The banking industry can't do nothing about Bitcoin. Think about it. If Bitcoin "died" (will not happen) then cryptocurrency dies too. Crypto = Bitcoin. It's like that. Everyone associates Bitcoin with cryptocurrency. If Bitcoin fails, the whole crypto industry fails. If Bitcoin does good, the whole crypto industry benefits from it.
How does that have anything to do with the Bank being unable to attack Bitcoin? There are a few ways to kill Bitcoin. They could simply brute force their way by getting a huge amount of PH and then doing "51%" attacks. And considering the size of Bitcoin right now, it would be pretty cheap compared to the trillions of USD they could lose over time to BTC. I'm not quite sure if the banks want to ride it out by including BTC in their schemes, but if BTC does succeed, Banks and Governments are going to have a hell of a problem dealing with it, even if they outlaw it or tax the fuck out of it. I do not think a bank or government may attack on bitcoin in any ways. As long as we do not need bitcoin to be converted in to fiats, then no force will stop bitcoin evolving. You buy and use bitcoin. No one can do with your actions. When everything available for bitcoin, it would be the new government with no rules. Governments already are... Heavily taxed like Brazil. Or illegal, like Russia. Just have a quick look at this list, there's a list of sanctions and actions taken against Bitcoin as whole by Country here; https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_countrySo expecting Bitcoin to be immune to Governments... you're in for a bad surprised if Bitcoin start getting bigger, because the attacks will get bigger as well. |
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Ah yes, onto that now. Exactly how many bitcoins should I be expecting?
Zero Even with a pool? Not even a satoshi? Zero.zerozerozerozero....fewthousands A few thousands Satoshi per months. So yes. Zero. You will put heavy strain on your hardware, waste tons of electricity, for Zero Bitcoin. |
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So I'm a little late to the party but have a few newbish questions I hope someone doesn't mind me answering. I've had a search on the forum and on google but can't seem to find the answer I'm looking for. I have an Antminer S5, overclocked and draws 660w from the wall. Can I use a two dual PCI-E cable to power both boards? Or is 330W too much to put through a cable with 18AWG wire? I've seen alot of people using the dual cables, but not sure if they're overclocking, underclocking etc, so thought it safer to ask the question before I have an accident. The reason I ask is that I've been using my PC's PSU while a CX750M was on order. My computers PSU is semi modular so already had two PCI-E power cables already connected which I plugged into two of the inputs on the S5. I then connected up two extra pci-e power cables for the remaining two inputs on the S5. The PCI-E cables I have are 8 pin at the PSU end, and 6 at the other albeit two pins on the 8 pin connector are empty. The CX750M I have on order only has two 8 pin PCI-E sockets and four 6 pin PCI-E sockets. All my PCI-E cables have 8 pin connectors at one end, so it appears the only option at the moment is to use two dual 6 pin PCI-E cables. Or can I buy some cables to make use of the 6 pin sockets on the PSU? Thanks in advance (newbie, be nice  ) Its really recommended not to do this with 18 AWG, good evga dual connector cables are 16AWG. The safe current for a double cable of good quality, 16AWG is 2x190w i believe, or 380watts. But anyways, you can try it, plug it in wait a few minutes, the cables should get warm and especially the connectors, that would mean its dangerous to let that run. And for adding cables to a modular PSU, as long as those sockets are also on the main rail, it will work fine. You can use strait 6 to 6pin custom cables for that too, they're pretty cheap and you can get good ones here on the forum. |
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Remember to set your cold wallet as "only read" when you connect it to internet for updating...
I fail to see how it would help. A malware can still infect your computer and capture whatever information needed. Or in theory could damage the randomness ot signing of your transaction. (It's in theory, not sure if possible) Recently I set up cold storage for my funds. What I did was I set up a spare Raspberry Pi and I installed Electrum onto it which acted as the storage its self.
Since I have the addresses on my main PC to send the funds to, I don't intend to turn on that Raspberry Pi until I need the funds out of that wallet.
There isn't a need to connect it to the internet unless there are protocol changes on the signing of the transactions. You can download the transaction from an online computer and sign it on the offline computer then broadcast it on the online computer. And if that even happen you can update the software offline anyways, pretty much the same way you plug your usb key from one computer to the other to sign the transaction. All in all Armory is indeed very handy. Which is the one i would use to do this. |
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Hello,
Whenever I try to mine on Eligius or solo using GUIMiner, I get these errors:
[Errno 10061] No connection could be made because the target machine actively refused it
IO errors - 2, tolerance 2
[Errno 10061] No connection could be made because the target machine actively refused it
IO errors - 3, tolerance 2
No more backup servers left. Using primary and starting over.
These all repeat constantly. I read somewhere that you have to press the "Launch Bitcoin client as server" setting, however this does not work as I do not use the core Bitcoin client. I use MultiBit HD. Am I missing something? Must I use the core client to mine?
Thanks.
You do not need the core client to pool mine but, yes, to solo mine you must have the core wallet on you computer or network. What about mining using Eligius? Are you trying to mine bitcoin? With a GPU? While yes you can technically do so but, you will spend more in electricity then BTC you earn. You will never solo mine a bitcoin block with a GPU. The difficulty is far, far to high. Yes, I understand that, but can you just answer my question please? Can I mine on Eligius using MultiBit, or must I use the core client? Maybe you don't understand what Eligius is. It's a mining pool. Sorry if I'm being rude. Dont worry, it sounds like you may be getting frustrated. Confusion does that, I understand.  Sorry I dident answer. Please allow me to try. Eligius is a mining pool. You do not need any wallet installed to pool mine. Only mining software like guiminer. From the error, it seems it cannot connect to Eligius. Can you post what settings you have? ( host/server, port ) and we will go from there. Erm, I'm not sure. GUIMiner isn't telling me as it has set it all up automatically. Gimme a sec and I'll figure it out. Er, now I have the settings, but as I set it up myself I now have different errors too. Errors first: 2015-10-31 14:26:01: Running command: poclbm.exe 1NfHAwsVpBpY4ygsNmTAb77SX3GJJDKrhs:x@ stratum.mining.eligius.st:3334 --device=0 --platform=0 --verbose -r1 2015-10-31 14:26:01: Listener for "Default" started 2015-10-31 14:26:01: Listener for "Default": 31/10/2015 14:26:01, need more than 1 value to unpack 2015-10-31 14:26:02: Listener for "Default": WARNING: ADL missing (no AMD platform?), temperature control is disabled 2015-10-31 14:26:02: Listener for "Default": 31/10/2015 14:26:02, started OpenCL miner on platform 0, device 0 (GeForce 9600 GT) 2015-10-31 14:26:02: Listener for "Default": 31/10/2015 14:26:02, checking for stratum... 2015-10-31 14:26:05: Listener for "Default": 31/10/2015 14:26:05, no response to getwork, using as stratum 2015-10-31 14:26:10: Listener for "Default": 31/10/2015 14:26:10, IO errors - 1, tolerance 2 Settings next: Host: stratum.mining.eligius.st Port: 3334 Username: My Bitcoin address, as it should be. Password: Irrelevant, Eligius doesn't need one. Oh I think I see the problem. You have an Nvidia GPU. You need to use cudaminer. I am not sure if guiminer supports cudaminer. If my memory serves, you might see it under the New Miner menu. If you do, create a new miner using cudaminer. I'm guessing OP will need ccminer, but i don't really think there is any point mining Bitcoin with a GPU. http://ccminer.org/ |
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If the person held 2 BTC, it would have already been worth ~650 USD, i.e. he would have made 250 USD by doing nothing.  And a lot of us are good at doing nothing . I want to see S7 prices when it comes back. People at beginning were buying at 230 BTC now it is 330. That is a huge difference on buying a miner. If they don't raise it the ones buying at 330 will be getting a much quicker ROI. I really wonder too. But am i the only one that's wondering if they won't just mine with their future batches, at least while the profitability is this high, instead of selling it? The income they produced when they came on sale has now went up by 35%~. Running them themselves just got a whole lot more lucrative... They can just run them, then sell them on their Cloud Website, and then bam if it devalues they lose nothing. If they raise, they gain everything. Hah. |
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WTF. 8 pics in a few minutes. +3.26% to + 3.50% DanielRo If Bitcoin price will rise day by day we will be over 5%. But who knows  . This has gotten very popular +4.76% to +5.00% VirosaGITS |
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*was to long
If the BTC price would still go up, then more miners would get onlined, but profitability per miner would remain the same. More miners would mine Bitcoin until it is no longer profitable to add more at the 0.01$/kWh. Then when BTC go down, people would probably still mine at a loss and just sell when it go back up.
So difficulty would not change much or at least, not quickly.
Diff up and diff down would probably become speculative on the BTC trending price.
But you can't say how much BTC price would go up. You are making a fictional situation that will not happen. BTC price remaining same or going up same amount, and difficulty remaing same where people don't make new gear... its far fetched. Look at price on BTC it went up 100 dollars each on value pretty recent. You just cannot predict all factors and there will not be a normalization where all asic makers stop making gear. Your idea about what would happen if we didn't have new gear is again fictional, BTC companies are in a arms race and will continue to make more and more efficient gear. I'm not talking about predicting or a fictional future in a impossible scenario. Its an example for what i'm saying to make more sense; It does not matter if the price goes up or down, the rule still apply, no matter what. All i been saying is that the only reason we need to get more efficient hardware is because others have more efficient setup. If there was no such thing, then we would not need to "arm race" in the first place. On the bright side, at one point we'll have reached the technological edge and the "arm race" will happen at a much slower speed since productions cost will outweight the benefits. |
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Does my Latency matter where I mine? Lets say my current pool gives me a ping of 100ms but a node closer to me gives me a ping of 25 ms should I which to node mining? Does it even really matter?
Very little, if you are paid for the share submitted, it has a negligible impact. When the block change and the pool ask you to dump your work and start on the next one, a lower MS would be "better" but its insignificant. If you are solo mining, it can be significant, if you have a bad connection it may take more time to propagate your block and someone could beat you to it if he happen to find the solution at the same time. If my pool is having a hard time finding a block what should I do in general. Wait it out or switch to another pool? How long should you wait before switching to another pool?
Thats up to you. Personally Kano is having a rough time for a long time so i split my hashrate and put it on a big pool for more stable payouts. With a small pool, it will merely take a longer time for you to normalize your returns. |
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Yes, you need a PC running the wallet for whatever coin you wish to solo mine. Download that wallet onto a PC and let it sync.
Then you will need to edit the .conf file slightly. I am on my mobile right now or I would copy a .conf file now. I will do so soon. But, get the wallet downloaded and get it downloading the blockchain (aka syncing) because this could taje a long time depending on the coin, number of peers, and ypur connection speed.
May I ask what coin you are going to try soloing? Bitcoin?
Thanks ! yes bitcoin and i have QT wallet downloaded and synced on a MAC. what mac? what is your internet service? why do you want to be alone for solo? your chances are less to mine solo alone then to mine in ckpool in both cases you get the block ckpool charges .125 btc your chance of losing the block due to your in house setup are much higher then ckpool's chance of losing a block. ckpool has hit 112 blocks and has 0 orphans Yes, i tried to explain that in my first reply, however OP seem to want to do a completely solo independent setup. I respect his enthusiast and i suppose if he is not really trying to hit a block, it does not matter. However ckpool would probably be better for so many reasons. he need a solid internet connection he needs a good mac lots of ram an ethernet cable to the net not wireless. the 2012 mac mini with a quad core and 16 gb ram an ssd say 500 gb size 2 cloned backups of the ssd--------really 3 macs are good for running a node since cloned back ups will allow you to recover the wallet on the current mac and on an exact same mac. I run a node on a 2011 mac mini but i don't mine on it I know my clones work as I boot with 3 different ones 1 time a week and all have the same wallet just out of sync a bit. which is fine for wallet backup but can not be trusted as much to work for solo mining. That is wise, to not mine on it, you can for fun, but its more efficient to mine on CK Pool. It would be much better use of a 1th~ miner, if you want to really do a solo setup for kicks, you should use a Sidehack stick for that or something, the Avalon should be pointed somewhere wiser. Personally just the upside of having the pool track my hashrate and accepted share is worth the 0.5%~ fee. |
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Ok, for some reason I can't flash my miner. I browse to the file, attempt to flash it, wait for it, the screen times out, then I refresh and get this error:
System Upgrade Failed
tar: invalid magic tar: short read
So something just ain't right with it.
I'm using the SD-S7-20151023-600M.tar file downloaded directly from bitmaintech's support site. Anyone else having this issue?
Are you targeting the .tar or the image file inside? Just to be sure; you need to target the .tar file, still compressed. When i uncompressed the .tar is the only time i saw that error. If not redownload the .tar, it could be incomplete archive. You could try to uncompress it just to see if its valid, though. |
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Are there any decent 2nd hand USB sticks available on eBay. If i was to get two sticks and a powered hub. Is this all i would need from a hardware side to get started. Thanks for the help everyone
The only USB stick you should be buying currently is the Sidehack GekkoScience usb stick. Goes up to 20GH/s. But you will also need y splitter since the powered hub's sockets itself can't handle the power draw. Personally i run it mildy clocked at 225hz and i get 13ghs~ If you want some actual hashrate however i'd go with a pod or maybe a old Antminer S1 depending on your electricity costs. |
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is blackcoin's pos requires you to be online at the network for earning interest,minting ?
Yes, you have to have your client open and leave your computer on, of course. All POS coins work this way. They call this minting, forging, harvesting, depending from coin to coin. Running it on a Raspi, unless you keep your computer on 24/7 is typically a good idea to save on electricity costs. Either that or you could rent a VM on a server and run it there, which is pretty easy to do. Just remember to keep a backup of the wallet no matter what. |
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I think you would need to bolt your miner down and even then they might break apart due to the pressure xD |
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It probably is not wise at this point to use Bitcoin to invest for your retirement. If I were you I would look into a retirement savings plan. Since Bitcoin has only been around for six years, we can't say for certain where your investment will go. If anything, it will be lost in the next few months.
No but its nice to dream and if you bet 10BTC on being at 10k in 20 years, its not that much of an investment now and 100k for retiring is a nice bonus. However there are probably better things to do with your BTC than hold them for 20 years. |
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Well from what I've read plugging in a pcie 6+2 connector into the cpu slot (on the psu) will fry whatever your connecting.
You would have to verify the pinout. If you change the wiring so that +12v go to +12v and ground to ground, there should not be any problem, assuming the cpu socket is on the main rail. Seem risk prone. I think the best way to save a socket would probably use perif to molex, then use a 2x molex to PCI-e adapter to power the controller. I would not do this to power a blade. |
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No smell of burnt parts, i have successfully ran other miners on these cables, the only thing I can't test is to see if the LAN Port is working, its lights still illuminate but i get no response from it. Checked the chips, no sign of swelling. I disconnected certain cables and the miners fan ramped up, but after reconnection they would return to idle speed. I'm wondering, would a WiFi antenna work?
I would put more time observing the controller than the boards. If a boards or both boards dies, you still get "access to the miner", you will just not have any hashrate. Wifi do work, however you need to set it up on the miner prior, since open wrt cannot automagically connect to your router's wifi. |
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Yes, you need a PC running the wallet for whatever coin you wish to solo mine. Download that wallet onto a PC and let it sync.
Then you will need to edit the .conf file slightly. I am on my mobile right now or I would copy a .conf file now. I will do so soon. But, get the wallet downloaded and get it downloading the blockchain (aka syncing) because this could taje a long time depending on the coin, number of peers, and ypur connection speed.
May I ask what coin you are going to try soloing? Bitcoin?
Thanks ! yes bitcoin and i have QT wallet downloaded and synced on a MAC. what mac? what is your internet service? why do you want to be alone for solo? your chances are less to mine solo alone then to mine in ckpool in both cases you get the block ckpool charges .125 btc your chance of losing the block due to your in house setup are much higher then ckpool's chance of losing a block. ckpool has hit 112 blocks and has 0 orphans Yes, i tried to explain that in my first reply, however OP seem to want to do a completely solo independent setup. I respect his enthusiast and i suppose if he is not really trying to hit a block, it does not matter. However ckpool would probably be better for so many reasons. |
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Given that there will be no big crash in the following 9 hours, it's very likely to break -1.75 today (30 Oct)
I thought -1.75 was around 320? Didn't we already break it? Oh, and thanks for the updates! This thread is one of my faves This analysis use 1 day VWAP, so it has to be >320 on average. And the analysis use straightforward extrapolation. There is a huge diminishing return on growth as you go up and reach a global market level of cap. Also there's the rule that whenever things go up, they will go back down. It might go back down to 270 or 280, or 320 if it raise to 400 but it will. A straitforward line upward is not going to happen. At least not within such a short time. Maybe over 10-20 years. |
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Unless they reduce the price of the 21 Bitcoin Computer, I will never spend a single cent and just hold my coins until something good and profitable is released (like Bitmain's Antminer S7) The only thing that I like of the Bitcoin Computer is its design. Its a really silly device. Its basically just a RasPi. Not sure how much ripping off you can hide with nice advertising but, not that much for me. Thats for sure. I think it would be a cool thing to play with if they reduced the price by 75%. After all it does advertise some software that goes along with it that is nice for Devs. |
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that is one powerful fan, I am pretty sure only 1 is turned on and the others are spinning due to the pressure differential.
