jpchrist
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Activity: 174
Merit: 100
16Q3R8NAfK63DvkTUGgLdPScyMU8uSAJUH
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May 04, 2014, 12:02:45 PM |
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Turk thank you very much for clarifying this ,
Hey guys lets design something so that we have 4-5 Multipool switcher with MH > BTC ratio showing on each site..... and what this software does is check the % 1MH to BTC and once something below and for a certain poreiod of time it swtiches to the next pool failover style so it keep checking back evry 5 minutes to check how the pofits are going to swtcih back,,, My favourite pool is clevermining so I would like to keep returfning back automatically once profts are back up ok then Once we see this drop there is an automatic script that switch to the next multipool
This doesn't make sense and won't do you any good, because it's not how variance works. This is how variance works:  This is us not finding even one LTC block during 12 hours (while putting ~50% of our hashrate into LTC) and then finding 6 blocks in 4 hours. If you have switched away from CleverMining after worse hours, you would miss better hours and in the end your profits would suffer. Switching between pools after some worse periods results in mining during worse periods but most likely missing better periods (on every pool between which you switch). Your profits would be lower. The best you can do is pick a pool which you like and which have good results in the long term average and stick to it. "Switching between pools after some worse periods results in mining during worse periods but most likely missing better periods" Sorry Terk, youre an awesome dude but that is simply not true. Its just luck. 12 hours of unlucky mining doesnt mean things will likely turn around or visa versa. Google "gamblers fallacy". |
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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byt411
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May 04, 2014, 12:07:18 PM |
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Turk thank you very much for clarifying this ,
Hey guys lets design something so that we have 4-5 Multipool switcher with MH > BTC ratio showing on each site..... and what this software does is check the % 1MH to BTC and once something below and for a certain poreiod of time it swtiches to the next pool failover style so it keep checking back evry 5 minutes to check how the pofits are going to swtcih back,,, My favourite pool is clevermining so I would like to keep returfning back automatically once profts are back up ok then Once we see this drop there is an automatic script that switch to the next multipool
This doesn't make sense and won't do you any good, because it's not how variance works. This is how variance works: This is us not finding even one LTC block during 12 hours (while putting ~50% of our hashrate into LTC) and then finding 6 blocks in 4 hours. If you have switched away from CleverMining after worse hours, you would miss better hours and in the end your profits would suffer. Switching between pools after some worse periods results in mining during worse periods but most likely missing better periods (on every pool between which you switch). Your profits would be lower. The best you can do is pick a pool which you like and which have good results in the long term average and stick to it. "Switching between pools after some worse periods results in mining during worse periods but most likely missing better periods" Sorry Terk, youre an awesome dude but that is simply not true. Its just luck. 12 hours of unlucky mining doesnt mean things will likely turn around or visa versa. Google "gamblers fallacy". -_- Let me translate that statement for you. "Switching between pools after some worse periods results in mining during worse periods but most likely missing better periods" "Switching between pools after some unlucky periods results in mining during unlucky periods but most likely missing lucky periods" |
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Xenocyde
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May 04, 2014, 02:00:23 PM
Last edit: May 04, 2014, 02:32:06 PM by Xenocyde |
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What Terk is saying is if another pool has better profitability than CM in the same time span, there's nothing to guarantee that said pool will have the same better profitability when you switch to it. So while you switch away from CM, you could be getting worse profitability on the other pool, while CM gets better profitability.
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jpchrist
Full Member
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Activity: 174
Merit: 100
16Q3R8NAfK63DvkTUGgLdPScyMU8uSAJUH
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May 04, 2014, 02:09:53 PM |
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The time has finally come! If you pay for electricity in the US and are mining with a radeon GPU the cost of the electricity is greater than the value of the BTC youre receiving through this pool for most. Its been a fun ride everyone. The LTC hashrate has increased over 50% in the last 2 weeks(!!!) and is only going to continue to rise rapidly. ASIC are here and are only going to get cheaper and more powerful.
However, the depressed BTC is actually a good thing. There is much profit to be made by selling hardware and buying cheap BTC
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byt411
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May 04, 2014, 02:10:43 PM |
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The time has finally come! If you pay for electricity in the US and are mining with a radeon GPU the cost of the electricity is greater than the value of the BTC youre receiving through this pool for most. Its been a fun ride everyone. The LTC hashrate has increased over 50% in the last 2 weeks(!!!) and is only going to continue to rise rapidly. ASIC are here and are only going to get cheaper and more powerful.
However, the depressed BTC is actually a good thing. There is much profit to be made by selling hardware and buying cheap BTC
So...? Switch to other coin algorithms. That's a huge advantage for GPUs. |
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zneww
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May 04, 2014, 02:13:39 PM |
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The time has finally come! If you pay for electricity in the US and are mining with a radeon GPU the cost of the electricity is greater than the value of the BTC youre receiving through this pool for most. Its been a fun ride everyone. The LTC hashrate has increased over 50% in the last 2 weeks(!!!) and is only going to continue to rise rapidly. ASIC are here and are only going to get cheaper and more powerful.
However, the depressed BTC is actually a good thing. There is much profit to be made by selling hardware and buying cheap BTC
So...? Switch to other coin algorithms. That's a huge advantage for GPUs. This. x11 is nice. |
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Xenocyde
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May 04, 2014, 02:13:52 PM |
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The time has finally come! If you pay for electricity in the US and are mining with a radeon GPU the cost of the electricity is greater than the value of the BTC youre receiving through this pool for most. Its been a fun ride everyone. The LTC hashrate has increased over 50% in the last 2 weeks(!!!) and is only going to continue to rise rapidly. ASIC are here and are only going to get cheaper and more powerful.
However, the depressed BTC is actually a good thing. There is much profit to be made by selling hardware and buying cheap BTC
So...? Switch to other coin algorithms. That's a huge advantage for GPUs. Exactly what I wanted to say. Let's not just jump to conclusions. We have to see how the X11 and Groestl, Scrypt-N and other new algorithms that may come pan out. What jpchrist may be suggesting is that Terk should jump to new algorithms and forget about the ASIC-invaded scrypt. My suggestion is Terk should try an X11 multipool, since there are around 3 relevant X11 coins now. |
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jpchrist
Full Member
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Activity: 174
Merit: 100
16Q3R8NAfK63DvkTUGgLdPScyMU8uSAJUH
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May 04, 2014, 02:33:34 PM |
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The time has finally come! If you pay for electricity in the US and are mining with a radeon GPU the cost of the electricity is greater than the value of the BTC youre receiving through this pool for most. Its been a fun ride everyone. The LTC hashrate has increased over 50% in the last 2 weeks(!!!) and is only going to continue to rise rapidly. ASIC are here and are only going to get cheaper and more powerful.
However, the depressed BTC is actually a good thing. There is much profit to be made by selling hardware and buying cheap BTC
So...? Switch to other coin algorithms. That's a huge advantage for GPUs. Exactly what I wanted to say. Let's not just jump to conclusions. We have to see how the X11 and Groestl, Scrypt-N and other new algorithms that may come pan out. What jpchrist may be suggesting is that Terk should jump to new algorithms and forget about the ASIC-invaded scrypt. My suggestion is Terk should try an X11 multipool, since there are around 3 relevant X11 coins now. X11 is certainly interesting and slightly more profitable than scypt (ATM) for GPU miners but I think the best investment right now is selling the hardware and buying cheap BTC. That is to say, I think putting money into BTC directly will ultimately be more profitable than mining X11, or scrypt with ASICs or GPUs. I just worry about the long term viability of X11, once the asics are online the GPU mining community will represent a very small percentage of the total hashrate. |
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umkas
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Activity: 14
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May 04, 2014, 03:25:04 PM |
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X11 is actual in summer cause it's cold. Also "cold" is energy effective and low noise from rig. Also X11 now asic resistive.
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byt411
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May 04, 2014, 03:27:42 PM |
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X11 is actual in summer cause it's cold. Also "cold" is energy effective and low noise from rig. Also X11 now asic resistive.
What the heck are you talking about? By the way, scrypt was supposed to be ASIC resistant too. |
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zneww
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May 04, 2014, 03:36:28 PM |
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X11 is actual in summer cause it's cold. Also "cold" is energy effective and low noise from rig. Also X11 now asic resistive.
What the heck are you talking about? By the way, scrypt was supposed to be ASIC resistant too. I think he means this... Mining X11 gives 3-4 times the hash power of Scrypt, uses less energy and generates less heat. My guess is he is not a native english speaker but he is right 100% maybe look into x11 some more if you have not ( http://www.cryptocoinsnews.com/news/pros-cons-x11-algorithm/2014/04/10) |
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byt411
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May 04, 2014, 03:37:50 PM |
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X11 is actual in summer cause it's cold. Also "cold" is energy effective and low noise from rig. Also X11 now asic resistive.
What the heck are you talking about? By the way, scrypt was supposed to be ASIC resistant too. I think he means this... Mining X11 gives 3-4 times the hash power of Scrypt, uses less energy and generates less heat. My guess is he is not a native english speaker but he is right 100% Oh. Wow. Nice translation, I had no idea what he was talking about. |
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Xenocyde
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May 04, 2014, 03:52:47 PM |
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The ASIC problem is not that hard to crack. People who make so called ASIC-resistent scrypts like X11 and Groestl and whatnot, can always make new scrypts when say X11 would be invaded by ASICs, because there's enough time from the announcement of certain scrypt ASIC til its actual release.
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umkas
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Activity: 14
Merit: 0
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May 04, 2014, 04:13:02 PM
Last edit: May 04, 2014, 04:27:37 PM by umkas |
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byt411, thanks for translation  One downvolted 280X Scrypt and NScrypt have temperature 70+Celsius at 100% coolers speed (generate noise and fast cooler breaking) and ~350Watts power consumption. One 280X X11 have 45C at 60% cooler (2x lower noise) speed and ~140W If it's profatible, ASIC will be made anyway for any algorythm. Hash power does not important at all. Total Cost Ovnership and comfort is important. You can drive locomotion (many fuel, very hot and noise) or in car. Scrypt or X11. Scrypt is more profatible then X11 now. But when summer is come, outdoor temperature will be 30-40C. Cards will be overheat and many people switch off rigs.
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PCMiner
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May 04, 2014, 04:18:44 PM |
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I think if we are mining LTC then the profitability should just say 100%, never below. If you are mining LTC you are getting 100% of what you should be getting with it, just sometimes that's less then you want. It's still 100%.
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punisher1
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Activity: 25
Merit: 0
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May 04, 2014, 04:24:20 PM |
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what i need to mine darkcoin with linux ?
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Catswold
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May 04, 2014, 04:51:09 PM |
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what i need to mine darkcoin with linux ?
Another forum thread. This one is for CleverMining. |
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klondike_bar
Legendary
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Activity: 2128
Merit: 1005
ASIC Wannabe
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May 04, 2014, 05:36:36 PM |
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X11 is actual in summer cause it's cold. Also "cold" is energy effective and low noise from rig. Also X11 now asic resistive.
What the heck are you talking about? By the way, scrypt was supposed to be ASIC resistant too. I think he means this... Mining X11 gives 3-4 times the hash power of Scrypt, uses less energy and generates less heat. My guess is he is not a native english speaker but he is right 100% maybe look into x11 some more if you have not ( http://www.cryptocoinsnews.com/news/pros-cons-x11-algorithm/2014/04/10) still not sure what makes X11 special - it isnt for LTC is it? From all I see it just looks like another altcoin and is less profitable than scrypt mining |
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zneww
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May 04, 2014, 05:44:53 PM |
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X11 is actual in summer cause it's cold. Also "cold" is energy effective and low noise from rig. Also X11 now asic resistive.
What the heck are you talking about? By the way, scrypt was supposed to be ASIC resistant too. I think he means this... Mining X11 gives 3-4 times the hash power of Scrypt, uses less energy and generates less heat. My guess is he is not a native english speaker but he is right 100% maybe look into x11 some more if you have not ( http://www.cryptocoinsnews.com/news/pros-cons-x11-algorithm/2014/04/10) still not sure what makes X11 special - it isnt for LTC is it? From all I see it just looks like another altcoin and is less profitable than scrypt mining  |
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byt411
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May 04, 2014, 05:46:35 PM |
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X11 is actual in summer cause it's cold. Also "cold" is energy effective and low noise from rig. Also X11 now asic resistive.
What the heck are you talking about? By the way, scrypt was supposed to be ASIC resistant too. I think he means this... Mining X11 gives 3-4 times the hash power of Scrypt, uses less energy and generates less heat. My guess is he is not a native english speaker but he is right 100% maybe look into x11 some more if you have not ( http://www.cryptocoinsnews.com/news/pros-cons-x11-algorithm/2014/04/10) still not sure what makes X11 special - it isnt for LTC is it? From all I see it just looks like another altcoin and is less profitable than scrypt mining It's another coin algorithm, not an altcoin. It's more profitable than LTC. |
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