Topic: Casinocoin mining. (Read 828 times)
Those numbers are totally wrong - investigate and recalculate.
Some pool fo CSC?
Hummmm, thanks for the indepth analysis of my post.
Since the CSC is pretty low in its terms, I think even due to factors, I get a huge amount of money eeeven if I get 25% of its amount.
If I get this correct, I will invest more and more on other coins like 42, Spots, Earthcoin, etc.
You are right it'll cause centralized mining and I'll hold 90% of the coin's mining power. Then should I distribute the hash over other coins?
Btw, there are 3 exchanges.
51% attack, look, I'm not dishonest and I will not destroy the coin at my will, I will manipulate nothing and will not do unless I am drunk.
Difficulty thingy, well, if I see it's profitable, I know a place where I can get free Wind electricity for a one-time fee (excluding maintenance) and move my servers there. I'll invest more and more in this and other coins, thus even if stuff falls, it'll just be ok)
Since the CSC is pretty low in its terms, I think even due to factors, I get a huge amount of money eeeven if I get 25% of its amount.
If I get this correct, I will invest more and more on other coins like 42, Spots, Earthcoin, etc.
You are right it'll cause centralized mining and I'll hold 90% of the coin's mining power. Then should I distribute the hash over other coins?
Btw, there are 3 exchanges.
51% attack, look, I'm not dishonest and I will not destroy the coin at my will, I will manipulate nothing and will not do unless I am drunk.
Difficulty thingy, well, if I see it's profitable, I know a place where I can get free Wind electricity for a one-time fee (excluding maintenance) and move my servers there. I'll invest more and more in this and other coins, thus even if stuff falls, it'll just be ok)
Just some points to think about, you need to decide yourself if you're willing to take the risk or not.
- Currently there is only 1 exchange for CSC with volume. If you do some research you will notice that most users can't withdraw their funds from this exchange.
- Are you familiar with the story of CSC, why the price increased so much? What about the risk of just a longer pump and dump, price could go near zero from one day to the next
- Sites like coinwarz can only give a raw approximation - for example it can't calculate factors like pool luck, competition (more miners, Multipools,...), lower price
- You need profit = you will need to sell your coins. The more you sell, the more the price will go down cause traders/investors/speculators belive it's the dump after the pump and will sell, too. Are there enough buyers to keep the price stable?
- Putting 77 GH/s on this coin will cause the difficulty will increase more than significantly. It's not just: As much hasrate as possible will make me unlimited coin. Each coin has a defined number of new coins that will be distributed per day/month. The difficulty will adapt to the total hashrate and make sure, not more coins will be generated = you will find less blocks and won't receive the calculated coins per day/month/year.
- Search on google for "51% attack", you will hurt the coin and be a security risk
- It will cause centralized mining as you would have the majority of the total hashrate. That's not the original idea of decentralization. Imagine 1 chinese pool would provide 99,9% of the total BTC hashrate.
Edit: I just noticed you talked about the yearly profit. One year is a very,very long time in Crypto. So many things can happen in a year. The the price of many PoW coins, compare their price from April and December 2015. You will see what I mean.
- Currently there is only 1 exchange for CSC with volume. If you do some research you will notice that most users can't withdraw their funds from this exchange.
- Are you familiar with the story of CSC, why the price increased so much? What about the risk of just a longer pump and dump, price could go near zero from one day to the next
- Sites like coinwarz can only give a raw approximation - for example it can't calculate factors like pool luck, competition (more miners, Multipools,...), lower price
- You need profit = you will need to sell your coins. The more you sell, the more the price will go down cause traders/investors/speculators belive it's the dump after the pump and will sell, too. Are there enough buyers to keep the price stable?
- Putting 77 GH/s on this coin will cause the difficulty will increase more than significantly. It's not just: As much hasrate as possible will make me unlimited coin. Each coin has a defined number of new coins that will be distributed per day/month. The difficulty will adapt to the total hashrate and make sure, not more coins will be generated = you will find less blocks and won't receive the calculated coins per day/month/year.
- Search on google for "51% attack", you will hurt the coin and be a security risk
- It will cause centralized mining as you would have the majority of the total hashrate. That's not the original idea of decentralization. Imagine 1 chinese pool would provide 99,9% of the total BTC hashrate.
Edit: I just noticed you talked about the yearly profit. One year is a very,very long time in Crypto. So many things can happen in a year. The the price of many PoW coins, compare their price from April and December 2015. You will see what I mean.
I'm just learning about mining Casinocoin and can invest a lot of money when I have it.
Well, what if I invest 3 crores of Indian rupees.
At current Zeusminer rates, assuming 150$ as shipping and customs (which is higher than eveeeerr possible).
I'll have a lot of hashing power about 77400000.00 KH of Scrypt mining power.
It will result in 3,506,949.17 US$ made annually according to http://www.coinwarz.com/calculators/casinocoin-mining-calculator/?h=77400000.00&p=258000.00&pc=0.07&pf=2.00&d=46.28739806&r=10.00000000&er=0.00006680&btcer=456&hc=0.00
Is this really true? Even if it gives 50% of hashing power or the approximation is hugeeeely high, 50% of result is actually given, it will br a huge sum.
I'm just amazed.
Tell me what I should do, really invest it or not?
Well, what if I invest 3 crores of Indian rupees.
At current Zeusminer rates, assuming 150$ as shipping and customs (which is higher than eveeeerr possible).
I'll have a lot of hashing power about 77400000.00 KH of Scrypt mining power.
It will result in 3,506,949.17 US$ made annually according to http://www.coinwarz.com/calculators/casinocoin-mining-calculator/?h=77400000.00&p=258000.00&pc=0.07&pf=2.00&d=46.28739806&r=10.00000000&er=0.00006680&btcer=456&hc=0.00
Is this really true? Even if it gives 50% of hashing power or the approximation is hugeeeely high, 50% of result is actually given, it will br a huge sum.
I'm just amazed.
Tell me what I should do, really invest it or not?
Jump to: