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Old Dec 9, 2013, 05:43 PM   #1
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BababooeyHTJ
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Default Altcoin mining thread, who else is doing it?

I decided to make a thread dedicated to mining. Who else here is doing it? What coins are you mining?

I decided to lay off the litecoins. I've been mining Feathercoins for a couple of days. I'm going to hoard them until the price goes up a bit more. Its been creeping back up.
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Old Dec 9, 2013, 06:05 PM   #2
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If I were you I'd be using one the pools that autoswitches based upon coin profitability. The one I'm using (hashco.ws) even autotrades them into btc for me.

I think it's the best way myself. Why stick with mining only one coin?
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Old Dec 9, 2013, 06:06 PM   #3
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I've decided to ride the Litecoin train for now, I'll keep mining until the difficulty is too high to generate them at a decent rate, then I'll switch to something else.
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Old Dec 9, 2013, 06:13 PM   #4
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Are you banking on ltc rising meteorically like btc has?

http://www.coinwarz.com/cryptocurrency If not I really suggest looking into autoswitching pools.
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Old Dec 9, 2013, 06:35 PM   #5
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If I were you I'd be using one the pools that autoswitches based upon coin profitability. The one I'm using (hashco.ws) even autotrades them into btc for me.

I think it's the best way myself. Why stick with mining only one coin?
Really? Now that seems handy as ****. Thanks for the tip.
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Old Dec 9, 2013, 06:45 PM   #6
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Are you banking on ltc rising meteorically like btc has?

http://www.coinwarz.com/cryptocurrency If not I really suggest looking into autoswitching pools.
Yes. I'll hold onto them for as long as necessary to make some serious money. Once mining Litecoins is no longer beneficial, I'll switch to Altcoins.
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Old Dec 9, 2013, 07:15 PM   #7
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Yes. I'll hold onto them for as long as necessary to make some serious money. Once mining Litecoins is no longer beneficial, I'll switch to Altcoins.
This is what I've been doing, but am gonna test out the hashco.ws thingy right now just for the hell of it. Who knows, maybe worth it, maybe not.
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Old Dec 9, 2013, 07:30 PM   #8
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This is what I've been doing, but am gonna test out the hashco.ws thingy right now just for the hell of it. Who knows, maybe worth it, maybe not.
My only concern with that is that by the time that it actually pays out and then sells the coins the value will be down.

At the moment I'm hoping to see the price of feathercoins rise and just hoarding.

I'm still tempted to give hashco.ws a shot though. It does look easy.
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Old Dec 9, 2013, 07:31 PM   #9
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Is there any truth to this activity being responsible for driving up the prices on the 280x series? They're like $50-100 more on a lot of sites.. or is it just limited availability.
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Old Dec 9, 2013, 07:35 PM   #10
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Is there any truth to this activity being responsible for driving up the prices on the 280x series? They're like $50-100 more on a lot of sites.. or is it just limited availability.
It's distinctly possible. Radeon's are already top notch at mining, but the new gen is insanely good at it. I'm even getting ready to swap out my GTX 680 for a pair of R9 290X very very soon.
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Old Dec 9, 2013, 07:46 PM   #11
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Is there any truth to this activity being responsible for driving up the prices on the 280x series? They're like $50-100 more on a lot of sites.. or is it just limited availability.
Without a doubt, look at reddit. There are pictures of people with pallets of these cards.
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Old Dec 9, 2013, 08:20 PM   #12
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I'm thinking about starting it. If the calculator is about right, off my two 290s I would see roughly $500 profit/mo. Does that sound feasible?
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Old Dec 9, 2013, 08:29 PM   #13
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I'm thinking about starting it. If the calculator is about right, off my two 290s I would see roughly $500 profit/mo. Does that sound feasible?
Yes. About matches my estimates as well. You can get a good idea about actual mining speeds for your specific card at https://litecoin.info/Mining_hardware_comparison. It's for Litecoin, but actually is the same rate all altcoin is pretty much mined at. Feathercoin and the other litecoin types all use the same mining proggy (GUIminer/cgminer if yer on AMD, cudaminer for Nvidia).

Edit: added miner info for AMD cards
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Old Dec 9, 2013, 09:14 PM   #14
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I'm thinking about starting it. If the calculator is about right, off my two 290s I would see roughly $500 profit/mo. Does that sound feasible?
Thats if difficulty stays the same for the month, which it won't. On the other hand the price of LTC could go up.
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Old Dec 9, 2013, 09:35 PM   #15
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Mining Litecoin @ ~3700KH
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Old Dec 10, 2013, 12:18 PM   #16
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It does sound interesting, but it feels like it's almost getting too popular too fast. I was already running my power bill up significantly with [email protected], but I guess if the reward was worth it in this...
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Old Dec 10, 2013, 12:22 PM   #17
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Difficulty has sky-rocketed. Litecoin isn't going to produce much ROI in a very short time for anyone that doesn't have a ton of them saved up already, or a metric ton of graphics cards to run cgminer on.
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Old Dec 10, 2013, 03:35 PM   #18
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Difficulty has sky-rocketed. Litecoin isn't going to produce much ROI in a very short time for anyone that doesn't have a ton of them saved up already, or a metric ton of graphics cards to run cgminer on.
It's probably better to just buy LiteCoins straight up and then sell them when they are worth a bit more. That way you get the coins right now vs. having to mine for them over a period of time.
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Old Dec 10, 2013, 03:54 PM   #19
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It's probably better to just buy LiteCoins straight up and then sell them when they are worth a bit more. That way you get the coins right now vs. having to mine for them over a period of time.
True, but then there's a real monetary outlay and not everyone is comfortable doing that. Who knows what the future of Litecoin or any crypto currency really is? I have thought about it, though. The way I see it, video cards are basically free (for me) since I can just replace old hardware and write off the difference as an upgrade cost. Whatever I make at that point is just a nice bonus.
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Old Dec 10, 2013, 04:16 PM   #20
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put your hashrate into dustcoin.com and see your results on lots of cryptocurrencies.

http://dustcoin.com/
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Old Dec 10, 2013, 04:56 PM   #21
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put your hashrate into dustcoin.com and see your results on lots of cryptocurrencies.

http://dustcoin.com/
Sweet. Thanks!
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Old Dec 10, 2013, 05:04 PM   #22
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[email protected]

Check out Sexcoin: +1489% in the last few hours

http://coinmarketcap.com/
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Old Dec 10, 2013, 05:33 PM   #23
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There would be
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Old Dec 10, 2013, 07:26 PM   #24
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How do you buy these coins themselves? is there a market for em?
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Old Dec 10, 2013, 07:39 PM   #25
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There is a few. I've been using BTC-E.
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Old Dec 11, 2013, 09:23 AM   #26
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I HATE cryptocurrency. They will all go tits up. Also, they are preventing me from being able to find a 280x for my new computer.
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Old Dec 11, 2013, 10:05 AM   #27
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Yep, there's wide spread shortage of Tahiti and Hawaii based boards because of the latest LTC craze. Both brand new and second hand prices are up.
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Old Dec 11, 2013, 10:43 AM   #28
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The Litecoin craze will likely end soon, difficulty continues to climb at a very high rate, meaning if you don't have quite a few cards running then your production will be fairly low. I started at about 3.5 LTC per day, now I'm down to around 1.5 and the next difficulty spike will have me down to about 1.4. I have to throw my spare 7950 into a rig just go get it back up above 1.5. I think once it dips below 1 per day I'll switch to something else and just hoard whatever LTC I've been able to accrue until they become worth something like BTC.
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Old Dec 11, 2013, 10:46 AM   #29
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The Litecoin craze will likely end soon, difficulty continues to climb at a very high rate, meaning if you don't have quite a few cards running then your production will be fairly low. I started at about 3.5 LTC per day, now I'm down to around 1.5 and the next difficulty spike will have me down to about 1.4. I have to throw my spare 7950 into a rig just go get it back up above 1.5. I think once it dips below 1 per day I'll switch to something else and just hoard whatever LTC I've been able to accrue until they become worth something like BTC.
Projections from other forums seem to think difficulty will go back down some soon.
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Old Dec 11, 2013, 12:22 PM   #30
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How viable are some of these other currencies? I was looking at Digitalcoins and BBQcoins as possible alternatives to move to at some point. But I'm not sure I want to spread this all around into so many different types.


Also, one thing I can't quite understand is where the coins I mine actually are. Could someone please explain that. I've looked and not found answers that make sense to me.

For example I have the Litecoin wallet program on my machine. That gives me some address. I have my mining pool set to payout at 5 coins and send to my address. When it pays out, where are my coins exactly? This is confusing to me.

I'm worried that if I uninstall the wallet program or my hard drive dies or whatever that I'll end up losing the coins. How do I protect against that? Do I backup the addresses some where? None of this seems tied to any account, I'm unsure of how I would restore my earnings.
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