Cryptocoin Mining?

[chihlidog]

Please, spend less time trying to Doctor Phil others. (includes Drivenbyvoltage)
Use the report button like I did, if you have a problem with others posts.
By the way, what happened to all the impassioned rhetoric about being green ? The amount of emotion I heard spilled about gaming a few hours a week, using a less efficient video card was being compared to sin. LOL
Now a nerds dream of making money with their computer has erased all that logic. Run em 100% 24/7 , screw electricity or any common sense ! I'm getting rich !
facepalm/

My gpus are 100% solar powered.

 

[v8envy]

By the way, what happened to all the impassioned rhetoric about being green ? The amount of emotion I heard spilled about gaming a few hours a week, using a less efficient video card was being compared to sin. LOL
Now a nerds dream of making money with their computer has erased all that logic. Run em 100% 24/7 , screw electricity or any common sense ! I'm getting rich !
facepalm/

I don't see any inconsistency. Your hardware is less power efficient at both tasks -- whether that be computing polygons for gaming or computing SHA256 hashes for bitcoins. Both are very much using the hardware for a non-productive, entertaining purpose and both are non-green activities.

Anyone raging at you for being non-power efficient in the first place would still be justified in rage had you actually tried to bitcoin mine for the same reason. Radeons are still way 'greener' at both tasks, that has not changed.

Now, had the issue been about gaming AT ALL in the first place then the rager would have been quite the hypocrite had they now dogpiled on the bitcoin bandwageon.

 

[Red Storm]

Please, spend less time trying to Doctor Phil others. (includes Drivenbyvoltage)
Use the report button like I did, if you have a problem with others posts.
By the way, what happened to all the impassioned rhetoric about being green ? The amount of emotion I heard spilled about gaming a few hours a week, using a less efficient video card was being compared to sin. LOL
Now a nerds dream of making money with their computer has erased all that logic. Run em 100% 24/7 , screw electricity or any common sense ! I'm getting rich !
facepalm/

I don't even do BC mining and I find this post a bit odd. You seem to be upset over something. :hmm:

 

[notty22]

I don't even do BC mining and I find this post a bit odd. You seem to be upset over something.

Its the internet. Read what you want in to it:hmm:

 

[Chiropteran]

It's about being as efficient as possible. If there is a way to get 300MHash/s for less W than my 5830s are using for similar costs, by all means share. Nvidia certainly isn't it, they are about 1/3 as efficient and 3X as expensive for equal MHash/s. FPGA so far have proven to be energy efficient but at the cost of a huge loss of cost efficiency, you need to spend about 10X as much on hardware.

 

[hdfxst]

But with bitcoin the gpu core is all that matters.I have the memory down at 400,the cpu is running 800@.75V the system memory is running 800 @1.8V instead of 1066@2.1 and i'm using the machine to type this.You can compensate for the increased power

 

[blastingcap]

I don't see any inconsistency. Your hardware is less power efficient at both tasks -- whether that be computing polygons for gaming or computing SHA256 hashes for bitcoins. Both are very much using the hardware for a non-productive, entertaining purpose and both are non-green activities.

Anyone raging at you for being non-power efficient in the first place would still be justified in rage had you actually tried to bitcoin mine for the same reason. Radeons are still way 'greener' at both tasks, that has not changed.

Now, had the issue been about gaming AT ALL in the first place then the rager would have been quite the hypocrite had they now dogpiled on the bitcoin bandwageon.

To give you context, notty is apparently referring to a discussion on these boards several months ago re: the GTX 460-1GB vs. the HD6850, where I noted that the peak power draw was higher for the GTX 460 and that idle was either a draw, or possibly in favor of the HD6850 according to a few reviews, but it was hard to say for sure. I noted that most people don't game more than a few hours a day, so if they leave their PCs on 24/7, then idle power draw is what really costs you in the long run. In a typical case, the differential could be ~$15 per year, which could be enough to tip the balance of which card had better bang-for-the-buck in the long run, since $15 is a significant fraction of the then-going rate for the cards (which was about $160 at the time, if memory serves). In any case, I said that you can't go wrong with either card at that price point. I also didn't raise a big fuss about environmentalism, knowing that most gamers--most people in generally, really--don't care.

Certain people flamed me for saying that, mocking my power analysis and saying hey, what's a few bucks in the grand scheme of things? Some also noted that when both were overclocked, the GTX 460 could arguably eke out a small advantage in frames per second over the HD6850. My response was this:

1) if a few bucks doesn't matter in the grand scheme of things, then an extra frame per second here and there also doesn't matter in the grand scheme of things;

2) if we're serious about comparing bang4buck between two cards that basically tied in performance, then we might have to look at tiebreakers (e.g., Eyefinity vs CUDA/PhysX, power draw, noise, thermals) to determine a winner;

3) I said you can't go wrong either way.

I don't know why he's getting personal with me and misremembering what I said in the 460/6850 thread (repeat: I did not go in depth into environmentalism in that thread). In this thread, I just agreed with the other guy who assembled a fairly damning digest of notty's recent comments about BTC mining, except that I expressed doubt that notty actually lost money on BTCs. It doesn't take a "Dr. Phil" to see notty's leanings, as it is self-evident from his many snide remarks against BTC mining and sniffing about how NVDA cards are better at Folding. But hey, green is the color of NV, after all, pardon the pun.

 

[WelshBloke]

Money laundering. I'm somewhat surprised that there isn't an online gambling site that takes bitcoins.

I'm not sure of the details of the whole bitcoin currency conversion but I dont think you can exchange Dollars (dodgy or otherwise) directly into bitcoins, dont you have to go through paypal first or something.

I'd think this would make its use as a money laundering scheme a bit limited.

If you could gamble directly with them and collect your payout in dollars I think you'd see their popularity rise pretty quickly, as well as the authorities interest.

 

[WelshBloke]

...
By the way, what happened to all the impassioned rhetoric about being green ? The amount of emotion I heard spilled about gaming a few hours a week, using a less efficient video card was being compared to sin. LOL
Now a nerds dream of making money with their computer has erased all that logic. Run em 100% 24/7 , screw electricity or any common sense ! I'm getting rich !
facepalm/

You say that like everyone has the same opinion of what they want out of a videocard.

I like my cards to be fairly power efficient and dont particularly like leaving thing running full power 24/7 hence when discussing video cards I bring those points up. Those are also some of the reasons I'm not generating bitcoins.

Other people care about other things.

You seem to be lumping everyone in together and using something that matters to one person to attack a different persons views and then shouting hypocrite.

 

[Chiropteran]

If you could gamble directly with them and collect your payout in dollars I think you'd see their popularity rise pretty quickly, as well as the authorities interest.

I'm sure this will happen. It's just such an obvious killer app for bitcoins. The first quality (texas hold'ems) poker site with minimal cuts will be huge, IMO.

 

[v8envy]

I'm not sure of the details of the whole bitcoin currency conversion but I dont think you can exchange Dollars (dodgy or otherwise) directly into bitcoins, dont you have to go through paypal first or something.

I'd think this would make its use as a money laundering scheme a bit limited.

If you could gamble directly with them and collect your payout in dollars I think you'd see their popularity rise pretty quickly, as well as the authorities interest.

First, there are online gambling sites which accept bitcoins. Bitcoinroulette? Something like that. Their popularity has waned now that each "poker chip" is worth tens of dollars instead of fractions of a cent.

Second, you *can* directly exchange bitcoins for other currencies just like you'd exchange any other currency. You find an exchange which trades both bitcoins and the currency you'd like and... make a trade.

Third, dollars are the traceable currency, not so much bitcoins. You can convert bitcoins to dollars completely anonymously on all the current exchanges. It's the receiving of dollars that's the non-anonymous part.

Laundering money with bitcoins would be very simple at the moment. You would "invest" in bitcoins with the "clean" money. You'd do this by either buying BTC or buying mining hardware. Then use "dirty" money in a separate account to make large purchases and sales moving the entire bitcoin market. The profits from "savvy" trades come out of your first "clean" trading account to a legitimate bank via Dwolla, are properly tracked and taxed and have absolutely zero connection to the "dirty" money.

 

[v8envy]

You know, the bitcoin market may be too small to launder cash, but I just thought of a much better way.

Buy AMD stock as a legitimate investment. Take 10-100M drug dollars, buy all available bit coins running the price from say $1 to $30. Tens of thousands of people do math, go "holy crap, I can pay for a 6990 in three weeks!" and run out to buy up every high end (read: profitable) and previous generation ATI card at all etailers and retailers. The last two have already happened, but I'm using it as a hypothetical anyway.

ATI channel utterly empties, and they report a small yet significant uptick on their quarterly earnings and growing per-unit revenue (as a side ripple, their competitor may have smaller than expected sales and profit per unit that quarter). Analysts et al project that relatively tiny blip out to infinity and we get a massive % return on investment on the broad market.

A quarter later after the BTC crash the opposite happens.

Apply a large amount of leverage in both directions (go long lots of out of the money calls first cycle, go long lots of out of the money puts the second) and you have a very high chance of recouping your original "dirty" investment and then some.

If I was the paranoid type I'd be all over ATI stock right now. =)

 

[OCGuy]

You know, the bitcoin market may be too small to launder cash, but I just thought of a much better way.

Buy AMD stock as a legitimate investment. Take 10-100M drug dollars, buy all available bit coins running the price from say $1 to $30. Tens of thousands of people do math, go "holy crap, I can pay for a 6990 in five weeks!" and run out to buy up every high end (read: profitable) ATI card at all etailers and retailers.

ATI channel utterly empties, and they report a small yet significant uptick on their quarterly earnings and growing per-unit revenue (as a side ripple, their competitor may have smaller than expected sales and profit per unit that quarter). Analysts et al project that relatively tiny blip out to infinity and we get a massive % return on investment on the broad market.

A quarter later after the BTC crash the opposite happens.

If I was the paranoid type I'd be all over ATI stock right now. =)

I think the supply of AMD cards would be your limiting factor there. 6990 is not a high-production card.

 

[OILFIELDTRASH]

I still can't believe this. Wow. People will fall for anything.

Pretty much if you can walk and chew gum at the same time nowadays you're ahead of the curve. By a big margin too.

 

[Firestorm007]

You say that like everyone has the same opinion of what they want out of a videocard.

I like my cards to be fairly power efficient and dont particularly like leaving thing running full power 24/7 hence when discussing video cards I bring those points up. Those are also some of the reasons I'm not generating bitcoins.

Other people care about other things.

You seem to be lumping everyone in together and using something that matters to one person to attack a different persons views and then shouting hypocrite.

He's just mad that AMD does it better. Nevertheless, I really wished I hadn't sold my 5870 now. However, I do wonder how long this will all last.

 

[OILFIELDTRASH]

I guess it's all good til your mom busts into the basement and asks why the electric bill is $500 this month. Then you can reply "But moms I be getting rich with bitcoins."

 

[SlowSpyder]

Please, spend less time trying to Doctor Phil others. (includes Drivenbyvoltage)
Use the report button like I did, if you have a problem with others posts.
By the way, what happened to all the impassioned rhetoric about being green ? The amount of emotion I heard spilled about gaming a few hours a week, using a less efficient video card was being compared to sin. LOL
Now a nerds dream of making money with their computer has erased all that logic. Run em 100% 24/7 , screw electricity or any common sense ! I'm getting rich !
facepalm/

It's absolutely killing you that AMD cards are in huge demand because they outshine Nvidia cards with this, isn't it?

 

[v8envy]

I think the supply of AMD cards would be your limiting factor there. 6990 is not a high-production card.

Yes, 6990s were showing sold out world wide pretty early in this craze. But 5870, 5850 and 5830s were available longer.

It's still possible to occasionaly see 5830s on newegg. They flash in and out all the time, selling for $30 more than they used to just a month ago.

Looking at the processing power growth on bitcoinwatch I am guestimating nearly *THREE THOUSAND* 5830 have been pressed into service over the past month. Now some of that could have been existing hardware, but I wouldn't be surprised if a few extra million $ of obsolete hardware got bought that doesn't get bought in a normal product cycle.

 

[NoStateofMind]

I guess it's all good til your mom busts into the basement and asks why the electric bill is $500 this month. Then you can reply "But moms I be getting rich with bitcoins."

Do you not have something better to do with your time?

 

[v8envy]

I guess it's all good til your mom busts into the basement and asks why the electric bill is $500 this month. Then you can reply "But moms I be getting rich with bitcoins."

I've been monitoring the power meter outside my house. I'm on track to paying an extra ~$45 in power this month at ~10c/kwh. I've already cashed out $142.73 after transaction costs in bitcoins over ~10 days (still have 2.3 to sell).

If I was already paying commercial rates (read: had my own hole in the wall business already) that picture would have looked rosier.

In other words, 50% realized and 80% projected return on investment in roughly 12 days, not counting the value of hardware if sold used. Plenty of people including myself are wishing they did more than dip their toes in the water with this pyramid last cycle. People risk FAR more money with the stock market for FAR lower returns.

 

[OILFIELDTRASH]

Have you actually seen any of this money? And how do you know that later down the road the govt doesn't come with their hand out asking you to return the money or the bank finds out that the money you received was from a fraudulent account.

 

[OILFIELDTRASH]

There is no such thing as free money. This whole thing screams scam. I wouldn't touch this thing with a 10 ft pole and you guys shouldn't either if you're smart.

 

[blastingcap]

There is no such thing as free money. This whole thing screams scam. I wouldn't touch this thing with a 10 ft pole and you guys shouldn't either if you're smart.

Thanks for looking out for others. You have a nice rig, by the way:

i7 930 3.8ghz, asus direct II cu gtx 580 902mhz 1.1v, 6gb corsair dominator, megahalems, DX58SO, cm atcs 840 case, antec quattro 850w, intel 80gb ssd boot, ocz agility 120gb ssd game drive, asus 120hz monitor

 

[notty22]

Someone tell me when this is supposed to helps AMD's stock ? lol
Its currently at a 6 month low.
The idea that this is good or bad for AMD, is (here comes the car analogy) the same as a Prius (good gas mileage) is good for Pizza delivery. It does not really factor.

 

[OILFIELDTRASH]

Thanks for looking out for others. You have a nice rig, by the way:

i7 930 3.8ghz, asus direct II cu gtx 580 902mhz 1.1v, 6gb corsair dominator, megahalems, DX58SO, cm atcs 840 case, antec quattro 850w, intel 80gb ssd boot, ocz agility 120gb ssd game drive, asus 120hz monitor

Nothing to do with amd or nvidia. Just trying to throw a little common sense out there. If you guys feel like wasting your money on new cards and electricity for nothing then have fun.