Topic: [XPM] [ANN] Primecoin Release - First Scientific Computing Cryptocurrency - page 76. (Read 688812 times)
July 18, 2013, 06:08:31 PM
Gamble of what? Even if you find only one block every 20 days it is still profitable. Mining costs you nothing unless if you're an idiot and you're renting a VPN/server.
July 18, 2013, 05:54:15 PM
markm, woke up sarcastic today huh? :p
I agree that it's a gamble atm...hard to compete with the big dogs solo, but well, give it some time folks.
I'm gonna keep cpu mining with my vps till I get my new cpu+mobo combo and my vps credit runs out.
I agree that it's a gamble atm...hard to compete with the big dogs solo, but well, give it some time folks.
I'm gonna keep cpu mining with my vps till I get my new cpu+mobo combo and my vps credit runs out.
July 18, 2013, 05:23:10 PM
Of course its not, any more than lotteries are! 
-MarkM-
-MarkM-
July 18, 2013, 05:20:22 PM
I got a block today with 4500 pps.
I saw on the news once that someone won a lottery jackpot with less than 4501 tickets.
Useful to know, isn't it?
Oh except that your 4500 PPS's maybe aren't linear to chance of winning like lottery tickets are supposed to be.
-MarkM-
Duh. I didn't imply it was. I was just reporting my success. Some people still get blocks. It's not a lost cause.
July 18, 2013, 05:18:18 PM
I got a block today with 4500 pps.
I saw on the news once that someone won a lottery jackpot with less than 4501 tickets.
Useful to know, isn't it?
Oh except that your 4500 PPS's maybe aren't linear to chance of winning like lottery tickets are supposed to be.
-MarkM-
July 18, 2013, 05:15:39 PM
I actually expect GPU mining to it worse faster, not make it better at all.
But then again I have less GPUs than CPUs and way the heck less than GPU farm operators.
Still, right now only CPUs are slicing up the pie. When GPUs also start taking slices of that same pie I expect the slices will be a heck of a lot smaller.
In essence more people seem likely to try to mine, and also there will be a whole new gambler's luck thing starting again, and all the gamblers whether they managed to break their addiction to CPU mining Primecoin or not will get to pull the lever "just one more time" to "see if maybe this new shiny will change my luck"...
-MarkM-
But then again I have less GPUs than CPUs and way the heck less than GPU farm operators.
Still, right now only CPUs are slicing up the pie. When GPUs also start taking slices of that same pie I expect the slices will be a heck of a lot smaller.
In essence more people seem likely to try to mine, and also there will be a whole new gambler's luck thing starting again, and all the gamblers whether they managed to break their addiction to CPU mining Primecoin or not will get to pull the lever "just one more time" to "see if maybe this new shiny will change my luck"...
-MarkM-
July 18, 2013, 05:14:21 PM
mining for 36hrs at 1300pps, nothing yet. this might be a lost cause.
As early as we are, relatively speaking, we are already too late. At least until they get GPU mining software to the public.
I'll keep it going for a few more days. It's running on my media server, so it's always on anyway.
July 18, 2013, 05:11:26 PM
I got a block today with 4500 pps.
July 18, 2013, 05:09:59 PM
mining for 36hrs at 1300pps, nothing yet. this might be a lost cause.
I got only one block in 74 hours mining with 12,000 PPS.
It's getting hopeless now.
July 18, 2013, 05:06:28 PM
mining for 36hrs at 1300pps, nothing yet. this might be a lost cause.
As early as we are, relatively speaking, we are already too late. At least until they get GPU mining software to the public.
July 18, 2013, 05:05:09 PM
With the price now 400% up on the time that I wrote that I would buy anything under .003, and that you were all stupid for selling them at that price, I thought it would be a good time to re-quote this post
I didn't buy much at that price (a few BTC), and what I did buy I ended up selling off at .01 for a happy 3-4x profit. I'll be keeping what I have mined for a little longer. Thank you- PTT
Nice I bought some at $0.32 and sold for $0.56 but kept the profit in coins which are now worth double
I'm gona keep them till I see 0.05 or never might use them hopefully.what if they hit 0.1? they will if no gpu miner apear or big bug in prime codes...
I mean it's only logical. Like, ten minutes ago, I wasn't sneezing. I sneezed just now. That is infinite growth of a series right there, so I imagine that I will only exist as a sneeze in the form of pure energy travelling at the speed of light in another ten minutes. Extrapolation!
July 18, 2013, 05:04:59 PM
With ASIC manufacturers capitalizing on their ASICS like they are now, it's just an unfair game of the absolute richest getting richer.
What is unfair about it? How can someone who doesn't understand free markets even be a proponent of cryptocurrencies? Are you sure you are in the right place? ASICs will bring mining to more people than GPUs and CPUs ever did. How? When each unit is 6000 dollars a peice! Nobody can afford that!
Fail.
My two Jalapeños were a bit over $300 when I bought them, and they've more than earned their money back already. They've since gone up in price, but still nowhere near $6k.
When were you able to start mining with those?
July 18, 2013, 05:04:54 PM
mining for 36hrs at 1300pps, nothing yet. this might be a lost cause.
July 18, 2013, 05:02:52 PM
With ASIC manufacturers capitalizing on their ASICS like they are now, it's just an unfair game of the absolute richest getting richer.
What is unfair about it? How can someone who doesn't understand free markets even be a proponent of cryptocurrencies? Are you sure you are in the right place? ASICs will bring mining to more people than GPUs and CPUs ever did. How? When each unit is 6000 dollars a peice! Nobody can afford that!
Fail.
My two Jalapeños were a bit over $300 when I bought them, and they've more than earned their money back already. They've since gone up in price, but still nowhere near $6k.
July 18, 2013, 04:53:32 PM
I think we need a fancy shmancy graph.
July 18, 2013, 04:10:30 PM
Does the difficulty scale in a linear way or is it hard to predict?
+1 difficulty == 30x harder to mine a block
+2 difficulty == 900x harder
etc.
hold on a min, so now it is 900x harder to mine blocks that at the start? well i think it was 7.6 when i started so no wonder the blocks have stopped for me. Wow, need a pool asap.
The genesis block was difficulty 6.0, block 2 was difficulty 7.0 and it ramped up incrementally from then on.
July 18, 2013, 04:07:55 PM
Does the difficulty scale in a linear way or is it hard to predict?
+1 difficulty == 30x harder to mine a block
+2 difficulty == 900x harder
etc.
hold on a min, so now it is 900x harder to mine blocks that at the start? well i think it was 7.6 when i started so no wonder the blocks have stopped for me. Wow, need a pool asap.
July 18, 2013, 04:07:25 PM
Is it worth it to mine this coin on a Quad core i7 2.2 GHZ?
EDIT: 2670-QM Intel core
EDIT: 2670-QM Intel core
As a way to make a quick buck? Maybe, maybe not.
As an interesting experiment in math, science and economics? Hell yeah!
My CPUs would be crunching primes anyway, so I'm not exactly losing anything by running primecoin instead.
More generally, how do you measure the worth of something, whether it's useful? Maybe thing A is useful because it helps you with thing B. So what's B good for? Probably because it improves C, and so on - you'll never end up with some fundamental worth or utility this way. In the end, we all die, and we can't take our cryptocoins down into the crypt
Personally, I play with cryptocurrencies because it's fun (and I dig math). IMHO, where worth begins, fun ends.
July 18, 2013, 04:04:12 PM
Does the difficulty scale in a linear way or is it hard to predict?
http://ppcoin.org/static/primecoin-paper.pdf
July 18, 2013, 04:03:19 PM
Does the difficulty scale in a linear way or is it hard to predict?
+1 difficulty == 30x harder to mine a block
+2 difficulty == 900x harder
etc.
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