Topic: [ANN][AUTO-SWITCH] Profit-switch auto-exchange pool: CleverMining.com - page 148. (Read 554384 times)
March 24, 2014, 11:26:33 PM
So how much of Wafflepool's previous hashing power will CM retain after the DDOS at WP?
March 24, 2014, 09:17:10 PM
Edit: bah nevermind, some people have started to actually figure out the hack stuff, just missed it in all the FUD, these hacked pools claims have run rampant, so many people speak who have no idea how the internet works.
March 24, 2014, 08:55:25 PM
Can anyone confirm that if profitability goes <100%LTC, then even though it says eg. 87%, then we ARE in fact just mining LTC at 100%?
Wow, the idiocy is amazing! Everyone! If you want to know which coin we are mining, just look at the "difficulty" in cgminer. Its no big secret.
March 24, 2014, 07:54:15 PM
Can anyone confirm that if profitability goes <100%LTC, then even though it says eg. 87%, then we ARE in fact just mining LTC at 100%?
March 24, 2014, 06:22:30 PM
Anyone hijacked WITHOUT using CGwatcher or CGremote?
Me! I am using BAMT and nothing more... got Hijacked to this bad IP pool.. I don't have an account on Waffle and haven't used my MultiPool.in account in ages.
March 24, 2014, 04:48:51 PM
I am contributing to a public discussion. I did not even notice your user name, I am simply replying to an above post, which I see is addressed to the entire forum and not a PM.
My apologies if it caused you grief.
My apologies if it caused you grief.
March 24, 2014, 04:34:34 PM
You might be right, you might be wrong. Who am I to say? I am not a time traveler from the future. Many of us like to gamble.
I sold half of my video cards at the peak of the market just about two months ago, intending to buy them back when prices dropped.
And even though that strategy worked well for me, it was still a gamble. I have not yet bought them back and now I am not sure I will.
But the other half are still mining away, and after selling the others at near 100% profit, this half has cost me damn near nothing to own.
If only electricity were free too.
Your electricity is in your bitcoin. It doesn't evaporate.
Gridseed does not solve the issue, by charging you $200 bucks or more above and beyond for the same KH/s. That $200 premium can not be cashed out with bitcoin. You need to wait, and let the system pay itself off, that will take a while. (i know in the long run its smarter/ but there is a curve where the two lines intersect, and at this price point, that intersection is far far away)
Also like I said in the previous message, there are technologies that will help you get that power cheaper then what your power company is charging you. You did not have to wait for gridseed to employ those, if you are mining smartly, you are thinking of reducing your costs on both ends, and power generation is one of them. If I can pay off a turbine or some panels with this tech, than I am gaining an asset from mining indirectly. Also, I use the heat of my miners in the winter to heat my greenhouse. So I make money that way as well.
March 24, 2014, 04:28:38 PM
...In addition, that hardware is going to be worth only a small fraction of what he paid for it initially by the time it becomes obsolete.
All of our hardware, GPUs included, will be worth only a small fraction of what we initially paid for it by the time it becomes obsolete.
How much do you really believe your video cards will fetch on ebay when they are lost within thousands upon thousands of other video cards just like them for sale by former miners just like you? Have the recent events in the scrypt mining world taught us nothing about the economic laws of supply and demand and how markets function?
It must be said though, this isn't completely true. Look back almost exactly 1 year. ASICs were just hitting the BTC world, and everyone claimed the same scenario. Lots of people closed out their GPU rigs and sold them, but the market didn't "flood".
Also you need to factor in resale because it's legit in recouping costs. I bought 25 of the little 1st gen 333Mh USB miners in late Aug for about $13-$15 each. They happily mined away making me (some) BTC through the spike in Dec, when I sold them for $45-$55 each.
Made a profit and they made me money from mining. Even if I had waited, and held them until now I could fetch around $13 each still.
I've got cards that have been mining hard for over a year, they are starting to show their age. I sell them on eBay, saying I mined on them, and people are still willing to pay 75-90% of what I paid. Each 7950 I sell fetches around $350 on eBay and has easily made me $1,000 in mining profit over the last 18 months.
You might be right, you might be wrong. Who am I to say? I am not a time traveler from the future. Many of us like to gamble.
I sold half of my video cards at the peak of the market just about two months ago, intending to buy them back when prices dropped.
And even though that strategy worked well for me, it was still a gamble. I have not yet bought them back and now I am not sure I will.
But the other half are still mining away, and after selling the others at near 100% profit, this half has cost me damn near nothing to own.
If only electricity were free too.
Though you do need to check ebay for the current selling price of 7950's.
March 24, 2014, 04:24:46 PM
It's not the power that is the problem with the gridseed, they got that sorted out, its the price.
Instead of the power company juicing you, you get to pay up front to gridseed (AMD:180/450=40 cents a Kh, vs gridseed .$1 or 60cents, if buy in bulk like the user above).
The thing about paying for power, is that you get to keep your power in bitcoins. Hence, if my power usage of running my cards is 25%, that does not disappear, its stored in my bitcoins. Rather then me buying bitcoins at the exchange, I buy power from the power company and make my own currency. So in the future, I can salvage my power bill because ALL power used is sitting in my bitcoin.
The above example, starts to diminish with gridseed, but because of the steep up front costs, thats not going to happen for a long long time.
Also, those of us who have invested in renewable energy, are not selling it back to the grid at the bulk rate, we sell it at the going rate and get it in bitcoin. (think about that)
Believe it or not the technology to lower your power costs was out before bitcoin/gridseed, both of these strategies have to be employed by those mining for truly effective returns. Get solar panels, get wind turbines, let your mining pay those technologies off.
Instead of the power company juicing you, you get to pay up front to gridseed (AMD:180/450=40 cents a Kh, vs gridseed .$1 or 60cents, if buy in bulk like the user above).
The thing about paying for power, is that you get to keep your power in bitcoins. Hence, if my power usage of running my cards is 25%, that does not disappear, its stored in my bitcoins. Rather then me buying bitcoins at the exchange, I buy power from the power company and make my own currency. So in the future, I can salvage my power bill because ALL power used is sitting in my bitcoin.
The above example, starts to diminish with gridseed, but because of the steep up front costs, thats not going to happen for a long long time.
Also, those of us who have invested in renewable energy, are not selling it back to the grid at the bulk rate, we sell it at the going rate and get it in bitcoin. (think about that)
Believe it or not the technology to lower your power costs was out before bitcoin/gridseed, both of these strategies have to be employed by those mining for truly effective returns. Get solar panels, get wind turbines, let your mining pay those technologies off.
March 24, 2014, 04:18:37 PM
...In addition, that hardware is going to be worth only a small fraction of what he paid for it initially by the time it becomes obsolete.
All of our hardware, GPUs included, will be worth only a small fraction of what we initially paid for it by the time it becomes obsolete.
How much do you really believe your video cards will fetch on ebay when they are lost within thousands upon thousands of other video cards just like them for sale by former miners just like you? Have the recent events in the scrypt mining world taught us nothing about the economic laws of supply and demand and how markets function?
It must be said though, this isn't completely true. Look back almost exactly 1 year. ASICs were just hitting the BTC world, and everyone claimed the same scenario. Lots of people closed out their GPU rigs and sold them, but the market didn't "flood".
Also you need to factor in resale because it's legit in recouping costs. I bought 25 of the little 1st gen 333Mh USB miners in late Aug for about $13-$15 each. They happily mined away making me (some) BTC through the spike in Dec, when I sold them for $45-$55 each.
Made a profit and they made me money from mining. Even if I had waited, and held them until now I could fetch around $13 each still.
I've got cards that have been mining hard for over a year, they are starting to show their age. I sell them on eBay, saying I mined on them, and people are still willing to pay 75-90% of what I paid. Each 7950 I sell fetches around $350 on eBay and has easily made me $1,000 in mining profit over the last 18 months.
March 24, 2014, 04:10:29 PM
...In addition, that hardware is going to be worth only a small fraction of what he paid for it initially by the time it becomes obsolete.
All of our hardware, GPUs included, will be worth only a small fraction of what we initially paid for it by the time it becomes obsolete.
How much do you really believe your video cards will fetch on ebay when they are lost within thousands and thousands of other video cards just like hem for sale by former miners just like you? Have the recent events in the scrypt mining world taught us nothing about the economic laws of supply and demand and how markets function?
A month ago I sold a 6870 I bought over 2 years ago for 25% more than I paid for it in early 2012. In the future, there will always be people looking for video cards at lower prices for gaming. There will never be people wanting to scrypt mine with obsolete equipment that doesn't provide any ROI. So to answer your question, getting 50% of what I paid back is much better than 0 to 10%. Not to mention, I use my 280X for gaming as well, and only have one other card I got practically free. While your argument holds truth to a certain extent, that extent is substantially lower than you are probably aware.
With regards to the residual value of your hardware, your optimism will only be tempered by time.
March 24, 2014, 04:05:51 PM
Honestly, I can make PC's, for family and friends and get 80% of my money. I like having the extra boards, I bought good chips knowing I would resell them later. I did not just get something adequate for the job at hand.
I can fold my setup right now for close to 95% of my cost, if these cards tumble in value, they only represent 80% of the hardware investment, so if they half, I still am looking at 60% and that is the worst possible outcome I can think of.
As for the grid miner, I am fairly sure no one I know will need one once its of no value to me.
I can fold my setup right now for close to 95% of my cost, if these cards tumble in value, they only represent 80% of the hardware investment, so if they half, I still am looking at 60% and that is the worst possible outcome I can think of.
As for the grid miner, I am fairly sure no one I know will need one once its of no value to me.
March 24, 2014, 04:05:37 PM
...In addition, that hardware is going to be worth only a small fraction of what he paid for it initially by the time it becomes obsolete.
All of our hardware, GPUs included, will be worth only a small fraction of what we initially paid for it by the time it becomes obsolete.
How much do you really believe your video cards will fetch on ebay when they are lost within thousands and thousands of other video cards just like hem for sale by former miners just like you? Have the recent events in the scrypt mining world taught us nothing about the economic laws of supply and demand and how markets function?
A month ago I sold a 6870 I bought over 2 years ago for 25% more than I paid for it in early 2012. In the future, there will always be people looking for video cards at lower prices for gaming. There will never be people wanting to scrypt mine with obsolete equipment that doesn't provide any ROI. So to answer your question, when everyone begins dumping their AMD gpu's, getting 50% of what I paid back is much better than 0 to 10%. Not to mention, I use my 280X for gaming as well, and only have one other card I got practically free. While your argument holds truth to a certain extent, that extent is substantially lower than you are probably aware.
March 24, 2014, 03:59:38 PM
...In addition, that hardware is going to be worth only a small fraction of what he paid for it initially by the time it becomes obsolete.
All of our hardware, GPUs included, will be worth only a small fraction of what we initially paid for it by the time it becomes obsolete.
How much do you really believe your video cards will fetch on ebay when they are lost within thousands upon thousands of other video cards just like them for sale by former miners just like you? Have the recent events in the scrypt mining world taught us nothing about the economic laws of supply and demand and how markets function?
March 24, 2014, 03:55:54 PM
So far it still does not look like this company can beat AMD. Their $300 offering is only able to do 330kh/s, the power consumption is nice, but at the price, it will take a long time to even out with a $180 at 450kh/s.
All this hype and this unit still does not seem to compete with the current GPU's, and don't forget that AMD and NVIDIA have new ones in the works as well.
I also like the fact that I can spin off the hardware and make computers for family and friends if all this fails. Not sure what I will be able to do with a gridminer.
All this hype and this unit still does not seem to compete with the current GPU's, and don't forget that AMD and NVIDIA have new ones in the works as well.
I also like the fact that I can spin off the hardware and make computers for family and friends if all this fails. Not sure what I will be able to do with a gridminer.
March 24, 2014, 03:51:51 PM
Thanks for the info. Looking at them right now.
$1Kh, that's a very steep price. I imagine competition will erode that eventually.
If the user who is running 32 of these is only getting 10Mh that means their performance leans towards the lower end of the scale. Warranty is only for 30 days, I wonder what the life is of the chip.
With this sort of pricing, I would not be throwing out the GPU just yet. I keep hearing how these things are going to murder the game, but the above offering doesn't even compete with current GPUs. (which will hold partial value even when mining is dead)
$1Kh, that's a very steep price. I imagine competition will erode that eventually.
If the user who is running 32 of these is only getting 10Mh that means their performance leans towards the lower end of the scale. Warranty is only for 30 days, I wonder what the life is of the chip.
With this sort of pricing, I would not be throwing out the GPU just yet. I keep hearing how these things are going to murder the game, but the above offering doesn't even compete with current GPUs. (which will hold partial value even when mining is dead)
Not to mention, at current Litecoin profitability which CM is hovering around 100% of, it would take over 7 months just to break even at a cost of $6,000 and assuming a 0% pool fee, an electricity cost of $0.10/kwh and no increase in BTC value. Of course, that time is going to increase greatly between now and then due to difficulty continuing to rise substantially.
Honestly, I'd be surprised if this guy even broke even at any point in the future. The current cost and performance of gridseeds available now is financially and quite literally just not worth the investment. In addition, that hardware is going to be worth only a small fraction of what he paid for it initially by the time it becomes obsolete.
Calculations done here:
http://www.coinwarz.com/calculators/litecoin-mining-calculator/?h=10000.00&p=270&pc=0.10&pf=0.00&d=5835.41677649&r=50.00000000&er=0.02785000&btcer=577.24000000&hc=6000
March 24, 2014, 03:45:49 PM
People already own gridseed units and are currently mining with them at these power consumption levels.
I was under the impression this is only being done with non-scrypt coins.
Currently running 32 gridseeds, total power usage is 270 Watt. 10 Mh/s works fine.
There you go -- there's an owner of them. 32 gridseeds would run about US$6-7K, right?
I paid around that, the current average for such a set would be 6000 USD.
They're annoying to keep running since it's "a new product" and not much has been invented/cristalized though.
are you using raspberry pi controller running linux?
ATM probably 4 aren't hashing because of crappy powerplugs I had to get lastminute. Once I return from travels I'll have a complete set of higher quality cables.
All are on two raspberry Pi's with the scripta image plus some mods. I should be able to get 12 without a sweat once I'm back and everything is running smoothly.
Thanks for answering some of my questions. I hope you do well with them.
You're killing scrypt mining by the way... Just kidding! Competition and whatnot, it's the way the world works.
March 24, 2014, 03:42:26 PM
People already own gridseed units and are currently mining with them at these power consumption levels.
I was under the impression this is only being done with non-scrypt coins.
Currently running 32 gridseeds, total power usage is 270 Watt. 10 Mh/s works fine.
There you go -- there's an owner of them. 32 gridseeds would run about US$6-7K, right?
I paid around that, the current average for such a set would be 6000 USD.
They're annoying to keep running since it's "a new product" and not much has been invented/cristalized though.
are you using raspberry pi controller running linux?
ATM probably 4 aren't hashing because of crappy powerplugs I had to get lastminute. Once I return from travels I'll have a complete set of higher quality cables.
All are on two raspberry Pi's with the scripta image plus some mods. I should be able to get 12 without a sweat once I'm back and everything is running smoothly.
March 24, 2014, 03:20:45 PM
Thanks for the info. Looking at them right now.
$1Kh, that's a very steep price. I imagine competition will erode that eventually.
If the user who is running 32 of these is only getting 10Mh that means their performance leans towards the lower end of the scale. Warranty is only for 30 days, I wonder what the life is of the chip.
With this sort of pricing, I would not be throwing out the GPU just yet. I keep hearing how these things are going to murder the game, but the above offering doesn't even compete with current GPUs. (which will hold partial value even when mining is dead)
$1Kh, that's a very steep price. I imagine competition will erode that eventually.
If the user who is running 32 of these is only getting 10Mh that means their performance leans towards the lower end of the scale. Warranty is only for 30 days, I wonder what the life is of the chip.
With this sort of pricing, I would not be throwing out the GPU just yet. I keep hearing how these things are going to murder the game, but the above offering doesn't even compete with current GPUs. (which will hold partial value even when mining is dead)
March 24, 2014, 03:18:58 PM
People already own gridseed units and are currently mining with them at these power consumption levels.
I was under the impression this is only being done with non-scrypt coins.
Currently running 32 gridseeds, total power usage is 270 Watt. 10 Mh/s works fine.
There you go -- there's an owner of them. 32 gridseeds would run about US$6-7K, right?
I paid around that, the current average for such a set would be 6000 USD.
They're annoying to keep running since it's "a new product" and not much has been invented/cristalized though.
are you using raspberry pi controller running linux?
Jump to: