arielbit
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Activity: 3416
Merit: 1059
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July 17, 2018, 01:25:51 AM |
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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 POS can be mined indirectly with the help of pools and exchanges...like a multipool that mines the most profitable coins, dumps them and buy a certain POS coin......if the exchange or the multipools fucks up...then back to staking until somebody setup another multipool. I got really lucky with this POS coin http://www.presstab.pw/phpexplorer/SLS/richlist.phpthe dev backs it up with other coins..i have really no idea what's cookin' there though.
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philipma1957 (OP)
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Activity: 4214
Merit: 8299
'The right to privacy matters'
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July 17, 2018, 01:39:27 AM |
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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 POS can be mined indirectly with the help of pools and exchanges...like a multipool that mines the most profitable coins, dumps them and buy a certain POS coin......if the exchange or the multipools fucks up...then back to staking until somebody setup another multipool. I got really lucky with this POS coin http://www.presstab.pw/phpexplorer/SLS/richlist.phpthe dev backs it up with other coins..i have really no idea what's cookin' there though. yes a 3 step plan is mining indirectly, but it is mining the coin. still you dumped coins back by power and gear for coins backed basically on imagination. Not saying that you can't make money that way. It is just a lot risky compared to what I do. I mine BTG today with gear that is paid off. I sell enough BTG to pay the power. I hold only the paid off BTG = I absolutely make money.
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JaredKaragen
Legendary
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Activity: 1848
Merit: 1166
My AR-15 ID's itself as a toaster. Want breakfast?
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July 17, 2018, 02:03:27 AM |
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right now, I only hold one POS coin... and I am holding the coin not to stake it... I just found that I generated about ~.0001 BTC worth of that coin per day.. so its a bonus. I own a little over 2% of that coin's supply.
I do like the idea of buying into a coin to put value into "storage" to support the coin... but it has many downsides.
People keep tying the value of BTC to other things, this distorts perspectives a LOT.
ETH has always claimed it will be independent of BTC's value; but the nature of exchanges moots that objective/point.....
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adaseb
Legendary
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Activity: 3822
Merit: 1723
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July 17, 2018, 06:58:05 AM |
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right now, I only hold one POS coin... and I am holding the coin not to stake it... I just found that I generated about ~.0001 BTC worth of that coin per day.. so its a bonus. I own a little over 2% of that coin's supply.
I do like the idea of buying into a coin to put value into "storage" to support the coin... but it has many downsides.
People keep tying the value of BTC to other things, this distorts perspectives a LOT.
ETH has always claimed it will be independent of BTC's value; but the nature of exchanges moots that objective/point.....
I agree with you but with ETH going POS it will be a different scenario. Basically most of the low cap POS coins lately where all mostly scams and you could tell because they promised like 100% gains per year. And usually what happens is people buy these coins and don't sell them to stake and the prices usually ends up crashing because the devs and early adapters all sold the coins. With ETH should be a different story, we will see how it will work. I am hoping that the Hybrid POS goes smoothly and it will gives us an idea of how successful it will be. However with ETH, most likely there will be bugs which will lead to hacks which will lead to lost coins, as it was with the DAO hack or all those millions of dollars worth of coins stuck in a smart contract due to bad programming.
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philipma1957 (OP)
Legendary
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Activity: 4214
Merit: 8299
'The right to privacy matters'
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July 17, 2018, 12:04:51 PM |
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right now, I only hold one POS coin... and I am holding the coin not to stake it... I just found that I generated about ~.0001 BTC worth of that coin per day.. so its a bonus. I own a little over 2% of that coin's supply.
I do like the idea of buying into a coin to put value into "storage" to support the coin... but it has many downsides.
People keep tying the value of BTC to other things, this distorts perspectives a LOT.
ETH has always claimed it will be independent of BTC's value; but the nature of exchanges moots that objective/point.....
I agree with you but with ETH going POS it will be a different scenario. Basically most of the low cap POS coins lately where all mostly scams and you could tell because they promised like 100% gains per year. And usually what happens is people buy these coins and don't sell them to stake and the prices usually ends up crashing because the devs and early adapters all sold the coins. With ETH should be a different story, we will see how it will work. I am hoping that the Hybrid POS goes smoothly and it will gives us an idea of how successful it will be. However with ETH, most likely there will be bugs which will lead to hacks which will lead to lost coins, as it was with the DAO hack or all those millions of dollars worth of coins stuck in a smart contract due to bad programming. Eth is a very large coin with a lot of value and it has delayed going to POS for years. It makes money for me via nicehash and the eth enlargement pill my 1080tis all do about 50mh mining it. https://www.nicehash.com/miner/1JdC6Xg3ajT3rge3FgPNSYYFpmf53Vbtje7 to 8 dollars a day using 24 kwatts my home gear at full priced new jersey power summer rates = 4.50 in power so 7.50 - 4.50 = 3 profit that is 4 1080ti's and 1 1050ti along with a ryzen 1800x on monero7 gear is paid off so 3 bucks a day is 1000 a year
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generalt
Legendary
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Activity: 1096
Merit: 1021
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July 17, 2018, 01:34:34 PM |
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Looks like EVGA is having a nice sale on their PSU's if anybody is looking. Not sure if it's US only. https://www.evga.com/products/feature.aspxCouple of prices. 1300 G2 $140 1600 G2 $190
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BTC: 1GENERALrtBAjEv2Ps5cmEW1FADnXh1bCZ
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P00P135
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July 17, 2018, 02:28:11 PM |
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Pretty sweet deal, too bad 1 per household.
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philipma1957 (OP)
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Activity: 4214
Merit: 8299
'The right to privacy matters'
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July 17, 2018, 03:52:21 PM Last edit: July 17, 2018, 04:12:47 PM by philipma1957 |
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philipma1957 (OP)
Legendary
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Activity: 4214
Merit: 8299
'The right to privacy matters'
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July 17, 2018, 04:30:28 PM |
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TheYankeesWin!
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July 18, 2018, 03:24:06 AM |
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BTC topped 7500 today
and diff dropped -3.45%
a good day
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Moondoggie
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July 18, 2018, 06:32:53 AM |
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BTC topped 7500 today
and diff dropped -3.45%
a good day
Nice little pump, hope we can keep it
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adaseb
Legendary
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Activity: 3822
Merit: 1723
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July 18, 2018, 07:20:02 AM |
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BTC topped 7500 today
and diff dropped -3.45%
a good day
Nice little pump, hope we can keep it Yes and its crazy how quickly the settlement has already changed. 2 Days ago people were bearish and thinking we will get $1000 bitcoins and now they are predicting $50000-$100000 at the year end. Basically you gotta becareful because it could be a nasty bull trap like in May where it looked like it was going to break $10K and never look back and instead the complete opposite happened.
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Moondoggie
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July 18, 2018, 07:29:59 AM |
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BTC topped 7500 today
and diff dropped -3.45%
a good day
Nice little pump, hope we can keep it Yes and its crazy how quickly the settlement has already changed. 2 Days ago people were bearish and thinking we will get $1000 bitcoins and now they are predicting $50000-$100000 at the year end. Basically you gotta becareful because it could be a nasty bull trap like in May where it looked like it was going to break $10K and never look back and instead the complete opposite happened. People are mad, sure it'd be nice if they are correct though!
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rs1x
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July 19, 2018, 12:05:11 AM |
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L3+ from bitmain down to $289.
I’ve read a lot of speculation they have a more powerful scrypt miner to hit the shelves next.
I have no real opinion on their business model. It’s not something I’m knowledgeable in
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philipma1957 (OP)
Legendary
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Activity: 4214
Merit: 8299
'The right to privacy matters'
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July 19, 2018, 06:20:33 PM |
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L3+ from bitmain down to $289.
I’ve read a lot of speculation they have a more powerful scrypt miner to hit the shelves next.
I have no real opinion on their business model. It’s not something I’m knowledgeable in
they may I think the l3 is a 28nm too maybe they can boost a 16 or 10nm to do 900mh at 700 or 800 watts vs the 500mh at 700 or 800 watts and a new build aluminum mounting plate --------new from spotswood a rx 560 4g for 99 dollars --------new from new egg the aorus x470 -------------------new the ryzen 2700---------------------new 2x 16 gb sticks of ram-------------had this on hand a corsair ax1500 psu --------------had this on hand a 500gb wd ssd--------------------had this on hand this will be more of a development rig may add the acorn's to it.
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Elder III
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July 19, 2018, 10:59:03 PM |
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L3+ from bitmain down to $289.
I’ve read a lot of speculation they have a more powerful scrypt miner to hit the shelves next.
I have no real opinion on their business model. It’s not something I’m knowledgeable in
they may I think the l3 is a 28nm too maybe they can boost a 16 or 10nm to do 900mh at 700 or 800 watts vs the 500mh at 700 or 800 watts and a new build aluminum mounting plate --------new from spotswood a rx 560 4g for 99 dollars --------new from new egg the aorus x470 -------------------new the ryzen 2700---------------------new 2x 16 gb sticks of ram-------------had this on hand a corsair ax1500 psu --------------had this on hand a 500gb wd ssd--------------------had this on hand this will be more of a development rig may add the acorn's to it. That new rig has some nice potential for a rendering rig with a couple higher end GPUs. Or for Acorns with some GTX 1080 Ti... once the x4 risers are out you could probably run at least 4 Acorns and 4 1080 Ti, maybe more.
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badfad
Jr. Member
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Activity: 186
Merit: 4
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July 20, 2018, 12:18:50 AM |
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Anyone else keeping off buying gpus waiting on nvidia to move its ass?
On another note I remember everyone seemed so bearish around here in 2016, with strings of hope which materilized in '17. I wish I knew how the mood was around here '15.
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philipma1957 (OP)
Legendary
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Activity: 4214
Merit: 8299
'The right to privacy matters'
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July 20, 2018, 01:50:45 AM |
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L3+ from bitmain down to $289.
I’ve read a lot of speculation they have a more powerful scrypt miner to hit the shelves next.
I have no real opinion on their business model. It’s not something I’m knowledgeable in
they may I think the l3 is a 28nm too maybe they can boost a 16 or 10nm to do 900mh at 700 or 800 watts vs the 500mh at 700 or 800 watts and a new build aluminum mounting plate --------new from spotswood a rx 560 4g for 99 dollars --------new from new egg the aorus x470 -------------------new the ryzen 2700---------------------new 2x 16 gb sticks of ram-------------had this on hand a corsair ax1500 psu --------------had this on hand a 500gb wd ssd--------------------had this on hand this will be more of a development rig may add the acorn's to it. That new rig has some nice potential for a rendering rig with a couple higher end GPUs. Or for Acorns with some GTX 1080 Ti... once the x4 risers are out you could probably run at least 4 Acorns and 4 1080 Ti, maybe more. I just got it running..2 1080ti's with the eth pill and here it is https://www.nicehash.com/miner/146UJM5kgzLVUV23CXCf33KQKHckoX1gx3very good looking board lots of lites
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JaredKaragen
Legendary
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Activity: 1848
Merit: 1166
My AR-15 ID's itself as a toaster. Want breakfast?
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July 20, 2018, 04:03:22 AM |
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and a new build aluminum mounting plate --------new from spotswood a rx 560 4g for 99 dollars --------new from new egg the aorus x470 -------------------new the ryzen 2700---------------------new 2x 16 gb sticks of ram-------------had this on hand a corsair ax1500 psu --------------had this on hand a 500gb wd ssd--------------------had this on hand
this will be more of a development rig may add the acorn's to it.
I still have that 560 of yours.... been having issues still with getting respectable hashrates out of the "other" algos.... And I haven't devoted enough time to finishing that project recently since things have been hectic over here..... I'm pretty sure I just need to keep digging up and testing different drivers still. Especially annoying since I am avoiding anything having to do with bios modding... it just adds more question marks as most heavily recommend the bios modding.
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Biodom
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Activity: 3850
Merit: 4187
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July 20, 2018, 05:08:15 PM |
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Not sure if this is the right board to ask, but anybody knows how exactly Bitmain's order works when you pay 50% for pre-order?
1. Are you being locked in into half btc (or other crypto) now, half later or it is being adjusted based on btc price later on (this would be more fair, of course, but probably too much to expect)? 2. Do you pay second installment into the same btc/bch/ltc address or they would give you another address?
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