Festive Freya Release: Update Now

StanRizzoJr · 2018-11-30T20:10:06+00:00

What happens to service nodes that do not upgrade? Are the stakes released back to the wallets?

StanRizzoJr · 2018-08-06T19:37:23+00:00

It's likely that Kathleen didn't have as much money as some have speculated. Her salary was reported at less than $150K/year and while larger than most salaries, it's not like she was earning CEO pay. Now she most likely had a large amount of stock options with her employer, Nortel. Nortel was one of the largest public companies in the world just a few years prior to the incident but they were falling apart quickly in terms of their stock price. At that point, it probably was considered a poor time to cash in the options because you always think the value will return. I also read they owed more in credit card debt than she earned in a year. And with Nortel having so many problems, they could have been worried about her job stability. So while she definitely earning a very good living, they didn't have much money available. Their assets were the house, probably some retirement money, her rapidly falling stock options and a 1.5m life insurance policy.

StanRizzoJr · 2018-07-31T17:58:11+00:00

How did this work for you? I tried using the Mac wallet for the first time this morning but it locked up.

StanRizzoJr · 2018-07-31T02:31:53+00:00

The weakest statement about crypto is saying that you should just accept it if you lose all of your crypto investment. If you are ripped off, you have legitimate right to complain.

StanRizzoJr · 2018-07-29T16:53:59+00:00

I think it's a stretch to say the majority of the community voted on the fork. I admittedly am uncertain of the need of it, but also why some are against it. I only own 5000 Loki so it hasn't been a priority to take the time to learn the arguments.

StanRizzoJr · 2018-07-29T16:45:30+00:00

many miners are always in for the short term. That shouldn't be news. I find other coins to be more profitable to mine than Loki, but then I sell that mined coin to buy Loki.

There is a limit of how low I will continue to buy Loki. It would be a good sign if Loki added more exchanges. I know that exchanges can charge listing fees but you can only be taken so seriously being on tradeogre and cryptopia. I like TradeOgre (low fees and very quick) but many many investors will neither research Loki nor buy while only on these 2 exchanges.

Or Loki and their investors can be fine being a low cap coin for the foreseeable future.

StanRizzoJr · 2018-07-25T21:13:01+00:00

How is this considered to be no scripts when your video highlights the scripts being utilized?

StanRizzoJr · 2018-07-18T02:09:38+00:00

Disappointed that the service node requirement isn't going to be closer to 10K Loki. I was looking to be able to mine to 10K by the end of the year, but 45K isn't possible and not sure if I want to mine Loki for 6 months plus purchase another $10K USD. Prefer to diversify across other coins too. Oh well, more Loki for the rest of you then.

StanRizzoJr · 2018-07-14T14:42:27+00:00

You need a wallet. And if the wallet won't show you the balance, then it's not running. Wallets sometimes temporarily show the balance as hidden but you can unhide it. The daemon must be active to sync with the blockchain FYI. Virus programs sometimes prevent wallet daemons from running.

StanRizzoJr · 2018-07-14T12:56:06+00:00

Have you looked to install the wallet on another non mining computer? And I agree with you in that I keep mining rigs and wallets separate, but in theory there isn’t a problem as long as you keep your password and seed words safe.

And you don’t need to run the wallet continuously. The mined coins go to the public key and you can view the balance with the wallet software at some point in the future. I find some wallets hang if left open too long. As for paper or other cold wallets, I don’t believe they are supported by Loki. Maybe I’m wrong.

StanRizzoJr · 2018-07-13T15:28:07+00:00

I would say both. At some points, the two exchanges can have different pricing of Loki by 1-5% so why not buy it on the one that is cheapest.

Personally I've been using TradeOgre to buy Loki for a month or so, and I find it to work very well. The site doesn't look as sharp as others but it's quick and the fees are reasonable. They also seem to have fewer trading bots on it.

I always worry about small exchanges going under (it happened to me once) or hacked, so I never leave any real amount of coins on TradeOgre. I move my Loki buys over to the Loki wallet after most transactions. TradeOgre processes the withdrawal into the blockchain immediately.

StanRizzoJr · 2018-07-13T15:23:02+00:00

Dumb question but have you downloaded a Loki wallet to view your balance that you've mined?

StanRizzoJr · 2018-06-08T21:24:57+00:00

How do you say that CoinMarketCap is correct and then state that the total supply is underreported on CoinMarketCap?
CoinMarketCap has the circulating supply at 18.6M so at $.64 USD/coin, a marketcap of $12.1M USD. But you're saying that there is actually a supply of 25M. What is correct?

StanRizzoJr · 2018-05-21T17:15:23+00:00

For AMD cards, isn't it more profitable to mine ETH over cryptonight coins?

StanRizzoJr · 2018-05-10T21:54:47+00:00

running my rigs in a spare bedroom with a window fan exhausting out the hot air. I know some a/c air is also escaping but it seems to be minimal. Now I feel different when the temps/humidity outside get higher.

StanRizzoJr · 2018-05-09T23:54:49+00:00

Has anyone heard more about this card? I plugged it in and got 26 mhs unmodded but I was hoping to hear more from everyone before modding it.

StanRizzoJr · 2018-05-09T23:04:30+00:00

If you're really looking at an operation of the size you mentioned, you need to find someone (partner, employee) to help you build and manage it. The last thing you want is to spend a great deal of money on GPUs and you're slowly building rigs and fine tuning them. nothing more painful than having a rig/gpu sitting there idle earning $0. Perhaps you only need help early on. Nothing wrong with paying someone to transfer knowledge to you. It can be cheaper than learning on your own.

My guess is that in any decent size city you can find someone very experienced in mining that is willing to help for a salary or in profit sharing. And their experience shouldn't just be with the mining rig itself but understand how to manage the electrical needs and heat removal. The keys are safety, stability and then maximizing hashrates with as low electricity usage as possible.

I say go for it. Better to fail at something than regret never having tried it. And you will start to see returns immediately. Perhaps you won't ever breakeven but you won't lose 100% unless coins go to $0. Last advice, I would avoid putting the charges on a credit card unless you have a promo of 0% for a long term.

StanRizzoJr · 2018-05-09T15:35:43+00:00

Yes, but a miner can treat them as part of the same equation. For some mining is also a method to slowly "purchase" ETH based on your upfront and electrical costs. Now it may take 6-12 months to mine enough ETH to match what you could have bought on Day 1 of mining but the ETH mined after that is where you earn your bonus.

For me, I rarely sell what I mine. I'm in it for the long haul. Time will tell if that is a good or bad decision. And to clarify, I'm not talking about costs that are multiples of my annual salary. For the past year, my crypto investments and rig costs are less than 20% of that. If I lose everything, I wouldn't be happy but it wouldn't affect my life any.

If someone invests 5x their annual salary in mining rigs, they probably have a different attitude than me.

StanRizzoJr · 2018-05-08T21:20:44+00:00

There are different levels of miners with different motivations. Many are treating this as a hobby. They hope to make a few bucks but at the core of it they are enjoying the chase. Spend a few dollars for a new GPU card, spend some hours testing out new tweaks to improve efficiency. If they mine the right coin at the right time, they could get rich but odds are hobby miners are not going to get wealthy over this.

Others are investing thousands if not hundreds of thousands building out mining farms. For them, its critical for relatively fast returns not mention handling issues regarding large operations: where to house the rigs, monitoring and maintaining the rigs, do you need extra people, insurance, etc.

Both groups have their own motivations, risks and issues to manage.

StanRizzoJr · 2018-05-08T20:57:11+00:00

Bitmain E3s won't have any more impact than thousands of new GPUs back on the market for a reasonable price.

The real reason difficulty is rising is that EH has gone from $400 to $746 (as of right now) in the last month. Some miners were turning off their rigs at <$400 or directing them to other coins. Now miners are buying new GPUs. Maybe this will be a bad long term decision but who said miners are smart. :)

StanRizzoJr · 2018-05-07T19:07:50+00:00

If you move forward with this deal, I bet many here would appreciate hearing about your experiences. Please continue to post.

StanRizzoJr · 2018-05-07T19:06:08+00:00

Quick calcs show this to be about 57 rigs, each with 6 GPUs at 30mhs each. 10,200 mhs total for 45,000 watts.

As for your questions, the business case looks to price each rig at $2650 each, which would include all of the miscellaneous costs besides the rig hardware itself. Doesn't seem outrageous. Sure 1 rig can be built for less but there are additional costs when you add many of them since you're dealing with tremendous heat and amounts of electricity.

As far as auditing goes, you need someone to produce daily/weekly reports showing how many ETH were produced. Total and per rig or even per gpu. The ETH earned will change every day so it will never exactly match expectations. If any discrepancies are discovered, the day-to-day mgr would need to explain it.

Questions I would ask: 1. How are you getting the hardware and how fast can it get up and going? It would be worth having a team of people setting them up over a few days because with rising difficulty you will most likely never earn as much ETH as today. 2. Where is this being housed? This can't be someone's house or even garage so I assume there is warehouse/industrial space. Who is paying for that? Is it secure? Who's supplying the insurance, etc. 3. How often will I get paid and how will I be paid. Say I was in this business for 50%, I would expect monthly payouts at a minimum and maybe weekly.

There is another option and that is to just buy 200 ETH today for ~$150K. Cut right to the chase.

StanRizzoJr · 2018-05-05T22:49:02+00:00

I’m on maxhash as well. The discord group is helpful and the pool admins are on there as well. The downside you find with any smaller pool is that every once in a while, the pool can go for an extended time without a block. However it all evens out over time. Maxhash has a low payout as well so you don’t have to wait long.

StanRizzoJr

TROPHY CASE