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The cotton paper printing is an interesting offer you make. Unfortunately your entire Statement of Controls consists of, " I will not look twice at your private keys-they come out of the printer and the hologram goes on." ... I will pass for now. I have further taken what you said into consideration. I know I could type away all day that I'm not recording keys, but that wouldn't do anything. So, I only glance at the computer screen (with printer prompt in front) and print sheets of the notes. I had my 5 year old cousin put all the stickers over the code. Unless that bastard was recording keys there's no way anyone in the world knows them. He loved playing with stickers too.  I like the picture! Just doesn't make it anymore secure |
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Hey everyone,
I finally got GUIMiner and puddinpop's CUDA miner working together. At the bottom right it's showing 21.4Mhash/s. Is that a decent enough amount to start my venture into mining? Also, what is this ASICs I keep hearing so much about? Is it server hardware? Is it a full server in itself? Is it software?
Thanks!
Ricky
I can understand KWH to some degree, as your question suggests that you really haven't read alot about mining. Which wouldn't be a problem per se but so many ppl ask questions like that. I have just recently been interested in bitcoins too, an the learning curve is steep  The evidence that 20mh/s is not much is everywhere to be seen. Although I also must say that it's easy to get confused with older threads, where 20mh/s might have been more worthwile. But as the others already said, it's not enough, it's actually pretty bad. Plus, the times are over where one could get into mining and make a profit without investing both a lot of time and thousands of dollars/pickyourcurrency. I mined for a couple of days aswell, just to get an Idea, and it was fun. So as a newb I welcome you to bitcoin! Have fun exploring |
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Maybe it's just the newbie in me, but I'm suspicious of anyone selling mining rigs. If they are so good, why aren't you using them to mine for yourself? You can then cash in the coins and make your money that way?
OK, fine, you're not a mining company, you're a hardware company. Is it really that hard to form another company or partner?
Yeah I'm new too... and I was wondering the same thing. But then again, for some ppl, especially if you already have a business or other stuff to do, it might be better to focus on what you do best. Plus, afaik, they all (except asicminer) want to be payed in "conventional" currencies rather than bitcoin. So maybe there's also some kind of lack of trust with btc? I dunno, newb talking... |
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ASIC are making new potential miners scared..to invest and join the game..
This uncertainty is exactly what makes it very interesting for everyone, I guess... IF the asics will arrive, the lucky ones who got the first batch will earn like crazy for two weaks and as usual afterwards, while the rest will have to sell their GPUs quite soon. IF the asics are further delayed, miners who invested their hundreds/thousands of whatever currency in FGPA/GPUs will have an advantage cause their funds haven't been stuck. At least, that's what I guess will be the case. I'm both glad and sad at the same time that I'm not gonna be a part of it... |
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So would ordering an ASIC be a good idea? Avalon is getting ready for a second batch and Butterfly Labs is scheduled to ship in mid-February.
For someone who has no or almost no experience with serious mining (like me for example), I would be very careful. But it might help you to start calculating a bit. The numbers that are out so far are very vague and the ones concerning asics have to be looked at very skeptically. Might be different for ppl who have connections to the producers or other insider info. But still, you could start calculating your costs (fix and running) and the possible income (best/worst cases) for the next years. Cause it's not gonna pay of - if ever - within a couple of months. That's my opinion and I'm very new, but consider one thing: With the high values of bitcoins (atm), and the years bc already exists, miners have constantly improved their knowledge and skills and have professionalised. So getting into mining you will have extremely strong competition. |
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No, you wouldn't have blocks pumped out about once every 10 seconds. Every 10 minutes, yes.
Yes, as difficulty will adjust. Seriously, I would be very careful to invest in mining. Once the asics arrive, mining will only be viable for ppl who have invested in them. And as prices for asics are high atm, I'm not sure it will be worth your money. |
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Hi, could you please whitelist me?
I just got into bitcoin and have read a lot here anonymously, anyways now I'd like to send a PM to someone here regarding a specific topic, which is why I initially registered. I don't want to write some possibly useless posts just to be able to send my message. I can't and won't promise I will be active here, but it seems to be the most popular and diverse place I've found so far.
Cheers
It's okay I just realised this post allowed me to send PMs. Thanks anyways.
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