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Chat archive · 2017-06

sirslayerjr · · #5570

@ 1 ghash of scrypt for 24 hours is 92.34 usa dollars

FRISKIE · · #5571

You guys noticed that BTC hit briefly above USD 3.000 ?

sirslayerjr · · #5572

you have to be earning more then $3.84 an hour to break even

sirslayerjr · · #5573

@ 1 ghash of scrypt

sirslayerjr · · #5574

@ NH

sirslayerjr · · #5575

yes its almost 3000

FRISKIE · · #5576

Still is yeah, it actually crossed above 3K briefly several hours ago

sirslayerjr · · #5577

and the value of btc goes up , rentals at NH btc per day stays the same rate

FRISKIE · · #5578

At least that :)

tmopar · · #5579

ah ok... so i cant rent 1ghash at nh for ~100 usd every day? Im bringing in about 66~70 usd @ 600mh so I can see where this might make money but just barely

sirslayerjr · · #5580

yes that if it fixed at 0.028

sirslayerjr · · #5581

the bots are causing the price to change so wild.. you wont unless you followed the bots... they seem to know wehn to change prices

sirslayerjr · · #5582

when*

FRISKIE · · #5583

@ tmopar - it usually clears enough at that rate to be worth it, IF you're able to get a decent price on a Fixed type order that is more of a "set it and forget it" way of using NH. When one factors in that there is no investment in HW, no electricity to calculate, and the scalability depends simply on how much money you're willing to cycle through, the service can make more sense.

sirslayerjr · · #5584

in the last hour, price for rentals when up to 0.033 to 0.028

FRISKIE · · #5585

That said though, the recent advent of bots that use the Prohashing WAMP data to drive pricing on NH relative to rise and fall of Prohashing profits has resulted in situation at NH where price levels can no longer respond to market conditions within the NH site itself, but are instead driven externally by Prohashing profit levels - something I am vehemently opposed to, and have discussed via PM with Chris and Steve directly.

FRISKIE · · #5586

Shares are still lagging terribly behind - either that or I've lost my *ss today!

FRISKIE · · #5587

Anyone else missing a lot of shares?

sirslayerjr · · #5588

which adds insults to injury

sirslayerjr · · #5589

my instant reply seem a little short.. bad mining day

tmopar · · #5590

It would seem to reallllly make loot off of this you would need to do 10 times that amount, say 1000 ~ 10 ghash.... then with the decimal place moved a few spaces it might make sense

sirslayerjr · · #5591

i usually do 50 g

FRISKIE · · #5592

The uncertainty of not knowing if you're profitable - or maybe even losing big sums - can be a bit stressful

tmopar · · #5593

do whales go to the front? is there a benefit in maxing it out?

sirslayerjr · · #5594

yes

sirslayerjr · · #5595

ts the only way to beat a bot

tmopar · · #5596

man... thats risky... I got btc as an investment in reserve... What you need minimum to get the whale status

sirslayerjr · · #5597

idk, it was a slow build up from the profits of prohashing .. 0.1 btc is a good start

sirslayerjr · · #5598

and made over 300 dollars when btc was at 2600

tmopar · · #5599

May i ask why not just invest the money in a miner? With that you get milk without risk and they sometimes appreciate in value etc? Is it electricity?

sirslayerjr · · #5600

ive been doing this for years and the only reason why im on nucehash is because of this site

tmopar · · #5601

so you do a hybrid then

sirslayerjr · · #5602

if i wasnt profitable on nicehash i would mine.. and mining is only a trend

sirslayerjr · · #5603

i wouldnt mine is what i ment i need to double check my spelling

tmopar · · #5604

mining is a trend?

sirslayerjr · · #5605

but im good on my math and quick look and calculate helps out

sirslayerjr · · #5606

as the brothers state on prohashing.. we are in a mining bubble and it will burst soon

tmopar · · #5607

meaning that BTC price will collapse or the scrypt profitability numbers will

tmopar · · #5608

or both?

sirslayerjr · · #5609

well i run a 42-coin node , can be a hybrid

fattygrub · · #5610

@ FRISKIE ..yes I am apparently way behind in shares too..

AvPro · · #5611

Just back online, somebody say share/balance lag?

tmopar · · #5612

i dont think theres a bubble... and I will tell you why. It only makes sense... FIAT is forever expanding and growing and so there is an infinite number of the asset. Gold has a known quantity mined and possibly in reserves but there is a possibility they will find a large cache tomorrow and this would affect price. BTC is planned to be unique in that only X number will ever be made and this cannot be fudged with or discovered on an asteroid around. Thus as fiat becomes more worthless fixed assets like BTC only naturally should be worth more of the FIAT as time approaches infinity

sirslayerjr · · #5613

im theories are that we are in a second phase of crypto mining.. btc and ltc was the first phase.. now its eth, zcash ect ect that promotes mining .. the second phase .. after the best coin is figured out on this 2nd phase, it will need to compete with btc.. but i think btc is the coin we should be investing in the long term

VanessaEzekowitz · · #5614

I can’t actually tell how far behind my shares are

sirslayerjr · · #5615

remember all coins will be mined

sirslayerjr · · #5616

and a lot of investor investing in bad coins were hoping to have the ultimate coin will also end our current mining phase.. investor looking for that best crypto didnt realized that btc was there the whole time

tmopar · · #5617

I dont agree that BTC is the best in features/operations, because better ones have been invented. BTC is the best in the straight commercial sense that its the universal currency that most people would/can/could accept as well even if they primarily accept other coins on a daily basis.

FRISKIE · · #5618

From a purely "currency" perspective, possibly - but other coins have added features which support business needs, Lisk for example and the partnership with Microsoft Azure cloud computing services portfolio - BTC can't support these type of use cases, and several altcoins from ETH to NXT to Bitshares (to name a few) have features geared towards supporting business processes, which is a big reason for the growing adoption of altcoins - not simply profit seekers looking for the next big thing.

FRISKIE · · #5619

@ tmopar - I agree with your comment

tmopar · · #5620

It would take ETH a long long time to catch up to BTC’s market penetration. I would love to see numbers on total amount of virtual coin sent per day in a pie chart.

tmopar · · #5621

I like eth, dont get me wrong, and im getting some now... but its still young relatively speaking

FRISKIE · · #5622

There's another way to look at it - ETH has a long way to go before it reached BTC usage "as a currency" - but, ETH has a growing number of "smart contract" enabled projects geared towards the business community - something that BTC will never have, as it lacks these capabilities.

FRISKIE · · #5623

Market cap currently is interesting as well , 44Bn for BTC and 34Bn for ETH , that's quite a war chest to develop those capabilities with :)

tmopar · · #5624

I looked at them... I have one question about ethereum but if no one can interfere what happens if someone engineers an exploit or a malicious contract of some kind... how could that be mitigated in a way that couldnt be weaponized

FRISKIE · · #5625

To imagine that there will not be exploits would be naive I suppose, but speaking of ETH in particular, they have what could be considered a "dream team" of developers, many top devs who moved over from BTC among other top talent - the exploit would hopefully be closed rather quickly. One hopes at least :)

FRISKIE · · #5626

But yeah, it's always a cat and mouse between those writing exploits and those maintaining the security of the platform, and obviously the more features a system has, the more potential attack vectors there will be.

tmopar · · #5627

Well, i come from an environment of development and when I read over the project I really thought it was very interesting... its essentially a highly specialized cloud app hosting platform. The first thing I thought of is a virus or an exploit or using it as a vessle to conduct attacks

tmopar · · #5628

They would have to be able to turn contracts off and once they do that, it looses its appeal as unstoppable by human intervention

FRISKIE · · #5629

If you enjoyed the ETH project details, you'd probably enjoy this one as well - if you haven't already read up on it :) - https://steemit.com/eos/@trogdor/introd ... ing-system

sirslayerjr · · #5630

well what btc lacks can be added on later as a service from the private community. idk but hard high value is btc strength and unless btc ledger (blockchained) gets hacked ,,btc and other altcoins with a blockchain will collapses

FRISKIE · · #5631

well what btc lacks can be added on later as a service from the private community
if they ever decide to start agreeing on anything together, probably yes . . not too encouraging in that regard lately, but it could change over time.

tmopar · · #5632

my point is ultimately this: If there is a possiblity of what i am saying becoming true one day, BTC is categorically immune to this and so consequentially the drop in value which the affected exploit currency would suffer. Relatively speaking BTC is as inert as gold or silver in that way.

tmopar · · #5633

keep it simple premise at play about that which we all hold in great esteem : the money

FRISKIE · · #5634

But prone to it's own potential showstoppers and definitely not useful to business in the ways ETH and other similar platforms are. So, it's a risk analysis and judgement call, and no way to know how things will develop - but I'm betting on ETH for the longer term.

FRISKIE · · #5635

Man, shares still lagging so far behind, am fairly anxious today hoping the final figures will look ok.

tmopar · · #5636

Im down a little myself for the day but its probably an adjustment that needs made they know about

sirslayerjr · · #5637

eth transfer are so slow.. which i didnt like.. cant use it at the future am/pms

FRISKIE · · #5638

Here we go, right on time - Prohashing Scrypt profits showing 22+ , and NH prices climb right on up to 0.0641

tmopar · · #5639

I am actually trying to use the wallet... its a straight saw movie, maybe im doing something wrong but it keeps freezing while syncing

sirslayerjr · · #5640

and at one time i thought bots were a good thing

FRISKIE · · #5641

Uhum, depending how they are implemented they can be

tmopar · · #5642

guys they gotta do that... i bet they pay more when they bump up the requirement... whats keeping all the miners they got slaving for nicehash from coming to prohashing? almost nothing

tmopar · · #5643

knowledge

FRISKIE · · #5644

@ Steve - has anyone taken note of how terribly far behind the shares are? And they dont seem to be catching up

sirslayerjr · · #5645

oh yes, its nicehash and the miners benefits for this , we can also

FRISKIE · · #5646

whats keeping all the miners they got slaving for nicehash from coming to prohashing?
The miners benefit from the higher prices

sirslayerjr · · #5647

from*

tmopar · · #5648

I mined for nicehash before coming here.. i gotta admit i made more money day one

sirslayerjr · · #5649

well at 0.06 im suprised you dont pool hop

tmopar · · #5650

i have a backup pool

tmopar · · #5651

I still use NH only just for the SHA256 of which I have a very small operation

sirslayerjr · · #5652

design a bot that jumps between prohashing and nicehash

FRISKIE · · #5653

If prices remain at current levels much longer I'll have to go somewhere else altogether, others will find they are likewise struggling to clear profit from NH and will do the same.

sirslayerjr · · #5654

ive stopped mining at prohashing a few hours ago.. ill just sit on its funds for another day .. good luck to all of yous !!

tmopar · · #5655

FRISK where would you go to rent if not NH?

mickeekung · · #5656

Is there any other rental excluding Nicehash and MRR?

VanessaEzekowitz · · #5657

Meanwhile, is there an IRC channel somewhere that connects to this chat (or supplements it)?

tmopar · · #5658

I have thought that myself for a long ttime that they needed an IRC server

piet · · #5659

Im missing about 600mhz between (cet) 9:36 and 12:06 when looking at my hasrate history :roll:

VanessaEzekowitz · · #5660

seems like the simplest solution would be to start a channel on freenode or something.

AvPro · · #5661

piet wrote: Im missing about 600mhz between (cet) 9:36 and 12:06 when looking at my hasrate history :roll:
glad I am not the only one

FRISKIE · · #5662

Still missing a big chunk of shares as well

VanessaEzekowitz · · #5663

how can you tell if you’re missing shares exactly?

FRISKIE · · #5664

FRISK where would you go to rent if not NH?
I suppose I'd experiment with some of the rental sites where you rent individual miners for a day ( or however long their offer is for) - I still have hopes though that NH is going to realize that their customers are being hit in a big way, and that they'll move to ban those bots and restore market conditions within their own system - not some "pseudo-market" pricing pegged to external forces, i.e. Prohashing profits.

Steve Sokolowski · · #5665

piet wrote: Im missing about 600mhz between (cet) 9:36 and 12:06 when looking at my hasrate history :roll:
Please send an E-Mail to Chris about this. Messages in this chat often get lost before Chris wakes up.

webshaun · · #5666

guys, is the network minimum for ether ever going to be lowered below the default payout threshold?

mickeekung · · #5667

Steve always wake up around 6:00 am and Chris always wake up after Steve wake up for 3-4 hours.

Steve Sokolowski · · #5669

webshaun wrote: guys, is the network minimum for ether ever going to be lowered below the default payout threshold?
I don’t know what these are set at currently, but Chris might be willing to help you by E-Mail or call.

webshaun · · #5670

ty