Cryptocoin Mining?

[pandemonium]

That woman is actually Satoshi Nakamoto.

Touché!

 

[MrTeal]

She was tweeting from the Senate hearings the other day.
https://twitter.com/jinyoungenglund
Not Satoshi, but she is the PR director for the Bitcoin Foundation.

 

[njdevilsfan87]

We've come a long way but the journey is just beginning. Once a critical mass is reached in terms of market-wide adoption and acceptance by major stores/banks, then we will reach the crazy phase (as if it isn't going up like crazy enough already!).

I'm confused as to where this all heading. Right now, I cannot see it being adopted when it keeps changing in value. One week a computer might cost 1BTC. The next month, 1.5BTC, and the next, 1.2BTC and so on. And then if it does become adpoted as an official currency, doesn't that kind of defeat the whole purpose of it?

I think we'll soon to be getting to the good part of this experiment.

 

[BUnit1701]

I'm confused as to where this all heading. Right now, I cannot see it being adopted when it keeps changing in value. One week a computer might cost 1BTC. The next month, 1.5BTC, and the next, 1.2BTC and so on. And then if it does become adpoted as an official currency, doesn't that kind of defeat the whole purpose of it?

I think we'll soon to be getting to the good part of this experiment.

Every currency changes value relative to other currencies all the time. This is not something new.

 

[philipma1957]

I looked into the Red Furys and found they would take ages to make any significant profit. Even that profit relies on Bitcoin staying at like $500+. And by that time when the cost of device is covered the difficulty will be so high that they'll be near useless. Basically its just as much of a risk as buying Bitcoins directly. That said the online profitably estimators differ wildly so maybe I'm wrong.

I still run a few Block Erupters that I'll keep going until the power costs out-way the revenue but they're basically making pennies at this point.

I did about 10 different moves.. some very good some bad. but the coins are over 700 usd now. After all the sales buys and moves I have about 260gh in hash power all paid for just hashing away.

Plus 90gh is due in Jan. In the short term the 260gh will earn 6-8 coins by jan 1st after that who knows?

 

[ultimatebob]

The mods should really move this topic to another forum. Nobody in their right mind is mining bitcoins with video cards anymore!

 

[24601]

The mods should really move this topic to another forum. Nobody in their right mind is mining bitcoins with video cards anymore!

You talkn' to me?

Just make the thread title Bitcoin/Litecoin. The content in the thread talked alot about both anyways.

 

[ultimatebob]

Even Litecoin mining with a video card isn't really profitable anymore unless your electricity is cheap.

 

[24601]

Even Litecoin mining with a video card isn't really profitable anymore unless your electricity is cheap.

That was true until the massive spike in Litecoin price a few days ago. Now it's profitable for everyone until the global hash-rate (And thus difficulty) rises to equilibrium again.

If you don't believe me, here you go

http://dustcoin.com/mining

 

[thilanliyan]

Yeah the difficulty is to the point where I'm barely making 1 LTC/day, even with 3 7950s, although I have them undervolted and underclocked somewhat to cut down on power consumption.

 

[ultimatebob]

That was true until the massive spike in Litecoin price a few days ago. Now it's profitable for everyone until the global hash-rate (And thus difficulty) rises to equilibrium again.

If you don't believe me, here you go

http://dustcoin.com/mining

Looks like I would only be making a couple of cents an hour unless I mined BBQCoin.

Seriously... BBQCoin is making another comeback?!?

 

[blastingcap]

This thread really belongs in Distributed Computing forums.anandtech.com/forumdisplay.php?f=15 at this point because it's not just video-card specific, it includes FPGAs and ASICs as well.

 

[24601]

Looks like I would only be making a couple of cents an hour unless I mined BBQCoin.

Seriously... BBQCoin is making another comeback?!?

I see nothing wrong with my current AMD/ATi cards funding my upcoming 290, my 780, and my G-Sync monitor :awe:

 

[philipma1957]

it should be a sticky on video cards with a we moved it to 'whatever' link .

a tech helped many of us to get into mining with this thread.

 

[dajeepster]

i think this should be moved to DC, since alot of the early miners started out in DC.... i wanna go back home..

 

[blastingcap]

it should be a sticky on video cards with a we moved it to 'whatever' link .

a tech helped many of us to get into mining with this thread.

Actually, mining started with CPUs and distribute computing.

Imho, stickies should be for only the most important topics like forum announcements or when new video cards launch. Else you wind up with clutter due to having a bunch of stickies.

 

[philipma1957]

Actually, mining started with CPUs and distribute computing.

Imho, stickies should be for only the most important topics like forum announcements or when new video cards launch. Else you wind up with clutter due to having a bunch of stickies.

I would normally agree but it may be the largest thread on the site or one of the top 10 largest threads on the site. Most likely this thread helped to sell thousands or even tens of thousands of amd video cards. I would keep it on the top of the video card graphic section for a month or two announcing the move to link in cpu's and distributed computing. That would work for me.

But if some one missed the move notice they would have trouble finding it. So having a moved to spot holder on the video cards and graphics would need to be there a while but not forever. I still refer to this thread for info and I sometimes give the link to people on bitcointalk dot org . Still have to thank this site for the starting point of mining for me.

 

[Silverforce11]

Litecoin and other alt scrypt coin mining is still very profitable on GPUs. Making more profit than BTC peak awhile ago..

So thread is as valid as ever, in directing GPU users towards mining these altcoins.

Edit: Thread should stay put, it really directs people who aren't aware of their GPU's capabilities to actually make $$. Title should be updated to reflect GPU involvement in mining bitcoins and altcoins.

 

[ViRGE]

Considering that video cards are no longer fast enough to suitably participate in (and profit from) Bitcoin, I've had a request come in that this be moved over to the Distributed Computing forum. Are there any objections to this?

-ViRGE

 

[Smartazz]

Considering that video cards are no longer fast enough to suitably participate in (and profit from) Bitcoin, I've had a request come in that this be moved over to the Distributed Computing forum. Are there any objections to this?

-ViRGE

This thread should be more about coin mining in general since a lot of us mine litecoin.

 

[blastingcap]

Considering that video cards are no longer fast enough to suitably participate in (and profit from) Bitcoin, I've had a request come in that this be moved over to the Distributed Computing forum. Are there any objections to this?

-ViRGE

For the record, I wasn't the one who made the request. That said, I have no objection since this thread should have stayed in Distributed Computing in the first place.

 

[Qianglong]

Its confirmed, I just lost 8 BTC through the MotherF**** MTGOX MY USD$ somehow mysteriously converted to BTC and transferred to an unknown address when I tried to withdraw to my bank account Completely heartbroken

Maybe some of you nice folks here can spare me some BTC

 

[24601]

Its confirmed, I just lost 8 BTC through the MotherF**** MTGOX MY USD$ somehow mysteriously converted to BTC and transferred to an unknown address when I tried to withdraw to my bank account Completely heartbroken

Maybe some of you nice folks here can spare me some BTC

IDK why anyone would trust Mt.Gox for anything. Use BTC-E.

 

[Qianglong]

IDK why anyone would trust Mt.Gox for anything. Use BTC-E.

I already learned my lesson...thank god my only 1 BTC remaining was not transferred to MGTGOX..

 

[24601]

I already learned my lesson...thank god my only 1 BTC remaining was not transferred to MGTGOX..

The US Gov has already seized their funds more than 1 time. And they don't have very good user security on their site (the thing that probably led to your stuff going missing).