade servers to what I use (most of mine have E5450 CPU's rather than E5440's, but that's only a few % difference in performance):

http://www.ebay.com/itm/10-PACK-8853-AC1-IBM-HS21-BLADE-2-x-E5440-2-83-GHZ-QUAD-CORE-8GB-RAM-2x-73GB-/200876881184?pt=LH_DefaultDomain_0&hash=item2ec531f520

Remember, that price is for a pack of *10* blade servers, not just one.    8GB ECC RAM and dual 73GB SAS hard drives included even (though I prefer just network-booting any slave workers in my cluster).

Then for each group of 14 blade servers, you need a BladeCenter chassis, management module (AMM if you can find one), Ethernet switch module, and depending how many power supplies came with your chassis, a couple power supplies.  All of the above are dirt-cheap on eBay too, even the old original BladeCenter E chassis that work perfectly fine for everything right up to the newest blade servers from IBM (albeit with some specific requirements for slot ordering when combining newer HS23 blades with certain power supply types in old E series chassis).

In addition to that, you do also need a decent IT skillset.  It's not at all a difficult platform to work with, but would probably be pretty intimidating to someone with no network engineering or data center experience.  You manage all the servers through video and keyboard redirection to a web browser interface (via a Java version of VLC), and a shared DVD tray / USB slot that you can connect to any of the 14 blades in a chassis at a time.  You can even mount a CD/DVD drive or ISO image from whatever computer you're hitting the management module with your web browser from, and it appears to be an actual hardware CD/DVD drive attached to that server.  Makes OS installation a breeze, you never have to get up from your desk to go swap install media.

Don't try to set up a BladeCenter farm in your home though.  The (dual redundant) cooling blowers are loud enough to wake the dead.  And you do need 208V-230V power as well (might be a problem for some people, not for others).  And don't expect to get rich mining YAC either.  I *do* have relatively inexpensive power.  I mine with them because I have them already for another business doing render farm jobs on film projects, and there are times they're free to do other tasks.  If it costs less in power to leave them up and mining YAC, great.  Otherwise I'd power them down when no render farm jobs are queued up.

And for those with an eye toward power costs, you can measure and graph the power consumption of every individual blade server and other component installed in the chassis via the management module's web interface.


Okay, this photo is actually one of my HS21 XM blades rather than a straight HS21 blade, but close enough, just trades some extra DIMM slots in place of the 2nd hard drive slot:

[forsetifox]

  ~~~~

[GSnak]

This is why all the hand-wringing over GPU mining farms is pointless. Despite the decreased efficiency mining YAC with GPUs, there are people with access to far larger CPU clusters than anyone has running GPU farms.