15 ms·

Makes you wonder why the criminal didn't launch g2.2xlarge instances which would get 185 kH/s per instance. In fact for awhile there litecoin mining was profit

by gigq 13y ago

Makes you wonder why the criminal didn't launch g2.2xlarge instances which would get 185 kH/s per instance. In fact for awhile there litecoin mining was profitable at spot prices. http://www.completefusion.com/profitable-litecoin-mining-on-ec2/ http://www.completefusion.com/profitable-litecoin-mining-on-...

acangiano 13y ago
My guess would be ignorance. I don't think the criminal behind this knows what he is doing. A smarter criminal would have opted for g2.2xlarge instances as well as mining for a currently more profitable coin. Granted he'd need to be careful not to leave a trail, he could essentially trade these coins for LTC and still obtain more litecoins.
- gigq 13y ago
  An even smarter criminal would have "mined" the Ripple give away using EC2, there are still people paying for those instances as we speak so surely they would be more profitable than litecoin mining (assuming you sell them right away). https://www.computingforgood.org/ https://www.computingforgood.org/ https://ripple.com/forum/viewtopic.php?f=18&t=4382 https://ripple.com/forum/viewtopic.php?f=18&t=4382
  - jnbiche 13y ago
    Uh, nope. I "mined" Ripple through that little project for a couple of days (using the g2 instances) and got a couple of dollars worth of Ripple back for over $100 ec2 bill (460 hours of WCG runtime). I'll boinc on my desktop for science and goodwill but will not waste any more time on Ripple's program or indeed on Ripple itself, as brilliant as the idea is. Ripple's founders are hanging on to their 60%+ outstanding Ripples so tightly that I suspect the project will never truly get off the ground. As much as people criticize it, I think some variation of Bitcoin's seignorage mining is the only realistic way to bootstrap a successful virtual currency, at least at this point.
    - SectioAurea 13y ago
      Premined strategies like Ripple chose certainly aren't the road to success.
benatkin 13y ago
I used it to mine dogecoin using those same instructions. I either had to use an older nvidia driver version or an older version of CUDAminer, though. So it wasn't that simple to set up once CUDAminer got the update that broke the newer NVidia software. This happened near the first of the month. http://doges.org/index.php?topic=43.0 http://doges.org/index.php?topic=43.0
- Bootvis 13y ago
  Pardon my ignorance but why are you dogecoin mining?
  - freehunter 13y ago
    My guess: the difficulty is low enough that it's profitable to mine dogecoin and flip it for Bitcoin or Litecoin. I know a lot of altcoin miners do this, and there are some pools (middlecoin) that are geared towards this.
    - Bootvis 13y ago
      I'm even more amazed that there is demand for dogecoin then. I see the value of LTC and others but what is the USP of dogecoin?
      - mjhoyer 13y ago
        It was created as a joke altcoin, but some people actually desire it. Most likely to flip it, or just to say they own some.
      - SectioAurea 13y ago
        The doge brand is the USP. Most LTC clones are already largely undifferentiated, so this is actually a strong contender given it's technically almost identical to the rest.

by gigq 13y ago

acangiano 13y ago

My guess would be ignorance. I don't think the criminal behind this knows what he is doing. A smarter criminal would have opted for g2.2xlarge instances as well as mining for a currently more profitable coin. Granted he'd need to be careful not to leave a trail, he could essentially trade these coins for LTC and still obtain more litecoins.

gigq 13y ago
An even smarter criminal would have "mined" the Ripple give away using EC2, there are still people paying for those instances as we speak so surely they would be more profitable than litecoin mining (assuming you sell them right away). https://www.computingforgood.org/ https://www.computingforgood.org/ https://ripple.com/forum/viewtopic.php?f=18&t=4382 https://ripple.com/forum/viewtopic.php?f=18&t=4382
- jnbiche 13y ago
  Uh, nope. I "mined" Ripple through that little project for a couple of days (using the g2 instances) and got a couple of dollars worth of Ripple back for over $100 ec2 bill (460 hours of WCG runtime). I'll boinc on my desktop for science and goodwill but will not waste any more time on Ripple's program or indeed on Ripple itself, as brilliant as the idea is. Ripple's founders are hanging on to their 60%+ outstanding Ripples so tightly that I suspect the project will never truly get off the ground. As much as people criticize it, I think some variation of Bitcoin's seignorage mining is the only realistic way to bootstrap a successful virtual currency, at least at this point.
  - SectioAurea 13y ago
    Premined strategies like Ripple chose certainly aren't the road to success.

benatkin 13y ago

I used it to mine dogecoin using those same instructions. I either had to use an older nvidia driver version or an older version of CUDAminer, though. So it wasn't that simple to set up once CUDAminer got the update that broke the newer NVidia software. This happened near the first of the month. http://doges.org/index.php?topic=43.0 http://doges.org/index.php?topic=43.0

Bootvis 13y ago
Pardon my ignorance but why are you dogecoin mining?
- freehunter 13y ago
  My guess: the difficulty is low enough that it's profitable to mine dogecoin and flip it for Bitcoin or Litecoin. I know a lot of altcoin miners do this, and there are some pools (middlecoin) that are geared towards this.
  - Bootvis 13y ago
    I'm even more amazed that there is demand for dogecoin then. I see the value of LTC and others but what is the USP of dogecoin?
    - mjhoyer 13y ago
      It was created as a joke altcoin, but some people actually desire it. Most likely to flip it, or just to say they own some.
    - SectioAurea 13y ago
      The doge brand is the USP. Most LTC clones are already largely undifferentiated, so this is actually a strong contender given it's technically almost identical to the rest.