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Offline Riverhead

GPU Mining and the market price of PTS
« on: January 13, 2014, 04:19:49 PM »

I've noticed a steady drop in PTS price, down to about $12.60 now.  I wonder how much of this is due to the supply/demand curve getting changed by the appearance of GPU mining.  It used to take me forever to mine even 0.2PTS with CPU's.  However pointing my Scrypt rigs (~18MH) at pts.1gh.com I can make about 1.4PTS/block. Even with a string of crappy days the pool can find an average of about 5 blocks/day or for me that's about 7PTS/day.No wonder the price is dropping, the market is getting flooded.  Once the diff catches up I suspect this will change but for now it's a bit of a gold rush.

Offline Primecoindude

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Re: GPU Mining and the market price of PTS
« Reply #1 on: January 13, 2014, 07:29:11 PM »
Look at Primecoin the increase in difficulty had very little effect on the price, i think a few weeks is to short time.
I belive Angelshares have a larger impact on PTS prices right now then PTS difficulty or the introduction of gpu-miners.

Offline progmac

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Re: GPU Mining and the market price of PTS
« Reply #2 on: January 13, 2014, 07:36:18 PM »
I was going to buy some shares tomorrow but I think i'll wait another week to see what happens
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Offline 5chdn

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Re: GPU Mining and the market price of PTS
« Reply #3 on: January 13, 2014, 07:49:07 PM »
Yeah, it's great to see the markets flooded again, this was really needed.

This will be the last time you will get hands on cheap shares because the difficulty impact of the GPUs might make PTS unminable on CPUs and therefore you need to invest more to get hands on PTS ... its a good upcycling circle... prices will rise sooner than expected.

But again, keep in mind GPUminers are only one effect in the PTS network currently. The distribution of Angelshares are having another notable effect.

Offline Giga

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Re: GPU Mining and the market price of PTS
« Reply #4 on: January 13, 2014, 08:12:26 PM »
I think the prices are great atm, v good opportunity. I grabbed some PTS at $14 and plan to grab a few more soon.

Offline santaclause102

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Re: GPU Mining and the market price of PTS
« Reply #5 on: January 13, 2014, 11:36:24 PM »
when will this tho "flooding" be over?  When will the difficulty rate rise rise?

Offline robust8

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Re: GPU Mining and the market price of PTS
« Reply #6 on: January 14, 2014, 02:02:25 AM »
We will see in the future……

Offline santaclause102

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Re: GPU Mining and the market price of PTS
« Reply #7 on: January 14, 2014, 02:53:57 AM »
Sure :) But there must be some hard fact like when the difficulty increases or something...

Offline 5chdn

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Re: GPU Mining and the market price of PTS
« Reply #8 on: January 14, 2014, 08:35:25 AM »
The network hashrate keeps decreasing and the diff is decreasing too, ...

... there wont be any flooding soon.

Offline maqifrnswa

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Re: GPU Mining and the market price of PTS
« Reply #9 on: January 14, 2014, 10:50:55 PM »
AGS paying bounties in PTS causing a dip more than GPUs. Now PTS is backed by work done, so investors can price out how much they are willing to pay for a bounty (and how much a bounty increases project equity) in fiat and make purchases/sales accordingly.
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Offline mav2000

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Re: GPU Mining and the market price of PTS
« Reply #10 on: January 15, 2014, 03:41:56 PM »
I dont know whats happening, but PTS has been falling like a rock for a few days now. I hope it goes back up. But anywhere between 1/2 to 3/4 value of Litecoin would be awesome. Its around half of litecoin as of now.

Offline bytemaster

Re: GPU Mining and the market price of PTS
« Reply #11 on: January 15, 2014, 05:31:26 PM »
All things considered PTS is holding steady at #8 on coinmarketcap.   
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Offline luigi1111

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Re: GPU Mining and the market price of PTS
« Reply #12 on: January 15, 2014, 10:16:06 PM »
By all appearances, GPUs have had a negligible impact on net processing power. We're still set to drop next difficulty change.

http://mrx.im/pts.php

Also, I think you have the answer in your post: your 18 MH rig is making you less than $100/day on PTS, while you could almost certainly be making more than that mining, well, scrypt.

Why would I mine PTS with an AMD GPU? NVidia is a different story, but again, it does not appear to have affected much.

Anyway, if we believe in what's going on here, we should appreciate this buying opportunity, right?

Offline 5chdn

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Re: GPU Mining and the market price of PTS
« Reply #13 on: January 15, 2014, 10:42:30 PM »
By all appearances, GPUs have had a negligible impact on net processing power. We're still set to drop next difficulty change.

http://mrx.im/pts.php

Also, I think you have the answer in your post: your 18 MH rig is making you less than $100/day on PTS, while you could almost certainly be making more than that mining, well, scrypt.

Why would I mine PTS with an AMD GPU? NVidia is a different story, but again, it does not appear to have affected much.

Anyway, if we believe in what's going on here, we should appreciate this buying opportunity, right?

Yeah why waste GPUs if there is still Cachecoin :)

Offline santaclause102

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Re: GPU Mining and the market price of PTS
« Reply #14 on: January 15, 2014, 11:20:01 PM »
By all appearances, GPUs have had a negligible impact on net processing power. We're still set to drop next difficulty change.

http://mrx.im/pts.php

Also, I think you have the answer in your post: your 18 MH rig is making you less than $100/day on PTS, while you could almost certainly be making more than that mining, well, scrypt.

Why would I mine PTS with an AMD GPU? NVidia is a different story, but again, it does not appear to have affected much.

Anyway, if we believe in what's going on here, we should appreciate this buying opportunity, right?

Did I get that right, that difficulty will go down again at "Time to retarget: 8d 01:08:19 (2014-01-24 09:25:03 UTC+9)"? And this potentially makes the price drop a little?

 

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