Cryptocoin Mining?

[markyh]

This crash is annoying. I think it's healthy to see a correction, but the problem is mtgox is so lagged you can't actually do anything on it other than panic sell. I'd like to have sold a few BTC at $200 to re-buy further down, but there is literally 30 minutes of lag. How can you work with an exchange with that kind of lag when the price can change by $50 in that time frame?

I suspect there will be a nice bounce back after the mtgox problems are fixed, but if people keep panic and trying to sell mtgox might be broken for awhile.

Mtgox trading engine lag: 3827.45s

My fault. Lag is over an hour now, not 30 minutes. This is unusable. mtgox should really just suspend trading until the database catches up, I don't understand why they keep it running like this.

Is this a deliberate DOD attack on Mt.Gox again? Or Data overlaod? I wonder if we had a sudden drop of of network hashrate that crippled Mt.Gox? I stated my theory a little while back that the BTC price may be linked between $1 and $2 a T/Hash.

Lets say some time release virus cripples mining in 30%+ of the worlds mining somehow (attack on the pools, or just BTC50 would do it), this would cause huge drop off of transactions and cause a selling panic.

Something has gone wrong or someone tried to dump a huge amount of BTC @ $250 and caused a panic?

What is a pisser is the LTC/BTC rate has crashed from 0.027 to 0.020. Just noticed Coinotron website is down and posts about mininf stopping. The mine BTC and LTC don't they. Maybe this is it then, a few BTC pools crippled, lack of processing liquidity @ Mt.Gox to process transactions, sell delays, panic selling.

M

 

[arkcom]

Just got my pair of xfx 7950s. They have a stock voltage of 1.25v and I can't get it to change with Afterburner or trixx. These things are loud and hot, and thats just running them a couple minutes at a time before the driver crashes.

 

[ozzy702]

Just got my pair of xfx 7950s. They have a stock voltage of 1.25v and I can't get it to change with Afterburner or trixx. These things are loud and hot, and thats just running them a couple minutes at a time before the driver crashes.

Honestly, the xfx cards this generation SUCK. I've had great luck with Sapphire and HIS though.

 

[blastingcap]

Does difficulty also dip when prices do?

If so, is it similar amount as to when it increased?

In general difficulty will not go down much when prices go down because people keep adding more and more powerful GPUs, FPGAs, and ASICs to the network. In fact the difficulty will almost for sure rise another 40 TH/s or so even if the price goes to $1, because two more waves of ASICs are coming and ASICs can only mine. That is their sole purpose in life. If BFL and others actually deliver then expect difficulty to surge by hundreds of more TH/s. And if prices remain high, expect more GPUs to come online too which means more TH/s as well. For perspective, current difficulty is in the 60 TH/s range.

 

[Yellowsamuel]

Wow , that drop was as spectacular as bitcoin's rise over the last couple of weeks. Should have sold my 0.115 yesterday for a few quid :\

 

[taltamir]

In general difficulty will not go down much when prices go down because people keep adding more and more powerful GPUs, FPGAs, and ASICs to the network. In fact the difficulty will almost for sure rise another 40 TH/s or so even if the price goes to $1, because two more waves of ASICs are coming and ASICs can only mine. That is their sole purpose in life. If BFL and others actually deliver then expect difficulty to surge by hundreds of more TH/s. And if prices remain high, expect more GPUs to come online too which means more TH/s as well. For perspective, current difficulty is in the 60 TH/s range.

The difficulty is not going to surge when BFL delivers its next wave. instead some "unknown" ASIC miners will go offline and then come back online in private hands... their constant delays in delivering are obviously due to them mining with it before deliver.
The biggest proof is the fact they deliver "in waves". Manufacturing does not work like that... manufacturing and then using your equipment until you feel you must deliver a bit more on your previous promises does.

 

[blastingcap]

The difficulty is not going to surge when/if BFL delivers. instead some "unknown" ASIC miners will go offline... their constant delays in delivering are obviously due to them mining with it before deliver.
The biggest proof is the fact they deliver "in waves". Manufacturing does not work like that... manufacturing and then using your equipment until you feel you must deliver a bit more on your previous promises does.

Conspiracy theory much? I think it's more believable that BFL is simply incompetent rather than willfully withholding hundreds of ASICs.

GPUs were already trending the difficulty up with a wiggle around halving day so if we had only GPU and FPGAs we should be at around 30-40 TH/s today. The extra 20 TH/s is due to the first batch of Avalon ASICs. If BFL really had hundreds or thousands of ASICs operating today, then we would already be well over 60 TH/s and more like 100
TH/s or more.

Avalon delivered in waves too, and they are obviously legitimately shipping to customers. I don't think manufacturing has to follow any particular set... in fact in order to get lower shipping rates it's probably better to ship in batches. Cheaper to ship a container full of 100 things than ship 100 containers full of 1 thing per box. Do you think Newegg gets one Intel CPU at a time for instance, or an entire crate at a time?

 

[Kenmitch]

Wow , that drop was as spectacular as bitcoin's rise over the last couple of weeks. Should have sold my 0.115 yesterday for a few quid :\

It's a roller coaster ride today it looks like....Gonna have to see once the dust settles were it is at I guess.

 

[dualsmp]

Has anyone done a driver comparison vs. Mhash/s rate? I noticed that 13.1 drivers gave a better Mh rate but had artifacts. The 13.3 drivers are more stable with no artifacts, but the Mh rate is down about 20Mh/s at same clock speed. What drivers should I use for a 7850?

 

[Zargon]

Wow , that drop was as spectacular as bitcoin's rise over the last couple of weeks. Should have sold my 0.115 yesterday for a few quid :\

http://pastebin.com/h7iGK49T

 

[Binky]

$266 down to as low as $105, now back to $190. CRAZY market, but that's what you get when you want unregulated markets.

 

[hyrule4927]

Has anyone done a driver comparison vs. Mhash/s rate? I noticed that 13.1 drivers gave a better Mh rate but had artifacts. The 13.3 drivers are more stable with no artifacts, but the Mh rate is down about 20Mh/s at same clock speed. What drivers should I use for a 7850?

13.1 gave me artifacts while mining litecoins, but was fine for bitcoin. Switching to 13.3 fixed the artifacts, but I'm not sure if my hash rate changed because I switched drivers almost immediately after seeing the artifacts.

 

[dualsmp]

13.1 gave me artifacts while mining litecoins, but was fine for bitcoin. Switching to 13.3 fixed the artifacts, but I'm not sure if my hash rate changed because I switched drivers almost immediately after seeing the artifacts.

Well I'm on 12.9 now and what a difference. No artifacts and my Mhash rate is back to 13.1 levels with it even 1 or 2Mh faster. I'm going to stick with this driver. I've rebooted far too many times removing and cleaning old drivers out.

 

[pm]

Some news articles say it's a DDoS attack on the key exchanges coupled with a massive sell designed to panic people. Hackers sell at the peak, cause a crash with a DDoS attack, and then buy back at a lower price.
http://techcrunch.com/2013/04/10/bitcoin-crash/

 

[dualsmp]

Some news articles say it's a DDoS attack on the key exchanges coupled with a massive sell designed to panic people. Hackers sell at the peak, cause a crash with a DDoS attack, and then buy back at a lower price.
http://techcrunch.com/2013/04/10/bitcoin-crash/

I had to bail on EclipseMC because of errors, and went with BTC Guild. Kept getting "warning; job finished; miner is idle", so not sure if their network is under attack. It seems guiminer couldn't download the work units fast enough from EMC.

 

[Binky]

I had to bail on EclipseMC because of errors, and went with BTC Guild. Kept getting "warning; job finished; miner is idle", so not sure if their network is under attack. It seems guiminer couldn't download the work units fast enough from EMC.

Use cgminer...it grabs work from multiple pools without much interruption. IMO, it's far superior to guiminer.

 

[dualsmp]

Use cgminer...it grabs work from multiple pools without much interruption. IMO, it's far superior to guiminer.

Is there a good site to show how to use cgminer? I'm not really familiar with the command switches.

 

[Chiropteran]

Keep things in perspective- the crash seems disastrous and huge if you measure it in dollars, but realize we are only moving back 3 days. The bitcoin value was only around this high in the last 3 days. I'd be genuinely worried if value dropped below $100, and shocked if it fell below $50, but the $150-$180 range that it seems to be bouncing around is not really a real crash, just a correction from excessive growth the last 3 days.

And would it have happened if not for DDOS? Maybe, or maybe not.

 

[Binky]

Is there a good site to show how to use cgminer? I'm not really familiar with the command switches.

See post 3745 of this thread on page 150.

 

[Binky]

Mtred closed - this could get ugly - "In order to spread remaining funds as equally to the miners as we can, certain actions will be taken over the course of the next two months"
https://bitcointalk.org/index.php?topic=15929.msg1793833#msg1793833

GET YOUR COINS

And BTCguild is jacking up fees to reduce their size:
https://www.btcguild.com/index.php?page=home

 

[markyh]

I had to bail on EclipseMC because of errors, and went with BTC Guild. Kept getting "warning; job finished; miner is idle", so not sure if their network is under attack. It seems guiminer couldn't download the work units fast enough from EMC.

Well following the online guides now have for the last hour the MSI 7950 mining LTC via coinotron LTC pool using GUIMiner scrypt Alpha selecting the CGMiner backend and using stratum.

Off the Bat the default 7950(low) settings worked but only pulled in 295 k/hash.

I tried the 7950(High) but it would not have it, I think the concurrency 21712 and intensity 20 nerfed it because it would not start. Just kept saying "connection error".

Card is completly stock out of the box ATM, loaded afterburner but not launched it yet. Cat 12.8 drivers.

Had a play for about an hour stopping, changing and starting again. For now have settled @ 508 k/hash. MSI 7950 core is at 960. memory 1250, 99% CPU load, temp 67 deg, VRM 83-85 deg , VDDC 1.2v. FAN SPEED 55%.

To get 508 k/hash I had to set concurrency to 12000 (can this be any number? are 8192 and 21712 special?) Worksize 256, Vectors 1, GPU threads 1, Intensity 17, use stratum yes.

Very steady at these settings, no rejects. If i higher concurrency to 13000 it pretty much wont start again of falls over!

Anyway need bed now, its 3am in UK and I up for work @ 6.30am!

But i'm off and minhg and I didn't have to bug any of you guys with questions.

Any advice on GUIMiner LTC settings to try appreciated. Will get Afterburner going tomorrow night to try and overclock, up memory etc.

Cheers fellow miners.

M

 

[Chiropteran]

Mtgox speaks (bolds by me):

Hi everyone, just a quick update on the situation and what happened last night.

First of all we would like to reassure you but no we were not last night victim of a DDoS but instead victim of our own
success!

Indeed the rather astonishing amount of new account opened in the last few days added to the existing one plus the
number of trade made a huge impact on the overall system that started to lag. As expected in such situation people
started to panic, started to sell Bitcoin in mass (Panic Sale) resulting in an increase of trade that ultimately froze
the trade engine!

To give you an idea of how impressive things were here are some numbers that we would love to share with you guys:
- The number of trades executed triple in the last 24hrs.
- The number of new account opened went from 60k for March alone to 75k new account created for the first few days
of April! We now have roughly 20,000 new accounts created each day.

Due to these facts we have been busy working on improving things since last week and our team has been working
around the clock to improve Mt.Gox to catch up with the demand. We will continue to release several updates today
and in the coming few days to improve our system overall performance.

Also please note that we may have to close the exchange for two hours in the next 12 to 24hrs to add several new
servers to our system.

Thank you for your understanding and continuous support!

 

[pandemonium]

That's just craziness. I'm wondering where the influx of interest came from? What perfect timing that it really started around April 1st, too.

Edit: This is probably part of the reason. A generic reassurance for the general public to invest or use BTCs.

 

[hokies83]

 

[snowboarder33]

Dang, should have sold my LTCs yesterday when the prices were about $4.7, dropped all the way down to $2.3 today. bummer

Man, now it's down to $2.05. Do I sell now or will the prices recover a bit?