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Author Topic: Bitcoin  (Read 6857 times)

sdmike1

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Bitcoin
« on: May 29, 2013, 10:16:27 PM »

I kinda went on a random knowledge rampage and came across bitcoin i had heard about it earlier but i thought "what the heck run a miner while i am asleep and AFK." Does anyone else mine or use bitcoin? If so, what pool would you recommend i am more than a little bit confused and some guidance and opinion would be helpful. :)

EDIT:
If you may be so kind, to consider joining my minipool over at triplemining It would be very nice :)
http://sdmike1.triplemining.com
« Last Edit: May 29, 2013, 11:03:28 PM by sdmike1 »
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PerturbedPug

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Re: Bitcoin
« Reply #1 on: May 30, 2013, 07:28:19 AM »

What exactly is Bit Coin?
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Ryding

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Re: Bitcoin
« Reply #2 on: May 30, 2013, 08:21:44 AM »

The bitcoin is (was) the currency of the internet
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Pelly

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Re: Bitcoin
« Reply #3 on: May 30, 2013, 08:42:12 AM »

Ask Xareh hes bitmining i think, so should know what you should do.
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sdmike1

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Re: Bitcoin
« Reply #4 on: May 30, 2013, 08:48:21 AM »

Ok will do lol :)

Gigalith

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Re: Bitcoin
« Reply #5 on: May 30, 2013, 06:38:41 PM »

For the curious, We Use Coins has a good introduction to bitcoin.

AFAIK, bitmining on your average computer nowadays is a waste of electricity. You'll spend more in power costs than you'll get back in bitcoin.
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sdmike1

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Re: Bitcoin
« Reply #6 on: May 30, 2013, 10:28:05 PM »

which is why you use an above average computer and join a pool lol :)

PCCL

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Re: Bitcoin
« Reply #7 on: May 30, 2013, 10:56:11 PM »

hmm... sounds interesting...

my dorm covers electricity so that's not a concern... maybe I'll try it sometimes

does keeping the comp on for 24/7 damage it in any way though?
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Pelly

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Re: Bitcoin
« Reply #8 on: May 31, 2013, 01:37:18 AM »

If you have a bad card and and continuously run it yes it will kill it so anything like a GTX600 series should be ok for at least 3-5 hours a day.
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PCCL

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Re: Bitcoin
« Reply #9 on: May 31, 2013, 01:39:06 AM »

from what I've seen, Nvidia are terribly inefficient

I'm gonna be using a radeon 6950, hope that works alright...
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hadesian

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Re: Bitcoin
« Reply #10 on: May 31, 2013, 02:49:31 AM »

A 7970 GE like mine makes $200 worth of Bitcoin every month.

Not a lot, but yeah...
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Upgradecap

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Re: Bitcoin
« Reply #11 on: May 31, 2013, 04:51:12 AM »

Have you guys seen the all-new PC built specifically for just bitcoin mining? Clocks in at $15k.

http://techcrunch.com/2013/05/23/the-cryonic-bitcoin-mining-machine-is-15000-of-pure-btc-power/
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Gigalith

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Re: Bitcoin
« Reply #12 on: May 31, 2013, 06:25:51 AM »

Have you guys seen the all-new PC built specifically for just bitcoin mining? Clocks in at $15k.

http://techcrunch.com/2013/05/23/the-cryonic-bitcoin-mining-machine-is-15000-of-pure-btc-power/

This one in particular reeks of scam (superconducting silicon?), but people have been shelling out much more than this in mining. The old BFL minirig went for 30K and ran at 1.5 terahashes/sec (while using about as much power as an air conditioner). Or, at least, it would have, had not power and heat issues made it impossible, but BFL has said they will honor the originally advertised hashrates one way or another for the original orders.

Some have eschewed waiting for future, more powerful miners, and spent ~8500 on Avalons, which hash at only 80 GH/s. They still recoup their costs in a month or so. Another company sold literally a million dollars worth of ASICs. I personally hope that no one's put themselves deep into debt to buy this stuff.
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