How to mine Bitcoin Gold?

[Cuzzle]

i was thinking of trying to mine this coin but after reading this thread... no way 

same here, too many great alt coins that I have more confidence in. I will pass on bitcoin gold...for now

[Pumperdumper]

BTC / LTC / ETH / BCH / BTG / ETC and 99% of the other coins - are in reality, all the same.

ETH = BTC? Really?! 

Other than smart contracts - what has ETH brought to the table that provides value? Actual value that brings companies to the table to invest??

There is nothing of tangible value to any of the coins I listed above. The whole purpose of blockchain/tangle is to verify and send data in an efficient and timely manner.

The only one that is kinda accomplishing this is LTC because it goes through within 20 minutes. ETH takes forever and so does BTC so they absolutely fail in their design and are over valued.


BTG may be a crap coin - but it has one advantage over BTC and that's the fee cost. Same with BCH.

[brownfly]

Other than smart contracts - what has ETH brought to the table that provides value? Actual value that brings companies to the table to invest??

what is actual value if fiat currency that all we like?

[Pumperdumper]

Other than smart contracts - what has ETH brought to the table that provides value? Actual value that brings companies to the table to invest??

what is actual value if fiat currency that all we like?

The GDP of the country from which the fiat currency originates from?

LOL

How dumb is that question - a fiat currency is based on the local population that goes out and works, provides a service or product, puts the product or service into the market and attempts to make a profit. Also albeit a small percentage is from outside countries holding that fiat currency in reserve - AKA the US dollar is held in multiple countries as a reserve currency to provide security in case the local fiat currency loses value.

If tomorrow the CC bubble bursts - there would be only 3-5 coins that would be able to liquidate their property to cover the losses incurred by investors.

What does BTC have to offer that would cover it's investors? Does it own buildings? Does it own technology that is patented that it could sell off? Does it own land?

BTC / ETH / LTC / BCH / BTG have nothing that they can liquidate to cover losses. It is pure SPECULATION at this point.

Maybe tomorrow BTC buys up land and builds malls and introduces a payment gateway - that would build confidence and provide something tangible. But nope - BTC just wants to be the next gold standard.

And you guys think BTC is different than BTC or BCH or that ETH is somehow different than BTC


LOLOLOLOLOL


I love it tho - your guys's speculations provide volatility in the market which creates so many opportunities to make money.

[brownfly]

Hmm... Have you ever heard about trust? It is what gives currency its value. People's trust.

[WaveFront]

Other than smart contracts - what has ETH brought to the table that provides value? Actual value that brings companies to the table to invest??

what is actual value if fiat currency that all we like?

The GDP of the country from which the fiat currency originates from?

LOL

How dumb is that question - a fiat currency is based on the local population that goes out and works, provides a service or product, puts the product or service into the market and attempts to make a profit. Also albeit a small percentage is from outside countries holding that fiat currency in reserve - AKA the US dollar is held in multiple countries as a reserve currency to provide security in case the local fiat currency loses value.

If tomorrow the CC bubble bursts - there would be only 3-5 coins that would be able to liquidate their property to cover the losses incurred by investors.

What does BTC have to offer that would cover it's investors? Does it own buildings? Does it own technology that is patented that it could sell off? Does it own land?

BTC / ETH / LTC / BCH / BTG have nothing that they can liquidate to cover losses. It is pure SPECULATION at this point.

Maybe tomorrow BTC buys up land and builds malls and introduces a payment gateway - that would build confidence and provide something tangible. But nope - BTC just wants to be the next gold standard.

And you guys think BTC is different than BTC or BCH or that ETH is somehow different than BTC


LOLOLOLOLOL


I love it tho - your guys's speculations provide volatility in the market which creates so many opportunities to make money.

Ever since western countries abandoned the Gold Standard after second world war, fiat currencies exchanges rates have been floating. There was an attempt to use the USD as a new standard under the promise of the federal reserve of not changing the exchange rate between USD and Gold, but this was abandoned in October 1976, when the US government officially changed the definition of the dollar and references to gold were removed from statutes.

In practice, fiat currencies exchange rates are governed by offer and demand, exactly like cryptocurrencies. The only difference is that central banks try (not always very well) to buffer the swings by buying and selling currencies using their own reserves. Central banks also try (not very well) to control monetary volumes by setting interbank interest rates.

How fiat monetary volumes increase? Through bank loans and mortgages (when you get a mortgage you practically create money out of thin air, backed by the asset that you are trying to buy)
How cryptocurrencies monetary volume increase? By mining.

The day we go through another serious economic crisis, people might lose once for all, trust in fiat money and the weight of cryptocurrencies will increase.

[WaveFront]

i was thinking of trying to mine this coin but after reading this thread... no way 

same here, too many great alt coins that I have more confidence in. I will pass on bitcoin gold...for now

If we consider the typical evolution of a new Cryptocurrency, you always have a sharp increase after launch and then a sudden decrease, until the moment it reaches a threshold and then it starts growing again. I suspect we will have to wait until the price reaches approximately 120 USD, before it starts recovering.

[Pumperdumper]

Other than smart contracts - what has ETH brought to the table that provides value? Actual value that brings companies to the table to invest??

what is actual value if fiat currency that all we like?

The GDP of the country from which the fiat currency originates from?

LOL

How dumb is that question - a fiat currency is based on the local population that goes out and works, provides a service or product, puts the product or service into the market and attempts to make a profit. Also albeit a small percentage is from outside countries holding that fiat currency in reserve - AKA the US dollar is held in multiple countries as a reserve currency to provide security in case the local fiat currency loses value.

If tomorrow the CC bubble bursts - there would be only 3-5 coins that would be able to liquidate their property to cover the losses incurred by investors.

What does BTC have to offer that would cover it's investors? Does it own buildings? Does it own technology that is patented that it could sell off? Does it own land?

BTC / ETH / LTC / BCH / BTG have nothing that they can liquidate to cover losses. It is pure SPECULATION at this point.

Maybe tomorrow BTC buys up land and builds malls and introduces a payment gateway - that would build confidence and provide something tangible. But nope - BTC just wants to be the next gold standard.

And you guys think BTC is different than BTC or BCH or that ETH is somehow different than BTC


LOLOLOLOLOL


I love it tho - your guys's speculations provide volatility in the market which creates so many opportunities to make money.

Ever since western countries abandoned the Gold Standard after second world war, fiat currencies exchanges rates have been floating. There was an attempt to use the USD as a new standard under the promise of the federal reserve of not changing the exchange rate between USD and Gold, but this was abandoned in October 1976, when the US government officially changed the definition of the dollar and references to gold were removed from statutes.

In practice, fiat currencies exchange rates are governed by offer and demand, exactly like cryptocurrencies. The only difference is that central banks try (not always very well) to buffer the swings by buying and selling currencies using their own reserves. Central banks also try (not very well) to control monetary volumes by setting interbank interest rates.

How fiat monetary volumes increase? Through bank loans and mortgages (when you get a mortgage you practically create money out of thin air, backed by the asset that you are trying to buy)
How cryptocurrencies monetary volume increase? By mining.

The day we go through another serious economic crisis, people might lose once for all, trust in fiat money and the weight of cryptocurrencies will increase.

Yes, yes, I completely understand where you're coming from and agree - to an extent.

But this is the reality of BTC - it is driven, purely and solely on speculation of price points. When price confidence is high - BTC goes up. When confidence wanes, it goes down. This is not how fiat currencies work.

This can be seen by the monthly corrections. However, let's say that BTC hits $100k per coin - the only way to buy into BTC is through fiat currency. If all of a sudden confidence is shaken from a number of things - the $100k starts sliding. Each slide that occurs - you lose the fiat currency value that was put into BTC. Effectively taking away from the wealth of everyone involved and directly impacting local and national economies.

Miners will not always be there - BTC will have to evolve to cater to needs. The fees for one thing are a HUGE obstacle for BTC. The coding will be another obstacle.

As soon as quantum computing becomes widely used - 51% network attacks will be a real thing - they will be able to manipulate BTC transactions. Transactions times will increase. There will be more hard forks in the future and people will simply get frustrated. These things will impact confidence.

BTC was great from 2012 to today and possibly the next 2-3 years but who knows after that - the cloud of doubt is made strictly because BTC is a product of speculation.


Speaking of speculation - look at BTG and BCC this morning - both of them dropped last night 25-30% and are now up to break even. Their going to fall a little bit more during the next few days - people's confidence will go away and so will the volume and then the whales will come back in, throw it back up and bam - all of a sudden confidence is back.

[ben8jam]

I'm a huge supporter of crypto and believe in a future for it, but pumper dumper (dude you know they make fiber pills that'll help with that  ) is right. All crypto is pure speculation. It's not tied to anything but a desire to make money. And that's okay for right now. It's a road map till people really start using it on scale. And it'll probably end up being used in a way we don't even expect right now.

[brownfly]

As soon as quantum computing becomes widely used - 51% network attacks will be a real thing - they will be able to manipulate BTC transactions. Transactions times will increase. There will be more hard forks in the future and people will simply get frustrated. These things will impact confidence.

we have at least 20 years (just watched one more quantum cryptography presentation at a security conference).
Also smart people already proposed "quantum-resistant" bitcoin variations or even cryptocurrency is based on quantum cryptography that potentially could be even more robust than traditional public key cryptography:
https://spectrum.ieee.org/tech-talk/computing/networks/qbitcoin-making-bitcoin-quantumcomputer-proof

[sangwookie]

I'm a huge supporter of crypto and believe in a future for it, but pumper dumper (dude you know they make fiber pills that'll help with that  ) is right. All crypto is pure speculation. It's not tied to anything but a desire to make money. And that's okay for right now. It's a road map till people really start using it on scale. And it'll probably end up being used in a way we don't even expect right now.

I agree with this sentiment. I bought out of speculation and interest in the project. I thought it would be like gold or stocks, but the more I work with it, I realize it is something much more. There is belief in this coin and the decentralization of banking and FIAT. It's the Airbnb and Uber of the the financial world and many suits are worried. Anarchy but with an emergency button to get out.

[bytiges]

A full day with no comments. I take it nobody is mining it any more ? I sure am not. Lost 8 hours day 1 and had enough.

[Elder III]

A full day with no comments. I take it nobody is mining it any more ? I sure am not. Lost 8 hours day 1 and had enough.

It's still one of the top profit per day coins right now, not the top coin, but one of the better ones. I've had a few personal GPUs pointed at it when not gaming etc... and I've been pleased with the results (zero downtime on Suprnova) since launch.

[binkyj357]

Not mining currently, but really only because I wanted to add some Electroneum to my portfolio. Plus I wanted to make sure my 2nd payout went as well as the first, which it did. May switch back tonight depending on how the day goes. Launch was rough as hell, but I still think it's too soon to count BTG out of the game.

[gateway]

Who all here is mining BTG?

[fynxgloire]

Who all here is mining BTG?

I am on suprnova, till I get a few coins then I will switch it up, maybe go back to Etherium or Zcash.

[Marvell2]

Who all here is mining BTG?

I still have all my nvidia gpus pointed to it

until it gets less profitable than zcash ill stayon on it

[gateway]

yea we are also mining it.. we opened up our pool a while ago.. see sig.

[binkyj357]

Who all here is mining BTG?

Just got back in this morning.

[lankyman]

Hi, at this point in time, is it fine for me to start mining with 2 GPU RX470 cards?
Best reliable mining pool? and what king of reward can i get per day?
Please dont point me to whattomine or coinwarz, because those sites make no sense to me - Some value are real and some not - at least in my world.
Or am i better off mining with NHM
Ive just wanted to , somehow always find a coin to try and focus on, but it seems im always late for the bus.
Are there any buses going to town still?