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441  Other / Beginners & Help / Re: Worth it to get bank loan to mine? on: July 02, 2012, 04:45:50 PM
I got into mining in December and only really started to go dedicated the past few months. I already had a 6950, 6450 and 6770m. I bought a 5830 for $80 and the rest of the system was already in my spare parts.

Personally, I wouldn't risk much. I could probably resell the GPU at $80 and I will not buy a GPU for more than 3 months ROI. The only reason I got a single jalapeno is because I had the spare BTC I had already mined and I have a lot of fun mining so I want to remain the small fry I am now later my multiplying my hashrate by 4. I figure if everything goes to shit, no loss for me.

It's a matter of risk assessment. I do it because it is fun but I wouldn't risk much and I advise the same. That said, who can tell the future? Some good points were made either way:
-network rate will increase if BFL delivers. ie, 1/2TH is the new GH
-If something goes to shit, be it insane difficulty increase or major value drop, you won't be able to pay off your debt
-The ASIC will have very little resale value because not many people use SHA256 dedicated hashing processors
-A lot of people may drop out if GPU mining becomes worthless and the majority of the network hashrate will be in the power of the remaining. Perhaps this will lower the total to make it profitable to them?
-There's still that drop to 25BTC reward.
-What about that time period where not many people have had their ASIC delivered yet? Except unless you pre-ordered, it might be too late for that for you.
-What are your electricity costs?

Here's my big question: How much are you looking to invest and do you plan on maintaining it all yourself?
442  Economy / Marketplace / Re: ["WAIT LIST"] BFL SC Order Dates / Ship Dates on: July 01, 2012, 09:34:42 PM
Based on your total sold, the value of all before shipping and taxes is $276,559. The total transaction value that went through bitpay to buy these in the first 24-hours was $250,000 (http://www.prweb.com/releases/2012/bitcoin/prweb9637829.htm), if the article is to be believed.

I'd like to request a new column, out of interest. Transaction type B (bitpay/BTC) or W (wire transfer)
443  Bitcoin / Development & Technical Discussion / Re: [7.3 btc bounty] Implement demurrage in an alternative chain with merged mining on: July 01, 2012, 04:22:10 PM
So is Freicoin dead now?
444  Economy / Marketplace / Re: ["WAIT LIST"] BFL SC Order Dates / Ship Dates on: July 01, 2012, 03:32:55 PM
24 June 2012 00:53 EST | 1842 | N | 1 | 0 | 0 | - | - | mokahless

There's only one problem with this thread. It does not take into account time zones. I recommend converting all dates to UTC.
Also, if you do add that extra Column, Country: Canada, Transaction type: BTC
445  Economy / Trading Discussion / Re: VirtEx Bitcoin app *UPDATE* MtGox Widget and Orderbook with Liquidity Highlight on: July 01, 2012, 03:11:37 PM
Best interface ever. Been using it since 1.0. For some reason though, recently, I've had to manually update it. I'm on wi-fi and had no issues before. But it hasn't automatically updated in a few days, even after rebooting my phone.
446  Bitcoin / Pools / Backup pools? Good idea? Bad idea? on: June 28, 2012, 03:33:30 AM
Just wondering what everyone's opinion is on CGminer's backup pools without --failover-only?
So in other words, does anyone have any idea if leaking work to other pools would increase or decrease overall efficiency?
I used to have just BTCGuild set up but not I have backups at Deepbit and P2Pool. Haven't been running the backups very long but I seem to be getting ~0.005BTC every time a block is found (3 times today in the last 24-hours). I haven't had this setup long enough to determine if BTCGuild is affected to a major degree or not, especially with the small, non-configurable estimation window. Deepbit averages ~20MH/s in a 60 minute window.
I'm running windows 1x 840MHz unlocked 6950, 1x 725MHz 6450, 1x stock 6770m and linux 1x 1.02GHz 5830 all with CGminer.
Thoughts?
447  Bitcoin / Mining support / Re: CPU mining on a dedicated centos 5 server on: June 28, 2012, 03:00:19 AM
Stop wasting everyones time. CPU mining is not profitable unless your a botnet.
Learn to search instead of posting stupid topics
*you're using*
448  Other / Beginners & Help / Re: mining alone or in group? on: June 28, 2012, 02:05:33 AM
I'll second mining in a pool.  For a beginner deepbit is nice and stable.

For graphics cards that are readily available, I'd look at the 6870.  You're looking at at least 2.2/mh per watt when properly set up and you can get them for about $160.  For less money the 5770 is very nice too.

The 5830 is cheap upfront, but it's inefficient.
It's not inefficient by much. There are a lot more inefficient cards past the 4xxx series.
449  Other / Beginners & Help / Re: mining alone or in group? on: June 28, 2012, 02:03:18 AM
I like mining by myself.
ok... so?
450  Other / Beginners & Help / Re: mining alone or in group? on: June 27, 2012, 12:03:16 AM
I started with a 6950 I had for gaming. Eventually added a 6450 for more monitors then bought a 6770m laptop for gaming and more recently, a 5830 for $80. If you can find a used 5xxx, 6xxx or 7xxx series video card they will be way more efficient at mining and a great place to start. The 4xxx series work but are terribly inefficient. My 5830 gets 327MH/s at 1020MHz core speed at 61*C using cgminer in BAMT. There's also a CGminer for windows. Even though it is a command line tool, I find it easier to use than GUIminer, personally.

If you get free electricity, keep mining. Or if you have low-cost electricity and find you just enjoy mining, keep at it  Tongue

As everyone said, you'll definitely want to mine in a pool.
451  Bitcoin / Pools / P2Pool as backup, CGminer? on: June 26, 2012, 11:46:36 PM
I was just wondering what everyone's experience is with CGminer's backup pool settings. I currently have BTCGuild as my primary and deepbit as my backup pool. I experimented with P2Pool for a bit over 24-hours but the payout was < 50% of that of BTCguild. So I have it set now as my backup of my backup pool. Logical, since it won't go down.
I'd like some thoughts on this and backup pools in general but I also have a few questions.
I use CGminer and have these set as my backup pools. I'm not using the --failover-only switch and am wondering if this could be more or less efficient overall in everyone's experience? What do you think a good idea is with regards to this switch?
I also wouldn't mind any thoughts on P2Pool aswell.

Think of this thread as a discussion on the various topics mentioned above.
452  Other / Beginners & Help / Re: WTB BTC for EMT, Canadian sellers only on: June 25, 2012, 10:45:55 PM
These guys have been around forever:
https://www.cavirtex.com/home

I've only dealt with them BTC--> EMT not the other way around though.

So if no one PM's you, here's another option.
453  Other / Beginners & Help / Re: Pool Hardware on: June 25, 2012, 10:26:34 PM
What's your website? Is it viable to host from home?
454  Other / Beginners & Help / Re: (Win 5 BTC) When will the first BFL BitForce SC Mini Rig be recived? on: June 25, 2012, 10:20:25 PM
October 28th with 870W
455  Other / Beginners & Help / Re: Why Bitcoin won't succeed on: June 25, 2012, 10:13:15 PM
Longest troll thread ever. Why hasn't it been locked? The original author hasn't posted since.
456  Other / Beginners & Help / Re: mining alone or in group? on: June 25, 2012, 10:10:41 PM
Never heard of this pool. Are you sure you are bitcoin mining?
457  Other / Beginners & Help / Re: my mining experiences so far on: June 25, 2012, 10:02:58 PM
With any available graphics card today, how far ahead of power costs can you be? My ATI 4870 pulls about 100W, costing roughly twice in power what it mines.
The 4xxx series is the oldest series to have OpenCL support... and the least efficient. That said, it all depends. In Ontario, electricity rates average <0.09$ (we have different rates for different times of the day, as low as 0.06$ at night). If I were paying electricity, I would still break even.
458  Other / Beginners & Help / Re: my mining experiences so far on: June 25, 2012, 07:17:58 AM
So much for fear. I've invested $80 in a 5830 and $40 in an Antec VP450 and used some of my spare parts with a motherboard box as a case with holes cut for venting. Accumulated ~30BTC and recently spent most of it on a pre-order with BFL. Started playing around with p2pool. But over 24-hours later my "Payout if a block were found NOW:" is only 0.17BTC. I expected less but I can make 0.4-0.45BTC with a centralized pool...
459  Bitcoin / Mining software (miners) / Re: Linux Bitcoin Copy to RAM? on: June 25, 2012, 07:06:54 AM
I'm just wondering if it's out there or not.
460  Other / Off-topic / Re: BFL Preorders -- What did you get? | Who has the lowest order number? on: June 24, 2012, 07:57:49 AM
Ordered one J #1842 via bitpay.
High order number because I took a few hours to decide. I had accumulated just barely enough bitcoins for the purchase from my 6950 + 6450 and more recent 5830 over the past 6 months. I only recently started doing the mining 24-7. Assuming no difficulty change, it'll take me until September to gain it all back again  Tongue
Let's see what happens.
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