Bitcoins -> USD -> Steam  |
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For newbies, forget the natty/ubuntu install guides and simply download linuxcoin.
Guaranteed to work every time.
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This reeks of a scam.
The fact that they have not complied with JoelKatz simple request of "asking questions" makes me believe it is 100% Bullshit.
Do not put your money into this project. I am not doing so.
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For all the fellow miners out there, what specs did you start out with? I started with (and currently still use) a single HD 5750. ~120 mhash/s without any flags, around 160-180 mhash/s with. Nothing decent, I know. At least I didn't have to pay for it, and I don't have to pay for power. So it's all profit.
I'm looking into putting together a dedicated mining rig, but that'll be a while.
How long did it take you to upgrade from what you started with?
In a few years, people will be wishing they had implemented your "nothing decent" setup  |
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Just curious, I've seen rigs on the wiki with over 2.1Ghash/sec which can make up to 114 bitcoins at the current difficulty.
And I was wondering if anyone else made coins faster than that?
I am personally running over 7Ghash FYI. |
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Don't ask if there is interest, just get on with doing it!
It is indeed a great idea if you implement it properly (safely).
Good luck!
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My crystal ball dysfunctioned, and reading the guts of a fish also didn't come up with a satisfactory answer, so I had to vote "dunno".
I disemboweled myself and decided based on how the entrails landed. |
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RonRamon,
Your response is kind of what I was expecting, the only issue is that the cost of running that would be very large compared to the number of bitcoin users/possible investors. The idea we had was creating a "micro" investment fund, where people would be investing a small amount of money to see what kind of interest this really generates before starting up a larger organization. Also the plan right now is to just use one fund, to simplify things.
The idea of having support, live updating of performance is given. Right now I would say we are targeting small fish to test out the bitcoin market, before bring in larger sums of money.
All you really need to do is: a) look professional b) act professional That's it. If you look like a nice website and answer any and all of my questions within 24 hours as most good websites should, chances are you will get some of my money. |
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At this rate actually it is probably pretty close to the lottery in terms of cost to reward.
Say you already own a computer, and you buy a 5830 for $150 USD that can do 250Mhash/s ...
Over the course of one year, you will probably mine 1 block solo, or 50BTC or ~$700 USD.
If you spent $150 on lottery tickets... you could probably make about $700 if you were lucky, or nothing if you weren't.
Same with BTC!
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Hrmmm, didn't know there was such thing as a slow free fall I wouldn't worry too much. Just because bitcoins are not jumping $5 per day does not mean we are tanking. Business as usual as far as I am concerned. |
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Sooooooo, is this a scam or not? Didn't diablo call you guys out for being one? What's the dealio?
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IMO there is really no reason to jump pools. You will only lose shares in the time spent reconnecting to new pools.
Over time, we all make the exact same amount of money.
Anybody who jumps from one roulette wheel after betting on red to another roulette wheel to bet on red is just plain insane.
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It's July 19th.
Summer is in the future for you? Are you in the southern hemisphere, or northern Canada?
Lol, canada experiences summer the same time you americunts do  |
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The fact is, that running your computer 24/7 actually makes it last longer than turning it off and on. The reason being is that heating and cooling of materials degrades them over time (just like bridges, roads, etc up here in Canada) ... if your rig simply stays at 80 degrees celcius forever it will hardly even know it was turned on. The high speed of the fan could eventually wear down the ball bearings and stop spinning. Therefore it may be beneficial to run your fan at a lower speed and simply accept the higher temps. |
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Currently solo mining with 170MH/s. We'll see how it goes.
At the current difficulty that 1 block every 256 days. With the current difficulty trend i'd say 50% to find 1 block within 3 years. Kinda off...its more like every 16 days. Not sure if you have been watching the news... but this is going to be huge for the difficulty level. Think about it! |
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How many of these did you get when they were $99.99? 6 And I sold the free steam cards for about $20 each. Talk about a fucking deal. |
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I'm wondering if namecoin's next difficulty level will ever come. It's been postponed forever (from July 15 to July 22).
Well, I know it'll eventually come as long as there're people mining namecoin. Just wondering when that'll happen and at what exchange rate to BTC then...
That's not a mystery at all. The reason the difficulty has been postponed is many namecoin miners learned to use a calculator. They figured out they'd be making at least 30% more nmc/day buy mining bitcoins and buying namecoins. http://dot-bit.org/tools/nextDifficulty.phpThat difficulty calculator is a bit off. I expect the actual difficulty to be lower than 22,000 but let's use their estimate. 22600/1696899.99 (their estimate of btc difficulty on the 19th) = .0133. Current exchange rate is double that at .025, so for about a day namecoins will become 2x as profitable as bitcoins to mine, which means we'll all dogpile on. Or price of namecoins will drop to the current discounted rate of 40% vs bitcoin, or roughly .008 BTC/nmc (1/4 current price) and nobody joins. Assuming we all dogpile on and mine out all 2016 blocks in 20 hours or so we'll have a difficulty jump to about 80k. Which would give us an NMC price of .0532 - well over current .04. But wait! People will anticipate that BTC difficulty increase and the next NMC difficulty drop after ~2 months or so of NMC miners eager to mine at a loss, so we'll be right back to roughly current trading levels. Except NMC miners will enjoy giving away another 10-20%. Guys, read this post, namecoin difficulty is going to go through the roof. |
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With this new patch, namecoin difficulty is only going up. I suggest you start mining now. |
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Yes, timestamps come from the mining computer and can be off by as much as 2 hours.
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