[HAVELOCK] SCRYPT 4 GH/s hosted scrypt mining project by CRYPTX

[Usman056]

To be fair, this is a recent event (the decoupling) and in any event we should be mining whatever scrypt coins are most profitable.

i want to know where the hashrate is being directed, its not on wemineltc.com

[TheSmackDown]

and whoever likes selling 150 shares at a serious loss - fucking stop it - if everyone set sell orders high, then bids will hv to match at some point.

or am i totally stupid?

[NotLambchop]

To be fair, this is a recent event (the decoupling) and in any event we should be mining whatever scrypt coins are most profitable.

The graph in my last post is BTC/LTC price, starting in March (6-hour candles).  At no point does LTC price rise relative to BTC.
Here's the same scale, LTC/USD:


https://bitcoinwisdom.com/markets/btce/ltcusd

Don't really keep track of other coins, but if there are some that maintain parity with BTC, their value would plummet as soon as the new ASICs start mining them.
ASIC manufacturers and commercial mines would like to take this opportunity to thank you for your support.

@TheSmackDown:  Don't know, but asking people not to sell isn't how the market works.

[pedrog]

To be fair, this is a recent event (the decoupling) and in any event we should be mining whatever scrypt coins are most profitable.

The graph in my last post is BTC/LTC price, starting in March (6-hour candles).  At no point does LTC price rise relative to BTC.
Here's the same scale, LTC/USD:


https://bitcoinwisdom.com/markets/btce/ltcusd

Don't really keep track of other coins, but if there are some that maintain parity with BTC, their value would plummet as soon as the new ASICs start mining them.
ASIC manufacturers and commercial mines would like to take this opportunity to thank you for your support.

@TheSmackDown:  Don't know, but asking people not to sell isn't how the market works.

You're not showing the whole picture...

[NotLambchop]

Lol, neither are you.

USD/LTC


BTC/LTC

[pedrog]

Lol, neither are you.

That's against dollar, bitcoin chart is quite similar...

[NotLambchop]

Just edited the post. 
*Bitcoin chart is quite dissimilar...

[pedrog]

Just edited the post.

You forgot BTC/USD chart...

And can you go back to PETA's topic I have some orders that need to be filled...

[NotLambchop]

Lol, way ahead of you, see edit above
Lemmy get this straight tho--you're doubling down on *TWO* of the worst preforming securities on HavelocK?

Horrible American song:

You've gotta know when to hold 'em
Know when to fold 'em
Know when to walk away
Know when to run

[TheSmackDown]

i thought scrypt asics were suppossed to drive prices higher in long run?

[MonkeyBear68]

NotLambchop is correct. The only ones making any profits are the chip manufactures. All these mining companies will be lucky if they cover their initial investment. The hash rate is simply going up too quickly.

The only mines that might make a small profit will be the ones in the places with the cheapest electricity. Washington State has rates as low as $0.02 a kwh. I believe BTC mines will move to those areas until ultimately they end up actually driving up the power rates in those areas. Mine operators will also need to be very efficient for their share-holders to make any profit.

The price graph for LTC is basically showing that its demand has fallen relative to BTC. Every week LTC is dropping. This means lower and lower dividends until ultimately only the hosting fee is covered.

[NotLambchop]

i thought scrypt asics were suppossed to drive prices higher in long run?

Why?  Being ASIC-resistant is what made scrypt coins attractive in the first place.

[IamNotSure]

Time will tell. We can't really sell our shares in such a tiny market, so we are stuck here.

Actually I see the reinforced Hashrate of the network as something positive, but the market seems to see otherwise.

[EdoBcn]

Time will tell. We can't really sell our shares in such a tiny market, so we are stuck here.

+1
stuck. but dividends are not bad

[TheSmackDown]

I thought the asic chip drove difficulty up so high on btc that the price had to rise due to cost of producing? You will hv to forgive me I am no techy, but now feel if i wanted to lose this kind of money, i should hv spent 2k per week on a software and hardware engineer to run my own btc/scrypt mine. FFFFing bollox hind sight, just wanted an easy return,

come on scrypt x prove yo mofo self or give me my share price.

[pedrog]

Lol, way ahead of you, see edit above
Lemmy get this straight tho--you're doubling down on *TWO* of the worst preforming securities on HavelocK?

Horrible American song:

You've gotta know when to hold 'em
Know when to fold 'em
Know when to walk away
Know when to run

Perhaps you misunderstood me, I have buy orders that need to be filled...

And, at least for me, PETA is the best performing security on Havelock.

[NotLambchop]

Lol, OK.  I'm sure you also sold your coins @$1200 and bought back @flash_crash.
Tell me which buy orders are yours, so when the price continues to tank, you too can receive my thoughtful condolences gif

*Are you the 333/333/333 guy ~0.01990242?  'Cos that's the only buy worth mentioning. 

[pedrog]

Lol, OK.  I'm sure you also sold your coins @$1200 and bought back @flash_crash.
Tell me which buy orders are yours, so when the price continues to tank, you too can receive my thoughtful condolences gif

*Are you the 333/333/333 guy ~0.01990242?  'Cos that's the only buy worth mentioning. 

It's very hard and I even call it luck to sell and buy on the very top and very low price but between the two there's a good range for profit, I'm pretty sure you're well aware of that...

[Korbman]

I thought the asic chip drove difficulty up so high on btc that the price had to rise due to cost of producing?

That's a misconception, and it's more likely the opposite is true. If the Bitcoin price was 1/10th as much as it is right now, chances are we wouldn't see network growth nearly as rapid due to associated energy costs. A higher BTC/Fiat value gives miners a greater incentive to do what they do. Manufacturers don't care what the network difficulty or BTC/Fiat price is so long as they can meet demand.

As far as Litecoin goes, there are two major drawbacks to how it's viewed, which tie into one another:
1) It's primarily an arbitrage medium. Many Scrypt miners convert whatever they've made back into Bitcoin. For decent sized farms like ScryptX that sell everything they make back into BTC, that may contribute to a declining altcoin value.
2) Litecoin isn't nearly as widely accepted as Bitcoin. Until Litecoin can be used in everyday transactions, or at least garner some positive media attention, the exchange rate will continue to fluctuate to what's largely a niche crowd.

[pedrog]

Ok, for the people who think litecoin is doomed, here's some historical data, it has been "doomed" a few times, compare it with BTC/USD there seems to be a correlation.

LTC/BTC



BTC/USD




But this doesn't matter, at least for this discussion, SCRYPT-X should be mining whatever coin is most profitable, distributing hashrate amongst a few multipools seems a good idea to me.