Cryptocoin Mining?

[Zargon]

what kind of service do they use to deliver the USD? paypal?

DWOLLA, which is a paypal alternative

 

[YoungGun21]

So when you're using guiminer and it says under Accepted: "8563(167)" what does that mean and how far away is it from mining an actual bitcoin?

That means it has done 8563 shares total in this session, 167 in the last hour.

Blocks are mined at random, so you could find one any time. To give you an idea, we mined all summer with 4 5830s and found 3 blocks.

 

[hdfxst]

http://www.tigerdirect.com/applicati...K3nQ9SIFoJz4jw 6990 in stock

 

[dpk33]

DWOLLA, which is a paypal alternative

i can't sign up for dwolla since i'm canadian. any other alternatives?

 

[Zargon]

liberty reserve, paxum or a wire transfer

dislaimer: I have not used LR or paxum(never heard of paxum till today)

 

[Mir96TA]

i can't sign up for dwolla since i'm canadian. any other alternatives?

Let me know if you find some thing
I did saw Cavirtex
However most inexpensive is Direct Deposit method to your bank which is 3 bucks.
I wouldn't mind Free checks or some thing like they have in US

liberty reserve, paxum or a wire transfer

dislaimer: I have not used LR or paxum(never heard of paxum till today)

I think Paxum charges you some fee ?
I am also looking for free xfer or almost free

 

[OCGuy]

edit

 

[Chiropteran]

I think Paxum charges you some fee ?
I am also looking for free xfer or almost free

Are you trying to get money out, or in?

I use http://spendbitcoins.com/ to generally get money out, since I have been mostly buying computer hardware. With amazon as an option, you can buy pretty much anything. I like how the rate is based on the previous 24 hour average, when BTC are going down you can get more money for your coin than you would selling directly.

There is also https://www.bitcoin2cc.com/ which I have never tested but seems legit.

 

[Mir96TA]

Are you trying to get money out, or in?

I use http://spendbitcoins.com/ to generally get money out, since I have been mostly buying computer hardware. With amazon as an option, you can buy pretty much anything. I like how the rate is based on the previous 24 hour average, when BTC are going down you can get more money for your coin than you would selling directly.

There is also https://www.bitcoin2cc.com/ which I have never tested but seems legit.

They look like AmeriKan thing.........
I was out looking for Kanadain thing

 

[hdfxst]

this just figures,the luck of the pool i'm in went way up and the price of btc went way down.

 

[YoungGun21]

this just figures,the luck of the pool i'm in went way up and the price of btc went way down.

You don't have to sell right away. Hold on to them until price rises.

 

[hdfxst]

You don't have to sell right away. Hold on to them until price rises.

That's what i've been doing for the last month but they keep going down,i'm sure the price will go to 20 dollars the day after i sell.I plan on quitting when i hit 25 coins which should be sometime over the weekend.So if anyone is looking for a good 5830 mine will be for sale soon

 

[Jen]

You don't have to sell right away. Hold on to them until price rises.

i'm holding till they either become realistic again with prices or this bitcoin fails.


Jen

 

[NoStateofMind]

Bitcoin nosedive to $7.70

 

[v8envy]

Bitcoin nosedive to $7.70

And another 2.70 to go until some people start turning off their miners and selling their hardware. 6990s in stock is a positive sign.

Hey, who knows, we all could get another shot at becoming early adopters.

 

[Smartazz]

Any possibility people will be selling their 6 series hardware as a result of the recent price drops?

 

[OCGuy]

Any possibility people will be selling their 6 series hardware as a result of the recent price drops?

Look for a flood of ATI hardware on the market if this slide continues. I thought I was going to buy in at $8, but there isnt even a real steady range any more..it is just moving downward...

This is the problem with a currency that can so easily be manipulated through hacking/etc.

 

[hdfxst]

I don't think anyone bought 5830's to use after bit mining so you should see a flood of them.I tried to crossfire mine with a 5850 and they work until you start overclocking(but that could be on my end because i could be pushing my psu to it's limit)for me a stock 5850 and 5830 are no faster than a single 5850 @900/1200

 

[dakU7]

This is sick. Last week we were close to 14$, now the price fell in half.
Not going to mine anymore, not until I see a significant decrease in difficulty.

 

[OCGuy]

And another 2.70 to go until some people start turning off their miners and selling their hardware. 6990s in stock is a positive sign.

Hey, who knows, we all could get another shot at becoming early adopters.

Very possible.

More miners turn off their machines...difficulty decreases...they figure out a way to make the currency more stable (to prevent things like the recent hacking that is causing this tank), and it could spike again later.


If anything, this whole deal has given a bunch of computer geeks a lesson in currency speculation

 

[4ghz]

I would expect bitcoins to continue to drop to under $5 as speculators throw in the towel and try to recoup some of their investment. Heck if mt glox allowed you to short bitcoins I would expect it to drop under $2 at some point.

 

[OVerLoRDI]

As the price drops more an increasing number of people will not break even on their mining operation. Miners will have a few choices

1. Stop mining and sell hardware to try and recoup sunk costs
2. Stop mining and wait for profitable levels to return, then turn hardware back on
3. Keep mining at a loss thinking the price will go up again in the future

A profitable mining operation is essentially buying bitcoins at a lower price than the market. Therefore, number 3 is foolish, since if you think the price of coins will recover, you should buy them on an exchange for cheaper than what you would pay to generate them.

Which is better for the miner? 1 or 2. Depends on what you think about the future of bitcoin. If you think bitcoin will fail, sell all your hardware now while there are people who think there is still hope. If you think bitcoin is going to recover, wait out the storm (once your operation isn't profitable anymore) maybe pick up some cheap coins on the bottom and hopefully reap rewards. Either way it is a gamble.

Sucks big time for those who invested tons of money in hardware in June/July. Your calculations of when you will recover your sunk costs are all jacked now.

Interesting times are ahead for bitcoin miners.

 

[gorobei]

the drop isnt because of any hacking really. More of a loss of confidence in the bitcoin support system.

bitomat exchange put their entire setup on a virtual server with no hard backup and lost 17k btc of clients deposits.
plus mybitcoin online wallet site disappeared with everyones wallet contents(but seriously who trusts some unknown site with your entire wallet. download the frikken client to your desktop and transfer to phone wallet app if you really need to be mobile with your coins)
http://launch.is/blog/bitomat-loses-data-and-mybitcoin-shuts-down-new-bitcoin-cris.html
http://siliconangle.com/blog/2011/0...ost-their-wallet-over-17000-bitcoins-missing/

the US debt ceiling and credit downgrade is probably causing some panic cashouts, but there's no real technical mechanism driving the btc down, just loss of confidence. but that is to be expected of a purely speculative currency.

 

[hawtdawg]

this is why i got 6950 1 gig cards. If this shit goes bust, i'll be able to sell them. Good luck selling 5830's.

Also, I can't fathom why anyone would use a 3rd party bitcoin bank to store coins.

 

[hdfxst]

this is why i got 6950 1 gig cards. If this shit goes bust, i'll be able to sell them. Good luck selling 5830's.

that's why i went small time,the only money i have invested is 110 for the 5830,55 for a motherboard and .92 btc for an extention cable and i mined 25 coins so no matter what i get for the 5830 it's still a profit.i sure wouldn't want to be someone who bought 10-20 of them