Cool, thank you for the links. |
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Thanks to everyone who contributed and thank you for the post Gavin. Everyone should read it before using encryption.
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Wait, why do mining workers even HAVE passwords?
I also never understood this... |
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Higher than that actually. 1k parts isn't even close to being considered enough volume to get any real discount.
Even if every single Bitcoin miner were to participate in this GB, the volume doesn't justify any real discount. In the industry, you have to have part volumes > 10-100k (depending on many factors) to get any real leverage, and that applies only to customers who agree to long term business relationships as well. Bitcoin is a drop in the bucket compared to commercial designs.
Exactly. And to make an ASIC you need to invest a lot of money in development. Maybe $1 million? This may be relevant to the discussion |
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Sometimes I come here to read news about alternate cryptocurrencies, but I always leave without any idea of what is going on. Half of the threads are jokes about a forum member or about a cryptocurrency, the other half is filled with flames and personal insults.
So is there a way to quickly know what is going? How many alternative cryptocurrencies exist, what is the development status, active users/miners, etc. I am lost between the fake announcements and the dead currencies.
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Great work  |
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I still don't understand why you can't really use a powerful CPU for mining. Is a GPU really more powerful for these calculations?
OK, Mythbusters explained this far better than anyone else, and all in 1:34. (including slow-motion replay!) Go watch this video. This is GPU(parallel) vs CPU(serial). http://www.youtube.com/watch?v=-P28LKWTzrIHehe. It's exactly that. |
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You can't. You can only mine if you have Snow Leopard or Lion.
EDIT: Ok, you could mine with your CPU, but it is not worth it. By this, I mean that you will earn something between 0BTC and 0.1BTC per month. It is a waste of electricity and time.
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That is the number of submitted shares since you launched the software. GUI Miner does not record history. You can probably see more detailed statistics at your pool's webpage.
The pool does not send you shares. A share is a proof work. It proves that you have been trying to find a block. For each share that you send to the pool you get a reward.
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I used bump a couple of times with Paypal and it worked every time I did it. What phone are you using it on, and does your phone have a reputation for having a dodgy accelerometer?
I used an iPod Touch, but it was a couple of years ago. Maybe it is better now... |
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I still don't understand why you can't really use a powerful CPU for mining. Is a GPU really more powerful for these calculations?
Short answer: yes. Why don't you use just a really powerful CPU to play games? Because they don't handle image generation as well as a GPU does. No matter how good a CPU is, you still can't play a recent game without a graphics card. GPU's hardware is optimized for parallel tasks such as image processing. Bitcoin mining algorithm also benefits from this kind of architecture. |
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A year or two could mean never because better hardware will come.
Actually, maybe not. Unless you are thinking FPGAs or even ASICs. Next generation AMD videocards will likely be worse at mining than current 6xx0 and previous 58xx ones. From everything I heard they will make designs that resemble nVidia's architecture more, which almost certainly will mean worse hashrates (though better at general purpose computing). You are correct, but I am thinking about FPGAs or ASICs  It may not happen though... |
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a year or two. Electricity ain't cheap.
A year or two could mean never because better hardware will come. |
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I found bump a neat idea, but in my experience it doesnt work that well.
This. Plus you feel kind of stupid while doing it (mostly because it sometimes doesn't work) |
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Do you check for possible double-spend attempts or is the transaction accepted right away? What happens if a double spend occurs using a Finney attack (I know this is highly unlikely, but I want to know if you have considered the situation)? |
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Firstbits definitely won't work. Another alternative is to use something like payb.tc
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It IS a bit complicated.
Pun intended? You don't need to understand the technical details to use bitcoins. You don't even need to understand mining. Just head over to an exchange and buy some bitcoins if you want to use them. Solo mining is irrelevant, unless you have dozens of GPUs. If you want to mine, just create an account at a pool, download the mining software and enter your user/pass there. Check these links to know if it's worth it: https://en.bitcoin.it/wiki/Mining_hardware_comparisonhttp://tpbitcalc.appspot.com/PS: Yes, it is kind of overwhelming at first. Just try to avoid technical details if you don't want to know them and skip to the "usage section". |
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yea but if they are in different countries, their currency doesnt have that kind of volume. Would really be looking to send them BTC so they could exchange for GBP or INR; but those currencies dont have the same volume as mtgoxUSD
This would be a problem. For example, the only INR exchange listed on bitcoincharts has a 30 day trade volume of 300BTC. I think that you should consider this only for GBP and EUR payments (britcoinGBP and MtGoxEUR/TradeHillEUR seem to have a decent amount of volume). Other currencies won't work right now. Having an external company dealing with the fluctuation for a small percentage would be ideal, like someone else suggested. Have you tried emailing the guys at bit-pay? |
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If you are putting big quantities of money into Bitcoin (more than you need to buy stuff with it), then you are investing, not saving. You only invest what you can afford to lose, specially with high-risk stuff such as Bitcoin.
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