Cryptocoin Mining?

[pandemonium]

So, does anyone know why Bitstamp is so much cheaper than Coinbase?

 

[Chiropteran]

Primecoin has increased in value 5-fold over the last few days, worth about .01 btc each now, or $1. CPU solo mining is getting pretty slow- seem to be a 50% chance of finding a block each 24 hours and that is only if you are mining with 8+ threads on a high end CPU. It' going to be very interesting if/when someone writes an openCL miner for primecoin.

I got the last of my USB mining ASIC, 16ghz now for around 150W total. Equates to about .3 btc per 24 hours at current difficulty. Not going to buy any more of these, so I'm done with miing hardware upgrades for awhile... until I get my BFL hardware.

 

[Zargon]

yeah I have been forced out of gpu mining I have been selling off the gear and buying as many asic miner usb sticks as I can.. then in turn selling some of the asic sticks at a small profit to reduce the price of the ones I have kept.

I can run 20 sticks the pc the monitor the usb hubs for 120 watts monitor on 100 watts monitor off. 20 sticks are about 6600 hash.

at todays difficulty of 26 mill and 98 usd a stick I make .126 coins power is about 45 cents I would make 11 bucks a day.



if gpu used for the same .126 coins power is 2400 watts even more due to extra ac. 1 would be lucky to clear 1 dollar a day running pc/gpus . so I am selling off the pc/gpu farm really converting it to asic miner sticks.

how long did you wait for the usb miners?

 

[Chiropteran]

how long did you wait for the usb miners?

In my case, my first order arrived in 5 days, July 5th. Second, July 10th, and my last shipment just arrived yesterday, the 17th.

First order was placed on June 30th when the went on sale at btcguild. Second was also placed on the 30th, but after the initial 1000 sold out.

My third order was placed June 5th after setting up the original order, again this order was placed knowingly while btcguild was showing out of stock.

 

[philipma1957]

how long did you wait for the usb miners?

the orders take under a week.


I purchased this which may be my last order 10 sticks

https://bitcointalk.org/index.php?topic=257129.msg2739899#msg2739899

I am waiting for it.



this was under a week 6 sticks

https://bitcointalk.org/index.php?topic=251851.msg2674912#msg2674912

this was under a week 6 sticks

https://bitcointalk.org/index.php?topic=254073.0



buy 13 will be coming soon I may get a few more.

I like to do 9 to a usb strip . and a fan on the strip

this does 9 and has a port for the fan

http://www.amazon.com/gp/product/B00...?ie=UTF8&psc=1


here is a fan

http://www.amazon.com/Thermaltake-Mo...altake+usb+fan



I have 16 sticks 12 from the group buys plus 4 from ebay.

16 sticks do 5100 with 2 hubs and 2 fans and the pc.

I pull 94 watts when the monitor sleeps. I pull 114 watts with the monitor on.

 

[Binky]

Bought 9 USB miners for ~$1,000 including tax from btcguild. Sold 7 of them for ~$1,050. Now I have two free miners.

 

[philipma1957]

Bought 9 USB miners for ~$1,000 including tax from btcguild. Sold 7 of them for ~$1,050. Now I have two free miners.

yeah kind of my plan.

 

[pm]

Primecoin has increased in value 5-fold over the last few days, worth about .01 btc each now, or $1. CPU solo mining is getting pretty slow- seem to be a 50% chance of finding a block each 24 hours and that is only if you are mining with 8+ threads on a high end CPU. It' going to be very interesting if/when someone writes an openCL miner for primecoin.

I sold my ~86 primecoins for ~$60 a little while ago... always hard to know where prices will go... I agree that the difficulty has really gone up a lot. I found 6 blocks in 36 hours within the first few days, and now my 4770K OC'd to 4.1GHz finds ~1 block every 48 hours or so running all 8 threads. Chiro, PM me your BTC/LTC address and I'll send you a thank-you for the primecoin thing.

 

[WhoBeDaPlaya]

I have been selling off the gear on the bay and so far no major complaints.
As a long time ebay seller that is pretty remarkable.

Gotta love eBay. Dumped all my mining gear (5830s, 6950s, several BFL FPGA Singles) with ease and actually made a profit on the BFLs

 

[Chiropteran]

All in all I've mined about 1000 primecoin. Part of me says to quit while I am ahead and just trade them all for bitcoin, but I think I'm going to wait it out and see where they go. I feel like they have the potential to do as well as litecoin, at least.

I haven't sold any of my bitcoin hardware yet, though I did give a 7970 away to a friend who needed a better video card. I don't really want to hold onto my old crap, but I am trying to sell it locally before going to ebay, I despise all the paypal fees on top of shipping costs.

 

[philipma1957]

All in all I've mined about 1000 primecoin. Part of me says to quit while I am ahead and just trade them all for bitcoin, but I think I'm going to wait it out and see where they go. I feel like they have the potential to do as well as litecoin, at least.

I haven't sold any of my bitcoin hardware yet, though I did give a 7970 away to a friend who needed a better video card. I don't really want to hold onto my old crap, but I am trying to sell it locally before going to ebay, I despise all the paypal fees on top of shipping costs.

yeah I finally became a store member on ebay. fees were much better this way. but I do enough in sales. to make it worthwhile. most sales are computer based 4% rate and 3% from paypal is 7% total. I have tried many ways to keep shipping low.

I purchased 10000 forever stamps 2 years ago. got them at about 35 cents each. did it at about 500 stamps at a time. so if I can fit the item in a flat rate box shipping is low. I also use staples gift cards to ship ups. I get 20 % off of the gift cards.

these moves make ebay okay but frankly it has become very hard to sell on ebay.

 

[crashtech]

In this thread, a 7970 is old crap.

 

[philipma1957]

In this thread, a 7970 is old crap.

amazing but true.

 

[philipma1957]

So, does anyone know why Bitstamp is so much cheaper than Coinbase?

you need to wire the cash to their bank account.

coinbase withdraws the cash from your bank account.


if you are usa based you have an extra layer of law to protect you if you use coinbase.

if you are usa based and send a wire off to bitstamp you have less rights. this all involves purchasing coins.

 

[pandemonium]

Just a matter of undefined wire fees then (being USA based)? Because Bitstamp is surprisingly cheaper (on the surface prices). I've been reading about Bitstamp and those fees didn't appear to be the case in my research and it seemed too good to be true.

I'm currently using Coinbase though. Wasn't planning on changing/adding Bitstamp to the repetoire but thought it was odd. Thanks.

 

[philipma1957]

Just a matter of undefined wire fees then (being USA based)? Because Bitstamp is surprisingly cheaper (on the surface prices). I've been reading about Bitstamp and those fees didn't appear to be the case in my research and it seemed too good to be true.

I'm currently using Coinbase though. Wasn't planning on changing/adding Bitstamp to the repetoire but thought it was odd. Thanks.

Yeah I sell coins at coinbase. Stilling waiting to be verified. Then I can buy.

I sometimes buy on bitcointalk.org

I actually prefer this method.

 

[suklee]

In this thread, a 7970 is old crap.

So nowadays the best way to mine is through USB mining sticks? Anyone have a good link to get up to speed, such as a tutorial or USB mining 101? I haven't mined in over a year.

 

[KillerBee]

So nowadays the best way to mine is through USB mining sticks? Anyone have a good link to get up to speed, such as a tutorial or USB mining 101? I haven't mined in over a year.

Here's a good weekly show on Bitcoin
http://www.jupiterbroadcasting.com/show/planb/

With newer and more powerful Asics expected I can't see ever making a profit as a lil guy now
trying to produce your own.

 

[philipma1957]

So nowadays the best way to mine is through USB mining sticks? Anyone have a good link to get up to speed, such as a tutorial or USB mining 101? I haven't mined in over a year.

If you have coins in hand usb sticks are about .97 btc or 94 usd.

There is a group buy on bitcointalk.org

If you buy 5 sticks for 470 usd sell 3 on ebay for 390 (360 after fees)

your 2 sticks are only 110 or 55 a piece. At that price a stick is a good deal.
1 stick is 330mhs
2 sticks mine at 660mhs
3 sticks are at 1gh

you can mine on bitminter.com

 

[Smartazz]

I can't seem to find a Primecoin mining calculator. How fast can I expect to mine one using a 2.5GHz Core 2 Duo, a 3GHz Core 2 Quad and a 4.4GHz 2500k?

 

[Chiropteran]

I can't seem to find a Primecoin mining calculator. How fast can I expect to mine one using a 2.5GHz Core 2 Duo, a 3GHz Core 2 Quad and a 4.4GHz 2500k?

It seems to be really hard to accurately answer that question. The "primespersec" measure can give a rough relative difference in performance, but only if comparing systems running the same sievesize and miner software version.

Difficulty as it is now, blocks seem to be very rare to find. I am running the client on 2 fx-8120 systems, 1 i7-3770, and 1 phenom 1090t 6 core, and several dual core VPC systems on digital ocean. All in all, it seems that in the last 24 hours I have only found one block.

With just a single core 2 duo system mining, I think you would be lucky to find a block once a month. And that is only if you are using the primecoin high performance client (version 6 now).

On the other hand, there are several people working hard to get a GPU miner working. If GPU's are fast enough in relation to CPU, you might still be able to mine some good primecoin by being an early GPU adopter.

 

[Zargon]

So nowadays the best way to mine is through USB mining sticks? Anyone have a good link to get up to speed, such as a tutorial or USB mining 101? I haven't mined in over a year.

eh

payoff on one is like 9 months or something now

its better than GPU's though, 333 mhash per $100 at 2.5 watts destroys 600mhash for 225$(used 7950) at like 220w

 

[Chiropteran]

If anyone is still GPU mining, keep this page in mind-

http://dustcoin.com/mining

litecoin mining is more than twice as profitable as bitcoin mining currently, and novacoin is even more profitable- though I'm not very familiar with it. Primecoin is notably absent from the table, probably because calculating it's rate of production is impossible right now, the way the algorithm works doesn't offer a simple estimate for time until a block is found. Besides that, primecoin is CPU-only for now, so doesn't directly compete with coins mined with GPU.

I'm thinking about trying novacoin for a bit if I can find a good pool, might as well put my GPU to work doing something useful since I haven't sold them all yet.

It's fairly easy to trade one crypto-coin for another, since if the transaction doesn't include "real" money they exchanges don't need to verify anything, so whatever you mine can be easily converted to bitcoin.

 

[Zargon]

time to swap to litecoins I guess

 

[Smartazz]

Thanks Chiropteran. I didn't realize there were so many coins haha. Is Feathercoin really the most profitable right now?