Below is a running discussion on Bitcoin vs. The question is how are these new currencies different or any better? Dogecoin go watch your favorite TV dogecoin and come on back. I posed that question to try to figure out if gpu same holds true in Quarkcoin. I do not think that, say, Bitcoin miners carry qrk resentment towards non-miners, since they are being paid more than mining costs mining least, they are if they made wise investments in hardware. So, comparing apple to gpu will not help here QuarkCoin postulates in opposition qrk mining race in case of Bitcoin.
However, read on — you can start mining even before your wallet is fully synced. A total cap of only 21 million bitcoins will ever be released, up until the year So it makes no difference. I posed that question to try to figure out if the same holds true in Quarkcoin. Quark Home Buy Quark Quark vs. The GTX is also a more attractive choice for building multi-GPU mining rigs at the moment as compared to the GTX , though you might want to wait a bit more for the non-reference designs to come out that will allow more serious overclocking and thus even better performance. Made this topic as a reminder.
Here is a little infographic we did to compare Quark's speed mining a few other cryptos. Regardless qrk seems that the GTX Mining cards are doing dogecoin well in terms of overclocking in general, qrk you should expect an nice dogecoin performance gpu from them and even more from the non-reference designs. Windows wallet gpu Mac OSX wallet You will need to wait for the blockchain to download if this is your first time using the wallet. No, it is not. Is not true for Bitcoin or, Litecoin earlier? Log in or sign up in seconds.
Compare to top-tier coins top 15 coins , QRK is in advantaged position due to its low maintenance cost that means it can sustain its current price and future price even if 10 times.
Is not it true for Bitcoin or, Litecoin earlier? Now we know that perhaps investing is more profitable than mining. But heh they are two different class- miners and investors.
Please see also- http: The point on low maintenance cost is an important one, but it is far too easy to see low maintenance cost as a definitely good thing. The important thing for a coin is to have a reasonable maintenance cost.
Certainly coins which will double in money supply in the next few weeks are at a sever disadvantage, but a coin that gives no incentive to mine is also at a disadvantage as it presents a lucrative target for attackers while maintaining low security. You state "QRK does not need big hashing power Any proof-of-work cryptocurrency wants its hashing network to be as powerful as possible and allows for a certain amount of inflation to get this.
No, it is not. That is the opposite of paying more in electricity than a coin would cost on an exchange. That type of analysis was true for most Bitcoin ASICs, though--the total money spent on them would be more than the currency they would mine, and in that case the people purchasing new hardware made a bad investment. Higher hashrare inflation requires when difficulty is very high and changes on longer period large no. So, requires inflation of hashrate to overcome such event.
But difficulty will be re-adjusted to hashrate. Also, it changes difficulty just after 20 blocks which is very fast. You did not get my notion- investing is more profitable than mining what I mean. I did not mean mining at loss in electricity value is profitable. Yes, at current value mining a coin can be at loss.
But people mines a coin at variety of reasons. Why do you always want to see it fail? We have had two lengthy discussions about this before and I have given you so many more reasons and more of my time explaining it then perhaps I should have, And you still come back with these same questions.
Is this why you keep trying to discourage people from mining? It is a unique project with unique properties and a great community that has all the chances of being a real contender. I mine Quark because it is still more profitable than Bitcoin - yes, because the true value of Quark is yet to come.
People in this community are not stupid, you know. There are not going to be many more Quarks and that will cause the price to increase quite dramatically to extent that even 1 QRK per block is going to be a very worthy incentive to mine. I mine Quark because I see it as my small contribution toward building an alternative world with no greedy banks. I mine Quark because I believe that Quark is much more sustainable in the long-run than Bitcoin, Litecoin, Primecoin or any other coin that pops up each day for short-term pump-n-dump purposes.
I also tried mining your favourite Primecoin, which after 7 days of mining the pool didn't even bother to pay me. And another thing about Primecoin, I just don't feel that it is offering anything that useful as to muster such a large hashing power. I and many other people here mine Quark for many more reasons that a purported rational game-theorist like you might never understand.
Why do you love Quark so unconditionally? Why are you so averse to anyone who seeks to explore potential flaws? I can do that too, but notice how much it got us--nothing. Instead of resorting to ad hominem again this is not the first time I've had to call you out on that let's focus on the facts.
Yes, we had length discussions where you gave various reasons why a hypothetical person might want to mine Quark, but I wanted to follow that up with a poll of real people to see how our discussion matches reality.
That is my instinct as a man of science--I discuss with fellow academics to determine possible explanations then I seek to verify those hypotheses by direct observation. In this case that means asking people, so here we are. Thank you for casting your vote on why you mine. Ideally I'd like a sample size of more than 2, but I'll take what I can get. I've taken the time to write a script that scans the Quarkcoin blockchain as it is produced, looking for orphaned blocks and, more importantly, transactions.
I've seen in the past 48 hours a chain of 5 blocks be erased and overwritten; a new orphan happens every few minutes, usually harmlessly. That is not the mark of a healthy coin. I've done my homework and Quark is the clear outlier in the data, and I've yet to see a mathematically supported argument that contradicts mine. I don't hate Quark, but I also don't trust it. I find it fascinating as a social experiment, just as Bitcoin is fascinating as a social experiment either of these experiments can have far-reaching effects.
Understand that I want to be wrong about the security of Quark. I'm just not to that point, and your tendency to turn hostile when questions are raised isn't helping.
Great, we've got a thread with 3 academics colliding - no wonder the thread quickly grew to be over 3, words. I think we're essentially discussing one of the flaws in Satoshi Nakamoto's paper - the point where he discusses motivations of the miners and those of the attacker in a relatively primitive way, which doesn't tally in my book. You asking "Why do you love Quark so unconditionally? By the way, it's not "unconditionally" and it is not "love"; and I won't go into "Why?
If you want to conduct a poll for your next paper that is fine although don't see Reddit providing any polling tools , but what you are doing here is spreading FUD, for the lack of a better term, and promoting your own coin, which ain't cool by me as a moderator. As for the flaw in your thinking, I believe, I have answered that in the two comments above especially the short one.
If you genuinely like to see a coin like Quark to succeed in the long run, I suggested that you voice your security concerns to the Quark Foundation, who will forward it to the developers and I furnished you with the appropriate link to do so.
I think the developer who created a coin this ingenious coin is not stupid and if there is indeed a threat, he is taking, or maybe already has taken the necessary precautionary steps to guard against any adverse attacks. Sorry, if I misunderstand your intention. I think you did miss my intention with that. I was attempting perhaps poorly to draw a parallel to the idea of the Tragedy of the Commons. That is to say, the people who mine quarkcoin get some advantage out of it largely non-economical, but still, some advantage , but people who don't mine also get that same advantage.
The Quarkcoin network would be almost exactly as well-supported if I chose to let other people take the economic hit on mining instead of choosing to mine with my own computer s , which means that the individual can have the best of both worlds no economic loss in mining and reasonable security if and only if the majority of others make the economic sacrifice to secure the coin.
I posed that question because I was curious what someone in that position people essentially donating their mining time would think of this setup mining is not economical versus a higher maintenance coin mining is a net economic gain. I do not think that, say, Bitcoin miners carry any resentment towards non-miners, since they are being paid more than their costs at least, they are if they made wise investments in hardware.
I posed that question to try to figure out if the same holds true in Quarkcoin. Where would the world be if people were thinking in perfect accordance with your neat rational models? The greatest achievements in all human pursuits were done for passion and motivations other than short term economic gains. Here is the crux of your the flaw in your thinking: QuarkCoin is an economic experiment to nullify the mining arm-race so time will say how it navigate mining economics in future.
So, comparing apple to orange will not help here QuarkCoin postulates in opposition of mining race in case of Bitcoin. I already mentioned coins can be created without any mining activity. We can go whole day finding interpretations of interpretations. I would say we are all biased http: But I would recommend you to design a better coin that satisfy your expectation and let the world of "Common People" know and stop them doing "economic sacrifice" rather than wasting your precious??
Its not rocket science ,if you have a computer mining other scrypt coins they are using the GPU to mine ,so you may as well have the CPU mining and earning money as well: I respect the discussion you bring up and you always make good points!
While I am another Quark supporter who you probably couldn't understand, I would like to say that I understand you and hope you continue to stimulate great discussion!
My quad core i7 doesn't get dangerously hot even after days of straight mining and I don't notice any difference in my electric bill, so why not?
Besides I don't have time to figure out these other coins and get those wallets and find out how to mine them. Mining Quark, it's easy. As to why I prefer Quark to other coins, I feel like Quark is far more viable in the long run that Bitcoin or other coins with hard caps on the number of coins.
Due to coin loss BTC will one day no longer be in circulation. That day may be hundreds of years from now, but I like to plan ahead. Furthermore, with 30 second blocks, QRK is much more amenable to being an everyday payment method. Unless you're using a third party wallet service like bitpay or Coinbase, in which case you may as well use a bank or paypal you can't really conveniently buy a hot dog from a street vendor or pay for your gas or pay at the McDonalds drive through with bitcoin.
You could theoretically do all of this with QRK, and without having to use a third party service. I think QRK solves those two glaring problems with bitcoin and I have this feeling that when it all shakes out, QRK will be one if the last altcoins standing, and it will still be with us long after the bitcoin network dies out from a lack of transactions. What the hell else am I going to do with my PC while it sits around all day doing nothing?
I could tell it to fold proteins, decrypt SETI transmissions if that project is still going , or some other shit and it still costs money in electricity but it's not like we're running up thousands of dollars in costs every month.
I don't even notice it. You might notice that when you first install your Doge wallet, it has to synchronize with the network. This is typically quite a slow process and can take a number of hours.
However, read on — you can start mining even before your wallet is fully synced. The problem is that the difficulty in solving a single block is usually far too high for a single, solo miner to complete. In other words, you could be mining for days, and not solve a block, while someone else solves it in the meantime and you end up with nothing.
To join a mining pool, you just sign-up on their website. The quality of the pools varies, and reliability is a bit of an issue since some pools can go offline for various reasons. Two popular mining pools that use this model are:. They will allow you to use a miner program that supports the X11 algorithm, then whatever coins are mined possibly Darkcoin and others get automatically exchanged for Doge, and paid to your wallet address.
Update — Unfortunately both simplemulti and pandapool have now shut down. You see this reddit discussion for some suggestions, or you could try the following multi-coin pools:. Lots of Dogecoin waiting for Shibe. Because X11 is a different mining algorithm compared to Scrypt, the hashrate range is different, and usually much higher. Now you can download a miner program — Note: These miners typically use the Dogecoin Scrypt algorithm, so you may not be able to use them for mining on X11 pools.
To do this, we will change the startup parameters for the miner. First, go to your mining pool website and see if they have a Getting Started guide. Currently, the most basic way to connect to this pool using the CPU miner is by using the format:. The parameters above are the minimum you need to start working with any miner, and should often work OK without specifying anything else. CUDA Manager will use the same worker and stratum settings as above, and just choose any Nickname for the miner.
Either way, you can try starting it to see what happens. The easiest way is probably from the Command prompt in Windows or a Console shell in Linux. In Windows, you can copy the command-line in the previous section into a batch file, e. If the miner successfully connects to the pool and starts mining coins, you should see some output referring to the current hash rate. You can also visit the mining pool site after a short while to see if your stats there update. For cpuminer on multi-core systems, you can use the -t parameter to specify the number of working threads to start with, otherwise, the default is to use the max.
After a short while of mining, you should get some yay!!! This indicates that your share of work was accepted OK. To find the current value of Dogecoins in USD, go to dogepay. Just supply your wallet address and amount to transfer. Now copy and paste the wallet. Of course the value of Dogecoins may increase in the future, but it tends to be a very volatile market in the short-term.
If you want to work out the profitability of mining at current valuation rates, you can use the Litecoin profitability calculator. The maximum power consumption for this card, however, is only around watts, making it quite efficient. Power consumption can be between W. These new cards are certain to be popular with the Dogecoin and Litecoin mining communities.
The GeForce GT is a new entry level Maxwell architecture card that runs at an astonishingly thrifty 19W, and is available for less than. An ASIC is a dedicated piece of computer hardware designed to do one specific task — in this case, mine coins. However, there are serious risks involved with investing in ASICs. Got your mining rig running sweet? Time to relax with a refreshing cup of Doge.
However, perhaps Dogecoin and Bitcoin are the forerunners of some sort of more advanced, useful computational currency that has yet to be fully developed. But even without that being the case, it could be argued that there is actually an inherent value in using all of this energy, simply to make the currency workable — after all, a huge amount of energy is also expended in transferring, protecting, processing and storing conventional forms of currency, simply for the purposes of keeping those systems running smoothly.
And even carrying around cash in your wallet has an energy cost too. The Dogerush — To Infinity and beyond? What is fascinating about Dogecoin at the moment is that it feels like perhaps the start of Bitcoin felt like, except with more fun and less politics.
This seems to have helped it grow so rapidly over the recent past.
Bitcoin One block every 10 minutes (very slow transaction time). Current bounty is 25 BTC halved every , Total currency supply is capped at 21 million. What started out as being CPU mined, has quickly led to a race to secure ever faster mining hardware. CPUs went to GPUs then to FPGA, and finally to ASICs. This way you can quickly get to the GPU miner for AMD or Nvidia GPUs that you would need to use for a specific crypto algorithms, especially if you have not yet mined a coin based on that algorithm. There are of course some more coins that use other specific algorithms and may not be mineable with the GPU miners listed. Time for some overclocking of the GeForce GTX Founders Edition and running the tests again to see what hashrate increase can we expect from the GPU with the increased operating frequencies. The Founders Edition cards are somewhat limited in the max power you can get, but the good news is that the GTX