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Can we call this guy the most ignorant guy on earth?
Mmmm, no, not by a long shot. There are people with Youtube videos about bitcoin WAY more ignorant than him. Like for example that bald dude that someone has an avatar on here of, with an alien thingy stuck to his head. You'll find even more ignorance in the comments section of /. articles on bitcoin, too. Some of those posts are just painful to read. I watched this guy when I first heard about bitcoin way back, when I didn't know/understand anything about it, and unfortunately didn't really bother to do my homework. Looking back, he is sooo incredibly beside the point, it is really laughable. Wouldn't want to be the company that hired this "bright" computer engineer, he looks and reasons like he was on SR too often.... EDIT: another pearl : https://www.youtube.com/watch?v=wgr3qEjbstMOh god. I had a hard time watching that. It was actually painful watching him try to explain his... thoughts if you can call them that. "Or is there  " It quiet interesting how uninformed people can talk about things so confidently. |
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Anyone get banned yet as this is against the rules of all of those sites?
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LTC is much faster than BTC so I don't see how that is only usable as an investment.
Unlike BTC, there are not that many places that accept LTC, (and, to be fair, even BTC is not that widely accepted either, but it is a lot more accepted than LTC). So LTC, for now, only looks like an investment for trading on the exchanges. Anyways, BTC mining isn't dead and won't be in the foreseeable future. Find a pool and its easy.
I agree, it is just a lot harder to mine. You have to mine for weeks before you have enough to use them on something substantial.FFMG This is more about the relationship between btc to fiat value and difficulty as most businesses do not deal in only BTC. However, comparitively I don't think that statement is very true. Now when you mine in a pool .1 BTC it is worth $12 when before you needed an entire bitcoin to get that much in USD. |
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I don't think that BTC, (or LTC), mining is dead, it is just very hard and not very rewarding, (for the vast majority of miners).
Like real mining, you get a very small return for a lot of work/expenses.
Personally I am hedging my bets on both currencies, but I would really rather see one single currency taking off.
I have one machine mining LTC and another mining BTC.
Like a few miners my main objective is to mine as much as possible before I can actually use the currencies.
My plan is to mine for about a year before I use my coins for 'real' transactions.
By the looks of it, LTC might only be usable as an investment rather than for actual transactions, only time will tell I guess.
FFMG
LTC is much faster than BTC so I don't see how that is only usable as an investment. Anyways, BTC mining isn't dead and won't be in the foreseeable future. Find a pool and its easy. |
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Imagine when 60 million people in the U.K. realizes that they could make a bit of money on the side, they just need to mine.
That will royally f**k up our difficulty...
Except most of them won't have or think they have the technical ability, or the hardware, or the funds to acquire hardware. It's not like the average home desktop can make more than negligible gains except for maybe gaming rigs but those aren't necessarily average. |
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Realistically in the near future, maybe a vpn and seedbox.. |
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Cool! Thanks to both of you (c0ikws too) for the replies. I was thinking that the 7850-70 should do a little better than 250Mh/s, but hadn't really looked into it too much yet. I've been eyeing a 7870 that's normally just under $200, but it's been on sale a few times lately for $127...Seems it goes on sale when money is tight around my house, maybe they plan it that way.  I'll catch it right eventually...maybe buy 2 of them! Ya...I figure the ASICS will pretty much kill the mining world for GPUs once they sweep across the network. Thinking that's still a couple of months off though. In the meantime, I say we all grab as much as possible. I'm thinking people saying it's no good mining either have gotten their ASIC already and can't imagine going back to the slow speed of GPU...are discouraging new miners for less competition...or, remember the early days where solo mining was multiple times faster than pool mining today and comparing to that. Whatever the case, what may seem an unworthy cause to one man may be the passion of another. As long as it's not costing me any more money in electric to try and mine coins, I'll take whatever I can get. I don't consider a new GPU as as investment cost that must be recouped because I was planning to get one for gaming anyway. Thanks again for the input. I actually just ordered my second 7870 and I will update you on how it goes and what my total hashrate is when I get it. This is the one I will soon have two http://www.newegg.com/Product/Product.aspx?Item=N82E16814125418It is a bit more expensive but I have got it to 450 Mhash/s which what I have seen 7870 XTs pull. Although I couldn't get it stable, crashed over night, I didn't tweak the voltages. So this might be a really good card for you. I am quite happy with it. Anyway, good luck! |
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Nvidia cards are not profitable unless you get your hardware and electricity for free
This. Also, I would consider mining litecoins over Bitcoins. The Bitcoin network is too strong for GPUs to be profitable. I have a couple things to add/ask about this thread: 1) While I'm somewhat inclined to agree that GPUs aren't profitable for BTC, there are certain cases where it's not totally true. Especially with $200 BTC and rising! As more ASIC machines hit the network, it may become completely impossible for GPU users to make any money. Of course, even then it depends on how high the perceived value of BTC goes...with $100,000BTC I could be happy mining .001 per day I think. But then, my lease contract states that my electric bill is at a fixed monthly rate no matter the usage...which is nice! Now for my other concern... 2) I'm planning to buy a new GPU soon for mining LTC and other coins + gaming. I've been thinking of getting a 7850 or 7870, but according to the "Tom's" chart these GPUs only get 250-265kh/s. Can anyone verify this is true? I was only recently introduced to crypto-currency and mining. Not wanting to waste any more time, I decided to jump in with the 5770 that was available already (also a 6450). With the 5770 I've been getting 200 kh/s or so. According to the chart here, stepping up to a 7850 or 7870 wouldn't really change things much for me. Right now I'm getting around 5770= 200kh/s + 6450= 38kh/s. I understand that LTC and BTC aren't the same, however the rate of calculation is comparable. What I mean is, with OpenCl & BTC I get 200 Mh/s where as with CGminer & LTC I get 200kh/s. According to the chart in this thread I don't see much motivation for trading in my 5770 on either 7850 or 7870. I really thought the newer, higher class GPU would make much more of a difference. Just wondering if that chart is accurate. BTW...Anyone have a used 7970 or 2 to trade/sell for cheap?? Thanks in advance for any replies to my questions here. Personally I still make money mining bitcoins ATM with one 7950 and one 7870, I make around 0.05 btc per day so 10 bucks and I pay around 1-2$ per day for my whole condo(not only PC) in electricity. With the 7870 from Asus I do around 420 Mhash/s overclocked; got it for 125$ on kijiji but that was really a bargain!! For gaming the 7950 is completely awesome. All game I tryed I could max out all settings and still have over decent FPS. With the 7870 in my GF PC she can still play most game in best settings. Bitcoins can still be profitable for GPUs just it may not last a long time longer depending on ASICs and what not. I have a Gigabyte 7870 OC and its getting about 440 Mhash/s so that chart isn't necessarily exactly what you will get. Or even close. |
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But if you are planning on selling near the top and these are the signs why wouldn't you just use them? I see no reason to switch to a fiat currency when you would already have the currency used in common exchanges, assuming your criteria was met.
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Hi all new to this cryptocurrency stuff so i missed the boat in a sense, what i need to know is how do i get ppcoins as it seems the only one i can afford? I got an address PXML5V6oHgpkATKScNiARAs3tMQEnTUL1M ? I think thats it?
Where do i buy them etc ?
Thanks in advance Richard
Vircurex has an exchange for PPC/BTC |
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I actually think these are good. I would rather have to wait than to have tons of spam in the other sections.
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430-450Mh/s on 7870 OC Edition.
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Thanks. Pushing 430 on BTCGuild and running fine in GUIMiner. I can definitely isolate the problems with the hash rate crashing to deepbit specifically.
No issues w/ p2pool in CGminer either.
No problem. I am quite new to this as well so I am sure there is a bit of room for improvement. |
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430 is what I'm targeting. What pool are you using w/ GUIMiner? I still can't solve the problem of the GPU dropping out after 10-20 minutes regardless of setting w/ deepbit.
I'm on BTCGuild |
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Running all night, I'm showing 413 Mh/s average in CGMiner at I 7 1200/750
Feels like I should be able to push this a bit higher. Curious about current hash rates of other 7870 owners.
I'm getting 430+ Mh/s on GUIMiner on my Gigabyte 7870 at 1225/1090 @68*C |
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