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Question: I would purchase mining time with...
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Author Topic: GPUMAX | The Bitcoin Mining Marketplace  (Read 214617 times)
jamesg
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July 14, 2012, 10:20:31 AM
 #2141

In that case, who would ever pay the premium? Huh

Vandroiy,

I am, again, going to make this quite simple for you. Paying a premium on shares and running them on deepbit is like gambling. If deepbit gets lucky, you get more coins than you paid. If deepbit is unlucky while you are running your purchase, you get less coins than you paid. Miners and pirate are the house in this case, winning every time a bet is placed. Purchasers are the gamblers trying to win big.

Best,
gigavps
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Vandroiy
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July 14, 2012, 11:05:09 AM
 #2142

Vandroiy,

I am, again, going to make this quite simple for you. Paying a premium on shares and running them on deepbit is like gambling. If deepbit gets lucky, you get more coins than you paid. If deepbit is unlucky while you are running your purchase, you get less coins than you paid. Miners and pirate are the house in this case, winning every time a bet is placed. Purchasers are the gamblers trying to win big.

Best,
gigavps

Just like Macau is a gambling paradise between Hong Kong Dollars and Yuan? Grin

No, seriously, have you ever felt it exciting to do that? Where are the gamblers, I only see miners everywhere.
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July 14, 2012, 11:22:34 AM
 #2143

In that case, who would ever pay the premium? Huh

Vandroiy,

I am, again, going to make this quite simple for you. Paying a premium on shares and running them on deepbit is like gambling. If deepbit gets lucky, you get more coins than you paid. If deepbit is unlucky while you are running your purchase, you get less coins than you paid. Miners and pirate are the house in this case, winning every time a bet is placed. Purchasers are the gamblers trying to win big.

Best,
gigavps
I highly doubt there is a huge market for -EV mining "gambling".  There are many gambling games that have less of a house hedge and are more fun than mining.

Cryptocoin Mining Info | OTC | PGP | Twitter | freenode: dust-otc | BTC: 1F6fV4U2xnpAuKtmQD6BWpK3EuRosKzF8U
ErebusBat
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July 14, 2012, 02:28:12 PM
 #2144

It is all in the eye of the beholder (or customer in this case).

For people who have enjoy gambling and do not want to invest in their own mining hardware then GPUMAX is perfect.  Maybe you win, maybe you dont.

Looking at it using the same logic some people would ask why other sit in front of slot machines when they *know* that the house has an edge (i.e. they are paying for more for the coins they might win).   There are about 9,001 answers to that, but it is very similar.

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July 14, 2012, 04:51:51 PM
 #2145

I am a miner, and I have made a few purchases.  In fact I doubled my money one one purchase and lost a small amount twice.  I quit while I was ahead.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
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July 14, 2012, 05:55:19 PM
 #2146

It is all in the eye of the beholder (or customer in this case).

For people who have enjoy gambling and do not want to invest in their own mining hardware then GPUMAX is perfect.  Maybe you win, maybe you dont.

Looking at it using the same logic some people would ask why other sit in front of slot machines when they *know* that the house has an edge (i.e. they are paying for more for the coins they might win).   There are about 9,001 answers to that, but it is very similar.

chasing those 5 blocks in 10 minute moments "This pool is ready to payout" lol

14ga8dJ6NGpiwQkNTXg7KzwozasfaXNfEU
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July 14, 2012, 05:59:47 PM
 #2147

It is all in the eye of the beholder (or customer in this case).

For people who have enjoy gambling and do not want to invest in their own mining hardware then GPUMAX is perfect.  Maybe you win, maybe you dont.

Looking at it using the same logic some people would ask why other sit in front of slot machines when they *know* that the house has an edge (i.e. they are paying for more for the coins they might win).   There are about 9,001 answers to that, but it is very similar.

chasing those 5 blocks in 10 minute moments "This pool is ready to payout" lol
Now if pirate starts offering free drinks we know it is a casino!

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July 14, 2012, 07:25:29 PM
 #2148

It is all in the eye of the beholder (or customer in this case).

For people who have enjoy gambling and do not want to invest in their own mining hardware then GPUMAX is perfect.  Maybe you win, maybe you dont.

Looking at it using the same logic some people would ask why other sit in front of slot machines when they *know* that the house has an edge (i.e. they are paying for more for the coins they might win).   There are about 9,001 answers to that, but it is very similar.

chasing those 5 blocks in 10 minute moments "This pool is ready to payout" lol
Now if pirate starts offering free drinks we know it is a casino!
Only to high rollers, sorry Smiley

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July 14, 2012, 09:00:33 PM
 #2149

It is all in the eye of the beholder (or customer in this case).

For people who have enjoy gambling and do not want to invest in their own mining hardware then GPUMAX is perfect.  Maybe you win, maybe you dont.

Looking at it using the same logic some people would ask why other sit in front of slot machines when they *know* that the house has an edge (i.e. they are paying for more for the coins they might win).   There are about 9,001 answers to that, but it is very similar.

chasing those 5 blocks in 10 minute moments "This pool is ready to payout" lol
Now if pirate starts offering free drinks we know it is a casino!
Only to high rollers, sorry Smiley

High roller?  I am still outside with my nose pressed aginst the glass...

░▒▓█ Coinroll.it - 1% House Edge Dice Game █▓▒░ • Coinroll Thread • *FREE* 100 BTC Raffle

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phorensic
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July 16, 2012, 10:44:44 PM
 #2150

Just wanted to give some feedback about my GPUMAX experience lately.

For months my cgminer has not been getting work from GPUMAX even thought it "pings" the pool successfully periodically and my PPS price is inline with what I've used in the past and what other users are currently reporting they have set theirs to.  I decided to run a little test and drop my PPS price *WAY* down just to see if I would get work.  I now get "chunks" of work every once in a while, but most of the time cgminer is hitting my other pool instead.  I have been watching things closely when cgminer does actually get work from GPUMAX and I noticed it is not a good quality "stream" of work.  It is very choppy.  Cgminer is constantly complaining that GPUMAX is not providing work fast enough and eventually switches back to my other pool.  This might be OK if the PPS price was so high it made up for the micro gaps, but it doesn't.

At this time I am disabling GPUMAX as one of my pool options.  I don't think this is a problem with buyers of GPUMAX shares so much as it is an infrastructure and programming problem, based on the patterns I see.  I really don't have anything against this service, I would just like to see it become a little more solid.
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July 16, 2012, 11:44:31 PM
 #2151

Cgminer is constantly complaining that GPUMAX is not providing work fast enough and eventually switches back to my other pool.  This might be OK if the PPS price was so high it made up for the micro gaps, but it doesn't.

I'm rarely getting insufficient work, and only immediately after longpolls. Then it's back to normal. Check your private pool or latency?
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July 17, 2012, 09:35:41 PM
 #2152

Cgminer is constantly complaining that GPUMAX is not providing work fast enough and eventually switches back to my other pool.  This might be OK if the PPS price was so high it made up for the micro gaps, but it doesn't.

I'm rarely getting insufficient work, and only immediately after longpolls. Then it's back to normal. Check your private pool or latency?
I cannot get GPUMAX to pull work from my private pool--might as well just say who, it's BTCGuild.  It is set up properly in GPUMAX, it just never passes through the work.  I never understood why that was an option anyway.  I just configured cgminer for both pools and whenever GPUMAX had work for me cgminer would switch over.  As far as latency, shouldn't be an issue, especially when I did tests when I used to run a public pool of my own.  I am ~12ms to a good hop such as Google, ~71ms to BTCGuild, and ~49ms to GPUMAX.
pirateat40
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July 19, 2012, 07:34:26 PM
 #2153

Update

Due to on-going issues (high stale/reject) with Slush's pool we've stopped supporting it. 

Thanks,

-pirate

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July 20, 2012, 03:20:08 PM
 #2154

Update

Due to on-going issues (high stale/reject) with Slush's pool we've stopped supporting it. 

Thanks,

-pirate
Can you give an update on how many people are still in the queue waiting for an account, and how quickly you're moving towards getting accounts for all the users waiting?
Thanks.
nedbert9
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July 28, 2012, 11:01:38 PM
 #2155



Any issues with GPUMax reporting Dead in cgminer?
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July 28, 2012, 11:09:07 PM
 #2156

yes its dead
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July 29, 2012, 02:45:00 PM
 #2157

anyone else is having problems? my miner is not connecting.  Undecided
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July 29, 2012, 06:16:54 PM
 #2158

anyone else is having problems? my miner is not connecting.  Undecided

Consider reading the 2 posts right before yours.
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July 29, 2012, 07:55:59 PM
 #2159

Update

Due to on-going issues (high stale/reject) with Slush's pool we've stopped supporting it. 

Thanks,

-pirate
Can you give an update on how many people are still in the queue waiting for an account, and how quickly you're moving towards getting accounts for all the users waiting?
Thanks.

Same question. I like to buy some mining power but no answer from the GPUMAX.

While reading what I wrote, use the most friendliest and relaxing voice in your head.
BTW, Things in BTC bubble universes are getting ugly....
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July 29, 2012, 08:11:11 PM
 #2160

Update

Due to on-going issues (high stale/reject) with Slush's pool we've stopped supporting it. 

Thanks,

-pirate
Can you give an update on how many people are still in the queue waiting for an account, and how quickly you're moving towards getting accounts for all the users waiting?
Thanks.
i submitted in february and haven't received anything

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