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

[adaseb]

btc price for rent on  nicehash = nuts!!

Looks like it went up temporarily for about 2 hours and then back down...

https://www.nicehash.com/algorithm/sha256

Most likely some new shitcoin released on SHA256 algo and they were instamining it. That or they put in the wrong price by accident.

[Moondoggie]

Could see some good things today / tomorrow with the Bittrex RVN listing

[philipma1957]

Could see some good things today / tomorrow with the Bittrex RVN listing

I have 5200 of them

be nice if they jump up.

[gotminer]

Jumped on Cryptopia for a few hours after the tweet went out.  As high as 500 sats from what I saw.  Cryptobridge was behind on price.  Looks like volume is good on Bittrex compared to the other two, as of now.  Not much of a price increase though.  Maybe 10%.  Pumped on the news (over 40%), but when trading actually began on Bittrex, it came back down.

[nsummy]

Proof that for most cryptos in this environment its pointless to hold.  I knew rvn would sink like a rock.  not saying that it doesnt have long term aspirations but it got big because of the miners...

[philipma1957]

so short term 

sad so sad.

[adaseb]

I am looking all over Craiglist and there are tons of GPUs, mining rigs, ASICs all for sale.

Its really funny how people are showing a stack of 6 GPUs on top of each other and said they were used for AutoCAD not mining.

I think if you know what mining is, most likely you were mining with it. So might as well be honest.


I guess one way how you can tell if a GPU was used for mining or not is to ask the seller (in person).

"So what games did you play with this GPU".

If he stutters and says something like "Quake 2" then you know it was most likely used for mining.

[martyroz]

I have been selling 1070ti / 1080 and openly stating they are used for mining.

Pricing in Australia - units start to move at $520 AUD ($376 USD) for 1080 and $460 AUD ($333 USD) for 1070ti.

[philipma1957]

I am watching many people struggle with the bears.

[fk2]

we have shut down temporarly yesterday

[philipma1957]

we have shut down temporarly yesterday

I don't blame you 1 bit.
So far  today we are up
https://coinmarketcap.com/


1   Bitcoin>>>>>>>>$110,148,439,981   $6,399.87   $4,459,424,786   17,211,050 ......   4.61%      
2   Ethereum>>>>>>$29,068,117,346   $286.84   $1,852,358,404   101,340,482.....    8.61%       
3   XRP>>>>>>>>>$11,329,902,858   $0.28776   $290,742,950   39,372,399,467..    8.91%       
4   Bitcoin Cash>>>>$8,940,821,978   $516.99   $378,162,930   17,294,088........   4.51%       
5   EOS>>>>>>>>>$4,215,161,027   $4.65   $627,064,690   906,245,118......   6.25%       
6   Stellar>>>>>>>>$4,176,684,190   $0.22249   $84,906,655   18,771,748,050..   3.58%       
7   Litecoin>>>>>>>$3,222,231,406   $55.69   $267,331,823   57,855,884........   5.94%       
8   Cardano>>>>>>$2,497,278,545   $0.09631   $81,789,631   25,927,070,538..   3.44%       
9   Tether >>>>>>>$2,410,433,823   $1.00   $2,992,751,492   2,407,140,346....   -0.18%      
10   Monero >>>>>>>$1,448,514,249   $88.76   $24,517,837   16,319,260........   6.95%       
11   IOTA>>>>>>>>>>$1,315,169,558   $0.47313   $39,612,714   2,779,530,283...   11.22%       
12   TRON>>>>>>>>>$1,302,443,321   $0.01981   $109,571,723   65,748,111,645..   10.39%       
13   Dash>>>>>>>>>$1,256,605,694   $152.15   $134,201,953   8,258,794..........   9.70%       
14   Ethereum Classic>>$1,234,334,290   $11.89   $248,526,620   103,801,550......   8.81%   
15   NEO>>>>>>>>>>$1,061,113,160   $16.32   $66,615,649   65,000,000.......   9.72%       
16   NEM>>>>>>>>>>$987,757,172   $0.10975   $13,519,548   8,999,999,999...   6.37%       
17   Binance Coin>>>>>$955,742,491   $10.01   $38,146,192   95,512,523.......   11.00%       
18   Tezos>>>>>>>>>$811,371,268   $1.34   $2,660,191   607,489,041......   11.66%      
19   Zcash>>>>>>>>>$637,518,499   $139.18   $104,244,342   4,580,656.........   5.96%   
20   OmiseGO>>>>>>>$519,523,635   $3.70   $44,482,128   140,245,398......   10.19%   
21   VeChain>>>>>>>>$448,246,372   $0.00808   $21,691,177   55,454,734,800..   15.31%   
22   Qtum>>>>>>>>>>$395,501,368   $4.45   $188,748,301   88,817,272........   17.01%       
23   0x>>>>>>>>>>>>$380,839,888   $0.70858   $15,684,986   537,463,229......   3.14%       
24   Bitcoin Gold>>>>>>$333,134,234   $19.39   $11,050,482   17,179,636 BTG   15.80%      
25   Lisk>>>>>>>>>>>$319,167,968   $2.93   $5,942,895   109,078,742 LSK *   6.32%       

[dragonmike]

Hopefully not just another dead cat bounce.

The RVN smackdown after the Bittrex listing good reaction was disheartening.

I'm very close to profitability limits with my rigs now. All rigs combined, I'm only making a few bucks a day after electricity costs.

Ironically, as much as the original ideology of crypto was to have an answer to centralisation and manipulation of money supply by wall street banks, we are now left hoping that the SEC will recognise/authorise the asset class for big money to be able to buy into ETFs and save the day. Heh.

[Overdrive5]

Ironically, as much as the original ideology of crypto was to have an answer to centralisation and manipulation of money supply by wall street banks, we are now left hoping that the SEC will recognise/authorise the asset class for big money to be able to buy into ETFs and save the day. Heh.

Be very careful what we wish for!

I am gravely concerned with Wall Street and Banks entering into crypto.

I think we are underestimating their potential for harm to crypto. 

IMHO, We are experiencing a component of the effects from Bitcoin Futures starting trading on December 10 & 17, 2017

We can not stop them but we certainly can take steps to neutralize there affects before they get to strong a beachhead in this.

One of this is to DISALLOW ALL Futures/Option/Shorting/Leverage.

You either have full equity in the crypto or you can not trade it. PERIOD!

We as a community have to put a STOP TO THIS!

Buffet called derivatives as "weapons of mass destruction".

Well, I call ANY form of Leverage in crypto as Weapons of Mass Destruction.

Especially when Large Financial Corporations can use their Financial Strength to apply that leverage.

Remember, They are not here for "us".

If we allow this to continue, then our future will certainly be more bleak.

I think Thomas Jefferson had it right when he said:

"I believe that banking institutions are more dangerous to our liberties than standing armies."

[philipma1957]

Ironically, as much as the original ideology of crypto was to have an answer to centralisation and manipulation of money supply by wall street banks, we are now left hoping that the SEC will recognise/authorise the asset class for big money to be able to buy into ETFs and save the day. Heh.

Be very careful what we wish for!

I am gravely concerned with Wall Street and Banks entering into crypto.

I think we are underestimating their potential for harm to crypto.  

IMHO, We are experiencing a component of the effects from Bitcoin Futures starting trading on December 10 & 17, 2017

We can not stop them but we certainly can take steps to neutralize there affects before they get to strong a beachhead in this.

One of this is to DISALLOW ALL Futures/Option/Shorting/Leverage.

You either have full equity in the crypto or you can not trade it. PERIOD!

We as a community have to put a STOP TO THIS!

Buffet called derivatives as "weapons of mass destruction".

Well, I call ANY form of Leverage in crypto as Weapons of Mass Destruction.

Especially when Large Financial Corporations can use their Financial Strength to apply that leverage.

Remember, They are not here for "us".

If we allow this to continue, then our future will certainly be more bleak.

I think Thomas Jefferson had it right when he said:

"I believe that banking institutions are more dangerous to our liberties than standing armies."

It is too late big money is in the game.   I know of 2.4 eh coming online which is  a killer since the companies  will have 4 cent power or less deals.  this is btc gear

[JaredKaragen]

I am looking all over Craiglist and there are tons of GPUs, mining rigs, ASICs all for sale.

Its really funny how people are showing a stack of 6 GPUs on top of each other and said they were used for AutoCAD not mining.

I think if you know what mining is, most likely you were mining with it. So might as well be honest.


I guess one way how you can tell if a GPU was used for mining or not is to ask the seller (in person).

"So what games did you play with this GPU".

If he stutters and says something like "Quake 2" then you know it was most likely used for mining.

yup.


The main telltale sign of working a GPU hard is the seeping fluids from the thermal contact pads;  it is a DOG to clean up; and pretty much stains everything when it happens.


It's not a bad thing;  but a tell-tale sign....   easily seen on any GPU's bottom edge....

you don't see the massive amounts on CAD/gaming machines.... unless they were crammed in with no cooling in mind.

[Overdrive5]

Ironically, as much as the original ideology of crypto was to have an answer to centralisation and manipulation of money supply by wall street banks, we are now left hoping that the SEC will recognise/authorise the asset class for big money to be able to buy into ETFs and save the day. Heh.

Be very careful what we wish for!

I am gravely concerned with Wall Street and Banks entering into crypto.

I think we are underestimating their potential for harm to crypto.  

IMHO, We are experiencing a component of the effects from Bitcoin Futures starting trading on December 10 & 17, 2017

We can not stop them but we certainly can take steps to neutralize there affects before they get to strong a beachhead in this.

One of this is to DISALLOW ALL Futures/Option/Shorting/Leverage.

You either have full equity in the crypto or you can not trade it. PERIOD!

We as a community have to put a STOP TO THIS!

Buffet called derivatives as "weapons of mass destruction".

Well, I call ANY form of Leverage in crypto as Weapons of Mass Destruction.

Especially when Large Financial Corporations can use their Financial Strength to apply that leverage.

Remember, They are not here for "us".

If we allow this to continue, then our future will certainly be more bleak.

I think Thomas Jefferson had it right when he said:

"I believe that banking institutions are more dangerous to our liberties than standing armies."

It is too late big money is in the game.   I know of 2.4 eh coming online which is  a killer since the companies  will have 4 cent power or less deals.  this is btc gear

2.4 eh is certainly a concern but at least they will have 100% equity in their production. Plus they will have a sizable "investment" in the equipment which will need to earn a return of profit/principle. Meaning they will have risk.

I am more concerned with a large financial institution throwing a few billion at a short futures "position" with like 3x to 10x leverage.

THAT is what I call a Weapon of Mass Destruction.

And THAT is what we as a community have to put a STOP TO!

If we force 100% equity in all trades/exchanges and no futures/options. And Yes even ETF's as they usually are able use cash in "lieu of" stock/crypto in the daily ETF generation process.

IF we want TRUE decentralization, we need to take steps to neutralize centralization of power.

Once they have it, they will NEVER give it back up and it'll be "Lights Out" for crypto as we now know it.

Crypto is a "Good Thing" that we all have nurtured.

Let's not allow centralization of any kind to get a beachhead on it.

[nsummy]

Ironically, as much as the original ideology of crypto was to have an answer to centralisation and manipulation of money supply by wall street banks, we are now left hoping that the SEC will recognise/authorise the asset class for big money to be able to buy into ETFs and save the day. Heh.

Be very careful what we wish for!

I am gravely concerned with Wall Street and Banks entering into crypto.

I think we are underestimating their potential for harm to crypto. 

IMHO, We are experiencing a component of the effects from Bitcoin Futures starting trading on December 10 & 17, 2017

We can not stop them but we certainly can take steps to neutralize there affects before they get to strong a beachhead in this.

One of this is to DISALLOW ALL Futures/Option/Shorting/Leverage.

You either have full equity in the crypto or you can not trade it. PERIOD!

We as a community have to put a STOP TO THIS!

Buffet called derivatives as "weapons of mass destruction".

Well, I call ANY form of Leverage in crypto as Weapons of Mass Destruction.

Especially when Large Financial Corporations can use their Financial Strength to apply that leverage.

Remember, They are not here for "us".

If we allow this to continue, then our future will certainly be more bleak.

I think Thomas Jefferson had it right when he said:

"I believe that banking institutions are more dangerous to our liberties than standing armies."

At the end of the day, for bitcoin (or any coin that relies on it as a trading pair) to have value, its needs to be able to be exchanged for fiat.  For that to happen, there has to be regulation.  To say you have to have "full equity" is a little ridiculous.  If you have your BTC sitting on an exchange, that is not full ownership.  They are holding it and you are essentially trading an ETF.  Buffet was not referring to simple derivatives options and futures.  Also, Thomas Jefferson never said that

[philipma1957]

Fact checking  this appears to be the actual quote

https://www.monticello.org/site/jefferson/private-banks-spurious-quotation



The second part of the quotation ("I believe that banking institutions are more dangerous to our liberties than standing armies") is a slight misquotation of a statement Jefferson made in a letter to John Taylor in 1816. He wrote, "And I sincerely believe with you, that banking establishments are more dangerous than standing armies; & that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale"3

I will leave it alone as  I have no idea who is really correct.

But my thoughts are that  4 cent power using top of the line gear  (7nm asics)

Will simply  drive the margins to be tight  and that  most common miners  will be squeezed out.

It is the major downside of asics  that they convert mining to the same as grinding.

I also believe  that  leveraged sales can spike prices.  Up or down more wildly  then just mining on vast scales.

[dragonmike]

To come back to more practical things... I figured I'd ask in here:
How do you determine how to best set difficulty correctly for a rig manually? Vardiff nowadays is supposed to do it, but it often takes long to adjust and is often suboptimal. Is there a "golden rule" or "middle" for the amount of shares a rig should ideally submit per minute?

[MagicSmoker]

To come back to more practical things... I figured I'd ask in here:
How do you determine how to best set difficulty correctly for a rig manually? Vardiff nowadays is supposed to do it, but it often takes long to adjust and is often suboptimal. Is there a "golden rule" or "middle" for the amount of shares a rig should ideally submit per minute?

I like to set fixed diff so that I find a share no more often than every 10 - 20 seconds. Going too low on fixed diff can not only get your IP banned by the pool operator, it also reduces your earnings because the ping (ie - packet transit) time starts taking up a significant portion of the time it takes the miner to find a share. E.g. - if ping time is 200ms and you are finding shares every 2s then ping adds 10% to your solution time.

There's less of an issue with going too high on difficulty, though I have noticed that my earnings do start to decline against the calculated/estimated value once it takes longer than about 5 minutes to find each share. Also, the variation in the time to find each share is less consistent as difficulty climbs.