Re: [ANN][SEED] SeedCoin | Buy/Mine SEED & Grow Coinbase | Mining Period Started
1) are miners the luckiest people in the world right now with this coin
or
2) did I (we) pay way too much for this coin during the ICO
I ask because I got in on the ICO and I am also a mining this coin right now.
In 12 hours mining with 260 MH/s of mining power I mined the equivalent of what I paid $275 for during the ICO.
and of course to put that in perspective - on a good day I would make $60 mining other coins with my 260 Mh/s --- so to think that I just made $275 mining SEED with my 260 Mh/s of mining power is very troublesome to say the least as an investor in this coin.
I never imagined it would be so easy for miners to mine the equivalent of what I paid so much for and we're only on block 880 right now....
this is not looking good...
or
2) did I (we) pay way too much for this coin during the ICO
I ask because I got in on the ICO and I am also a mining this coin right now.
In 12 hours mining with 260 MH/s of mining power I mined the equivalent of what I paid $275 for during the ICO.
and of course to put that in perspective - on a good day I would make $60 mining other coins with my 260 Mh/s --- so to think that I just made $275 mining SEED with my 260 Mh/s of mining power is very troublesome to say the least as an investor in this coin.
I never imagined it would be so easy for miners to mine the equivalent of what I paid so much for and we're only on block 880 right now....
this is not looking good...
Was block 880 a typo because both the wallet and the pools I looked at said 855?
We're on Block 856 now
I think that makes his point worse as there is more blocks to come, however to answer I think it depends when you bought in... the first day or the last day.
Also depends if you rented a rig, A) how much you paid per GH and B) if it produced. One miner I rented on Betarigs was a 300 MH Rig and it was offline and never produced any hash so mining isn't without its complications. However Hopefully they will refund my money but I lost the opportunity and had my bitcoin tied up.
exactly - sorry about your experience on Betarigs - I have rented from them also in the past and it's hit or miss - especially with the one's that say "they're monitored' then YOU have to tell them their machine is down and not mining. My experience has been that most of the renters there will give you extra hours but that does not make up for lost opportunity when the difficulty was low when mining started. I grabbed two blocks in the first 5 minutes before network hash skyrocketed. IMHO - the value they have set on the coin right now warrants about least 80 to 100 Gh/s to make it much harder to get - but that's the investor in me speaking. My pool miners are thrilled the network hash is as low as it is because people with 4 and 5 Mh/s are still getting a piece of the pie.
ps: I got in very early, but it's still painful to see people accumulating coins with such little hash.
Ya... kinda makes sense... I believe that is because an exchange is not there at the moment. From what I hear, many people who are not familiar with mining want to buy but dont have any venue for it. Doing a bit of napkin calculation for mining.... With an average difficulty of 350, A 150 MH rig will mine 1 seeds in 24 hrs. The cost to rent a 150 MH rig for 24 Hrs is average .1 BTC (approx .00066 BTC/MH/day). This is more or less the ICO price for the first day. But this is only if the difficulty stays stready. If more miners come in, or if an exchange comes, the difficulty will sky rocket to 800 - 1000, making the mining even less cost effective than buying the ICO on the last day. Its all a delicate balance
