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Author Topic: Building a rig?  (Read 421 times)
BringBTC
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April 22, 2013, 06:39:58 PM
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I have plans on building a mining rig. I will try to get all the components second hand in order to get them for a decent price.

I have some questions tho:

1. Can the CPU or mobo bottleneck the hashrate of the GPU?

2. Why are BFL not just sitting on their ASICs and mining just by themselves and become millionares?

3. What is gonna happen with BTC in the next year? ASIC will probably be released soon (how soon?) and then the value of BTC will drop (time to buy BTC?) and normal GPU miners will have to stop mining because the difficulty will be too high compared to the electrical billing. When ASICs are released, the rich people will buy farms of ASICs and own the whole BTC mining market and ear shitloads of money?

Damn!
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tysat
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April 22, 2013, 06:45:25 PM
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Building a GPU rig for mining bitcoin is a waste of money now.  You will want to make sure you have card(s) that can mine alt cryptos as well.

Bitcoin difficulty is going to jump a lot in the near future.
raubaut
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April 22, 2013, 06:45:45 PM
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2. Why are BFL not just sitting on their ASICs and mining just by themselves and become millionares?

The boiler-plate response to this is that the people who got richest during the gold rush were the ones selling shovels.

Consider an analogous question: why didn't Satoshi just mine every last Bitcoin for himself?
BringBTC
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April 22, 2013, 06:46:28 PM
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Building a GPU rig for mining bitcoin is a waste of money now.  You will want to make sure you have card(s) that can mine alt cryptos as well.

Bitcoin difficulty is going to jump a lot in the near future.

Yea... What is alt cryptos? Alternative cryptographies? Means what?
BringBTC
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April 22, 2013, 06:47:33 PM
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2. Why are BFL not just sitting on their ASICs and mining just by themselves and become millionares?

The boiler-plate response to this is that the people who got richest during the gold rush were the ones selling shovels.

Consider an analogous question: why didn't Satoshi just mine every last Bitcoin for himself?

Where can I read about that? I can not believe that's true.
vince1715
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April 22, 2013, 06:49:11 PM
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 Unless you have specialized equipment then I wouldn't waste time trying to mine with how high the difficulty is now.
vvhiteknight
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April 22, 2013, 07:05:55 PM
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Mine ltc, avoid btc.

Check out the Youtube Channel Coin Central for Crypto related Tips, Tricks, Tutorials and News.

http://tinyurl.com/CoinCentral
hidziugas
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April 22, 2013, 07:19:33 PM
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Yeah mine LTC, or some of the new coins
vvhiteknight
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April 22, 2013, 07:27:42 PM
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Feathercoin is looking promising, some people selling ftc for silly money

Check out the Youtube Channel Coin Central for Crypto related Tips, Tricks, Tutorials and News.

http://tinyurl.com/CoinCentral
solidshotnosh
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April 22, 2013, 07:30:56 PM
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You should read ALOT more before just trying to throw some cards on a mobo and mining.
ISAWHIM
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April 22, 2013, 07:40:03 PM
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Because without transactions themselves occurring... (eg, money being exchanged for coin, and coin being exchanged for money, and coin being exchanged for coin... there is no value.)

Thus, had he mined them himself, with his own computer, he would have just wasted power, not had any transactions (because he could not have processed the trillions of transactions himself), and the coins would have no value, except to him, as debit.

The market is self regulating....

The ASIC creators ARE mining themselves... they are getting the money from OUR SALES of PREORDERS, to build the machines. I am sure they are building ONE for themselves, for every ONE being sold. Create two, keep the best for yourself, sell the other, create another, keep the best for yourself, create another... In the end, they will have a horde of mammoth machines, selling us the mini-machines, spread-out all over the place. The market will regulate itself, and then there will be no more "new coins" to be found, only "transactions to process" which we simply "reject" if they don't start adding a "process fee" to the transactions. (A fee that covers expenses of these super machines.)
ISAWHIM
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April 22, 2013, 07:52:05 PM
 #12

If you want to make more money... from bitcoins...

Cteate services that accept bitcoins... Buy/Sell bitcoins directly... Create a LOCAL exchange... Convince others to USE bitcoins...

Create ANY form of a "Trusted" exchange, and you will thrive more than any mining-operation. (People want TRUST, if you offer it, you have a never-ending supply. Until you bteak that trust, or dishonor it.)

That is what keeps the value of bitcoin rising and stable. Theft and deception only devalues it. Obvioulsy, theft and deception is decreasing, but still exists, thus, all the horrible fluctuations. But it does not dominate, because the market has never crashed. It was built with GREAT anti-trust protection, so adding TRUST is easy.
Tobius
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April 22, 2013, 08:02:00 PM
 #13

Feathercoin is looking promising, some people selling ftc for silly money

Seriously have no idea why
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