Cryptocoin Mining?

[pm]

Thanks for the head's up on Primecoin, Chiropteran. If I do actually make a fair amount of money from it, you'll need to send me your address so that I can monetarily express my gratitude.

It was actually a lot of "fun" to set up - and I mean that sincerely. I recompiled the code for my Haswell box and I'm getting 1400-1600 primes-per-second - which is just rocking compared to the way it was configured when I got it. It was fun because I actually totally suck at make/g++/compiling and I really have only a limited clue what I'm doing and it's a great feeling when you make a chain of guesses and they all seem to pan out. I have no idea how many I've mined, but when I checked the transactions, everything looked good and processing as expected.

What's really good about primecoin is you can mine litecoins with cgminer while mining primecoins in the background. So it doesn't even cost anything.

I don't know if primecoin will work out - it's got a better basis than lots of other new coins out there, so it's one of the more promising new ones - but it was fun getting it working and it doesn't cost me anything extra to mine (litecoin hashrate wasn't impacted) so it's ok even if the coins are worthless in the end. But I have a better feeling about primecoin than I have about any of the other derivatives out there after litecoins.

 

[Chiropteran]

I mined about 300 primecoin in the first 3 days, but haven't found a single block since Wednesday 7am. Difficulty doesn't *seem* that high (7.6 something) but I am either having terrible variance or it's become significantly harder to mine. Mining on a 6 core phenom, a dual core athlon 2, and an i7-3770.

edit:

Has anyone used this exchange?
https://mcxnow.com/exchange/XPM

Just curious how legit it is, it includes primecoin as a traded currency.

 

[pm]

I mined about 300 primecoin in the first 3 days, but haven't found a single block since Wednesday 7am. Difficulty doesn't *seem* that high (7.6 something) but I am either having terrible variance or it's become significantly harder to mine. Mining on a 6 core phenom, a dual core athlon 2, and an i7-3770.

edit:

Has anyone used this exchange?
https://mcxnow.com/exchange/XPM

Just curious how legit it is, it includes primecoin as a traded currency.

When I checked this morning, I had found at least three blocks between 11pm last night and 7am this morning.

What sort of hashrate (or primerate? ) do you get on your systems?

 

[Chiropteran]

When I checked this morning, I had found at least three blocks between 11pm last night and 7am this morning.

What sort of hashrate (or primerate? ) do you get on your systems?

It's highly random, apparently. Checked once and got 47 primepersec, a minute later and it's 61 primepersec, now 72. Going to try on some other systems with different CPU and see what the results are.

edit: 97 now. keeps increasing. 133.

 

[crashtech]

Isn't is a given that solving for primes becomes progressively more difficult?

 

[Chiropteran]

Well. Switched to the custom build in this thread-
https://bitcointalk.org/index.php?topic=253662.260

And now I am getting 830 pps on my i7, and 580 on my a10-5800k. Apparently the default client uses a pretty badly written code, and proper optimizations make for some huge gains.

Isn't is a given that solving for primes becomes progressively more difficult?

Yes, but the difficulty isn't increased by increasing the size of the primes, it just means a larger chain of primes needs to be found, or something. The author specifically mentioned what you are talking about, finding progressively larger primes becomes exponentially harder, but primecoin's scaling difficulty uses some other mechanic to allow it to scale in more a linear fashion.

 

[Sazuzaki]

I've seen a lot of used 7970's saying its used for bitcoin mining, does bitcoin mining put that much stress on these GPU's that it shortens their life significantly?

 

[chimaxi83]

I've seen a lot of used 7970's saying its used for bitcoin mining, does bitcoin mining put that much stress on these GPU's that it shortens their life significantly?

If it did, people wouldn't be able to mine on, for example, their 5800 series cards for years like they have. No, it doesn't shorten their lives.

 

[Chiropteran]

I've seen a lot of used 7970's saying its used for bitcoin mining, does bitcoin mining put that much stress on these GPU's that it shortens their life significantly?

Not directly, no. Some miners overclock, and running at 24/7 heavily overclocked might cause some damage. But mining at normal clocks and keeping temperatures reasonable doesn't cause any extra damage than using the GPU normally, in my experience.

 

[Sazuzaki]

ok thats cool coz I've seen tons of em on ebay just wondering if there's real downside besides overclocking.

 

[Lazlo Panaflex]

Has anyone used this exchange?
https://mcxnow.com/exchange/XPM

Dunno about that one, but I've done quite a few trades at Cryptsy, really good exchange, fees are reasonable (plus they're in the states). https://www.cryptsy.com/

 

[Zargon]

If it did, people wouldn't be able to mine on, for example, their 5800 series cards for years like they have. No, it doesn't shorten their lives.

word

I have a 5870 thats been mining for a few years at this point.

 

[Chiropteran]

Bitcoin on the move back up. From $70 a couple days ago just hit $100 briefly. Sitting at $99 now. I feel like it's too soon for there to really be huge rally beyond previous highs, but it's interesting to see what happens. Steady increase and plateau, or steady increase followed by another dip/crash? The bitcointalk forum seems to think value was held down artificially because of all the crap going on with mtgox, and maybe bitcoin is just rebounding to it's real value.

Or a new all-time high? I doubt it, but who knows!

 

[24601]

Thanks for the head's up on Primecoin, Chiropteran. If I do actually make a fair amount of money from it, you'll need to send me your address so that I can monetarily express my gratitude.

It was actually a lot of "fun" to set up - and I mean that sincerely. I recompiled the code for my Haswell box and I'm getting 1400-1600 primes-per-second - which is just rocking compared to the way it was configured when I got it. It was fun because I actually totally suck at make/g++/compiling and I really have only a limited clue what I'm doing and it's a great feeling when you make a chain of guesses and they all seem to pan out. I have no idea how many I've mined, but when I checked the transactions, everything looked good and processing as expected.

What's really good about primecoin is you can mine litecoins with cgminer while mining primecoins in the background. So it doesn't even cost anything.

I don't know if primecoin will work out - it's got a better basis than lots of other new coins out there, so it's one of the more promising new ones - but it was fun getting it working and it doesn't cost me anything extra to mine (litecoin hashrate wasn't impacted) so it's ok even if the coins are worthless in the end. But I have a better feeling about primecoin than I have about any of the other derivatives out there after litecoins.

Getting about 1000-1300 pps on my rig in my sig using 3 cores.

This is fun

 

[philipma1957]

ok thats cool coz I've seen tons of em on ebay just wondering if there's real downside besides overclocking.

It all depends on how they were run. I had 23 or 24 gpus. in 11 pc's

ran them in my garage. underclocked all of them for heat management.

they have stood up very well. most all of the gear has done well with the bitcoinmining.

A few issues:

1)stay away from xfx hd7970's many are locked they run hot and the fans die off!!

2) my fingers broke 3 fan blades on 3 different gpus

3) 1 mobo had its ethernet jack die

4) 2 psu's died both were seasonic and were replaced by seasonic.

I have been selling off the gear on the bay and so far no major complaints.
As a long time ebay seller that is pretty remarkable.

 

[Chiropteran]

Interesting news as far as primecoin:

From Sunny King, the creator:

The current difficulty is approaching the step-up to difficulty 8 (about to happen today). This means within the first week the difficulty already adjusted by about 30x, from initial difficulty 7 at the release, not all that slow at all. However, the mining power on the network has grown about 1000x from the first day of the network. That's why we are seeing the block spacing gradually dropping to the seconds range. The orphan rate on the network is expected to stay relatively high for the next couple of days, while difficulty plays catchup to the growth of mining power on the network.

Amazing how this happens even without ASIC or GPU mining. Not even a working pool as far as I know. There is one pool I found, but it looks super shady and I wouldn't be surprised if it was just a wallet stealer or worse.

Bitcoin mining I'm seeing about .21 btc per day with my ASICs. Not going to pay off for a long long time, if at all. Oh well, gamble and lose sometimes.

 

[Will Robinson]

Mining.....best GPU app after gaming ever?

 

[crashtech]

Bitcoin mining reminds me a bit of the dilemma faced by local dairy farmers. The price of milk goes down, so they produce more to finance their operation, which just drives the price down more, repeat until enough less efficient operators go out of business, then repeat again.

In Bitcoin mining, only the most efficient operations will continue, yet the market dictates there will actually be plenty of those.

 

[philipma1957]

Mining.....best GPU app after gaming ever?

maybe better then gaming. Also make me smile at all Diehard Nvidia card fans.

 

[Smartazz]

Bitcoin mining reminds me a bit of the dilemma faced by local dairy farmers. The price of milk goes down, so they produce more to finance their operation, which just drives the price down more, repeat until enough less efficient operators go out of business, then repeat again.

In Bitcoin mining, only the most efficient operations will continue, yet the market dictates there will actually be plenty of those.

At least usually the investment with mining is fairly small.

 

[crashtech]

At least usually the investment with mining is fairly small.

From what I've seen of the most powerful and efficient miners, that is not necessarily true. Each wave of new hardware and each difficulty increase will necessitate more investment to be profitable.

 

[Smartazz]

From what I've seen of the most powerful and efficient miners, that is not necessarily true. Each wave of new hardware and each difficulty increase will necessitate more investment to be profitable.

With Asics, the risk is much greater. At least graphics cards can be sold off and hold a lot of their value.

 

[Will Robinson]

maybe better then gaming. Also make me smile at all Diehard Nvidia card fans.

+ "a lot" :thumbsup:

 

[crashtech]

With Asics, the risk is much greater. At least graphics cards can be sold off and hold a lot of their value.

Yes, but ASICS will ensure that soon GPU mining will not even be worth the electricity to run them. This has happened already where electricity is not cheap. I don't like it in this particular instance, but it's the nature of the open market to constantly improve money making processes.

 

[philipma1957]

Yes, but ASICS will ensure that soon GPU mining will not even be worth the electricity to run them. This has happened already where electricity is not cheap. I don't like it in this particular instance, but it's the nature of the open market to constantly improve money making processes.

yeah I have been forced out of gpu mining I have been selling off the gear and buying as many asic miner usb sticks as I can.. then in turn selling some of the asic sticks at a small profit to reduce the price of the ones I have kept.

I can run 20 sticks the pc the monitor the usb hubs for 120 watts monitor on 100 watts monitor off. 20 sticks are about 6600 hash.

at todays difficulty of 26 mill and 98 usd a stick I make .126 coins power is about 45 cents I would make 11 bucks a day.



if gpu used for the same .126 coins power is 2400 watts even more due to extra ac. 1 would be lucky to clear 1 dollar a day running pc/gpus . so I am selling off the pc/gpu farm really converting it to asic miner sticks.