GB Coin: Real Team & Workshops & Financial Goals

[Crypto-t]

Solo Mining with GB Coin: http://blog.gbcoinfoundation.org/simple-solo-mining-with-gb-coin/

In the workshop on Tuesday, Adrian was asked about mining rigs and is it worth investing in one? He replied with a big NO, not at the moment.

With the impending KnCMiners (aka The Titan) customized for scrypt-based mining, costing around $10,000, no one for sure knows what will happen when these beasts hit the market! There is rumour that coins not employing some form of effective difficulty targeting (like KGW or DigiShield), may be hit quite hard, but until they arrive no one knows for sure.

[Crypto-t]

Sara's Double Bounties: http://blog.gbcoinfoundation.org/saras-double-bounties/

    Hi guys,

    We are offering very generous bounties for liking/sharing our Facebook page, tweeting about us and writing a blog post about us.

    Blog post: 200 GBC (300 words with link back to the blog)
    FB like: 30
    FB share: 40
    Tweet: 40

    Sara

[Kestrel71]

Solo Mining with GB Coin: http://blog.gbcoinfoundation.org/simple-solo-mining-with-gb-coin/

In the workshop on Tuesday, Adrian was asked about mining rigs and is it worth investing in one? He replied with a big NO, not at the moment.

With the impending KnCMiners (aka The Titan) customized for scrypt-based mining, costing around $10,000, no one for sure knows what will happen when these beasts hit the market! There is rumour that coins not employing some form of effective difficulty targeting (like KGW or DigiShield), may be hit quite hard, but until they arrive no one knows for sure.

Not worth investing in a mining rig at the moment?  Me and my rigs disagree with that heavily.  If you are going to use multipools and coinwarz as a guide I would agree.  But people in the know know better.  As a person who is teaching people about rigs and stuff I am surprised by Adrian's over confident statement, which is totally way off and wrong.

[Crypto-t]

With the impending KnCMiners costing $10,000, Adrian's advice was to hold off and wait. What advice would you give, specifically?

Solo Mining with GB Coin: http://blog.gbcoinfoundation.org/simple-solo-mining-with-gb-coin/

In the workshop on Tuesday, Adrian was asked about mining rigs and is it worth investing in one? He replied with a big NO, not at the moment.

With the impending KnCMiners (aka The Titan) customized for scrypt-based mining, costing around $10,000, no one for sure knows what will happen when these beasts hit the market! There is rumour that coins not employing some form of effective difficulty targeting (like KGW or DigiShield), may be hit quite hard, but until they arrive no one knows for sure.

Not worth investing in a mining rig at the moment?  Me and my rigs disagree with that heavily.  If you are going to use multipools and coinwarz as a guide I would agree.  But people in the know know better.  As a person who is teaching people about rigs and stuff I am surprised by Adrian's over confident statement, which is totally way off and wrong.

[sumgye]

With the impending KnCMiners costing $10,000, Adrian's advice was to hold off and wait. What advice would you give, specifically?

Solo Mining with GB Coin: http://blog.gbcoinfoundation.org/simple-solo-mining-with-gb-coin/

In the workshop on Tuesday, Adrian was asked about mining rigs and is it worth investing in one? He replied with a big NO, not at the moment.

With the impending KnCMiners (aka The Titan) customized for scrypt-based mining, costing around $10,000, no one for sure knows what will happen when these beasts hit the market! There is rumour that coins not employing some form of effective difficulty targeting (like KGW or DigiShield), may be hit quite hard, but until they arrive no one knows for sure.

Not worth investing in a mining rig at the moment?  Me and my rigs disagree with that heavily.  If you are going to use multipools and coinwarz as a guide I would agree.  But people in the know know better.  As a person who is teaching people about rigs and stuff I am surprised by Adrian's over confident statement, which is totally way off and wrong.

I'd side with Adrian on this one, if we're talking to people that are just getting their feet wet. After the Scrypt ASIC's hit, GPU shifting from Scrypt to Scrypt-N and other alternatives could potentially saturate gpu only coins to limited profitability, and in that case, the people that will continue to do well with GPU rigs will be people that can understand and follow the Altcoin trends and ecosystem. Dumping a couple of grand into a rig right now, if you didn't know what you were doing, could very well put you in a sink or swim situation to just break even.

[Eastwind]

For the time being, there are not enough nscrypt and x11 coins to absorb the GPU migrating from scrypt. The difficulty of those coins are relatively high and the values of those coins are still very low. I only mine non scrypt coins now as my electricity is 24c/kWh. That  just breaks even as I undervolt and underclock aggresively.

So it is better not to invest in GPU or ASCII at present.

[Kestrel71]

With the impending KnCMiners costing $10,000, Adrian's advice was to hold off and wait. What advice would you give, specifically?

My advice would be too look at forums like these(a few out there)  and keep an eye on new coin releases.  anyone who says GPU's wont make you money at this stage in the game need to only look at black coin and white coin to know this to not be true.
My other advice would be to keep an eye on troll box's too on exchanges and get the general feeling for a coin before heavily investing in it or mining it.  Like i said if you are going to use the standard route of using coinwarz and multipools then yes your going to struggle to make money.
I don't know if you guys go into the trading side of coins too but that is where the real money is once you have mined your coin, for me anyway.

What a lot of people are missing is patience and expect what mining they have done to make them instant profit, wrong, sometimes it can take a few weeks sometimes longer after you have mined to really make decent profit.

[Eastwind]

With the impending KnCMiners costing $10,000, Adrian's advice was to hold off and wait. What advice would you give, specifically?

My advice would be too look at forums like these(a few out there)  and keep an eye on new coin releases.  anyone who says GPU's wont make you money at this stage in the game need to only look at black coin and white coin to know this to not be true.
My other advice would be to keep an eye on troll box's too on exchanges and get the general feeling for a coin before heavily investing in it or mining it.  Like i said if you are going to use the standard route of using coinwarz and multipools then yes your going to struggle to make money.
I don't know if you guys go into the trading side of coins too but that is where the real money is once you have mined your coin, for me anyway.

What a lot of people are missing is patience and expect what mining they have done to make them instant profit, wrong, sometimes it can take a few weeks sometimes longer after you have mined to really make decent profit.

What you said is not suitable for ordinary people to just buy a miner and make money.

Too much skill and lucky is required.

[Kestrel71]

What you said is not suitable for ordinary people to just buy a miner and make money.

Too much skill and lucky is required.

If anyone expects to just buy a miner turn it on and just make money then they are sadly mistaken. I am a ordinary person who was clueless about mining too, but I wasn't lazy and just expecting to turn my rigs on and make instant profit.
The things I have mentioned should be also brought up at these events then rather than just flat out say "Don't bother".  All the organisers would have to do is give a few links out too sites like these and a few exchanges.  And just tell them to do some homework/reading before heading off into the crypto world.

I read and studied the markets before I headed in, that aint luck and skill that's just using your brain and not stupidly walking in blind or being too lazy like 99.9% of the crypto world noobs do.

What's the point of doing events if the organisers just end up saying it is not worth it?  Why bother doing events with that attitude?

[Eastwind]

What you said is not suitable for ordinary people to just buy a miner and make money.

Too much skill and lucky is required.

If anyone expects to just buy a miner turn it on and just make money then they are sadly mistaken. I am a ordinary person who was clueless about mining too, but I wasn't lazy and just expecting to turn my rigs on and make instant profit.
The things I have mentioned should be also brought up at these events then rather than just flat out say "Don't bother".  All the organisers would have to do is give a few links out too sites like these and a few exchanges.  And just tell them to do some homework/reading before heading off into the crypto world.

I read and studied the markets before I headed in, that aint luck and skill that's just using your brain and not stupidly walking in blind or being too lazy like 99.9% of the crypto world noobs do.

What's the point of doing events if the organisers just end up saying it is not worth it?  Why bother doing events with that attitude?

I agree with you.

But for British miner at the moment, it is not worth mining as the electricity price is too high. If they believe in crypto currency, they should just buy.

[th3joker]

What you said is not suitable for ordinary people to just buy a miner and make money.

Too much skill and lucky is required.

If anyone expects to just buy a miner turn it on and just make money then they are sadly mistaken. I am a ordinary person who was clueless about mining too, but I wasn't lazy and just expecting to turn my rigs on and make instant profit.
The things I have mentioned should be also brought up at these events then rather than just flat out say "Don't bother".  All the organisers would have to do is give a few links out too sites like these and a few exchanges.  And just tell them to do some homework/reading before heading off into the crypto world.

I read and studied the markets before I headed in, that aint luck and skill that's just using your brain and not stupidly walking in blind or being too lazy like 99.9% of the crypto world noobs do.

What's the point of doing events if the organisers just end up saying it is not worth it?  Why bother doing events with that attitude?

That's not what was said at all, they said GPU mining would be less profitable due to the release of the KnCminer Titan.

When someone misquotes and adds a bad attitude does that help anyone?

The question asked was should we buy GPU or ASIC, obviously it makes sense to buy ASIC if you can afford it and it's available.

[Kestrel71]

I agree with you.

But for British miner at the moment, it is not worth mining as the electricity price is too high. If they believe in crypto currency, they should just buy.

I am English and am making decent money from GPU mining so that isn't a issue.

That's not what was said at all, they said GPU mining would be less profitable due to the release of the KnCminer Titan.

When someone misquotes and adds a bad attitude does that help anyone?

Oh I misread this then did I? have a look again at what was said before you accuse people of misreading, I know what he said it is clear as day for everyone to see.

Adrian was asked about mining rigs and is it worth investing in one? He replied with a big NO, not at the moment.

Sorry but I see a big fat NO.  As for bad attitude get over yourself and stop being over sensitive.  I am just stating it how I see it. Did I call anyone names or anything?  I am sure I gave advice though. And not a "don't bother" attitude that was given by a guy who is supposed to be helping people get into mining.

I can see why you would not like my post though considering your position with this coin.  Anyway, if your team want to go around the country spreading FUD about how its not worth GPU mining crack on, no skin of my nose.  just a shame it had to be my country coin that is doing it.

[Crypto-t]

Let me start again...

1. The Workshops attract crypto newbies;
2. The crypto newbies wanted advice on buying rigs;
3. Delivery of the Titan rigs is pending - if they live up to the hype, they will be superior to anything currently available (for Scrypt);
4. We know some one who has ordered 10 Titans, and might allow hashing contracts;

Given the above FACTS, surely it's best to advise people at the workshops to hold off! If the Titans live up to the hype, it may better for some of the guys from the workshop to do a group buy of a Titan rather than spending £1k to £2k each on a rig with only 3.5Mh.

The logic is really simple and we cannot understand why you have it all muddled!

I agree with you.

But for British miner at the moment, it is not worth mining as the electricity price is too high. If they believe in crypto currency, they should just buy.

I am English and am making decent money from GPU mining so that isn't a issue.

That's not what was said at all, they said GPU mining would be less profitable due to the release of the KnCminer Titan.

When someone misquotes and adds a bad attitude does that help anyone?

Oh I misread this then did I? have a look again at what was said before you accuse people of misreading, I know what he said it is clear as day for everyone to see.

Adrian was asked about mining rigs and is it worth investing in one? He replied with a big NO, not at the moment.

Sorry but I see a big fat NO.  As for bad attitude get over yourself and stop being over sensitive.  I am just stating it how I see it. Did I call anyone names or anything?  I am sure I gave advice though. And not a "don't bother" attitude that was given by a guy who is supposed to be helping people get into mining.

I can see why you would not like my post though considering your position with this coin.  Anyway, if your team want to go around the country spreading FUD about how its not worth GPU mining crack on, no skin of my nose.  just a shame it had to be my country coin that is doing it.

[th3joker]

I agree with you.

But for British miner at the moment, it is not worth mining as the electricity price is too high. If they believe in crypto currency, they should just buy.

I am English and am making decent money from GPU mining so that isn't a issue.

That's not what was said at all, they said GPU mining would be less profitable due to the release of the KnCminer Titan.

When someone misquotes and adds a bad attitude does that help anyone?

Oh I misread this then did I? have a look again at what was said before you accuse people of misreading, I know what he said it is clear as day for everyone to see.

Adrian was asked about mining rigs and is it worth investing in one? He replied with a big NO, not at the moment.

Sorry but I see a big fat NO.  As for bad attitude get over yourself and stop being over sensitive.  I am just stating it how I see it. Did I call anyone names or anything?  I am sure I gave advice though. And not a "don't bother" attitude that was given by a guy who is supposed to be helping people get into mining.

I can see why you would not like my post though considering your position with this coin.  Anyway, if your team want to go around the country spreading FUD about how its not worth GPU mining crack on, no skin of my nose.  just a shame it had to be my country coin that is doing it.

I was talking about what was said at the workshop and not what was posted here. I was trying to give the best advice possible to anyone interested in buying mining equipment now.

If you buy a Titan you get 300MH/s for $10,000 which equates to $33 per MH/s whereas a GPU rig is a $1,000 per MH/s (3.5MH/s) and costs the same to run as 1 titan and the titan runs about 85 times faster than a $3,500 rig.

Why on earth anyone would recommend GPU over ASIC is beyond me, I'm not saying you can't make money with it at all but for 3 times the cost you get 85 times the hash power if you bought 85 rigs it would cost 85 times the electric and approximately $297,500.00 vs $10,000 ??

[nikkers]

Come on folks,keep pushing on mintpal!!!!!

We have 661 votes at last time of checking....................unfortunately top spot has 87425 votes,so we have a long long way to go.

We are doing pretty well though as we're almost halfway up the voting table 

Keep voting every hour or whenever you can : https://www.mintpal.com/voting

[Kestrel71]

Why on earth anyone would recommend GPU over ASIC is beyond me,

N-adaptive, X11, keccack, sha3, and a few more other types of scrypt are a start.  N- adaptive got me 12 btc in 5 days worth of mining a certain coin on only 6MH scrypt rig(n-adaptive 2666MH)
With the 750ti doing 300kh for only 60w and the new 880's coming out from nvidia soon and producing over 1MH per card for around 220w why on earth wouldn't you consider a graphic card?
You are thinking just standard old scrypt coins are the only coins to mine?  These gridseeds and new knc miners are only good for coins like doge, ltc and the other types of standard scrypt, GPU's on the other hand will do all and have 0 restrictions unlike the asics which have no resale value and are scrypt specific.

Anyway I am done trying to educate you guys and hope in future you actually take some time and do some research before you go around with your doom and gloom attitude towards GPU mining.

By all means carry on saying GPU's are a waste of time though as it will keep my difficulty levels down while you all just mine standard scrypt.

[ECF]

 

http://www.ecoinfund.com/images/logo.jpg

Website | Twitter  | Bitcointalk

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[th3joker]

Why on earth anyone would recommend GPU over ASIC is beyond me,

N-adaptive, X11, keccack, sha3, and a few more other types of scrypt are a start.  N- adaptive got me 12 btc in 5 days worth of mining a certain coin on only 6MH scrypt rig(n-adaptive 2666MH)
With the 750ti doing 300kh for only 60w and the new 880's coming out from nvidia soon and producing over 1MH per card for around 220w why on earth wouldn't you consider a graphic card?
You are thinking just standard old scrypt coins are the only coins to mine?  These gridseeds and new knc miners are only good for coins like doge, ltc and the other types of standard scrypt, GPU's on the other hand will do all and have 0 restrictions unlike the asics which have no resale value and are scrypt specific.

Anyway I am done trying to educate you guys and hope in future you actually take some time and do some research before you go around with your doom and gloom attitude towards GPU mining.

By all means carry on saying GPU's are a waste of time though as it will keep my difficulty levels down while you all just mine standard scrypt.

I agree, you're absolutely right we've lost all the context because you weren't at the meeting.

We where talking about scrypt based coins and mining equipment for newbies. GPU rigs for people with only basic levels of understanding of computers can leave them feeling frustrated.

I had no intention of starting an argument especially when I agree with what you're saying.

[masterkiller]

GBC is listed at Coin-Swap.net

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[xwortel]

Why on earth anyone would recommend GPU over ASIC is beyond me,

N-adaptive, X11, keccack, sha3, and a few more other types of scrypt are a start.  N- adaptive got me 12 btc in 5 days worth of mining a certain coin on only 6MH scrypt rig(n-adaptive 2666MH)
With the 750ti doing 300kh for only 60w and the new 880's coming out from nvidia soon and producing over 1MH per card for around 220w why on earth wouldn't you consider a graphic card?
You are thinking just standard old scrypt coins are the only coins to mine?  These gridseeds and new knc miners are only good for coins like doge, ltc and the other types of standard scrypt, GPU's on the other hand will do all and have 0 restrictions unlike the asics which have no resale value and are scrypt specific.

Anyway I am done trying to educate you guys and hope in future you actually take some time and do some research before you go around with your doom and gloom attitude towards GPU mining.

By all means carry on saying GPU's are a waste of time though as it will keep my difficulty levels down while you all just mine standard scrypt.

I wonder what you currently are mining