/biz/ - Business & Finance

I do.

But I am OP.

Dumping when it hits $10 during alt season

Mining in my spare time? Mining is what happens while I'm doing other things

>>8000459
Nice dude. Wanting to play games while I mine but afraid my GPU cant handle it

>>8000352
I'm holding a small amount that I mined a few weeks back. My issue with coins like this is they're purely speculative; I'm essentially buying on the assumption that somebody else buys on the assumption that it will go up in value.
Sure it has no shitty premine and a
>>>>>>>>friendly + open community
but literally what problem does it solve?

>>8000528
What problem do many coins solve? I'd say at least 99% of coins are highly speculative at this point.

I know its an ETH fork but i'm sure it could develop into something more unique given enough time.

>>8000552
Sure but why would you throw your hashing power at something like ELLA that doesn't currently attempt to something as opposed to mining ETH and buying a different shitcoin with a small market cap that at least tries to solve a problem. For example I threw a few hundred pounds at Cappasity, because whilst it's probably destined for failure, it attempts to solve a problem and has a lot of room to grow in the market

>>8000352
>>8000552
>huge potential
>it could develop into something more unique
Right... Nice shilling in order to switch rigs.

I hodl some Ella and you all should too

>>8001437
Don't care if you switch rigs or not, just trying to help out. Not many mineable coins out there with low marketcap and high potential

>>8002338
How much you holding? Made a solid .4 ELLA in 6 hours lmao

I think PIRL is a better choice but they both are ok

>>8003313
Any reason why? New to this

>>8003313
Actually Musicoin(MUSIC)!
No wait, EthereumClassic(ETC)!
No, no, ...

>>8000352
I got a shit hardware and only mined like 8 ELLA.

will i mine something with fucking ASUS laptop?

>>8003807
Doesn't hurt to try. With an R9 380 im getting 20 TH/s which equates to about 2 ELLA a day

bump

>>8000352
how do I set up a miner and point it to a pool?

I mined this shit for a few weeks after some anon came in here and gave everyone a bunch. I've started mining Akroma recently too, just another, newer, ETH-like coin.

>>8004718
https://pool.ellaism.org/#/help

download Claymore miner, extract it to wherever (it'll come as a false positive but everyone on BTT uses it)

go to config.txt in that folder and enter the information its asking on that page I linked under the Stratum Mining with Claymore section

if you have any more questions let me know

>>8004762
What are the rewards looking like?

>>8004775
still retarded. why not mine the most profitable coin and use it to buy more of the shitcoin?

>>8005481
some people want to support the network

>>8005431
Kinda weak, but just speculating it'll be worth something. I don't even think its on an exchange yet. Probably mined 25 AKA (total supply will be 100 million) in about 36 hrs of mining? Running an AMD 290x

>>8003297
I have 450 (which I bought since I have no mining equipment)

An community driven Ethereum without pre-mine is a solid investment compared to other shitcoins that have similar market cap. Especially with Ethereum going in the wrong direction atm

>>8005950
Thinking ETH miners will split off to ETC, UBIQ, and ELLA if it switches to PoS

>>8003807
not without a dedicated gpu. cpu mining is usually pitiful.

>>8005679
Its on cryptopia

I honestly feel like this is the kind of coin that if Vitalik ever left Ethereum he would come here. Who knows... Maybe he is Ellaismer?

>>8006659
The github looks pretty active as well

>>8000352
thanks OP just mined 100k

>>8006819
If there was ever a low cap coin to put some money on this is it IMO

>>8005481
Ssssh, too much logic... Let them "support" network.

>>8006849

Who is this semon demon

This is a hidden gem. Will take awhile to get going but should be a good find in the long run.

>>8007305
shoo jew

>>8007443
anything that is referred to as a "hidden gem" throws up red flags straight away

>>8007819
nah but it actually is extremely low marketcap, could easily 10x

>>8007819
realize that the coin got listed on cryptopia for free as well as being the only shitcoin with Trezor support

>>8000352
The problem with ELLA that nobody has ever been able to address is that specifically because it has no pre-mine and a massive inflation rate for the next 20 years or so, there is HUGE downward pressure on an individual coin's value. It's going to have an incredibly hard time ever mooning. Seems like a nice project because we can all agree ETH is a premined shitcoin but this is going to be a tough sell to investors.

>>8008351
It'll take over 40 years to mine all the Ella though

>>8008380
Yeah I realize that but the block rewards don't really start to diminish and taper the supply side until like 12 or 13 years from now, at least according to the devs estimates. Do you really want to be holding for all that time?

>>8008469
At what point would its mooning capabilities be slowed down though? Recently had a quick run from here to about $5

ELLA is a great community coin that has so many good things going for it. It was up to speed and stable incredibly fast from the time of its launch. It's primary current goal is to lay the foundation for a highly distributed Ethereum clone without a pre-mine or fees.

For such a tiny coin it has a ton of support from the Ethereum community.
-native support in MyEtherWallet, MyCrypto, and Metamask
-built in support in the latest version of Parity
-there will even be a section on it in the Mastering Ethereum book by Andreas M. Antonopoulos and Gavin Wood

Why is it important to support a community based version of Ethereum? Because ETH and in turn ETC had 70ish million of their current supply distributed to a relatively small group of people at launch. Read more about it here: https://ellaism.org/comparison/

>>8008761
It's mooning capabilities are already not great since there is still so much unmined ELLA out there waiting to get dumped on exchanges some day.

As for the run over $4 I think that was just the initial spike and dump by early profit takers that had been mining for a while. There is some legitimate reason to by excited about ELLA but I just don't think that translates to a great investment today. You'll notice that the volume on those days during its ascent far exceeds anything over the past month or so. There just isn't a lot of liquidity on exchanges for ELLA so it wasn't that hard to manufacture a pump if some of the bigger holders decide to put up a huge sell wall and then coordinate a bit.

In summary, ELLA is in a state of permadumping until probably 2030 or so.

>>8009004
Hahah! N-nice fud! Im not super techy so Ill have to DMOR on this. Thank you for bringing this up.

>>8009004
>No premine means you will get dumped on for 30 years by miners.
Seriously that doesn't even make any sense.

The coin supply will increase at a greater percentage rate for the first few years then a coin that has 70 million pre-mined-- basic mather there. Would you rather mine a coin where the founders gifted themselves millions of coins, or a coin you can mine with the rest of the community for your share?

And obviously ELLA can get squeezed and moon. Around the time of that spike in Dec., Wei Tang from ETC dev team started posting design specs for ELLA. https://github.com/ellaism/specs
Interest grew and ELLA got squeezed upwards for a few weeks because there was literally nothing for sale.

what pool/miner/script are you running? share more info about mining this coin plz.

>>8009332
Look at the Ellaism discord

>>8009332
www.youtube.com/watch?v=Eo6MTEviTjk
also check out https://ellaism.org/mining/

You can also find help in the discord in the mining section.

This is without a doubt the #1 coin I recommend to IRL friends who want to get into crypto and mine something.

>>8009515


just set it up, this is just like mining akroma. no profit in this... better off mining the most profitable coin and swapping to these if they become fuck all. under 19k total traded in this market in the last 24 hours, not very promising.

>>8009642

why would you recco this over mining the most profitable coin? mining poolhub is what i recco to the newbs. or minergate. because its easy.

>>8009769
Even with it being down recently, its sitting at #8 on whattomine.com
Really not much less profitable than anything above it and it is typically always near the top few spots. Of all the coins above it, I think it has much more upside potential. If you can hold for even a few months, I believe it will do very well when the market turns. If you can hold long term, the upside is huge.

>>8009231
>The coin supply will increase at a greater percentage rate for the first few years
Try the next like, 12. Look at the projected emission curve. I already said ETH is shit because of the premine, I'm not defending ETH. I like the idea behind ELLA but I think it's going to be suppressed for a long time by subsistence miners. Supply vs. demand.

>>8009769
>coin moons in the mean time while you're mining Ethereum

>>8010117
>I like the idea behind ELLA but I think it's going to be suppressed for a long time by subsistence miners. Supply vs. demand.
With a tighter inflation curve people complain that they missed the boat if they didn't get in early enough. With a looser inflation curve, some will complain they are not being rewarded enough for getting in early. It's hard to make everyone happy, but I think ELLA's monetary policy strikes a pretty healthy balance.

Where BTC will take about 10 years to cross over to 3% annual inflation, ELLA will take about 16. A lot of people enjoy having the opportunity to mine a coin with a similar monetary policy to BTC with only about a 50% longer inflation curve-- and ELLA is in the first 6 months. Also nobody is sitting on a million coins like Satoshi.