ASIC is just the term for the technology within the hardware itself. They will require a host computer, and software to run. The device itself does not function without being sent command to do so. Your buying hardware is all. What the future brings who knows.

Thanks everyone! Everyone's reply was very helpful. While I knew the coins didn't actually get stored inside the .dat file, I was still very unware of how the mechanics worked. Thank for answering all my questions there!

The wallet is fairly new. Its only been on my main computer since I started it. I've encrypted it, and have a great system in place to reference my pass-phrase.

As for the idea of using different wallets per PC/Laptop, I like that idea, but I can also see it causing confusion later down the road. Maybe in 6 months or so. Get my .dat files mixed up or something. It would be easy to just uses different media sources per backup, but it still could cause simple user error in the long haul. Though, I think when dealing with something like this I would be extra careful, but I still can't always fore see simple user error in the future. For now. Keeping it as simple, and as linear as possible is a plus too me .  I will just keep my 1 wallet, and lock that baby down Keep a daily backup, and a weekly one that never leaves my house.

Again, thank you all for the very helpful information! Very appreciated!!

-Ryan

Hello

I just had a quick question on how the wallet operates. I'm about to take a trip for a week, and will be taking my wallet with me. My question is how exactly does a wallet operate? For intense: I backup my wallet as I normally do. I take my trip. During my trip I add a few funds to it. I come home, and restore the updated wallet.

But what happens if I don't restore the wallet? In other words, I load up my week old wallet, and try to receive or send some coin? I don't fully understand how this all works. Say I had 5 bitcoins to start with. Take my trip. Send those 5 coins away. Come home and load up the older copy still on my main PC. Will those 5 coins still show up in the older wallet? What happens if I try to send them? What happens if I add coins to the old wallet even after sending the coins away from the newer copy?

One last question (thanks for baring with me). What would happen if I had 2 instances of the wallet open at the same time in 2 different locations, and someone sends me 1 bitcoin. Would both wallets on the network receive the coin?

While I have no plans to keep both open, or to NOT restore my wallet when I get home. I just want to further my knowledge, and try to understand how different copies of the same wallet work.

Thanks for taking the time to read this!

-Ryan

Im still tinkering with it. Ive got it stable with 800 memclock and 820core. Runs flippin hot though! For both the cards. The 6750 runs at 75c and the 5850 runs at 72c once the hash has stabilized. 160khash out of the 6750, and 330ish out of the 5850. Mining bitcoin the 5850 stays about 10c cooler while the 6750 about 5c cooler. I hear that its hotter due to the algorithm?

Ill still tweak with it some more today. I appreciate all the posts! Oh one last thing. You say version 2.6 for litecoin? May I ask why? Just curious

-Ryan

I hear ya. But I can't do anything about it until I have the funds in hand anyways

I did order a Jalapeno a few weeks ago though. At least I will have SOMETHING by the end of the year hahaha. But I don't think it will be much different than what a CPU hashes right now by the time I get it

I heard about bitcoin back in 2010. Didn't pay it much mind back then. Honestly didn't fully grasp the idea, nor understand it. Bitcoin? Huh??

Ran across it again doing a search for something random. Dug a little deeper. Things started unfolding. A light bub lite up, and I started my journey.

Only been at this for a month. But in this month I have done nothing but live and breathe bitcoin every waking moment. Still much is needed to be learned

This truly is a revolution I want to be apart of.

I was seriously considering going with bASIC instead. I like the way Tom operates. The only reason I jumped on the BFL band wagon was because it was the first ASIC I heard about. Being I cant order just yet, I do have time to figure out which direction i will take.

I do appreciate everyone's comments!

The journey continues!

Oh thanks! I missed that oin their forums. Will fix it now

Ill need a lot of it! hahhaa thanks!

Still have not pulled the trigger yet on an SC single (I can't until the end of Oct anyways financially speaking). I find myself in constant battle with myself. All the while trying to take in as much information as I can about bitcoin. I am constantly asking myself, "Should I, or shouldnt I buy one? Will one even cut it?" But the fact remains even buying 10 would still need to pay themselves off. Ten isn't going to make that happen any quicker than 1. Your volume goes up, but so does the investment.

So far Ive come to this conclusion. I would be much more upset at myself if I didn't buy one, and they proved to have a semi decent return (even if it took 2 years to pay for itself). Rather than if bought one, and it was a total bust. A crappy investment I can deal with. Kicking myself on a daily basis screaming "Why didn't I get involved!" would be much worse to me.

Another way I justify it is looking at it like pre-paying some of my current monthly expenses. Whatever it returns I will just put towards regular monthly bills. I dont look at it as a way to go out and buy a Ferrari in 6 months, but Im sure a lot of uneducated newcomers think that way. I also believe profitable mining is something that should be worked up too, rather than getting involved because you want to make a quick buck. When I first found out about all this, I was eager to jump the gun. I was convinced I would be a rich man buying a Jalapeno hahaha. But of course, thats not the case.

In the past 3 weeks, I have lived and breathed bitcoin. Learning as much as I can, but also being very cafeful with all the information I interpret. Ive proven to myself what I believe to be the true, isn't always fact. An example being my misconception of the Jalapeno on day 1. Since then, I believe to have a pretty good grasp on the concept of bitcoin. I've gone over flow charts history, read about its ups and downs, learning some technical aspects, understand security, and much more. But I also feel I have barely grazed the surface. Sill much is needed to be learned, but I love doing so.

Currently all signs point to yes, for buying a SC Single (or some ASIC anyways). I'm want to be apart of this world more than anything, and mining seems like the part I want to be involved with the most. I love the exchange, and have played around with it a little. Mainly with Litecoin to Bitcoin - just back and forth. I've seen how the market is very very volatile. Currently I dont believe anyone truely knows what the market will bring with absolute certainty, but some sure think they do . We can all follow trends, but that can be a crap shoot as well. Whatever the case my be, I love all of this. Im getting very close to pulling that SC trigger. To be honest, if I had the money this second I would buy one . Sorta glad I don't though. It allows me to continue learning without making any drastic decisions. While I understand the people who are the first to get them will yield the highest returns, I've already missed that ship. Nothing I can do there. But ultimately to me its about growth, rather than quick returns. I'm in this for the long haul. I don't look at this as big fast money one bit. I believe the people that do will be in for a big surprise once they get started. As I stated above, mining is something that will grow with the individual over time. At least thats what I think anyways. But hell... WHAT DO I KNOW!!?

Anyways, I just wanted to share Ill hopefully be joining you miners at some point. I suppose I already am mining, but its slllloooowwww.. 500 m/hash doesnt get you very far hahaha. One things for certain though.. It sure does heat up my apartment! May turn off my propane this winter, and just mine for heat hahahaha.

Thanks for reading

-Ryan

Yeah... I hear ya loud and clear there.

decisions decisions

Well my bets were super small. 2 ltc, and then I did a test .2 ltc when the first one didnt come back. Ive bet a few other times, and everytime it came back within minutes. Not this time though. =/

Yeah, its been over a day for me now. Both bets were never returned with a win nor lose. =/

Alright ty

Sent 2 transactions today. It's been 40 mins now, and have not received anything back on either of them. Not even a loss confirmation. Was working fine last night. I'm using the same wallet that was working yesterday, so I'm not sure what the issue is. Did a small transaction from my mining pool, and that came through fine.
 

Me too! Love this pool! Thanks for having me!

So... 475 Terahash increase?! Damn man, when you look at it like that it makes buying just one SC single almost pointless. Hell the Jalapeno would be like what a CPU does today. It seems unless you have 10's of thousands of dollars to put into this that mining isnt even worth it. And even then, how will the people that spent that much even be able to get a return on their money. I wanted to buy a SC single, and had plans to at the end of October, but seeing it laid out like this almost makes it seem pointless. The hash rate currently is around 21 terahash. So if we divide this 475 terahash estimate by 21(today) we get around 22. The network will increase 22x in speed judging by your those speculated numbers. So if I take what 40 g/hash yeilds right now and divide by 22, I can get a good idea what a SC single will do. So lets see. 40g/has today gets you 14 bitcoins a day. Divide by 22, and we have .63 a day.

Is my math rigth here, or am I just completely wrong? Im still very much new to all of this, so it wouldnt suprise me if I am looking at this completely wrong here. But .63 bitcoins a day for a device that costs 1300 bucks seems pretty dangerous. Not to mention the blocks are sliced in half. Does that mean .3 a day from an SC single?!!

Someone who has more knowledge than me chime in here. Am I right with this analysis? I hope not... =/

-Ryan

I suppose the value in the coin could go up a lot. Following other flow charts it seems to follow suit with difficulty increases. Maybe better off just buying the coins, and hoping it follows suit with its past history.
 

Yeah im not using crossfire at all. I didnt think I could with the 2 cards I do have.

Im gonna tweak with it a bit more today, and see what happens.

Thank you all for the responses!

-Ryan

Fantastic info man! I did not know that. I did however notice my hash drop A LOT when I changed my memory clock. I got so tired of toying with it yesterday I gave up. I was at it for a few hours trying to figure out what the main problem was. I can always get it stable at around 250 mhash, but nothing higher. Ill try toying with the memory clock more today and see what happens. Thanks again!

P.S. And yes thats about what I get on my 5850 (Asus I believe) mining bitcoin as well. Just gotta sort this Litecoin issue