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Jamaican Bobsledders Ride Dogecoin Into Olympics

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Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#11

Post by pettazz »

jjsz wrote: post #6
phren0logy wrote: post #5

I started mining doge just to give it a whirl. It's good, clean fun for those of us who don't expect to get rich. In the event you decide to give it a shot, a few pointers: 1. Block rewards will be halved in 8 days, so giddy up. 2. Obviously, use a GPU-based miner if you have a decent GPU. 3. Sign up for a pool other than dogehouse, which has a highly disproportionate number of of the mining horsepower. last but not…

Highly recommend multipool.

Multipool also has a huge share of the network hashing power, but is designed to hop between whatever happens to be the most profitable coin. So for someone looking to get into DOGE for fun, it's not the way to go.

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#12

Post by pettazz »

phren0logy wrote: post #5

I started mining doge just to give it a whirl. It's good, clean fun for those of us who don't expect to get rich. In the event you decide to give it a shot, a few pointers: 1. Block rewards will be halved in 8 days, so giddy up. 2. Obviously, use a GPU-based miner if you have a decent GPU. 3. Sign up for a pool other than dogehouse, which has a highly disproportionate number of of the mining horsepower. last but not…

There's a huge directory of everything from Pools to Exchanges maintained here: http://www.doktorrf.com/dogecoin/index.html

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#13

Post by thomasmeeks »

JoshTriplett wrote: post #7
phren0logy wrote: post #5

I started mining doge just to give it a whirl. It's good, clean fun for those of us who don't expect to get rich. In the event you decide to give it a shot, a few pointers: 1. Block rewards will be halved in 8 days, so giddy up. 2. Obviously, use a GPU-based miner if you have a decent GPU. 3. Sign up for a pool other than dogehouse, which has a highly disproportionate number of of the mining horsepower. last but not…

Is CPU mining still remotely sensible to do at this point? Also, what's the recommended client for CPU mining on Linux at this point?

BFGMiner and CGMiner (3.7.2 -- you must use an old version) are both good choices for ATI or CPU. CUDAMiner if you are using a Nvidia card.

CPU mining is not profitable. But absolutely reasonable to do if you just want to mine a small amount of dogecoin to see how it all works. My only caveat is I'd strongly discourage anyone from mining on a laptop for an extended period of time if they care about the laptop's lifespan.

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#14

Post by patrickg_zill »

pettazz wrote: post #11
jjsz wrote: post #6

Earlier quoted context omitted.

Highly recommend multipool.

Multipool also has a huge share of the network hashing power, but is designed to hop between whatever happens to be the most profitable coin. So for someone looking to get into DOGE for fun, it's not the way to go.

They have both the profit-hopping hostname:port , and, a dedicated Dogecoin hostname:port. So if you only want to mine Dogecoin, you can do that.

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#15

Post by SwellJoe »

jjsz wrote: post #6
phren0logy wrote: post #5

I started mining doge just to give it a whirl. It's good, clean fun for those of us who don't expect to get rich. In the event you decide to give it a shot, a few pointers: 1. Block rewards will be halved in 8 days, so giddy up. 2. Obviously, use a GPU-based miner if you have a decent GPU. 3. Sign up for a pool other than dogehouse, which has a highly disproportionate number of of the mining horsepower. last but not…

Highly recommend multipool.

In a similar vein, Waffle Pool is smaller (and thus less dangerous for network health), and is also a coin-hopping profit-focused pool. It is different (I think) in that it always mines multiple coins simultaneously, in order to prevent huge changes in the market based on what a big pool is mining. Since a big pool like Multipool can effectively move the market for smaller altcoins, it's probably useful to spread the hashing love around a little.

It does, however, pay out in Bitcoin only. So, if you're wanting to mine Doge and hold them, it's not the right choice. I have a Multipool miner running and I keep some of the proceeds in the coins that result; though I mostly sell the also-ran coins (anything that has nothing significant to differentiate it from Bitcoin) and trade them in for Bitcoin or Peercoin. I keep some Doge, however.

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#16

Post by pettazz »

patrickg_zill wrote: post #14
pettazz wrote: post #11

Earlier quoted context omitted.

Multipool also has a huge share of the network hashing power, but is designed to hop between whatever happens to be the most profitable coin. So for someone looking to get into DOGE for fun, it's not the way to go.

They have both the profit-hopping hostname:port , and, a dedicated Dogecoin hostname:port. So if you only want to mine Dogecoin, you can do that.

Huh. Didn't know they had that option. But either way, along with #3 in the top level comment, Multipool also holds a massive share of the total network: http://i.imgur.com/n9xaRQo.png, and if a lot of that is profit-hoppers, when they change coins, that will leave Dogehouse with even more share.

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#17

Post by steveklabnik »

tlrobinson wrote: post #10
willholloway wrote: post #4

Dogecoin is monetizing user generated content, an economic revolution online. Micropayments for creators are becoming a reality. From the article comments: "They're also digging wells in Africa and training companion dogs. It's a real party over at /r/dogecoin. Someone gave me thirty bucks for telling a joke."

That's great, but I get the feeling Dogecoin users are even less informed about the technology than the average Bitcoin user. I wonder how many understand why Dogecoin in it's current state (like Bitcoin) can't scale to support widespread usage of micropayments? There are two problems: 1. The protocol limits the maximum block size to 1MB ( https://github.com/dogecoin/dogecoin/blob/master-1.5/src/mai... ) which puts D…

The community has already dealt successfully with one fork due to a bug. I'm sure the same thing can happen in the future if there are problems.

In many ways, Dogecoin is 'worse is better.'

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#18

Post by buu700 »

JoshTriplett wrote: post #7
phren0logy wrote: post #5

I started mining doge just to give it a whirl. It's good, clean fun for those of us who don't expect to get rich. In the event you decide to give it a shot, a few pointers: 1. Block rewards will be halved in 8 days, so giddy up. 2. Obviously, use a GPU-based miner if you have a decent GPU. 3. Sign up for a pool other than dogehouse, which has a highly disproportionate number of of the mining horsepower. last but not…

Is CPU mining still remotely sensible to do at this point? Also, what's the recommended client for CPU mining on Linux at this point?

I have a pooler's cpuminer (https://github.com/pooler/cpuminer) running with spare resources on my server, and while I wouldn't recommend keeping a dedicated machine for CPU mining, it does cover about half of my server costs.

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#19

Post by skeletonjelly »

JoshTriplett wrote: post #7
phren0logy wrote: post #5

I started mining doge just to give it a whirl. It's good, clean fun for those of us who don't expect to get rich. In the event you decide to give it a shot, a few pointers: 1. Block rewards will be halved in 8 days, so giddy up. 2. Obviously, use a GPU-based miner if you have a decent GPU. 3. Sign up for a pool other than dogehouse, which has a highly disproportionate number of of the mining horsepower. last but not…

Is CPU mining still remotely sensible to do at this point? Also, what's the recommended client for CPU mining on Linux at this point?

If you have a nice Xeon quadcore maybe. Either way CPU mining isn't profitable as you're not making enough to pay for electricity. I set up my Windows dev machine to mine when the computer is idle, can't hurt. I've leaving it on when I take a lunch break for instance.

I go for pooler's cpuminer.

Re: Jamaican Bobsledders Ride Dogecoin Into Olympics

#20

Post by willholloway »

tlrobinson wrote: post #10
willholloway wrote: post #4

Dogecoin is monetizing user generated content, an economic revolution online. Micropayments for creators are becoming a reality. From the article comments: "They're also digging wells in Africa and training companion dogs. It's a real party over at /r/dogecoin. Someone gave me thirty bucks for telling a joke."

That's great, but I get the feeling Dogecoin users are even less informed about the technology than the average Bitcoin user. I wonder how many understand why Dogecoin in it's current state (like Bitcoin) can't scale to support widespread usage of micropayments? There are two problems: 1. The protocol limits the maximum block size to 1MB ( https://github.com/dogecoin/dogecoin/blob/master-1.5/src/mai... ) which puts D…

"... A configuration in which the vast majority of users sync lightweight clients to more powerful backbone nodes is capable of scaling to millions of users and tens of thousands of transactions per second.

[PayPal] handles around 4 million transactions per day for an average of 46 tps or a probably peak rate of 100 tps. "

https://en.bitcoin.it/wiki/Scalability

When Dogecoin approaches Paypal's transactions per second an engineering solution will have to be found.

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