Cryptocoin Mining?

[v8envy]

Heck, wouldn't even need that. sha-256 is a simple enough algorithm to do in hardware. The FPGA miners do about 100 Mhash/sec on 4.4 watts -- if this was a long term thing as opposed to a short fad it'd be very lucrative to produce an estimated $30 BoM dedicated card to output 400-500 Mhash/sec on < 30 watts (PCI, PCIe, single slot, works off of one molex). Something like that could easily sell for $300.

You could even have a dedicated black box device with a rudimentary CPU, embedded OS and a few megabytes of ram pumping out a gigahash or two on a 250 watt PSU. They'd fly off the shelves at $1000 (estimated BoM: $150).

The fact that we all think this is a very short term flash in the pan is exactly why you don't see cards/devices like that already.

 

[v8envy]

As a professional currency trader, the logic that went into the claim you are referencing simply never jived with reality IMO.

While I don't question your experience as a currency trader, bitcoins have very little to do with currency, and even less to do with currency trading.

They are more of a commodity and the exchange we have is closer to a turn of the century commodity market than a modern exchange. There is no depth or volume to speak of, there are no derivatives, there is no regulation, greenmail is everpresent and the list goes on and on.

The increasing mining difficulty will only ease the rate of inflation of the float, this will only serve to reduce the downward valuation pressures on BTC exchange rates.

Actually, it won't. The target is 6 * 50 = 300 bitcoins generated an hour to pay out to miners. It doesn't matter if there's just Satoshi with his CPU and a difficulty of 1 mining in 2009, or the current 12 terahash/sec being thrown at the problem. The amount of bitcoins/day generated is targeted to be 7200. Only when the computing power grows explosively do we have the situation where more than 300 BTC/hour are awarded. For Namecoins, the exact opposite problem is in effect -- they're generating 50 / hour because of a factor of 10 reduction in network computing power.

There is no question of "if" this will happen to BTC's, only a matter of when. History will repeat itself, I just hope all my friends and colleagues get out near the top and don't get burned holding the bag on the way down.

It's happening just about every day already, and it doesn't take a massive amount of money to wiggle the graph around. In addition, there are well established cycles for this Ponzi Pyramid. When fresh money doesn't arrive (Dwolla deposits don't happen over weekends) the price vs the dollar softens late Friday, and it firms up by Tuesday.

My strategy is to sell 50% of however many coins I have every week on weekday mornings. That way I will still be invested if BTC go to a million $/coin, but also won't cry too badly if the value evaporates overnight. The hardware and power have already been paid for.

 

[Mir96TA]

I have a computer which I can try to spare for Bitcoin
However I dunno I am little to late to party or not ?
I have following Hard ware
CPU Intel Xeon 3110 (E8400)
Chipset P45
Mem 4 GB
GPU ATi 5850 (1 Gig Ram)
HDD 1 TB
OS Win7 Pro 64Bit
I do not pay extra for Electricity; I live in an appartment where I have an A/C when keep to temp 22 &#176;C
I just wondering can I get some bitcoin to upgrade the Hardware I have ?
or I am wasting my efforts ?

 

[Chiropteran]

I have a computer which I can try to spare for Bitcoin
However I dunno I am little to late to party or not ?

It's never too late

Current earnings are lower than ever, but if you don't pay for electricity and you already have all the hardware you plan to use, why not? Don't expect to get rich, but you might make 1-2 BTC/week with a single 5850.

 

[Will Robinson]

Quote:
Originally Posted by Idontcare
As a professional currency trader, the logic that went into the claim you are referencing simply never jived with reality IMO.

geez...you get around! A few weeks ago you posted as being a process engineer for computer chips.
Why the sudden change of profession?

 

[Mir96TA]

It's never too late

Current earnings are lower than ever, but if you don't pay for electricity and you already have all the hardware you plan to use, why not? Don't expect to get rich, but you might make 1-2 BTC/week with a single 5850.

From your answer looks like only Video Card makes a matter, every thing don't do any thing ?
I also have an another computer it has a GTX 465 1 GB will this do better then ATi 5850 ?

 

[Zargon]

nope AMD cards pwn at btc mining

 

[v8envy]

A 465 will pull in about 1/5th as much as your 5850, but since you don't pay for power why not? Also run a CPU miner. If you have some old 8800s pile em on!

Let's say you're getting 340 Mhash/sec from the 5850, 60 from the 465, another 2 or so from CPU. That's about .25 bitcoin a day. Even with difficulty increases you might pull in 7 bitcoins for the rest of this month. At $15/per that's still $100 you wouldn't otherwise have!

 

[VeryCharBroiled]

sapphire 5830s are in stock at newegg again.

http://www.newegg.com/Product/Produ...2946&cm_re=radeon_5830-_-14-102-946-_-Product

 

[dalamchops]

sapphire 5830s are in stock at newegg again.

http://www.newegg.com/Product/Produc...-946-_-Product

got 1... probably wasn't worth it to get, wish it was the $110 version.

 

[Mir96TA]

A 465 will pull in about 1/5th as much as your 5850, but since you don't pay for power why not? Also run a CPU miner. If you have some old 8800s pile em on!

Let's say you're getting 340 Mhash/sec from the 5850, 60 from the 465, another 2 or so from CPU. That's about .25 bitcoin a day. Even with difficulty increases you might pull in 7 bitcoins for the rest of this month. At $15/per that's still $100 you wouldn't otherwise have!

Hmmmm
See I have another Machine which is AMD
It has a following hardware
CPU AMD PII 1055
Chipset 890GX
Mem 8 Gig
GPU GTX 465 1 GB Ram
OS XP for Now then Win 7 64Bit Pro
I also have a GTX 260 768 MB laying around ( I am trying to sell it) I dunno it can help me on this case :confused

Now; lets say if I run this software Bitcoin; how it effect my computer usage ?
Like watching U Tube Video, Web Surfing, Hi Def stuff (HD DvD, Blu Ray Disc)

 

[Acanthus]

Down to ~ $13.50

 

[dajeepster]

Down to ~ $13.50

I've been watching it go down all weekend.. i wanted to buy something but was just a few $ short ... and when i've seen that i made enough btc to buy the product i wanted, the value went down again... driving me nuts... but finally got enough $ to get the HD6970 i wanted.... now i'm flat broke in btc again.

 

[Acanthus]

If it dips below $10 i'm going to buy in.

 

[Dark Shroud]

Okay can someone recommend a place for me to sell Bitcoins besides Mt Gox or Trade Hill? I need to unload a few coins and neither of those places are options for me.

 

[Chiropteran]

Okay can someone recommend a place for me to sell Bitcoins besides Mt Gox or Trade Hill? I need to unload a few coins and neither of those places are options for me.

http://spendbitcoins.com/ can get you gift cards, not cash though. Used it once for a $540 transaction, all worked out, seems legit.

 

[ghost recon88]

btcguild is under atack now, sure hope it's not gonna get hacked like Mt. Gox :\

 

[gorobei]

btcguild is under atack now, sure hope it's not gonna get hacked like Mt. Gox :\

lol. retaliation for them banning a mining botnet.

how many servers would you have to infect to given the low hash power of cpu's?

 

[NoStateofMind]

lol. retaliation for them banning a mining botnet.

how many servers would you have to infect to given the low hash power of cpu's?

Yeah that poor guy is getting ridden hard and put away wet. Definitely has my support for all this BS he has had to deal with lately.

In the big picture of things, will we look back ten years from now and consider these days of DDoS attacks, stolen accounts and botnets like we regard the wild west was for frontier cowboys? Will these things be a distant memory? Because I cannot see BitCoins lasting long if this is to be the norm.

 

[NoStateofMind]

If it dips below $10 i'm going to buy in.

http://blog.bitcoinwatch.com/

Otherwise, we may stay in the mid/short term bitbearmarket and see (much) lower prices ahead. If 14 $ – 14.2$ zone falls, we may quickly see declines to 10 $. And if this falls, a free fall.

 

[ghost recon88]

What I'm wondering is since I still have my miners running at home, if during this whole DDoS I'm receiving credit?

 

[NoStateofMind]

What I'm wondering is since I still have my miners running at home, if during this whole DDoS I'm receiving credit?

No.

All servers are offline. I'm temporarily on bitcoins.lc

 

[ghost recon88]

No.

Damn btcguild then

 

[Zargon]

damnit.

 

[gorobei]

everyone ran over to deepbit from guild. deep is at 5000Ghash right now.