Aargh this isn't quite working for me yet.


When I run autogen.sh I end up with the following messages:

Configuration Options Summary:

  curses.TUI...........: FOUND: -lncurses
  OpenCL...............: NOT FOUND. GPU mining support DISABLED
configure: error: No mining configured in

I presume this also happens if I do update.sh instead, but everything scrolls past too quickly. Why can't it find OpenCL? Where should it look? How can I tell it where? This is on a fresh BAMT stick.

ETA: so after reading segabtc's and abracadabra's posts more carefully, and studying update.sh, I ran the command


... then update.sh again. This at least gets rid of the above problem... now it found OpenCL, GPU mining is ENabled.

BUT: still no mining.  


ETA2; never mind... herp derp. My cgminer.conf was bollixed but it's okay now. Though it's mildly annoying that I can't see any share submission stats on the web interface or the gpumon main screen, only the cgminer screen. If anyone can help with that it'd be shazam.

Most of what's in that quoted section is reasonable enough. But the key points are just nuts.


How has the author determined 'the natural price' of Bitcoin? I *do* think it's actually reasonable to define a 'natural price'... take an estimated fiat value of all the goods and services traded in Bitcoin over the past month, or year or whatever, divide by the number of bitcoins circulated in that timeframe. But such a price is a theoretical construct, probably impossible to actually get an accurate value for.


The author has forgotten about the inbuilt difficulty change that keeps the mining network roughly in equilibrium. Price drops too low -> most miners drop out -> difficulty goes down -> mining becomes more profitable -> miners come back. Not to mention that with ASICs coming up, electricity costs, which became the bane of GPU miners, will become relatively unimportant for a while (year or so, maybe) until we come full circle again with a mining network made entirely of ASICs.


True enough, ASSUMING that we have a bubble in the first place. As other posters have mentioned there's a much bigger bitcoin economy than there was two years ago.

I always like to see technical analysis threads start with the word 'Bullish'. It's so near to self-awareness, but not quite there. You have to squint a bit.

I liked his Hovis ad, though.

What point are you actually trying to make?

The comic does actually go to some trouble to explain why this method is resistant to a brute force attack.

  Fucking idiot. But thanks for reminding me why I spend all my BitTime in the Mining, Newbie, Marketplace sections... ANYWHERE but Politics&Society.

I'm in the UK and it seems to have been down the last six hours or so. I suppose they're just being a bit cautious until the hard-fork stuff blows over.

Why thankyou, that's exactly what I'd like to do to your words at this juncture.

Well. There's still 90 minutes left. But I think you'll probably still be an idiot in 90 minutes.

You have a wonderful sense of timing.

+1. So sue me.

His off what?
 

The way I interpreted the OP was different again: literally, what's the current BTC price (in say USD using MtGox) divided by the total hashrate of the network. And, what has this ratio been historically?

So right now (as I type), that'd be 41.56783/35.219 = 1.18 to 3sf. I imagine you could get historical data from bitcoincharts.com and crunch it yourself. Usual disclaimers about random fluctuations in both those figures...

'I want to link my Bitcointalk name with BTCJam's. Verification code: fa7eca8c-fd74-4275-84a8-1e7856f71279'

100 @ 0.43

rProhqt16kgi22iFS7At8e5uvmQyjkRGNU

But even if we adjust the difficulty every block, that doesn't mean it has to be calculated solely with respect to the previous block. As someone else said upthread, you could keep a moving average of, say the last 200 blocks. That would smooth things out.

But I can see the OPs proposal being a serious pain in the arse for miners (of whom I am one). As it is, you have to keep reassessing every two weeks or so, whether it is still profitable to mine. If the difficulty (and hence, payout on a share in a pool) changes every block that would make it a bit of a nightmare to calculate profitability. The incentive to mine would be reduced, and without miners Bitcoin can't work.

Hijiack: What I *do* think would have been a good idea would be for the block rewards to have decayed more smoothly, say every month instead of every four years. Then again, the sky didn't appear to fall last December, not even with those pesky Mayans egging it on.

So as it's been a whole year since your first round of bullshit, you thought you'd give it another spin?

Coupla quick questions for Coinlab or anyone else to answer... still unclear on two things.

1) The client we use to redeem loyalty points. I understand the custom client didn't come out in time and so we can just use 'any' client. Just want to clarify 'any'... a couple of posts up someone says we can use cgminer. Okay but what if my rigs are BAMTs running phoenix. Can I use those? Preferably without changing from phoenix to cgminer? (this old dog is starting to find new tricks a pain)

2) Redeemed points are initially earned in USD but paid out in BTC. Okay. When are the payouts? Are they weekly on Mondays like before the apocalypse, or do we pm you whenever we want a payout? If the latter, it strikes me I could attempt to increase my earnings by speculating. Not that I usually have much luck with that.

You've picked a helluva day to start thinking about mining.