Hey guy's recently i'v decided to try out litecoin mining. I never set up any other sort of mining before. The part im getting stuck on is setting up the miner. Is there someone that has more detailed instructions as to how to do this? I have my wallet all ready to go and an account with a pool.


Thanks!

Is liquid coin like litecoins? I wouldent mind using my i5 to do some mining if possible?

Have any suggestions for a specific bond or investment for someone new? =D

Did you mean bonds? Are they really that profitable with say 500-1000$'s invested?

Not my cup of tea unless you have an idea. I'm still completely new too Bitcoins, so the whole HYIP and investing thing seems pretty good. Just need to get some BTC now and set up an address.

Hmmmm LOL. I studied the stock exchange and Forex when I was 16-19. This should be good. =)

Wow that's crazy that means 16 of those ASIC's will only produce like.... 75 dollars a month  Maybe I should look into something else related too bitcoins lol

Answered all those questions on my own and wow i'm going to pre-order 2 BFL singles and gain 16 of the ASIC units when they come out. How high do we think the difficulty will raise once the ASIC has been out for a few months? double? triple? I was doing the math if I had 16 of the Jalapeno's going its around 5000 / MO but obviously the 50 is going down too 25 and such so yeah lol

Ahh you've really cleared it all up now. I think we'll just save / pool our money and wait for the ASIC provided they are profitable and worth the investment for a period of time. Are these listed on the BFL site already because all I see are the FPGA items? I'm assuming there's a pre-order list started already for these items somewhere?

SC? never heard the term. I'd like to get started mining ASAP. As nice as the ASCI seems i'm sure I can flip w.e I use now. I'll look into this SC

Do we know a price point for the ASIC yet?

Let's just say in the meantime excluding the ASIC / FPGA stuff. Would a 7970x4 set up work for price point comparison too amount of MH/s put out or is there a better card for a 4x set up? We already have a large server Case with a ODD / HDD etc. So really we'll only be being a buying a board the cards a CPU and PSU.

It looks like you can order those BFL singles now? For 600$. How do these work....you still need a computer to run it through right?

So essentially these are more efficient than the GPU way, cheaper and produce almost the same ?

Hello All!

   Recently a buddy I work with told me about bitcoins and the wonders of the market and how they work and what mining is.

So I decided to do some research myself and he explained different thing to me. After some long hard thought I decided id like to try out building a rig. and shot the idea at my buddy who is also technically my landlord

My questions are....

1. I wanna understand a little bit better about hash rates, really more like if we decided to buy 4x 7970's and use them, how do I calculate the total possible hash rate so I can figure out possible the average amount of bitcoins produced per day?

2. We wanna start with one rig just for bitcoins, we have PLENTY of dry, Cooled basement area if we decide too continue making rigs and producing a nice profit, Would you guys say 4x 7970's would be worth the money to start off with? We have a decent amount of funds to blow if it will return a decent amount more.

3.I've also heard that its worthwhile joining a mining pool and i have tried to understand the actual numbers, on average people seem to be making 3-4x the amount of BTC than if they fly solo. Would this be a good idea if we decide to do the 7970 setup?

     Ideally were obviously looking for the best bang for our buck setup that will show us some magic and convince us to build a farm. I also am going to look into how to figure out how to calculate how much more it'll cost us a month in electricity....Of course since the Landlord is my best friend and owns the house, Electricity wont be a worry provided were making money.



Any help is greatly appreciated, thanks guys!