Joori
Full Member
 Offline
Activity: 192
Merit: 100
Just an average guy with an average job!
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April 26, 2014, 02:49:04 PM |
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LTC or BTC or *insert coin pair here* trading really isn't that big of a deal. Fact is it's being traded and has been despite the rebranding and dropping of BTC trading pairs. More often than not the conversion works out to be very close regardless of trading pair.
Currently I'm making ~$3.10 a day... tomorrow it could be $5 or $2 depending on difficulty. Someone with 1 billion+ PND already has over $3000 USD worth of LTC in his possession. I myself have 87m so ~250-300 USD worth, that's nearly 1 BTC since it's so low atm. When it's so easy to mine atm, you can rack up quite a bit before the asics come along and absolutely rape everyone's GPU farms on Scrypt. Eventually, they'll tap into the other algo's because that's the flow of technology. Nothing is impossible nor improbable.
Price has been rising steady since the multipool came along as was expected and also talk about POS/Merged Mining so I wouldn't be surprised if BTC pairs begin appearing again. At the end of the day it don't mean squat to me I'll trade against any currency pair (and have been) that is available.
The people crying over asics and worrying about them are the same people who don't want to invest 10k on a titan, or buy the cheaper asics available that use far less power than a GPU. Perfect for me since I live in one of the worst countries for power rates. Australia really anals us with no lube @ 27c (some people paying 35+!) per kw/h. Tho I'm slowly building up a little Gridseed farm and why not... ~$150 per unit @ 7-10W each vs 800W+ just from 2 7970's, I'd say that's an excellent investment and my power bill won't be anywhere near what it is currently. We're currently finishing the summer season here in AU so winter will be fun since my rig will keep my room nice and toasty...
My mining rig alone doubles my household electricity usage and that's with 2 adults and 2 children. I was considering quitting mining due to the costs vs low BTC price. Before gox shit itself and BTC took a nose dive because of recent chinese propaganda, I was laughing all the way to the bank... I didn't have to worry about how much power I was using. Now I'm making a loss each and every day for the past 3 months and it's really caused me to reconsider my position as a miner. Point is, don't dwell on the past... rather evolve and go with the flow or you'll be left behind.
Just my 2PND worth...
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Eastwind
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April 26, 2014, 03:08:22 PM |
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My mining rig alone doubles my household electricity usage and that's with 2 adults and 2 children. I was considering quitting mining due to the costs vs low BTC price. Before gox shit itself and BTC took a nose dive because of recent chinese propaganda, I was laughing all the way to the bank... I didn't have to worry about how much power I was using. Now I'm making a loss each and every day for the past 3 months and it's really caused me to reconsider my position as a miner. Point is, don't dwell on the past... rather evolve and go with the flow or you'll be left behind.
Just my 2PND worth...
If you are losing money by mining, why not buying coins directly from exchanges? Just to secure the network? There is not much point of securing PND network as the hashing rate is so low. Anybody with 100MH/s can attack it easily. |
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pandacoin-official (OP)
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April 26, 2014, 03:36:53 PM |
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http://cryptocoinrank.com/Pandacoin has been added to the OP.
My mining rig alone doubles my household electricity usage and that's with 2 adults and 2 children. I was considering quitting mining due to the costs vs low BTC price. Before gox shit itself and BTC took a nose dive because of recent chinese propaganda, I was laughing all the way to the bank... I didn't have to worry about how much power I was using. Now I'm making a loss each and every day for the past 3 months and it's really caused me to reconsider my position as a miner. Point is, don't dwell on the past... rather evolve and go with the flow or you'll be left behind.
Just my 2PND worth...
If you are losing money by mining, why not buying coins directly from exchanges? Just to secure the network? There is not much point of securing PND network as the hashing rate is so low. Anybody with 100MH/s can attack it easily. Make everyone think like this and you're left with no miners. Every hash is important at this point.
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Joori
Full Member
Offline
Activity: 192
Merit: 100
Just an average guy with an average job!
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April 26, 2014, 03:42:42 PM |
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My mining rig alone doubles my household electricity usage and that's with 2 adults and 2 children. I was considering quitting mining due to the costs vs low BTC price. Before gox shit itself and BTC took a nose dive because of recent chinese propaganda, I was laughing all the way to the bank... I didn't have to worry about how much power I was using. Now I'm making a loss each and every day for the past 3 months and it's really caused me to reconsider my position as a miner. Point is, don't dwell on the past... rather evolve and go with the flow or you'll be left behind.
Just my 2PND worth...
If you are losing money by mining, why not buying coins directly from exchanges? Just to secure the network? There is not much point of securing PND network as the hashing rate is so low. Anybody with 100MH/s can attack it easily. Potcoin already has had an attack a few times the last week or so. They're hashrate is 2GH+ so any coin is vuln to an attack not just PND. If people really wanted to they could attack PND but why bother when other coins would be worth their time and energy. They were trading @ over 3000 satoshi's and now are barely just over 1000 satoshi's I like to mine, regardless of coin. It's a great hobby albeit an expensive one. It's easy to do and doesn't require alot of thought whereas I simply don't have the time to watch markets all day.  If there are no miners to secure the network then how would the coins be moved into exchanges to trade with. BTC's diff and hash are stupidly high yet people still mine it. Question is tho, why wouldn't you mine a coin with such low diff that is definitely rising again. Currently @ 10MH you can make 7.2M PND a day.. that's like a little over $20.50 @ current rates. |
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wzttide
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April 26, 2014, 05:11:35 PM |
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pandacoin-official (OP)
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April 26, 2014, 06:23:28 PM |
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Thank you for having us. Added to the OP. |
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blinge
Newbie
Offline
Activity: 40
Merit: 0
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April 26, 2014, 07:01:58 PM |
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i thought i had alot of coin with my 16mil PND :__( now i just feel small
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Eastwind
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April 26, 2014, 08:04:21 PM |
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i thought i had alot of coin with my 16mil PND :__( now i just feel small
That is small amount, but if we can find a use for PND, it could worth a lot. I mined over a billion coins, but sold most of it. I will still mine and sell until PND is useful. |
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pandacoin-official (OP)
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April 26, 2014, 08:12:59 PM |
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i thought i had alot of coin with my 16mil PND :__( now i just feel small
That is small amount, but if we can find a use for PND, it could worth a lot. I mined over a billion coins, but sold most of it. I will still mine and sell until PND is useful. The issue I'm seeing with selling coins right now is that it won't leave breath for people, or even the multipool for that matter, actually wanting to buy into the coin (Yes, those exist). As a result of a low price you're scaring away new miners as well. A constant suppressed price won't help anyone to build faith in the currency. We need a certain level of price range and liquidity in order to give it usefulness for real applications. |
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mtrycz
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April 26, 2014, 08:42:55 PM
Last edit: April 26, 2014, 09:17:40 PM by mtrycz |
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For my part, I'm developing a service exclusive to PND, which you can find here: 1dash.netIt's a user defined dashboard. What this means is that, instead of having data thrown at you, you choose what data you want to see, and the layout with which you want to see them. It's designed with ease of use in mind, you can just drag&drop and resize your panels whichever way you like. 1# Update! This is a UI/Usability update. You can now view what features are being worked on in the features page. The next feature will be a Fiat Exchange. I'll try to have that for tomorrow. The faucet's got it's own captcha. The cooldown is still 4h, but only until monday, so try to go with it fast. Have fun! |
PND, the cryptocurrency with a plan
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vested
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April 26, 2014, 09:30:00 PM |
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I really like PandaCoin. I wish others wouldnt hate us for no reason, though. This coin should be second to DOGE in the East! Its not going extinct!  |
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Jacques21
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April 27, 2014, 12:25:38 AM |
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why cant i buy votes for panda with bitcoin? i only had 1 cryptsy point, it only got 5 votes though.
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barryzand
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April 27, 2014, 12:31:08 AM |
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why cant i buy votes for panda with bitcoin? i only had 1 cryptsy point, it only got 5 votes though.
You can buy cryptsypoints with btc...  |
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Joesixpack9000
Full Member
Offline
Activity: 157
Merit: 100
Bohemian Crypto Guardian
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April 27, 2014, 12:31:50 AM |
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DONE!!! This was a nice surprise to wake up to today, being added to cryptsy's coin vote + cryptocoinrank + new exchange! |
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Jacques21
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April 27, 2014, 12:32:27 AM |
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why cant i buy votes for panda with bitcoin? i only had 1 cryptsy point, it only got 5 votes though.
You can buy cryptsypoints with btc... I forgot all about that. Im still waking up, need more coffee. |
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barryzand
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April 27, 2014, 12:37:42 AM |
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why cant i buy votes for panda with bitcoin? i only had 1 cryptsy point, it only got 5 votes though.
You can buy cryptsypoints with btc... I forgot all about that. Im still waking up, need more coffee. And points are cheaper.. 5 votes for 0.00078 or something... cryptsy tricks to bring volume to the points market lol |
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