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Re: ★★ DigiByte ★★ [DGB] A Professional Cryptocurrency ✈ Android Wallet, CoinedUp ✔
I just burned out my 6870 mining digibytes 
I've been mining every night since the day after launch. Guess i should have watched my temps a little better. Now I need the prices to go up if I want to replace it. No more mining for me 
I have faith in digibyte though, and im sure it will eventually be enough to replace my card so i can mine even more! 
edit: spelling stuff
I've been mining every night since the day after launch. Guess i should have watched my temps a little better. Now I need the prices to go up if I want to replace it. No more mining for me I have faith in digibyte though, and im sure it will eventually be enough to replace my card so i can mine even more! edit: spelling stuff
Re: Mining is technically the industrial revolution of the computer age
Mining underlies (basically) the same risk as any other type of investment in my opinion. As Cryptocurrencies are still not approved as payment mehtod by many Countries, there is a large risk of exchange rate fluctuations as we currently see very well when looking at Bitcoin. China says "NO", BTC drops. Starbucks (or any other company for example) says "YES", exchange rate climbs up, altough not with similar impact as if a whole country would accept a coin as a valid currency. High Risk => High Payout/Loss
Industrial revolution? - Maybe. Most Coins are based on Hashing Proof-of-Work algorythms that don't actually generate something thats usefull for other aspects of our everyday life. But there are some coins which have at least the right approach, Primecoin for example. Altough I personally have no real benefit from knowing a Prime number with 300 Million digits, these numbers are at least usefull for Sercurity systems as long as the master pattern for generating prime numbers won't be discovered.
I'm currently mining them too, as they are relatively safe from being overcome by GPUs or ASICs for at least the near future and allow for a stable payout expectation. This has - in my opinion - the additional advantage that I won't have to buy and build my own minign rigs, but that I can rent servers to participate on the calculation process instead.
But there is still a certain risk left, altough said aspects are very unlikely atm.
Industrial revolution? - Maybe. Most Coins are based on Hashing Proof-of-Work algorythms that don't actually generate something thats usefull for other aspects of our everyday life. But there are some coins which have at least the right approach, Primecoin for example. Altough I personally have no real benefit from knowing a Prime number with 300 Million digits, these numbers are at least usefull for Sercurity systems as long as the master pattern for generating prime numbers won't be discovered.
I'm currently mining them too, as they are relatively safe from being overcome by GPUs or ASICs for at least the near future and allow for a stable payout expectation. This has - in my opinion - the additional advantage that I won't have to buy and build my own minign rigs, but that I can rent servers to participate on the calculation process instead.
But there is still a certain risk left, altough said aspects are very unlikely atm.
I think you have it right. I think of it almost as the stock market. It has it's ups and downs, but in the long run it can either be very profitable. I think if you are just mining then the potential of loss is very small, maybe a higher electricity bill. Currently I just started mining digibyte after trying primecoin. My CPU just want enough to keep up. Digibyte is very new so the dificulty is still pretty low. Im not sure what the conversion rate is, but I have heard that it is supposed to be 1/1000th of bit coin. Right now that would be around 80 cents a coin. So if I mine a thousand coins (very easy) eventually that will be 800$. Now i am not expecting it to be anywhere that price. But you have to admit it is much nicer to have 1,000 coins in your wallet than .000000002.
Hey guys my first post here!
I thought that after trying several things last night, and finally getting it to work I would post a guide on how to mine digibyte on Digital Ocean.
Tutorial
1. Sign up for digibytes. https://www.digitalocean.com/
2. Fund your account. I used
3. Next your going to want to create your droplet. Ive tried using the 2 core one, but it was VERY slow, right now I am using the 8 core and it seems to work just fine. I guess when digibyte is added to exchanges whether or not i am making a profit....
4. Now in the control panel in the top right corner you are going to want to hit the button that says console acsess. Loging with the credentials that they emailed you.
5. The first thing to do is change your password to something that can be remembered. We do this by
6. Ok, lets get started by downloading everything we will need.
7. That should have downloaded the tools we need. Now let us download the actual mining program.
8. now we will compile it
9. Great, if you have gotten this far you are home free. Now we just need to execute the mining program.
That should be it. Let me know if you have any trouble and i will try to help. Thanks, and happy mining!
MOD NOTE:
Referral link removed
I thought that after trying several things last night, and finally getting it to work I would post a guide on how to mine digibyte on Digital Ocean.
Tutorial
1. Sign up for digibytes. https://www.digitalocean.com/
2. Fund your account. I used
Code:
OMGSSD10
for the promo and got ten dollars free. That should be enough to get you started the first couple days.3. Next your going to want to create your droplet. Ive tried using the 2 core one, but it was VERY slow, right now I am using the 8 core and it seems to work just fine. I guess when digibyte is added to exchanges whether or not i am making a profit....
4. Now in the control panel in the top right corner you are going to want to hit the button that says console acsess. Loging with the credentials that they emailed you.
5. The first thing to do is change your password to something that can be remembered. We do this by
Code:
passwd
remember this! If you forget it you will to my knowledge have to remake your droplet. 6. Ok, lets get started by downloading everything we will need.
Code:
sudo apt-get install libcurl4-openssl-dev libncurses5-dev pkg-config automake yasm make git
if you get an error go back through and install one by one using Code:
apt-get install
7. That should have downloaded the tools we need. Now let us download the actual mining program.
Code:
git clone https://github.com/pooler/cpuminer.git
8. now we will compile it
Code:
cd cpuminer
Code:
./autogen.sh
Code:
./configure CFLAGS="-O3"
That is not a zero three. It is the capital letter O. Code:
make
9. Great, if you have gotten this far you are home free. Now we just need to execute the mining program.
Code:
./minerd --url=your.minerpool.org:port --userpass=yourusername.worker:password
example for the pool I useCode:
./minerd --url=stratum+tcp://dgb.smalltimeminer.com:3348 --userpass=myname.worker:password
That should be it. Let me know if you have any trouble and i will try to help. Thanks, and happy mining!
MOD NOTE:
Referral link removed