-

[Komodorpudel]

Would still rather just see the Alt Coins be turned into BTC (About 26 BTC by my estimates currently) and distributed with dividends with 25% being kept by LRM as it is profits from mining.

Reinvesting it in overpriced CEX.IO gear would be a waste and just push payback time further out as 26 BTC is only going to get around ~550GH currently at CEX.io prices (~0.2BTC/Day).

To put this in perspective it would take 130 Days to get that back if difficulty DIDN'T change.
I also didn't sign up to play the CEX.io Market with shareholder gear.

Let's not waste money simply to have more hashing power please.

Seconded...

LRM needs to be buying sub $5/GH to stay competitive.

Already on it.

Final news (specifics) on the BitFury deal coming out within the next week and the numbers look good. 

Seriously, shouldn't you stop mining at GHash.IO???

They already got 38% of the total network hashrate?

https://blockchain.info/de/pools

[BKM]

Interesting Fact.... it would appear that the aggregate hashrate at CEX.IO is 50Th/s - hmmmmm.... hmmmmm....

Am I wrong? https://www.cex.io/redeem appears to list all the hardware and the amount hashing.  Perhaps this would represent a pivot opportunity for LRM to offer up some competition. I know for a fact that we have some pretty heavy hitters from a coding and business perspective on the LRM bondholder team now.....

[||bit]

The referral bonus only includes purchased GHS

Oh, that sucks, so I moved pools thinking I was helping LRM while it does nothing at all :/

It can help.

Use the NMC you generate and buy GHashes... everything you buy makes 3% of that amount get added to LRM.

+1

I'm trying to figure out exactly what would best help LRM with these alt coins we're mining.  There are plenty of ways they can help.

If you feel you must buy something. Then evaluate the return on buying GPU hardware to mine alt coins to in turn buy BTC. The return on investment might be as good as buying Bitfury hardware, and the hardware delivery is as fast as you can order video cards online. Check for a PM from me on this.

[||bit]

I vote more long term like the asic project. Think buying a few Ghs now would be short term due to the rapid difficulty increase...

Heh.  Holding seems to almost always the best bet.  


grnbrg.

+10

except..only if the idea is to buy more hardware with it after holding...not to redistribute as dividends (otherwise, just pay the dividends now to the same effect).

[||bit]

Buying GH on CEX is a bad idea, imo.

A better idea would be for LR to buy LRM bonds from people selling them. And deleting the acquired amount from the list of outstanding bonds.

[BKM]

Buying GH on CEX is a bad idea, imo.

A better idea would be for LR to buy LRM bonds from people selling them. And deleting the acquired amount from the list of outstanding bonds.

Good point

This is a tried and true strategy for companies which feel their share (bonds) are undervalued. It is also a huge confidence statement on the part of management.

[||bit]

Buying GH on CEX is a bad idea, imo.

A better idea would be for LR to buy LRM bonds from people selling them. And deleting the acquired amount from the list of outstanding bonds.

Good point

This is a tried and true strategy for companies which feel their share (bonds) are undervalued. It is also a huge confidence statement on the part of management.

Reverse dilution... or bond buy-back.... akin to what I think is termed accretive acquisition.

[M31]

Buying GH on CEX is a bad idea, imo.

A better idea would be for LR to buy LRM bonds from people selling them. And deleting the acquired amount from the list of outstanding bonds.

Good point

This is a tried and true strategy for companies which feel their share (bonds) are undervalued. It is also a huge confidence statement on the part of management.

Yeah, I'd like to see this happen.  Less outstanding bonds for the same # rate sounds good.

[Ashitank]

Buying GH on CEX is a bad idea, imo.

A better idea would be for LR to buy LRM bonds from people selling them. And deleting the acquired amount from the list of outstanding bonds.

Good point

This is a tried and true strategy for companies which feel their share (bonds) are undervalued. It is also a huge confidence statement on the part of management.

Yeah, I'd like to see this happen.  Less outstanding bonds for the same # rate sounds good.

This may be the best or perfect idea about what to do with alts earned , very cool.

[||bit]

If LR really thinks the future of LRM is golden - especially with the ASIC's in a few months - this should be a no-brainer to what's best for LRM & bond holders, I'd think.

[bobfranklin]

Buying GH on CEX is a bad idea, imo.

A better idea would be for LR to buy LRM bonds from people selling them. And deleting the acquired amount from the list of outstanding bonds.

Good point

This is a tried and true strategy for companies which feel their share (bonds) are undervalued. It is also a huge confidence statement on the part of management.

Seconded

-DiggeR

[deizel]

Seriously, shouldn't you stop mining at GHash.IO???

They already got 38% of the total network hashrate?

https://blockchain.info/de/pools

Seem everyone is boycotting today - https://bitcointalk.org/index.php?topic=327767.msg4406320#msg4406320

[Flashman]

I am unhappy that we are mining on ghash.io also.

My policy would be, big enough pool to get reasonable variance and stability, nothing bigger.

[Komodorpudel]

I am unhappy that we are mining on ghash.io also.

My policy would be, big enough pool to get reasonable variance and stability, nothing bigger.

That is probably the best.

41% in the last 24 hours...that is crazy.

I know, moving to another pool is a bit of a work for LRM, but it should be done.

[daemonfox]

While I understand the points, and everyone's frustration about GHash.io and CEX.io... just as Lab_Rat confirmed our Bitfury gear is nearly here, would you not agree others have gotten theirs just recently? Are we really freaking out because CEX probably got a shit ton of Bitfury gear and put it all online faster than the public can get theirs online? I get it, they are the biggest pool right now... but there is a finite amount of hardware that they can add due to supply and this is likely a spike and will be countered shortly by others putting gear online at other pools.

I feel like the FUD is hysterically spreading... and should GHash.io do something stupid, the external miners will leave and there won't be an issue anymore.

For right now though... who else has a pool for external miners with zero fees and triple merge mining AND a consistent uptime? Add the internal exchange and the fact you can send LTC to trade for BTC and buy GHashes... it is easy to see why most want to be there.

Maybe, instead of boycotting GHash.io, the community needs to challenge the other pools to step it up? If they were as attractive as GHash.io, we would again not have a problem.

[BKM]

While I understand the points, and everyone's frustration about GHash.io and CEX.io... just as Lab_Rat confirmed our Bitfury gear is nearly here, would you not agree others have gotten theirs just recently? Are we really freaking out because CEX probably got a shit ton of Bitfury gear and put it all online faster than the public can get theirs online? I get it, they are the biggest pool right now... but there is a finite amount of hardware that they can add due to supply and this is likely a spike and will be countered shortly by others putting gear online at other pools.

I feel like the FUD is hysterically spreading... and should GHash.io do something stupid, the external miners will leave and there won't be an issue anymore.

For right now though... who else has a pool for external miners with zero fees and triple merge mining AND a consistent uptime? Add the internal exchange and the fact you can send LTC to trade for BTC and buy GHashes... it is easy to see why most want to be there.

Maybe, instead of boycotting GHash.io, the community needs to challenge the other pools to step it up? If they were as attractive as GHash.io, we would again not have a problem.

Agreed - its like Bata going to Africa and seeing a market rather than a place where nobody buys shoes..... CEX / Ghash needs a viable competitor. The model is clearly successful. Its an opportunity. In the meantime, they are about as likely to roast the goose that lays the golden egg as they are to screw up the very  thing that makes them successful. I predict that they will announce shortly, much like Slush or BTCGuild (if I recall correctly) did a while back, that they will throttle the join rate to limit the % growth.

[fractal02]

Ghash.io answer : https://ghash.io/ghashio_press_release.pdf

[bigasic]

If they tried a double spending attack, It would be very foolish. While they would get away with some coins, I don't think that they would get away with much. They are making too much money right now. If they did an attack, it would make the coin plummet along with their business. Do I think we should worry about it? absolutely, but it makes no sense as to why they would do a 51 percent attack, why  ruin a good thing?

If they keep to their recent statement, I think everything will be fine. Lets hope that other pools start to get bigger..

[Mindsync Miner]

Maybe we could consider bitparking.

• 4 merged coins
• 1.5% BTC fee
• Transaction fees paid to block finder

The down side is that it's `18.8 TH/s total.  LR would more than double it's hash rate but it might not be enough for low variance.
I'm also unsure about features like notifications if offline etc.

[grnbrg]

Maybe we could consider bitparking.

• 1.5% BTC fee
• Transaction fees paid to block finder

Given our hashrate, these two would cancel out.  Maybe even end up ahead of a zero fee pool....


grnbrg.