There's something I don't understand...
Is it actually possible to track and estimate the size of some other individual wallet? I've seen the posts referencing users who have/had tens of thousands of BTC but, without any way to track their transactions it's entirely possible that they take profit daily and those coins have since been redistributed.
The amount of coin being traded would suggest that a lot of it is being held but, how can someone say whether that hoarding is confined to a few individuals?
you could probably wade through the blockchain to discover that the list of "top 100", referenced above, likely included multiple wallets held by single individuals. i don't know - and there's no way to tell for sure - but i would suspect so. i also don't care. more power to them. and i am quite content to think that i'll be able to afford a small sailboat which will run rings around vladimir's mega-yacht. we'll all have a party on the costa del sol, one of these days... |
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Hey slush, out of curiosity, do you ever intend to pay for invalid blocks like Tycho?
I prefer lower fees and following bitcoin rules, so - no. agreed. i'm happy as it is. you definitely have the sweetspot pool: big enough to crunch blocks fairly quickly, but not so big the payouts are tiny. you're quite welcome to my fees. |
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I read that whole thing, and am still unclear of how I can A. extract my payments....I have 2 BTC that are confirmed, but never recieved an email or anything B. how to set up a "wallet" and actually use them Could someone lay it out in plain english? Thanks! =D doesn't get any plainer than this: https://en.bitcoin.it/wiki/Getting_started |
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If this is true, then why would anyone drop out when it becomes unprofitable? And if nobody drops out when it becomes unprofitable, it won't become profitable again.
People will drop out because it takes more money to mine than to buy. Anyone who mines at a loss is insane. My prediction is that buying and operating a dedicated Bitcoin mining rig will tend toward slightly less than break-even in the long run because of competition against:
a) people who get electricity for free (college dorm dwellers, parents' basement dwellers)
b) people who have high-end graphics cards for their own video game amusement, who also use them on the side for mining. These people only care about post-hardware-purchase profits, not pre-purchase profits.
correct. ...with an addendum. c) people like me, and Shades (above), who have paid-off miners, and whose mining costs are only electricity and maintenance. |
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eh. my miners are all paid for.
2.1 Gh/s.
so it'll take me about four days of mining a month to pay my electrical bill, instead of the two days that it's taking now.
< shrug > i'm running 'em 'til they break.
What do you pay for electricity? i'm paying about $100/mo over and above my normal electric bill for the miners. getting about 7-7.5 BTC/day. n.b.: i haven't turned on the AC yet... |
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eh. my miners are all paid for.
2.1 Gh/s.
so it'll take me about four days of mining a month to pay my electrical bill, instead of the two days that it's taking now.
< shrug > i'm running 'em 'til they break.
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if you're an experienced overclocker you want to run both OSs - windows to set the card BIOS, and linux to run your miners. that said, 30 Gig HDD is a tad small.
oh - and Rule #1: accept no backorders. difficulty just goes up too damn quick.
HOW quick? quick. like every two weeks or thereabouts. it has recently tended to go up by 50 - 60 % every increase. Meaning your earnings decrease by 50 - 60 % each time difficulty increases ! it sort of depends on the exchange rate for Bitcoin. what is the calculable decrease, is your generation rate, with specific hardware. |
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meaning both 6950 and 5870 had same cost nowdays and give about 400Mh/s and 370MH/s respectively, while last one - consume nearly 1/4 more power ... ~$220 each.
but if you had access to you regional distributor store, you can get 68x0's for about $100. its about 170MH/s
other way 'round. 5870 = 400 Mh/s 6950 = 370 Mh/s |
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if you're an experienced overclocker you want to run both OSs - windows to set the card BIOS, and linux to run your miners. that said, 30 Gig HDD is a tad small.
oh - and Rule #1: accept no backorders. difficulty just goes up too damn quick.
HOW quick? quick. like every two weeks or thereabouts. it has recently tended to go up by 50 - 60 % every increase. |
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that price is off. Newegg has 5830 for $109, and they were on sale last week for $99/each so $.33/Mh/s the price may be off - but the cost/benefit ratios between all the cards is pretty good. i run every one of the 58xx series in various miners, and i'm happy with the accuracy of the spreadsheet. i also note that, in general, the 58xx series is overall the hands-down winner in $/Mh/s. of course, once you get into a more practical calculation - i.e., Dollars/Mhash/sec/computer - the 5850 and 5870 turn out more competitive numbers, simply because the megahashage you can cram into a single box is higher. |
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if you're an experienced overclocker you want to run both OSs - windows to set the card BIOS, and linux to run your miners. that said, 30 Gig HDD is a tad small.
oh - and Rule #1: accept no backorders. difficulty just goes up too damn quick.
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"...i've been mining about a week on my old gaming rig..."
it sounds like you might be the kind of person who has hardware laying around...
if so, you've probably got an old 450-500W PSU in a closet junk box. a very cost-effective solution might be to add that old PSU to your system (there are how-tos on this minng sub-forum, if you've never done it), using it to drive the 5970 - with your 850 driving everything else.
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Hey there, i've been mining about a week on my old gaming rig which was a 5970, and i decided to get a new card and mine with that too, so i bought a 6990 and stuck that in the gaming machine. Trouble is my PC is now freezing all the time when i'm using it, and is basically unusable, even without running a mining program.
My PSU is only 850w and i think this might be the cause of the lock-ups. Anyone have any similar issues?
if you're mining with a properly configured mining program, your 5970 is pulling over 325 watts - and your 6990 over 400. if you're using a gaming computer you've got a lot of stuff that's unnecessary, pulling a lot of other wattage (high-end CPU, lots of RAM, speakers, CD/DVD drive, etc.). even a +90% efficient 850W PSU would probably be toast driving all that stuff. |
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it'd be sweet if AMD would put together a V7900 designed just for mining: low RAM, no Eyefinity support, one video output, etc. a real strippo. how tough could it be?
i know they're quite aware of us - i wonder if they have any plans to cater to the market we represent...
How do you know they're aware of us? And once those are able to be found used, they'll be a much better deal. For high density mining, those are pretty sweet cards- same power as a 700 USD 6990, with far less power output? you're kidding, right? "How do you know they're aware of us?"  as for the hashing power - 1280 stream processors. so probably somewhere a bit better than a 6870 - like 350-400 Mh/s - no? but still; an MSI five PCIe-slot motherboard fully populated could be around 2 Gh/s. |
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it'd be sweet if AMD would put together a V7900 designed just for mining: low RAM, no Eyefinity support, one video output, etc. a real strippo. how tough could it be?
i know they're quite aware of us - i wonder if they have any plans to cater to the market we represent...
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Thank you very much for all the replies above!
Does that mean that even if I don't get online for many years, I still can receive the BTC sent to me years ago when I get online.
Absolutely. This means that you can create a new wallet with new addresses while offline, record an address, encrypt the wallet, delete the original, put it in storage, and pay to it whenever you want and essentially be beaming money into your super secure bitcoin savings account. Got it! Thanks for your suggestion.  BUT [ caveat...] computers and software being what they are (and what they've been in the past), "years" is a slippery concept. if that's your plan, you'll want to keep an eye on the Bitcoin development process - it's possible that something could transpire which would render a very old 'wallet.dat' incompatible with a new version of the client, without a complicated update process. a major change in encryption, for example. or something entirely unforeseen. don't just ignore it all for five or ten years, and expect it to work without some effort... |
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nice motherboard for mining - plenty of room between the bottom of the second GPU and the bottom (or side) of the case. essential for cooling. but check out the difficulty level threads before you commit major dough to hardware. just sayin'... |
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From what I've gathered in the past, the statistics come from those who have the Alexa toolbar installed. Not exactly a solid representation but I'd guess in this circumstance it's close to being accurate.
"Not exactly a solid representation..." uhh... yeah. that is: agreed. i mean, how many of your average anarcho-libertarian types like to give information away for free by using things like Alexa/Google/Yahoo toolbars? you can just bet i've got all three installed. < /snark > mmmph. |
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