I'm actually rather enjoying what's happening at the moment, there's 3 coins a day being released and the big-rigs are scrambling to jump on everyone, but only 3-6 of the 100 released in the next fortnight will go big.
So it's actually spreading out the miners so the average single GPU miner has a chance. Just wait for a coins release, let the big rigs have their fun and then start mining when they all leave to chase the next new coin and the difficult dives to something more manageable.
You just need to be the smart miners who mine the right coins. And to be honest i'm very doubtful any of these memecoins are going to last more than 2 months. Except doge... and maybe catcoin.
Topic: I think mining is slowly oversaturated (Read 2333 times)
No one would miss the next "doge" "eac" "quark" "ltc" noob not near to go away...
Another facepalm topic. Yes mining is oversaturated, AMD producing high amount of GPUs, ASIC prototype farm at every corner and miners jumping to new coin faster than in one second.
There are still many projects with good potential, but nobody will tell it to you, of course. Look "search" button, spend hours by reading forums and with analyzing and then tell something. Yes easy going noobs will probably still mine litecoin (in better case) or sell GPU because "its not profitable".
There are still many projects with good potential, but nobody will tell it to you, of course. Look "search" button, spend hours by reading forums and with analyzing and then tell something. Yes easy going noobs will probably still mine litecoin (in better case) or sell GPU because "its not profitable".
It's ridiculous. A coin is launched, difficulty jumps to 5,000 in 10 minutes. This is getting to the point where only the big whales can mine something. Someone should make a coin accessible for the less hi-tech people. It's really no fun anymore.
I would make a coin that rigs cannot extramine.
I would make a coin that rigs cannot extramine.
mining is saturated with bullshit devs. <<-- correction
^agree and to be honest most of the new cash comes from the noobs, when noobs won't pump anymore on every copycat there will be a problem. quality coins could really make a difference.
this is serious business....its not supposed to be fun. people built big mining farms, putting up their own money, taking on risk. Let the whales swim free, in the end they make networks stronger.
what network stronger? they mine the crap out of them then dump and move to the next....repeat repeat the only people who want new coins to keep being created and exchange listed are flash miners.
Different coin, same formula. It'll keep happening until it stops becoming profitable.
I really dont understand how so many people can be so angry about how the difficulty on coins skyrockets.
The fact is that the way these coins are being launched is a little bit flawed in my opinion.
Coins started with super low difficulties before and it made sense because the total hash power out on the internet was very small compared to what it is now since everyone has gone out and bought equipment, myself included.
With the equipment that is now out their ready to be added to a coin in an instant the difficulties should be starting at higher values.
That aside, basically I see it like this:
1. If you spend $300 on a card that gives 650 khash and the total equipment out their mining at that point is 100Ghash then you will make X
2. If you spend the same amount and the total equipment out there available has a mining speed of 400Ghash you will make X/4
(this would be on average as hash power is spread through so many coins, the fact is the average will not change)
At the end of the day you are still making the money you would have been, you are just not making the exponential gains that the higher hash power people have.
**If I missed something let me know**
The fact is that the way these coins are being launched is a little bit flawed in my opinion.
Coins started with super low difficulties before and it made sense because the total hash power out on the internet was very small compared to what it is now since everyone has gone out and bought equipment, myself included.
With the equipment that is now out their ready to be added to a coin in an instant the difficulties should be starting at higher values.
That aside, basically I see it like this:
1. If you spend $300 on a card that gives 650 khash and the total equipment out their mining at that point is 100Ghash then you will make X
2. If you spend the same amount and the total equipment out there available has a mining speed of 400Ghash you will make X/4
(this would be on average as hash power is spread through so many coins, the fact is the average will not change)
At the end of the day you are still making the money you would have been, you are just not making the exponential gains that the higher hash power people have.
**If I missed something let me know**
this is serious business....its not supposed to be fun. people built big mining farms, putting up their own money, taking on risk. Let the whales swim free, in the end they make networks stronger.
what network stronger? they mine the crap out of them then dump and move to the next....repeat repeat the only people who want new coins to keep being created and exchange listed are flash miners.
this is serious business....its not supposed to be fun. people built big mining farms, putting up their own money, taking on risk. Let the whales swim free, in the end they make networks stronger.
+1
+2
OP smells like socialism to me. Equality of opportunity, which is what mining offers, is not the same as equality of outcome. In fact I can think of very few business opportunities where the small guy with 0.01% of the production capacity for a given coin will, statistical variance aside, receive proportionately the same reward as the big guy with 5% of the production capacity. It's the ultimate free market where those who take the big risks receive big rewards, and those who risk less receive a commensurately lower reward. But it's always proportional.
no, don't take it this way. it's just that difficulty has gone so high that if bitcoin was released last month it would have reached the same difficulty it has today. difficulty is still good concept, but not so faaaaaaaast
I think mining is ridiculous. Why do we need to "mine" to get free currency. Why can't we work??
How dare you!
Mining is work. Like using earthmoving equipment to dig ditches, it just happens to be somewhat equipment-oriented work.
-MarkM-
-MarkM-
I think mining is ridiculous. Why do we need to "mine" to get free currency. Why can't we work??
It's ridiculous. A coin is launched, difficulty jumps to 5,000 in 10 minutes. This is getting to the point where only the big whales can mine something. Someone should make a coin accessible for the less hi-tech people. It's really no fun anymore.
I would make a coin that rigs cannot extramine.
I would make a coin that rigs cannot extramine.
So it sounds like you want to put limits or set controls on the crypto "free" market ?
Either fish or cut bait........
this is serious business....its not supposed to be fun. people built big mining farms, putting up their own money, taking on risk. Let the whales swim free, in the end they make networks stronger.
+1
+2
OP smells like socialism to me. Equality of opportunity, which is what mining offers, is not the same as equality of outcome. In fact I can think of very few business opportunities where the small guy with 0.01% of the production capacity for a given coin will, statistical variance aside, receive proportionately the same reward as the big guy with 5% of the production capacity. It's the ultimate free market where those who take the big risks receive big rewards, and those who risk less receive a commensurately lower reward. But it's always proportional.
Scripting MUD-characters is all about code branching, making decisions based on what is going on around the character.
Thus is it not at all suited to GPUs.
But even a little Raspberry can run a surprising number of workers.
But also, trying to have a botnet run thousands or millions of workers is likely to be a horrible mess, demanding way the heck more time just to keep them all on track than the botnet owner is likely to think worthwhile. Basically they'd have to hire gold-farmers to supervise the "workers", and at that point the botnet is not needed, since each of the hired gold-farmers would have a computer already; the limit on how many workers it can run is more to do with the human who is supervising it than with the power of the computer or the number of computers.
(Because unlike World of Warcraft, a MUD uses very little bandwidth and computer-power, so you can run way the heck more MUD-characters per machine than you could World of Warcraft characters; and the triggers the scripts act on are text, they don't have to do image-recognition to figure out what they are "seeing".)
-MarkM-
Thus is it not at all suited to GPUs.
But even a little Raspberry can run a surprising number of workers.
But also, trying to have a botnet run thousands or millions of workers is likely to be a horrible mess, demanding way the heck more time just to keep them all on track than the botnet owner is likely to think worthwhile. Basically they'd have to hire gold-farmers to supervise the "workers", and at that point the botnet is not needed, since each of the hired gold-farmers would have a computer already; the limit on how many workers it can run is more to do with the human who is supervising it than with the power of the computer or the number of computers.
(Because unlike World of Warcraft, a MUD uses very little bandwidth and computer-power, so you can run way the heck more MUD-characters per machine than you could World of Warcraft characters; and the triggers the scripts act on are text, they don't have to do image-recognition to figure out what they are "seeing".)
-MarkM-
i'm sure cryptocurrency will change a lot in the coming months. maybe this niche (which could get real big) will also be covered. hopefully.
got nothing against people who invested money... i was thinking about the poorer folks as well
That is why we have CPU only coins.
Good luck doing that with the form of CPU mining described at http://www.devtome.com/doku.php?id=cpu_mining
-MarkM-
CPU coins have no real advantage for average user.
The current bunch do not, true.
But the people who most need "help" are those with no jobs thus no ability to buy even little block-eruptors to mine with; what such people do have though is lots of time.
So what they need is something that they can scale up a whole lot if they have lots of time, but that botnet owners and rich folks probably will not want to spare the time to mess around with.
Thus the http://www.devtome.com/doku.php?id=cpu_mining concept...
-MarkM-
got nothing against people who invested money... i was thinking about the poorer folks as well
That is why we have CPU only coins.
Good luck doing that with the form of CPU mining described at http://www.devtome.com/doku.php?id=cpu_mining
-MarkM-
I recently bought a Rasberry Pi as part of my journey of discovery into mining. Have barely used it. I should really learn how to mine on it. It's all up and running ready to go.
got nothing against people who invested money... i was thinking about the poorer folks as well
That is why we have CPU only coins.
Botnets have an advantage when CPU mining.
CPU coins have no real advantage for average user.
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