Hello!
IMO every newbie to mining should start mining altcoins and study how it works and then mine BTC or any profitable coins but remember, more profit the coin is, more difficult to mine it
Kindly,
Muhammed Zakhir
When you refer to newbie, are you talking about yourself? When multicoin pools switch coins they pick the one that has a lower difficulty relative to it's price. I think you're a little confused  Yeah! Multicoin pools like eobot mine profitable coins. What I said was when you mine using your own hardware it will be difficult to mine more profitable coins like BTC & LTC as their difficulty are high and are rising now too! You misunderstood what I said.  Kindly, Muhammed Zakhir OK I understand what you meant. Yes it will be more difficult, but as long as it's the more profitable coin it's worth it. Would you climb 1 flight of stairs for $1 or 3 flights of stairs for $20? That's a nice question. But for a newbie I don't think they can afford a good miner. Without a good miner, it would be useless mining profitable coins nowadays. So I just suggested mining less profitable coins and they can buy good miners later. In this way they can get some money and they can study all thing about mining too. Kindly, Muhammed Zakhir |
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It really depends on you going to spend your time if you don't spend it on BitCoin faucets. I prefer my friend to do faucets then to play Dota 20 hours a day.
I agree. I have over 1500 hours of DOTA playtime on my steam account. If I had spent that time on faucets to click once per hour (easy to do). I would have had 0.01500000 BTC. If I had spent those BTC on Blackcoin when they were 1000 satoshi each and sold them @ 90000 during the massive peak I would have 1.35000000 BTC. Faucets are worth it if you save up and invest in trading on promising coins.  Yes well if you walked outside of banks and supermarkets looking for change you could find $15 worth in 1 day (which is more than 0.015BTC) and if you put that into AAPL or Google stock in 2005 you would own more than 1.35BTC. Can't live in the past. Just alter future behavior. How much is your time worth? You are right. But for newbies it would be good if they use faucets. Landofbitcoin is best faucet rotator, they can earn some from it.  Kindly, Muhammed Zakhir |
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I changed my paying address in pbmining to 17uWCajedEVHJgds2Fzm752By1YVG4wPN2 . A final approval from the pbmining is needed for changing the address and it will change in 48 hours. I will not change the address unless you get enough Bitcoin or you tell us to stop mining or after ~1 month. I hope you will get the whole Bitcoins back in a week. Kindly, Muhammed Zakhir +1 Thanks Muhammed !! I like to help others. Its our duty to help others if they need help. Please change your signature for at-least 1 week. You can copy mine and paste it or create a new one with more details. If you are participating in a campaign, send the Bitcoins you get to 17uWCajedEVHJgds2Fzm752By1YVG4wPN2 .Kindly, Muhammed Zakhir |
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I changed my paying address in pbmining to 17uWCajedEVHJgds2Fzm752By1YVG4wPN2 . A final approval from the pbmining is needed for changing the address and it will change in 48 hours. I will not change the address unless you get enough Bitcoin or you tell us to stop mining or after ~1 month. I hope you will get the whole Bitcoins back in a week. Kindly, Muhammed Zakhir |
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They're selling it now though, so that's completely pointless comment. It's not pointless at all actually. There is nothing on our web site to say that the customer will be mining with the same hardware for 5 years. You quoted the first sentence... If someone sold cloud mining on that Avalon machine a year ago they had to buy it in the first place now it's not worth anything in relation to some new hardware like a Terraminer so no money to upgrade that hardware. If there was more efficient hardware in the future that has no relation to selling a GH/s now 27/06/14. Even if they bought the new future hardware it wouldn't be free would it? and the hardware isn't free to buy now is it? A 800TH/s data center isn't free either. Hardware goes down in value rapidly meaning there's nothing to pay for the new hardware. At 0.5w/GH/s efficiency it's over $2 for 5 years for 1GH/s this efficiency doesn't exist yet it's much more. Electricity alone for your contract in one of the cheapest areas in the world, on efficiency that doesn't exist yet is over you cost per GH/s You are very limited in your point of view. Maybe (and I say maybe because I don't know how this business model work) they buy hardware for x and sell it for y resulting a profit of y-x=z. The z doesn't all go into profit but a part goes in reinestments, a fund for future upgrades and future expansion, because, as a business you have to think of this parts. You just assume that they all take as profit but I'm know for shure it doesn't work like that, because I have a business (not btc related) but the principles apply also. 'your view is very limited' Your understanding of mining is obviously limited the product x uses electricity....... Electricity alone for the 5 year contract in one of the cheapest areas in the world, on efficiency that doesn't exist yet is over the cost per GH/s at $2 No, not only your view is very limited, you are as a person (this is for beying a smart ass) ) It uses x electricity now, it will not use x electricity in the future. Anyway, you don't have any understanding how how a business work. If you use just math like you are doying, well let's say if you put 10 dollars somewhere ( like in your wallet) it's imposibble to have in a year $11 or $9, you will have $10 exactly. But if you use economics and if you put $10 somewhere (like in a business, or a fund) in a year is very probable you will have $100 or $0.1. Anyway, it's preaty clear you have no ideea how a business work and you just assume 1+1 always equals 2. If this would be the case it would be impossible for a business to grow if you invested $100, because math forbide it, but it's not like that. Math is running the computer you just wrote your silly comment on. It's quite well respected and it clearly shows. Electricity alone for your contract in one of the cheapest areas in the world, on efficiency that doesn't exist yet is over your cost per GH/s at $2. I just had someone from Saskatoon, Saskatchewan, Canada say I'm going to get 'shit on' thanks pb... no terms of service, mixed coins, no pictures, less than the cost of electricity for the term. Facts not Fud. Now Groupbitcoin offers some pre-orders which seem promising. Pb mining is asking for no fee but they ask some fee at the time of buying. Some people have doubt that whether they are doing a Ponzi Scheme than giving BTC by mining. I have the same doubt too as they aren't giving a photo, same deposit address for everyone. It is legit but don't know whether it is a legit mining group. Kindly, Muhammed Zakhir |
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Hello! Many are saying online wallets are bad but I think unlike others blockchain.info wallet is safer and better. But still there emerge a question, What if it get hacked?A simple answer is 'Cold Storage'. Now you can make a 'Cold Storage Address' or use current address as 'Cold Storage Address' using blockchain.info wallet. You can follow these easy steps for making your Blockchain.info wallet safe! 1: Make a new address if there is only 1 address in your wallet. 2: Go to 'Import/Export' tab and click 'I Understand' and then click 'Paper Wallet'. A pdf file downloads. This is NOT "cold storage". You do not understand the meaning of "cold storage". Please do not confuse the newbies. What you are describing is a "paper wallet". That is why blockchain.info calls it a "Paper Wallet". "Cold storage" is an address that is generated on a computer that has never been connected to the internet. I know Paper Wallet. Why I said download.pdf is to help others from getting confused when downloading. What I meant is removing the private key but keeping track of our payments. In this way it is more safer when using blockchain.info wallet. Kindly, Muhammed Zakhir |
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1. An address generated on an online computer cannot be considered as a cold address
You can just use watch only option, so that your private key will not be in our account. So that we can see received payments although we can't send any Bitcoin unless we import Private Key. 2. Excessively reusing an address is usually a bad idea
Yes, you are right but it is better to use it like a 'Cold Storage Address and removing private key from the account than putting our private key in our account. Kindly, Muhammed Zakhir |
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Hello! I am ready to give you and I don't want any interest. If I had seen this post a few days ago I could have give you more but now I have only some as I bought Ghs with some BTC. Please tell me how many BTC you want, I will try my best to give you. Kindly, Muhammed Zakhir |
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Blockchain.info wallet is much better! It doesn't save passwords in it server and therefore, keep our account safe. You can look this post for making your account more secure. Kindly, Muhammed Zakhir
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Hello! Many are saying online wallets are bad but I think unlike others blockchain.info wallet is safer and better. But still there emerge a question, What if it get hacked?A simple answer is 'Cold Storage'. Now you can make a 'Cold Storage Address' or use current address as 'Cold Storage Address' using blockchain.info wallet. You can follow these easy steps for making your Blockchain.info wallet safe! 1: Make a new address if there is only 1 address in your wallet. 2: Go to 'Import/Export' tab and click 'I Understand' and then click 'Paper Wallet'. A pdf file downloads. 3: Go to 'Receive Money' tab, then click 'Actions' of the old address(address you use more often to receive BTC) and click 'Archive Address'. 4: Go to 'Archived' tab and then delete the archived address. 5: Now copy the address and paste it into the first column and click 'Add Watch Only Address'. 6: Now you have a 'Cold Storage Address'. Note: Print your 'download.pdf' file of the You can't send Bitcoin from the 'Cold Storage Address' unless you import the 'Private Key'. After you import your address will not remain as a 'Cold Storage Address' and if you want to make it 'Cold Storage Address', you can follow the above steps again. Or You can generate a new 'Cold Storage Address' by clicking 'More Actions' in 'Receive Money' tab and click 'New Cold Storage Address'. Remember:- You have to send Bitcoins from other address manually and every transaction you make generally costs 0.0001 BTC. It is better to make the current receiving address as 'Cold Storage Address' than making a new oneIf there is any mistake or any doubt feel free to ask, there is no such thing as 'Silly Post' in asking doubts. Donations are welcome : 18DRXLSmqhE9JaCpRL3xQnNCD8Df2r5AoG . Kindly, Muhammed Zakhir |
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It did in fact pay me, but it seems like it's no longer paying due to being empty / experiencing issues, unfortunately. Thank you for the heads up, I'll remove it from the site straight away.
Don't remove it. I will reach 1 mbtc in 2-3 days. So I will notify everybody. Wait till I notify. Kindly, Muhammed Zakhir |
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I think the cost per transaction will drop to more reasonable levels as the block reward drops.
You have a point there! I think you are right. Do you know on what a block reward depends? Kindly, Muhammed Zakhir |
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Msig way
I create msig 2-of-3 address { mypub, wifepub, sonpub }
I ask you: please, send me some btc to address 3xxxxxxyyyyyyyyyzzzzzzaaaaabbbbccc
You send some btc there
Any two of my family can use these funds. My wife and my son are safe in case of my death.
If I lose my private key - funds are also safe - my wife and son are able to sweep them to another address
But how is this working? I am really confused!  Can you explain a little more about how this works? Msig way is better as it more safer, right?Kindly, Muhammed Zakhir |
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What would be especially suspicious is if they are providing higher rates of return than owning an ASIC miner does. Are they doing this?
They are not giving higher rates of return, they are giving the same BTC you get from your miner. Check it in a mining profitability calculator! They are paying out, you can check the proof. If it is a legit mining group, then it is the best one so far! |
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Between 12% hardware error rate, 20% penalty for no long polling, and another 10% for slow CPU lag (probably 3 seconds), I am getting 43% local DOA though.
Hard numbers? Blade thinks it is hashing: 10777 MHash/s P2Pool sees an actual rate of: 9534MH/s (1-(9534/10777))x100%=11.5% No long polling penaltyBlade has 32 relatively independent hashing chips. Blade handles 147 shares per minute. 147 shares/32chip.minute=4.59375shares/chip.minute (60seconds/minute)/(4.59375shares/chip.minute)=13.1seconds.chip/share Expected DOA: (13.1seconds.chip/share)/(2*30 second.share-interval)*100%=22%(chip/share-interval) Slow CPU lag:Probably the number you are most interested in, but the most shaky as well. P2Pool reports the "Bitcoind GetBlockTemplate Latency" is an average of 0.454s With a 10 minute sample period, P2Pool appears to use ( 17.19%/2.34%=7.35x) the CPU time bitcoind does. 7.35x0.454s=about 3.3seconds of CPU lag. Penalty with 30 second round time: 3.3/30*100%=11.1% The network probably has some lag as well. Are the numbers sane?The above percentages (neglecting hardware error rate) add up to an expected local DOA of 33.1% P2Pool reports a local DOA rate (over last ~12 hours) of: (DOA mean 3.45GH/s)/(Total mean 9.48GH/s)x100%=36% DOA My DOA number will vary by 12%; that is why I thought the hardware error rate was maybe counted. ConclusionI have a slow CPU, and including zero fee transactions does no generally push my bitcoind latency over 1 second (with 500000 byte blocks). Yes, including zero-fee transactions will increase your latency: as does including paying transactions. Currently fees are insignificant compared to the block-reward. Assuming 500mBTC of fees per block, we are talking a 2% bonus on 25BTC blocks. If trying to fill a block pushes your Bitcoind latency up to 1 second, you can expect to get orphaned 0.2% of the time (when you otherwise wouldn't) assuming a 500 second block interval. Edit: That seems to imply that paying transactions need to add up to at least 50mBTC to compensate for the CPU lag of including them. My network probably has at least 1 second of lag if I send the whole block at once (not sure how much gets "pre-sent". Thanks for that! Explained in simple words but understood a lot! Kindly, Muhammed Zakhir |
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Hello!
IMO every newbie to mining should start mining altcoins and study how it works and then mine BTC or any profitable coins but remember, more profit the coin is, more difficult to mine it
Kindly,
Muhammed Zakhir
When you refer to newbie, are you talking about yourself? When multicoin pools switch coins they pick the one that has a lower difficulty relative to it's price. I think you're a little confused Yeah! Multicoin pools like eobot mine profitable coins. What I said was when you mine using your own hardware it will be difficult to mine more profitable coins like BTC & LTC as their difficulty are high and are rising now too! You misunderstood what I said. Kindly, Muhammed Zakhir |
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Mining isn't a ponzi scheme and pbmining looks like a mining rental site. That said you must take into account future difficulty increase. So if you rent any hash power - it's value past six to twelve months or so is essentially zero. Your hardware is losing 20% in value every time the difficulty increases by 20%.
I know that mining isn't a ponzi scheme but I saw many posts saying pbmining is a ponzi scheme. I bought some GHs from it and I am getting some BTC ... Pbmining isn't giving a photo of their mining place or hardware, it seem suspicious. Anyway it is better than others if it is a legit mining group as there is no fee and cheap price for GHs. . Kindly, Muhammed Zakhir |
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Hello! Nice site! Just checked it now. I saw a few better faucets. Thanks! I hope I will see more better ones soon . Is Freebitcoinz.com paying? Did you get 1 mbtc from it? Kindly, Muhammed Zakhir |
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Check the date on OP.
It's from a year ago.
Bitcoin price was around $100 in mid-2013. So, OP earned around $30 from faucets in a few weeks. Something is better than nothing, right? Now the faucets are really useless though there are some highly paying faucets. Kindly, Muhammed Zakhir |
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Will GPU mining be profitable again or will become obsolete in the future? GPU mining for BTC will not be profitable at all and it is not right now. The only way to get BTC right now is to mine it with very expensive hardware or to work for it, or of course to buy it. BR Yes! But still you can mine some other low difficult coins. Kindly, Muhammed Zakhir |
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