Why I stopped mining BTC and went to BET.

[phazon307]

I first started mining about a month ago at 12G/h I bought by stuff before the big rise back when BTC was around 150 a pop. Sense then I have only accumulated a very small amount around 0.19 BTC most of that increase was from Satoshi's Circle spinning the wheel. Well I started looking for other alternatives because at current increases in BTC difficulty I won't even be making more than 50c a day that means it has become unrealistic to mine them, not to mention the skyrocket prices of block erupters and miners. I missed on the BTC thing to earn a nice profit like the early starters, so I went to BET it's new and difficulty isn't very high the only downside is that difficulty skyrockets really fast after 6 blocks. Well that being said I thought I would start on this coin and get a nice chunk of them before all the big boys come and start tearing away at this I suggest anyone who doesn't have thousands of dollars to invest in miners to get your kiester over to a betacoin mining pool and get on it before it's to late. The increase in this coin has been substantial sense it's release sure it's not that much but neither was BTC when it first came out.

[svebos]

Look at eMark - it hits 30Thash today, and is still very young (2 months)

[phazon307]

Yea I suspect the same thing will happen with BetaCoin as well it's at 2TH so I am sure it will reach that as well in the coming weeks there is already a store that accepts Betacoins so that's a +

[empoweoqwj]

Mining altcoins is fun because you get lots of them very quickly. Whether they are any more profitable (or loss making) than btc depends how which coin you choose and how lucky you are. Most will just tank and mining them will be worthless.

[phazon307]

Very true that's why I am hoping bet goes up significantly in price.

[cshelswell]

I got 20,000 coins early on with my 20GHs rig - A pretty good coin to choose I reckon.

[phazon307]

I want to solo mine but it is confusing as heck all I know is I need to use the betacoin.conf file use rpc user name rpc password but what I don't understand is the rest of the stuff like how to put my ip in their and how to run it in bfgminer.

[cshelswell]

I want to solo mine but it is confusing as heck all I know is I need to use the betacoin.conf file use rpc user name rpc password but what I don't understand is the rest of the stuff like how to put my ip in their and how to run it in bfgminer.

it's the same as bitcoin. Just have your betacoin wallet open then run something like:

Code:

./bfgminer -o http://127.0.0.1:32332 -u username_in_conf_file -p password_in_conf_file

and that's pretty much it. If you score a block you'll just see it in your wallet

[phazon307]

I know that part I just don't know how to set up the conf file.

[cshelswell]

probably a good place to start http://betacoin.org/downloads or have you already done that and it's not working?

Sample betacoin.conf:

Code:

rpcuser=myname
rpcpassword=mypassword
maxconnection=50
rpcallowip=127.0.0.1
rpcallowip=192.168.0.*
rpcport=32332
server=1
listen=1
addnode=76.74.177.244

[phazon307]

Well I can't figure out what info to put or how to make a username in my betacoin.conf file then use a script to run bfg miner.

[phazon307]

How do I put my ip in there?

[phazon307]

Like say my ip is 192.168.0.x and in that conf file do I just make up anything then in my bfg miner put -0 then what?

[cshelswell]

I'm guessing you must be on a windows system? I'm afraid I'm mac and linux so setting it up on a windows box i'm not sure where to put your conf file but if you just copy the instructions for bitcoin but use the conf file for betacoin you'll be away. Just use something like notepad to create your conf file. All you need to do is save it in the right place. You'll have to look up running bfgminer on windows though.

[empoweoqwj]

I got 20,000 coins early on with my 20GHs rig - A pretty good coin to choose I reckon.

And how much are they worth if you converted to BTC say, or fiat?

[cshelswell]

If I'd sold earlier today enough to ROI 16 block erupter a and a jally not to mention I already recouped them on other altcoins anyway if I sold now not as much but I'll sit and see. Got rid of half early on and got 1.2btc now I've just over 10000 so we'll see where it goeS

[AceCobra1]

I noticed that the coins you guys are talking about are all SHA256 based coins. I will have my 8x 7950s but i was thinking of just mining scrypt currencies with it. Is there any point mining SHA256 currencies since GPUs will get annihilated by ASIC miners?? Or is ASIC miners only possible to be use with bitcoin??

[phazon307]

if you have 8x I would stick to lite coins scrypt currencies gain more in value faster because they are harder to mine.

[lalakies23]

For the same reasons you have described i have switched ALL my miners to Betacoin and will keep mining it until the end of the universe.

When the price skyrockets we will see a lot of regrets from a lot of people.

As i hear the developers will show us things no other cryptocurrency presented yet!!!

It is the only cryptocurrency which is generic (not nationality wise like the Deutche emark ) and many features are being deployed as we speak.
Also it is fair with no premines and gives equal opportunities even to people just started to have profits.

Last but not least it is 2.5x faster than Bitcoin providing you equal security and you can find a strong community of believers which they 'll guide you to anything related!!!

[empoweoqwj]

For the same reasons you have described i have switched ALL my miners to Betacoin and will keep mining it until the end of the universe.

When the price skyrockets we will see a lot of regrets from a lot of people.

As i hear the developers will show us things no other cryptocurrency presented yet!!!

It is the only cryptocurrency which is generic (not nationality wise like the Deutche emark ) and many features are being deployed as we speak.
Also it is fair with no premines and gives equal opportunities even to people just started to have profits.

Last but not least it is 2.5x faster than Bitcoin providing you equal security and you can find a strong community of believers which they 'll guide you to anything related!!!

How very exciting. Which retailers accept it? Which countries have betacoin ATM machines? Even the name sounds like a joke. Who's going to trust a currency called "beta" lol