How many PTS do you have

[smokim11]

I found 2 blocks on my first ~3-4 days of mining Protoshares, but nothing in the last week or so, but ah well, I can't complain, especially with how the value is doing already

I wish I caught this on its first few days but caught alittle earlier than alot others and made a small but nice amount of PTS. My plan is to hold onto them as a long term investment. Will continue mining when PTS value hit 20$ hoping really soon.

@bytemaster

People using cloud mining might not stop mining as alot of people aren't selling their PTS right now instead the money they are spending on cloud mining is sort of a long term investment hoping PTS follows in BTC footsteps.

I believe it will in just 2 weeks PTS value is double LTC and its still possible to mine on your computer with difficulty being relatively low compared to the difficulty of BTC and LTC.

[bytemaster]

I found 2 blocks on my first ~3-4 days of mining Protoshares, but nothing in the last week or so, but ah well, I can't complain, especially with how the value is doing already

Yeah, a free $1000 for you

[Pocket Sand]

I found 2 blocks on my first ~3-4 days of mining Protoshares, but nothing in the last week or so, but ah well, I can't complain, especially with how the value is doing already

[legitnick]

 

[bytemaster]

Sure you may only get 1 PTS per day now, but.....

That doesn't bother you? To go from a decent amount mining to almost nothing in a time span of less than 2 weeks?

Botnets and cloud farms are going to kill small cryptos. Most people are looking to get in on the ground floor of something. If you give them diddly squat why should they care? I can't compete against some cloud farmer. Maybe I should join your mining pool and pay you a percent of my profits? No thanks. I'm going to stick with trading BTC / LTC and give up PTS mining.

Good luck.

Great!  More opportunity for the other miners     If you cannot tell that these are undervalued by about 10x right now and buying them up then I cannot help you.   

[ken]

Sure you may only get 1 PTS per day now, but.....

That doesn't bother you? To go from a decent amount mining to almost nothing in a time span of less than 2 weeks?

Botnets and cloud farms are going to kill small cryptos. Most people are looking to get in on the ground floor of something. If you give them diddly squat why should they care? I can't compete against some cloud farmer. Maybe I should join your mining pool and pay you a percent of my profits? No thanks. I'm going to stick with trading BTC / LTC and give up PTS mining.

Good luck.

[ken]

I totally agree with you, I just don't see how you prevent people from doing that.   If you don't require GPUs or powerful hardware than its easy and very cheap to rent cloud computing capacity.   I think the only way you could do this is if you had people register to be miners before they can participate in the system and have per individual caps.  Then you'd have botnets and cloud farms having to hire warm bodies to expand the number of human miner identities they can be maxing out. Genuinely this is hard problem but I think we are making progress through experiments like PTS

I say you base it off IP address or hash rate. More than X number of connections coming from IP? Banned. Greater hash rate than Y? Banned. Make it interesting for the small guy for awhile so that he doesn't lose interest in mining a new coin. Let the cloud farmers stick to XPM or LTC.

[andhar]

Thanks, bytemaster. Seems like the forum could need your positive words

[bytemaster]

Everyone who was following our news letters and company closely and started mining within the first 24 hours has at least one block worth $300.   
Everyone who started mining in the second day probably has half a block worth $150
Everyone who started mining in the third day probably has a quarter a block worth $75

I don't know about you, but that seems like a pretty good deal, especially when PTS reaches the market cap of Mastercoin you can add a 0 on to each of the above numbers.   

Sure you may only get 1 PTS per day now, but in a month that will be like $60/day if you hold it.   I would wager that if you mine consistently for the next month you will have at least $500 worth of PTS per machine.   

Also, as the difficulty rises the cost effectiveness of cloud computing falls which means that individual users can start to make money mining again.   As long as your profits are above your electric costs you are good to mine!   

Perhaps if I had shifted the decimal a few places you would feel better.

[Lighthouse]

I think it should be noted that most of the "professional miners" are normal people who rented a bunch of servers from amazon and played arbitrage between the prices and the value of PTS.  I would challenge you to find me a "professional miner" with a dedicated farm of computers in their basement mining PTS, I think most of the bulk is rental from the cloud.

Either way, it kills the interest level. On Nov. 5th I was all excited about this and looking forward to months of slow steady growth. Two weeks later it's all gone. The average guy at home has no chance and the interest level for me has plummeted. I figured all the new miners would be able to get a couple of thousand PTS to play around with. Instead, you have most guys with a few PTS (or none at all) and others hoarding tens of thousands and driving the diff up so high that nobody else can compete. Whatever. Have fun.

I'm out. I'll check back next year to see where this project is.

I totally agree with you, I just don't see how you prevent people from doing that.   If you don't require GPUs or powerful hardware than its easy and very cheap to rent cloud computing capacity.   I think the only way you could do this is if you had people register to be miners before they can participate in the system and have per individual caps.  Then you'd have botnets and cloud farms having to hire warm bodies to expand the number of human miner identities they can be maxing out.

Genuinely this is hard problem but I think we are making progress through experiments like PTS

[ken]

I think it should be noted that most of the "professional miners" are normal people who rented a bunch of servers from amazon and played arbitrage between the prices and the value of PTS.  I would challenge you to find me a "professional miner" with a dedicated farm of computers in their basement mining PTS, I think most of the bulk is rental from the cloud.

Either way, it kills the interest level. On Nov. 5th I was all excited about this and looking forward to months of slow steady growth. Two weeks later it's all gone. The average guy at home has no chance and the interest level for me has plummeted. I figured all the new miners would be able to get a couple of thousand PTS to play around with. Instead, you have most guys with a few PTS (or none at all) and others hoarding tens of thousands and driving the diff up so high that nobody else can compete. Whatever. Have fun.

I'm out. I'll check back next year to see where this project is.

[kilwar]

A big fat goose egg here

[Lighthouse]

It's not anyone's fault, it's just a fact that i missed the initial launch and with increasing difficulty over time i won't even be able to mine a hundred coins in a year

The amazing part (for me) was that it took less than 2 weeks. I figured there might be some mining opportunities here for a few months. As soon as the professional miners stepped in it was like that Southpark episode:

I think it should be noted that most of the "professional miners" are normal people who rented a bunch of servers from amazon and played arbitrage between the prices and the value of PTS.  I would challenge you to find me a "professional miner" with a dedicated farm of computers in their basement mining PTS, I think most of the bulk is rental from the cloud.

[ken]

It's not anyone's fault, it's just a fact that i missed the initial launch and with increasing difficulty over time i won't even be able to mine a hundred coins in a year

The amazing part (for me) was that it took less than 2 weeks. I figured there might be some mining opportunities here for a few months. As soon as the professional miners stepped in it was like that Southpark episode:

[iruu]

I'm all new to cryptocoins anno 2013. I have no BTC and with BTC on the rise it's not the right time to buy just to be able to buy PTS. That's a lose-lose battle right now. I wish there was a USD->PTS Exchange available.

BTC doesn't rise THAT fast, you can buy btc then pts in one hour or less.