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1462
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Bitcoin / Bitcoin Discussion / Re: I don't trust deepbit, but how come so many trust it?
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on: July 15, 2011, 10:37:33 PM
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Deepbit certainly has instant payout (without having to wait for the 100 block confirmations) but they charge the highest fees of any pool I've seen recently. Perhaps the highest anywhere. Why people continue to think they're making more money on Deepbit than on other pools is a mystery to me.
People don't like variance (unless it works in their favor of course, but who doesn't like that?). For many it's worth a small commission to be able to watch their BTC count tick up every hour on the hour. |
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1463
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Bitcoin / Pools / Re: [~5000 Gh/s] DeepBit.net PPS+Prop,instant payouts, we pay for INVALID BLOCKS too
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on: July 15, 2011, 09:15:39 PM
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At what point is the fact given that PPS < Proportional? It says that my part is 0.03% of the pools current speed... (~1200 MH/s of 4464 Gh/s) The average time to solve a block is 24 minutes in the pool - so the pool produces about 3000 BTC in 24h. Is the following math correct then? 0.03% of 3000 BTC is 0.9 BTC --- according to the PPS calculator on the site, I earn 0.69 BTC/day with ~1200 MH/s and PPS. Small deviations aside, does that mean that proportional mining brings me 0.21 BTC/day more?  I'm running right around 1200 MH/s and the last 24hr moving window has returned .74 BTC for me (though I had some down time so take that with a grain of salt). |
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1468
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Other / CPU/GPU Bitcoin mining hardware / Re: Building my rig
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on: July 15, 2011, 12:58:54 AM
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750W should be good enough to start off with. I'm running 3 cards off a 750W right now. The card you'll want right now is this one: http://www.newegg.com/Product/Product.aspx?Item=N82E16814102946&cm_re=5830-_-14-102-946-_-ProductYou can run 3 of them safely with that PSU (maybe 4, I dunno.. I never tried) which will give you just under 1 GH/s. Short of that, you should be looking for an HD 5870 or 5850 on the used market. I wouldn't pay more than $200 for the 70 and maybe $150 for the 50. If you want a decent mining AND gaming platform, skip the 5830s and try for the 5870s if you can get your hands on them. Else, get the 6950s which can be unlocked to give you 400+ MH/s and legit gaming performance too (BF3 is right around the corner!) |
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1469
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Bitcoin / Mining / Re: What is your mining speed?
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on: July 14, 2011, 11:07:57 PM
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If you buy JUST a video card and put it in an existing system it may pay off. Buying a system you already wanted and putting it to mining can take down some of your purchase cost and make it worthwhile. Buying a bulk load of systems can not pay off anymore. You will loose more in depreciation then you will make back in the first few months. Over the longer term the payout will be lower and lower and will not ever cover the full price of the hardware+electricity. Careful there. Sounds an awful lot like you're predicting difficulty and the price of the BTC. |
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1470
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Bitcoin / Mining / Re: Solitary worker vs. Multiple workers for a given hash rate?
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on: July 14, 2011, 09:50:29 PM
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Not sure what your question is. A hash is a hash is a hash. For pools? There is no advantage to having the same card generate multiple work threads, except that some people suggest that you might squeeze a couple extra Hashes out of the parallelized GPGPU structure. I don't really see it myself. Yes, this was essentially what I was wondering. Over the long haul it wouldn't really matter I supposed, but on the 0-minute "lucky" block solves where a multi-GH/s worker might only contribute a dozen or so shares before the block is solved, it could make a significant difference if indeed splitting the hashing power up into 2 or more workers makes a diff. |
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1471
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Other / Archival / Re: Pictures of your mining rigs!
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on: July 14, 2011, 09:40:56 PM
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I wish we could post photos of our racks so you could see what a serious mining farm looks like, but they are in a secure, professional hosting facility that does not allow photography.
Game, set, match. |
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1474
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Bitcoin / Mining / Re: What is your mining speed?
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on: July 14, 2011, 09:00:58 PM
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Like I said, risky. Risking a few hundred bucks makes sense. But starting a business -- this late in the game? A bit foolhardy if you ask me. IMHO it has always been risky getting into mining. At this point in the game though there's significantly less risk than there was for early adopters. At least now your gains/losses can be somewhat accurately gauged, whereas back then it was a total gamble. |
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1475
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Bitcoin / Mining / Solitary worker vs. Multiple workers for a given hash rate?
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on: July 14, 2011, 08:25:44 PM
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Is there any advantage to generating shares if you split up your bandwidth among multiple workers for a given pool with a set hash rate? Can a single worker be split between multiple GPUs? I guess I could simply try the latter out on my own, but I'd have to wait til I get home.
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1476
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Economy / Speculation / Re: usd price to follow block number?
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on: July 14, 2011, 07:47:51 PM
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Bitcoin currently has 6814250 coins in existance, and is inflating at a rate of roughly 8000 coins/day, or about 43% annually.
USD has historically inflated at a rate of about 3% annually.
I bet 43% of 6814250 is a whole lot smaller than 3% of whatever the number of dollars in existence is. |
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1478
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Bitcoin / Mining speculation / Re: If you're thinking buying mining hardware, read this first
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on: July 14, 2011, 06:18:56 PM
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If you think now is a bad time to invest in mining, it was even worse for the early adopters 1-2 years ago. At least now you can expect somewhat of a return for your money. Early adopters were looking at absolutely zero for their investment.
except now those pennies they were making became thousands of dollars how terrible for those early adopters B-b-but early adopters shouldn't have mined Bitcoins to begin with because it was unprofitable! |
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