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Old 26th Jan 2014, 02:00   #1
Boomstick777
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CUDACoin Effective Nvidia CUDA Mining Finally Here. Protoshares Update Could Signal the End of AMD Mining Monopoly

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[Editorial] Something very interesting happened in the far reaches of the internet. A seemingly insignificant update of a Cryptocurrency called Protoshares made its rounds on the other side of clearnet. The update you see, opened up the full power of CUDA. AMD GPUs are very low on stock thanks to Litecoin, but there is an abundance of Nvidia GPUs to go around (in that regard). And it would appear it was inevitable that a new player would enter the scene.


http://wccftech.com/protoshares-upda...e-cuda-mining/

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Old 26th Jan 2014, 02:31   #2
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Wonder if it's crossed the minds of Nvidias marketing department that it would probably be cost effective regarding increased sales to slip someone a few grand to create cryptocurrencies deliberately gimped for AMD cards

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Old 26th Jan 2014, 02:58   #3
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CUDAcoin has to gain some value for it to be viable let alone "End of AMD Mining Monopoly"

CryptoCoin is very well established, its even recognised as a legitimate financial service, an increasing number of retailers are accepting it as currency.

The odds are stacked against it, CryptoCoin miners know that.

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Old 26th Jan 2014, 07:47   #4
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I have no interest in this, as my computer was built to game but good to see nVidia users can earrn some sheckles. Cuda FTW!!!

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Old 26th Jan 2014, 08:05   #5
Marine-RX179
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To be honest, I myself not bother going with the whole mining thing. As just a PC user and gamer myself, I really do not wish external factors like these driving up the prices of the graphic cards...

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Old 26th Jan 2014, 08:21   #6
andybird123
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Originally Posted by humbug View Post
CUDAcoin has to gain some value for it to be viable let alone "End of AMD Mining Monopoly"

CryptoCoin is very well established, its even recognised as a legitimate financial service, an increasing number of retailers are accepting it as currency.

The odds are stacked against it, CryptoCoin miners know that.
What nonsense, theres already bitcoin, litecoin, dogecoin, and a host of others, there is absolutely no reason why a new one wont be viable

The word CryptoCoin means nothing in itself as there are a dozen or more types of CryptoCoin already, with bitcoin just being the most well known and correspondingly the most difficult to mine (e.g. Pointless to mine with any gpu)

Increasingly as I go through life I say things purely for my own amusement.
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Old 26th Jan 2014, 08:51   #7
Silent_Scone
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Double P

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Old 26th Jan 2014, 08:52   #8
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Oh lord now these penny pinching stay at home pocket money farmers will have more stock to nab.

On the down side they might not want to as they'll have to put the central heating back on....

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Old 26th Jan 2014, 10:28   #9
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I hope it gets a good client then, because I tried Mining last year and couldn't get started, and the easy 123 abc set up on the clients were for AMD.
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Old 26th Jan 2014, 10:38   #10
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Never tried mining. Its nice that AMD will lose its monopoly, although it might drive Nvidia prices up if it takes off.

Ultimately I am sure that the craze will probably die within a few years.

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Old 26th Jan 2014, 10:49   #11
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Originally Posted by MjFrosty View Post
Oh lord now these penny pinching stay at home pocket money farmers will have more stock to nab.

On the down side they might not want to as they'll have to put the central heating back on....



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Old 26th Jan 2014, 11:30   #12
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For this to be viable, a coin using that algorithm has to be worth something. It'll be difficult to get started in a sea of new short lived alt coins.

it's all about the Doge at the moment, I think it will only become more popular and increase in value.

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Old 26th Jan 2014, 11:38   #13
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I got the idea from the link in the op that these coins were already established and remain largely untouched as up until this new script was created, only cpus could take advantage of it?

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Old 26th Jan 2014, 11:51   #14
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I got the idea from the link in the op that these coins were already established and remain largely untouched as up until this new script was created, only cpus could take advantage of it?
Dozens of scrypt based coins are worthless, most of the market is based on speculation, you can't easily speculate on a low value, low mined coin so it will likely not gain traction. Considering the choice now between buying a 780gtx and getting a small amount of boost from a coin that is worth nothing, and getting a huge boost by buying a AMD gpu so you can mine a coin that is already worth something, where will the buyers go? It's a simple choice.

Look at the numbers they said, 12 cpu cores 430, a gpu 900 for that particular coin.

A current hexcore intel chip will get 50kh/s or so, while a 290x can get 950+ kh/s, an almost 20x speed up for a coin that has value that will pay off the hardware you buy.

Spending an even higher price, for a magnitude less in speed up 2x vs 20x, for a single coin that has no current value, that can't make certain of hardware payback let alone profit? Who is going to spend enough to make enough huge farms to pump enough value into the coin that it may possible become popular... the answer is no one.

Coins are gaining real value when they get HUGE support from the community, the ones that get little to no support and little to no mining to no where at all.
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Old 26th Jan 2014, 13:10   #15
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Won't support die off as soon as they get near impossible for the majority to mine? End up getting users to look outside of bc/lc/dc?

Its not something that interests me a great deal anyhow, if I want some extra cash I'll just do some extra hours at work, probably less effort too

My only interests stem from associated hardware price hikes.

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Old 26th Jan 2014, 13:27   #16
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Its not something that interests me a great deal anyhow, if I want some extra cash I'll just do some extra hours at work, probably less effort too

My only interests stem from associated hardware price hikes.
And at least at work, you actually make some money. The amount of power used when running theese various mining setups bound to cost a fair chunk. Id be concerned about price hikes as well, particularly when you see the prices that amd cards are going for at present.

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Old 26th Jan 2014, 13:46   #17
Ragnahex
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price hike from nvidia??? never!

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Old 26th Jan 2014, 13:51   #18
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Originally Posted by MjFrosty View Post
Oh lord now these penny pinching stay at home pocket money farmers will have more stock to nab.

On the down side they might not want to as they'll have to put the central heating back on....
the jelly is strong with this one

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Old 26th Jan 2014, 15:11   #19
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Does ocuk accept any crypto currencies, does steam, do supermarkets? No. Ah well.

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Old 26th Jan 2014, 15:50   #20
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The point of the alternative coins is that they are easy to mine, you can then easily convert them, if you can mine them quickly they gain popularity and the value goes up, you can then convert them to Bitcoins and realise a better value than the coin you actually mined in the first place

Memory coin has a high wattage cost to mine and consequently has a higher current value than most of the scrypt coins, gaining popularity from nvidia card owners now able to mine effectively could push it higher as the network difficulty also increases (so the earlier you get in the better your return will be)

basically all of the smaller coins are like a ponzi scheme, the sooner you get in and making sure you cash out before it all falls over the better

Increasingly as I go through life I say things purely for my own amusement.
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Old 26th Jan 2014, 16:12   #21
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the jelly is strong with this one
If you honestly think that orangey it speaks words for itself.

Plenty of better ways to generate your train fair.

Even if I had quad 290s this crap wouldn't appeal to me. I'm sure I'm not the only one who thinks that way.

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Old 26th Jan 2014, 16:30   #22
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Does ocuk accept any crypto currencies, does steam, do supermarkets? No. Ah well.
They accept GBP which localbitcoins lets you convert to in a couple of minutes or less.

I'm raking it in, loadsamoney.

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Old 26th Jan 2014, 16:31   #23
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There was a small window of about 2 weeks where it was possible to make a tidy profit but it all flopped very quickly after that.

The only way I can see it paying off is if you farm 24/7 and then wait till they hit a high again if they ever do.
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Old 26th Jan 2014, 16:38   #24
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There was a small window of about 2 weeks where it was possible to make a tidy profit but it all flopped very quickly after that.

The only way I can see it paying off is if you farm 24/7 and then wait till they hit a high again if they ever do.
Do you even mine bro?

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Old 26th Jan 2014, 16:56   #25
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Define 'loadsamoney' ? Taking into account running and initial outlay costs - genuinely interested, as I said earlier its not something I've taken much notice of apart from PSU prices getting 50 added to them when I needed to buy one

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Old 26th Jan 2014, 17:06   #26
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There was a small window of about 2 weeks where it was possible to make a tidy profit but it all flopped very quickly after that.

The only way I can see it paying off is if you farm 24/7 and then wait till they hit a high again if they ever do.
You should take a look here:-
http://dustcoin.com/

Use the calculations at the bottom to work out your profit after power usage.

I am making 1000 a month tax free from mining litecoin and am loading up on Worldcoin too, hoping to mine a few thousand under my belt and then hope for them to one day hopefully hit $1 or more. If you dabble in the currencies and say sell on highs and mine on lows like people have being doing with Dogecoin its actually possible to double/triple the above if your willing to put the time in.

Its a reality, one which is catching on, values in a year could sky rocket or become worthless, but if you sell monthly there is profits to be made, some very good profits if you trade the different coins.

Hang onto them you could make a fortune or making nothing.

So its profitable right now, even with things not at recent highs.

At the end of the day I can still sell the hardware should I decide to stop mining, but right now there are plenty of people out there making lots of money from this game and all tax free.

So far I am over 1000 in profit, hopefully by the end of the year that will be over 10k, one can hope, and if values sky rocket hey I could get lucky like my mate and bag over 100k from this mining lark.

Last edited by Gibbo; 26th Jan 2014 at 17:13.
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Old 26th Jan 2014, 17:36   #27
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Do you even mine bro?
lol I wouldn't believe a word you say anyway.

pics or gtfo.


Gibbo you work for OCUK, it's probably a lot cheaper for you to buy 4 290x's and other hardware than it is for everyone else
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Old 26th Jan 2014, 17:42   #28
pgi947
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You should take a look here:-
http://dustcoin.com/

Use the calculations at the bottom to work out your profit after power usage.
Am I using that right, where 3000k/hs = $1.40 dogecoin per hour? And the average say R9 290 will pull around 850k/hs ($0.40p/h)? Not taking into account $/kwh as i'm not sure what rates for those are (my mrs sorts out the gas and leccy )

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Old 26th Jan 2014, 17:43   #29
Orangey
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Define 'loadsamoney' ? Taking into account running and initial outlay costs - genuinely interested, as I said earlier its not something I've taken much notice of apart from PSU prices getting 50 added to them when I needed to buy one
A handful of Tahiti / Hawaii cards (5 or so) will net you a grand a month if you switch coins for profitability.

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Old 26th Jan 2014, 17:46   #30
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bet the leccy companies love this mining malarkey

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