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Here's a snapshot I took right before Blockchain went down on the 17th. Two blocks go missing. Next millions of BTC get paid out. I know this looks to be a glitch of some sort but could someone please explain in simple terms how and where blockchain.info gets its information?  |
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My (perhaps limited) knowledge is that mining in a pool will give you more consistent payouts, as you've got the power of the pool behind you. With solo mining, it's a crap shoot. You could get a block on your own in minutes (so very unlikely) or months, if ever. I decided to join a pool to build up a coin-base. If I ever had super high gh/s, perhaps solo, but I just don't think it's worth it to me.
You got it. Mine in the pool and you're guaranteed a payout. It's extremely difficult to find a block all by yourself unless you have insane hashing power under your belt. Imagine mining for months and not hitting the jackpot. People use pools because they earn little by little all the time; instead of hoping they eventually hit a block, they'll know they'll hit one as a group and will take a portion of the reward based on how much hashing power they're putting into the pool.
You can attempt to mine solo to claim the reward all on your own. Just don't get discouraged if you don't find one for a while.
not only a while. A year for most of us, except if you have 7500GH/s  Didn't know that! Now solo mining really is out of the question  lol not really that high speed, but slow speed really doesn't yield anything. So as a rough guide, at which speed would you have better luck solo mining vs pooled? Has anyone compared say 3000khs solo and pool simultaneously for a set time period to see which is the better choice (in regards to ltc)? |
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Lol was just kidding. Looks like you put a lot of work into the videos. Might check them out.
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If its not free its not worth buying; The Bitcoiner philosophy.
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Why do real-life arms dealers sell their high-tech weapons, rather than keeping it themselves and invading a poor war-torn country?
The ASIC manufacturers know that as more and more ASICs start mining, the network difficulty will go exponentially upwards. GPU miners will become like CPU miners of old. Soon you will need a 10 Ghash/sec rate just to earn 0.1 BTC/day. So ... they see the future and the writing that is already on the wall. They will make more profit selling the weapons rather than having the headaches of trying to run a poor country for themselves.
Don't think using weapons to invade a country is the same as using electricity to mine coins. If they were to put all their miners to work today the manufactures would still have an upper hand for quite some time. But on the other hand it is less risky being the middle man. |
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Buy tons of BTC on BTC-E transfer to gox and sell.
lol i'm confused can you spell it out better for me. BTC is usually cheaper on e-BTC than MtGox. Therefor buy on ebtc, resell on mtgox and profit. |
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I just don't get why anybody who has successfully built one would ever sell one as they can make far more from keeping it than they ever would from selling it.
By selling to others they would be making their own machines less profitable, as soon as you have one you would soon be able to afford more.
They must have determined that they will make more money in the long run by selling ASICs than by using them. But if that's the case then why aren't they marking the prices up 10x since the demand is so high? I too am concerned about these ASIC distributors' motives. |
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Hi all,
I have been to literally hundreds of websites in the past week researching Bitcoin and other crypto-currency. Yes, I am a n00b. From what I have gathered so far however, there are a few simple ways to get BTC into your wallet but not without their own respectable drawbacks. Here are some:
1. Ebay - Ridiculous markups up to 100%+
2. Craigslist - Human interaction :/
3. Mt. Gox / BitStamp / e-BTC, etc. (Exchanges) - Slow turnaround, shady business practices, hax0rs
4. Tradebitcoins.com and other local coin exchange search - Many legit, many scams
5. Blogs, forum post - Informative, useful material
6. Mine - Hardware costs and difficulty
7. Sell your own goods & accept coins - Low interest and acceptance of BitCoin atm but this is the ideal concept
That is a short list aside from those websites everyone wants to avoid (fill out surveys for free bitcoins!). If anyone has more please contribute to the list. I still haven't found a definitive answer yet. Like the title says choose two; If its easy and quick, its most likely not too safe.
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Digital currency creation is directly linked to electricity usage. I don't know this as fact but Bitcoins seem to be the oldest and most mined crypto-currency to date. They have used up the most resources (electricity) so far and continue to do so as more miners join the game.
I believe this contributes a lot to their current monetary value. Now with ASICs joining the game which are more energy efficient it might change the current situation.
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Not sure why but it seems like everytime i refresh e-btc all the prices are out of whack.
More exchanges need to get on ltc.
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Just got the same x3. Haven't run them yet but a little concerned about how loud theyll be.
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Technical analysis is your friend. For a while it was looking like a pump and dump but now it is correcting itself.
Learn the basic trends and candlestick formations and you can start trading btc like any other commodity or currency.
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Always sunny in philly. Charlies my homie
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Avicii, Guetta, Aoki, Tiesto, etc. Clears the mind.
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