Hello, fellow bitcoin folk. I had an idea which I've been searching for.

Recently I've come across a need for a interesting pool setup. The pool would mine crypto-currencies on the quark algorithm using profit switching (between qrk, fz, cnote, src, etc.) and then auto exchange to btc. It would then cash out to a specified BTC address when the mined amount meets a certain threshold.

The reason I want to mine on the quark algorithm and then exchange to btc is very simple. I have a website and I would like users, who don't have special ASICs or superb gpu's, to be able to mine btc to an address created for them and then when this btc accumulates to a specified amount, they can exchange the btc on the address for my products. I can handle everything except the pool.

If a pool like this were to be established, it could be highly profitable for not only me, but any other business which wants to give users the ability to donate their processor power in exchange for free product.

In effect, it would be similar to a site like www.CleverMining.com, but based around the quark algorithm rather than scrypt.

If something like this exists for the quark algorithm, I would love to find out. If not, does anyone else have an interest in something like this?

Thanks,
LilGhost

Hello. I run a small software development business. I was wondering if let's say 30 computers mining at roughly 10MH/s each to the same worker would be at all useful? I ask because my applications that I sell/distribute are made to be used for extended periods of time. So if a user is running my software and my software automatically runs CGMiner on their system (yes, I would get their approval first via the TOS), would it actually produce anything?


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Edit:
Would I be better to use LTC?

Hey, I was wondering if amagi metals is down for anyone else? This has been on going for days. I open the main page with no problems, then I try to open another page and suddenly that page never loads.

Hi, I've done some digging on google but haven't come to a sure answer. Is it possible to daisy chain the RHB-500 (http://www.amazon.com/gp/product/B004F38WT4/ref=ox_sc_act_title_2?ie=UTF8&psc=1&smid=ATVPDKIKX0DER)? I currently run 6 miners and a fan (limit of 7 miners and a fan, but I'm playing it safe and only running 6). I'm looking to add a few more miners and was wanting to know if daisy chaining these usb hubs was possible? Thanks in advance.

Hi, I was wondering if anyone can vouch for coinabul or recommend any other legitimate precious metal for bitcoins sites. thanks in advance.

I'm wondering if there's like a walmart or amazon that accepts bitcoins. I'm not interested in an ebay sort of thing (like bitmit). I'm really only interested in something like a general store similar to walmart/amazon/target online.

I was curious if anyone was interested in doing a simple investment.

The market is changing and people who are pulling little Mh/s and small Gh/s simple are going to get cut out. So why not team together? We all know what pool mining it, but let's take it a step further.

The idea is simple: an investor sends money along with the bitcoin address to pay the bitcoins out to, the investor receives a percent of the total investment owned, the person who money was sent to buys a large mining rig better than most others, mining rig is received to the person who the money was sent to, the person sets up the mining rig and begins mining. Every two weeks the money is calculated like such:
(TotalBitCoinsEarned * .925)/1000 = PriceToPayPerShare
PriceToPayPerShare *  TotalSharesOwned = TotalBitCoinsWeOweYou

So let me explain that, TotalBitCoinsEarned is the TotalBitCoinsEarned in the 2 week period. That number is multiplied by .925 to remove 7.5% to pay for electricity and hassle on the end of the person who received the money originally and processes the funds. So thus at that point we're left with the money to disperse to the investors. We then divide that number by 1000 to calculate the total number of earnings per share.

So, let's say you own 50 shares and we make 10 bitcoins in 2 weeks:
(10 * .925)/1000 = X
9.25/1000 = X
0.00925 = X

X * 50 = Z
Z = 0.4625

That's 58.78 dollars (USD) on the price of $127.1 per bitcoin.

So let's say each share is $24.
You buy 100 shares.
You've invested $2400.
With your $2400 and shares from other people, we buy 8 TH/s worth of power.
The difficulty has exactly doubled and is now at: 225,257,098
Bitcoins are trading at: $131.57 (USD)

We would be able to mine ~17.861 BTC per day.
Based on that (17.861 * 14) would be 250.054 BTC.
This would mean we make 250.054 BTC in 2 weeks.
Now we take 250.054 * .925 to factor out 7.5% for power and hassle.
And we're left with 231.29995 BTC in profits.
Divide that by 1000 to get 0.23129995 as the price per share.
Multiply that by 100 due to your total number of shares and get 23.129995 BTC
You would be sent 23.129995 BTC which in USD is $3043.21 at the rate of $131.57.

This is a theoretical 2 week cycle using logical possible values. But based on that you would get your ROI + some in 2 weeks and you could continue to earn more every 2 weeks.


Just a thought. If anyone's interested in doing this sort of thing together, hmu.

Hi, I was wondering if there are any low cost USB hubs that transmit at least 500 mA's to each USB port.
Here are two equations it needs to meet:
TotalPrice/NumberOfPorts <= 5
TotalAmpsOfPower/NumberOfPorts >= .5

Basically this is saying the price per port should be under $5.00 and the total amps of power for each port should be 500 mA. I would also prefer if ALL port were data-transfer ready not 9 transfer ports and 1 power port.

I know this is very picky, but thanks in advance for any and all suggestions.

Hi, I was wondering what ALL the 500 GH/s and above miners are. Preferably some that can be shipped out today (not cointerra's unreleased stuff or stuff with BFL's "let's ship this 14 months after the order" policy). ASICs that can be shipped within 1 month of the order that mine above 500 GH/s.

Thanks in advance.

Are there other SHA-256 currencies which are used online and are fairly well established? If so, what are they? And, I believe the answer to this is yes, can a "Bitcoin ASIC" be used to mine these currencies?

Hi, so recently I made a post about wanting to buy 12 ASICMiner Block Erupters.
This would cost me about $329.33 for the fan, erupters and USB hub and it would only produce 3.96 Gh/s.

But butterfly labs sells a 5 GH/s Bitcoin Miner with a built in fan and power cord for $274.00 and $4.99 for the USB cord that comes with it.

So my question is, is Butterfly Labs safe to buy from now? I know they had shipping issues before, and I'm really not trying to wait 2 months or more for this product. So does anyone know roughly how long it would take to get the 5 GH/s from butterfly labs?

Hi, so I'm new to bitcoin mining, but I'm very interested in getting started just as a hobbiest. I have one problem though. I can see that bitcoin mining is primarily done via ASIC's and thus I'm prepared to order 12 USB Block Erupters with a 12 USB port hub and a fan that will plug into another usb port, but what I don't have a definitive answer on yet is what sort of software you need to install to make an application like GUIMiner or CGminer recognize and utilize these USB ASIC's for processing power. I know some people are using raspberry pi for this, but I've seen videos of set ups that are not using raspberry pi. So is there some special software or driver I need to install to utilize these ASIC's, or are they just Plug-N-Play (for lack of a better term)?
Thanks in advance.