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Author Topic: I'm stupid and need help  (Read 539 times)
jjj0923 (OP)
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March 21, 2014, 04:45:19 PM
 #1

I admit it - well maybe not stupid let's say just uneducated...

ok - so I'm looking at coinwarz.com page that allows you to enter your kh/s rate and how much you'll make per day in USD

in particular:

http://www.coinwarz.com/cryptocurrency/?sha256HashRate=200.00&sha256Power=400.00&sha256PowerCost=0.1500&scryptHashRate=6500.00&scryptPower=500.00&scryptPowerCost=0.1000&sha256Check=true&scryptCheck=true&e=Coinbase

so - I see this coin called DGB near the top - it says if I mine with with my 6,500 KH/s script I can generate about $35(USD) in revenue daily.

so then I go looking for a pool that mines DGB and I find: https://dgb.luckyminers.com/

so tell me this: If I signup there and start mining am I really going to accumulate the equivalent of $35/day in DGB coins?

and then - once I have the coins how do I turn them into BTC or some other Virtual Currency?

thanks so much in advance for enlightening me....

Smiley

Lifeforce Pools : http://www.lifeforce.info
Earthcoin :http://eac.lifeforce.info -  Netcoin:  http://net.lifeforce.info - Hundred Coin Pool : http://100.lifeforce.info
Redoakcoin Pool : http://roc.lifeforce.info Guldencoin http://nlg.lifeforce.info also Worldcoin, Guncoin, NOBL, USDe, Tagcoin, Topcoin , Tagcoin , Credits, Goldcoin & Hobonickels
K0b1
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March 21, 2014, 04:49:08 PM
 #2

It just tell you how much you are going to make at the current moment and that changes a lot during the day, Followed by difficulty level.

You can exchange your coins here :
Mintpal

https://www.mintpal.com/market/DGB/BTC

The safest for now.
K0b1
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March 21, 2014, 04:50:36 PM
 #3

Or you can try Cryptsy:

https://www.cryptsy.com/markets/view/167
TrollboxChamp
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March 21, 2014, 04:53:52 PM
 #4

No you wont make 35 dollars per day. probably like 25 the difficulty will fluctuate depending on profitability.
jjj0923 (OP)
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March 21, 2014, 05:10:27 PM
 #5

speaking of difficulty --- is it a sure bet - cast in stone that btc difficulty will go up as advertised everywhere?

is that cast in stone?

if so - I keep wondering why people are investing $6k in 2 TH/s rigs that won;t be delivered until next month - I don't get the logic - or lack thereof...

thanks

Lifeforce Pools : http://www.lifeforce.info
Earthcoin :http://eac.lifeforce.info -  Netcoin:  http://net.lifeforce.info - Hundred Coin Pool : http://100.lifeforce.info
Redoakcoin Pool : http://roc.lifeforce.info Guldencoin http://nlg.lifeforce.info also Worldcoin, Guncoin, NOBL, USDe, Tagcoin, Topcoin , Tagcoin , Credits, Goldcoin & Hobonickels
MashRinx
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March 21, 2014, 05:53:15 PM
 #6

speaking of difficulty --- is it a sure bet - cast in stone that btc difficulty will go up as advertised everywhere?

is that cast in stone?

if so - I keep wondering why people are investing $6k in 2 TH/s rigs that won;t be delivered until next month - I don't get the logic - or lack thereof...

thanks


Difficulty changes are not cast in stone, but recent difficulty adjustments are probably the best estimate you can make on what at least the next few adjustments might look like.  You're right to wonder about the possibility of the RoI of current ASIC purchases with difficulty increases, but you also have to factor in future prices of BTC.  If someone feels like the future of BTC is strong, than they may feel like future price increases will offset the difficulty increases.


To comment on your original question, I think you also have to look at WHY a given coin is at the top of coinwarz, coinchoose, or similar sites?  I have seen coins that, after researching them, are almost completely dead, yet they show up at the top of those lists.  In those cases I think you have to also ask yourself why they are at the top at that point?  I usually assume a short-term pump only because a pre-mine holder wants the coin at the top of the list to gain interest so they can dump their holdings.  What is the trade volume, what's the difficulty, and if there are not pools, which is often the case with these low-difficulty coins, are you want to deal with solo-mining it..?
jjj0923 (OP)
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March 21, 2014, 05:58:05 PM
 #7

aha - pump & dump!

one othjer question since you are more knowledgeable than I am - what other coins can be mined with sha-256 - where will everyone go once btc becomes too difficult to mine and lots of equipment is sitting around under or un-utilized

Huh

Lifeforce Pools : http://www.lifeforce.info
Earthcoin :http://eac.lifeforce.info -  Netcoin:  http://net.lifeforce.info - Hundred Coin Pool : http://100.lifeforce.info
Redoakcoin Pool : http://roc.lifeforce.info Guldencoin http://nlg.lifeforce.info also Worldcoin, Guncoin, NOBL, USDe, Tagcoin, Topcoin , Tagcoin , Credits, Goldcoin & Hobonickels
jjj0923 (OP)
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March 21, 2014, 06:57:53 PM
 #8

aha - pump & dump!

one othjer question since you are more knowledgeable than I am - what other coins can be mined with sha-256 - where will everyone go once btc becomes too difficult to mine and lots of equipment is sitting around under or un-utilized

Huh


good questions - it's why I'm setting up my own pool - so I can mine alone with some of the lower priced coins.

Lifeforce Pools : http://www.lifeforce.info
Earthcoin :http://eac.lifeforce.info -  Netcoin:  http://net.lifeforce.info - Hundred Coin Pool : http://100.lifeforce.info
Redoakcoin Pool : http://roc.lifeforce.info Guldencoin http://nlg.lifeforce.info also Worldcoin, Guncoin, NOBL, USDe, Tagcoin, Topcoin , Tagcoin , Credits, Goldcoin & Hobonickels
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