Topic: [ANN] Ravencoin [RVN] PoW GPU Mining | Asset Transfer Blockchain (Updated ANN) - page 58. (Read 1170613 times)

HAH what a fucking idiot, don't delude yourself, this shitcoin is not comparable to bitcoin at all.  This is just a shitcoin created to make some fast money.   So your just gonna sit there and hold a worthless piece of shit while smart people dump on your ass.

I mine at a loss because I can. RVN is a hobby. I have a real job so I can afford to wait. I mined BTC for over a year at a loss in 2013. I waited. I am happy I did. I do not belong to any group. I do not take orders from any devs/miners. I mine on home PCs with decent graphics cards. If RVN collapses I can still play video games in 4K with my kids. I recognized that RVN has potential huge upside with very little downside. I bought a bag when it was over 5 cents on Cryptobridge because my hash rate is really low. I’m underwater by 74%, but that is not the point.

Sure, I’ve lost “real” money in RVN already, and I may lose it all, but I don’t care. I’m willing to risk loosing everything now (not much) for potential gain of loads more later, but to have a chance requires supporting the network now.

If everyone trades, or mines and dumps, we all lose.

I guess I’m just a real HODLER.

But William, this is exactly what I am saying: do you belong in certain way to kind of "central authority" inside RVN? You are recognizing that you mine on loss. I have detected this behaviour before on this coin. Could you tell us why? It doesnt make sense to mine on losses.

Yes its i like raven because its have their own unique algorithm and also raven coin listed on reputable exchange like binance that have huge volume of trading

Raven is worth to buy from my point of view it is very cheap but potential is very huge. It looking very stable in current situation I am converting my other tokens into this coin.

[
RVN is trading today at $0.013 USD. It has well over $1 Million per day in trade volume (which is way more than about 40 coins on the top 100 coin list). It could EASILY get to $0.10 in the next 3 years, but ONLY IF it has a strong network and community.

I want $0.10 to happen. It needs everyone’s help to get there, and every hash helps.

We mine because we are Ravencoin.


[/quote]

..mm helps to who? not helping miners to get rich and pay off their systems.Devs get rich, some traders get rich...not miners.And you told us..wait for 3 years to up to 0.10 cents....What a crapp... we need 0.30 plus.. and the stupid BTC level 8000-12000 to see something.

Look, as difficult as it is for most of you to believe, there are lots of hobbyist level miners mining RVN who DON’T CARE ABOUT PRICE. I should know, I’m one of them. If you have been in the crypto space since before Etherium you understand that the network and the community is what gives any coin its value (just look at Dogecoin FFS). Mining BTC in the early days was stupid. Buying a butterfly labs ASIC was stupid (trust me, 9 month shipping delay was “fast” shipping). Buying a big bag of BTC on Mt. Gox, moving them to cold storage, and HODLING was smart... BUT, if everyone had done that and no one mined at a loss there would be no BTC value today.

When you can’t figure out why anyone would lose money on mining RVN at home do yourself a favor:
1) go to Coin Market Cap
2) in the top left drop down select “cryptocurrencies” and select “filter non-mineable”
3) click on “Volume (24h)” and sort in descending order: RVN is a top 20 coin NOW
4) consider that in 3 more years its market cap will be 3 times higher by the simple fact that there will be 10 billion RVN in circulation

RVN is trading today at $0.013 USD. It has well over $1 Million per day in trade volume (which is way more than about 40 coins on the top 100 coin list). It could EASILY get to $0.10 in the next 3 years, but ONLY IF it has a strong network and community.

I want $0.10 to happen. It needs everyone’s help to get there, and every hash helps.

We mine because we are Ravencoin.

It can be called invisible support of potential what made possible for Ravencoin to reach at big exchanges where others projects can't reach in spite of collecting millions of dollars. Somewhere at some level involvement of important people can't be undermined. It's current performance is also very good in comparison to many other markets.

Yes, I have noticed this too. It looks like there is a lot of people very optimistic about this coin.

Notice that ravencoin would be listings in binance, it looks like this coin has a special meaning, because not all the coins could enter inside. I believe that these coins will bring a profit for its owners.

How can we get Ravencoin in this?

https://news.bitcoin.com/coinbase-opens-the-door-to-more-than-30-new-cryptocurrencies/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

Ravencoin Miner: The fastest open source miner for Ravencoin

https://github.com/Ravencoin-Miner/Ravencoin/releases

So it is and everyone understands this. In the end, the newest and most efficient equipment that runs on the cheapest electricity will give the greatest profit. It should be understood that the complexity of the network does not change every minute but once in a while.
And we need to plan our expenses roughly to succeed and stay afloat.

Sure, I agree. All that Im saying is that it is not the best time to enter the market, so my guess is that that "authority" has assumed the risk to mine even if eventually they go "on loss".

You are totally right in the terms of ROI, but if we suppose that someone already have hardware, GPU's are very close to switch off and FPGA's are not even close. And when GPU's switch off, difficulty will drop and FPGA's gonna make even more coins.
Most efficient hardware wins at the end.

Yes BUT you can buy a 1080Ti for 800$ while a FPGA costs about 4000$. That's he math. I dont see so clear they are going to ROI the FPGAs specially in this mega-crypto-bear market that could geat even worse easily.

I would like to see that math. FPGA has probably ~10x better hash than GPU and use about same electricity.
So, if someone mine with 6x 1080ti , he pay ~1.20 usd per day for electricity and earn ~4 usd in RVN. His profit is ~2.80 USD daily.
With 6x FPGA he pay same 1.20 usd of electricity and earn ~40 usd in RVN. His profit is ~38.8 usd daily.
With 10x better efficiency, you can have 14x bigger profit. Even if FPGA's use 5x more electricity, they are easy winners. In any possible calculation, FPGA mine with lot of profit.

Yes, BUT I have been doing some math and I dont believe that nowadays FPGA are making so much money. They are makein, sure, but not that much. RVN is not as decentralized as we could believe (which I believe could be good).

Yes, this is correct.
Anyway what I mean is that this "authority" is willing to mine EVENTUALLY on losses. I have been doing some math and I dont believe that nowadays FPGA are making so much money. They are makein, sure, but not that much.

Exactly, but since someone already bought those FPGA's and paid coder to make mining software for that model of FPGA, it is obvious that he's gonna mine the sh*t out of the RVN with them. He will mine with profit even if price fall to 100 satoshi and all GPU miners will switch off at 300 (or maybe 200 if some of GPU miners have cheap electricity).
In bull market largest hashpower counts, but in bear market better efficiency wins!