AURORACOIN - Empowering Financial Freedom

[adamastor]

what profitability will you get when you mine auroracoin with the antminer s7 4.78 th/s  https://bitmaintech.com/productDetail.htm?pid=00020150827084021471OHYdwd9D06A0 ?

dafts auroracoin profit calculator puts out some weird numbers. http://daft.cc/auroracoin/

[Skarfur]

what profitability will you get when you mine auroracoin with the antminer s7 4.78 th/s  https://bitmaintech.com/productDetail.htm?pid=00020150827084021471OHYdwd9D06A0 ?

dafts auroracoin profit calculator puts out some weird numbers. http://daft.cc/auroracoin/

It's not surprising that the calculator puts out some weird numbers. The miner you are referring to here is a miner that mines with sha-256 algo which is generally used for Bitcoin and a few other coins. Auroracoin on the other hand uses scrypt for mining so the Antminer wont do the job.

[soltantgris]

what profitability will you get when you mine auroracoin with the antminer s7 4.78 th/s  https://bitmaintech.com/productDetail.htm?pid=00020150827084021471OHYdwd9D06A0 ?

dafts auroracoin profit calculator puts out some weird numbers. http://daft.cc/auroracoin/

It's not surprising that the calculator puts out some weird numbers. The miner you are referring to here is a miner that mines with sha-256 algo which is generally used for Bitcoin and a few other coins. Auroracoin on the other hand uses scrypt for mining so the Antminer wont do the job.

Is it some practical options for him so he can get AUR, outside mining BTC and buying AUR manually with it.

[Skarfur]

what profitability will you get when you mine auroracoin with the antminer s7 4.78 th/s  https://bitmaintech.com/productDetail.htm?pid=00020150827084021471OHYdwd9D06A0 ?

dafts auroracoin profit calculator puts out some weird numbers. http://daft.cc/auroracoin/

It's not surprising that the calculator puts out some weird numbers. The miner you are referring to here is a miner that mines with sha-256 algo which is generally used for Bitcoin and a few other coins. Auroracoin on the other hand uses scrypt for mining so the Antminer wont do the job.

Is it some practical options for him so he can get AUR, outside mining BTC and buying AUR manually with it.

Unfortunately Scrypt miners have become a low demand product since the great price collapse of all coins. So few companies continue to produce them. Your best bet might be to acquire used ones. I haven't spent much time checking this out lately but there are options like Zeus Thunder, A2 Terminationr, KNC Titan

[leigh2k14]

16 BTC buy wall @ 9295 sat on bittrex.

Real or fake?

[molecular]

16 BTC buy wall @ 9295 sat on bittrex.

Real or fake?

WOW!

hmm...



could be trying to scare people into buying that new ask at 9500. Seems a bit overkill for that measly "not even 1 BTC", though.

EDIT: So... if any of you big hodler wants out... slippage has never been lower

EDIT2: shit, there goes my plan to buy more at 6000

[leigh2k14]

16 BTC buy wall @ 9295 sat on bittrex.

Real or fake?

WOW!

hmm...



could be trying to scare people into buying that new ask at 9500. Seems a bit overkill for that measly "not even 1 BTC", though.

EDIT: So... if any of you big hodler wants out... slippage has never been lower

EDIT2: shit, there goes my plan to buy more at 6000

I don't think it's because he's trying to sell at 9500 either, it does seem like overkill.

If it stays it's real.

[molecular]

I don't think it's because he's trying to sell at 9500 either, it does seem like overkill.

If it stays it's real.

it's gone. the 10k ask still there.

sorry to the productive guys for the offtopic speculation talk. I know we have a thread for it ([AUR] Auroracoin market observer, but noone reads there so noone posts there so noone reads there...

[adamastor]

what profitability will you get when you mine auroracoin with the antminer s7 4.78 th/s  https://bitmaintech.com/productDetail.htm?pid=00020150827084021471OHYdwd9D06A0 ?

dafts auroracoin profit calculator puts out some weird numbers. http://daft.cc/auroracoin/

It's not surprising that the calculator puts out some weird numbers. The miner you are referring to here is a miner that mines with sha-256 algo which is generally used for Bitcoin and a few other coins. Auroracoin on the other hand uses scrypt for mining so the Antminer wont do the job.

Is it some practical options for him so he can get AUR, outside mining BTC and buying AUR manually with it.

Unfortunately Scrypt miners have become a low demand product since the great price collapse of all coins. So few companies continue to produce them. Your best bet might be to acquire used ones. I haven't spent much time checking this out lately but there are options like Zeus Thunder, A2 Terminationr, KNC Titan

uh whats the point of mining aurora if the mining technology is not being constantly improved?

[Skarfur]

what profitability will you get when you mine auroracoin with the antminer s7 4.78 th/s  https://bitmaintech.com/productDetail.htm?pid=00020150827084021471OHYdwd9D06A0 ?

dafts auroracoin profit calculator puts out some weird numbers. http://daft.cc/auroracoin/

It's not surprising that the calculator puts out some weird numbers. The miner you are referring to here is a miner that mines with sha-256 algo which is generally used for Bitcoin and a few other coins. Auroracoin on the other hand uses scrypt for mining so the Antminer wont do the job.

Is it some practical options for him so he can get AUR, outside mining BTC and buying AUR manually with it.

Unfortunately Scrypt miners have become a low demand product since the great price collapse of all coins. So few companies continue to produce them. Your best bet might be to acquire used ones. I haven't spent much time checking this out lately but there are options like Zeus Thunder, A2 Terminationr, KNC Titan

uh whats the point of mining aurora if the mining technology is not being constantly improved?

Well I didn't say it was at a complete halt. It has just slowed down as for a period all Scrypt coins (Litecoin, Auroracoin Doge, Syscoin, Viacoin, Worldcoin, Gulden and probably 100 more) more or less didn't turn a profit when mined, mostly due to the low price of Bitcoin. So a lot of people stopped mining and companies producing miners for Scrypt either stopped so or slowed down the development. However it has become profitable again with the rise of Bitcoin's price so miners have been fired up again and new miners will emerge. Innosilicon for example has announced a new miner release soon http://www.innosilicon.com/html/news/11.html.

That doesn't mean that Scrypt is or will always be the best option for Auroracoin. The coin will always adapt to what is best at each time based on its circumstances.

[molecular]

uh whats the point of mining aurora if the mining technology is not being constantly improved?

The point of mining any coin is to ensure consensus and secure the ledger.

The Auroracoin experiment isn't about technology at all in my opinion, it's more of a social experiement.

If you want to mine, then by all means do. Buy (or rent) yourself some scrypt hardware... the other miners have the same "problem(s)", so it's fair.

[adamastor]

the distinction is quite important i feel because the antminer s7 could offer a feasible return on investment  when you powered your rig with SOLAR panels and batteries, where as the scrypt mining technology is far from profitable on solar right now.

[ny2cafuse]

the distinction is quite important i feel because the antminer s7 could offer a feasible return on investment  when you powered your rig with SOLAR panels and batteries, where as the scrypt mining technology is far from profitable on solar right now.

While profit and roi are always on a miner's mind, our focus really will be on this:

The point of mining any coin is to ensure consensus and secure the ledger.

However, we aren't ignoring the fact that scrypt miners aren't coming out as fast as they used to, and the ones that are out there now are rapidly becoming paperweights due to the cost to operate vs return.  Trust me... the team has talked about solutions to this issue in depth.

Our development focus will always be centered around the fundamentals of a secure and reliable blockchain that is easily used for day to day transactions by the Icelandic people.  The emphasis here, for me personally, is on the secure and reliable blockchain.

That being said, there will be updates coming out soon that are fully aligned with our development focus.  I won't say more than that, but I will say that we are working towards addressing people's concerns about the future of AUR blockchain technology.

-Fuse

[adamastor]

the distinction is quite important i feel because the antminer s7 could offer a feasible return on investment  when you powered your rig with SOLAR panels and batteries, where as the scrypt mining technology is far from profitable on solar right now.

While profit and roi are always on a miner's mind, our focus really will be on this:

The point of mining any coin is to ensure consensus and secure the ledger.

However, we aren't ignoring the fact that scrypt miners aren't coming out as fast as they used to, and the ones that are out there now are rapidly becoming paperweights due to the cost to operate vs return.  Trust me... the team has talked about solutions to this issue in depth.

Our development focus will always be centered around the fundamentals of a secure and reliable blockchain that is easily used for day to day transactions by the Icelandic people.  The emphasis here, for me personally, is on the secure and reliable blockchain.

That being said, there will be updates coming out soon that are fully aligned with our development focus.  I won't say more than that, but I will say that we are working towards addressing people's concerns about the future of AUR blockchain technology.

-Fuse

Surely Switching To A Sha 256 algorithm would help secure the auroracoin block chain?

[ny2cafuse]

Surely Switching To A Sha 256 algorithm would help secure the auroracoin block chain?

Actually, far from it.  There is way too much SHA gear out there to simply flip a switch and go SHA without more adoption in Iceland.  That would put us in a far worse place security wise than we are now.  All it would take is one split second of AUR being more profitable than BTC to swing some huge Chinese mega farm onto the chain, ramping up the difficulty, and then dropping off, leaving us stalled for days or even weeks at that point.  We would essentially have to invalidated blocks on the chain to reverse the effects at that point.

Remember, reliability and security are the key.  We are trying to stay away from implementing anything that would open us up to attacks or stalls.

-Fuse

[rocanonz]

Surely Switching To A Sha 256 algorithm would help secure the auroracoin block chain?

Actually, far from it.  There is way too much SHA gear out there to simply flip a switch and go SHA without more adoption in Iceland.  That would put us in a far worse place security wise than we are now.  All it would take is one split second of AUR being more profitable than BTC to swing some huge Chinese mega farm onto the chain, ramping up the difficulty, and then dropping off, leaving us stalled for days or even weeks at that point.  We would essentially have to invalidated blocks on the chain to reverse the effects at that point.

Remember, reliability and security are the key.  We are trying to stay away from implementing anything that would open us up to attacks or stalls.

-Fuse

Is a multi-algorithm solution more secure, more stable and more democratic?

Edit*
And with a much faster blockchain generation. At every 24 seconds with 1AUR reward/block

[ny2cafuse]

Is a multi-algorithm solution more secure, more stable and more democratic?

It is.  However, there are a lot of viable options out there on how to do this.  It's just a matter of evaluating, implementing, and testing the various options.

Don't worry, we'll keep the community in the loop when we're ready to release more info on what we've been working on.  Not like we're trying to be super-secretive, but we'd rather not oversell development before it's ready.

I've already said too much... crap, they're coming for me now 

-Fuse

[molecular]

Surely Switching To A Sha 256 algorithm would help secure the auroracoin block chain?

Actually, far from it.  There is way too much SHA gear out there to simply flip a switch and go SHA without more adoption in Iceland.  That would put us in a far worse place security wise than we are now.  All it would take is one split second of AUR being more profitable than BTC to swing some huge Chinese mega farm onto the chain, ramping up the difficulty, and then dropping off, leaving us stalled for days or even weeks at that point.  We would essentially have to invalidated blocks on the chain to reverse the effects at that point. EDIT: if the dev are planning something: cool!

Remember, reliability and security are the key.  We are trying to stay away from implementing anything that would open us up to attacks or stalls.

-Fuse

Personally I would love to be able to "give the power back to the people" by using a GPU/Asic-Resistant algo. But smarter people than I have failed at that. Again: Auroracoin is not about technology for me. Of course it would be quite good for Auroracoin because the more it is "just about the energy consumption", the better for the population of Iceland (because they have low electricity cost, right?). It just seems to me other things are way more important at this time.

imo we're good with scrypt at this point.

I don't quite understand the talk about shortage of scrypt gear... that's a problem affecting everyone, right? So it doesn't really matter. Maybe someone can explain this to me.

Also: there are markets for that: https://www.nicehash.com/. You can competitively rent hashrate there. I used to do that back when when Auroracoin used to get stuck to find a block and kick it off agian. I think all in all I might've even netted a small profit on that action, or at least only a small loss. I had initially expected to run quite a loss on such an idea, but it wasn't the case.

[adamastor]

Surely Switching To A Sha 256 algorithm would help secure the auroracoin block chain?

Actually, far from it.  There is way too much SHA gear out there to simply flip a switch and go SHA without more adoption in Iceland.  That would put us in a far worse place security wise than we are now.  All it would take is one split second of AUR being more profitable than BTC to swing some huge Chinese mega farm onto the chain, ramping up the difficulty, and then dropping off, leaving us stalled for days or even weeks at that point.  We would essentially have to invalidated blocks on the chain to reverse the effects at that point.

Remember, reliability and security are the key.  We are trying to stay away from implementing anything that would open us up to attacks or stalls.

-Fuse

What about the massive sha mines already in Iceland.

These mines could mine auroracoin and the icelandic government would then be incentivised to adopt auroracoin and invest national resources to the mining of auroracoin thereby kickstarting mass adoption in iceland.

[ny2cafuse]

Personally I would love to be able to "give the power back to the people" by using a GPU/Asic-Resistant algo. But smarter people than I have failed at that. Again: Auroracoin is not about technology for me. Of course it would be quite good for Auroracoin because the more it is "just about the energy consumption", the better for the population of Iceland (because they have low electricity cost, right?). It just seems to me other things are way more important at this time.

imo we're good with scrypt at this point.

I don't quite understand the talk about shortage of scrypt gear... that's a problem affecting everyone, right? So it doesn't really matter. Maybe someone can explain this to me.

Also: there are markets for that: https://www.nicehash.com/. You can competitively rent hashrate there. I used to do that back when when Auroracoin used to get stuck to find a block and kick it off agian. I think all in all I might've even netted a small profit on that action, or at least only a small loss. I had initially expected to run quite a loss on such an idea, but it wasn't the case.

I agree that there are more important things to focus on at this time.  We're looking at a lot of those other things concurrently.

With regards to the scrypt gear, I think the big issue is there isn't a continuation of producing mining gear for scrypt.  Yes, there are sites where you can rent hashes.  Yes, there are places where you can mine with one algo and get paid in a coin that uses another.  However, where is the control of power at that point?  It's in the hands of the equipment holders.  While you're case might be shining light for some would-be cloud miners, I think it's more atypical.  If you don't have other mining equipment feeding the BTC costs of the rented hashes, the money either comes out of pocket or out of mining revenue.  It's a wash, or in most cases a loss, for most people.  At that point it would be easier to just buy AUR.

The other major issue with scrypt gear out there is what is available is used, loosing dies, and inefficient.  There is no new gear.  There isn't the constant progression of mining gear that makes things continually more secure like you have with SHA or even GPU/CPU mining.  Basically we're stuck at what I would call the maximum total available hashes.  We aren't increasing available hashes, but altcoins are still being created.  So the hashes get spread thinner and thinner... jumping between the profit of the day coin.  Even if you could find a decent amount of gear to dedicate to AUR, you're looking at very polar opposites in terms of what's available.  You either have Gridseed-based units or Titans.  There isn't a lot in between.  Titans are still selling for $3k in the forums, so that's out of the question for budget miners like myself.  The Gridseed-based miners are a cheaper option, but getting old.  And people beat the hell out of them- removing fans, doing wonky voltage mods, etc.

All that being said, I love scrypt.  I just wish they continued producing miners that were more and more efficient.

What about the massive sha mines already in Iceland.

These mines could mine auroracoin and the icelandic government would then be incentivised to adopt auroracoin and invest national resources to the mining of auroracoin thereby kickstarting mass adoption in iceland.

I think keeping the government out of the financial affairs of it's citizens is where we're trying to go.  The team members from Iceland can speak better to this, but I think the Icelandic people have been pretty straight forward when it comes to what they think of government finance  

Adoption is the key, but if you take Gulden(yes I said it) as an example of public adoption, you don't need the government to do it.

-Fuse