I'm not sure if it is still around but loads of people were going on about MTgox
BitInstant. Also, what the hell? We hit $15 then it dropped like a rock to $12. [url]http://bitcoincharts.com/charts/mtgoxUSD#rg2zig5-minztgTzm1g10zm2g25[/url]
Anyone think I should invest a small fortune (£50) into it and see what happens and ill post updates so you guys can track my progress.
My 6950 isn't shown in GUIminer, any idea how I can use it with GUIminer?
[QUOTE=Mindfuck 2;37332795]My 6950 isn't shown in GUIminer, any idea how I can use it with GUIminer?[/QUOTE]
It should show as Cayman. If it doesn't then update your GPU drivers.
[QUOTE=Mindfuck 2;37332795]My 6950 isn't shown in GUIminer, any idea how I can use it with GUIminer?[/QUOTE]
I'd suggest using cgminer, you can set the "intensity" and bring your card to its knees/leave it just enough spare cycles to render an interactive desktop as you wish, or anywhere in between.
[editline]20th August 2012[/editline]
Is it still best to use the 11.12 drivers or whatever for their earlier APP SDK version? I'm barely getting 320 MH/s at 900 MHz on my 5850, while some people were getting 400+. I'm currently using the 12.6 release iirc
Wow. cgminer is complicated as fuck to set up. No thank you.
[editline]21st August 2012[/editline]
Also, do you guys have ever even made enough bitcoins to buy anything?
Hello guys, I've recently ran into a good chunk of change, due to my mom's death. I wanted to invest that money but I don't want to gamble with stocks or anything. I think it would be better to just spend this money on a really goodass rig for mining and try and make a profit on my investment.
I have $5,000 to spend on building a server or multiple rigs. The thing is, I'm not up to date on the necessary hardware, or if it would even be worth it to start mining. Could I get some help?
[editline]21st August 2012[/editline]
I've done some reading, and apparently FPGA is much more efficient, I''m guessing I should use an FPGA miner instead of GPU mining.
[QUOTE=Mindfuck 2;37339941]Wow. cgminer is complicated as fuck to set up. No thank you.
[editline]21st August 2012[/editline]
Also, do you guys have ever even made enough bitcoins to buy anything?[/QUOTE]
I have purchased Killing Floor twice using bitcoins (once for myself, and once for a friend of mine). Sadly the place I purchased it from is down at the moment (steamcoin.com). When it comes back up, I might also get CS:GO.
I've got a whopping 2 BTC :v:
[QUOTE=jakedog;37341029]Hello guys, I've recently ran into a good chunk of change, due to my mom's death. I wanted to invest that money but I don't want to gamble with stocks or anything. I think it would be better to just spend this money on a really goodass rig for mining and try and make a profit on my investment.
I have $5,000 to spend on building a server or multiple rigs. The thing is, I'm not up to date on the necessary hardware, or if it would even be worth it to start mining. Could I get some help?
[editline]21st August 2012[/editline]
I've done some reading, and apparently FPGA is much more efficient, I''m guessing I should use an FPGA miner instead of GPU mining.[/QUOTE]
Yes, FPGA miners are about 10x more power efficient than GPU mining, but even then, they'll still take about 2 years to pay themselves off. One of them will generate about 1 coin (~$10) per week at current rates (0.5 coin/week after the reward split in December.) If you wanted to do GPU mining, just build yourself a really nice gaming PC and use the latest-generation AMD cards, like SLI 7970 GHz editions, and then mine on those. Two 7970's configured properly could generate about 4 coins (~$40) per week. Don't use nvidia cards, they're terrible at mining. An nvidia card compared to an AMD card that has equivalent gaming performance will mine bitcoin about 5x slower.
[editline]21st August 2012[/editline]
[QUOTE='[EG] Pepper;37342764']I've got a whopping 2 BTC :v:[/QUOTE]
I mined about 4 bitcoin in June with my 5850 and let my friend, a very good poker player, play with it online - he turned the 4 coins into 36, and then went all in (despite me telling him not to because it was all I had) and lost it all. I'm finally back up to about 4 coin, and I'll probably have him try again but only deposit 1 coin in at a time, and immediately withdraw and take out 5 coin as soon as he hits 10+.
[QUOTE=mblunk;37343650]
I mined about 4 bitcoin in June with my 5850 and let my friend, a very good poker player, play with it online - he turned the 4 coins into 36, and then went all in (despite me telling him not to because it was all I had) and lost it all. I'm finally back up to about 4 coin, and I'll probably have him try again but only deposit 1 coin in at a time, and immediately withdraw and take out 5 coin as soon as he hits 10+.[/QUOTE]
Where did he gamble? Sounds like a good way to multiply them.
[QUOTE=Mindfuck 2;37343803]Where did he gamble? Sounds like a good way to multiply them.[/QUOTE]
A site called sealswithclubs.eu
[QUOTE=jakedog;37341029]Hello guys, I've recently ran into a good chunk of change, due to my mom's death. I wanted to invest that money but I don't want to gamble with stocks or anything. I think it would be better to just spend this money on a really goodass rig for mining and try and make a profit on my investment.
I have $5,000 to spend on building a server or multiple rigs. The thing is, I'm not up to date on the necessary hardware, or if it would even be worth it to start mining. Could I get some help?
[editline]21st August 2012[/editline]
I've done some reading, and apparently FPGA is much more efficient, I''m guessing I should use an FPGA miner instead of GPU mining.[/QUOTE]
Good god you're a chump. You don't want to gamble on the stock market but instead you want to gamble on an incredibly unstable internet currency? There are like a million better ways to invest your money.
And no, mining is not worth it, even assuming some weird world where bitcoin is stitting at a stable $10.
[QUOTE=Lazor;37346903]Good god your a chump. You don't want to gamble on the stock market but instead you want to gamble on an incredibly unstable internet currency? There are like a million better ways to invest your money.
And no, mining is not worth it, even assuming some weird world where bitcoin is stitting at a stable $10.[/QUOTE]
Stock markets and bitcoin are both completely random, how is the stock market randomness better than bitcoin market randomness? Bitcoin is more volatile, yes, but with greater risk comes greater reward... anyone talking about the stock market should at least know that much. Also, mining can very much still be profitable, especially with upcoming ASIC devices (do you know what those are?) and despite currency valuation variations.
[QUOTE=mblunk;37347580]Stock markets and bitcoin are both completely random, how is the stock market randomness better than bitcoin market randomness? Bitcoin is more volatile, yes, but with greater risk comes greater reward... anyone talking about the stock market should at least know that much. Also, mining can very much still be profitable, especially with upcoming ASIC devices (do you know what those are?) and despite currency valuation variations.[/QUOTE]
yes I know what ASIC devices are and once everyone has them the algorhythm will become more difficult again
and no the stock market isn't "random". putting your money in an index fund is a pretty safe bet for the long term, and is definitely safer than Bitcoin which suffers from security issues on just about every exchange in addition to it's volatility.
and the stock exchange isn't the only alternative by a long shot.
[QUOTE=Lazor;37348010]yes I know what ASIC devices are and once everyone has them the algorhythm will become more difficult again
and no the stock market isn't "random". putting your money in an index fund is a pretty safe bet for the long term, and is definitely safer than Bitcoin which suffers from security issues on just about every exchange in addition to it's volatility.
and the stock exchange isn't the only alternative by a long shot.[/QUOTE]
Yes, ASIC devices will boost the difficulty when widely adopted, but assuming they launch on time in October and BFL's numbers are right, they'll pay themselves off in months and continue working for years, though of course they won't be worth so much by then.
Safe, got it. If you're considering bitcoin and you're looking for a safe investment, you're in the wrong place, I don't think there's ever been any doubt about this.
And I only talked about stocks because that was your example is all.
[QUOTE=mblunk;37348210]Yes, ASIC devices will boost the difficulty when widely adopted, but assuming they launch on time in October and BFL's numbers are right, they'll pay themselves off in months and continue working for years, though of course they won't be worth so much by then.
Safe, got it. If you're considering bitcoin and you're looking for a safe investment, you're in the wrong place, I don't think there's ever been any doubt about this.
And I only talked about stocks because that was your example is all.[/QUOTE]
um that wasn't my example you illiterate baboon that was the example provided by the poster i was responding to
[IMG]http://24.media.tumblr.com/tumblr_lq6q8d7M4V1qmhbgeo1_400.gif[/IMG]
But seriously, if you think my investment choice is poor, instead of flaming me why don't you give me some tips & criticism?
[QUOTE=Lazor;37350122]um that wasn't my example you illiterate baboon that was the example provided by the poster i was responding to[/QUOTE]
*his example, sorry. If he wants to do bitcoin, why stop him? I agree, index funds are safer, but it's his money and he's obviously willing to risk it.
[QUOTE=mblunk;37351510]*his example, sorry. If he wants to do bitcoin, why stop him? I agree, index funds are safer, but it's his money and he's obviously willing to risk it.[/QUOTE]
if he didn't want feedback then maybe he wouldn't have posted about it
[IMG]http://i.imgur.com/ZvkbR.png[/IMG]
DOSH!
After the first day.
[QUOTE=Mindfuck 2;37357284][IMG]http://i.imgur.com/ZvkbR.png[/IMG]
DOSH!
After the first day.[/QUOTE]
[img]https://lh4.googleusercontent.com/-l9gCOG2dX6I/UDWHxmm1JYI/AAAAAAAAC3w/9aTlgKlJx6o/s713/Untitled.png[/img]
4.1 coins in a month with a 5850 at 900 MHz. Daily earnings is more like 0.14, it's low because my PC was off when I woke up today. I don't usually run my laptop, but it can hit about 90 MH/s with a 6770m.
[QUOTE=mblunk;37365783][img]https://lh4.googleusercontent.com/-l9gCOG2dX6I/UDWHxmm1JYI/AAAAAAAAC3w/9aTlgKlJx6o/s713/Untitled.png[/img]
4.1 coins in a month with a 5850 at 900 MHz. Daily earnings is more like 0.14, it's low because my PC was off when I woke up today. I don't usually run my laptop, but it can hit about 90 MH/s with a 6770m.[/QUOTE]
gib.
[editline]23rd August 2012[/editline]
Kidding, I usually get like 340 MH/s with my 6950 at a modest 800 MHz. And I dont do it the whole day, I do it like 2-3 hours when I come home from school, make me food, and watch some TV I want to game later in the day normally.
All i've got is a HD6670. Why the fuck did i go and have a GTS250.
So it looks like the TF2 warehouse and warehouse exchange are finally up and running properly. I managed to trade about 34000 warehouse credits at 0.0103 BTC per 1k credits on the exchange for a total of ~0.34 bitcoin or $3.50, although the market price has gone down to about 0.01 per 1 kWHC since then. Now I have to wait until Thursday to trade away more items due to the trust system.
Finally a way of getting rid of all those crates.
CGminer has just been updated to support the stratum protocol for compatible pools (includes btcguild): [url]https://bitcointalk.org/index.php?topic=28402.0[/url]
Description of stratum mining:
[quote]What is Stratum?
The Stratum mining protocol was designed to solve the problem of scaling pools and large mining farms as chips rapidly become faster, and the promise of single units mining at rates of 25+ GH/s are showing up on the horizion.
The protocol changes the mining landscape to where miners make a single connection to a pool and relay data over the connection, rather than opening/closing many HTTP connections. It also significantly changes the way work is generated and sent to miners.
As an example, an average work payload from a Stratum pool provides 4.2 billion times more work than a single 'getwork' request provides with the old mining protocol, but uses the same amount of data or less to transmit to the miner.
What are the advantages of Stratum?
With Stratum mining, the speed of your mining farm does not change the amount of data being sent to/from the pool. The pool provides work at regular intervals, and each payload is greater than any farm could exhaust before a new payload is received.
The protocol also scales difficulty dynamically, to reduce the chatter back and forth. Stratum mining should only use about 1 kbps of bandwidth no matter how fast your rig is. You can also relay an entire farm through a Stratum-proxy, meaning your entire mining farm uses 1 kbps of internet-based bandwidth.
These changes mean your miner is never stuck waiting for work from the pool. The static connection with the pool also means you should receive alerts of new blocks even faster than the longpoll methods used by old pools, reducing your rate of stale shares.[/quote]
BTCguild variable difficulty:
[quote]What is variable difficulty?
With the new Stratum mining protocol, BTC Guild also utilizes variable difficulty for each connection to the pool.
Variable difficulty means that if a miner is very fast, instead of submitting every share (normally at difficulty at least 1), it only submits shares greater than a different difficulty (such as 2, 4, 8, or 16).
By adjusting difficulty for fast miners, network overhead is drastically reduced. For outbound traffic from your miner, it is reduced linearly. Difficulty 2 uses 50% of the traffic Difficulty 1 uses. Difficulty 32 uses just over 3% of the traffic Difficulty 1 uses.
How does variable difficulty work?
BTC Guild aims for a target rate of 1 share submission per 4 to 6 seconds. If a miner is submitting at least 1 share per 3 seconds over a reasonable time frame, the pool will double the miner's difficulty.
When using the Stratum proxy, this is adjusted for your entire farm, not on a per machine basis, meaning your entire farm uses drastically less bandwidth than if they were connected individually.
If your difficulty was increased, and you eventually drop to less than 1 share per 10 seconds, the difficulty will be cut in half until you return to the target rate (or hit difficulty 1, which is the minimum.)
When mining at a higher difficulty, when your shares are accepted, they will show up on your 'My Account'/'Earnings History' stats as multiple shares. This is because PPS rates are set at Difficulty of 1+ shares. When submitting a Difficulty 8+ share, each submission will show up as 8 shares on your statistics.
Can this hurt my earnings?
BTC Guild's target rate of 1 share per 4 to 6 seconds keeps variance extremely low. While you may see higher variance in a 15-30 minute window, the overall variance in a 24 hour period is effectively 0%. Your average earnings will be unaffected regardless of difficulty.
The only precaution miners should take is if they are planning on utilizing a large farm on a single proxy. Since difficulty is adjusted per connection, it means the variance per worker increases heavily (but the whole farm is consistent).
If you plan to run many machines through one proxy, you should consider grouping your machines of similar speeds into separate proxy connections.
For example, if you have a BFL Mini Rig (25 GH/s) and a few other machines at 1 GH/s, you may see long periods without share submissions on your slower workers due to the high difficulty. This does not reduce your earnings. The only thing this affects is your "Last Share" time may sometimes grow to multiple minutes on the slower miners. By splitting the Mini Rig and 1 GH/s machines into separate proxies, you will see more consistent share submissions per worker.[/quote]
Should I make a new bitcoin thread with a more informative OP?
Buttcoins
Man, still dead.
In an attempt to revive this I'm going to monitor this thread, answer questions and share my insight. Or something.
Sorry, you need to Log In to post a reply to this thread.
