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illodin
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February 09, 2014, 05:21:56 PM |
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Managed to buy 2500 DRK. Let's hope this is the one.
It surely is. I upped my sell order from 0.003 to 0.005  |
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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LeBarton
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February 09, 2014, 05:25:09 PM |
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This is ridiculous. I'm mining 4 coins a day. All coins are going to one big whale. I'm out. KGW is really needed. We are just good to clear the high difficulty blocks the trash for the whale. I'm no bantha meat.
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Brilliantrocket
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February 09, 2014, 05:27:41 PM |
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This is ridiculous. I'm mining 4 coins a day. All coins are going to one big whale. I'm out. KGW is really needed. We are just good to clear the high difficulty blocks the trash for the whale. I'm no bantha meat.
Went from 30 coins a day a few days ago to 5 now. |
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kresu
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February 09, 2014, 05:35:50 PM |
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Is it a good time to buy in?
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Honest Tim
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February 09, 2014, 05:54:39 PM |
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OK, so CPU only mining thats profitable right NOW??
need BTC for DRK
any ideas anyone?
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LeBarton
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February 09, 2014, 05:55:49 PM |
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This is ridiculous. I'm mining 4 coins a day. All coins are going to one big whale. I'm out. KGW is really needed. We are just good to clear the high difficulty blocks the trash for the whale. I'm no bantha meat.
Went from 30 coins a day a few days ago to 5 now. Exactly the same as me. I was mining 30 coins/day before that huge whale came in. I would be extremely cautious if you plan to buy this coin. Expect a huge dump from this whale anytime. |
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illodin
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February 09, 2014, 06:00:18 PM |
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Expect a huge dump from this whale anytime.
Huge? Someone did the math here earlier and he can't mine any huge amounts as the diff has risen. |
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drawing1211
Newbie
 Offline
Activity: 42
Merit: 0
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February 09, 2014, 06:00:55 PM |
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OK, so CPU only mining thats profitable right NOW??
need BTC for DRK
any ideas anyone?
I'm just going to keep mining through it, don't see any better coins to mine ATM. We're already seeing buys at .0003, yesterday I was buying coins at .00014. 2x in one day isn't too shabby. Also, one more vote for doing the beta/alpha testing closed but opening the source on release. |
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Honest Tim
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February 09, 2014, 06:01:27 PM |
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This is ridiculous. I'm mining 4 coins a day. All coins are going to one big whale. I'm out. KGW is really needed. We are just good to clear the high difficulty blocks the trash for the whale. I'm no bantha meat.
Went from 30 coins a day a few days ago to 5 now. Exactly the same as me. I was mining 30 coins/day before that huge whale came in. I would be extremely cautious if you plan to buy this coin. Expect a huge dump from this whale anytime. I hope he does, he can take a nice fat brown shower on me. We should start a poll on what the whale does next. |
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heskey
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February 09, 2014, 06:07:37 PM |
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https://poloniex.com/ Still needs to be added on first page!
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██████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████ |
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blaaaaacksuit
Sr. Member
Offline
Activity: 280
Merit: 250
Who cares?
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February 09, 2014, 06:08:27 PM |
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When did the whale cut his hashrate in half? Is he trying to push the diff back down so he can come back in and rape at full power?
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eduffield (OP)
Legendary
Offline
Activity: 1176
Merit: 1036
Dash Developer
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February 09, 2014, 06:14:19 PM |
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Dash - Digital Cash | dash.org | dashfoundation.io | dashgo.io
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Brilliantrocket
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February 09, 2014, 06:16:06 PM |
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Should I sell my 2500 DRK and take a 25-30% profit in expectation to buy back when the whale dumps? Hard to predict whether he is going to dump or hold. If he holds, price will rise.
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jl777
Legendary
Offline
Activity: 1176
Merit: 1132
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February 09, 2014, 06:18:20 PM |
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Whale reduced his MH in half, which he wouldnt do if he had GPU. Current difficulty is 6 times worse. I think he has access to server farm with >5000 servers. Maybe just using idle time to mine. Mining cost is around 25 to 50 cents each, an I think he mined around 50,000 coins. Significant, but there was 10 BTC buy order last night, so 50K DRK isn't so much more than demand at current prices.
My guess is that the whale believes in this coin and didn't want to boost the price with open market order. Maybe determined that it was cheaper to buy server time than to buy in open market.
I am a dolphin, "only" 350 servers, and I came to same conclusion. I had to reduce output to idle time at current difficulty.
James
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heskey
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February 09, 2014, 06:18:59 PM |
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Should I sell my 2500 DRK and take a 25-30% profit in expectation to buy back when the whale dumps? Hard to predict whether he is going to dump or hold. If he holds, price will rise.
Do you want us to make that decision for you so you dont have to blame yourself when you lose money?  Impossible to know, but Im thinking long-term so I will hold. Plus that every sell/buy I make turns out to be wrong. Lol, since I'm gonna hold this time you might be better of selling ^^ |
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blaaaaacksuit
Sr. Member
Offline
Activity: 280
Merit: 250
Who cares?
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February 09, 2014, 06:19:02 PM |
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Should I sell my 2500 DRK and take a 25-30% profit in expectation to buy back when the whale dumps? Hard to predict whether he is going to dump or hold. If he holds, price will rise.
If its a gpu farm like eduffield thinks, he very well may hold. |
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blaaaaacksuit
Sr. Member
Offline
Activity: 280
Merit: 250
Who cares?
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February 09, 2014, 06:44:06 PM |
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Whale reduced his MH in half, which he wouldnt do if he had GPU. Current difficulty is 6 times worse. I think he has access to server farm with >5000 servers. Maybe just using idle time to mine. Mining cost is around 25 to 50 cents each, an I think he mined around 50,000 coins. Significant, but there was 10 BTC buy order last night, so 50K DRK isn't so much more than demand at current prices.
My guess is that the whale believes in this coin and didn't want to boost the price with open market order. Maybe determined that it was cheaper to buy server time than to buy in open market.
I am a dolphin, "only" 350 servers, and I came to same conclusion. I had to reduce output to idle time at current difficulty.
James
What CPU type are you using dolphin? What kind of hash rate do you get from something like that? Always been curious. Do you rent them out or just have access to them through a university? |
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ig0tik3d
Legendary
Offline
Activity: 1246
Merit: 1000
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February 09, 2014, 06:58:04 PM |
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Should I sell my 2500 DRK and take a 25-30% profit in expectation to buy back when the whale dumps? Hard to predict whether he is going to dump or hold. If he holds, price will rise.
If its a gpu farm like eduffield thinks, he very well may hold. i think if will be gpu miner it get not more 2-3 hashrate then cpu.. |
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jl777
Legendary
Offline
Activity: 1176
Merit: 1132
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February 09, 2014, 07:10:19 PM |
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Whale reduced his MH in half, which he wouldnt do if he had GPU. Current difficulty is 6 times worse. I think he has access to server farm with >5000 servers. Maybe just using idle time to mine. Mining cost is around 25 to 50 cents each, an I think he mined around 50,000 coins. Significant, but there was 10 BTC buy order last night, so 50K DRK isn't so much more than demand at current prices.
My guess is that the whale believes in this coin and didn't want to boost the price with open market order. Maybe determined that it was cheaper to buy server time than to buy in open market.
I am a dolphin, "only" 350 servers, and I came to same conclusion. I had to reduce output to idle time at current difficulty.
James
What CPU type are you using dolphin? What kind of hash rate do you get from something like that? Always been curious. Do you rent them out or just have access to them through a university? dual Intel Xeon's, various models. About 70% doing minerd. Approx 4000 cores mining on servers got to 100 MH. So around 25kH/core. Is that the same as desktops? I'm managing farm for a guy that somehow has all these servers, so cost is probably close to electricity costs of $30/mo per server, anybody renting or amazon ec2 cant come close to this. I just need to find best ROI for CPUs and unfortunately didn't know about DRK until yesterday. It seems that breakeven for server rental is around difficulty of 40, at 100 I am not even recouping the cost of electricity. I tried to balance out the 2000MH whale, but all I was able to do was generate a few blocks for the pool I am in. If we can get more hashrate to CHAOSiTEC's pool, it could make it worthwhile for me to get back to 100MH. The problem when going up against the whale is he eats all the blocks dramatically reducing actual blocks generated, unless you hit lucky streak. I didn't want to join the pool with the whale even though it would have boosted my output, its just wrong to make things so lopsided. bad for coin. bad for other pools. Hey, big blue whale, at least balance your MH across all the pools! James |
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jl777
Legendary
Offline
Activity: 1176
Merit: 1132
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February 09, 2014, 07:16:39 PM |
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Should I sell my 2500 DRK and take a 25-30% profit in expectation to buy back when the whale dumps? Hard to predict whether he is going to dump or hold. If he holds, price will rise.
If its a gpu farm like eduffield thinks, he very well may hold. i think if will be gpu miner it get not more 2-3 hashrate then cpu.. Given my other observations, this makes it less and less likely it is a GPU miner! If true, this is great news for us CPU miners, big and small. My reasoning is that a GPU's power consumption is around 10 times that of CPU, not to mention capital cost. DRK mining costs cant be above electricity cost per DRK for very long. DRK per KWH of electricity is worse with a GPU if it gets less than 10 times hash rate of CPU. This also puts a rough market value floor of DRK = cost of electricity I bet someone can come up with a way to automatically calculate this price estimate based on typical electricity costs James Edit: Assuming a computer mines 4 coins per day and uses 250 watts -> ~$1/day at 15 cents per KWH -> price floor of 25 cents per DRK. If lucky enough to live in cheap electricity country, still floor is 10 cents/DRK. |
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