NobleCoin[NOBL] - 8% PoS | 1Yr+ | MARKETPLACE | PAY | GIFT | CHARITIES/MERCHANTS

[bangomatic]

GPU miners are generally un-professional.

Explain this please. Does it mean you are a "Professional" since you bought into asics?

After reading my post all you take from it is that I claim GPU miners are unprofessional?
I never said I was professional. But, anyone that is willing to put their money into expensive hardware that does nothing but mine scrypt coins will be making that decision with a more professional mindset than the average fickle GPU miner.
Some GPU miners are just as dedicated and 'professional' as the best of us, but most dump a coin as soon as it's not popular and/or profitable before moving onto the next fad.

Miners buy asic hardware that is 'locked' to a select few coins.
Take LTC for example. The price is dropping fast, but the hashrate and difficulty is rocketing up as more asics hit the network. These miners choose LTC and will probably have their hardware working on LTC until it can no longer compete with new miners or cover it's electricity bill.

The point I am trying to make is that GPU mining is great to get a fledgling currency off the ground easily (and test new concepts), but once it is up and running (like Noble is now) it's past the 'startup' stage.
Stage 2 requires a more professional and efficient approach.

Many people have said we need to change algo to avoid asics, but have not offered any insight as to how they would contribute to the future of Noble.

Heres a quote from "highoncoins.com" a guy that has both GPU and ASIC

Coin hopping?  Yes, that is probably the only way to make money these days.  The good part?  Whoever still has massive amounts of graphic card rig hashing power will be the only miners left in the end.  DO NOT BUY ASICs, ROI on those things are horrible!  At least your graphic card rig hold market value because you can resell it for at least 75%  of what you paid for or even just part out and sell the graphic cards, which hold value unlike ASICs.

I’ve spent $25K on Gridseeds and Gridseed Blades, now those ASICS I bought only 2 months ago are worth less than $5K.  I am so mad I did that, don’t be like me, keep your graphic card rig running!!!  ASICs are out there to make money for companies who sell the ASICs, don’t be fooled into the biggest scam of all.  

You probably paid 10K for 100 MH asic that only mines scrypt coins. I'm guessing here. Scrypt coins will be a small segment of the coin market soon.
300 MH units are already shipped at the same price. And now they are offering 400MH units for under 7K.  In a couple months they will be half that price , most likely.

Not all GPU miners are dumpers, just to clear that up. EDIT: It seems to me that the more "business" like ASIC miners you speak of will be the ones dumping. Buying ASIC as a business decision will put more pressure to get ROI.

I enjoy being a hobbyist. I wont lose money on ASIC mining equipment, and I still have the option to mine all coins.

Pretty soon, your 100 MH wont be able to turn a profit, but if you never sell coins then it won't matter.

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[29990621]

GPU miners are generally un-professional.

Explain this please. Does it mean you are a "Professional" since you bought into asics?

After reading my post all you take from it is that I claim GPU miners are unprofessional?
I never said I was professional. But, anyone that is willing to put their money into expensive hardware that does nothing but mine scrypt coins will be making that decision with a more professional mindset than the average fickle GPU miner.
Some GPU miners are just as dedicated and 'professional' as the best of us, but most dump a coin as soon as it's not popular and/or profitable before moving onto the next fad.

Miners buy asic hardware that is 'locked' to a select few coins.
Take LTC for example. The price is dropping fast, but the hashrate and difficulty is rocketing up as more asics hit the network. These miners choose LTC and will probably have their hardware working on LTC until it can no longer compete with new miners or cover it's electricity bill.

The point I am trying to make is that GPU mining is great to get a fledgling currency off the ground easily (and test new concepts), but once it is up and running (like Noble is now) it's past the 'startup' stage.
Stage 2 requires a more professional and efficient approach.

Many people have said we need to change algo to avoid asics, but have not offered any insight as to how they would contribute to the future of Noble.

Heres a quote from "highoncoins.com" a guy that has both GPU and ASIC

Coin hopping?  Yes, that is probably the only way to make money these days.  The good part?  Whoever still has massive amounts of graphic card rig hashing power will be the only miners left in the end.  DO NOT BUY ASICs, ROI on those things are horrible!  At least your graphic card rig hold market value because you can resell it for at least 75%  of what you paid for or even just part out and sell the graphic cards, which hold value unlike ASICs.

I’ve spent $25K on Gridseeds and Gridseed Blades, now those ASICS I bought only 2 months ago are worth less than $5K.  I am so mad I did that, don’t be like me, keep your graphic card rig running!!!  ASICs are out there to make money for companies who sell the ASICs, don’t be fooled into the biggest scam of all.  

You probably paid 10K for 100 MH asic that only mines scrypt coins. I'm guessing here. Scrypt coins will be a small segment of the coin market soon.
300 MH units are already shipped at the same price. And now they are offering 400MH units for under 7K.  In a couple months they will be half that price , most likely.

Not all GPU miners are dumpers, just to clear that up.

I enjoy being a hobbyist. I wont lose money on ASIC mining equipment, and I still have the option to mine all coins.

Pretty soon, your 100 MH wont be able to turn a profit, but if you never sell coins then it won't matter.

Did we got exchange?  I wan to buy some.

[bangomatic]

^^^ Save your money and buy 10K worth of noblecoins. Then in a couple years you might be able to retire.

[cdg1941]

there might be a cron job issue with charityminingpool. they're over 2000% of expected shares and with over 25% of net hash rate they are not listing any found blocks in over an hour

[cdg1941]

^^^ Save your money and buy 10K worth of noblecoins. Then in a couple years you might be able to retire.

if i had the money.....


in a heart beat

[bangomatic]

^^^ Save your money and buy 10K worth of noblecoins. Then in a couple years you might be able to retire.

if i had the money.....


in a heart beat

LOL thats probably the best advice I've ever given!

[cdg1941]

we should try to get lifeforce mining pool listed here

http://chainz.cryptoid.info/nobl/#!extraction


they are sitting at about 20% of net hash rate and still listed as unknown


 the more pools that we have listed on there, the more accurately we can determine how much we are being F'ed with

[kresu]

Did we got exchange?  I wan to buy some.

Yes.
https://www.mintpal.com/market/NOBL/BTC
https://poloniex.com/exchange/btc_nobl

Also, agx.io (smaller volume) and vaultofsatoshi.com (USD, CAD)

[kresu]

If every one of this Noble community vowed to contribute 10 mega hash to secure the network, we would truly OWN Noble, and we would take some serious steps towards becoming one of the most reputable currencies in the crypto world.

Hopefully then growth and adoption would be exponential.

Well, i think it is not so easy anyway. Imagine 100 people from Noble team, each with 10 MH/s. (Show me those 100 individuals in the first place... I dont think we have that many followers yet...). Even then, with 1 GH/s added on our side, an attack wouldn't be much more difficult (last time they demonstrated 3-4 GH/s of rented(?) mining power).
Rofo mentioned that the new announcement will "put a stop to this for good". I wonder what this will be.

[Coinler]

GPU miners are generally un-professional.

Explain this please. Does it mean you are a "Professional" since you bought into asics?

After reading my post all you take from it is that I claim GPU miners are unprofessional?
I never said I was professional. But, anyone that is willing to put their money into expensive hardware that does nothing but mine scrypt coins will be making that decision with a more professional mindset than the average fickle GPU miner.
Some GPU miners are just as dedicated and 'professional' as the best of us, but most dump a coin as soon as it's not popular and/or profitable before moving onto the next fad.

Miners buy asic hardware that is 'locked' to a select few coins.
Take LTC for example. The price is dropping fast, but the hashrate and difficulty is rocketing up as more asics hit the network. These miners choose LTC and will probably have their hardware working on LTC until it can no longer compete with new miners or cover it's electricity bill.

The point I am trying to make is that GPU mining is great to get a fledgling currency off the ground easily (and test new concepts), but once it is up and running (like Noble is now) it's past the 'startup' stage.
Stage 2 requires a more professional and efficient approach.

Many people have said we need to change algo to avoid asics, but have not offered any insight as to how they would contribute to the future of Noble.

because it's being dumped when mined. that's obviously going to be tied to all the new multipools popping up for pos coins. they generate investment by mining other coins and buy pos on the open market.. creating constant buy pressure. most of them mine litecoin.. and they are dumping faster than the investment can grow. only thing can pull them away is a more profitable coin. it is the reason all the alts have slumped. because 1 asic 100mh was cashing in on over $4000 worth of btc per altcoin per day. there is no doubt asics are responsible for this. and unfortunately contribute to uneven distribution due to unfair competition.

i know not all asic miners are bad and actually see their mining as an investment in that coin.. but if asics can be used to attack a coin then i think that is actually a security flaw.

[Backlash]

^^^ Save your money and buy 10K worth of noblecoins. Then in a couple years you might be able to retire.

Yes, you are probably correct.

But, you guys that are responding to my posts saying my investment in asic miners was a waste of money are just proving my point. You are not willing to do anything that will help the future of the coin unless it will get you BTC ASAP.
That isn't how investments work. You get out what you put in, and right now Noble needs well distributed powerful miners backed by dedicated individuals that do not dump to market.
I made a concious decision to step up and do my part to help Noble get through this tough time with the hope that it'll have been worth it in years to come.
Sure I could have bought a $hit load of Nobl for the cost of the miner, but that would benefit no one but myself. That's not going to help the network, and probably cause more people to dump if someone is buying.

Rofo has stuck in there through a lot of crap and if the community isn't willing to put their necks on the line for no short term reward, we'll be going nowhere fast.

[cdg1941]

^^^ Save your money and buy 10K worth of noblecoins. Then in a couple years you might be able to retire.

Yes, you are probably correct.

But, you guys that are responding to my posts saying my investment in asic miners was a waste of money are just proving my point. You are not willing to do anything that will help the future of the coin unless it will get you BTC ASAP.
That isn't how investments work. You get out what you put in, and right now Noble needs well distributed powerful miners backed by dedicated individuals that do not dump to market.
I made a concious decision to step up and do my part to help Noble get through this tough time with the hope that it'll have been worth it in years to come.
Sure I could have bought a $hit load of Nobl for the cost of the miner, but that would benefit no one but myself. That's not going to help the network, and probably cause more people to dump if someone is buying.

Rofo has stuck in there through a lot of crap and if the community isn't willing to put their necks on the line for no short term reward, we'll be going nowhere fast.

i started at the beginning.... haven't looked back

[Coinler]

^^^ Save your money and buy 10K worth of noblecoins. Then in a couple years you might be able to retire.

Yes, you are probably correct.

But, you guys that are responding to my posts saying my investment in asic miners was a waste of money are just proving my point. You are not willing to do anything that will help the future of the coin unless it will get you BTC ASAP.
That isn't how investments work. You get out what you put in, and right now Noble needs well distributed powerful miners backed by dedicated individuals that do not dump to market.
I made a concious decision to step up and do my part to help Noble get through this tough time with the hope that it'll have been worth it in years to come.
Sure I could have bought a $hit load of Nobl for the cost of the miner, but that would benefit no one but myself. That's not going to help the network, and probably cause more people to dump if someone is buying.

Rofo has stuck in there through a lot of crap and if the community isn't willing to put their necks on the line for no short term reward, we'll be going nowhere fast.

i disagree to a certain degree. investment isnt about getting back what you put in. it is about getting back more than you put in. that is called efficiency. the aim here is to build a currency.. not a standard investment. a currency that just as standard financial markets are managed, should not generate more supply than demand or devalue the currency. that is what the banks did. and that is why crypto was spawned.

noblecoin deserves more media attention. and im very sure eventually it will. whether it is because demand is low or supply is high. taking steps that will increase the value of your investment isnt a bad thing. if ur a miner and holder.. you should be happy.

the multipools are an issue.. they are in no way investors. in fact they suck investment out of noblecoin. so im going to support any venture that cuts them out even if it cuts out asics. it can only help since supply will slow down allowing the market to grow and for investors to buy with more confidence.

[Bluestreet]

Unfortunately alt coins are in the gambling phase, that's all these new amazing innovative coins(tongue and cheek) are being created for. The get added to the best exchanges and the PnD game begins for 2 weeks on that coin and then dies out.

Yes there are coins like DRK and blackcoin that have maintained good volumes but for the most part the rest are all setup to gamble and the losers are normally the 90% who aren't the inside traders.

[NorrisK]

^^^ Save your money and buy 10K worth of noblecoins. Then in a couple years you might be able to retire.

Yes, you are probably correct.

But, you guys that are responding to my posts saying my investment in asic miners was a waste of money are just proving my point. You are not willing to do anything that will help the future of the coin unless it will get you BTC ASAP.
That isn't how investments work. You get out what you put in, and right now Noble needs well distributed powerful miners backed by dedicated individuals that do not dump to market.
I made a concious decision to step up and do my part to help Noble get through this tough time with the hope that it'll have been worth it in years to come.
Sure I could have bought a $hit load of Nobl for the cost of the miner, but that would benefit no one but myself. That's not going to help the network, and probably cause more people to dump if someone is buying.

Rofo has stuck in there through a lot of crap and if the community isn't willing to put their necks on the line for no short term reward, we'll be going nowhere fast.

i disagree to a certain degree. investment isnt about getting back what you put in. it is about getting back more than you put in. that is called efficiency. the aim here is to build a currency.. not a standard investment. a currency that just as standard financial markets are managed, should not generate more supply than demand or devalue the currency. that is what the banks did. and that is why crypto was spawned.

noblecoin deserves more media attention. and im very sure eventually it will. whether it is because demand is low or supply is high. taking steps that will increase the value of your investment isnt a bad thing. if ur a miner and holder.. you should be happy.

the multipools are an issue.. they are in no way investors. in fact they suck investment out of noblecoin. so im going to support any venture that cuts them out even if it cuts out asics. it can only help since supply will slow down allowing the market to grow and for investors to buy with more confidence.

it is very difficult to cut out multipools. there are already pools that support multiple algorithms, including scrypt n, x11 and x 13,

[ctenc001]

Someone should come out with an algorithm that pays less per hash exponentially as your hash rate increases. So 100 GH/s hash is only slightly better than 1 GH/s. Make the rate of change slow enough so that your average user or pool is uneffected, but once you break something like the 1 GH/s threshold your rate of return per hash decreases a little with each bit of hashpower added on top of that. This would deter any one pool from getting too bigm and would stop these massive multipools from mining your coin while still allowing for normal users to mine nearly uneffected.
No idea how to do it though, or if its even possible. 

[fairglu]

Someone should come out with an algorithm that pays less per hash exponentially as your hash rate increases. So 100 GH/s hash is only slightly better than 1 GH/s. Make the rate of change slow enough so that your average user or pool is uneffected, but once you break something like the 1 GH/s threshold your rate of return per hash decreases a little with each bit of hashpower added on top of that. This would deter any one pool from getting too bigm and would stop these massive multipools from mining your coin while still allowing for normal users to mine nearly uneffected.
No idea how to do it though, or if its even possible. 

Isn't this is essentially how the DarkCoin rewards works?
When hash-rate goes up, the difficulty goes up, but the reward goes down.

However this can still be gamed (by mining only one block every N blocks)

[kresu]

Someone should come out with an algorithm that pays less per hash exponentially as your hash rate increases. So 100 GH/s hash is only slightly better than 1 GH/s. Make the rate of change slow enough so that your average user or pool is uneffected, but once you break something like the 1 GH/s threshold your rate of return per hash decreases a little with each bit of hashpower added on top of that. This would deter any one pool from getting too bigm and would stop these massive multipools from mining your coin while still allowing for normal users to mine nearly uneffected.
No idea how to do it though, or if its even possible. 

I don't know if it is even possible, because in all the solutions that try to connect 1 miner = 1 person, the bypass is to create multiple accounts.

So, anyone would probably spread their mining power to many smaller "workers", if possible.

[Tweek]

Someone should come out with an algorithm that pays less per hash exponentially as your hash rate increases. So 100 GH/s hash is only slightly better than 1 GH/s. Make the rate of change slow enough so that your average user or pool is uneffected, but once you break something like the 1 GH/s threshold your rate of return per hash decreases a little with each bit of hashpower added on top of that. This would deter any one pool from getting too bigm and would stop these massive multipools from mining your coin while still allowing for normal users to mine nearly uneffected.
No idea how to do it though, or if its even possible. 

Isn't this is essentially how the DarkCoin rewards works?
When hash-rate goes up, the difficulty goes up, but the reward goes down.

However this can still be gamed (by mining only one block every N blocks)

What Ctenc means is that you take an individual miners hashrate to determine the block reward, counting a whole pool as 1 miner. Darkcoin does that with the whole network's hashrate (or rather the difficulty).

[bangomatic]

^^^ Save your money and buy 10K worth of noblecoins. Then in a couple years you might be able to retire.

Yes, you are probably correct.

But, you guys that are responding to my posts saying my investment in asic miners was a waste of money are just proving my point. You are not willing to do anything that will help the future of the coin unless it will get you BTC ASAP.
That isn't how investments work. You get out what you put in, and right now Noble needs well distributed powerful miners backed by dedicated individuals that do not dump to market.
I made a concious decision to step up and do my part to help Noble get through this tough time with the hope that it'll have been worth it in years to come.
Sure I could have bought a $hit load of Nobl for the cost of the miner, but that would benefit no one but myself. That's not going to help the network, and probably cause more people to dump if someone is buying.

Rofo has stuck in there through a lot of crap and if the community isn't willing to put their necks on the line for no short term reward, we'll be going nowhere fast.

You are wrong again. Investments should bring a return, else it's a fail. If the attackers can rent asics 40X more powerful than your unit, then you fail.
Don't group everyone that disagrees with you as "not willing to do anything that will help the future of the coin unless it will get you BTC ASAP". That's just absurd.

Buying 10K worth of Noblecoin would have been a much better investment, and buying coin is always good for the coin, don't argue that point , please, because your argument that buying coin only enables dumpers is just ....ummm.... I dont have the words...

I'm still hoping that the coin will be forked to something where mining is a thing of the past. That would solve the asics issue, now and in the future. Something similar to BC. Then you guys can stabilize/de-stabilize other coins with your asics.