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If you regret losing about $20 on a coin investment short-term, which could turn into a profit long term, I'd suggest maybe doing neither until the market stabilises, or trying to think of a service you can provide for coins to limit your risk.
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Difficulty is doubled now , and the value of BTC has lowered , so the profit will be negative if you keep these prices.
If difficulty continues to rise and BTC prices do not rise with it, of course mining will be less profitable. However, this is unlikely to be the case for very long. If Bitcoin price and difficulty collide so that mining is no longer profitable, people will start to switch off their miners. This will cause difficulty to drop such that mining is profitable again. Obviously any time you make a business decision, you are expecting certain outcomes. In the instance of renting mining contracts, you are betting on the price of Bitcoin (long term) rising around the same amount as difficulty. Recently it has risen far more than mining difficulty. Another thing you neglect to mention is that the price of Bitcoin is falsely deflated because Mt Gox, Virwox and Tradehill have stopped trading for about a week. I'm willing to make you a fully function website for 2 weeks of your service.
Thanks for the offer but I need to decline, I need more capital to expand my mining operation. |
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 I can play games on my windows while mining... just saying... I can do this in Linux but lose quite a few hashes as I have to turn aggression down from 13 on one of the cards. |
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great thank you two! im getting 280 Mhash/s now and im more than happy with that. I have one more question though, maybe you can help me with that also  i cant decide between Slushs Pool, Deepbit and BTC Guild, which of the three could you recommend? and should i choose pay per share or proportional with my relatively low hashrate of around 300 Mhash/s in total? hope you can help me with that oen too You should use mineco.in, has zero fees and splits the transaction fees too. Also you can get more than that out of a 5830, assuming you're using Linux, try doing aticonfig --adapter=all --od-enable then aticonfig --adapter=all --odsc 966,180 Keep an eye on the temperature but a 5830 should run that clock fine and get around 305MH/s. |
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I have a few BTC to trade for L$, but they are tied up at Virwox.com atm. They halted trading the BTC/SLL pair when mt. gox got hacked and haven't resumed trading yet. I just sent their support an email to ask when and if they will resume. If they don't resume soon, I will have to make a withdrawal and possibly make a few trades with you. I'm heavily into scripting LSL and php/mqsql web portals, and might even consider setting up my own exchange. I'm currently playing around with google's appengine to see if that could be a viable platform. I already made one app on it that is quite useful to the SL community. I takes feeds from my landbots and posts the most recent cheapest land for sale on a website. Check it out if you're interested at http://landbot101.appspot.com. Cheers! Steveo Mellow Second Life - Sand Bay Estates Sadly I'm all out of L$ stock right now, just sold 120,000 this morning to one buyer. |
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I get about 15MH higher off each 5850 in Linux over Windows.
Also you can use my awesome Autominer script in Linux (makes mining the laziest process ever).
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Welcome to the Bitcoin Virtual Currency ExchangeI realise that I've already created a number of threads for trading to individual currencies, so I'm trying to combine all of those threads into a single place of trade.Here, I will buy and sell several virtual currencies for Bitcoin, meaning that you'll always have access to the currencies you want, when you want them. Right now, I'm dealing in the following virtual currencies: - Second Life Lindens
- Namecoin
The prices are entirely based on the current USD to BTC exchange rate of $17.50 to 1.0, and they will fluctuate based on that exchange rate, as well as the varying values of virtual currencies. Currently Buying Currencies At:Linden Dollars - 5,100 L$ for 1 BTC Eve Online ISK - 900 million for 1 BTCNamecoin - 40 for 1 BTC Currently Selling Currencies At:Linden Dollars - 4,400 L$ for 1 BTC Eve Online ISK - 650 million for 1 BTC (1 PLEX for 0.7 BTC)Namecoin - 25 for 1 BTC If, for a specific currency, there is a large gap between my buy rate and my sell rate, it is because right now I either have a lot of the currency in stock and as such don't need much more, or it sells very slowly. My OTC web of trust ratings can be found in my signature.[/list]
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Mom's Basement Mining ContractsWhat is This?
I'm going to be selling mining contracts (not based in my mom's basement, sadly) on dedicated mining rigs. These rigs are built using high quality branded products, and will be GPU mining via the pool of your choice directly to your wallet (if you don't have any account details, I can set them up to mine for you on Eligius, my pool of choice, as it only needs your receiving ID).
The main reason I'm doing this is to fund an expansion in my own long-term mining capabilities, not to make a huge wad of profit from you. Because of this, I'm not going to be charging the high fees that are currently ongoing in the contracts market. This does not mean you will have to wait for your mining operation to come online, I have rigs already mining and assuming I have the capability online right now, they will be shifted to your account upon purchase of services to give you an instant startup. Obviously, if you order more than I have in place, I'll let you know what the delays should be.
A lot of mining contracts out there don't seem to be profitable, but these (the MH-800 and MH-1200) are going to kick that trend and offer decent outcomes for you even if you're just looking for pure $ profit (obviously, this depends on a decent GH/sec to dollar ratio). Advantages of Contracts
Advantages over buying Bitcoin on the market are:- No risk of getting stolen bitcoins, all BTC are newly generated
- No risk of getting your money stolen by a scammer
- No commission fees, market depth issues or exchange delays
- Output based purely on difficulty, not exchange rates
There are also advantages over buying your own mining rig, mostly boiling down to:- No chance of downtime issues or damaging your components
- No need to deal with electricity costs, noise, heat etc. just pay $ and get Bitcoins
- Don't need any technical knowledge to get the best out of it
Purchase Information
These contracts are going to run for a minimum of 13 weeks, but I'll allow you to extend your contract for an extra four weeks at the same price per week as the first 13 at any time before it expires. Payment will be in advance 100% (for 13 weeks) via bank transfer, Liberty Reserve or Bitcoin.
If you want to pay in Bitcoin, we will discuss the price at the time of purchase, but it will probably be done at or around Mt Gox last price.Pricing & Profitability
$ Output is calculated at today's (15th June 2011) difficulty of 877,227 and today's Bitcoin price of ~$20. At this rate, you would get 0.00114 BTC per MH per day, or $0.0228 per MH per day. As difficulty and Bitcoin price are linked, the best we can do to calculate profitability is assume that a MH keeps around the same profitability (although the profitability of 1MH has definitely risen over the past month, which would work in your favour if it continues). | | Contract Type | MH/sec | BTC/day | Price (1wk) | Price (13wk) | $ Output (13wk) | Exp. Profit (13wk) | Available | | MH-400 I | 370 | 0.42 | $52 | $676 | $767.67 | $91.67 | Now | | MH-800 I | 740 | 0.84 | $84 | $1092 | $1535.35 | $443.35 | 1 Week | | MH-1200 I | 1110 | 1.26 | $115 | $1495 | $2303.02 | $808.02 | 1 Week |
Obviously, none of these profit margins are guaranteed, they are simply a model at today's value per MH which could rise, fall or stagnate. BTC/day is based on today's difficulty, and is subject to change during the contract period.Price Comparison
I don't like comparing this service to Vladimir's or Bitcoin Rigs', because we are all serving different markets for different purposes. Having said that, I feel compelled to compare simple 1GH/sec prices across the market for an easy glance. Check out all of the services and see what you want. This table is correct TO THE BEST OF MY KNOWLEDGE. If you spot an error, let me know.| Service | Vladimir | Bitcoin Rigs | alexdrans' 400 | alexdrans' 800 | MH-400 I | MH-800 I | MH-1200 I | | Per 1GH/s/wk (US$) | $158.41* | $192.31 | $144* | $135.50* | $159.46 | $113.51 | $103.60 | | Min Size | 1GH/s | 1GH/s | 0.4GH/s | 0.8GH/s | 0.37GH/s | 0.74GH/s | 1.11GH/s | | Min Length | 4 months | 3 months | 1 month | 1 month | 3 months | 3 months | 3 months | | Zero Variance | Yes | Yes | No | No | No | No | No |
As you can see, I can offer some very flexible contracts in terms of GH/sec (three sizes to choose from) and also the lowest prices, alexdrans offers 1 month contracts, which seem to be attractive. Vladimir offers zero-variance and is a Limited company (I assume this means he can give you a VAT receipt if you're in the EU). We are all different services aimed at different customer bases.
* For Vladimir's and alexdrans' service, I have used the xe.com GBP to USD conversion rate of 1.62.
I have assumed Vladimir's month is 4.5 weeks or 31.5 days, and that Bitcoin Rigs' 3 months is 13 weeks.FAQs
Admittedly some of these questions aren't really 'frequently asked', they're just ones which I think you might ask. If a question is frequently asked, or I just think it's a great question, I'll add it here.
Do you do shorter contracts/can I pay monthly or weekly?
Sorry, I'm not able to offer credit agreements. The only way you will be able to pay monthly or weekly is if you use a credit card to buy LR or Bitcoin and pay your credit card off monthly or weekly. I am also unable to offer shorter contracts, as the idea of these contracts is to forego the profitable short term mining to fund a long-term expansion in my mining capability.
What uptime do you guarantee?
I will guarantee zero downtime via the following mechanism:
- For each of the first 24 hours of downtime, I will add another hour to the end of your contract.
- For any hours beyond 24 of downtime, I will add two hours to the end of your contract instead.
Can I have shell access to my rented rig?
No. I can't offer uptime guarantees and shell access, and I can't risk one of the cards being overclocked to the wrong specifications. If you want me to run a specific miner or a specific set of options, or something other than Bitcoin (Namecoin, F@H, whatever), then I am willing to do so upon request (assuming it's not malware or illegal).
Can you offer zero-variance?
I could probably do this upon request for an extra fee of around 10%, but it's not a part of my mainstream plans.
Where is your flashy website?
I haven't made one yet, but it will come soon™.
What hardware equipment are you using?
My rigs run on AMD Sempron 140, AMD Sempron 145 and Intel Celeron E3400 processors, DDR2 & DDR3 RAM, 7200RPM SATA hard drives (USB flash drives fail often), XFX / Corsair Power Supply Units (650W/750W for MH-400 I and MH-800 I, 1000W for MH-1200 I) and XFX / Sapphire Radeon 5770, 5830, 5850, 5870, 5970 and 6970 GPUs. Most run open-case and no GPU cores run above 80C.
Can you guarantee hash rates?
Mostly your hash rates will be a little bit lower or higher than what has been specified (no more than 5% variance), but if I can only get 5830s due to the market, they could be a little lower. I will let you know before you pay if this is the case, and will discount your prices accordingly.
If you do get a very low hash rate (more than 5% below quoted, as there will always be variance) then you will be compensated in Bitcoins for the expected value. Please don't think this means that if you end up with 1102 on a 1110MH rig, that you're going to be compensated. Hash rate will be judged by the mining applications, not by any pool stats which are often inaccurate.
What software are you using?
My machines run regularly updated builds of Arch Linux, AMD Stream SDK 2.4, latest Catalyst drivers. I prefer the phoenix/phatk miner, but can use phoenix/poclbm or diablo if requested.
What customer support can you offer?
I can offer support via IRC (FreeNode), by e-mail or by the forums. I'm working on a web-based interface to monitor downtime, but for now we can use the mining pools' stats pages to monitor that (I use eligius by default, which has no registration and just pays directly to your wallet).
Who are your customers?
My customers have a right to privacy, and I will not be sharing their identities. Should they wish to comment on the quality of the service, that's their right, but they have no requirement to do so.
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./phoenix.py -q 3 -v -u http://... -k phatk DEVICE=0 WORKSIZE=128 BFI_INT VECTORS FASTLOOP=false AGGRESSION=13
Change WORKSIZE to 256 if you have underclocked your memory.
AMD Stream APP SDK is the OpenCL software development library which is required to interface with your cards in the way needed to mine Bitcoin.
AMD Catalyst is the graphics driver software which tells your computer how to recognise your graphics card, and allows you to overclock it & monitor it.
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Just hit our 4th block after 3 days, then 5th after 11 minutes.  HOPING NO INVALIDS! |
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Do they have the Atlas Shrugged movie?
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Please can you add https://mineco.inWe have provided JSON api for you to use for the pool, and per user/worker. Seconding this request. This is the most exciting up and coming pool. |
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So we know that any review from Jessica is valueless. Now nobody is going to buy your service AND even if you leave a legitimate transaction review, no one will believe it.  |
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3 lines, smaller (non-modifiable) type size, no images.
I tend not to mind images when they're the 20-30px high 'banner' images like SgtSpike has, but some images can be pretty obnoxious. |
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How much for shipping to Europe?
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Bump, another contract went live today, MH-1200 I is running at 1109MH/sec.
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I got it working, but I changed it to start from device 1 (not 0), so, 1,2,3,4 for all the numbers in the card file that were under 0,1,2,3 sections.
also, not sure how screen works, but closing seems to be an issue, only ghosts the programs.
After the necessary edits, this looks like a great program.
You mean closing the main loop? It doesn't kill all the screens, I will have to write a closing script at some point, for now assuming you run no other screens, 'killall screen' will give you a clean close. |
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You can go past 4 GPUs, I think I removed the checker for >4. I just didn't add more than 4 to cards.lib because 4 is the most I run in one machine.
You will need to set the geometry for the 5th Xterm though in cards.lib otherwise it'll spawn over the 4th one. You'll also need to add 3 rows to temps window in startmining.sh.
Also, thanks for testing.
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XFCE is X11 based, as are (I think) all Linux desktop environments.
If AMDOverdriveCtrl is working, you shouldn't need to change anything.
If you're unsure, go to command line and type 'aticonfig --adapter=all --odgc'.
It might come back telling you to enable Overdrive, in which case type 'aticonfig --adapter=all --od-enable'. Then this will work fine.
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I'd like a sub-forum, as I offer to buy and sell BTC for ISK, SLL and NMC without fees. All of the exchanges have fees and are often difficult for non-US members to use.
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