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Everything posted by sourc3code

  1. So to be clear, this is a wallet that is good for receiving/sending dust amounts? How exactly does that work, as regardless of which wallet you use, the cost of fees for blockchain inclusion is the exact same. Regardless of what you do, theres still a minimum fee amount that needs to be added with each transaction, else it will be stuck in the memory pool for quite some time. Does this wallet do something like group transactions together or something? Because keep in mind, the more transactions you have making up a larger one, the size of that transaction gets larger. And the larger the transaction, the more fees are required. Here is a good site to use to see how much fees are costing in real-time: https://bitcoinfees.earn.com/
  2. You are correct - I think most of the miners these days are really mining more for potential gains should the price rise in the future from the coin. This is a big risk though, as its been made even more real to us lately with the sudden unexpected plummet in all cryptocurrency prices. I ask this more to get an idea of where the crypto community is at in their stance on mining, as although it may not be necessarily profitable, it is something that someone has to do in order for the blockchain ecosystem to function properly. No miners = no transactions being confirmed, which means cryptocurrency dies. Given that its clear from everyone's answer above that its well known that mining isn't profitable in the short term, what are some ideas on how can the community provide alternate incentives for miners to continue mining? Especially since the difficulty increases and the amount of coins received per block diminishes, I think its important for everyone to start thinking of how miners will be compensated in the future for their efforts and resources. Personally, I don't feel that the block reward in itself will be enough to incentivize mining after a certain point as it seems that difficulty and technology speed are not linear. Yes, we're hashing more than ever, but its taking SiGNIFICANT amounts of electricity and computer chips to accomplish this. Eventually, there will be fewer and fewer miners as the profit gap closes. This will most likely cause transactions to be very expensive to have confirmed on the blockchain and the amount of time it takes will. Both of which are counterproductive to the growth of cryptocurrency. Yes, we still have time before it gets to that point but I think it is important to start thinking now. Nice - I have heard of this and I've considered doing it as well. Essentially having a "lottery ticket" running where you try and mine a block solo. The chances would be slim, but hey it is theoretically possible and there have been a few who have managed to pull it off. It sounds like you're currently having yours pointed to a mining pool - I would personally suggest pointing them to a "solo pool" where you can attempt to solve blocks with your own device. This way if you ever do find one you'll receive the full reward for the block Now wouldn't that be awesome!
  3. I've seen this work before and it has worked for me in the past. Whoever said use a big balance, do the CONTRARY. I actually tried this at the beginning of this year with approximately a 1.5BTC bankroll, and I busted within an hour of playing. When low payouts go back, they go bad and nothing will save you. As Kristoffff said, you don't need much to play with this strategy as you aren't needing to hold off compounding reds or sustain reds for extended periods of time like you would when hunting higher multipliers. I will say that with 1.3x, and using a similar technique to this, I've been able to get from around 0.03 to 1BTC twice in one night. Ultimately like any dice rolling, luck is a involved so you'll want to make sure you have plenty on your side regardless of what strategy you decide to go with. Thanks for sharing Kristoffff!
  4. I believe mine was for 0.25BTC, back in Jauary or so. I dont know what came over me, but I ended up busting a lot of coin within a few days. 0.25BTC just seemed like the right thing to do at the time I guess lol. Oh, and I hit red (of course).
  5. For me, the biggest thing I want to see is an upgrade to the auto rolling system. It should allow you to switch sides and select either "on win" or "on loss",. I think it would be great if we could have variables like this in the auto roller so that any thing can be done on loss or on win or on start. Right now the system is quite lacking for the more sophisticated strategies that most use.
  6. So I've been into mining ever since around 2014 back when ASICS were just starting to emerge, and the majority of hashing power was in graphics cards. During that time the Antminer S1 had just come out, and pushed a whopping 180GH/s in a package that was about the size of a 4u rack server. Fast forward to today, and ASICs are the standard with something like the Antminer S9 pushing approx. 14.5TH/s. Thats a massive increase, which also means there's been a massive increase in difficulty level. With this being said, are there still any miners out there who have been mining since a few years back and see it as still profitable? In most cases, mining BTC is NOT profitable immediately, but people usually do it in hopes that the price of BTC will rise in the future, which would compensate for any diminished gains now. Also, I wanted to ask are there any out there who are mining with the new FPGA cards? These are supposed to be the new standard for mining especially with certain coin algorithms that require more memory. I've considered trying one out, but heat is supposed to be a big factor with these cards and poor dissipation of heat will easily cause premature failure with the units. Has anyone had any experience with them?
  7. Honestly, I think it will remain around where it is right now, around sub $4k or so. Last year had a major rally, but they also did have this stupid fork right now thats caused much confusion and downtime for so many services. I think it will take until beginning of next year before we start seeing more gains again.
  8. I used to use BTC ATM's in the past, however the price for BTC on them are quite high nowadays. The only reason why I'd ever use one is for emergency purposes. There are many ATMs around where I live, even in a 10 mile radius.
  9. Im not sure about credit cards, but with a debit card you can using the iOS wallet Edge. They work with a third party company to offer buying BTC with card. Give it a try, its def above market price, but you can't expect it not to be when the processor has to take a risk from card purchases.
  10. This is an old thread, but the short answer is no - Most cannot make a living off gambling as most things you play are negative EV. Meaning you're bound to lose with wagers over time. Unless you consider a job losing money, then I'd look elsewhere. The only way I see someone making money off gambling would be through playing poker at the tournament level. But that is not actual gambling like it is here.
  11. I buy litearlly anything thats on Amazon with BTC using Purse. I save 15% usually on anything on Amazon using BTC so its a great offer. I also pay for my phone bill using Bitrefill with coin as well. Eventually, Id like to find a gas station that offers gas fillups using BTC - That would be awesome!
  12. Too long to remember In all seriousness, Im not sure - I definitely know it was over 10. I think it also matters if you change sides or not and if you're talking about 50% chance or whatnot.
  13. Also matters that it was a WINNING bet.
  14. Governments. Many governments are scared of it (USA being one of the worst, just covertly) bc they cannot directly control it. So as a result, they spread FUD and cherry pick stats about BTC being used to fund terrorism to reduce its value compared to fiat, something they have complete control over. The government usually messes up everything these days, itโ€™s very clear that lately government organizations are all businesses trying to make money now rather than doing whatโ€™s best for the citizens. Bunch of haters and dirty scammers that do it โ€œlegallyโ€.
  15. One more btw: Bet: 22,209,738,018 placed by sourc3code on Invalid Date Wagered 0.00004000 Multiplier 9.90x Profit 0.00035600 Hit this within 61 bets of trying to hit 990x Bet: 22,194,076,559 placed by sourc3code on Invalid Date Wagered 0.00000100 Multiplier 990.00x Profit 0.00098900
  16. Damn biggad, wtf! I lose 0.04 yesterday and you're over here KILLING it. Congrats bud
  17. Bet: 22,164,437,446 placed by sourc3code on Invalid Date Wagered 0.00000100 Multiplier 990.00x Profit 0.00098900 Not sure why my roll posts always show invalid date...please verify and you will see that it was placed today
  18. Bet: 22,142,212,882 placed by sourc3code on Invalid Date Wagered 0.00000100 Multiplier 99.00x Profit 0.00009800 Bet: 22,142,692,724 placed by sourc3code on Invalid Date Wagered 0.00000100 Multiplier 100.00x Profit -0.00000100 Bet: 22,142,728,494 placed by sourc3code on Invalid Date Wagered 0.00000100 Multiplier 100.00x Profit -0.00000100 Bet: 22,147,692,670 placed by sourc3code on Invalid Date Wagered 0.00000120 Multiplier 99.00x Profit -0.00000120 Bet: 22,147,730,657 placed by sourc3code on Invalid Date Wagered 0.00000300 Multiplier 2.11x Profit 0.00000333
  19. Bet: 21,975,456,230 placed by sourc3code Wagered: 0.00000100 Payout: 450.00x Profit: 0.00044900 FINALLY!
  20. Bc they're communist (or to be politically correct, authoritarian / same sh*t imo) and they hate anything that they cannot directly control.
  21. Both can very very lucrative, but just like anything else you need extensive knowledge and experience to continue to turn a profit from either. If you're looking to just follow trends, I'd recommend staying away from both as your chances of staying in the green overall from them are slim unless you actually put forth an ample amount of effort into learning the in's and out's just like anything else. Especially with how competitive the cryptocurrency sector is and how unpredictable day to day factors are, you need to stay ahead of the pack by dedicating your time to constantly researching and adapting. Its far easier making money purchasing coin and selling when it increases, which is what I'd recommend if you're looking to try and make a little extra coin without a large investment of your time and resources.
  22. Its probably already been hit, but was probably hit with too small of a wager or with a bot. I personally think that the jackpot will never be hit and is more for "hype" than anything else, but thats just my personal opinion...Really wish they would have made the jackpot smaller, but more obtainable. It makes a lot more sense from every angle, other than not wanting to pay out a jackpot.
  23. This is true. Even with the best software and cooling, you're still are using a much larger % of your resources mining and any electronic has a finite amount of "working hours" before components start to fail. When you mine with such software even when youre not using your computer, you need to factor in the life of your hardware and whether the amount of profit you'll make from it is worth a premature failure in something like your CPU or SSD. A lot of people will think "why not mine when I'm not using my computer since its not affecting task performance?", which isn't an accurate way to think since electronics do degrade in performance the more you use them. Eventually, this can lead to complete failure of components, which can end up costing significantly more than you made to begin with. Another thing you have to factor in is electricity. With most CPUs, you'll actually end up paying more in power running it at 100% than you'll make which is the complete opposite reason for mining to begin with. These two major factors should be considered before jumping into mining at all. IMO, its just not worth dipping your toe into mining for the few pennies you'd receive from it. You either need to be all the way in or all the way out. The only people who are making anything from such software are the developers since they are making a collective percentage from the thousands of miners using their software. There's no reason that you should be allowing your computer to be used in such a manner to make other people rich. You're literally paying the devs with your hardware and electricity for some change in your pocket. If you can grasp this concept, you definitely would be against such mining practices.