Is there any SHA256/SHA512 coin that is worth mining (GPU/Nvidia)?

Sigmoid

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Quote from: Hotsauce on December 06, 2013, 08:35:22 AM

I really wonder what the implications of this would be, i'm sure they wouldn't think twice about doing it. Is there anything at all that can be done to prevent this?

Not much, apart from...
1. abandoning BTC in favor of a new currency specifically engineered to counteract this (Litecoin didn't do enough in this regard)
2. making BTC transaction fees a thing, and restoring profitability to small mining operations.

If you send BTC without a fee, you're killing BTC.

Gabi

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If you want to walk on water, get out of the boat

Quote from: fartbags on December 06, 2013, 05:41:08 AM

For example LTC uses a 1000x more secure hash than BTC

Uhm, no.

Sniperdude

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Quote from: Hotsauce on December 06, 2013, 08:35:22 AM

Quote from: Sniperdude on December 06, 2013, 07:56:36 AM

Quote from: sn0w on December 06, 2013, 07:41:59 AM

Quote from: Sniperdude on December 06, 2013, 07:26:18 AM

and seeing how the US government doesnt care about blowing money they could just as easily build super computers to mine scrypt coins as well.

What if US Government is already mining *coins?

with the supercomputers they have I am sure they are atleast looking into how to control it. If they mine all the coins themselves they control it.

I really wonder what the implications of this would be, i'm sure they wouldn't think twice about doing it. Is there anything at all that can be done to prevent this?

I doubt there is anything that could be done. if you have money and the will power to set up a mining rig you can take over the world!!!! *cue pinky and the brain theme song*

Hotsauce

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Quote from: Sniperdude on December 06, 2013, 07:56:36 AM

Quote from: sn0w on December 06, 2013, 07:41:59 AM

Quote from: Sniperdude on December 06, 2013, 07:26:18 AM

and seeing how the US government doesnt care about blowing money they could just as easily build super computers to mine scrypt coins as well.

What if US Government is already mining *coins?

with the supercomputers they have I am sure they are atleast looking into how to control it. If they mine all the coins themselves they control it.

I really wonder what the implications of this would be, i'm sure they wouldn't think twice about doing it. Is there anything at all that can be done to prevent this?

Sniperdude

newbie

Activity: 56

Merit: 0

Quote from: sn0w on December 06, 2013, 07:41:59 AM

Quote from: Sniperdude on December 06, 2013, 07:26:18 AM

and seeing how the US government doesnt care about blowing money they could just as easily build super computers to mine scrypt coins as well.

What if US Government is already mining *coins?

with the supercomputers they have I am sure they are atleast looking into how to control it. If they mine all the coins themselves they control it.

LiteCoinGuy

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In Satoshi I Trust

just mine Litecoin and you are fine.

sn0w

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I am the snowed one.

Quote from: Sniperdude on December 06, 2013, 07:26:18 AM

and seeing how the US government doesnt care about blowing money they could just as easily build super computers to mine scrypt coins as well.

What if US Government is already mining *coins?

Sniperdude

newbie

Activity: 56

Merit: 0

Quote from: fartbags on December 06, 2013, 07:09:23 AM

When I said more secure I meant it as in 6 years in the future ASICS will be mining in Thz and governments/whoever will be able to have Thz mining rigs all combined solving hashes at 1,000,000 GHz. I don't know very much about BTC but this kind of hashing power may be able to take over the network and they would control all coin activity.

If what I say is true than LTC would have a 6 year longer lifespan.

I am not really sure how hashing power effects the BTC network.

and seeing how the US government doesnt care about blowing money they could just as easily build super computers to mine scrypt coins as well.

fartbags

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When I said more secure I meant it as in 6 years in the future ASICS will be mining in Thz and governments/whoever will be able to have Thz mining rigs all combined solving hashes at 1,000,000 GHz. I don't know very much about BTC but this kind of hashing power may be able to take over the network and they would control all coin activity.

If what I say is true than LTC would have a 6 year longer lifespan.

I am not really sure how hashing power effects the BTC network.

co5hike

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Quote from: fartbags on December 06, 2013, 05:41:08 AM

For example LTC uses a 1000x more secure hash than BTC which makes a substantial improvement for the longevity of the coin.

You mean it takes 1000x longer to compute one hash, thus GPU Scrypt mining is in Kh/s while SHA256D mining is in Mh/s (about 1000x faster).

And Scrypt hash was not been studied well for vulnerabilities while SHA256 was

fartbags

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if you want to mine shit coins you can use this profitability calculator.

http://www.coinwarz.com/cryptocurrency/

fartbags

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LTC would be the safest choice. It's price should increase a lot over the next 3 years and then your profits will really start to show at that time. It might not look like your making much when you start but when the price goes up you will be mad you didn't mine more.

The other choice is to gamble and try to mine new coins with low difficulty. Be on the look out for the next good coin. Do not mine knock off coins just because the difficulty is low. There has to be substantial improvements to a coin or else the coin will probably just be worthless. For example LTC uses a 1000x more secure hash than BTC which makes a substantial improvement for the longevity of the coin. I also like ANONCOIN ANC because it keeps transaction anonymous which I would consider a great improvement over LTC.

You can also research the development team of a new coin. If a coin is being developed by 5 members who formally worked at google, thats a good choice. If some dude copied the LTC code and premined 10% of the coins, that's a bad coin.

What a lot of people are currently doing is mining the newest coin and then selling them all for LTC as soon as the coin hits an exchange 2 months after the coins release.

sn0w

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I am the snowed one.

Quote from: fartbags on December 06, 2013, 05:18:12 AM

no, mine scrypt with your GPUs.

So, which scrypt coin would be the most profitable to mine with GPU?

fartbags

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no, mine scrypt with your GPUs.

sn0w

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Activity: 67

Merit: 10

I am the snowed one.

Hi,

Do you know any SHA256/SHA512 coin that is worth mining using a GPU (Nvidia Geforce 650 x2) and cgminer?

Bitcoin is not very profitable without an ASIC miner and Feathercoin is scrypt-based.

-sn0w

Topic: Is there any SHA256/SHA512 coin that is worth mining (GPU/Nvidia)? (Read 2708 times)