He could double-spend by releasing his own longer blockchain after his 6 confirmations on the main blockchain. Yes, that's the main reason how the double spend would be done. He could simply out-pace the larger blockchain, then "double spend" and also reject all transactions done which have some confirmations. In fact, this was dumb of me not to mention, but in fact the "silent" aspect is actually what most people fear, because you don't know until suddenly a new longest chain is introduced.
Hopefully the miner will stay on btcguild and hopefully more asics will ship soon to level the playing field. There are some auctions on bitcointalk. Share the link. Add a Comment. Why must my typo's be so passive aggressive? It'll save you lots of embarrassment : I will happily offer to proofread your posts for you and point out each time you mix "where" with "were," spell "Bitocin" incorrectly, and otherwise accidentally!
Yes the network could fight back by adding hashing power. Will someone sell me a couple shares of this company? View 8 More Comments.
Up and running at 5. How much will it cost the end user? Good luck. I usually can't stand buttcoin commentary, but this piece is spot on. Any good for mining? Time to order. Still worth it.
More details inside. I don't know if it actually mines, but it definitely has a sinister component. My guess is that he's trying to steal credit card numbers or secretly add unsuspecting users' machines to his botnet or both. It secretly installs an IRC client, these are often used to control botnet nodes. I haven't had much time to dig through the code, but it's definitely not something you want to run.
There are many other, well known, safe options. There has to be a better option out there than your loud GPU in your gaming computer. There is! Shortly after GPUs became popular for bitcoin mining, enterprising folks started looking at other things they can re-purpose to mine bitcoins more efficiently.
These are nothing new to the hobbyist community, they've been around for a while for crackers and other security-conscious folks looking at ways to defeat cryptographic locks. I know something that uses cryptographic calculations to secure its network! Yep, so some miners developed their own boards and slapped some FPGA chips on them most commonly the Spartan-6 , and wrote specific firmware and ""bitstreams"" to more efficiently calculate bitcoin hashes.
The first generations were sort of slow, but still they had better efficiency than a GPU. These grew very popular, but people could see that FPGAs still weren't the most efficient way to hash their shares. BFL then announced that they would be designing their own chips that would be orders of magnitude faster than anything ever seen.
ASICs are--as the name implies--specifically designed for one thing, and one thing only. This is all it can do, and can't really be repurposed like an FPGA to other applications. So summer , BFL says they will ship before Christmas. Various things happen and we now still don't have any confirmed ship dates from BFL. A few other companies have sprouted up, ASICminer which I believe is developing their own chips to mine themselves, but in a responsible way as to not threaten the network with a sudden influx of hashing.
Avalon is the only company we know has ASIC mining hardware in the wild. It is not certain exactly how many are out there, but they have been confirmed by independent sources. The Avalon units are expensive 75 BTC and have been in limited production runs or batches of a few hundred units that were pre-sold out very quickly. I may have some facts wrong, but this is the gist of the situation and hopefully gives you an insight on the state of the hardware war against bitcoin.
Thanks for reading! Study it closely. You will see this or it's mutation again in the future. I am in no way a dedicated Miner. Today I was using that computer and stopped the mining, I left it idle for a few came back and the display driver had crashed.
It started doing to every minutes at random. I opened Task manager and watched it. I tried to pull info from the miner to see where it was pointing however it was cleverly hidden. The miner in question was Reaper for sure I could tell by the file structure.
So just so everyone knows if there is an exe called ieutil. Also has anyone else ran into this I thought I was doing a good job on watching what i was installing. Haven't had time to make a rack for the cards yet Check it out:. Not bad, right? You clear a decent amount of cash. But here's the problem. It's autofilled with 50 percent. The last increase implied a monthly percentage of percent, not So let's put in percent and see where that puts us BitcoinMining,1kak4b,The difficulty just went from It's significantly ahead of target and implies a monthly inflation rate of percent.
Proud to be doing my little bit to protect the network. How much longer will you hold out? We all know that difficulty is rising to an insane degree.
We all know that pretty much anything you buy at this point has the potential or likely probability to lose money. I think it kind of makes me sad that this subreddit has just turned into trying to make USD by bitcoin mining, instead of focusing on strengthening the network and mining news in general.
I think yes, we should make people aware of the risks financially and to their power bill, but we shouldn't just tell prospective new miners to just not mine.
MUCH quieter than the old one. BitcoinMining,1dej6y,"Bitcoin ""difficulty"" already gone from 8. And with a higher Difficulty Factor it becomes less profitable to mine bitcoins. Assuming what I said here is correct, again, not an expert. One day I'll look into the source code and learn more about it. My prediction is that GPU mining will die out as the difficulty level increases dramatically. What are your predictions? Seen on twitter that a DDOS is underway. I am running minepeon.
Within one hour of making this post, I will send friedcat a private message expressing interest in purchasing a group of Block Erupters. I will keep an encrypted wallet on my computer, with an updated backup of the encrypted wallet. Within 72 hours of receipt of confirmed orders for Block Erupters, I will post on this subreddit that the minimum number of orders has been reached, and, if possible, give everyone 24 hours to get final orders in.
I reserve the right to place the order immediately, without the above notice, if, in my judgment, delay would risk an inability to secure an order with ASICMiner. Upon request, I will provide any of the moderators of this subreddit with my personal information, including full name, address, telephone number, and a copy of state issued ID. If ASICMiner will not accept my order, or if by May 31, , this groupbuy has not received orders, then within 72 hours I will return all bitcoins sent, less transaction fees.
To place an order for a Block Erupter s :. Send 2. Post the transaction ID and bitcoin address to use to return coins to in the event that the group buy fails as a new reply in this thread.
Private message me with your shipping address. All disputes under this agreement shall be governed by the laws of the State of California. Parties agree to submit to the personal and exclusive jurisdiction of the courts located within the county of Santa Clara, California.
Damages for breach shall be limited to return of bitcoins. In the event that not all orders by reddit users can be filled, Block Erupters will be sent out on a first ordered, first shipped basis.
So, other stuff not part of contract. Let me try to answer some of your likely concerns:. Of course, you're welcome not to. That being said, here's a few reasons you might think I'm trustworthy:. Scamming you would really screw up my professional career. Like I just said, I'm a law student ;-. That being said, this is pretty straight forward. In the first section, I'm saying I'll keep the coins I receive safe, give the reddit community a last chance to get in on the order, place the order promptly, and ship the order.
If I can't do that, I'll refund your bitcoins none of the BFL bullshit where they take your bitcoins, wait for the market to explode, and refund you in cash. If you want to order, send me money, post here with proof that you did so, and PM me where to ship your order to. If something does go wrong, don't expect anything more than getting your bitcoins back.
I will ship out orders first made, first shipped. For what it's worth though, I'm in the same boat as you! I'll be using localbitcoins to buy some tomorrow. Working hard while hardly working. So much better than GPUs.
Now to earn, spend and scale up. Thanks to everyone here for help and insight on this Bitcoin adventure. The true answer to that question if you are being pedantic is: Yes, you can!
The time required to get setup initially and the electrical efficiency of the hardware in question usually deduces the same answer from economically minded people, however. The only two types of Bitcoin miners you want to be looking at right now are:. Not too shabby, but definitely not Just wanted to post an update. Feel free to use the script! So I've posted here a few times in the past.
Now I'll detail what I'm doing a little further and try to help others. Right now I'm working with 5x 's, 3x 's, a , and 3x GTX 's my gaming rig. The plan is to reinvest all bitcoins mined into more mining hardware. Today I just purchased two more 's that are due to arrive tomorrow. Note that these two cards were purchased with bitcoins that were mined. The plan is every time I have enough to buy another card, I withdraw the bitcoins and convert it into cash.
To those I haven't gotten back with about hardware that I'm ordering, I do apologize. These cases will be slammed up against each other. Going to back to hardware, I still haven't decided on a locked feature set - meaning I don't know what I'm going to buy mobo, ram, cpu, psu, etc. I say this because hardware pricing is always changing, but I want to lock the specs down eventually because it'll be easy to administer. Having 12 like systems will be easier to deploy than 12 totally different systems all I have to do is image them.
Anyways I apologize about that. I'll be using these up and then will start building out a system. My hope is that the difficulty will not go up that high as ASIC's are still very hard to come by and really don't make a good investment case right now or then. Let me know if this helps!
I just don't see that happening soon, and [this post makes my case quite nicely. Two more 's, woohoo! I'll post some pictures soon. My everything :-P If you want to check out what I game with, [check here! This will handle one more card Updates on cards - Because today we saw another pop - I'm planning on buy two not one cards by next tuesday.
I have about 5 more deprecated systems to use up - thus saving me money - before I plan on locking in a system. Keep ya posted!
Thanks for stopping by! It should settle down though to the high 6, range How is this even real?! I mean I'll take the PPS, not complaining or anything!
You win a Butterfly Jalapeno to be delivered on Martin Luther King Day , when you can take out the fans and use it to make toast.
I didn't do all of the comparisons necessary though - so there may be one better. The question is, at what point does bitcoin-mining on a no longer make financial sense? The following assumes a miner is receiving a roughly equitable share of its contribution to the network's hash power ie through a pool, if you're GPU Mining or considering getting in to mining these things will be true.
It probably makes more sense here to use 1-year, but 2-years is standard. Feel free to play with this number. That's it, actually. Everything else is just the protocol specification.
So here we go This is just an easy maths model you can use to apply to any question you may have with regard to the 'potential profitability' of your current graphics card or even your potential ASIC purchase. If you know how much hashing power the card has, and what its power draw is, it is trivial to determine at what point your miner will no longer be profitable.
Happy mining. Except that I used my credit card through paypal directly to pay BFL. Paypal did not hold any funds, just brokered the transaction. I was denied within 24 hours and told that units were already shipping in a short canned response. They are still in July of and my order was in February This immediately got closed because of the 45 day window that Paypal has. I did have to explain my story. They do have a 45 day window for ""Pre-Orders"" but this was ""Pre-Production"".
Which Paypal should never have backed. This is where my story forks from the sticky post. Paypal immediately told me that I would have to contact my card and issue a charge-back from my card to Paypal. I took a moment and repeated the scenario that the Paypal agent just described. I have no problems with the Paypal service and do not want to be in bad standing with Paypal"".
Once my Visa card issued a charge-back, then Paypal can bypass their 45 day window of charge-back to the seller and lawyers would get involved and I was not at fault, but the victim, if I truthfully had not received my product. So this ended my communication with Paypal.
The agent also sounded hesitant about charging back Paypal. I explained that it was only to start the process and that Paypal would work directly with them.
I gave my Visa agent the Paypal case number and they contacted Paypal while I was on hold. I have never once filed a charge-back and been in great standing with them.
They also stated that they are pro-rating my card the amount of the charge. They would mail me paperwork within a week to have a paper copy. To keep my invoice and any information I had on my order. This was the last page before my order was placed. I log in to Paypal and I have the option to remove my charge-back if I have received the product or filed it in error. I log in to BFL and it says my order is complete.
I now have a new tab on my account for ""Invoices"" and for ""Refunds"". At this point I feel better. BFL never had the intention of filling their orders efficiently for the public. I hope more people keep following suit. This is my story and I am still in limbo right now. Please ask me any questions or suggestions about your situation and I will try to relate it to mine.
Happy mining everyone! BitcoinMining,1cyr61,Did Slush just go down? Getting a Forbidden. BitcoinMining,1c05ie,GPU mining opinions. BitcoinMining,1ci7ur,Is mining worth starting this late in the game? We eventually decided against the idea; it didn't seem like there would be a worthwhile return from such a small amount of equipment. Perhaps my research was misguided, but anyhow. It seems like a mistake in hindsight, with the way Bitcoin worth has been rising.
Any advice on optimization of rigs for these ranges? Thanks for your time! It's fairly tied into my scripts, but if there's interest I'd be happy to do the work to package it up! The system is dynamic; the same scripts work with any of GPUs. It's money I can afford to lose in worst case scenario, but it is two months of salary so I'm kinda nervous here. Please talk me out of this paranoia.. The future is looking better for my single rig, even with the relatively expensive power costs here.
I would add another card if I had the funds. How does the decrease affect your mining operation? We are in full production, thus your orders are final. BitcoinMining,1gzxk6,This is not a venue for group buys.
The verification process on reddit is not credible enough to warrant allowing group buys. Thank you for your help keeping the scum off of this subreddit. BitcoinMining,1gsupm,It seems Ambien decided I needed to buy some overpriced mining equipment Feel free to laugh!
Hopefully people are still paying as much for them and I'll just resell. I know I could fight the charges and all that but there's no reason to punish the seller for my medication induced mistake and if I can sell them and come out even ish no harm no foul.
So, my question is should I request a refund? I've heard that they have no problem processing refunds, so should I get my money back and spend it on a GPU rig I can have up and running by this weekend or should I ride it out and hope the influx of BFL boxes doesn't drive down the cost effectiveness of mining?
I am seeing that they started shipping at the end of last week, but I have read where people submitted orders as early as 9 months ago and they'd be the first ones to receive. Honestly, it's all of the profit I've gotten from buying and selling my bitcoins, so the cash doesn't really matter that much to me, but if there is a better way to get a good ROI sooner, I'd rather explore that path. Can possibly damage your hardware. Be careful, more info in text. One is my main desktop and one is specifically built for mining.
I've been doing it for a month or so now and have about dollars in my Dwolla. So I figure I'm doing alright! Then the electricity bill came. So I went out and bought a Watt meter and tested all my rigs and network equipment and it comes out to Watts total. Which would be stupid to do. If difficulty forces me down to anything less than. Any quick tips to keep the electricity costs down?
And here is the file itself, made using libreOffice calc. I also am hoping for some feedback on the GPU choices I have shown. Are there any other better options out there for mining using a GPU? It seems that you can't really mine long enough to break even before the ASIC's come out and make it unprofitable. Though, you can mine now, and once it becomes unprofitable, sell the GPU for for probably more than half the original price which would cut down the time to break even quite a bit.
Also, I uploaded the chart so anyone who wishes to use better prices they found elsewhere or different power costs can do so. If mega is a bad option for anyone tell me what file host you need!
Hopefully this will be of use to someone. BitcoinMining,1asfel,"Why would they sell ASIC miners to the public, when companies can make far more running them on their own? Why on Earth would they sell these to the public instead of just running 's of them in their homes?
Edit: The calculator says three months not one month. It looks more like a hobby than a source of reliable income. I am hoping to buy a faster system with tax refund money in , what should I buy for the best results? Better pricing than Jallys on eBay but still a bit steep. BitcoinMining,i1xvv,How does mining actually work?
Every time I try explaining some of the concepts of what mining does they come back with the same exact question. It's a bit frustrating. I have no idea what they want me to tell them. Either they are genuinely curious or I'm being trolled massively. Has anyone found a good way of explaining what mining is to the complete non-computer user? BitcoinMining,1jfbhl,"I've seen people say ""I have free electricity What am I missing?
I'd be happy even if this helped at least one other person in not getting ripped off for what is probably a very large amount of money. There's a lot of text, so I just want to highlight the main points. Basically, you are protected by eBay and PayPal if you paid with it , but the window is not open for very long.
So unless your order date was very early, you will most likely not be receiving your miner within 30 days or even 45 days of making the purchase. After 45 days, there is nothing eBay or PayPal can do to help you, even if the seller decides to not send the miner to you. Do this only if you can afford to lose the money you spent. This is just to make everyone aware of eBay's policies and that there may still be time to get your money back if you're still within the 45 day window. This helped me get my money back and hopefully it will be useful to some of you.
BitcoinMining,1hxz2m,Asic miners causing current price drop Gpu miners. The hypothesis - ""new""miners are dumping their fresh coins at market price driving the price down. Nothing too powerful and doesnt require too much electricity. A guy may seem interested, ask for more information like pics of your order page. And then he'll say that the order isn't paid, according an order checking app that BFL released, which is conveniently attached in the email.
Probably jacks the coins right out of your wallet. If you're into bitcoin mining, you probably know not to run random ass email executables, but let this serve as an extra reminder. BitcoinMining,1jb,Dumb question about the future of mining. Is the difficulty going back down at some point? Or is just going to stay up there, new companies will come up with even faster miners and it'll continue to be that arms race of always trying to upgrade and keep ahead of the game?
Check it out. BitcoinMining,1ep1p2,Rig caught fire! I've RMA'd the board, but I was only using 1 video card two if you count the onboard one. One other thing, my power supply would run even if the power switch was switched to off, so maybe my power supply is doing something funky.
I'm wondering wtf went wrong here, this build is only 4 months old and has been running just about nonstop since then with no issues. BitcoinMining,1dwpv3,Butterfly Labs. Scam or what? It all seems to indicate BFL is some kind of scam. Is this true? I was looking to buy one of the cheaper miners they sell but now I am a little wary. Bottom line.
No scam? If it is a scam or what ever where should I shop for miners? BitcoinMining,1jugmz,"What does ""difficulty"" mean on a stratum mining pool? Examples are 8, 16, and I know this isn't the same as the Bitcoin network difficultly, because that number is somewhere around 37 million.
What is this setting, and how does it affect my shares and profit? BitcoinMining,1j6fc1,Jalapeno firmware overclock? I thought I read something like that but now I can't find it anywhere Anyone considering it? I only ordered a month ago so I'll have a while to think about it.
BitcoinMining,1fqdpc,"Switch to Litecoin after the difficulty increase, or stay with Bitcoin? If the price of Bitcoin increases again I would hate to miss it.
What do you guys think? I used to play a video game, Eve online, which was all about grinding or mining, or scamming in-game to try to make enough in-game cash to pay for your subscription.
The sleaziest thing to do was setting up mining bots, technically against the rules. This is MUCH less work for the same results. Let me know what you guys think. It paid for all the equipment. BitcoinMining,1bf9o1,is there still a future for small time miners? How long can I expect to keep mining if I join in now? Which GPU would be best to buy? Everyone is really active and engaged in helping others.
Thank you for responding y'all! BitcoinMining,jzmez,"What is your mining setup, and how much BTC do you mine in a typical recent week? Be interesting to see how I'm doing in comparison! I've been dipping my toe into Bitcoin mining for the past few months and, as a software developer, couldn't help but start writing some code to make things easier for myself. It was originally written specifically to allow mining separate coins on each individual device on a machine and has grown from there.
However I've spent enough time fine tuning things and creating source code samples and I'm ready for some wider exposure. Be gentle! BitcoinMining,1jmtya,"Difficulty rises to 37,, from 31,, Would this be a feasible plan?
BitcoinMining,1evpog,Has anyone received a refund from Butterfly labs within the last 10 days? I am wondering if this is the end of speculations and the beginning of the real scam. I have requested that butterfly labs at least acknowledge they have at least read the email and that goes unanswered as well. I called the number but when I press to speak to an operator it just disconnects me. I really hope someone got a refund recently.
BitcoinMining,1c89bh,"How to mine at less-than-full capacity, to stave off heat-related card death? Is these some way to 'underclock' it a bit so that I still get, I dunno, , but maybe run my card at cooler than 90 degrees?
I don't want to destroy my hardware for this, but I don't want to waste gpu cycles by not mining at all either. These chips, expected next year, will probably be designed to a standard higher than the miners can reach and could be used to build powerful mining rigs without ASICs.
So this divides the overall size potential of each mining pool to their respective followers. But the smaller the pool, the less money in it, the less money to buy top of the line gear, less money earned. I don't want to run this myself, look at the bottom for info on that. Have three different wallet addresses for the three different companies; one for BFL, one for KnC, and one for Avalon.
In the case of no-ships this would simplify refunds. Now that's where the division ends. Someone who paid for a KnC share would receive the same as someone who paid for a BFL share upon payout from received machines regardless of how much each hashes.
This mitigates risk as in the case of no ship your share would still be worth something if you choose not to take your refund which could then be used by the moderator of the pool to buy more hardware. Also, a lot of people are selling their chips that BFL gave them for less than face value.
I propose allowing chips to be given in return for shares or a fragment, we could figure out the worth of a share and chip later if we could get someone to put them together. I'm very open to suggestions, lets try and make this happen. It pulls info on all your devices, and displays them, and supports multiple servers to query to.
It should work with bfgminer since it's api shouldn't be changed from cgminer so you can give that a try as well. If I am going to take a hit, am I better off just selling the hardware now for whatever I can get and just be done with it?
The big issue now is I am moving from Minneapolis to Dallas, making heat a way bigger issue than it used to be. What distinguishes one from the other? Your project is ambitious and noteworthy. But I need to know that your business is legitimate. I would like to meet your team in China, or have one of my Chinese family members do so. They generally ignored my request to visit in person:. It seems it would be a good option to do so. Please let us know what kind of additional information would satisfy you.
We fully intend to produce and ship the products to our clients. The accusations on bitcointalk are untrue and unjustified. To start, you should start using your names, instead of just the ASXproject moniker. I would like to meet with somebody within the next 3 days.
So please give me your project leader's name, phone, and address. I can purchase the MOC of modules myself, if I am convinced this is legitimate. Please respond asap. And they responded with absolute copypasta:. We are aware of the concerns in the bitcoin community. The concern as to the images used is justified as the ASIC chip is indeed an example of a future product-part. The case, and heatsink parts will be used in our finished product. We will re-test and film the working ASIC module this week and post it on our website.
Our product is basically a remake of the Avalon, however there are more chips on the modules which requires a slightly different control unit, PDU etc. The testing does, however not demonstrate a finished product whatsoever. Thus, we feel confident in our combined ability to reach the set goals.
Though, it seems that the purchasing of products at our website is diminishing. Therefore, it seems meaningful to address the community regarding its concerns. We will dedicate our time to update and provide additional information for the coming period. Any suggestions regarding efforts from our side towards helping this project reach its potential are very welcome.
I've been reading this subreddit for a few weeks now currently mining on old pc with live miner. But it struck me that this subreddit does have very little information in it's sidebar. So my question: what's up with ASIC, are they worth the purchase? Which ones do you think will actually deliver their systems? Anybody that has actual contact with some of these guys?
Having some inside sources on these kind of things never hurts. I didn't mind waiting a huge ass long time on my raspberry pi, but that was another thing. I really like crypto, mining, bitcoins and all the things that come lurking around with it, but I feel that I might be a tad bit too late.
So what ASIC's are on the market? Which ones will most likely deliver? And why is this not all in the sidebar? Could you guys point me in the right direction for flags and settings to get the most out of it? If you're new to bitcoin. BitcoinMining,1ccsw4,"I was told to come here. I made my first BTC 0. Now this could be a long term thing or just a short time before it recovers back to a higher level value. Surely it will take a hell of a lot longer to pay off those ASICs and mining farms?
Will people loose out big due to hardware investment? BitcoinMining,19uv28,The people have spoken and the ban has been lifted. Talk of Butterflylabs is permitted. I still think it's a bad idea to buy one at this point After some reflection on the situation I realized how wrong that demand was.
Although I still think it a horrible idea to make a purchase from butterflylabs, I am not going to ban the discussion of it. Good luck out there! The plot thickens. Scam or not? Judge for yourself. Custom case mod for space and air. Info in comments. Problem solved! Pay particular attention to the November pricing part. We would like to announce the beginning of our reward based reseller program. Anyone can become a registered reseller of our devices. The rewards are simple, for every 10 sales of one individual device you will receive one of the same items for free.
For example, provide us with 10 Jupiter sales and we will ship you a complete Jupiter free of charge. To register as a reseller simply contact info kncminer. We will then provide you with a reseller ID, and then all you have to do is get people to click on a special link in the format of. We will soon be providing an online report where you can view your sales, but for now please contact info kncminer.
We will also be providing sample banners and images shortly. All registered resellers will receive a copy of the banners when available. With difficulty increasing the way it is, we would like to give an indication of a November price drop. Currently all orders placed and paid for will ship in October, and yes, we still have space within October for more orders. However, as soon as this is no longer the case we will adjust our prices for November accordingly.
To give you an indication on the forthcoming price drop a Jupiter device will cost less than USD. More information will follow on this when October shipping becomes full. We have been continuously testing our design to get the best out of the chips. Hosting has become quite popular and we are filling up fast for September and October devices.
Space is becoming limited, so for those of you wanting to host with us we recommend you order hosting as soon as possible to avoid disappointment. There has been a small update made to our webshop. We would like to invite all customers who wish to preconfigure their devices to return to the site, login to our shop and enter your details. This means that all you have to do is plug them in and walk away. For people wishing to take advantage of our current upgrade process you have one more week left, as of next Friday this option will no longer be available to any customers.
Did not allow me. What should I do? Oh wait. That ain't good. Still no update from mfg. No tracking. Site actually still shows my order as processing. If they prove skeptics wrong, I'll update it. The ""resources"" on Bitcoin Talk still sees this as a straight scam. It was money I can afford to lose, but hell, who likes to lose money on a calculated gamble? To be honest I was about ready to write it off and still willing to write off with maybe a token complaint to a Shenzhen anti-corruption agency of some sort.
I don't have a tracking yet but man it'd be a helluva coup if a newbie like me can come online in the next week or two with 50GH out of left field. Your recent order on ASX Project has been completed. BitcoinMining,1iblxi,Good pools for low hashrates. BitcoinMining,1i50sd,I have a few Bitcoin Mining questions So far I'm seeing a hash rate of between 1. I'm aware this is very low, but how low? Am I looking at roughly 1 Bitcoin per day at this rate? If I wanted to turn a profit on Bitcoin Mining over my investment within, say, one to three months, what sort of upfront investment in hardware would I be looking at?
And what hardware would you guys recommend? So why would you buy one? I am a bitcoin true believer. What about mining out of a belief in the ability of bitcoin to make the world a better place? There is no ROI for folding home but there are people with multiple rigs folding. Why not see mining as a bit of fun quite separate from any financial return? BitcoinMining,1f9vm3,GPU mining for cheap gaming rig?
I plan to use this as my gaming rig once our southern hemisphere winter is done. I really can't see any downside to this and I don't get all of the negativity on here about GPU mining. Are some of you trying to discourage new miners to feather your own nests? BitcoinMining,1dvkkn,Getting back into mining again. Are graphics cards still the way to go? Now, since Bitcoins are worth a lot more, I've decided to get back into the mining game again. Is it easy for casual miners like me to utilize them?
The only way this could work is if I generated a paper wallet, kept the private key, and gave a miner the public address. I don't have access to the kind of mining equipment that could mine a block in a reasonable timeframe but I thought maybe someone here could help? I'll be happy to put 26 BTC in escrow until the block is mined which could take a while I know!
I'll make sure you make at least 0. BitcoinMining,1cszrd,mining at 1. I'm currently mining in slush's pool and over night I can make 0. Never heard of the company so just asking in earnest. BitcoinMining,1c9oqs,New to bitcoin mining and need some advice.
But i am only 15 years old and dont have a bank account. Any advice? Here's where it gets interesting. This is where these migration companies come in Any input is welcomed! Feel free to fill in the holes! BitcoinMining,1bcexi,What's stopping companies with super computers from mining all the bitcoins?
They could've use them to mine all the coins. BitcoinMining,14mnve,"I have 0. I'm changing pools. Can I somehow donate this, or is it lost to the couch cushions forever. What do you think? BitcoinMining,1k,"At the current rate the next difficulty change will be mid-afternoon tomorrow, just ten days after the last one. I've seen formulas to calculate from wattage, are they really accurate with an overclocked card running full fans blowing?
BitcoinMining,1espdx,Trying to figure out a way to make Bitcoin profitable for me. Any other newbies to Bitcoin trying to make the math work for them and being successful? Being the ones with the most bitcoin, we cannot dump it onto mt. Buy a new monitor from bitcoinstore. Keep our healthy economy. Private consumption needs to increase, tell all your friends, at least give them some bitcoin. Maybe start peer to peer bets :b.
Gross investment, keep buying ASIC machines. TLDR: Spend your bitcoin! Based on my interpretation of it, if you simply buy BTC or receive BTC from goods or services provided you can exchange that for traditional currency as normal. Registering as an MSB requires a LOT of money and hassle and requires you to keep records for a long time, making it very unattractive for a casual or even serious miner.
My questions: Are any of you going to stop mining because of this? How many of you actually convert your mined BTC to traditional currency? BitcoinMining,1a9uqj,What's a solid 'Rookie' setup to get started on? I currently work as a developer ruby, js, etc but have little-to-no experience with hardware, and don't know what to look for. Hardware requirements for successful mining seem to be getting more demanding by the day, so it's hard to find relevant info on the web.
Would I even be able to break-even? BitcoinMining,1a7veu,How exactly do I go about beginning to mine bitcoins? I've had about 20 btc I bought when they were around 2 bucks each and I'm stunned to see the progress and I want to get more involved. I've currently got a very high speed desktop computer I built about 8 months ago. Should I use this as my mining rig? I honestly don't know the difference or if there is a difference between these. What pool should I join?
Is the cost of power worth it, etc. All help is appreciated! Power usage and heat output is not a concern, neither is the possible decrease of life of these components. Definitely doesn't sound like a profitable venture to run long term. I may just do it to try it out and learn, maybe earning myself a few cents.
Thanks again for your insight, upvotes all around! BitcoinMining,12u7iw,"Should I get into bitcoin mining now? From what I have read, once just the Bitforce Jalapenos are released, which mine at 1. Is this a terrible time to start? Should I still start? Edit: 3. BitcoinMining,zyvyf,What is the current profitability of single dedicated PC mining? What pool is best for profitability? BitcoinMining,i68sb,Noob question: How does pooled mining work? Is there some standard protocol between the pool and client?
I saw clients that support many different pools and pools offer multiple clients. I read that the mining client sends shares to the pool to prove that some work has been done and earn a piece of the next block. How does the client know when it's got a share? BitcoinMining,1jw1sr,Can i get my money back from butterfly? Ones on their stie don't work.
Do you agree or not? Metrics of an actual business even if that business is a cottage business. Interested in where the analyses of the group are coming out on this.
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