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solo mining is of course not realistic with sub 1GH. But mine at a pool, why do you care what your speed is. As long as it is efficient power usage. No less than 1MH per watt used, you'll be profitable.
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You guys in the USA have pretty low rated installations. This is why we hate 120V  I could of easily run 240V (double-pole) 30A circuits from my breaker but instead I did the equivalent of three 120V (single-pole) 20A circuits that a single 240V 30A circuit would of handled with the same gauge wiring. -- I basically put in nine 120V 20A circuits in the end in which I could of just done three 240V 30A circuits. For a total of 21.6kW-rated, or 17.28kW @ 80% capacity. (Homes in my area have 200A service). We get 240V delivered to our homes in the U.S., but U.S. consumer products requiring power are generally 120V. Generally only large appliances in the U.S. (e.g. clothes dryers) run off 240V. I was going to run all the mining rig's PSU's at 240V, but decided against it knowing the sooner or later, unless I change the outlet type to something other than standard NEMA 5-15P, I'd end up plugging in a 120V-only device into 240V and instantly fry it... Ended up being more cost effective to just buy the extra Romex and 20A breakers at $2.96 USD a piece then changing out all the AC plugs to 240V plugs. Cheers, Kermee "could have" or "could've" "would have" or "would've" |
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I plugged THREE 1200W PSU into a 15amp circuit(or is it 20amp? I'm not sure, haven't looked), without issue. Each one usually draw 800W at peak mining usage when monitored with a power monitor. When I plug in the fourth one though, the breaker flipped out.
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If he's using paypal, he WILL get his money back if he initiate a dispute. A lot of paypal transactions are later reversed by the buyer, it's like a 100% no risk way of getting free money.
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Keep in mind that there are people out there with more than $100 billion dollars, Warren Buffet for example. He can at any moment, use 0.1% of his money to boost the bitcoin market to $1000+ per coin. So hold on to your coins.  |
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Can we have an option to change the language on the fly please? I am on a Chinese language windows7 system, so all my Chinese software would work flawlessly, but I prefer my English software to be actually in English, because the translation is often horrid(and the Chinese translation for bitcoin client is really confusing). Right now, I delete the zh_cn folder, each time the program updates, and it's a chore.
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checkout mtred.com, zero fee, reasonable total hashing power
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people are watching and examining deepbit like hawks, I doubt deepbit will do anything fraudulent. Plus why would any established pool destroy their own investment by destabilizing bitcoin network? the reward is tiny vs the potential loss. What we need to watch for is if any non-established source has control of hash power over 50%.
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Sapphire by far makes the best reference cards. But best OC performance comes from cards with non-reference design cooling system
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you have to look at stales, too. i've been getting about 4% stales on btcguild, but since i like its frontend the most, i sticked with it. now that it's being ddos'ed, i've switched back to btcmine to see my stales drop to 0.5%. i guess given all this i'll stay at btcmine. seems like larger server equals a lot higher stale rate. i love how they close registrations when they think their server can't handle any more miners. they don't seem to be too greedy.
I agree, although btcmine's frontend isn't great, it does have a consistently low stales rate for me too. |
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HD6870 with an aftermarket cooler so you can OC it a bit
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GREAT NEWS!!! Now it's cheaper than mtgox
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I just discovered Bitcoins a short while ago, and I would like to able to mine a little too.
I am not thinking about farms, just to upgrade my PC and mine, and try to earn back the money from my investment and maybe get a little profit. Is this realistic right now, or truly I am too late to start mining?
No I don't think you are late. However, at this point you have to have good rig design + cheap electricity. If your electricity is higher than 10c/kwh then definitely don't even bother mining. You'll probably want a rate around 6-7c/kwh. You'll also have to do some research into which setup is able to convert electricity into hashes at a high efficiency. Also factoring in cost of equipment. this is true if the current price of BTC holds ($15-16) but if the price moves up in response to scarcity resulting from higher difficulty, then BTC mining will be potentially as profitable as it has been up until now. personally i believe btc are way undervalued. but, if i am right, then it might be simpler at this time just to speculate by buying up btc. How long have you been mining? for the millionth time, PRICE DOES NOT MOVE IN RESPONSE TO DIFFICULTY, the only thing that determines the price of BTC, is the people's demand for it. |
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My guess is that because mtgox system doesn't really sell you every BTC at the exact price you have entered. For example, when you trying to buy 10 BTC for $17, it can execute like this:
5 BTC @ $15
5 BTC @ $19
So they still average out to 10 BTC @ $17, but the trade history display them as $15 and $19 trades
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they are not suppose to as they state "we are never a counter party to a trade on mtgox"
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Eventually price will go up since your mining will take longer.
Mining will always be profitable.
The only that is still a issue is the 2 week reset lag it has.
Mining difficulty don't mean sh*t for BTC pricing, only real demand (speculation or not) determines BTC price. Mining difficulty simply lag the price for a few weeks, though it will FOLLOW the price, not the other way around. Price will not follow mining difficulty. |
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I disagree, we will never see 10M difficulty, as long as BTC price stays below $20. You have to remember difficulty is a lagging indicator of BTC price, we already see that difficulty has leveled off, at the current rate, the next difficulty will just be a 10% jump, and then it's possible that we will be seeing a difficulty decrease (IF price stay below $20). The problem I see in all of this analysis of bitcoin mining is that you cannot predict the price of BTC that you need to sell to pay for your mining costs. I'm mining with 6950s (stock because I ended up with cards I can't unlock the shaders on - oh well  ) I'm getting around 355MHash/s each (900MHz which is as high as I can go locked) Right now at ~$15/BTC and paying .1/kwh in electricity, mining ceases to be profitable at a difficulty of 10000000 for a single stock 6950. That's over 7 times the current difficulty! Are we headed there? Yes we are. Will BTC stay at $15, crash to $1 or go up to $100? Nobody knows. But right now? I'm earning $$$ to pay off my rigs, and at the very least should be able to recoup enough to break even if I sell my stuff used. But if I pay the rigs off, then it becomes a pure equation of power costs. So will I pay off my rigs? Only time will tell and it all depends on the market and $/BTC. But lets say difficulty skyrockets in a month's time and profits vaporize. We actually see a drop in network processing. Then BTC jumps to, say $50/BTC. Miners will pile back in. Bottom line is NOBODY can predict difficulty, GPU advances, or $/BTC. Just like the day traders, mining has risk. As it should be. |
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botnet is MUCH more valuable than being used for mining bitcoin. Using botnet for mining coins is stupid and asking to get caught. Running a contract DDOS business is much more profitable.
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you have to take fees into consideration, only when the difference is more than the fees added together, is worth it.
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i have seen people use difficulty divided by 25000 as a way to estimate a non-market value for btc. currently, that would make each btc worth about $55. i think i will hold onto mine for the time being.
That's a ridiculous valuation, probably pulled out of his ass from nowhere. At $55, you would get 100% ROI in a month, that sounds like a HYIP scam, not a real investment. Even the current $15 valuation is pretty high, miners can pay off their rigs in less than 4 month if difficulty stay at the current level (which it might, since we haven't seen a lot of growth in computing power lately) |
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