Discussion in 'Architecture and Products' started by CarstenS, Jun 1, 2017.
Quick-switch between blockchain and adrenalin driver on Vega for those mining monero:
Awesome if this works, thanks !
I've gone the pay for my gaming deathstar destroying hardware (7980XE, 960 pro main drive, WD 2TB Nvm second drive, 64 GB 3600mhz Gskill RAM, liquid AIO) route myself for this desktop ring.
Nice that I can now enjoy better gaming on it. I'd only worry about Spectre & Meltdown now
What is it with the cherry picking numbers for XMR. Like any cryptocurrency it rises or falls with demand. Why not use the $542.33 price on Monday Jan 8, 2018 instead.
You seem to be trying very hard to claim that it is destined to fail because of a recent price retraction. Using that logic then Bitcoin's fall from $19000 to $13000 "puts a nail in its unhindered march to greatness".
As I stated earlier I started mining XMR when it was $200 a coin at and it was profitable at that price.
Right now it is $412.78 and so it is even more profitable for me to mine.
I was being ironic to counter a bit was I percieved as being too optimistic a picture coming from you. I'm trying nothing besides saying that prices fluctuate often and sometimes wildly with cryptocoins.
XMR is a solid coin. Ring signatures are state of the art on privacy. Hence If the market behaves rationally (which you can never count on, unfortunately), XMR should always be near the top.
I think you rather need to use Wattomine.com for profitability estimates.
Price alone has little to do with profitability. For example Electroneum (still a Cryptonight coin, so you get the exact same hashrate mining it as you do for XMR) is now worth 0.15$. As far as profitability is concerned, you get 75% more profit for mining it instead of XMR ($397). Simply because you get a lot more ETN than XMR in the same time
So what's the best way to find out the next pump and dump? Usually it's a coin that's been around a few years and, out of nowhere, it starts climbing very fast. If you could get, say, a million or two $$ invested early in the rise then sell just as the first derivative hits zero or slightly negative then you can retire at 20, but you have to have a way of spotting the upcoming pump.
If only I knew!
Yup. Network difficulty must always be considered. Sometimes on WhatToMine a coin will skyrocket in profitability and some will think, "I have to jump on that!" but when you look closer, you see that the profitability jumped because the network hashrate tanked and the difficulty dropped.
I think this happens a lot to those with a lot of hashrate on auto-switching pools. Normally you'll see a coin with low difficulty so it's listed on the pools as a very high profitable coin, and a lot of mining power will auto-switch to that coin. Then the coin's difficulty skyrocketed because of that (and at the same time other coins' difficulties go down), so they jump to the second best coin at the time, and so on.
The bigger coins are much less susceptible to this, but some smaller coins where the network hashrates are dominated by the largest auto-switching pools do show this behavior frequently.
Any guesses as to how much $$ one would need to manage the types of pump and dumps we see daily in crypto?
Well isn't it not just about pure $$ ? , but also PR and notoriety matters a lot
I personally try to say away from any of that, it's beyond me and I do find it somewhat a morally questionable practice
Yeah. My expectation is it's less about committing a bunch of financial resources to one coin and forcing a pump and more about putting some financial resources into a bunch of them to "prime the pumps" and then trying to influence the general public through various means to get behind them. You'd only need one to take to make the whole thing worthwhile.
There are a lot of people out there with zero concept of a coin's "value" beyond the fiat equivalent price and a sales pitch they read/heard. Those people are very easy to manipulate.
We have examples of XVG , ETN and possibly other P & D attemts via John Mcaffe's "coin of the day" in this late december.
I stay away from scam coins:
The discussion was about profitability. The comparison was between ETN & XMR thus still holds. I don't care what you mine honestly, no clue why you bring that up now.
We should all be mining several coins, because we don't really know which one will take off (based on merit or on useless hype).
As for scams, I find it not as easy to distinguish between naive and inexperienced developer teams and teams with malicious intents. ETN & BTG are IMO such examples where I wouldn't make a judegement one way or the other
Based on my recent results, I found merit in making the coin(s) you choose to mine and the coin(s) you choose to hold two distinct things if you're looking for optimal results.
Distict sure but not disjoint I hope ?
For me, the process of choosing which coins to mine and transacting them for the coin I want to hold is automated. So that leaves me with having to decide which coin(s) to transact out of the service to my personal wallet(s) (which is limited by MPH's supported coins) and which additional coin(s) I might want to hold that I can easily transact to from my personal wallet(s) using ShapeShift.
What are you using to automate?
Awesomeminer software to manage miners connecting to MiningPoolHub.
Oh, and MiningpoolHubStats to more easily keep track of what is happening on MPH.
As another datapoint , managed to sell off the PIRL I was holding. Mined it back in October I think, when I wold have been able to sell it at about 0.4$ each.
It has been slowly increasing in price but since it is somewhat new and, besides pretty active development, doesn't promise anything switched to mining other things.
Last week it managed to climb upt to 2$ but somehow today it was even higher, 4$ for a few hours.
So getting 10x value increase is pretty sweet..
Just to present this as an alternative to some service choosing what to mine for me. Not saying it's better or worse.