So who started mining aggressively within the last few days?

I’m trying to find out why someone would start mining and adding capacity right when the price is falling…

I lost about half XPM/day. You can see this across many addresses in the digitalocean mining threads.

I assume these people are only using the same number of cores consistently.

Here is are some examples
http://xpm.syware.de/?a=AaGFGuxkhBgdeYZfNxPdVXReF2yHqbvR6P
http://xpm.syware.de/?a=AP21oskxtZaQAvf3PdiFtP8DWcLUcGfjAk
http://xpm.syware.de/?a=ANip2UmxZJ8FffGsaMjtHgPLx2dv9iinqq
http://xpm.syware.de/?a=AXPr4sGTrb45TSpz54xmFpxRPZSHTpqDVh
http://xpm.syware.de/?a=AaTQQLtdH5cbm6YSoWPFgMdYsQECd42in6

It is definitely not worth it mining anymore. I’m going to save my digitalocean credits to run a web server in the future.

The question is, who jumped on and has the ability to mine at such a low cost. Even normal electricity costs exceed digitalocean.

In Australia, it costs up to $0.55 per kwh, assuming a cpu uses 100 watts. That’s $0.055 an hour.
Digital ocean brings it down $0.07 per kwh, which assuming the cpu uses 100 watts, that’s $0.007 an hour (exactly the cost of renting).

$0.07 electricity is the cheapest I’ve seen worldwide. So someone else out there is mining at a loss deliberately. Interestingly they only jumped on when the price crashed, so they are making a hefty loss.

Well, it is mentioned in the other thread that someone has access to spare CPU cycles.

However, you must also account for the fact that those additional cycles will lead to additional electricity usage, probably around what I’ve described. I know my computer idles at 100 watts but on load it goes to 210 watts on load and only has an integrated graphics card on the motherboard. It’s the AMD X4 630.

So, either way, to argue against the spare cpu argument. Someone is going to be left with a large bill.

But moving on from that, Does anyone know the historical profitability of primecoin?

Well I started mining yesterday.

This was off the back of litecoin being mentioned in Tech news, followed by research into what viable CPU coins could be farmed.

I doubt I was the only one to follow this chain of logic.

But as you say it looks like profitability is terrible currently - but this should mean people will drop off.

With Bitcoin and Litecoin there has been growing difficulty because it is still profitable at all levels with faster equipment.
I don’t see that happening with primecoin unless someone has invented an ASIC that we don’t know about.

Seriously, it’s looking like a Beggar Thy Neighbour & Tragedy of the Commons issue.

If some network admin is reading this website and looking at my electricity calculations. It should lead someone to be kicked out of their firm. My advice is to be smart about what you are doing. Nothing is free. Don’t be wasteful, no one wins. The crypto algorithms are designed to account for some energy efficiency, it’s implicit, even in bitcoin.

Either way, I’m off to start mining protoshares.

Over the past few weeks I got about 22 XPM, then in the past couple of days my chains/day fell to 0.05 and about 1XPM a day on my multiple 8 core xeons. Thats not even worth the electricity to run them, and I’m paying .05 kwh.

They’re still solving work, but its not really worth it.

Probable prime chain found for block=d0afb3d630abc9b67be997d3126bb2e30becaa57f41037da58ec59b690dc9a43!!
Target: 0a.22d6d7
Chain: TWN07.c5f196

All the pools are about the same profitability, I tried ypool and beeeeer, and approximately the same chains/day.

Someone has added a massive number of cores to the network, just look at ypool: 40527 workers. Thats gone up 6k since yesterday, and their overall blocks mined per pool has gone down.

I guess I’ll wait till the next coin comes out :stuck_out_tongue:

Yep, it’s not even worth using energy efficient CPUs…

I tried to calculate building a setup with Core i7-4765T. Very energy efficient. But it costs $1,000 just for the CPU.

Other i7s don’t make it affordable either after accounting for the motherboard, ram, hdd, electricity… So the only affordable solutions are through a VPS and most are expensive. I looked at some Opterons but came to a similar conclusion.

I’m shutting all mine down. With 32 Xeon cores I’m getting .3 chains/day right now.

Hi guys Im new to mining. Greetings from Bulgaria, first of all Im using a stupid quad core Q8400 overclocked to 3 Ghz so ima mining with primespec variating from 600 to 780. And for 2 days still nothing maybe im doing sth. wrong. But on the topic somebody is developing miner for GPU’s and this, I personally think, is not good http://sourceforge.net/projects/primecoincpugpuminers/ . I was just thinking of lunching some cell processor servers for mining but I,m not sure if it worth now. :frowning:
P.S price for electricity here is 0.09 eur /kwh during the day and 0,055 during the night.

[quote=“sathoro, post:8, topic:1179”]I have 10,000 workers and I think it is funny you think I’m mining at a loss :slight_smile:

edit: I just received the following contact form submission from my company’s website:

"I’m quite certain that one of your employees, [my name removed], is hacking client servers to mine a crypto currency called primecoin. I’m quite certain that the user Satharo on this forum is [my name removed].

http://www.peercointalk.org/index.php?topic=1659.0"

I know it is pretty easy to find me through Google since I re-use this username but that doesn’t mean you need to try and police the internet. If I was still working for a company rather than owning my own it would be a very awkward conversation tomorrow. Don’t jump to conclusions and start trying to get people fired and their careers ruined, good lord.[/quote]

That would be the most prudent thing a boss or management would do.

Just apply common sense.

I know some programmer in Australia was fired for installing bitcoin mining tool on their work computers. That basically sets a precedent.

There is no free lunch. I’m not even going to bother warning you, but what you choose to do can affect your future career prospects.

Even if you are the system administrator. If management sees the electricity cost skyrocket then there will be toruble, and from my past work I know that they will run statistical analysis to optimise costs from trivial things like how much paper is used in the printer to how many toilet breaks you take. They will find you, it doesn’t matter if you control the support system or not. If it is your own business, you are almost definitely running at a loss without knowing it.

Some bean counter will probably get you in trouble.

[u][i]Remember, it’s not even your equipment.

Why don’t you guys have any common sense?[/i][/u]

The worst case is that they take you to court and sue you for damages, but this will depend on the severity of the case and whether you have any financial assets.

For your actions, you only have yourself to blame. Don’t use “psychological projection” to blame others…

All I’m saying is that people have lost their jobs in doing such mining on company computers http://www.crikey.com.au/2011/06/22/tips-and-rumours-481/ is the australian guy who was using the ABC servers.

If you post something like:

“I’m quite certain that one of your employees, [my name removed], is hacking client servers to mine a crypto currency called primecoin. I’m quite certain that the user Satharo on this forum is [my name removed].”

You are suggesting that there are people already looking into and aware of your activities, and from what I am reading you are not the system admin… and then you are?? but why would you be listed as “hacking” the servers…

anyway just play safe, if its your hardware to use then thank you for supporting primecoin. If not then do not expect to be at your current job much longer!! For the coins you will earn let me tell you it is just not worth it if it is not your hardware… had you bought the coins with a little from your monthly salary then you will find you accumulate much more coinage and less stress for yourself always looking over your shoulder to see who is watching your activity

Fuzzybear

Cool sounds like a lot of misunderstanding, and now be ready for a lot of jealous people looking in awe at ur 10,000 workers!! So u pool mining or solo?? Care to share any stats or issues u found in setting up the farm?? Or maintaining it ?? Useful insights that are not usually experienced by many
Fuzzybear

Sent from my HTC Desire using Tapatalk 2

That is just insane. :o

@FuzzyBear Probably pool, since he’s talking about “workers” here…

[quote=“sathoro, post:13, topic:1179”][quote=“FuzzyBear, post:12, topic:1179”]All I’m saying is that people have lost their jobs in doing such mining on company computers Tips and rumours, Jun 22, 2011 is the australian guy who was using the ABC servers.

If you post something like:

“I’m quite certain that one of your employees, [my name removed], is hacking client servers to mine a crypto currency called primecoin. I’m quite certain that the user Satharo on this forum is [my name removed].”

You are suggesting that there are people already looking into and aware of your activities, and from what I am reading you are not the system admin… and then you are?? but why would you be listed as “hacking” the servers…

anyway just play safe, if its your hardware to use then thank you for supporting primecoin. If not then do not expect to be at your current job much longer!! For the coins you will earn let me tell you it is just not worth it if it is not your hardware… had you bought the coins with a little from your monthly salary then you will find you accumulate much more coinage and less stress for yourself always looking over your shoulder to see who is watching your activity

Fuzzybear[/quote]

The only person “looking into my activities” is somebody on this forum making assumptions from a single post I made. They then submitted a contact form through my company’s website that routes to my email address, as I am the owner.

When I said “my company’s contact form” and said “I own my own [company]” I thought it was clear I was the owner of the company. Anyways… I am just trying to say everyone needs to stop jumping to conclusions because somebody can work somewhere and be mining Primecoin independently. It is completely not needed to try and get them fired. I do not agree with any of the people who are system admins and use computers they don’t own and don’t pay electricity to mine coins. That is not cool.[/quote]

It can’t be me as I can’t see who is mining a lot and who has access to the pool’s ip addresses. This is looking more like you got owned writing from fake statements…

Either way, be open minded about a big electricity bill, wherever it is you live…

I’d be surprised if you aren’t running at a loss. I can’t see any calculations you have put forward for your argument.

I’m not writing bs. This was the main reason I wrote the thread up. Electrical costs.

Add additional air conditioning costs, if not, add costs of hardware failure.

The only reason why a VPS like DigitalOcean earns money is because the miners are subsidised by the other clients that use less CPU resources. Note how many other cheap VPS will boot you off in their terms and conditions. Moderately priced VPS won’t kick you off but their prices exceed $0.007 an hour per core.

  1. Intel i5 3570k (77W)
    Intel Core i5-3570K (3.4GHz/5GHz)Load 161W Stock 3.4Ghz - Load 267W@5.0Ghz.

And

Xeons aren’t that much better.

I’m beginning to think what you wrote was fake unless some pool operator can come on here and confirm that they were doing something.

You came to show us that you have 10,000 workers. We are here, the thread itself is to show you that it is illogical. Are you making the network more secure? Who knows. Probably not since you only added a few extra workers in percentage terms.

Either way, good luck, you do whatever you want to do.

0----0 You quote
Don't jump to conclusions and start trying to get people fired and their careers ruined, good lord.

but it is in conflict with

I do not agree with any of the people who are system admins and use computers they don't own and don't pay electricity to mine coins. That is not cool.

because they would be allowed to. They wouldn’t be fired. So, that’s a strange argument to put forward… Furthermore, you support those who should lose their jobs mining with equipment that they don’t own, exactly the opposite to the first statement.

If anything, I’ve helped you to understand the costs of mining but you confer the blame back to me just as I have mentioned with the psychological projection. Use Wikipedia if you need it.

[u][i][b]I own the hardware. I pay the electricity. I don't need you making ridiculous assumptions and telling me I am operating at a loss or doing something illegal.[/b][/i][/u]

Seriously, get over yourself.

If I google your name satharo which you mention as the link to someone finding you but I can’t find anything online that even links you to a company. That makes it even more suspicious. Furthermore, what small/medium enterprise has the spare capacity for 10,000 workers? A large enterprise would most likely mean you don’t own the company, at least not by yourself.

Therefore, even with a privately held firm, the bean counters will come and look at the electricity bill rising a lot and probably call in some electricity auditor, which may lead to IT security being called if they find computers are using a lot more than usual. You can hide a primecoin miner, but how do you hide an electricity bill that your fellow investors are looking at with a puzzled face.

It's also not a trivial amount:

10,000 say 50 watts each per hour (very conservative). 500 kilowatts per hour. 12000 kilowatts per day.

At $0.07 per kwh. $840 a day in additional costs. $306,600 extra a year.

I am also puzzled at how the person who was looking for you would know your real name. If and only if they saw your name, it would most likely state CEO next to it and so the message you would have received would not be stating “employee”.

People lie, but the mathematics tell another story.

I’m retired now, so I have time to analyse things. But seriously, I’m beginning to think you are actually an employee trying to cover up something. Have some business ethics and do the right thing.

[quote=“sathoro, post:17, topic:1179”]lindatess:

Arguing with you is funny, because you don’t listen and have terrible reading comprehension.

I do not need to tell you how I have the servers, nor do I need to divulge my electricity costs to you, but again I think it is funny you think I am stupid enough not to consider them. You probably have a fraction of a percent of the number of servers I do so I don’t need you trying to help me understand the costs of mining. But again, the servers are solely for mining and not related to my business. Ever heard of marginal costs? No probably not.

“If I google your name satharo” You misspelled my username, great job.

“Furthermore, you support those who should lose their jobs mining with equipment that they don’t own, exactly the opposite to the first statement.”

No I absolutely do not - I am saying that they should not be doing that, but that people should not start emailing people’s employers based off a single comment on a forum. See the difference? Just because somebody has servers mining Primecoin doesn’t mean they belong to their employer, and certainly doesn’t mean you need to try and be a hero by opening up a workplace investigation based off a single comment.[/quote]

How does a web developer have access to 10,000 spare workers?

Furthermore, I’m not trying to be a hero. I wasn’t even the one who complained. So therefore, the evidence is right here in front of us.
I couldn’t even find you. ;D :o :wink:

Whoever it was has done a good job, because being ignorant and not reporting potential offences is not something I think you should support. You will need someone to do exactly what you have said not to do, in order to find the real thieves.

Why would a web developer need 10,000 spare workers?

Furthermore, I took a look at your github and it seems empty except for something noticeably that caught my eye.

I mean even your whois states you are using digitalocean to run your webservers.

Strange indeed.

From your whois:

France - 19c per kilowatt on average. o_O How can you even be making a profit?

http://theenergycollective.com/lindsay-wilson/279126/average-electricity-prices-around-world-kwh

Whoever it was has done a good job, because being ignorant and not reporting potential offences is not something I think you should support.

Idon’t know, it seems to me it takes a real POS to stick his nose in where it doesn’t belong. I think it’s hilarious that whoever tried to screw sathoro ended up informing on sathoro to sathoro.

It’s not anyone’s business to be the policeman of the world, but it shows that there’s always someone who just can’t wait to mess up someone else’s life . . . usually out of jealousy or envy . . . far less out of some noble sense of doing the right thing.