Topic: Scrypt.CC | Scrypt Cloud Mining - page 526. (Read 750568 times)

Read again, I did both sets of computations.    Using the share values, scrypt.cc is still 1.7x better.   It isn't even close to equal.  

  04.26.2014
6.33101774 BTC 0.00415967 BTC

04.29.2014
1.23418776 BTC 0.00069807 BTC

Call it 3 days.

.00069807 BTC / share  / 65 KHS / share / 3 days = .00000357 BTC / KHS / day  <=========  THAT TOTATLY SUCKS

For those 3 days here are the real values from scrypt.cc.  (Just choose your days!)  I'm in Japan so I'm a day ahead most times.

4/25 .00000874
4/26 .00000634
4/27 .00000624
4/28 .00000620
4/29 .00000665

Even the worst day at scrypt.cc is much better than ScryptsMining.com.   620 / 357 = 1.74

You assumptions about how scrypt.cc will be impacted are pure speculation as none of us have a clue as to what will really happen.    However the Gridseed ASICs are real and coins moving away from pure scrypt is also real.   If you need further proof about what is going on, just look at how much money people are paying to lease rigs to mine X11.   https://bitcointalksearch.org/topic/discontinued-cryptoday-mining-revenue-stats-scrypt-scrypt-n-x11-x13-514242   Anyway ASIC companies will always be behind as coin algorithms are easier to change than creating an ASIC.  

That fact is you are pushing pure ASIC resellers and ASIC direct and claiming they are better than scrypt.cc because of the relative cost difference.  However the data shows a completely different story.    Besides that you do not correctly compute the cost of KHS at scrypt.cc, unlike the ASIC farms, the scrypt.cc KHS can be sold.   This actually makes the scrypt.cc KHS a lot cheaper.

dyask, you are still assuming that scryptsmining.com is paying dividends based on 900 mHz. On 4/26 they had sold 1,522 shares equal to 99 mHz. Each share is 65 kH/sec. My figures in my previous post are correct. Scryptsmining.com is roughly equal to scrypt.cc, use the service you feel comfortable with or spread the risk around using more than one. Leasing hardware is another option, as is taking control of your mining and doing it yourself by buying miners providing kH/sec at the best price and using a good multipool. Or do the switching yourself.

When mining difficulty increases as many scrypt ASICs come online from companies like KnCMiner and Fibonacci it will affect scrypt.cc just like any other hosted service. I think a service like scrypt.cc using GPUs is more vulnerable, we will see. Companies like Bliss Devices are also developing scrypt ASIC miners that are more efficient than any GPU and can also mine scrypt-N.

Some data showing what people have been earning per KHS per day.    I'm in Japan and end my day at 7pm, so my days may not be in alignment with yours.

Date	Amount in satoshi
4/23	1030
4/24	688
4/25	874
4/26	634
4/27	624
4/28	620
4/29	665

As you guys said, I will have a try .

For the record ... scrypt.cc has been mining scrypt-N.  I'm sure other's can backup this claim.  

Now let's check the math.  

http://scryptsmining.com/index.php/dividends
04.17.2014
0.94109154 BTC 0.00071403 BTC

04.26.2014
6.33101774 BTC 0.00415967 BTC

Calling it 9 days.  (probably more ...)  and they claim to have ~900 mhs, building to 1 ghs.

From the page ... That is where my 900 mhs came from.  
"Scryptsio Next dividends will be paid tomorrow. All hardware were volt modded, our cumulative hashpower is 890-915 Mh/s. 1 Gigahash target is near!"

6.33101774 BTC / 9 / days = 0.70344651 BTC / day.    This is for 900 mhs.

.70344651 BTC / day / 900000 KHS = .00000078 BTC / KHS / day
 
For srcypt.cc, we are paid out every ten minutes ... there is a lot of variance but I use 4.2 satoshi / KHS for a payout.   Most will agree that is on the low side of the payouts.

.000000042 BTC / KHS / payout * 144 payout / day =  .00000604 BTC / KHS / day

So there you have .00000604 / .00000078 = 7.7

Scrypt.cc is paying out 7.7x what ScryptsMining.com is paying.


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Prehaps they only have ~150 mhs sold of the 920 mhs they claiming.  

So most recent dividend per share ....

04.26.2014
6.33101774 BTC 0.00415967 BTC

04.29.2014
1.23418776 BTC 0.00069807 BTC

Call it 3 days.

.00069807 BTC / share  / 65 KHS / share / 3 days = .00000357 BTC / KHS / day    <== Much higher so most of the share weren't sold?

4.2 satoshi / KHS / payout is probably only a little low for the last 3 days.   ==>  .00000604 BTC / KHS / day

So now we are only looking at about 1.7x difference in scrypt.cc's favor.

======================================

Going with your share computations:

During the high period .00000711 BTC / KHS / day, will just forget about the claims on the landing page.  This assume that most shares have not sold.    

That time period covered a very high payout period where most payouts were double normal, but let's just go with 50%.   6.3 satoshi / payout.
(Look at my records this looks like a pretty reasonable number for that time period.

.000000063 btc / KHS / payout  * 144  payout / day = .00000907 btc / KHS / day.    
EDIT: This turns out to be high ... suchmoon data shows that .00000750 btc / KHS / day, or basically the same during this period.

However this is a hand waving comparison since I didn't keep that detailed of records.    In any case we still get scrypt.cc beating scryptsmining.com by a lot.   So I back down from my 7.7x claim and will go with your shares where scrypt.cc is only beating ScryptsMining.com by 1.7x.  

This can be further backed up by https://bitcointalksearch.org/topic/discontinued-cryptoday-mining-revenue-stats-scrypt-scrypt-n-x11-x13-514242   That show the scrypt.cc is easily beating the scrypt multipools, but it isn't doing as well as leasing hardware.  

I don't think they are switching just to scrypt-n.   It is just that I know they have been mining some scrypt-n coins, I don't know about the other algorithms. 

Why would they switch strictly to scrypt-n? They have stated they are ready to cover x11 scrypt-n scrypt-Jane and willing to work on more to be able to stay competitive. You have stated you don't trust them fine. Now you just seem to be advertising another site on scrypt.cc's thread.

Sorry, your sums are off. I do understand and I reject your premises. The last dividend paid by scryptsmining.com for the 9 days ending on 4/26 worked out to .0000071 btc/khs/day, 6% more than the current .00000654 btc/khs/day scrypts.cc is paying. One kh/s at scryptsmining.com costs .0008 btc compared to .00096480 btc at scrypts.cc, so cost per kH/sec is 16% less at scryptsmining.com while dividends are 6% more than scrypts.cc this week.

If scrypt.cc is using part of their GPU farm to mine scrypt-N coins I have seen no confirmation from ScryptCC. You seem to infer that when scrypt ASICs start shipping in quantity this summer any scrypt multipool mining will become less profitable and scrypt.cc will prosper because they will switch to strictly mining scrypt-N coins, which is disingenuous at best. My bets are still on scrypt mining using a solid multipool buying hardware with the lowest cost per kH/sec.

Wow you really don't understand.   Farm$shares, GAW Miners and Scryptsmining.com are all only scrypt.   Scrypt is going to be under a lot of pressure form ASICs.   The low price is reflecting the low future earnings.   Scrypt.cc isn't ASIC and isn't limited to scrypt.   It is a bet that the scypt ASCIs will be left with only a few very high difficulty coins.  

With scryptsmining.com they have a dividend table of what they paid, http://scryptsmining.com/index.php/dividends
Looking at their best payout 6.33 BTC (900 mhs, 9 days) or .00000078 BTC / KHS / Day.    Scrypts.cc is currently paying around .00000604 BTC / KHS / Day.     That is 7.7x the rate of scryptsmining.com.    I guess cheapest isn't always the best.

I reposted with recent figures from the listed services at current bitcoin prices. I do my homework and scrypt.cc is not on my short list just for that reason. Sorry if I offended any fanboys, but the cheapest per kH/sec usually is the best.

If you can wait a month for delivery you can buy a Zeusminer Blizzard 1.2 mHz/sec USB scrypt miner for $199 and point it at the litecoin or multipool of your choice and take control of your own mining. If you buy within 7 days Zeusminer will also give you an extra 1.2 mHz/sec hosted scrypt mining power through ZeusHash.com opening soon. Shipping is $54, so your $253 investment will get you 2.4 mHz/sec scrypt mining, works out to a cost of $0.11 per kH/sec, one fourth the cost per kH/sec of scrypt.cc. They don't promote through affiliate links though, don't have to:)

Yes, thanks for the unbiased opinion. Mine was a bit less well mannered.

The cryptomining blog also shows that their advice can turn tricky as well:

Ouch!
Imagine how much they would have made be reinvesting their profit in scrypt.cc instead of hoping they'll see some return from the more reliable and better service of Bit-Mining.co 

I didn't have a proper look first time it was posted, so thought I'd try and give an unbiased opinion:

It should be noted that Cryptomining-blog review is a month old, and their recommendation was based on the poor support response back then - general opinion from site users now seems to be that they have fixed a lot of the initial bugs and support response is much improved.

Thought I'd look at the Farmshares option, since the price is so attractive, and it appears you can sell the shares on if you dont like the service. I like that they increase your KHs every so often, but I couldnt find anything about maintenance fee so I assume its deducted from payouts? Disadvantage seems to be that you can only mine LTC or FTC, neither of which have been particularly profitable recently - I looked at the figures on the "Farm payments" page and worked out that the daily payout for LTC averaged approx. 0.0046BTC/MH/day last week. Not bad but about 50% lower than Scrypt.cc

The GAWminers deal is great if you are looking to spend $1600 on an ASIC miner but that's a big longterm committment that many people wouldnt want to make currently.

Scryptsmining.com actually looks very similar to scrypt.cc in operation, same maintenance fee, similar returns (maybe slightly less, I dont have enough data) and cost per KHs about 15% less on today's price. I'd have to do some more research to see how existing users of Scryptsmining.com are getting on with support etc, might buy a 65KHs share just to try it out.

Sheesh, wat kind of deja-vu is this?! You already posted this in this thread on April 14: https://bitcointalksearch.org/topic/m.6205285

It was already mentioned then that the cheapest isn't neccesarily the best, so why repeat that in the same thread now? Why don't you do some homework instead?! You might see the price for scrypt.cc in your previous post was $0.62. Now it's $0.44. See there how a market works in which the people decide what a KHS is worth to them and how well scrypt.cc supports that. None of the others offer that.

Just an FYI beta doesn't always lead to a final version.. Hashcows has been in beta for better part of year now (or close to).

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Scrypt.cc using other algorithms to get us the best return is good enough reason to give them my business. Also the site is still in beta if it is as good as it is now in beta I cannot wait to see what comes down the road.

I agree with z0rr0. In my case scrypt.cc works perfectly

Cheaper doesnt always mean better though...

Cryptomining blog gave scrypt.cc a poor review, recommended staying away.

Reference to this table, based on bitcoin price of $444 shows scrypt.cc to offer the worst cost per kH/sec:

• Farm$hares equal to 5900 kH/sec would cost $1119. Cost per kH/sec: $0.19
• GAW Miners is offering a 5200 kH/sec Gridseed ASIC blade miner for $1610 with free hosting for a year. Cost per kH/sec: $0.31
• Scryptsmining.com shares equal to 5200 kH/sec would cost $1857 for 80 shares. Cost per kH/sec: $0.36
• Scrypt.cc shares equal to 5200 kH/sec would cost $2302. Cost per kH/sec: $0.44

Farm$hares continues to provide the lowest cost per kH/sec for hosted litecoin scrypt ASIC mining. If shares are not in stock check back often. When they are listed they sell out quickly. Recommend you always do your homework before you invest in any cloud mining service. Zeusminer will also be offering a new clould mining service soon called ZeusHash.

You really can't ... But thats unfortunately the same with every other thing within crypto ... On the other hand, http://scrypt.cc?ref=baaTJ gave away some BTC after easter which is a good sign! But remember to never invest in something you don't trust!  

How can I be sure that the site will shut down overnight and all my money disappear?