jamesg
VIP
Legendary
 Offline
Activity: 1358
Merit: 1000
AKA: gigavps
|
 |
July 14, 2012, 10:20:31 AM |
|
In that case, who would ever pay the premium?  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 |
|
|
|
|
|
|
|
|
|
|
|
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!
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
|
|
Vandroiy
Legendary
Offline
Activity: 1036
Merit: 1002
|
|
July 14, 2012, 11:05:09 AM |
|
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?  No, seriously, have you ever felt it exciting to do that? Where are the gamblers, I only see miners everywhere. |
|
|
|
|
|
dust
|
|
July 14, 2012, 11:22:34 AM |
|
In that case, who would ever pay the premium? 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. |
|
|
|
|
ErebusBat
|
|
July 14, 2012, 02:28:12 PM |
|
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.
|
|
|
|
notme
Legendary
Offline
Activity: 1904
Merit: 1002
|
|
July 14, 2012, 04:51:51 PM |
|
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.
|
|
|
|
|
drakahn
|
|
July 14, 2012, 05:55:19 PM |
|
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
|
|
|
|
ErebusBat
|
|
July 14, 2012, 05:59:47 PM |
|
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! |
|
|
|
|
BTCurious
|
|
July 14, 2012, 07:25:29 PM |
|
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  |
|
|
|
|
ErebusBat
|
|
July 14, 2012, 09:00:33 PM |
|
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 High roller? I am still outside with my nose pressed aginst the glass... |
|
|
|
|
phorensic
|
|
July 16, 2012, 10:44:44 PM |
|
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.
|
|
|
|
|
miscreanity
Legendary
Offline
Activity: 1316
Merit: 1005
|
|
July 16, 2012, 11:44:31 PM |
|
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? |
|
|
|
|
|
phorensic
|
|
July 17, 2012, 09:35:41 PM |
|
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 (OP)
Avast Ye!
Sr. Member
Offline
Activity: 378
Merit: 250
"Yes I am a pirate, 200 years too late."
|
|
July 19, 2012, 07:34:26 PM |
|
Update
Due to on-going issues (high stale/reject) with Slush's pool we've stopped supporting it.
Thanks,
-pirate
|
|
|
|
MrTeal
Legendary
Offline
Activity: 1274
Merit: 1004
|
|
July 20, 2012, 03:20:08 PM |
|
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
Sr. Member
Offline
Activity: 252
Merit: 250
Inactive
|
|
July 28, 2012, 11:01:38 PM |
|
Any issues with GPUMax reporting Dead in cgminer?
|
|
|
|
|
singular
Member
Offline
Activity: 108
Merit: 10
|
|
July 28, 2012, 11:09:07 PM |
|
yes its dead
|
|
|
|
|
|
phantitox
|
|
July 29, 2012, 02:45:00 PM |
|
anyone else is having problems? my miner is not connecting.  |
|
|
|
|
beaups
Newbie
Offline
Activity: 35
Merit: 0
|
|
July 29, 2012, 06:16:54 PM |
|
anyone else is having problems? my miner is not connecting. Consider reading the 2 posts right before yours. |
|
|
|
|
EskimoBob
Legendary
Offline
Activity: 910
Merit: 1000
Quality Printing Services by Federal Reserve Bank
|
|
July 29, 2012, 07:55:59 PM |
|
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....
|
|
|
zvs
Legendary
Offline
Activity: 1680
Merit: 1000
https://web.archive.org/web/*/nogleg.com
|
|
July 29, 2012, 08:11:11 PM |
|
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 |
|
|
|
|
|
Poll
