Search content
Sort by

Showing 10 of 10 results by aarqa
Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Snowballs | Do you have BALLS for a ROLLERCOASTER!? | HARD FORK - UPDATE!!
by
aarqa
on 22/11/2014, 06:19:12 UTC
Staking is just like mining. Just because you are eligible to stake doesn't mean you will immediately. This is not unique to BALLS, it is how every coin works


i stake a few other coins, im not saying it had to stake 24 hours on the dot, but 3-4 days as appose to 1? im guessing my assumption is right in that it has to do with the difficulty

If you only stake once every few days, you will stake for a much larger amount than if you staked everyday. Stake weight is based on amount of coins and coinage

The staking yield is calculated on a per year average. Trying to monitor it day to day will be frustrating and inaccurate

I'd rather it staked every day.  Compound interest adds up.  Compounding more often adds up faster.
Post
Topic
Board Service Announcements (Altcoins)
Re: Win upto $200 in free Dogecoins every hour!
by
aarqa
on 24/10/2014, 07:35:32 UTC
My second and third favorite faucets!  Keep up the good work!

(my favorite is likely to remain moonbit.co.in unless I happen upon a $200 roll)
Post
Topic
Board Service Announcements
Re: BitcoinWisdom.com - Live Bitcoin/LiteCoin Charts
by
aarqa
on 05/09/2014, 21:24:08 UTC
Why would you not have cryptsy on there?  I realize it's not that popular with some people, but it is a busy exchange and whether I like them or not I want that chart!

Or perhaps you've hidden it somewhere?  It's not in the market drop-down list, which is where I'm looking.
Post
Topic
Board Service Announcements (Altcoins)
Re: Scrypt.CC | Scrypt Cloud Mining
by
aarqa
on 15/07/2014, 01:24:09 UTC
Some people on here don’t seem to understand the math that’s going on, so I’m going to make it very simple.
It’s April 11, 2014.  You invest in 1000 kh/s, costing you 1.55 btc. 
4/11   .0064 btc   4/12   .0070 btc   4/13   .0063 btc   4/14   .0055 btc
4/15   .0067 btc   4/16   .0073 btc   4/17   .0075 btc   4/18   .0074 btc
4/19   .0071 btc   4/20   .0075 btc   4/21   .0071 btc   4/22   .0108 btc
4/23   .0073 btc   4/24   .0074 btc   4/25   .0071 btc   4/26   .0057 btc
4/27   .0063 btc   4/28   .0057 btc   4/29   .0064 btc   4/30   .0055 btc
5/1   .0048 btc   5/2   .0042 btc   5/3   .0041 btc   5/4   .0041 btc
5/5   .0043 btc   5/6   .0049 btc   5/7   .0049 btc   5/8   .0047 btc
5/9   .0041 btc   5/10   .0042 btc   5/11   .0041 btc   5/12   .0041 btc
5/13   .0043 btc   5/14   .0041 btc   5/15   .0040 btc   5/16   .0037 btc
5/17   .0037 btc   5/18   .0037 btc   5/19   .0037 btc   5/20   .0037 btc
5/21   .0040 btc   5/22   .0040 btc   5/23   .0038 btc   5/24   .0037 btc
5/25   .0036 btc   5/26   .0039 btc   5/27   .0037 btc   5/28   .0033 btc
5/29   .0032 btc   5/30   .0031 btc   5/31   .0029 btc   6/1   .0028 btc
6/2   .0025 btc   6/3   .0023 btc   6/4   .0022 btc   6/5   .0022 btc
6/6   .0021 btc   6/7   .0020 btc   6/8   .0020 btc   6/9   .0019 btc
6/10   .0020 btc   6/11   .0019 btc   6/12   .0019 btc   6/13   .0020 btc
6/14   .0020 btc   6/15   .0021 btc   6/16   .0020 btc   6/17   .0021 btc
6/18   .0020 btc   6/19   .0020 btc   6/20   .0020 btc   6/21   .0020 btc
6/22   .0018 btc   6/23   .0021 btc   6/24   .0019 btc   6/25   .0021 btc
6/26   .0021 btc   6/27   .0021 btc   6/28   .0022 btc   6/29   .0021 btc
6/30   .0020 btc   7/1   .0019 btc   7/2   .0019 btc   7/3   .0018 btc
7/4   .0017 btc   7/5   .0011 btc   7/6   .0013 btc   7/7   .0011 btc
7/8   .0009 btc   7/9   .0009 btc   7/10   .0008 btc   7/11   .0008 btc
7/12   .0010 btc   7/13   .0009 btc   7/14   .0008 btc

Now it’s July 14, 2014.  Your original investment of 1000 kh/s is now worth 0.28 btc.  The rewards you have received are 0.34 btc.  You have paid 1.55 btc and after 3 months your investment is worth 0.62 btc.  You have lost 0.93 btc.

IF..and it’s a big ‘if’…IF the rewards stay at 0.0010 and the price stays at 0.00028 khs/btc, it’s going to take you 930 days to break even.  If the price and rewards continue to drop at the rate they’ve been dropping, you cannot make your original investment back. 
If both the price and the reward somehow reverses the trend and doubles from what it is today, your 1000 kh/s are worth 0.68 btc, putting you at a loss of 0.65 btc.  With rewards of .002 btc/day, that’s still 325 days to break even.

The rewards keep dropping.  Consistently.  The price keeps dropping.  Consistently.  There is nothing to indicate that the price or rewards will reverse their trend.
Post
Topic
Board Announcements (Altcoins)
Re: [GPUC] GPU Coin
by
aarqa
on 10/03/2014, 23:09:01 UTC

Tax: CEO already posted the thing about taxes: GPUcoin is considered as a commodity and when you buy GPU with GPUC, you are exchanging commodity with commodity, it is tax free.


For those in the USA, that is very dangerous advice.  A graphics card is NOT a commodity, it is a realization of gain on the investment of the cryptocurrency being used to exchange.  Your costs to acquire GPUcoin is considered your basis, and any difference between your cost to acquire and the cost of the card is a gain.

I suggest further reading here.  http://www.reddit.com/r/Bitcoin/comments/1uccfz/i_am_a_tax_attorney_here_are_my_answers_to_the/

Despite the fact he's a tax attorney who arguably could be looking for clients, my own tax accountant his given me similar advice as well.


OK, so buy gold with your coins.  Commodity for commodity.
Post
Topic
Board Altcoin Discussion
Re: If/when scrypt asics take over, what coin will GPU miners switch to?
by
aarqa
on 10/03/2014, 08:57:38 UTC
Scrypt asics are coming, no doubt. I realize they probably won't push GPU mining out of the picture for many months still, BUT, I think eventually scrypt asics will make GPU mining unprofitable. My question is, which coin will GPU miners switch to? What's your best guess? It looks like VERT, but I know there are more knowledgeable people than me on this board and I would appreciate some opinions. Thanks!

Trust me scrypt ASICs will not have that much of an impact.

The first BTC ASICs were 500000 time more profitable than GPUs (KHs per $).  Scrypt ASICs are only 2 times more profitable than GPUs at best.  So the impact will be negligible.

They will, indeed, have an impact.  But not because of the ASICs themselves.  It will be because of peoples' perceptions. 

There are people who seem to desperately want ASICs to arrive, thinking that they will have the same impact as ASICs for bitcoin.  They will buy the ASICs without doing the math.

There are also people who desperately do not want ASICs to arrive, thinking that they will have the same impact as ASICs for bitcoin.  They will switch coins thinking their profits are going to get ruined from ASICs.
Post
Topic
Board Altcoin Discussion
Re: The simple question that answers the future of alternative cryptocurrencies
by
aarqa
on 09/03/2014, 18:14:18 UTC
This is all aimed at miners though.

Who gives a damn about miners?

The only thing that makes miners important is securing the blockchain.

So ask whether people will prefer to use an insecure currency, one whose blockchain cannot be secured because any stupid meme can pop up overnight with more hashing power than it has, or a secure blockchain, one that is not vulnerable to a bunch of idiot kids armed with CPUs and GPUs ?

Years ago it was realised that blockchains are almost impossible to secure; even with merged mining they were not certain they could get enough hashing power to be secure; so they moved to Open Transactions for now until they have enough transaction fee volume to feel confident they could obtain enough miners if they moved back to a blockchain format. Since now new things other than blackchains are being tested maybe they will not ever need to use blockchains.

Look how well they have done in the years since: http://galaxies.mygamesonline.org/digitalisassets.html

-MarkM-


Why, yes, it is aimed at miners.  And since one of the main points of digital currencies was to have something decentralized, and since ASICs tend to make things more centralized, we should all care about GPU miners.  GPU miners are more important than just securing the block chain, they are important because they keep it decentralized.

If we follow your train of logic, all cryptocurrencies should go away except for bitcoin because they might "have enough hashing power to be secure".  And look how decentralized that is.
Post
Topic
Board Altcoin Discussion
Topic OP
The simple question that answers the future of alternative cryptocurrencies
by
aarqa
on 09/03/2014, 08:36:04 UTC
ASICs will come.  They might not be that powerful, but they will come because people will buy them.  People will buy them because they remember or read what they did for bitcoin and will hope for the same thing with scrypt coins.

By the same token, gpu miners who don't want to pay for ASICs will remember what bitcoin did to gpu mining.  Even if they are not that powerful, many people will panic.

So the question is this: What will gpu miners do when ASICs get here?  If they think ASICs are peeing in their pool, what do you think they will do?  Do you think they will just give up, sell their mining equipment and say they had a good run?  Or do you think they will find something more resistant to ASICs, such as Nscrypt?

Your answer to that question should guide your future strategy.

Consider this, also: you can say that ASICs manufacturers will just design newer ASICs to mine Nscrypt.  And you may be right.  But new algorithms can be written and distributed faster than new ASICs can be designed, tested and distributed.  New algorithms can be written and distributed much, much faster.  ASICs cannot keep up.  A very possible scenario is that ASICs will get here, people will leave regular scrypt coins, and ASICs designers will start to see that they can't keep up.  And at that point new ASICs design will sputter and die.

You may come up with different answers to how people will react to scrypt ASICs.  Let your answer guide you in the future.
Post
Topic
Board Announcements (Altcoins)
Re: [GPUC] GPU Coin | Block 2600 ETA Sunday 14:00 EST
by
aarqa
on 09/03/2014, 05:58:22 UTC
There seems to be something I'm missing, here.  Block reward goes up at block 2600.  Site says that's in an hour.  It's only going to be around block 1300 in an hour.

What am I missing?
Post
Topic
Board Announcements (Altcoins)
Re: [PRE-ANN] H2O 2BILLION coins in total +Adaptive -N / KGWell. Are you thirsty?
by
aarqa
on 05/03/2014, 04:14:05 UTC
just use scrypt

scrypt N  is actually not that important.

The hell it's not!!  If/when asics get to scrypt, people with GPUs are going to scramble for N-scrypt.