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First payment received, thank you!
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My friendly advice for anyone that bought coins in the past days.
Right now the trend is reversing down again probably back to around 210.
Sell now if you want to make profit.
Meanwhile, the price has risen 5% since this posting. Don't feed the trolls. |
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I hear an officer saying "drop the gun", but can't see if the guy actually had a hold of one of their sidearms or not. You could hear the taser going off that the one officer can be seen holding, so it would be unlikely that the guy on the ground was threatening them with a gun while being tased. Terrible, terrible, but remember what South Park taught us:  |
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Since that time I made a little over 0.40BTC with those 2 miners and today I took profit and they paid for themselves.
I am so happy that the risk I took ended up paying off. Even with free electricity it was still kind of scary buying mining equipment with difficulty hitting new highs and BTC hitting new lows.
So for new miners out there, YES you can still make money mining with a little bit of risk and luck.
Getting away from the heat discussion... What pool did you mine in? Congrats on the ROI. |
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A place where you can give your bitcoins and earn savings or take out loans or whatever the other banks do really , just simply a bitcoin bank?
Bitcoin is a system to get away from the old ways that your are describing. Decentralize is the name of the game. There are plenty of ways to make your BTC work for you, but equally as many, maybe more, scams and schemes out there. Do your homework before doing anything with your BTC. |
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Difficulty is almost always rising. Profit has gone to a low level compared to last year. Miners get more efficient. To stay profitable one must have an efficient miner. How many early ASIC miners have already been retired for lack of efficiency.
So, when payout per block halves, if profit has been cut to a more fine margin at the current rate of 25btc/block, what happens? Will difficulty change allowing power for solving a block to be halved? Or will we all need to either stop mining or mine at a loss?
It's all guesswork. The block reward has only been halved once so far, in the run-up to that we saw the price of Bitcoin increase. What will happen next time is anyones guess. BTC mining technology was increasing by leaps and bounds at that point, so I do not think a direct comparison between then and 2016 can be made. I think we're going to see some large mines shut down in 2016 as they lose their profitability, and the difficulty of the network generally lowering, but I don't expect anything drastic to happen. Yet. |
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GPU mining is dead, you are completely wasting your time. A standard miner today does 1TH, or two millions times faster than what you're doing, and that's just one box. Most people use several miners.
Buy a usb miner, they'll do 2GH and cost less than $20 if you just want to play around. Or buy a used S1 for $20, 180gh. Or a used S3 for $100, 450gh. But the tech you're using isn't gonna do squat today.
Ah I see. This stuff is fairly interesting and I did kind of feel that what I was doing wouldnt accomplish much, though I didnt realize it was this bad. I might buy an usb miner as you said It is very interesting, I mine just as a hobbyist for now, I don't want to spend the money to buy the gear it would take to turn a profit today. The little USB stick miners are fun to play with, like the antminer U2 or bitfury nano fury. Look on ebay, I got mine for $20-$30 there. The antminer U3 is another fun starter machine, I have 1 and 2 more on the way, they'll do 50-60gh. |
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I eventually found the time to setup my first Bitcoin node. Hopefully I have the ability to host it in the Greek backbone network, at the Greek Internet Exchange (I don't know how long I'll be able to host it there though). I have a powerful machine as well, with 4 cores and 8 GB of RAM, and it can deliver up to 1 gbps in Greece and up to 100 mpbs overseas. What I'm asking is how will I be able to optimize it. Considering its location and how powerful the server is, what can I do to have the maximum connections, etc? Feel free to connect by the way: IPv4: 83.212.119.206 IPv6: 2001:648:2ffc:1225:a800:bff:fe20:637f I just set up my first node, too. I had it up for a couple weeks before I learned that I had to forward port 8333 on my firewall to the pc with the node, but now I'm up and running, too! Congrats. |
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If signature campaigns didn't work, I doubt they would be so popular. Speaking of, be sure to visit the site in my signature.  |
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Mikestang, what your OS? 32 bit?
try run with -par=1 -maxconnections=4 -dbcache=4 (Only at the time of initial synchronization, then you can run without the parameters)
32-bit WinXP. It's almost sync'd now, <10 weeks to go, so if it's not finished when I get home I will try this, thanks. |
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The file start-BTC launch and close very fast, this is the command line I use : " cgminer.exe -o stratum+tcp://eu-stratum.btcguild.com:3333 -u yassassin_1 -p 123 --gridseed-options=baud=115200,freq=750,chips=5,modules=1,usefifo=0,btc=64 --hotplug=2 "
I don't know which file "readme" you talk about.
Thanks
Read the README.txt and ASIC-README.txt in the cgminer directory, they list all the command line options for cgminer. --gridseed-options is not a valid option. |
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I use bitcoin core on my home machine and bitcoin wallet on my android phone.
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Also tried this tool here https://getaddr.bitnodes.io/and it says I'm unreachable ....but I'm writing form the same pc where I'm running bitcoincore and with the same connection  Forward incoming port 8333 on your router to the pc that is running core.
Any tip on how I may check if these are the reasons and how to forward port 8333 explicitly?
You've already checked, you are unreachable. The "how to" is up to you to know how to use your router/firewall. |
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Just use a wallet that lets you set the fee (I can't find a way to do it with Multi-bit, but Electrum lets you set your fee), and give it a try. It might take days for the transaction to go through, though, so don't try it with an important sum of BTC.
In general, though, I wish people would just pony up the 2.8 cents and feel good about supporting the network...
Yes,Multibit does not allow its users to be able to change the fees themselves. It is permanently set to 0.0001 So if fee goes up will we need an update to not be set into low priority? Or use a wallet that let's you set the fee per kb. |
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That screen shot doesn't show any active mining. Don't double click, cgminer is a command line application. Do you have the right command line options in your bat file? See the readme for command line options for your supported device.
FWIW, I had to use 4.9.0 to get my U3 to work, 4.9.1 wouldn't recognize it. YMMV
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About all you can do is make sure you have a good connection to high speed, low latency bitcoin nodes for rapid block change notification and propagation. There's nothing you can do to speed up the confirmation process, that's part of the code of bitcoin.
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Looks like a very interesting doc, can't wait to see it! Hopefully bitcoin gains some popularity from it.
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GPU mining is dead, you are completely wasting your time. A standard miner today does 1TH, or two millions times faster than what you're doing, and that's just one box. Most people use several miners.
Buy a usb miner, they'll do 2GH and cost less than $20 if you just want to play around. Or buy a used S1 for $20, 180gh. Or a used S3 for $100, 450gh. But the tech you're using isn't gonna do squat today.
And by my calculation 1000 years is much too small an estimate. I calc that it will take you approx. 127,161 years to solve a block with that setup.
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