8th Alt coin thread. Or what to do now that asics are all over the place.

[nsummy]

@r0mi all this time your putting in smashing this coin , you could be hitting $10 per card days ( second day in a row for me). And flipping to whatever unicorn coin you think the play is. Yeah it maybe a shady coin. So are all other shit coins. That’s why we are here. To mine shitcoins.

Money is money. Can’t argue with the current numbers.

Rsx1, I am not sure you understand what I am driving at. 

WTC is just one example out of many, many more - they all have the same stinkin' MO.  Someone asked me for help, that got me looking into WTC, but it could just have easily have been any of about 5 dozen other coins.  It just happened to be WTC that opened the can of worms for me.

Sure, make hay while the Sun shines and God Bless.  I wish you well, I really do.  But this is insanity, and it will not last.

And, I beg to differ:  I actually think blockchain technology is a big deal.  And there are a few coins that I also think are valid and a big deal.  And I didn't pick up mining just so I could mine ShitCoins that would be sold to people that would lose all their money.  Yes, they may be stupid.  Yes, they are certainly not doing their research.  But a lot of people are going to get badly burned.

Money is Money? - come on, I could use that line to justify every type of fraud and crime imaginable.  I don't believe you are actually like Li Xiaolai, so stop talking like him.

I agree.  I've been mining shitcoins lately because its what is most profitable, but I always feel better when a mainstream coin provides the most profit.  The biggest benefit is not feeling the need to dump your coins on the exchange every day because you know the price is dropping.

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[philipma1957]

Okay I got multiple  donations of $250  coupons from bitmain  today  I am going to use a few of the 5 sent to me  but  I may not use all of them.

they die in about 20 hours.

I paid zero for them. So to be fair I should not sell them for 10% each  25 usd.

So I won't do this.

let me know via pm if you want 1

of the five given to me I have been asked for 1 which I will send in about 2 hours.

I have 4 left of which  am going to use 2.

So I have 2 left to give away  maybe 1.  I may buy 3 s9's 

[hawkfish007]

Okay I got multiple  donations of $250  coupons from bitmain  today  I am going to use a few of the 5 sent to me  but  I may not use all of them.

they die in about 20 hours.

I paid zero for them. So to be fair I should not sell them for 10% each  25 usd.

So I won't do this.

let me know via pm if you want 1

of the five given to me I have been asked for 1 which I will send in about 2 hours.

I have 4 left of which  am going to use 2.

So I have 2 left to give away  maybe 1.  I may buy 3 s9's 

Thanks for the coupon, I put it in to good use just now 

[Elder III]

I agree.  I've been mining shitcoins lately because its what is most profitable, but I always feel better when a mainstream coin provides the most profit.  The biggest benefit is not feeling the need to dump your coins on the exchange every day because you know the price is dropping.

Yes, there is a much bigger sense of security when mining one of the "big boy" coins compared to the more speculative little coins.  Depending on the size of one's farm it may be worth considering mining half speculative coins and half "secure" coins (as much as any coin is secure of course).

[philipma1957]

Thank you to the donors. of the $250 bitmain coupons

I spent 2  and gave 3 away.

I got six s9i's  all new all at very good prices.

I don't have any  cheap power left, but I will hold them nib on spec.

I paid under 3100 for six s9i's  hard to resist that price.

in the meantime mining some bitcoin-gold


https://btgexplorer.com/address/ARGBeXzU8WkTZSNtMx8rg6PAHLAf6LmR9u

1 earned  working on number 2.

plan is mine 5 sell 3 and keep 2.  over and over and over

it is forked so  no asic's

[KaydenC]

Okay I got multiple  donations of $250  coupons from bitmain  today  I am going to use a few of the 5 sent to me  but  I may not use all of them.

they die in about 20 hours.

I paid zero for them. So to be fair I should not sell them for 10% each  25 usd.

So I won't do this.

let me know via pm if you want 1

of the five given to me I have been asked for 1 which I will send in about 2 hours.

I have 4 left of which  am going to use 2.

So I have 2 left to give away  maybe 1.  I may buy 3 s9's  

Thanks for the coupon, I put it in to good use just now  

Didn't know you had them. Would have bought them from you for $50 each. But the z9 minis are out of stock now.
Literally paid for 2 coupons and the z9 mini went OOS before I can buy it.

[nsummy]

Yah unfortunately the z9 mini is their only item that looks lucrative.

Phil, do you think BTG is better than LUX for profitability?

[philipma1957]

Yah unfortunately the z9 mini is their only item that looks lucrative.

Phil, do you think BTG is better than LUX for profitability?

Yes but I will be Mining it for months.

Sell some and hodl the rest.

[rs1x]

Okay I got multiple  donations of $250  coupons from bitmain  today  I am going to use a few of the 5 sent to me  but  I may not use all of them.

they die in about 20 hours.

I paid zero for them. So to be fair I should not sell them for 10% each  25 usd.

So I won't do this.

let me know via pm if you want 1

of the five given to me I have been asked for 1 which I will send in about 2 hours.

I have 4 left of which  am going to use 2.

So I have 2 left to give away  maybe 1.  I may buy 3 s9's  

Thanks for the coupon, I put it in to good use just now  

Didn't know you had them. Would have bought them from you for $50 each. But the z9 minis are out of stock now.
Literally paid for 2 coupons and the z9 mini went OOS before I can buy it.

Z9 mini show in stock at the moment. For the August / sept batch.

[rs1x]

I think I have 1 or 2 bitmain coupons that recently expired.

Only asic I’m running now is a Z9 mini.

Paid $2k in coin for it.

Makes on average $25 a day. Been online for 25 days ish.

I’m 1/4th to capital recovery.   I think the next 3/4 will take longer than 75 days as difficulty goes up.


I am mining ZEC and flipping to BTC once a week.


The reason I post this is , even with the coupons I don’t know what I would have the balls to buy more gear at the moment. I admire those of you not being gun shy.

[philipma1957]

I think I have 1 or 2 bitmain coupons that recently expired.

Only asic I’m running now is a Z9 mini.

Paid $2k in coin for it.

Makes on average $25 a day. Been online for 25 days ish.

I’m 1/4th to capital recovery.   I think the next 3/4 will take longer than 75 days as difficulty goes up.


I am mining ZEC and flipping to BTC once a week.


The reason I post this is , even with the coupons I don’t know what I would have the balls to buy more gear at the moment. I admire those of you not being gun shy.

z9  mini or maxi  is a no go for me.

but 6 s9i's for 3100  are worth it.

I am not sure if buysolar gets more power on line any time soon.  but I now have lots of spare gear  to replace any that dies.

and even if we don't expand the panels we will use more gear in the winter as both of us heat our homes  with mining gear for the winter.

I dont see btc gear ever getting much past 0.05 watts  so the s9i's will hold there own at 0.099 watts

[R0mi]

https://www.youtube.com/watch?v=RzhXncTVOzA

This is the one ^^^ where I said hit pause at 1:08, 1:12, 1:16.  Now, compare and contrast with "Meet team Walton! #5"

https://www.youtube.com/watch?v=qYnJI9pu0UE

Again, play on High Rez, enlarge the screen, focus on the monitor in the lower left, which is closest.  The guy literally scrolls up, then down, then up on a JPG of some clothing articles.
Same office, but the spokesperson is from a different ("subsidiary/partnership") company.  Nobody is coding squat in this office.

"If this were a giant scam, the Chinese would crack down on it!"

"The China Hustle," a documentary movie, no longer seems to be up on Netflix, but it is available on Amazon Prime.  It is worth renting for $4.  You may be able find part of the film for free by searching.

https://www.dailymotion.com/video/x6iz00e  (pt. 1)

It is eye-opening.

WTC is the tip of the iceberg, my point is that this is widespread, so widespread that it will collapse.  Eventually.  Some interesting reviews of other coins may be found on shitcoin.com - really good review of IOTA that doesn't name call or attack personalities, just examines how the software works (or doesn't).

[MikaelBlomvist]

Hey guys, I've been out of the mining game for a while. Really, for a while.

I just checked bitmain and the antminers are at $300-$700, wtf? I'm still wondering if I was stoned but last time I remember those were >$1000? WTF happened?

[philipma1957]

Hey guys, I've been out of the mining game for a while. Really, for a while.

I just checked bitmain and the antminers are at $300-$700, wtf? I'm still wondering if I was stoned but last time I remember those were >$1000? WTF happened?

asic builders flooded the market with gear  driving prices down

but  look at it like this


btc 20000 a coin   antminer s9  0.1 btc = 2000  or 1 btc


btc 6000 a coin   antminer s9 0.1 btc = 600 or 1 btc


in both case bitmain  gets 0.1 btc  sooo   sooner or later  they will attempt a pump

to go back to 20000

if I were you I would buy coins not gear.

[rs1x]

Hey guys, I've been out of the mining game for a while. Really, for a while.

I just checked bitmain and the antminers are at $300-$700, wtf? I'm still wondering if I was stoned but last time I remember those were >$1000? WTF happened?

asic builders flooded the market with gear  driving prices down

but  look at it like this


btc 20000 a coin   antminer s9  0.1 btc = 2000  or 1 btc


btc 6000 a coin   antminer s9 0.1 btc = 600 or 1 btc


in both case bitmain  gets 0.1 btc  sooo   sooner or later  they will attempt a pump

to go back to 20000

if I were you I would buy coins not gear.

Love the advice. I’m trying to get my hands on as much as btc as possible , hoping to ride a big wave of institutional or bitmain money.

[MikaelBlomvist]

Well yeah, i've mostly been interested in mining an alt, with the sole point of accumulation more bitcoin of course. Now the price of those asics are making me interested on it again

[Elder III]

I also suspect that the big whales/manipulators will try to do a big BTC pump before the end of the year.  If more institutional/investment money comes in as well then the pump might be more sustained, but I think that depends allot on regulations at this point. 

*I hope that ICOs get regulated heavily - crypto needs to get that albatross of scams and cesspools off of our necks to ever see any kind of mainstream adoption.

[philipma1957]

I also suspect that the big whales/manipulators will try to do a big BTC pump before the end of the year.  If more institutional/investment money comes in as well then the pump might be more sustained, but I think that depends allot on regulations at this point. 

*I hope that ICOs get regulated heavily - crypto needs to get that albatross of scams and cesspools off of our necks to ever see any kind of mainstream adoption.

I was pissed off that gpus got attacked by asics. Since millions of people could mine with a gpu it helped for broad usage .

But killing off and reducing coins and icos from 1600 to 100 or 200 would help.

I would love to have a set limit of coins per algo  two or three tops as it could force more new algos to come into exsistence.

I also am pretty much anti pos for coins

I would not allow a pure pos coin of any kind.

At best hybrid pos-pow

As much as I try to understand how a pos coin can’t work with no mining I simply see all pos only coins as impossible to truly work.

[jmigdlc99]

I would not allow a pure pos coin of any kind.

As much as I try to understand how a pos coin can’t work with no mining I simply see all pos only coins as impossible to truly work.

Hi philip.

Not against your opinion and i'm a miner myself, but i'm quite curious. There are already lots of research articles on POS and how much more efficient and secure the mining process can be, would you like to explain why you believe these protocols won't work?

[philipma1957]

I would not allow a pure pos coin of any kind.

As much as I try to understand how a pos coin can’t work with no mining I simply see all pos only coins as impossible to truly work.

Hi philip.

Not against your opinion and i'm a miner myself, but i'm quite curious. There are already lots of research articles on POS and how much more efficient and secure the mining process can be, would you like to explain why you believe these protocols won't work?

what backs the coin?

a pow electrical power spent and mining gear back the coin.


kind of an equivalent to silver or gold standard.

in the case of a pos the coin is not backed by power spent or by gear mining.

it is backed by fiat tendered for coin.  much closer to a bank then pow.

note i said pure POS   not hybrid such as ETH or PPC

To me POS is much like a bond or a cd

Now I have stayed clear of POS  when I had a run in with PPC   I had staked 2000 ppc coins and they were due to do earn 3% for staking ..  The dev came out with a new wallet and said it was needed to switch to it  by a set date.  3 or 4 people had all their coins vanish  when doing the upgrade.  2000 coins were worth about 1100 usd.  I would have taken a shot  at the update but I had my wallet on mac and they did not do a mac update.  I talked it over on there site got no help and decided to cash out.  I never did pos  after this and they were a pos/pow hybrid  which was what I liked about them.

If I can not mine coins at a certain profit  even a small profit  I am not doing a business.

I don't know of any pure pos coin that allows this.

ie I stuck with a stake cost   which is not controllable  at my level.

With pow I can control

 power cost
 gear cost
 earn certain profit on a coin

for instance BTG   I earn .4 a day that is split on my power deal  so it is a certain 0.20 BTG a day

my gear cost = 0    so 0.20 x 365 = 73 BTG a certainty to a degree   that is 12 a month  sell 6 hodl 6  end of the year  sold 36 held 36

make money.

I can not do this with pos