Cryptocoin Mining?

[chimaxi83]

I think scum who commit DDoS attacks are the lowest of the low, and new punishments should be invented for those who are caught committing them.

Like what? Mom taking the computer away for a week?

 

[crashtech]

I was thinking bring back the icepick lobotomy.

 

[ElectricD]

Just setup multiple pools on your script. With CGminer you can setup unlimited pools as backup incase the others fail.

I'm going to do that, thanks. I'll just have to hope that my main pools don't all go down again simultaneously from DDOS attacks!

 

[Binky]

Interesting thing for those of you have also have accounts on the bitcointalk forums.

Ripple, which IMO is largely a scam, has a promotional thread in which you can post your ripple address and receive 5000 XRP to start your ripple wallet. Even though I agree with the posters who say ripple is a scam, I figured I would check it out for myself, no harm as long as I don't invest anything into it, right?

I signed up for a ripple wallet, posted on the "free ripples" thread with my address, and guess what I got?

Before I even had the 5000 XRP in my wallet, I had 2 PMs in my bitcointalk account from users begging to buy my XRP for bitcoins, one which was a flat offer of .4 BTC for the 5000 XRP. Looking through the other threads I see other posters offering as much as .5 BTC for 5000 XRP. It's a seller's market right now!

So, if you do have an account on those other forums there is an easy opportunity to make ~$45 easy money just by selling freely obtained XRP. However, it requires that your bitcointalk account was created before Feb 19, so you can't just signup a new account and get free XRP now.

I got 3,000 ripples by signing up around the time you posted. Need to figure out how to sell them now. Edit: apparently there's a new ripple giveaway for people registered on or before 5/9/13. Registered for what? I made my ripple account on the 9th, so maybe I'm in...? Damn, maybe I should throw you a tip.

In other news, yacoin client may or may not be stealing your BTC, and Vicurex may have been hacked. You may want to avoid sending any coins to vicurex until this clears up.

 

[markyh]

Been Crypto mining for 1 month (31 days) yesterday with 1 x 7950 custom rig converted from an old unused HTPC.

As of yesterday I had ;

0.1848 BTC (converted from 7 LTC a few weeks ago as a trial)
31.70 LTC
30.624 FTC (Gone to shit as I finished mining them so will just keep)
3.04 TRC (A trial to check out the adjustable difficultly)

As LTC is at a crossroads now with difficultly vs value I grabbed the chance to convert them last night to BTC very close to 0.30.

So I now have 1.1087 BTC and about 0.8 LTC being mined as I type.

Was this profitable? Well yess. My power costs are $0.18 KWH (in the UK) so the 744 hr x 280 watts = 208 KWH = $37 of energy cost.

The BTC is worht about $130 today if I sold so thats $93 net profit. Not to convert that back to GBP.

$93 = £61. I paid £240 for my MSI 7950 on special offer, and I could ebay it tomorrow for at least £200.

So I am total net profit of £21, (£200+£61 - £240).

As many others pointed out here that made sense to me, As AMD 7950 have good resale on ebay after on month of mining LTC to convert to BTC to give a higher BTC return you can be risk free in 1 month.

No so sure going forward now though for those starting now!

M

 

[markyh]

Where will LTC price go in the near future? It needs to go up again as it's almost level now on priofit with BTC mining via GPU as it can't seem to break above 0.30 BTC.

A month ago we where in the 0.20 -0.22 BTC range but pulling 2 LTC a day out on a single AMD 7950.

Today we are at just under 0.30 but oly pulling 1 LTC a day out due to diffucultly being almost 600.

Even after BTC jumps up in difficulty tomorrow to 11m one more big LTC difficulty jump and it would make sense $$$ wise just to mine BTC direct again.

LTC really needs to jump above 0.4 BTC and hold and creap higher. One reason I cashed all my LTC into BTC just under 0.30 is that I fear we my have the same event in LTC as happen to FTC last week.

A diffuculty jump lost it a profit favourable mining level so hash power mining it dissapeared overnight and the value crashed.

In theory if a huge number of GPU jump back to BTC we could see the same thing happen to LTC.

Will Mt.Gox arrive to list LTC very soon an save us?

Everyones thoughts?

M

 

[Rikard]

Where will LTC price go in the near future? It needs to go up again as it's almost level now on priofit with BTC mining via GPU as it can't seem to break above 0.30 BTC.

A month ago we where in the 0.20 -0.22 BTC range but pulling 2 LTC a day out on a single AMD 7950.

Today we are at just under 0.30 but oly pulling 1 LTC a day out due to diffucultly being almost 600.

Even after BTC jumps up in difficulty tomorrow to 11m one more big LTC difficulty jump and it would make sense $$$ wise just to mine BTC direct again.

LTC really needs to jump above 0.4 BTC and hold and creap higher. One reason I cashed all my LTC into BTC just under 0.30 is that I fear we my have the same event in LTC as happen to FTC last week.

A diffuculty jump lost it a profit favourable mining level so hash power mining it dissapeared overnight and the value crashed.

In theory if a huge number of GPU jump back to BTC we could see the same thing happen to LTC.

Will Mt.Gox arrive to list LTC very soon an save us?

Everyones thoughts?

M

I have found that what matters for the alt coins is not their value in USD but their value in BTC. While BTC price is not dictated by mining, the alt coin prices are. If it is more profitable to mine BTC directly, people will do that, otherwise people will mine alt coins and sell them for BTC or LTC. For this reason I found that a good way of estimating whether an alt is under or over valued is to do the ratio of (BTC per day and W) and (ALT per day and W).

Doing that I found that LTC is correctly valued with respect to BTC, while for example FTC is undervalued. But there are reasons why FTC is undervalued, it is just a simple LTC clone with no innovation, so I do not see why people would make long term investment in it. This is the sticking point, if an alt should have higher long term value than BTC it needs to be better (technically or more stable for example) than BTC. LTC has advantages over BTC in that it is ASIC resistant and faster transaction, but whether that is enough remains to be seen.

I am very curious about YAC that can only be mined by CPU. In principle people can keep mining YAC while mining GPU based currencies, so it has a different staying power than for example FTC or CHC that were just pump and dump clones of LTC. I think there is room for BTC (because it was first), one scrypt based coin like LTC (because GPU miners will support it), and one CPU based coin (because everybody has a CPU and it does not compete with running on the same hardware as the GPU and ASIC based coins).

I am on the lookout for a real BTC contender. The developer team means a lot for that. And if the initial difficulty is too low I think it is just a get-rich-quick scam and not a serious effort.

That's my 0.02 BTC

 

[Chiropteran]

BFL still hasn't shipped in quantity, only about 30 units as far as I have heard. When they start shipping hundreds of units per day GPU mining BTC might start to die, and that is when LTC will make more sense.

 

[philipma1957]

BFL still hasn't shipped in quantity, only about 30 units as far as I have heard. When they start shipping hundreds of units per day GPU mining BTC might start to die, and that is when LTC will make more sense.

If they ever ship in number. I cancelled my 1300 usd little single order. got a fast refund. I still have 2x jalapeños kept that order.

Right now asicminer sells 300Mh/s sticks at 2 bitcoins or 220 usd.
I can buy hd7790's for 140 usd get the same hash.

No one has fast delivery of asics except asicminer and they charge too much for the hash power.

 

[Chiropteran]

No one has fast delivery of asics except asicminer and they charge too much for the hash power.

This is true, which is why I'm just waiting for my BFL orders. They may be slow, but the alternatives are also slow (Avalon) or overpriced (ASICminer). It's a gamble but I think it's the best option for me.

 

[Zargon]

crap I cant get logged into ripple now

i really need to documen stuff I do more

 

[Zargon]

backed in w security key..got my 3k ripple

 

[24601]

Emptied my main rig of every card other than the Sapphire 7970 in my sig.

Sapphire Dual-X 7970 Boost 70.1% ASIC Quality 1.175v@1140 core 1.700v@1870 ram

~793 kh/s in litecoin mining @1140 core 1870 ram while browsing the web with 40+ tabs open in Firefox nightly 64-bit.

I could go higher, but then the computer crashes the second I open or run or mouse over a Direct-X 9 program (including Firefox and MSI afterburner)

this means compared to my Sapphire 2L 7950:
793 / 682 = 1.16275659824

16.3% more kh/s comparing worst case for 7970 (Actually running the display driver) with best case with 7950 (Not running anything other than Litecoin) when both are free of thermal constraints put on the card from adjacent cards.

Card was $390 (Potentially 370 with rebate, but I don't do rebates), the 2L was $290 (Potentially 270 with rebate, but I don't do rebates) so:
390 / 290 = 1.34482758621
370 / 270 = 1.37037037037

34-37% increased cost for 16.3%+ increased hash-rate per slot seems reasonable considering I have the fringe benefit of being able to use a faster single card for games

I cannot justify investing further in cards since you can only go up to Quad-Crossfire and that was my mental limit of the amount of cards that would add any fringe benefits at all.

So now I have:
1x Sapphire Dual-X 7970 Boost 70.1% ASIC Quality 1.175v@1140 core 1.700v@1870 ram
1x Craptastic XFX Black Edition 7970
1x Sapphire Dual-X 2L 7950 54.6% ASIC Quality 1.188v@1125 core 1.600v@1700 ram
1x So-so HIS IceQ (Not IceQ^2) @ 1.300v@1050 core 1.700v@1570 ram

 

[thilanliyan]

Wow that is a great hash rate. It's crazy how much better the 7970 is than the 7950 in LTC mining.

 

[24601]

Wow that is a great hash rate. It's crazy how much better the 7970 is than the 7950 in LTC mining.

The caveats are many though:

You have to get a HIS 7970 IceQ^2, Sapphire 7970 Boost, Any MSI 7970
To get good results.

You also lose all your slot benefits since you need it to be the only card in your rig or run a pure bench-rig that is 100% open air and have every other card in your rig be a blower.

My Sapphire 7970 Boost only could do 1.050v@1050 core and even then be running at 99C when the HIS blower was next to it with 1 slot open in between.
This was at 72F ambient.

I would definitely recommend you get a MSI 7970 as the card of choice for a person adament at only running 1 GPU for mining/gaming (as you get the maximum fringe benefits with the minimum hassle from mining at 1x 7970 or 1x 7950)

 

[philipma1957]

backed in w security key..got my 3k ripple

how long did it take? i am 3 or 4 days in and no coin .

This is at communism ltc profit vs btc profit. with 1 card running hard what does your rig pull in power to get that high hash/

 

[24601]

how long did it take? i am 3 or 4 days in and no coin .

This is at communism ltc profit vs btc profit. with 1 card running hard what does your rig pull in power to get that high hash/

@74F ambient
Core@84-85C:
GPU-z says 131-133A with spikes to 137A occasionally
GPU-z says 1.088v with spikes and dips between 1.086v and 1.090v
RAM:
GPU-z says 15.0A with spikes and dips between 14.9A and 15.1A
GPU-z says 1.688v constant
VRM:
VRM1: 93C
VRM2: 91C

133A * 1.088V = 144.704W
15.0A * 1.688V = 25.32W
144.704W + 25.32W = 170.024W at the card excluding Fan
Approximating fan at 10W + 170.024W = 180.024W @ the card
Gold power supply .90 efficiency means
1.1 * 180.024W = 198.0264W @ the wall for just the card

The Amperage the core takes is less when the core is cooler, even with identical load and hash-rates and everything else. This shows that you could probably make it much more energy efficient if you water cooled it or had a better cooler on it in general.

It would be interesting to directly test this against a similar ASIC quality MSI Twin Frozer 7970 with same clocks and similar voltage.

My hunch is that the MSI Twin Frozer would be able to sustain the same clocks at lower voltage because it would be able to maintain less vdroop as well as deliver cleaner power from the additional phases they employ.

The MSI Twin Frozer is rumored to have badly designed VRM heatsink though, so you may need to modify that yourself.

The reason 7950s are so much less power efficient than 7970s when comparing cards with the same boards is that they typically have horrendously low ASIC values.
7950s with ASIC values as low as 40% are not unheard of, and the average is around 50% at the moment.

My HIS 7950 IceQ (not IceQ^2) with bad HIS VRM setup has 168A showing in GPU-z for core and it looks like its power throttling it down to 64A sometimes momentarily, it doesn't effect the hash rates or the work unit rates though.

My Sapphire 7970 and my Sapphire 7950 use approximately the same amount of core amps in GPU-z with the 7950 sometimes using more, and this is with the 7950 running at 71C
When my 7970 is running at 71C it shows ~120A core.

 

[philipma1957]

Interesting thing for those of you have also have accounts on the bitcointalk forums.

Ripple, which IMO is largely a scam, has a promotional thread in which you can post your ripple address and receive 5000 XRP to start your ripple wallet. Even though I agree with the posters who say ripple is a scam, I figured I would check it out for myself, no harm as long as I don't invest anything into it, right?

I signed up for a ripple wallet, posted on the "free ripples" thread with my address, and guess what I got?

Before I even had the 5000 XRP in my wallet, I had 2 PMs in my bitcointalk account from users begging to buy my XRP for bitcoins, one which was a flat offer of .4 BTC for the 5000 XRP. Looking through the other threads I see other posters offering as much as .5 BTC for 5000 XRP. It's a seller's market right now!

So, if you do have an account on those other forums there is an easy opportunity to make ~$45 easy money just by selling freely obtained XRP. However, it requires that your bitcointalk account was created before Feb 19, so you can't just signup a new account and get free XRP now.

Okay I posted for the free xrp's I am later date may 10th was given 3000 xrp on may 13th sold 2950 the max that can be pulled out of account for .27BTC


thread to the xrp buyer. my name is the same as here I posted feedback on his thread


https://bitcointalk.org/index.php?topic=198682.0

thread to the free xrp

https://bitcointalk.org/index.php?topic=145506.0


so .27btc = 31 usd for nothing thank you Chiropteran

 

[ultimatebob]

If you funded your MtGox account using Dwolla, I hope that you were planning on finding another way to get your money back out...

http://betabeat.com/2013/05/departm...huts-down-dwolla-payments-to-and-from-mt-gox/

Besides, I'm more of a BTC-E guy myself. I liked trading the alternative currencies, and the BTC-E "trollbox" is awesome. If you want to what pure greed can do to someone, just read their chat box for a few minutes

 

[BallaTheFeared]

Rut roh

 

[crashtech]

Hmm, I need to decide who I like better, Dwolla or Mt. Gox. I'm leaning toward Dwolla.

In the market for a different exchange now.

 

[Chiropteran]

It's a very interesting development. Could be the end of bitcoin in the USA! /tinfoil hat

 

[ultimatebob]

MtGox sucks... Problems with their site have been directly responsible for at least 2 market crashes. I think that Bitcoin would be better without them.

 

[crashtech]

What's a decent exchange that works with Dwolla?

 

[ozzy702]

MtGox sucks... Problems with their site have been directly responsible for at least 2 market crashes. I think that Bitcoin would be better without them.

Agreed but if MtGox takes a dump/leaves/is shut down without a really solid exchange filling the void it would be very bad for bitcoin. I for one hope that MtGox pulls their head out and invests some of the tens of millions they've made into the back end so that it can become stable, trusted and ultimately the viability of bitcoin.