What is strange with my Hosted GridSpeed connected to Waffle East is my hash rate shows 0 but my Earned and unconverted keeps growing??? What the heck??
why dont you ask gridseed manages? 98.8% of people in here do not like your kind as much as thier first hangover.I have.. But if its a Pool issue its not their issue..
And yea I could see how people would not like me considering I am getting Free hosting including free electricity and Internet..
I dont care what people like or dont like..
Thanks
Miles
I dont work for them and dont want to get flamed by all the silly noobs on this site.
But it is GAWMiners Look them up if you want. They have been offering free hosting.. I got a 20 pack yesterday during the day, and was up and hashing last night
Why would anyone spend $2000 on 3000-3400MH/s of scrypt mining power when it will take over 200 days to recoup the hardware cost at today's script coin values -- even with free electricity thrown in on the deal? The writing is on the wall. The profitability of scrypt mining is on the decline. It will take much longer than 200 days to pay for that hardware, if you ever do. At some point gaw will just decide to ship that equipment to you for free in order to remain profitable themselves. Miners using GPUs will be able to switch to another algorithm to keep going for a little longer. but those gridseeds only become nice decorations.
The many mining booms in history (gold, silver, uranium, whatever) have shown that it is the suppliers to miners that earn the most profits from the boom. And in the case of cryptocoin mining, the electricity companies too!
Yes.. I was told this same thing when I got into GPU mining in Mid 2013.. Go figure..
I believe at the worst case, I will recoup.. But things change, pools evolve and I do believe some folks have been saying GPU mining has been dead since.. Oh lets see, early 2013???
So the ghost of profits past are coercing you invest more heavily in mining even as scrypt cryptocoin values are steadily decreasing? Obviously I cannot know the future, but neither can you. And if any of the profits you earned were from mining and holding, then those profits were actually from market speculation, and you might possibly have earned the same or more by simply buying cryptocoins instead of mining them and waiting for them to rise in value.
I never buy and hold.. IMO, that is one of the dumbest strategies.. But LOTS of people seem to believe in it.. Most of my profits have been made using a trading bot.. Buy low sell High.. Over and Over and Over again and while I sleep.. I know a lot of people still holding, when my bot sold at $1200
But I will admit I hit the timing just right when BTC went to $1400 last Nov.. But still I am WAY ahead of the game with the profits I have made so far..So admittedly, most of your profits originate from successful trading strategies, so any investment in mining hardware is a more akin to buying a lottery ticket, as you will almost certainly lose, but you might just hit it big. Given your past successes, you should likely concentrate your efforts in trading, and not dilute your focus with mining.
My Mining Feeds my Trading Balance.. I have been doing just fine but thanks for your insight.. As my Grandma use it say.. Opinions are like ass holes.. Everyone has one...
2000USD converted into cryptocoins would also have fed your trading balance quite well. My only point is this. With 3000-3400KH/s of gridseed hardware, you are guaranteed a 0% rate of return on your investment until you recoup hardware costs, perhaps in 200+ days, give or take. And then you will be in pure profit territory, if gaw continues to pay for your 72KWh consumed every month. But with a profitable trading strategy, you are losing out on immediate returns on $2000 otherwise allocated to gridseed hardware, and while each individual trading profit might be small, the cumulative effects of compounding might make that gridseed investment a losing proposition. It is your money and your risk and certainly entitled to choose any route you wish. I am just trying to collect as much information as I can and analyze all possibilities.
No Problem.. You make some good points.. All of which I already considered.. I just get a kick out of every time I see a post of "Doom and Gloom GPU and Alt Coins is dead". If I had a nickle each time I heard this, I would have made more from my nickles then my BTC profits.. I work in IT,since 1988, They were saying in 1988 Mainframes are dead and Programmers are dead and will no longer be needed.. 2014 and I am still waiting..