Dedicated Protoshare Mining Rigs

[TheLostViking]

On the mining rig topic, Its not worth buying a dedicated mining rig. I have two intel haswell i5 computers. One is overclocked to 4.4ghz and it only manages max about 170 c/m. The slower one about 120 to 140 c/m. Iv had both them running virtually 24 hours a day for a week and not even made 3 pts yet.

Well thats 0.06+ bitcoins in 3 days, i would not complain.

[recci]

On the mining rig topic, Its not worth buying a dedicated mining rig. I have two intel haswell i5 computers. One is overclocked to 4.4ghz and it only manages max about 170 c/m. The slower one about 120 to 140 c/m. Iv had both them running virtually 24 hours a day for a week and not even made 3 pts yet.

[bytemaster]

If its all going to be Proof of Stake how will we get shares in the new DACs if they aren't mined?

yeah can you answer this one?

Answer is drafted, will provide details soon.

[recci]

If its all going to be Proof of Stake how will we get shares in the new DACs if they aren't mined?

yeah can you answer this one?

[frankthedog]

@bitshirehashaway

Would you consider selling just the box?
That is, the same specs as in your post but without monitor, mouse, and keyboard?

If so, what would be your price for just the box?

[luckybit]

If its all going to be Proof of Stake how will we get shares in the new DACs if they aren't mined?

[bytemaster]

All future DACs will be Proof of Stake and thus no mining (unless Proof of Stake has some horrible flaw we have yet to identify).

[fuzzy]

About 1 PTS per day.

I do not recommend buying dedicated mining hardware.   The block reward, difficulty, and appreciation of PTS will never allow you to recover your capital costs.    It will take you 30 days to break even on capital of $400 and end up with 20 PTS (assuming difficulty does not go up).    If you purchased 20 PTS today you will likely be further ahead in 3 months than investing in a dedicated mining rig.

Isn't each future DAC going to require the same hashing algorithms and thus have the potential to be mined by the very same machines that mined protoshares?  Or am I missing something? 

If that IS the case, you are more than able to profit off of it...imo. 

Of course, there is also the matter of the CryptoCurrency Economy and its ability to turn work (mining) into a vote in a complex information market.  Mining gives you a vote toward helping something of value move forward. 

Just looking at the Seti project-- (http://seti.berkeley.edu/) makes this pretty obvious.  Millions of people help or have helped "mine" for this project...and thus voted it into existence.  Direct Democracy...
So really we are not so far from past endeavors--though we certainly are pushing that envelope here and in a few other places on the net.  This is an extension of these trends to a logical conclusion (given the state of corruption and banking cartels worldwide).

Maybe we should try to redefine the word "profit" or speak about this in terms of Kinds of Profit?   

[bytemaster]

About 1 PTS per day.

I do not recommend buying dedicated mining hardware.   The block reward, difficulty, and appreciation of PTS will never allow you to recover your capital costs.    It will take you 30 days to break even on capital of $400 and end up with 20 PTS (assuming difficulty does not go up).    If you purchased 20 PTS today you will likely be further ahead in 3 months than investing in a dedicated mining rig.

Thanx alot.

So why do people bother mining?

Anyone who already owns equipment or is renting it can mine profitably.

[rizq]

About 1 PTS per day.

I do not recommend buying dedicated mining hardware.   The block reward, difficulty, and appreciation of PTS will never allow you to recover your capital costs.    It will take you 30 days to break even on capital of $400 and end up with 20 PTS (assuming difficulty does not go up).    If you purchased 20 PTS today you will likely be further ahead in 3 months than investing in a dedicated mining rig.

Thanx alot.

So why do people bother mining?

[bytemaster]

About 1 PTS per day.

I do not recommend buying dedicated mining hardware.   The block reward, difficulty, and appreciation of PTS will never allow you to recover your capital costs.    It will take you 30 days to break even on capital of $400 and end up with 20 PTS (assuming difficulty does not go up).    If you purchased 20 PTS today you will likely be further ahead in 3 months than investing in a dedicated mining rig.

[rizq]

We have mining rigs that cost $400 each... not good for much else. 

With GPU mining on the horizon you will want to wait until the best GPU algorithms are ready before investing capital there.

Huh, Who is selling dedicated pts miners for $400, where, how are the specs?

Core i7 with 2 GB of RAM that gets about 150 HPM.

You didn't tell us who, or where yet.

How many PTS can i roughly expect to get per day if i buy the $400 one.

[bytemaster]

We have mining rigs that cost $400 each... not good for much else. 

With GPU mining on the horizon you will want to wait until the best GPU algorithms are ready before investing capital there.

Huh, Who is selling dedicated pts miners for $400, where, how are the specs?

Core i7 with 2 GB of RAM that gets about 150 HPM. 

[smiley35]

We have mining rigs that cost $400 each... not good for much else. 

With GPU mining on the horizon you will want to wait until the best GPU algorithms are ready before investing capital there.

Huh, Who is selling dedicated pts miners for $400, where, how are the specs?

[bitshirehashaway]

We have mining rigs that cost $400 each... not good for much else. 

With GPU mining on the horizon you will want to wait until the best GPU algorithms are ready before investing capital there.

True... except these rigs can be used for other things. Plus, wasn't the point of protoshares that you can't do GPU mining ... I've been hoping for an only CPU coin forever now.

The GPU rigs are on par with high-end Dual Xeon rigs so we are very close.  Momentum 2.0 will close that gap further.

That's what I like to hear

[bytemaster]

We have mining rigs that cost $400 each... not good for much else. 

With GPU mining on the horizon you will want to wait until the best GPU algorithms are ready before investing capital there.

True... except these rigs can be used for other things. Plus, wasn't the point of protoshares that you can't do GPU mining ... I've been hoping for an only CPU coin forever now.

The GPU rigs are on par with high-end Dual Xeon rigs so we are very close.  Momentum 2.0 will close that gap further.   

[bitshirehashaway]

We have mining rigs that cost $400 each... not good for much else. 

With GPU mining on the horizon you will want to wait until the best GPU algorithms are ready before investing capital there.

True... except these rigs can be used for other things. Plus, wasn't the point of protoshares that you can't do GPU mining ... I've been hoping for an only CPU coin forever now.

[bytemaster]

We have mining rigs that cost $400 each... not good for much else. 

With GPU mining on the horizon you will want to wait until the best GPU algorithms are ready before investing capital there.

[bitshirehashaway]

Hello Everyone,
Those interested can buy dedicated protoshare mining rigs. The rigs delivery time will be ~2 weeks from payment received time. I'll take the payment. Get the parts, and put it together. Setup the OS (as part of your payment give me a user and os password) - download the necessary miners for ypool mining (create shortcuts all that) - stress test it for a day, and then send it to you.


Parts
Corsair Builder Series CX 430 Watt ATX/EPS  80 PLUS
Asus 24x DVD-RW Serial-ATA Internal OEM Optical Drive
Arctic Silver 5 Thermal Compound 3.5 Grams
Cooler Master Hyper 212 EVO - CPU Cooler with 120mm PWM Fan
WD Blue 1 TB Desktop Hard Drive: 3.5 Inch, 7200 RPM, SATA 6 Gb/s, 64 MB Cache
Corsair Vengeance 8GB (1x8GB) DDR3 1600 MHz (PC3 12800) Desktop Memory
Intel Core i7-4770K Quad-Core Desktop Processor 3.5 GHZ 8 MB Cache
MSI Computer Corp. Motherboard ATX DDR3 1333 LGA 1150 Motherboards
Cooler Master HAF 912 - Mid Tower Computer Case with High Airflow
Windows 7 Home Premium SP1 64bit (OEM) System Builder DVD 1 Pack
Logitech Desktop MK120 Mouse and keyboard Combo
6FT SVGA VGA Monitor MM Male To Male Extension Cable 80
Acer G236HL Bbd 23-Inch Screen LCD-Lit Monitor

Total Cost: $1000.00

This is not a bad desktop in general let alone a miner. You could quite easily just set the miner to use 7 threads instead of 8 and using the additional core have a decent desktop. Plus it has 1TB of storage so it could also be used as a backup system + mining.

The total cost of $1000 is required via paypal + you must pay for shipping from my house to yours (you can pay for as fast shipping as you would like).