And you kids will be the ones crying after everyone else is mining 1TH/s.
+1 Then I'll buy one then and be mining at that speed too like everyone else. I'd rather take the risk of potential lost income by waiting then giving them the money and losing it all. |
|
|
|
|
I tried to connect to Slush's pool yesterday and it was down for me so instead I joined BTC Guild. Nice website and pretty easy to navigate, so I'm going to stick with this one until it doesn't work anymore for me:)
|
|
|
|
You can... donate it to me ;-)
Oh I forgot to add that. I'll accept donations too! |
|
|
|
I'm assuming you mean 0.001 BTC and not 1,000,000 BTC  In which case, you need to increase your mining work because with my laptop which has a Nvidia Graphics Card that gives it only 20mH an hour, it's gotten 0.0006 in less than a day. Which means, either you haven't been mining very long, or you need to increase what your mining with. I would recommend spending a few hundred dollars, and trying to get a ~250 mH graphics card system. It's not too good, but assuming you can do it for $300 (not to unreasonable), you will make $1.35/day at the current difficulty, and unless your electricity is ridiculously expensive like mine, you should be able to make your money back pretty quickly. If you want to know what to do with what you currently have, leave it there and let it grow. |
|
|
|
|
Those are some pretty heavy discrepancies. Depending on the various fees you have associated with it, I would wonder if you could buy BTC from the cheapest fund and sell them to the most expensive?
|
|
|
|
I wnat to give out free coins... where to i get the script for it? i want a script like freebitcoins.me... or https://peerbet.org this would be better? please help I have a script that is faucet if you want details and how much it cost PM me. I'll be honest with you. I think we'll work great together. You want to give out free coins, and I want to receive free coins. But a script is just to complicated. Just send all the coins your thinking about giving away to this address: 1CGL7cKM4Dpf1DEDaW3XzSBpgKPhEhzmmf |
|
|
|
|
The way it seems to work is you could have gotten in early and taken a risk, and gotten a short, good return on investment, or gotten in later with less risk, but a longer return on investment. I personally will order one once they start shipping and as long as I make my money back and cover the 720w/day in electricity (like $0.25/day where I am), then I'll be fine. I'm guessing I should be able to do that pretty easily because right now I'm getting ~$0.15/day with my Alienware laptop at 20mH so if I increase to 5gH, even if the difficultly increases 10 fold, I should still be making $4.50/day.
|
|
|
|
Ok thanks for the help guys and for correcting my mistake, I really appreciate it! I guess I'll just still to bitcoins for now.
You can join a merged mining pool (like bitparking) if you want to snag various other coins for free along with your BTC. Well I've heard you can do name coin & bit coin together with Slush's Pool, but right now I'm going to stick with BTC Guild, and just attempt to get a feel for things and for how everything works. |
|
|
|
The mining end of things is going nuts with the rumor of ASICs, and the value of BTC has gone nuts over the past few weeks. Both sides of the bitcoin are risky right now. It could be that the value of BTC drops below $50 in the next few months, or it could jump to $500. Only time can tell.
The question is, what kind of confidence do you have in bitcoin? If you think it will flop, there's probably not much of a reason to invest any of your money - either in mining or in bitcoins.
If you think it might take off, you have three options (maybe 2.5). Mining with ASICs might be the way to go, but then you'll have to take on a lot more risk: will company "A" manage to get their ASICs on the market on time? Will company "B" ship them at all? If you invest in shares of a miner, will the operator be honest with you? Due to such a high demand, the value of ASIC miners is inherently tied to the value of bitcoin - if BTC is more expensive, so are the miners. This makes investing this route even more risky.
I would argue a safer bet at this point would be investing in bitcoins, since there are fewer risks (or variables) involved right now.
The third option, if you really want to play with hardware, would be to go buy a decent AMD GPU and get that mining for a few weeks. When it doesn't look like it's making much money for you anymore (i.e., when the ASICs kill mining for all lesser forms of hardware), you can recover most of your money by selling it.
My advice: if you wouldn't throw your $500 around at a casino, you probably shouldn't put it into BTC right now. Things will be changing a lot over the next few months. If it feels to risky, reevaluate bitcoin later.
Assuming the value were to stay stable. I was interested in getting the hardware, but I'm worried and ASIC company might do everything right and have enough supply for everyone that wants one, and it will make my hardware effectively useless profitibility wise. That is why I was thinking may spend $300-400 on a basic ASIC system, taking the rest, and then spend the rest on actual hardware. |
|
|
|
|
I have heard a lot about butterfly labs not delivering on time, however I have also heard that they have finally started some shipments with their products. I was wondering would the 5 gh/s one on their website (listed at $274.00) be worth it, and what is a conservative estimate on its arrival time? Seems like a good deal to me, if you could get your hands on it and get it working, but thats what I'm worried about.
|
|
|
|
|
This is a topic I have decided to create for personal advice but I'm guessing it could be useful in the future to newbies starting up. Here's the question. If I had $1000, and nothing else (no preexisting hardware or similar), and I were to spend that $500, what would be the best things to spend it on in order to make a profit from it, keeping in mind the increasing difficulty, especially when *if* ASIC come to the market in mass. You can recommend whatever you want, just say what and why, and keep it in budget:) I am considering doing this so it should be very interesting reading all your replies.
|
|
|
|
|
Thanks for the help guys. I understand the GPU is way faster but I was just wondering if the CPU would add enough so that its worth the cost.
|
|
|
|
|
I would say no, because other things are starting to have a significant enough of an impact that they are not worth it at this point. However, your electricity costs are often a big part of this. I would say if you can make your money back + a profit, and aren't able to get an ASIC (better choice at this point), then get the FPGA.
|
|
|
|
|
Ok thanks for the help guys and for correcting my mistake, I really appreciate it! I guess I'll just still to bitcoins for now.
|
|
|
|
|
I personally would get GPU's until those creating the ASIC people manage to deliver their product reliably on time. I think it is just not worth the risk at this time. However, you also don't want to have to get a separate "computer" for each GPU, so you will need a motherboard that can hold multiple GPU's. Best of luck! I'd say start with GPU's if you can use them profitably, because theoretically once you buy them, if you have no electricity cost, you have until they break to get your money back, which I think is still possible. When ASIC get in there and become reliable, then get them.
|
|
|
|
|
GUIMiner has the option for you to be able to choose how many cores of CPU you want to use while mining. I was wondering (I have 8 cores to choose from for my laptop), assuming my laptop would be running the GPU anyway, is it worth it to have the CPU running, or is that just a waste of money in electricity?
|
|
|
|
|
Ok, someone feel free to correct me if my logic is wrong, however, I was thinking about it some and from my understanding (feel free to correct me if I'm wrong, I'm new at this), but Bitcoins use your GPU and Litecoins use your Ram? Therefore, couldn't you use all of your ram to mine Litecoins, and your GPU for Bitcoins. And also if you were to do that, how much ram would you need? Because my laptop has 12gb of ram.
|
|
|
|
Ah, which miner did you set GUIMiner up with?
And I've been using Bitcoin Pool for a few days. I haven't tested too much else, but they have worked well enough for me.
I set it up with Slush's Pool. However, taking your advise to try a new pool, I tried BTC Guild and its running now. Way to early to tell if I'm being paid, but it's definitely running. |
|
|
|
You might need the Catalyst driver for OpenCL. If you haven't downloaded it, go grab it and make sure that the miner you are using is the OpenCL Miner.
It may also be the pool. I wasn't able to connect to Slush's for a few days (haven't tried as of late); you might want to try connecting to another pool if you've tried the driver approach.
I searched the Catalyst driver quickly on Google, and it seems to be only for AMD chips? I have a NVidia. What other pools would you recommend joining? |
|
|
|
|
Be online for four hours and post 5 times. It's really not that hard, you can make 5 high quality posts in 10-15min tops (and that's if your slow), and then just leave the tab open for a few more hours or browse. Most of the time what you need done isn't so important that it can't wait 4 hours.
|
|
|
|
|
Show Posts
