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1  Bitcoin / Mining / Can I mine on my webhost? on: June 07, 2011, 04:00:29 AM
Okay just to get started immidiatly I wondered if I can use my server on hosting24.com with unlimited everything to mine on.  I have full access to cpanel make email ect. If anyone could help me set this up I will give you some of my 1st profits?  And if it is not possible then is there any open source pooled mining code I can upload, not for a service but just for me to link all my various laptops desktops into one.  Kind of like a private pool lol.  Again thank you for your help.
2  Bitcoin / Mining / Now that I ran some numbers...help me choose on: June 07, 2011, 03:42:42 AM
Someone calculated at the current rate 3gh/s will make about 700 coins by the end of the year then it will get so hard you will only be getting fractions of coins every few days.  But someone else posed a good point:  the rapid inflation will stop and the difficulty will fluctuate and eventually settle at near the same rate.  However if 3gh/s is 700 coins my about 1.5 gh/s assuming i start in the next month will only make about 200 coins.  The problem is if miners realize that they are not making enough money to keep repairing their systems the difficultly would go down but then just to make them start mining again and it will go back up.  Finally when the miner stop mining some of them will decide to sell off their bit coins and crash the market.  With not much to purchase with bit coins yet, this is wear I ponder if the long run will be worth it.  I know no one can predict the future on what will happen with bit coins, but my prediction is pooled mining will take over and i want NO part of that.  So please help me decide if I should jump in or if I am to late to the game.  Also I know I have posted about this before in replying to other post, but I just want to get some more thoughts on it.  Thank you for all of your help! Smiley
3  Economy / Marketplace / Need Loan for mining on: June 06, 2011, 09:55:50 PM
Hello I posted an investment plan but did not get any interested people, so I need someone to loan me 2 blocks of bitcoins and I will repay you with 3 blocks as soon as my mining rig gets setup, the rig I am looking at building will do about 1.6 ghash/s this will get one to two blocks per month according to the calculator.  So this will be about a 2 month investment and you will profit greatly.  If interested post here and if I have more than one offer I will take the best one like if one person says I will do it for only a half block interest or something like that.

EDIT:
Now this is the deal still 2 bitcoins.  But you get part of the profit for 6 months after I pay you back the 3 blocks.  The percent you get for 6 months you can send me an offer.
4  Bitcoin / Mining / My thoughts on pooled mining... on: June 06, 2011, 09:25:30 PM
First off let me say DO NOT hate on my opinions just because you do not like them.

Okay with that out of the way I want to talk about pooled mining and the pros and cons of it.  Due to the fact bitcoin is open source there is nothing we can do to change this except get people to break their pools up.  My main concern is deepbit, they almost have 50% of hash power.  The only reason this worries me is because solo miners will not want to mine the 30 dollars a day when they have to compete with a pool mining at a much higher rate.  I believe that if pooled mining is not subsidized or broken up at least that soon deep bit will have controlling interest in the bitcoin price.  They can basically produce 90% of all coins found right now and that is bad because all the fees they are making means they can choose when to sell coins.  What does that mean for the unlucky solo miner?  Well if deepbit lets say accumulates enough fees to have 10,000 bit coins they can easily cause a market crash selling all of them at once.  For the solo miner trying to pay his bills this means he will not be able to continue to efficiently run his mining at the current rate.  I said before that the only thing we can do is break this up, but another option would be to only allow CPU miners to pool and not these 4gh/s miners to all pool in together and dominate the bitcoin market.  How to you do this with an open source project regulated by everyone?  Well that is the problem and I currently am still pondering a way to solve it.  Please post you thoughts and if you think this is a problem or if i am just crazy.  Thanks and happy mining.
5  Bitcoin / Mining / Centralized place for mining deals! on: June 06, 2011, 08:35:44 PM
Hello this post is a post that I will update every time I find a current deal on the internet for mining equipment.  I know people post deals but this is a centralized location for all of the deals for mining.  If you have a good deal please post a comment with the link price and is it a rebate yes/no, thanks to anyone who post! Smiley  Right now i will include everything except cases as you do not really need one but if you want a good rac mount case check this link:  85$ with S/H  http://www.plinkusa.net/web4038.htm

Want to donate for my work?  MiningBuddy freaked out and said i should not beg, so I removed in case any one else feels the same sorry guys I just though I would put the option up. Smiley

Video Cards:
Radeon 6990:  605$                http://www.cenfonix.com/product_info.php?currency=USD&info=p7638_Sapphire-Radeon-HD-6990--2x-2GB-GDDR5--DVI--4x-mini-DisplayPort-.html
Radeon 5830:  99$ after rebate http://www.tigerdirect.com/applications/SearchTools/item-details.asp?EdpNo=365456&Sku=P450-5837
Radeon 5970:  540$                http://www.cenfonix.com/product_info.php?currency=USD&info=p7611_Sapphire-Radeon-HD-5970--2x-1GB-GDDR5--2x-DVI--mini-DisplayPort-.html


Motherboards:

Will update more soon just wanted to get the post out there because the 5830s are going fast!
6  Bitcoin / Project Development / My investment Plan--need investors on: June 06, 2011, 03:32:45 AM
Before I start I know this is project development so if it should be moved can someone please tell me, I though this is a project that needs to be developed Smiley

Hello, I know I am brand new to this forum and probably should have built up some reputation before I did this.  But all that aside I need investors, people who want to jump on the bandwagon of bitcoins but do not know enough about computers to be a miner.  I will be making a server for mining and for every block I mine this is how it splits up:  

There are 50 coins in one Block
the investors will get 60-70% of all of the money made--the more investors I have the more you get of the profit.
I get the other 30-40% and this covers all of the equipment repairs power ect.  
Payment will be every time i get a block.
You will have the ability to go on a website called ustream to view the computer live to see how the mining is going.

What I need:
Well to start mining I need about 800$ I have currently 100$ so I need 700 more.
If you invest the remaining 700 I will let you have the 1st 2 blocks which are worth about 700 each i think.
If you invest at least 500$ then you get 1.5 blocks.
If you invest at least 300$ then you get 1 block.
If you invest at least 100$ then you get .5 blocks (25 coins)
If you invest any less than that you get the 60-70% of the investors earnings divided by the number of investors so if there is 1 block to split between 10 investors then you would get 3-4 coins per block.
For every coin I make from my part of this at least 70% of that will got to equipment upgrades.
the other 30% of my profits will go to power and about 10% of the profit I make after I take your share out goes in my pocket.  
Thank you for reading this and if you have any questions please ask!

Ways to invest:
Bitcoins- I will sell these and then buy equipment and I will upload picture proof of me receiving the equipment.
Paypal- I have to make a new paypal but I will do that when I finish changing banks this week.
If you want to buy the equipment and send it to my address.

This is what I will be purchasing:
Chassis                                       IPC-4370S 4U              
Power Supply                               Antec CP-1000 1000W,  
Motherboard                               MSI 890FXA-GD70    
CPU                                               AMD Sempron 140      
Memory                                       2GB DDR3                      
Graphics card                               Radeon HD 5970   
Storage                                       Kingston 30GB SSD      

This will give us about 750-800 mhash/s and I will upgrade the video cards as i get more money.
What makes me better than most investment plans?  I will not allow any more investors in when we get the 700$ in investments, so the more you invest the more you mak in the long run.

How long will this last?
It will last at least until all of the investors have been paid off AND they have made 3 to 5 times their investment (just depends how many investors we have)  
If you want to be in this for the long run then I will do that but you will get less per block made like 30-40 percent.
If you want to make the short term profit with long term investment then I will require you to pay a yearly fee for server upgrades it will only be like 100 dollars or something like that.

Concerned?
You can pay me however you like and if you have worries of me scamming you well I can sit here and tell you I will not all day but really it is your decision and I hope that someone will invest. Smiley
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