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following this thread so in case anyone posts a good service
robertvo do you use the same strat for silver/gold?
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how do you find your key to give to someone to receive coins from within your wallet? I just keep looking in my pool keke
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I've heard people talk about the difficulty corresponds with the price, but if the price drops the difficulty stays the same or continues to go higher right?
No. Difficulty only depends on the total hashing power produced by miners. If there are more miners, or miners use more powerful equipment, the difficulty goes up. If there are fewer miners, or miners use less powerful equipment, the difficulty goes down. The only connection between difficulty and price is that when the price goes up, this makes mining more profitable, which encourages more people to mine, which drives the difficulty up. The reverse happens if the price goes down. This is only an indirect link, and short-term fluctuations in difficulty and price are almost certainly not related. gotcha, thanks for that. |
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is there some way to verify the validity of these asics?
i.e. when I was reading the avalon forum and dudes were saying "OMG IM GETTING 50 GHASH from my tiny little device". I started thinking well if that's really the case we should be able to measure vs the networks total ghash rate and expect it to dramatically rise right?
if it's true wouldn't the difficult raise so much almost overnight that all the GPU miners will just turn off their systems as they will no longer even be able to generate electricity costs?
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So if we add alot of these ASIC miners to the network and the hashrate doubles then, any miner but the big ASIC is going to be
screwed over by difficulty?
You are correct. GPU mining will never even come close to paying off the cards once a few hundred of these make it out the door. A few more batches and a thousand or two ASIC systems will make GPUs not even worth the electricity they cost to run. The same thing happened to CPU miners back whenh GPUs started showing up. wahh that's what I'm afraid of - I was reading a thread that Avalon asics have already shipped and people are mining with them. If that turns out to be the case buying 2 new rigs in the last 2 weeks probably won't turn out to be the best idea T_T |
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that was great, I'm switching to linux
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have been wondering the same thing myself, seems to be some contention about it. You should checkout the hardware sub forum some good threads there. A lot of people do it but some people say could be bad for the life of components - no idea of the validity of that personally sozzle
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so is mtgox just the most popular exchange out of a whole bunch?
is bitfloor also an exchange?
thanks
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let me guess, you need someone local to help you find a lawer? oh thanks for teh help, oh now you need some monies to pay for it? but it's cool cause you will give them back over 9000 bitcoins in return.
also, your friend is a Nigerian prince
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I'm a newbie also but that's the big question. Some things that reassured me towards it being a scam and still buying some GPUs for minging were;
- I saw a thread about the founder being a con-man
- if it seems too good to be true, it probably is - why would they sell their devices if they could just mine with them?
- this whole preorder business / you will get dispatch based on queue priority blah blah seems congruent with fear and greed based marketing aka a con
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just get a 7970 or 7850/70 if you can't afford
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Back in my day, almost any dingbat with 8 AMD cards running on a folding table could mine profitably with $2 coins. When we weren't running profitable (if assuming immediate cashout to fiat), we still kept running, because way back then, people talked about different ways to use Bitcoin rather than using it to gamble against USD/EUR/etc, so we looked at it as a long-term investment.
You kids these days want everything handed on a silver platter. Back in my day, though, Faygo cost $1 per 2 bottles. I went to Walmart yesterday... $1.19 per bottle! What the fuck, man! Faygo's a ponzi, and I'm too late, and I don't even like Faygo, so...
... What were we talking about?
well played. OP needs to think about scale. You talk about people wasting their time on Bitcoin, but you've clearly made up your mind and yet you're still here wasting yours. |
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just getting into Bitcoin and wondering the same thing.
I've heard people talk about the difficulty corresponds with the price, but if the price drops the difficulty stays the same or continues to go higher right? I just bought heaps of GPUs :p and love it so not too worried, but the thought has crossed my mind re the cost of elec being greater then the coin amount mined.
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Heyas all,
knew about Bitcoin ages ago but stupidly only really looked into it recently after all the hype.
Love hte concept, started with a 2 card hybrid gaming rig but now have 2 new open air rigs
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