Status as of Friday, August 11, 2017

[JKDReaper]

Hi! Here's a brief status update.

• ... whether the impending end of Bitconnectcoin mining will mean a halving of scrypt profitability, the odds of ETH ever going POS, and so on.

I've been wondering for a while how long BCC will last, IMO it's clearly a ponzi scheme and could be shut down any day, but I think there are positives in Scrypt mining as well, for example we know that Charlie Lee has been touring the large Chinese miners and miner mfgs breifing them on the future of LTC, and GameCredits finally released thier app store in India on Friday, a huge market they should see some success in. To the moon?

ETH's POS strategy is definitely a concern, but even more so is X11 mining's dependence on DASH. With Particl and Syscoin offering privacy feautures and a decentralised market, I think there's a possibility that we'll see DASH's dominance eroded in the next 12-18 months.

Just remember, a rising tide lifts all boats and you clearly have a market leading service, and there's plenty of room at the top.

I think that what we're going to find as a result of this analysis is that the future of the business may end up being dependent upon become a general-purpose bitcoin and bitcoin cash mining pool.

Once Bitconnectcoin is gone, and prices fall after the bubble ends, and the market gets flooded with L3s, scrypt profitability is likely to go to 0.5 cents. After all, if the profitability was 1.5 cents before with lesser hardware, the power efficiency of this new hardware will push the breakeven point down even further.

Our concern hasn't been whether we can create the best software - that's just a matter of putting enough time into the business. The problem has always been whether the market is actually big enough to support professional businesses. I don't think it's an accident that mining is flooded with disreputable people like NiceHash, who aren't willing to disclose who they are or where they are located. If the market had insane profit potential, there would be "normal" businesses taking over everywhere.

From someone who spends hours a day watching coins on this site...Yes BCC is a very big piece of the profits here...But I see other coins pick up a lot of the slack when bcc is down for long periods. And, there are new coins added every day...There will be more bcc type profitable coins. When bcc falls off the minable coins, profit will drop, but I don't think it'll be the end all.

And on a coin note...LitecoinUnlimited shows sometimes in the error blocks, but with a daemon error. Its never shown as minable. Just bringing it to your attention.

[GAWminer27]

There is no LiteCoinUnlimited .. that I know of....there is LiteCoinUltra.

[GregoryGHarding]

hes referring to Litecoin Ultra

[JKDReaper]

hes referring to Litecoin Ultra

Ya sorry, was exhausted when I typed that lol.

[Sunegg]

The proof of work period is scheduled to end in two months, after which we'll be forced to delist it.

Still 130k blocks, should be ~6months not 2


And Steve could you look at the BCC Sellprice? It's half of what it should be. Tons of buy orders at novaexchange (i have some on my own and they simply get ignored )

Can anyone make it clear if we have 2 months or 6 months left of Bitconnect mining? It makes a HUUUGE difference for scrypt miners...

[vhmanu]

The proof of work period is scheduled to end in two months, after which we'll be forced to delist it.

Still 130k blocks, should be ~6months not 2


And Steve could you look at the BCC Sellprice? It's half of what it should be. Tons of buy orders at novaexchange (i have some on my own and they simply get ignored )

Can anyone make it clear if we have 2 months or 6 months left of Bitconnect mining? It makes a HUUUGE difference for scrypt miners...

From https://bitcointalk.org/index.php?topic=1681719.0 :
"Total PoW block : 262800" .We are at block 140414 right now and blocktime target is 2minutes. Do the math yourself

[Sunegg]

Thanks vhmanu. Yes, it seems like you are correct - which makes me happy.

It's just that Steve seemed so sure that we only had 2 months left and he usually knows what he is talking about.

[vhmanu]

Just noticed i made a mistake. I completely forgot about the PoS Blocks.

[niscky]

Hello Steve,

Unfortunately I am still waiting for a payout to occur, three days now....