A cheap low powered netbook will work well for this. You dont need a lot of cpu power and 2gb ram is plenty. Connect to a usb hub if you need more ports.
I understand we haven't seen the design yet. If we were going to use the laptop, how many USB ports do we need? Each SC will take a USB port?! Can we join SCs together? |
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If you mine with us for 6 months before the price drops below $2.50, you’ll be able to continue to earn the minimum price of $2.50 for the next 6 months
This seems like a complete deal breaker, and a little like a weasel clause. By your own estimates, the price will break below $2.50 much sooner than 6 months from now. By my reading, that would mean the protection is not available.
Is this a correct interpretation?
Yes, sounds like a short term protection. Coinlabs has the monopoly currently in the arena. The GPU miners have no options after ASIC, dealbreaker or not. |
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No. It should be just like current Singles or Mini Rigs or any other FPGA out there, you need a PC to run the mining equipment.
I don't understand. Sorry. So the Single SC will simply be a replacement for the current CPU or GPU? the Single SC will need other components of the PC, e.g. hard drive, memory to run? Thanks |
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You will need a spare PC with spare USB ports (laptops work great for this).
Once configured, we can free up the laptop so the SC can go headless, right? |
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So you're not buying ASICs because the ASICs that come out after these will be faster (by how much, I wonder?). So by that logic, I shouldn't buy a new CPU, because the CPUs in 6-12 months will be faster than the one I can buy today....
"Useless" and "outdated" are two different things. My brother's "gaming computer" from 2008 with its e8400 C2D, DDR2 ram, and Geforce 9800GTX may be be "outdated" by being several generations old, but it's not "useless" as it still playses Assassin's Creed and Skyrim just fine (which is all he wants it to do).
We buy what we have available, and we continue to mine on it until it's no longer profitable.
I just don't like the idea that we have to throw away our hardware after a couple months. If we have other alternative use of ASIC other than mining, then I will definitely take a serious look. |
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$0
ASIC is too specialized. It will only be good at mining bitcoins. Moore's Law, the new generation of ASIC will wipe out the old ASIC so there is an incentive to race to the top... if you don't make back your investment income in time, the hardware will be rendered useless.
At least for GPU, you can use it on your computer, sell it on ebay to other gamers and join Coinlabs (and others tbd).
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Go google BOINC. Basically, universities and other companies can use the GPUs to do intensive work that would take much longer on ordinary processors. They don't need the GPUs all the time, so its cheaper to lease the setup.
I see. It makes sense now. Sounds like the software written for BOINC can not be executed in ASIC and only in x32, 64. Well, without further ado, hat tip to Coinlabs. |
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Is Coinlab for GPU mining only? Or Does coinlab accept ASIC as well?
Right now, we accept shares from any device. We will be transitioning to GPU-only in a couple months. Why transitioning to GPU ONLY if you could have ASIC that's much faster? Maybe that's something on the business side or hardware side I don't understand. I don't have an ASIC machine at the moment. We are just talking on a theoretical level right now. I just want to find out what is the incentive for Coinlabs to have GPU only miners when they can get a much better hashing power in the future. |
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Is Coinlab for GPU mining only? Or Does coinlab accept ASIC as well?
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Looks like I gotta take what I can get these days  LOOOOL A bitcoin is a bitcoin, it's not like you are doing something degrading. Hey everyone, Bitlane is for sale! |
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No more updates? What's the deadline for Matthew's payout then? This is iiiincredible. I bet some folks are way too shamed to come forward on the number of bitcoins lost in this debacle.
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Someone's buying from 9.5 to 10. Sold at 15, and buy back in between 9.5 to 10. I say, pirate is in for some profit (minus the interest payouts)... Maybe not a big one, but he surely is in for the lulz.
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I have ALL of the ammunition. He simply has about $25k USD worth of BTC that he owes me.
It's now time for him to decide if 'the juice' is worth 'the squeeze' ......
FUUU... that's a lot of bitcoins... that's someone's yearly worth of salary, at the service gas station. I hope you are loaded bitlane, have a good job/investment income... throwing a huge amount like that. |
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All I know about GPUMAX is that I need to make a clone / want in.
It is a money laundering dream, pay other miners a small premium over rate in dirty coins to get freshly mined ones put in a clean wallet.
Well thought out! |
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lmao!!!! Little did we know, he bought all the known Cassius physicals. WTG, Pirate of the Bitcoin land.
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Is this for real? Was your account balance exactly 4000 BTC?
No... it was not for real. My point was to prove that the following statement made no sense: Well played sir. So back to square one, no payment has been sent. |
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If you check the map, it looks like its coming from the island that Pirate purchased.
lulz |
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Looks like someone's buying at every dip on Gox.
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