Cryptocoin Mining?

[NoStateofMind]

You don't even need to do that. Basically, your wallet balance is all in the block chain. You could setup your wallet once, get a send address, and then copy it to a CD-R or something, delete it from your computer. You could receive BTC from mining at 1.5/day for months, years even, to that address. Whenever you install the BTC client and use your original key you will see your full current balance, just like magic.

Then what stops someone from taking your address and plugging it into their own? Theres something I/we are missing here. Wallet.dat?

 

[YoungGun21]

Ok I'm going to answer a lot of questions here.

@ghost recon 88 GUIminer is your best bet. I use it on one machine. It is a front end interface that has several different miners available. I would suggest running a phoenix miner for the 5870 and a poclbm miner for the 6950.

@chihlidog and Aikouka There will be variances between blocks. One may take 4 hours. The next may take 4 minutes. It is even over time. (I remember one block Slush pool found in 1 second, I didn't even get any shares!)

@ImDonly1 Estimated means your estimated return for the current block. Confirmed is all of your returns that have been confirmed by the network, unconfirmed are the more recent ones that have not yet been confirmed. Also, always running the client when you have a pool isn't required, but the wallet HAS to be open when the pool sends you BTC. That's why I would just leave it open. Once the initial block chain is downloaded, it uses hardly any resources at all, so it shouldn't be a problem.

@Drivenbyvoltage I would not suggest setting the threshold to 5+. Most people won't even get that in a week. Especially not after the impending difficulty increase (sometime tomorrow). This is also bad because if your pool holds all of your BTC, if you need to sell quickly your are screwed. The best place for your BTC is your own personal wallet on your computer. We have our send threshold set to 2, but we get that fairly quickly because we are netting ~1.2 per day.

Also, how about that projected increase? 50% eh...

 

[muskie32]

Has anyone been able to buy anything with these bitcoins? If so I would put together a dedicated box for them (most likely a SR-2 filled with AMD GPU's)

 

[NoStateofMind]

Has anyone been able to buy anything with these bitcoins? If so I would put together a dedicated box for them (most likely a SR-2 filled with AMD GPU's)

No major e/retailers accept them at this point (that I'm aware of). You would have to transfer your BitCoins into another account in order to buy something.

https://mtgox.com/

If you plan on filling all those SR2 PCIe slots on that motherboard you are going to need dummy plugs and PCIe ribbon extensions.

 

[YoungGun21]

We bought our extension cables with BTC. Typically though we just convert to USD and put it in a bank account. We've made a couple hundred USD thus far, and we are sitting on a couple hundred more. Should have all hardware paid off within two weeks if the price stays above $15.

 

[muskie32]

No major e/retailers accept them at this point (that I'm aware of). You would have to transfer your BitCoins into another account in order to buy something.

https://mtgox.com/

If you plan on filling all those SR2 PCIe slots on that motherboard you are going to need dummy plugs and PCIe ribbon extensions.

Wellnot every slot technically. More like every 2

 

[Chiropteran]

Then what stops someone from taking your address and plugging it into their own? Theres something I/we are missing here. Wallet.dat?

The wallet.dat has your private key. Anyone with your private key can access your bitcoins, that is the thing you must keep secure.

but the wallet HAS to be open when the pool sends you BTC. That's why I would just leave it open. Once the initial block chain is downloaded, it uses hardly any resources at all, so it shouldn't be a problem.

I don't think that is true.

For example, see here:
http://webcache.googleusercontent.c...d=1&hl=en&ct=clnk&gl=us&source=www.google.com

When you send bitcoins to an address, it basically just adds them to the block chain saying "hey, I belong to the guy who has <THIS> private key" It doesn't matter if that guy is running his bitcoin client or not, because the block chain is saved forever. You can log in 5 years later, download the block chain, and your client will recognize each transaction that is unlocked with it's private key. No need for it to be online when the transaction occurs.

 

[hdfxst]

5830 back in stock at newegg but 7.56 shipping

edit: free shipping,thanks PC

 

[NoStateofMind]

5830 back in stock at newegg but 7.56 shipping

Looks like free shipping was added.

 

[muskie32]

You think getting 4 5830 's is a good idea to start out?

 

[note235]

bought!
thanks!

6970x1
6950x1
5830x2

that should work...lol

 

[YoungGun21]

You think getting 4 5830 's is a good idea to start out?

That's basically what we did. You'll want to buy those as soon as possible if you are getting them.

 

[muskie32]

Just pulled the gun. I bought 8

 

[NoStateofMind]

bought!
thanks!

6970x1
6950x1
5830x2

that should work...lol

Just pulled the gun. I bought 8

You guys make me jealous! Happy mining!

 

[note235]

yep!

 

[artvscommerce]

I kinda feel bad for stanford right about now..

 

[note235]

yes...but in the name of folding...buy!

 

[muskie32]

I am still going to fold for stanford

 

[note235]

props to you!
btw ok so i haven't bought the 6970 YET. right now i have a
6950 1gb
5830 1gb x2

thinking about getting another 6950 1gb for $200 or buying a 6970 2gb for $275?
If i add the 6970, how would I calculate my total power consumption?
thanks!

 

[Auric]

Even though phoenix-phatk has a higher hash rate it produces significant stale/invalid such that the result is little to no net gain. So, I've just returned to standard pobclm.

A net gain is actually only possible at most intensive settings (thus invalids not due to overworking) and even then is at best 1.5%.

243 Mhash/s -v -w 128 -f 1
255 Mhash/s -k phatk AGGRESSION=11 BFI_INT VECTORS FASTLOOP=false
----
4.9% gross gain
3.4% invalid (with pobclm negligible >1% so may even be more stale than invalids)

 

[Aikouka]

I'm tempted, but I think I'm more worried about the looming difficulty increase just destroying the possible profitability. Right now, I'm just using hardware that I already own, so it's really just the extra electricity. I'm also a bit worried that the DDoS attacks are slowing down generation... so we're not even operating at full potential anyway.

I gave away a lot of my old hardware ( motherboards and such ), but I could probably easily toss one of these into my main PC, another into my other PC, two into my "server" and one into my HTPC (at least that's downstairs where it's significantly cooler ). But that's about $550 which is around 27 Bitcoins. Assuming I can pull around 300 MHashes/s (each) with those cards, I would be adding 200&#37; more power (I do around 750 MHashes/s right now). So it'd probably take around a month to make back what I spent and that's at the current difficulty level.

 

[YoungGun21]

Even though phoenix-phatk has a higher hash rate it produces significant stale/invalid such that the result is little to no net gain. So, I've just returned to standard pobclm.

A net gain is actually only possible at most intensive settings (thus invalids not due to overworking) and even then is at best 1.5%.

243 Mhash/s -v -w 128 -f 1
255 Mhash/s -k phatk AGGRESSION=11 BFI_INT VECTORS FASTLOOP=false
----
4.9% gross gain
3.4% invalid (with pobclm negligible >1% so may even be more stale than invalids)

Some people have problems with phoenix giving a lot of stales, but we haven't had that trouble.

 

[muskie32]

What else do I need? Dummy plugs? Going to spread the 8 across 2 SR-2's.

 

[YoungGun21]

Yea you'll need plugs and possibly extension cables. I'm not familiar with the port setup on that. There are guides on the Bitcoin forums on how to setup headless rigs.

It is possible to run without the plugs if you just have one card in each computer, but obviously that isn't what you are doing.

 

[airdata]

You think getting 4 5830 's is a good idea to start out?

absolutely

cant beat the price/hash ratio.