Cryptocoin Mining?

[taq8ojh]

How comes the value raises when there are more and more bitcoins being added to the circulation?

 

[hyrule4927]

How comes the value raises when there are more and more bitcoins being added to the circulation?

Demand for Bitcoins grows more quickly than the supply of Bitcoins?

 

[nwo]

How comes the value raises when there are more and more bitcoins being added to the circulation?

Because the difficulty is insanely high, and it would take a single miner (without ASIC) at least a few months before he can mine 1 BTC.

 

[24601]

290s @400 USD all out of stock again.

There is only one model of 290x that is priced at 550 USD or lower, meaning Newegg's stocks of 290x are somewhat lowish.

Newegg even sold out of all their pre-order 7950s, 7970s, and 280xs

All Amazon stocks of 290/290x are heavily price inflated.

It definitely seems like AMD/ATi will have a very happy holidays.

On a side-note, only 2 out of 10 in-stock models of 770 2gB cards are at or below 330 USD
Only 3 out of 17 in-stock models of 780 3gB cards are at or below 500 USD

Seems like the massive buyout of Retailer's stocks of AMD/ATi mid-high end cards by miners are straining the stocks of Retailer's stocks of Nvidia's mid-high end cards from normal consumers.

 

[thilanliyan]

^Haha yeah Newegg Canada is mostly out of stock as well.

 

[snowboarder33]

What's the ratio of rejected shares and HW error shares versus accepted shares. It could be that with your settings, the mining process is generating a huge number of invalid shares.

I just got home and this is what my GUI looked like:

I don't think that shows rejected shares or HW errors.

Maybe running cgminer instead will help. Here it is after running it for ~5m:

This is the only thing I have in the bat file:
setx GPU_MAX_ALLOC_PERCENT 100
setx GPU_USE_SYNC_OBJECTS 1
cgminer --scrypt -o stratum+tcp://coinotron.com:3334 -u snowboarder33.worker1 -p password -I 19

What the hell is going on? Does anyone see any glaring problems? Sorry for being a complete idiot, appreciate any help.

 

[Slomo4shO]

How comes the value raises when there are more and more bitcoins being added to the circulation?

Consider this: there is only a finite amount of bitcoin. Once all the bitcoins mined up, it is impossible to obtain bitcoins without exchanging for assets. Due to its finite nature, it will continue to gain value as more demand builds for it. The more that people adopt bitcoins, the more they will be worth. Simple supply and demand.

So LTC ~$40 now, it should hit ~$400 end of next year as well. I have faith in Bitcoin (because so many people invest so heavily in it, as well as massive server farms, china and india onboard, big bucks are at play!), and LTC price is linked to it.

LTC will eventually equalize to being 1/4 the value of bitcoins once all coins are mined up on both.

 

[nwo]

LTC will eventually equalize to being 1/4 the value of bitcoins once all coins are mined up on both.

Pretty much this.

Unless some other crypto currencies join in and skyrocket. Then, things might get a little more complex. As of right now, I think that is a fair estimate and it is only a matter of time before LTC catches up to BTC in a 1:4 ratio.

Or at leat that's what I am hoping for and that's why I plan on holding onto at least 50% of my LTC coins. I might cash out once or twice just to familiarize myself with the process, but I definitely won't be doing it until they are at least $200 each.

 

[Accord99]

What the hell is going on? Does anyone see any glaring problems? Sorry for being a complete idiot, appreciate any help.

The cgminer output looks fine, there shouldn't be any reason a pool wouldn't show roughly 550 khash/s. What does coinotron show is your hash rate now that you're using cgminer?

Edit: After looking at the GUI Miner screen again, how long was it running? 619 accepted shares seems extremely low.

 

[AnonymouseUser]

I just got home and this is what my GUI looked like:
http://snag.gy/VU6Ot.jpg

I don't think that shows rejected shares or HW errors.

Maybe running cgminer instead will help. Here it is after running it for ~5m:
http://snag.gy/SKTbe.jpg

This is the only thing I have in the bat file:
setx GPU_MAX_ALLOC_PERCENT 100
setx GPU_USE_SYNC_OBJECTS 1
cgminer --scrypt -o stratum+tcp://coinotron.com:3334 -u snowboarder33.worker1 -p password -I 19

What the hell is going on? Does anyone see any glaring problems? Sorry for being a complete idiot, appreciate any help.

They both show accepted/rejected. In cgminer, A = Accepted, R = Rejected, and cgminer is doing better than GUIminer as far as rejects and hashrate.

 

[snowboarder33]

The cgminer output looks fine, there shouldn't be any reason a pool wouldn't show roughly 550 khash/s. What does coinotron show is your hash rate now that you're using cgminer?

Edit: After looking at the GUI Miner screen again, how long was it running? 619 accepted shares seems extremely low.

They both show accepted/rejected. In cgminer, A = Accepted, R = Rejected, and cgminer is doing better than GUIminer as far as rejects and hashrate.

@ Accord - that was like for an entire day. Thankfully I think cgminer did the trick, well almost. Coinotron is reporting ~500, however it drops to 450 occasionally. Still a lot better than before.

Here is an updated screenshot:

So if R means rejects, then it looks like I have 320. How do i fix that?

 

[AnonymouseUser]

@ Accord - that was like for an entire day. Thankfully I think cgminer did the trick, well almost. Coinotron is reporting ~500, however it drops to 450 occasionally. Still a lot better than before.

Here is an updated screenshot:
http://snag.gy/KcyVI.jpg

So if R means rejects, then it looks like I have 320. How do i fix that?

You're looking at 1% Rejects on cgminer, and 2% on GUIminer, both of which are fine. Anything under 3% is normal.

 

[Accord99]

So if R means rejects, then it looks like I have 320. How do i fix that?

It depends a lot on the pool, generally though a 1% reject rate is acceptable.

 

[snowboarder33]

Ah phew. Well much appreciated guys!

Now I guess I need to do some tweaking to get a 600 hashrate

 

[Bateluer]

Guys, a couple of the guides I've looked at today have the user installing Catalyst 13.1 drives for Radeons. Uh, that required or give better results? Would the 13.11s work better?

 

[suklee]

Interesting, I've never tried a 6GB model for mining.


So still 80+C? That seems extremely high, at comparable clock and voltage settings my top 7970s are usually in the low 70s with an rpm between 2500-2800 RPM.

What's the fan's RPM? Or perhaps one of the fans has malfunctioned.

The 6GB card gets 100+ Kh/s over the 3GB 7970 with both set to 900/1500. I'm getting about 630 on the 6GB and 500 on the 3GB card. Oh, I've still got Crossfire enabled in CCC. I'll try again with the option disabled.

But yes, about 84C currently on the top (6GB card) - it's running at 100% fan speed (3500 rpm) while the 3GB card is 73C and doing 70% fan (4100 rpm).

 

[Chiropteran]

How comes the value raises when there are more and more bitcoins being added to the circulation?

Others have answered, but to put things in perspective:

The total current supply of bitcoin (all bitcoins ever created, including many that were lost or destroyed) is only worth about $13 billion at current value.

Each month, on average, $129 million worth of bitcoin are mined.

On the other hand, the fed is effectively printing $85 billion USD every month in the form of QE3.

So while it is absolutely technically correct that the supply of bitcoin is increasing, compared to the yardstick of the almighty dollar it's barely increasing at all.

 

[24601]

290s @400 USD all out of stock again.

There is only one model of 290x that is priced at 550 USD or lower, meaning Newegg's stocks of 290x are somewhat lowish.

Newegg even sold out of all their pre-order 7950s, 7970s, and 280xs

All Amazon stocks of 290/290x are heavily price inflated.

It definitely seems like AMD/ATi will have a very happy holidays.

On a side-note, only 2 out of 10 in-stock models of 770 2gB cards are at or below 330 USD
Only 3 out of 17 in-stock models of 780 3gB cards are at or below 500 USD

Seems like the massive buyout of Retailer's stocks of AMD/ATi mid-high end cards by miners are straining the stocks of Retailer's stocks of Nvidia's mid-high end cards from normal consumers.

All 290x's out of stock on Newegg.com

This means almost all AMD/ATi cards 7950 and higher are out of stock on Newegg.com (and almost all out of stock everywhere else for decent prices)

This is Madness :awe:

 

[BallaTheFeared]

network gh/s is going up...

Went to 1100/1700 for 1.3 MH/s @ 600w...

efficiency took an arrow to the knee


I dont think 300 kh/s is worth nearly twice the watts...



1929 up in here!!!!

 

[DownTheSky]

Is it too late to get into mining? What are the chances to get my money back on an 1500usd rig with ~2KH/s output, or at least cut my losses after reselling the parts?

EDIT: Am I reading this right? At ~1M/day mined and 84M cap there will be nothing left to mine within 2 months
http://www.cryptocoincharts.info/pe...year&resolution=day&pair=ltc-usd&market=btc-e D:

 

[Silverforce11]

EDIT: Am I reading this right? At ~1M/day mined and 84M cap there will be nothing left to mine within 2 months
http://www.cryptocoincharts.info/pe...year&resolution=day&pair=ltc-usd&market=btc-e D:

No, reward per block gets halved as time goes on, its currently 50 coins per block, soon to be 25 etc. It gets harder and harder to find the remaining.

 

[DownTheSky]

Ok, after reading some more, what are the chances of the price staying high ($30+ for litecoin, $800+ for bitcoin) for at least the next 10 days? I ask this because it would take me roughly 10 days of mining to break even after reselling the hardware. There was a crash this morning but everyone involved in trading is interested in keeping the price up. (it went back up to 1100 from 800).

 

[Silverforce11]

10 days to break even on 1500 USD? thats a bit fast...

chances of BTC staying high, pretty good. over longer term? damn good.

LTC and other alt coins will always adjust to be a fraction of BTC in value, so it all depends on BTC.

 

[DownTheSky]

No, 10 days for ~ 300 USD. That's the amount of money I'd lose after selling the gear.

 

[snowboarder33]

Since all the other top cards are out of stock, and the only reasonable card still available is the 7870, does it make sense to purchase one today? Or will the soon-to-be difficulty increase negate any potential profit? Looks like you can snag one for about $150.

Also, can I mix different GPU models on the same MOBO? Like if I only have a 7950, can I add a 7870 to the mix?