Vertcoin - First Scrypt N | First Stealth Address - Privacy without mixer

[rfcdejong]

Eh i think there is a bug in the new cgminer code, because this is impossible

HW errors, 0 accepted. + may be error in config.

That is not what i mean hehe, i'm just unlucky into finding a block with my 3 x 290 at a difficulty of 2... but look at GPU0 -> 21 GH/s (i fixed it by restarting cgminer)
And true.. hardware errors with these settings, but that is only with vertcoin and my lower thread-concurrency.

[BorisTheSpider]

Eh i think there is a bug in the new cgminer code, because this is impossible

Are you sure you ran with --scrypt? I saw this in initial testing (or similar - massive hashrates reported) and realised I was trying to SHA256 hash!

[rfcdejong]

yes

--scrypt -o http://127.0.0.1:5589 -u rfcdejong.1 -p x -I 20 --thread-concurrency 13750 --gpu-threads 1 --lookup-gap 2 -w 256 --scan-time 1 --queue 0

.conf
rpcuser=rfcdejong.1
rpcpassword=x
rpcallowip=127.0.0.1
rpcport=5589
gen=0
deamon=1
server=1
addnode=192.241.125.220
addnode=31.220.27.16
addnode=162.217.249.196
addnode=54.209.167.16
addnode=54.194.156.200
addnode=54.201.240.25
addnode=162.217.249.196:5889
addnode=113.135.67.2:5889
addnode=180.97.81.42:5889
addnode=50.190.0.70:5889
addnode=1.80.67.179:5889
addnode=114.233.129.126:5889
addnode=113.53.228.35:5889
addnode=54.194.93.0:5889

[BorisTheSpider]

yes

--scrypt -o http://127.0.0.1:5589 -u rfcdejong.1 -p x -I 20 --thread-concurrency 13750 --gpu-threads 1 --lookup-gap 2 -w 256 --scan-time 1 --queue 0

Ok, please report in the thread if it happens again.

[Evilish]

Anyone kind enough to share some VTC? I'm new to this coin so I haven't ever mined it. 
VfvTNgJ8dCwBTj2fcwBYX65AuhiJivB4uC

[BorisTheSpider]

Anyone kind enough to share some VTC? I'm new to this coin so I haven't ever mined it. 
VfvTNgJ8dCwBTj2fcwBYX65AuhiJivB4uC

I'll keep https://bitcointalk.org/index.php?topic=417842.0 open for an extra few people if you're quick.

[BorisTheSpider]

Price rising at CoinedUp. Seems the weak hands are being shaken out following some initial dumping.

[veebee]

hey guys just wanted to give an update


we have just updated our website!


check it out www.vertcoin.org

also dont forget to visit us on IRC FREENODE #vertcoin


cya there !

[bitwho]

set GPU_MAX_ALLOC_PERCENT=100
setx GPU_MAX_ALLOC_PERCENT 1
cgminer.exe --scrypt -o stratum+tcp://eu2.bitcrush.info:3444 -u uu.uu -p x --failover-only -o stratum+tcp://s.ny.vertco.in:3333 -u uu.uu -p x -I 13 -g 2 --thread-concurrency 8192 --gpu-engine 1080 --gpu-memclock 1500 --auto-fan --temp-cutoff 85 --temp-overheat 83 --temp-target 78 --gpu-vddc 1.087

is there a reason why i cant connect with any of these pools?

[BorisTheSpider]

set GPU_MAX_ALLOC_PERCENT=100
setx GPU_MAX_ALLOC_PERCENT 1
cgminer.exe --scrypt -o stratum+tcp://eu2.bitcrush.info:3444 -u uu.uu -p x --failover-only -o stratum+tcp://s.ny.vertco.in:3333 -u uu.uu -p x -I 13 -g 2 --thread-concurrency 8192 --gpu-engine 1080 --gpu-memclock 1500 --auto-fan --temp-cutoff 85 --temp-overheat 83 --temp-target 78 --gpu-vddc 1.087

is there a reason why i cant connect with any of these pools?

You have -u and -p specified twice. Perhaps that is breaking something? Other than that, your overclock looks extreme, and you might be trying to undervolt as well such that cgminer can't mine?

Try:

set GPU_MAX_ALLOC_PERCENT=100
setx GPU_MAX_ALLOC_PERCENT 100
cgminer.exe --scrypt -o stratum+tcp://eu2.bitcrush.info:3444 -u username -p password -I 13 -g 2 --thread-concurrency 8192 --auto-fan --temp-cutoff 85 --temp-overheat 83 --temp-target 78

[BorisTheSpider]

Rumors are spreading that the first Gridseed scrypt ASICs have shipped - anyone know more? https://bitcointalk.org/index.php?topic=417635.0

[spiffcow]

Rumors are spreading that the first Gridseed scrypt ASICs have shipped - anyone know more? https://bitcointalk.org/index.php?topic=417635.0

My guess is that it's a hoax..  Could be true though.  If so the timing of this coin is impeccable.

[Tom17]

I just read a bunch of threads about them. Not a hoax, but seriously overpriced still... This post pretty much sums it up...

AND They are not keen selling them. With prices ppl suggest here. If you have Machine laying golden eggs while none else have why would you sell it. Also this is totally GEN 1 hardware and totally in line what first SHA Bitcoin ASIC:s were performing. The Chip is not super performer but what it does it does it 1/40th of the Electricity of GPU rig

PPL are blinded by current GH and TH of BTC ASIC. If and when they get mass sampling of this chip what would stop them putting 160 chips in a Blade taking 70-100W and producing massive 9.6MH/s thats 12 GPU rig right there in 1 single ~70W blade.

Price? dont dream about it. They will mine and overprice the chip to cover R&D costs and get healty profit before dumping them into the market. If you are first you are First.


-Edit-

http://www.middlecoin.com/reports/1M3jtksp1upR33SX1VzeCfH5x9fc6zKykR.html

Been following above middlecoin address and they have add around 100MH/s daily there. Thursday - Friday - Monday - Tuesday - Today i just saw 957MH/s accepted. It is past 1GH/s accepted hashrate tomorrow evening. That would be closer 2000 AMD GPU units in mining rigs and rough numbers would be what 500-700 kw/h power and heat at minimum. I'm no professional but i would say it's not easy to obtain that much power. Compared these chips would do it with 7-15kw/h which is nothing.

specs are here

https://github.com/gridseed/gc3355-doc/blob/master/GC3355_DataSheet.pdf

And holy shit, it claims to do 59.6 KH/s while using 0.44 W

This is 0.00738 W/KH/s versus 0.300 W/KH/s for a GPU -- a 40.7 fold increase in efficiency.  This is about the same increase in efficiency as compared to BTC when ASICMINER first introduced its chips; I'm curious to see how they did it.

I've seen that on Middlecoin, but I'm failing to see how this is transformational.  It would seem to me that the key in the near term (at least months) is equipment price/kh, not kh/kw.  Granted, I have cheap power in the US, but at the rates alt coins are paying, the cost of power is almost exactly an entire order of magnitude less than the revenue that can be obtained by that power.  Case in point: 0.01 BTC/day/(MH/s) is pretty easy to reliably obtain.  For 1Mh/s, you're looking at about 300-350 W.  0.01 BTC = about $8.5 currently (and stands to rise).  350W = $1.68 even at a very liberal $0.20/KWhr. 

My point with all of this is that hashing power is clearly the dominant metric for profit at this point.  With that said, the prices listed in this thread for ASIC hardware are about two-fold WORSE than typical cost/hash represented through GPU mining.

What this is all leading me to is this - if power could (even liberally) be assumed to be soaking a quarter of your revenue from GPU mining, and these products are twice the cost of GPU mining, there is literally NO break-even.  Even if they use no power at all, the best you could do with them is still to bring two thirds of the profit/investment of GPU mining.

It seems that these become a true alternative when they get to between the 1.0x and maybe 1.25x the price/hash power, and truly preferable when cheaper still.  Similarly, it would take until profits/hash power are halved from their current levels to have the same effect.  With all of the pump and dump coins and stupid speculators betting on them in the short term coming and going, I don't see that happening any time soon.

Am I wrong?

[Bufius]

Hi

as i am very busy with preparing a new miner, please join irc channel #vertcoin if you have specific questions.
i am available for 1 to 2 hours a day there between 10 and 11pm (german time)

[spiffcow]

Price rising at CoinedUp. Seems the weak hands are being shaken out following some initial dumping.

Yep.  I went in with 600 VTC 2 days ago, sold most of it, then bought nearly 2000 VTC with the proceeds after all the dumpers came in

[BorisTheSpider]

I just read a bunch of threads about them. Not a hoax, but seriously overpriced still... This post pretty much sums it up...

Basically it seems to me the GC3355 will pretty much mean paying your years electricity bills up front, so it'll be borderline competitive with buying GPUs, but with a lower resale value, so it's not there yet, but it's not so far off. I doubt it'll be as much as 3 months until something else more effective comes along.

[r0ach]

Lots of people are complaining about disconnects and stuff from pools.  Pool.pm is probably the most stable of Vert pools and had the biggest hash at launch (probably 80% or so).  It got DOS'd for a day or two and everyone went to other pools.  Probably need some people to migrate back there now since it was the best running pool of the bunch.

[x0rcist]

I'm mining this at vert.bitcrush.info for a few days and this is the most stable pool i found this far. Tried most of them and had the same issues with like most of you guys are reporting. Try them!

[BorisTheSpider]

I'm mining this at vert.bitcrush.info for a few days and this is the most stable pool i found this far. Tried most of them and had the same issues with like most of you guys are reporting. Try them!

Yes, I second this - bitcrush have been very stable. The only reason I was trying to shift people off there earlier was to balance the network. As always, please check www.vertcoin.com and go on a smaller pool to distribute the hashrate.

[BorisTheSpider]

Nice updates to the OP.