Author Topic: Dedicated Protoshare Mining Rigs  (Read 8518 times)

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Offline TheLostViking

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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.

Offline recci

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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.

Offline 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.
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Offline recci

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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?

Offline frankthedog

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@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?


Offline luckybit

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If its all going to be Proof of Stake how will we get shares in the new DACs if they aren't mined?
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Offline 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).
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Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline 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?   

« Last Edit: December 03, 2013, 06:24:20 am by fuznuts »
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Offline 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.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline rizq

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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?

Offline 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.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline rizq

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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.

Offline 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. 
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline smiley35

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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?

Offline bitshirehashaway

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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 :)