What's your theory?

ErrorId

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Mar 9, 2014
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With news such as this what do you think will happen to DRK when these get into the hands of people and start hashing? What do you think all the GPU miners will do? http://techcrunch.com/2014/03/20/kn...orth-of-scrypt-mining-machines-in-four-hours/

I'm currently mining DRK and holding. I have been thinking about investing a bit of cash into hardware but after doing the math it doesn't look good. I will be much better off if I put that money directly into DRK. Especially with the hike in difficulty that is bound to happen when some of the these miners find DRK.
 
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Lzeppelin

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Feb 27, 2014
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With news such as this what do you think will happen to DRK when these get into the hands of people and start hashing? What do you think all the GPU miners will do? http://techcrunch.com/2014/03/20/kn...orth-of-scrypt-mining-machines-in-four-hours/

I'm currently mining DRK and holding. I have been thinking about investing a bit of cash into hardware but after doing the math it doesn't look good. I will be much better off if I put that money directly into DRK. Especially with the hike in difficulty that is bound to happen when some of the miners find DRK.
I think think this will cause miners to jump on darkcoin and since the block reward gets smaller as difficulty gets higher DRK will became more rare. I expect this to cause price to explode!
 
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TanteStefana

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Don't buy any equipment, just buy the coin. It's already at the point where you won't get your money back on anything you buy now. This coin will be attractive to those who already own the equipment, though, and I will be glad when I can't make sense of mining anymore so I can return to gaming, LOL. I've been mining on my little computers now 3 months, and really want to stop, but can't!
 

ErrorId

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Mar 9, 2014
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I hear ya on the mining and gaming. I stopped playing games altogether since the middle of February when I found DRK. Oh well when it no longer makes sense to mine I'll have more games to play. For now though I'm letting the DRK flow.
 
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FreeOne

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Once GPU rigs are no longer profitable for Scrypt, it's obvious to me GPU Miners will flock to ASIC resistant coins like Myraid, DarkCoin, Vertcoin, and probably a whole pile of new clones. I don't think that ASIC's are going to ROI very well. Maybe for the first lucky people that get them shipped.
 

TanteStefana

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yah, I bought my asic in January, mid I think, and I'll never mine enough bitcoin to pay for it, lol, but I was brand new and thought what the heck? Hopefully the drk I buy with the bit I mine will someday pay for the thing, LOL Still having fun though :)
 

MrMime

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Mar 9, 2014
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Me and a friend split a share on a Titan group buy order last week. Mining is such a risky venture, but fun to know that you're part of something revolutionary. I broke down and reinvested some of my profits from my BFL ASIC into a gpu mining rig especially for Dark Coin. It's a fun hobby, and I also enjoy gaming (although I hardly ever get to do that anymore with school + work), so it's really easy to convince yourself oh hey, I can drop a few BTC's on a mining rig and then end up with a decent gaming rig once the marginal costs exceed daily revenue. I see some guys on my pool with 1.2 Gh/s for Dark mining and shat bricks. At least I'm not as deep risk wise as others are.

The whole ASIC resistant mining is pretty neat too. I figure might as well jump on such a novel idea for a coin, and contribute to transaction security. If I break even and profit a little, than awesome! If not, then at least I have a kick ass gaming rig for much cheaper than if I didn't mine on it.
 

vertoe

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Mar 28, 2014
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Well, my two satoshis:

1. scrypt asics are more profitbale (and will be) than sha asics ever promised to be. i'm currently using gridseeds on some coins and they actually have a chance to break even. (which sha asic ever did?^^)... one of the reasons is, there are multiple profitable and promising coins in the scrypt sector and the power will split up.
2. no coin is asic-resistant except primecoin (primecoin really is!). every coin is only resistant as long it is not profitable enough to create specialized asics for it. do you remember the times when we thought litecoin was asic-resistant? :)
 

fra55

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Mar 26, 2014
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ASIC miners are the reason why I moved to DRK.

Anyway, ASIC miners are not shipped yet, as far as I know. In my opinion, it is important to invest in DRK now before gpu miners attention will be driven towards Dark.
I'm about to buy one or two video cards to mine DRK, but one of them will replace my old 6850. No major investment so far for mining
 

FreeOne

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Mar 28, 2014
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Well, my two satoshis:

1. scrypt asics are more profitbale (and will be) than sha asics ever promised to be. i'm currently using gridseeds on some coins and they actually have a chance to break even. (which sha asic ever did?^^)... one of the reasons is, there are multiple profitable and promising coins in the scrypt sector and the power will split up.
I dunno about that. That's pure speculation. "Have a chance to break even", doesn't really sound all that promising.

Well I will speculate from the other angle, (just to play devil's advocate, I'm super interested if you'll make your return on your gear).

Yeah there are multiple coins, but many that don't have any unique thing about them or don't have a mass following may get destroyed by all the hash power coming onto the market. If someone gets their hands on a few ASIC and let's say he holds lots of LTC, he could go around destroying other alts, before everyone has there 250 MH miners online.

The amount of profits doesn't go up because you have more computing power... the block reward is always the same. I did a calculation the other night... and it went something like this:

For LTC:
576 block rewards in one day
50 ltc per block

576 * 11.71 (current LTC price) = 6744.96 per day in available profits.

9 (months before the LTC reward halves to 25) X 30 (rough avg days in a month) x 6744.96 = $1 821 139...

KNC has preorders of $25 million dollars... sure LTC doesn't represent the whole market (nor does KNC!), but it's got to be a huge percentage.

As more ASIC's come online profits will be super slim and be based on the cost of electricity alone.
 

FreeOne

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Mar 28, 2014
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A couple of interesting things I read about ASIC's today. LTC is having a bit of a crisis as a community as some other developers might try to hard fork to X11.
https://bitcointalk.org/index.php?topic=549592.0
https://litecointalk.org/index.php?topic=18166.0

An interesting discussion on Reddit about KNC using their miners to profit.
http://www.reddit.com/r/Bitcoin/comments/2182nb/kncminers_ceo_sam_cole_dumping_bitcoins_worth/

It's a very interesting time for Alt-Coins.

Personally all my GPU's are pointed at DarkCoin now. I don't think it's the most profitable thing to do, but I like the coin...
 

LazarusLong10

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Mar 26, 2014
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That's really interesting about LTC possibly hard-forking to X11. I don't know how serious they are about it, but if they did it would make me so happy... especially if it happened on the day the first scrypt ASICS came out.
 

FreeOne

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Mar 28, 2014
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Here's a link... https://bitcointalk.org/index.php?topic=549572.0

There is also a vote which is very in favour of forking. Note, it's not the LTC devs that want to fork, it's some other Devs... interesting way to create a new currency, but kinda scary.

Not sure if I should sell my 25 LTC at this point; maybe just hold it since it's not that much, if it was more I'd probably sell at least half.

;)
 

fra55

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Mar 26, 2014
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Here's a link... https://bitcointalk.org/index.php?topic=549572.0

There is also a vote which is very in favour of forking. Note, it's not the LTC devs that want to fork, it's some other Devs... interesting way to create a new currency, but kinda scary.

Not sure if I should sell my 25 LTC at this point; maybe just hold it since it's not that much, if it was more I'd probably sell at least half.

;)
I can't open the link, what's the topic title?
Thanks
 

fra55

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Mar 26, 2014
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Well it seems they are moving to X-11 , but the forking is unofficial...so it will be no more LTC but a new coin
 

FreeOne

Member
Mar 28, 2014
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Probably be a bit of a LTC war I think. Or a LTC and a LTC x11. It will definately be a mess. I just sold all my LTC.

I figure it's better to have it in BTC, since the only real difference between LTC and BTC is LTC has a faster confirmation time and less of a following.
 

FreeOne

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Mar 28, 2014
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I'm guessing if you have LTC, they will maintain the blockchain so you will have LTC-asic vs LTC-gpu and you will have the same LTC in both when it forks... but likely there will be a battle for the hearts and minds and one or both will get destroyed.
 

fra55

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Mar 26, 2014
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Probably be a bit of a LTC war I think. Or a LTC and a LTC x11. It will definately be a mess. I just sold all my LTC.

I figure it's better to have it in BTC, since the only real difference between LTC and BTC is LTC has a faster confirmation time and less of a following.
I agree. I will wait to see what's going on with LTC, it seems like the majority of LTC owners on Bitcointalk wants a new coin asic-resistant, but it can't be LTC...moreover, prices will stay low since no asic miners will arrive on the market for X-11 algorythm
 
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FreeOne

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^ Is it wrong that I enjoy watching it? If this Dev is serious about forking it, it could be a LTC bloodbath, which I find fascinating to watch.

I honestly don't see much value or innovation in LTC. It was the first Alt-Scrypt Coin and that's about it. Just because it was invented in 2012 or whatever, doesn't make it better than say something like DRK.

LTC was the first coin I was into, but I don't really understand it's appeal anymore.

It's amazing how emotional we get about these coins.
 

24601

New Member
Mar 22, 2014
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I'm torn about ASICs. I actually think bitcoin having a huge network hash rate secured with ASICs as a good thing, but on the other hand the '1 cpu = 1 vote' idea is something worth preserving in a coin.
 
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LimLims

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Mar 13, 2014
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I don't see how an unofficial hardfork can be anything but bad for litecoin. Which makes me wonder about the motivations of the instigator.
 

LazarusLong10

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Mar 26, 2014
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Sounds like they aren't going to do it. They realize that a hard fork would be suicide unless almost everyone went along with it, and that even if they did it would only delay the inevitable in terms of ASIC mining. People who want an ASIC resistant litecoin will just mine Hirocoin (though its hard to imagine why anyone would prefer that to DRK.

This does raise the question, if DarkCoin really blows up, there could be x11 ASICS on the horizon. Would we hard fork to ward them off? My vote would be yes! But only if the dev's were on board...
 

fra55

Member
Mar 26, 2014
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Sounds like they aren't going to do it. They realize that a hard fork would be suicide unless almost everyone went along with it, and that even if they did it would only delay the inevitable in terms of ASIC mining. People who want an ASIC resistant litecoin will just mine Hirocoin (though its hard to imagine why anyone would prefer that to DRK.

This does raise the question, if DarkCoin really blows up, there could be x11 ASICS on the horizon. Would we hard fork to ward them off? My vote would be yes! But only if the dev's were on board...
Well if Darkcoin will, in the future, be mined by ASIC machines, this will mean that it has become an important coin and your drk will be worth a lot
 

LazarusLong10

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Mar 26, 2014
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True, but it will also be vulnerable to a blacklist attack. Decentralization is important, and I think GPU mining is enough to discourage botnet attacks. Plus, I like mining!
 

the_darkness

New Member
Mar 22, 2014
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Sounds like they aren't going to do it. They realize that a hard fork would be suicide unless almost everyone went along with it, and that even if they did it would only delay the inevitable in terms of ASIC mining. People who want an ASIC resistant litecoin will just mine Hirocoin (though its hard to imagine why anyone would prefer that to DRK.

This does raise the question, if DarkCoin really blows up, there could be x11 ASICS on the horizon. Would we hard fork to ward them off? My vote would be yes! But only if the dev's were on board...
Evan has stated on the bitcoin forum that he would not try to prevent this if someone went to the trouble of doing this but that it is likely very far off given how big x11 would have to get before anyone would bother trying.
 

BostonStrong617

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May 20, 2014
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Why would anyone possibly want an ASIC resistant coin? GPU is noisy, hot and expensive to power. Cryptocurrency is supposed to be 'the future' and I think the technology should be too. As long as they create ASIC hardware that's affordable for hobbyist I only see it as the right way to go.
 
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BostonStrong617

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May 20, 2014
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Here's a good article on the subject. After reading this I understand more now about GPU miners resisting ASIC. It's seems to me that GPU mining is a subculture that's very anti-ASIC as if ASIC miners are the corporate enemy. My theory is that anyone of us can slowly grow an ASIC mining farm and make money in that space too. If not, we still have the choice to stick with GPU and do well with ASIC resistant coins. I only wish GPU mining wasn't so expensive to power. The only reason I'm even considering GPU mining is for darkcoin, otherwise I'm mining with ASIC-SCRYPT.
http://www.corsair.com/en-us/blog/2014/april/are scrypt asics the end of gpu mining