Hi Guys
I have been looking at the BTC project for a while now and decided to start small...
I started with a GPU generating 227mh/sec running with 7 days with minimal failures earning a total of 0.00002243 BTC. I'm connected to the Slushy pool.
I have now purchased a Antminer U2+, using bfgminer 5.xxxx and i'm currently running at average of 2.3gh/sec from my basic calculations this does give me approx 20x more hashes.
Obviously if i'm going to invest in further hardware is it worth progressing with AM U2's using a USB hub, is it a worthy project, and how do i know when my calulations fail on BFGminer? I have the command prompt but can only decipher a few details.
I know starting a project like this is not profitable but an interesting "potential" investment for the future.
2.3 GH/s are 2300 MH/s, so you've now got about 10 times the hash rate than before. You may look into buying larger miners. Maybe the new ASICMiner tube. They're in stock and have a lot more power. Also, they're much more efficient, they use less than 1W/GH/s! ASICMiner is good and legit, but the minimum direct order is 40 hashing units which is 200-215GH/s each, ie. 8TH/s total. https://bitcointalk.org/index.php?topic=735728.0For smaller order, you may consider CanaryInTheMine's GB. https://bitcointalk.org/index.php?topic=735982.0 |
|
|
|
Indeed it is huge, not just this forum, but the world of BTC. So many directions to go in. I'm reading up on a lot of stuff and slowly getting an idea of where I want to go with my little bitcoin adventure  True that it is not easy to understand bitcoin for newbies, but the good thing is you don't need to understand every aspect of bitcoin in details to use it as a ordinary user. The most important things are to figure out how wallet works (change, backup, safety, etc.) and how transaction works (confirmation, tx fee, etc.). |
|
|
|
|
Different wallets have a different selling point, and so it is hard to say which one is the best.
It really depends on what you want the most (eg. user-friendly, safety, features).
|
|
|
|
Hi everybody, i'm new to the forum, and actually i've been reading topics in this forum and all over the web and this is my first move lol
i'm realy interested in BTC, i'm in high school so of course i don't have much money lol but it is realy interesting, as well as THE friedcat concept wich i'm realy wanting to know and read about for potential investment of something like that, actually i'm from africa and i need a little help to star in this huuuuge field.
so welcome to me again lol and realy hoping to know people and getting some help.
Welcome to bitcointalk. What do you mean by "The friedcat concept"? I only know that friedcat is the founder and CEO of ASICMiner. |
|
|
|
|
Very likely some of your bitcoin is now in your change addresses.
If you are using bitcoin core, you can click "Help", "Debug Window", "Console" and enter "listunspent" to see which addresses your bitcoin is in.
|
|
|
|
Cloud mining isn't profitable at the moment but nobody knows if it will be in the future,
my advice is to invest your earning in bitcoin and hold them for the long term.
Got that man..The thing is where to invest? IMHO, just buy some bitcoin with your spare money, keep it safe and wait for the bitcoin price to go a lot higher. Don't invest more than you can lose, as you never know if bitcoin price will go up or down. |
|
|
|
Paper wallets are not a good idea. When starting out you should use a desktop wallet for larger amounts. Later on you can use offline wallets from armory or electrum. But with paper wallets you will have to worry about change, sweeping vs. import, securing the private key etc. Paper wallets are easy to get started with but hard to spend from securely.
I have no idea, what you are talking about. What is change, sweeping vs. import, etc? I thought, if the wallet was created securely, it is offline. So nobody can get to it. Now, you have me totally confused. Say when you have one piece of 1 btc in your wallet and want to send 0.5 btc out, you will need to spend the whole bitcoin and get 0.5 btc back in your change address (could be a newly created address or an existing address in your wallet). FYI: https://en.bitcoin.it/wiki/ChangeAfter you imported your private key in your paper wallet to your online wallet, the paper wallet should no longer be considered offline. You should create a new paper wallet for safety. |
|
|
|
What do yo use? For me, I use localbitcoins and btc-e mainly for buying some bitcoin. |
|
|
|
|
Username: BunsenBurner
Thanks.
|
|
|
|
|
Username: BunsenBurner
Thanks.
|
|
|
|
|
Username: BunsenBurner
Thanks.
|
|
|
|
Received the payment. I am in for another month. Posts: 466 Bitcoin address: 1HdREW1ngfKb1FRawMr1nku4srMBXoGSDn |
|
|
|
|
Username: BunsenBurner
Thanks.
|
|
|
|
In summary, in terms of safety level, offline wallet (best) > hot wallets running on your machines > blockchain.info wallet > exchange wallets (worst)
It depends by the security knowledge of the user, a casual Joe with an obsolete Windows OS who installed some cracked programs/games could be the worst of all. If the guy has a keylogger on his pc, all his bitcoin on a hot bitcoin-qt wallet, blockchain.info and coinbase will be gone very soon (assuming he has no idea what 2FA is).  |
|
|
|
Blockchain.info is cool though, because the site owner doesn't have access to the private keys of the users.
That is not entirely true. The blockchain.info wallet is code that runs in the browsers, if it can work with your bitcoins after you've unlocked your wallet, and they provide the code, then it stands to reason that they can modify the code to take actions using your private key after you have unlocked it. Or simply, they can change their javascript to be malicious. It is still a trust based service. Or their server could be hacked and then give you malicious code and steal your password for decrypting the server side wallet file. The important point is that online wallets are less secure than desktop ones, but at the same time not all online wallets are created equally. Some, like Blockchain, publish their in-browser code as open source (on GitHub) and do not do any private key handling on their servers making them somewhat safer. Others store your private keys on their servers, making the service more PayPal-like than Bitcoin-like. You could lose your Bitcoin in either scenario, but the former (Blockchain-style) service is the safer of the two. That's true. In summary, in terms of safety level, offline wallet (best) > hot wallets running on your machines > blockchain.info wallet > exchange wallets (worst) |
|
|
|
Thanks, do you know how I would go about it? I've searched some videos on YouTube on how to get it out but it doesn't seem to make much sense to me.
You can use "createrawtransaction" and "signrawtransaction" to create and sign the raw transaction twice (with your two keys). You can find a very long and detailed step by step walkthrough in the following post. https://bitcointalk.org/index.php?topic=468334.msg5178588#msg5178588Please double and triple check the transaction before pushing it. Please be extra careful that the difference between inputs and outputs will be considered as tx fee. |
|
|
|
Well since BTC is being legal tender in california I'm looking into way to profit off this big move such as ideas/mining/owning my own currency exchange building mabe in sanfran.
Personally do you feel i should just stick to what i normally do, or should i put up some money i can spare into a bigger project?
If you have the capital and ability to create and run a new exchange, you can do it but it will definitely be a huge, difficult, risky but possibly very rewarding project. Bitcoin mining, on the other hand, isn't really profitable from my point of view. |
|
|
|
Now I`m testing seven of twenty six Antminers S3, with seven different pools in "failover" mode. Please take a look and comment.  Did I miss something here? Shouldn't the Antminer S3 hashrate be around 440 GH/s? Why are yours just slightly above 200 GH/s? |
|
|
|
We just re-crossed 600 from the mid 585.
Tighten your seat belt, the bull has returned.
Now again its going under 590$ but best thing its most of time staying in 590$ Seems to be in a narrow range for quite some time now. The price has been pretty stable in the current price, and we now need to have a big good news to break the $600 resistance (or a bad news to go below $550). |
|
|
|
|
I am going to continue earning bitcoin from sig campaign, and 2 btc looks pretty doable to me, unless bitcoin price goes 10x higher and sig payment goes 10x lower in terms of btc lol.
|
|
|
|
|
Show Posts
