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Why not have no minimum? I realize that this will lead to many people spamming the lowest # of bitcoins possible to have a paid transaction, but the market should reset transaction fees to the optimal price. Am I right?
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Vandroiy, you're right on the money.
TBH, I'd be looking for another bitcoin forum if they started hiding posts that were deemed "unpopular". That's not what a forum is about.
If you want 100% quality content, go look for a blog or article. A forum is for discussions of all kinds, and of all intelligence levels.
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Try now? Fixed some other errors. Should have done more testing after adding the anti-mysql-injection function, but I didn't know it could cause any trouble!
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That's a lot of work to go through for ~$35 max.
Already there are $75 cards and this will only go up. It might cost thousands to find a good way, but then each time will be cheap. I'm thinking special camera or something. Ah, my bad. I thought they went up to 10BTC max. Well, I suppose it's possible that a counterfeiting operation could disrupt bitbills. It'd have to be very organized... Here's another idea. Have a series of pin #'s on the back of the card, all of them covered with the same stuff they cover scratch-it's in. Have maybe 25 of them or something. If you are worried about the validity of the card, you can scan the QR code, it shows you the balance of the bitcoins on the account, then you scratch off a new pin # to double-check that it is a legitimate card. If a pin # has already been checked, it won't show as legitimate. Hmmm, actually, that probably wouldn't work. If the counterfeiting operation already had the original, they could just scratch off all of the pins on the original, add them to the new card, and then rescratch up to the pins that had been used on the original. Uhmmmm... I'm out of ideas. :p |
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Electricity is covered in my area so it isnt a problem. I am also wondering is the Gpu is consistently running on 100%? Also it's not worth mining with a quad core CPU at all?
Yes, that's assuming 24/7 running with a 98% uptime. No, it is not worth mining with a quad core if you pay for electricity. Your average i7 makes about 15MH/s, and consumes 125w. Your 570 makes about 110MH/s, and consumes 219w. The i7 would lose money, unless your electricity is free (which, it sounds like it is). So, may as well mine with it. But it'll bring just a few dollars a month worth of bitcoins. |
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Well, I used my spreadsheet (link in sig) to calculate your profits. I did not include the processors, as mining with those is unprofitable at this point. So, assuming a 40% rise in difficulty tomorrow, and 40% difficulty increases in the future, as well as assuming a 10% increase in BTC value every week, and also assuming electrical rates of $0.10/kwh, then....
In a month, you could expect to make $107.79 of BTC, if traded at the end of the month, and if current prices hold.
After fees ($4.93) and electricity ($33.12), your profit would be $69.74.
If you traded your Bitcoins into USD daily, through the Bitcoin --> SLL --> PPUSD process, you could expect a profit of $20.44, after fees and electricity.
This is with mining with both GPUs.
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Shouldn't be too hard to make something like that.
Can I ask what the purpose of the site is? In other words, why would someone want to look up information about the first transaction made to a particular address?
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Looks very cool. A couple thoughts. Checking the balance doesn't mean much since anyone clever will wait until after the sale to move the coins and you won't be rushing out to destroy the bill normally. Even if it is virtually impossible to make a bill that could fool you, it won't be nearly as hard to fool someone who hasn't handled them themselves. This is more of a problem in the beginning, but it could recur as you change the design. The prices seem reasonable. Will they get even lower if you can scale up? Do you figure people will trade them at face value or retail? Smaller denominations coming soon?  Good point about the balance checking. However, if the card hasn't been destroyed, how would the person obtain the private key? The only way I see a scam working is if someone made an exact replica of an existing card with the same bitcoin address, destroyed the real one to get the private key, then sold the fake one before transacting the bitcoins out of the account. That's a lot of work to go through for ~$35 max. |
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The electricity doesn't cost all that much compared to the mining hardware, so I think the increase in difficulty compared to BTC/USD will almost stop before it comes completely unprofitable most places. It will probably get close enough that you can't earn back the money for a new system before it's outdated, though.
Good point, true enough. I suppose the only reason that difficulty is increasing right now is that people are buying new hardware to mine with. There might continue to be a slight increase as people with existing high-end AMD cards may want to join in on the fun, but there will be a certain point of profitability where people will simply stop buying additional hardware, in fear of it not being able to pay for itself. |
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Isn't the tampering issue taken care of with the QR code on the back that allows you to check the bitcoin address's balance? If there's no balance, don't accept it...
Regarding counterfeiting... I'm not sure if this already happens, but if not, it should. The balance should be checked THROUGH the official BitBills website. If BitBills did not produce the bitcoin address on the card, it should be shown as an invalid/counterfeit card. If BitBills DID produce the bitcoin address on the card, then it should validate the address and show you the balance. Cards should be invalidated once ANY transaction is made from the address, as that means that the private key has been revealed to someone.
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I think we're certainly looking at a point in the near future where mining will become completely unprofitable, just due to electrical costs. At that point, a lot of the miners will drop out, and the difficulty rate will stabilize to a semi-profitable state. Whether that semi-profitable rate is twice the cost of electricity or only 10-20% above it, well, we'll just have to see when we get there.
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If I understand this right... the person creating the poll gets 100% of the funds that are "voted" with? Interesting... I need to start thinking up good polls then. |
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- PCI_E1 supports up to PCIE x16 speed (when PCI_E3 is empty)
- PCI_E2 supports up to PCIE x1 speed
- PCI_E3 supports up to PCIE x8 speed
- PCI_E4 supports up to PCIE x1 speed
- PCI_E5 supports up to PCIE x16 speed (when PCI_E7 is empty)
- PCI_E6 supports up to PCIE x1 speed
- PCI_E7 supports up to PCIE x8 speed
- PCI_E8 supports up to PCIE x1 speed
- If you intend to install two expansion cards, it is recommended to install them into PCI_E1 & PCI_E5 slots. Dreams, crushed. Bitcoining only needs PCIe x1. so why pay for a expensive motherboard, when you can get a cheaper one, that has the same amount of pcie x1 slots? The PHYSICAL slots need to be x16. The actual SPEEDS of the I/O of the slot only needs to be PCIe x1. nope, just get 1x to 16x extender, or cut the end off. Oh... didn't realize you could do that.  EDIT: When you say cut the end off, you mean the end of the slot, right? |
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You're right, thanks! The latest spreadsheet should fix all of those issues. Salvage value was not being included on the total net profit calculation, and initial capital expense was not being included in the total net profit if traded daily calculation.
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It depends on many factors... see the link in my sig for "should I buy or mine". With that spreadsheet, you can calculate exactly how much profit you can expect from mining.
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- PCI_E1 supports up to PCIE x16 speed (when PCI_E3 is empty)
- PCI_E2 supports up to PCIE x1 speed
- PCI_E3 supports up to PCIE x8 speed
- PCI_E4 supports up to PCIE x1 speed
- PCI_E5 supports up to PCIE x16 speed (when PCI_E7 is empty)
- PCI_E6 supports up to PCIE x1 speed
- PCI_E7 supports up to PCIE x8 speed
- PCI_E8 supports up to PCIE x1 speed
- If you intend to install two expansion cards, it is recommended to install them into PCI_E1 & PCI_E5 slots. Dreams, crushed. Bitcoining only needs PCIe x1. so why pay for a expensive motherboard, when you can get a cheaper one, that has the same amount of pcie x1 slots? The PHYSICAL slots need to be x16. The actual SPEEDS of the I/O of the slot only needs to be PCIe x1. |
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- PCI_E1 supports up to PCIE x16 speed (when PCI_E3 is empty)
- PCI_E2 supports up to PCIE x1 speed
- PCI_E3 supports up to PCIE x8 speed
- PCI_E4 supports up to PCIE x1 speed
- PCI_E5 supports up to PCIE x16 speed (when PCI_E7 is empty)
- PCI_E6 supports up to PCIE x1 speed
- PCI_E7 supports up to PCIE x8 speed
- PCI_E8 supports up to PCIE x1 speed
- If you intend to install two expansion cards, it is recommended to install them into PCI_E1 & PCI_E5 slots. Dreams, crushed. Bitcoining only needs PCIe x1. |
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Updated to 1.3... includes all of JJG's suggestions and phelix's suggestion to include calculations for selling immediately (or in this case, daily, since hourly would be a bit insane and impractical.
Next update, I'm going to notate all of the calculations in comments on each calculated field, so that others can more easily double-check my work (and I can double-check it myself while writing out the notations as well).
I think you forgot to add/subtract some cells in the sums for "total net profit" and "total net profit daily" in version 1.3. Hmmm... any idea what I am missing? I double checked it, and I did find one mistake in the net profit if traded daily... I wasn't including the uptime percentage in that calculation! Other than that though, everything looked good. To me, at least. |
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Haha, figures, I launch it with a defect that doesn't allow anyone to register! Fixed. |
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