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1  Bitcoin / Mining / Gui miner solo, how do I know it's working? on: April 26, 2011, 01:37:42 AM
GUI Miner solo. I've let it run for almost 2 weeks now and I haven't generated 50 BTC yet. If it's "running" with the bitcoin client as server how do I verify it'll send me the 50 BTC? Does it just know to credit the client? I don't get it.

I'm thinking it may have solved something but doesn't know how to credit me? I'm confused how it knows how to register the credits in the wallet. I'm running poclbm-gui and launching bitcoin in server mode through the menu interface running solo w/ 2x 6950's
2  Bitcoin / Bitcoin Discussion / Re: Confused about transaction fee... on: April 14, 2011, 11:34:51 AM
This means that every time you make a transaction you give 0.01 to the person who finds the next block.

Small correction. The fee is 0.01 BTC per 1KB of transaction size rounded up. A transaction with one input and two outputs (most typical) is 0.25 KB and the fee is 0.01. If your transaction has many inputs (like consolidating a wallet with many small change coins), the fee will be proportionally higher.

There is still no need to pay the fee unless you want to be (almost) sure to have the transaction included in the next block. The fee will probably become important when there are much more transactions going on and the competition for inclusion into the blocks is higher.

Kind of sounds stupid if Bitcoin gets really busy that you have to "pay fees" to make sure your transactions go by faster. This is a silly gimmick to the whole idea of Bitcoin doesn't make sense.
3  Bitcoin / Bitcoin Discussion / Re: Confused about transaction fee... on: April 14, 2011, 08:17:11 AM
In my bitcoin client there is a transaction fee recommendation of 0.01. Does this mean anytime I send money to someone it'll charge them 0.01 back to me, or how does this work? I read the wiki but confused on who it affects. Who gets the 0.01 and at what point?

This means that every time you make a transaction you give 0.01 to the person who finds the next block. The purpose of this is to encourage people to run miners, because it costs money (electricity). Once it gets to the stage where miners will be rewarded very small amounts of coins for finding a block, the transaction fees will be their main reward. Currently though if you attach the fee you may be sure that your transfer will be added to the next block before the transactions that weren't paid for. If you don't pay the fee it doesn't mean your transaction will not be added to the block, but it may not be the next one created.
Thank you
4  Bitcoin / Mining / Re: So two things... on: April 13, 2011, 11:33:39 PM
Second question. The difilculty within a year changes how much? Will 2x 6950's generate a good amount of bitcoin for another year or do you guys have to upgrade GPU's for bitcoins every year?
The difficulty changes every 2016 blocks, which on average will be once every two weeks.  It can change by up to a factor of four in either direction, but lately has been much less than that.  Right now, the difficulty is 82347, and best estimates say it will increase to 93094 at the next change in 717 blocks (+13%).

Suppose you had a configuration that could produce 580 million hashes per second (roughly a pair of 6950's).  That means it takes 7 days, 1 hour, 23 minutes to generate 50 bitcoins on average right now.  That's just a hair under 50 bitcoins per week.  Let's say 49.35, which is a number I happened to do the math with earlier today.

As a simple example, consider the case where the difficulty continued to increase by 13% every two weeks for a year.  We'll assume the difficulty changes exactly every two weeks for simplicity.  That means the following would happen:

Code:
Week 1 BTC 49.35
Week 2 BTC 49.35
Week 3 BTC 43.67
Week 4 BTC 43.67
Week 5 BTC 38.65
Week 6 BTC 38.65
Week 7 BTC 34.20
Week 8 BTC 34.20
Week 9 BTC 30.27
Week 10 BTC 30.27
Week 11 BTC 26.79
Week 12 BTC 26.79
Week 13 BTC 23.70
Week 14 BTC 23.70
Week 15 BTC 20.98
Week 16 BTC 20.98
Week 17 BTC 18.56
Week 18 BTC 18.56
Week 19 BTC 16.43
Week 20 BTC 16.43
Week 21 BTC 14.54
Week 22 BTC 14.54
Week 23 BTC 12.87
Week 24 BTC 12.87
Week 25 BTC 11.39
Week 26 BTC 11.39
Week 27 BTC 10.08
Week 28 BTC 10.08
Week 29 BTC 8.92
Week 30 BTC 8.92
Week 31 BTC 7.89
Week 32 BTC 7.89
Week 33 BTC 6.98
Week 34 BTC 6.98
Week 35 BTC 6.18
Week 36 BTC 6.18
Week 37 BTC 5.47
Week 38 BTC 5.47
Week 39 BTC 4.84
Week 40 BTC 4.84
Week 41 BTC 4.28
Week 42 BTC 4.28
Week 43 BTC 3.79
Week 44 BTC 3.79
Week 45 BTC 3.35
Week 46 BTC 3.35
Week 47 BTC 2.97
Week 48 BTC 2.97
Week 49 BTC 2.63
Week 50 BTC 2.63
Week 51 BTC 2.32
Week 52 BTC 2.32

The current exchange rate is USD 0.92 for one BTC.  (Please note that I am not considering exchange rate fluctuations; that is a different topic, and if you want to make money on exchange rate speculation, you can simply buy the bitcoins rather than generate them.)

Each 6950 consumes 200 watts at full load, so that is 400 watts total.  A high-end power supply is approximately 85% efficient, so that means they will consume 470 watts of power.  Per day, that is 11.28 kilowatt hours, or 78.96 per week.  According to the Department of Energy the average power cost in the US right now is 11.04 US cents per kilowatt hour, which means a cost of USD 8.71 per week.

That means that after week 30, you would actually be losing money, so you would stop then.

Up to week 30, you will have made 660 bitcoins, which at the current exchange rate is USD 607.20.  Your electricity costs will have been USD 261.30.  This gives you a net profit of USD 345.90.

Considering that a 6950 sells for USD 240 right now, this does not pay for the cards (let alone any associated computer) before mining with them is no longer profitable.  You will need to sell the cards to see a profit.  The days of making a fortune in the bitcoin market by buying hardware are likely numbered.

Wow, great math thanks. It really does seem that it's pointless to "mine" for money now. Best way to make money is typical stock market stuff, buy low, sell high.
5  Bitcoin / Bitcoin Discussion / Confused about transaction fee... on: April 13, 2011, 11:31:24 PM
In my bitcoin client there is a transaction fee recommendation of 0.01. Does this mean anytime I send money to someone it'll charge them 0.01 back to me, or how does this work? I read the wiki but confused on who it affects. Who gets the 0.01 and at what point?
6  Bitcoin / Mining / So two things... on: April 13, 2011, 12:14:14 PM
If I'm running 2x 6950's then I'm probably paying more in electricity than money I am generating... correct?

Second question. The difilculty within a year changes how much? Will 2x 6950's generate a good amount of bitcoin for another year or do you guys have to upgrade GPU's for bitcoins every year?
7  Bitcoin / Mining / Re: Building computer for mining, bought these. Advice? on: April 13, 2011, 12:04:22 PM
I thought you would have more experience with the specific info. but meh. How much would a 1ghash dedicated miner cost anyway?

depends if you mind buying used etc.

A dedicated miner, IMO, should at least have 2* 5970 or 6990s, but IMO, a dedicated miner should be 4* 5970 or 6990 (using linux), as that is what will give the best return on your investment. Dedicated miners are a risky business if you pay for electricity, and even more risky if you pay more than 10cents the KW/h
Isn't all of the U.S at least 12 cents KW/h?
8  Bitcoin / Mining / Re: Poor GPU Utilization with 4850 -- SOLVED on: April 13, 2011, 12:01:13 PM
Is there a way to monitor how much wattage your PC is consuming without something you plug in your socket?
9  Bitcoin / Mining / Re: Am I doing it right? on: April 13, 2011, 11:54:29 AM
I have a 6950, shader unlocked, and running at 920 Core (700 Mem) with -v -w128 -f2 at 351 Mhash.  I can hit 361-362 at 940 core.


Why mem so low?
10  Bitcoin / Mining / Re: Am I doing it right? on: April 12, 2011, 08:27:01 PM
So "f" flag seems to be doing nothing. However someone suggested this: and my rate went up to 320 Mhash/s


 -v -w128

Depending on if I had  -v -w128 -f 1 or -f 128 nothing changes.
11  Bitcoin / Mining / Re: Am I doing it right? on: April 12, 2011, 07:26:16 AM

proportional...and yes you should run your miner with gpu specific flags..-w -v 128 -f 1 through 120 depending on whether you wish to use the system for anything other than mining...I use -f 60 and my day to day usage seems acceptable..

Is proportional http://mining.bitcoin.cz/ ?

that's score based... I recommend deepbit

score base is good if it's a dedicated mining rig IMO, or if you 24/7 often.

I see. I get it. Proportional deepbit then? Thanks!
12  Bitcoin / Mining / Re: Am I doing it right? on: April 12, 2011, 07:18:28 AM

proportional...and yes you should run your miner with gpu specific flags..-w -v 128 -f 1 through 120 depending on whether you wish to use the system for anything other than mining...I use -f 60 and my day to day usage seems acceptable..

Is proportional http://mining.bitcoin.cz/ ?
13  Bitcoin / Mining / Re: Am I doing it right? on: April 12, 2011, 07:09:05 AM
I'm getting ~540 Mhash/s now with 2x 6950's OC'd. That sound right?

Also, does it make more sense to join a pool or just mine solo? What's the recommended pool if I should join one?

I'm looking at http://mining.bitcoin.cz/ vs http://btcmine.com/ vs http://deepbit.net/

With my type of system, what's better? Pay Per Share, or Proportional? I don't really get it...

Oh yeah, and I still have the question if I should be running my miner with flags specific to my GPU's? I saw stuff like -128 f1 or something like that? What does that do?

proportional...and yes you should run your miner with gpu specific flags..-w -v 128 -f 1 through 120 depending on whether you wish to use the system for anything other than mining...I use -f 60 and my day to day usage seems acceptable..

I did -w -v 128 -f 120 and now it seems like it's just 273.3 Mhash/s stable. Doesn't seem to have increased anything just looks more stable. Hmm. Is it supposed to increase the efficiency?
14  Bitcoin / Mining / Re: Am I doing it right? on: April 12, 2011, 07:05:52 AM
I thought 6950s should deliver over 300 Mh/s, especially OCed or unlocked shaders!

Apparently 272 Mhash/s ... sort of close to 300.
15  Bitcoin / Mining / Re: Am I doing it right? on: April 12, 2011, 04:50:23 AM
I'm getting ~540 Mhash/s now with 2x 6950's OC'd. That sound right?

Also, does it make more sense to join a pool or just mine solo? What's the recommended pool if I should join one?

I'm looking at http://mining.bitcoin.cz/ vs http://btcmine.com/ vs http://deepbit.net/

With my type of system, what's better? Pay Per Share, or Proportional? I don't really get it...

Oh yeah, and I still have the question if I should be running my miner with flags specific to my GPU's? I saw stuff like -128 f1 or something like that? What does that do?
16  Bitcoin / Mining / Re: Am I doing it right? on: April 12, 2011, 04:39:01 AM
I dunno maybe it's just me but I don't think it's worth solo mining with that hashing capacity...given the current difficulty I'd say if you don't have at least above 1 Mhash/s then it's better to mine in a pool - this way you at least get frequent and more consistent payouts. Just my 0.02 BTC worth.


I hjave 544 Mhash/s

Did you mean GB?
17  Bitcoin / Mining / Am I doing it right? on: April 11, 2011, 11:32:19 PM
Windows 7

2x 6950's shader unlocked in crossfire

Running http://bitcointalk.org/index.php?topic=3878.0 poclbm-gui under local solo mode.

Currently have "Default" setup generating on device 0 cayman. Should I create another one generating on device 1?

My current Mhash/s is 272/s. Is that good? How many khash is that?

Are there any extra param I should be running to make it more effecient? I remember seeing something like -vectors.

Am I generating enough that it's worth it to stay solo or should I join a pool?

Thanks!
18  Other / CPU/GPU Bitcoin mining hardware / Re: GUI mining - now supports puddinpop's RPCminers on: April 11, 2011, 11:19:44 PM
If I'm trying to mine locally, and I have 2x 6950's, should I be creating two miners for device 0 Cayman and Device 1 Cayman or should I just create one pool for 0 Since they're in crossfire?

Right now I have it on just
  • Cayman and I'm generating 260 Mhash/s is that good or bad?
19  Bitcoin / Bitcoin Discussion / Help a newbie get started please. on: March 21, 2011, 11:39:49 PM
Hi there.

This sounds very interesting and I'd like to get started.

I have two computers I can immediately start using for "mining."

How would I get started?

One is my professional computer: Macbook Pro (last year).

Second is my gaming computer: Recently built Sandy Bridge 2500k OC'd to 4.5ghz w/ 2x 6950's OC'd to 6970's.

Can I use both to mine for me or am I only allowed to use one?

I heard I can get more money by leveraging GPU than CPU. How would I do this?

Thank you so much for taking the time to read and put the effort and make me follow the right direction!

Thanks!
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