Cryptocurrencies

What cryptocurrencies do you use/own?

  • Bitcoin (XBT)

    Votes: 30 27.8%

  • Ether (ETH)

    Votes: 16 14.8%

  • Litecoin (LTC)

    Votes: 15 13.9%

  • Peercoin (PPC)

    Votes: 0 0.0%

  • Dash (DASH)

    Votes: 3 2.8%

  • Dogecoin (XDG)

    Votes: 4 3.7%

  • Blackcoin (BLK)

    Votes: 0 0.0%

  • Zcash (ZEC)

    Votes: 3 2.8%

  • Other

    Votes: 14 13.0%

  • None

    Votes: 69 63.9%
  • Total voters
    108
I'm not surprised they got hacked. It's unfortunate but things like this are going to happen, especially in a developing industry like this. I'm going to be out about $140, which is what my expected payout for the week was going to be (maybe would have been closer to $200 if I had continued to mine all week). BUT, the only thing I ever gave them was the BTC address for my Coinbase wallet.

Once a week they dump the payment there. Seems that the most any miner would be out would be one week's worth. However, reading the comments on Facebook I think Nicehash had wallets where some kept their coin online with them. Is that what they're so upset about?
 
I will be out less than @timeshifter but since I had such low profitability the time it took to get what I had was likely a lot more so it hurts. I do admit I was doing all this more as something to learn and experiment with. I hope they can recover perhaps through insurance or something and make people whole or near whole. For now I will give my PC some much needed downtime and research alternatives.
 
phaZed said:
I switched over to Einsteinium on Suprnova.cc - What To Mine has EMC2 at $46.46/day so we'll see if this is a blessing in disguise or not.
Click to expand...

How many GPU's (hash) to get EMC2 at $46.46 a day

I have 13 GPU's averaging 390Mh/s @ nanapool. Avg 1.9 Eth a month
 
timeshifter said:
There is no "they". There is no central authority for Bitcoin. It's a distributed consensus based network with 12,000 nodes.
Click to expand...
If its password protected and there is a "wallet" there must be a way to lock the account or reset the password or otherwise control the account.
 
If you have an offline wallet you have full control of the wallet no one can lock it now if it is in an exchange based wallet there is a "they".
 
NYJimbo said:
If its password protected and there is a "wallet" there must be a way to lock the account or reset the password or otherwise control the account.
Click to expand...

Blues is correct, if it's offline not much can be done as far as I know. Could be sitting on a not plugged in piece of hardware that is sitting at the bottom of a drawer somewhere.
 
NYJimbo said:
If its password protected and there is a "wallet" there must be a way to lock the account or reset the password or otherwise control the account.
Click to expand...
A wallet doesn't actually store any coins, it simply holds addresses and the associated private keys. The wallet's password is merely used to encrypt that information.

The blockchain is just a ledger, a record of transfer of ownership of value from one address to another. Like a physical (paper/book) ledger, the old pages (or blocks) remain unchanged while new transactions are created on a fresh page/block. A Bitcoin wallet 'signs' a transaction request using the private key as authorisation. The transaction request contains 'inputs' (the address or addresses containing sufficient funds) and 'outputs' (usually the recipient and somewhere to send the remainder or 'change'). When the miners pick up the transaction, they cryptographically check that the transaction request is valid. If it is, it is added to the next block, irreversibly. The only way the funds can be moved once the transaction is complete is by using the private key(s) of the new address(es) to issue another transaction.

It's all quite elegant and ingenious really and it does not discriminate -- anyone (or indeed any thing) can own private keys and send transactions. The downside of that of course is that there is no central authority to cry to if you mess up.
 
Yeah, I think my estimate (about a month ago) was a little out ..
Moltuae said:
If this continues, my guess is we'll see the price over $10K before the year is out.
Click to expand...
At this rate 20,000 USD (or more) before the year is out doesn't seem too unlikely!

Actually, if it continues at the present rate, we could see 20K before the end of the week!
I suspect we're due a price correction soon though ...
 
one problem i am seeing with crypto currency is the fees are skyrocketing unless there is some way they can control them wide spread adoption for business transactions will start reversing and they will stop accepting it as a form of payment seeing this already with steam.

Your thinking thee fees can`t be that bad example have one customer that pays 280 cad a day for fees every time he buys bitcion that is one customer.
 
Last edited:
Galdorf said:
one problem i am seeing with crypto currency is the fees are skyrocketing unless there is some way they can control them wide spread adoption for business transactions will start reversing and they will stop accepting it as a form of payment seeing this already with steam.

Your thinking thee fees can`t be that bad example have one customer that pays 280 cad a day for fees every time he buys bitcion that is one customer.
Click to expand...

Fees are a long-running bone of contention for Bitcoin and are the reason behind some of the forks. There are a number of proposed solutions, and some cryptocurrencies have already implemented solutions, but it takes time find the right solution and to reach consensus.

For larger transactions, the fees aren't really an issue. Unlike most bank and credit card industry fees, Bitcoin fees are not directly related to the size of the transactions. But something certainly needs to be done if Bitcoin is to be used in future for micropayments.
 
I give the NH guys credit for posting that video - they look understandably somber. They did everything but give any real information, haha. The Reddit group has not exactly been kind, as you might expect. I lost about $150, so it could have been worse.

BTW, I'm not really liking WinMiner, it's still pretty buggy, it seems to earn less and crashes a lot. I'm coasting now, probably time to think about individual coins. I hate to see the rig sitting idle, although the spike in prices means my rig is now paid for. I've thought about cashing out to make sure of that outcome, but the bubble keeps rising, so I'm staying invested for now. I'm really glad this is a hobby and not my real source of income!
 
You must log in or register to reply here.
Back
Top