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Author Topic: [40+ PH] SlushPool (slushpool.com); World's First Mining Pool  (Read 3931561 times)
mstrongbow
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August 24, 2014, 02:23:14 AM
 #17941

Saturday Night's Alright!!!!!!  ^ Hey mstrongbow, did u get your miners moved and hashing again?

Sure did bro! I was surprised how quick they were hashing...basically within an hour of returning home they were reporting back on the pool dashboard, stoked!

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66tbird
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August 24, 2014, 02:22:38 PM
 #17942

Sometimes I worry about the environmental impact caused by mining.

I think it's up to us to lessen the impact on the environment...and as mining operations get more massive, I foresee solar, wind, and
hydro generation as a necessity.  In fact, that will fast become the most profitable kind of mining operation because you're not only
mining bitcoin, but also electricity, which will mean in the future bitcoin mining operations will probably be closely linked with energy
generation as a matter of necessity.

In this way, I'd say Bitcoin is a hell of a lot greener than oil, and inspires progress in "green" technology, rather than raping our planet
for it.

Only of concern to those who believe in made made global warming, which I don't. Yes the planet is going through a warming cycle as it has in the past but this is nature at work. To think man is able to control the planet or even have more than a slight effect upon it is really rather big headed. Humankind isn't that great after one small volcanic eruption throws up more CO2 in a day than man can throw out in ten years. A medium one can cause a volcanic winter that last decades. Yeah we could nuke ourselves into extinction along with most other life form on the planet but the earth would heal and carry on without us, without as much as a blink. Smiley As you can tell I don't work about carbon footprints I leave behind. And no I don't have a car and I work minimal wage so mining is a chance to dream. Of course in the morning like most dreams I still have to get up and make a living, hehehe Cheesy

Some light reading from a very long list from a very short search. Science is my passion.
http://www.skepticalscience.com/volcanoes-and-global-warming.htm
http://hvo.wr.usgs.gov/volcanowatch/archive/2007/07_02_15.html
thehairymob
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August 24, 2014, 04:06:17 PM
 #17943

Sometimes I worry about the environmental impact caused by mining.

I think it's up to us to lessen the impact on the environment...and as mining operations get more massive, I foresee solar, wind, and
hydro generation as a necessity.  In fact, that will fast become the most profitable kind of mining operation because you're not only
mining bitcoin, but also electricity, which will mean in the future bitcoin mining operations will probably be closely linked with energy
generation as a matter of necessity.

In this way, I'd say Bitcoin is a hell of a lot greener than oil, and inspires progress in "green" technology, rather than raping our planet
for it.

Only of concern to those who believe in made made global warming, which I don't. Yes the planet is going through a warming cycle as it has in the past but this is nature at work. To think man is able to control the planet or even have more than a slight effect upon it is really rather big headed. Humankind isn't that great after one small volcanic eruption throws up more CO2 in a day than man can throw out in ten years. A medium one can cause a volcanic winter that last decades. Yeah we could nuke ourselves into extinction along with most other life form on the planet but the earth would heal and carry on without us, without as much as a blink. Smiley As you can tell I don't work about carbon footprints I leave behind. And no I don't have a car and I work minimal wage so mining is a chance to dream. Of course in the morning like most dreams I still have to get up and make a living, hehehe Cheesy

Some light reading from a very long list from a very short search. Science is my passion.
http://www.skepticalscience.com/volcanoes-and-global-warming.htm
http://hvo.wr.usgs.gov/volcanowatch/archive/2007/07_02_15.html

But no one seems to have the figures for dormant volcano of medium to large suddenly becoming active. How much damage did Krakatoa cause to the atmosphere in the 19th century? That is a medium volcano after all and was the cause of the "mini ice age" as it was called at the time. Even the Thames froze over in winter after that event. And what would Yellow Stone do to the environment if it went off? Human extinction? Big business and global warming = higher prices for energy. Sound like a great partnership.
Franklin16422
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August 25, 2014, 07:00:12 PM
 #17944

A slight bit off topic but an interesting article:

http://techcrunch.com/2014/08/25/gold-dealer-drops-credit-card-payments-for-bitcoin/
Hitmouse
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August 25, 2014, 08:47:34 PM
 #17945

Am I calculating this right?  Huh

That the early part are 2015 it will no longer be cost effective to run miners based on the increasing difficulty. In other words varying costs of electricity and hardware will mean by March , April of 2015 most mining operations will be running in the red even with payed off miners and low cost electricity based on the current floating value index of bitcoins?

From what I have read there isn't any new miners / hardware that is capable of being cost effective when calculated against the upcoming difficulty.

I wonder what will happen to the HUGE cloud mining companies?

The only way I see mining continuing is a revolution in hardware and low cost electricity or massive price shift in bitcoins.

So whats next?

Billbags
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August 25, 2014, 09:34:22 PM
 #17946

Those calcuators are not perfict, but they will come out with more efficient miners. The 37ghs miners I was using in November used 340watts. So I sold and replaced with new ones(180ghs/370w and 24ghs/60w), which I sold and replaced with(1000ghs/1120w and 32ghs/40w), which I sold and replaced with(900ghs/860w and 443ghs/370w). This is the system I've had to use to keep making profits along with certain pool strategies. If it gets to a point they can't improve the chips, they will have to supply more chips that are under volt/under clocked extremely and/or find another style of mining like they have before(ie..solo to pool to original network to getwork to asic and stratum). But yes, the miners you have now will most likely be obsolete in early to mid 2015. Also remember only 21 million bitcoins will ever be mined, so the price will go up dramatically as long as people keep utilizing this p2p system.

Listen: meat beat manifesto ~ Edge of no control (pt.1)
Read:"He who controls the past controls the future. He who controls the present controls the past." ~ George Orwell
Think: http://unenumerated.blogspot.com/2014/12/the-dawn-of-trustworthy-computing.html
x86cam
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August 26, 2014, 08:32:16 AM
 #17947

Hello! I'm new to Bitcoin mining in general, and I followed a tutorial on how to get started. They suggested this pool. I just wanna say that I don't know like anything about bitcoin, besides the basics, and I'd like to know if I should go any further with what I am doing.

I have an ATI (or AMD) Radeon HD 7770 (GHz Edition) that I use for gaming and, well, this. I get 200 Mhash/s, and I wanna know if this is good for mining. I've mined about 0.00000494 BTC so far, and that's within a day. I also want to know if I should upgrade to a better Graphics Card or an ASIC thingy later on.

I know this thing is good for beginner users, and I just hope it survives everything I throw at it.

Anyway, thank you Smiley

I like Bitcoin so far btw. I just wish there was a method I could take. (I only have like $50 to spend right now)
RogMiner
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August 26, 2014, 11:00:59 AM
 #17948

Hello! I'm new to Bitcoin mining in general, and I followed a tutorial on how to get started. They suggested this pool. I just wanna say that I don't know like anything about bitcoin, besides the basics, and I'd like to know if I should go any further with what I am doing.

I have an ATI (or AMD) Radeon HD 7770 (GHz Edition) that I use for gaming and, well, this. I get 200 Mhash/s, and I wanna know if this is good for mining. I've mined about 0.00000494 BTC so far, and that's within a day. I also want to know if I should upgrade to a better Graphics Card or an ASIC thingy later on.

I know this thing is good for beginner users, and I just hope it survives everything I throw at it.

Anyway, thank you Smiley

I like Bitcoin so far btw. I just wish there was a method I could take. (I only have like $50 to spend right now)

Hello and welcome to mining.

Mining Bitcoin with a graphics card is not cost effective, it was the case some time ago that you could get good returns on a graphics card but that time has now passed. As you have found out you can earn about £0.01 a day with your graphics card but it will use about £1.00 a day in electricity meaning you will lose about £30 a month.

That said mining is great fun and if you want to really join in you need to be mining with an ASIC, with your $50 budget there isn't much you can do, but if the cost of electricity doesn't phase you then your next step could be to buy a cheap 2GH/s USB ASIC miner, however I would recommend checking out eBay for an Antminer S1 which are dropping in price all the time, you won't make any money unless the price of Bitcoin goes through the roof but if you underclock it there are still some months useful mining available.

As things stand the only way to make money is to spend money, and even then you may just lose everything so be careful, read the posts in this forum and in the hardware forum before spending any money and then you will be able to make an informed decision. Please heed this warning and don't rush out and buy anything, hardware prices will always come down so you have plenty of time to decide your next move.

Finally, be careful with your graphics card, overclocking it will make almost no difference to your hashing rate but it will eventually break your card, mining with your graphics card 24/7 will eventually break it. You don't want to end up with a huge electricity bill and no gaming machine, that really would be the worst of all worlds.

If you are going to mine at the low end then please just do it for fun, as doing it for money is a huge risk.
yan7181
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August 26, 2014, 01:13:09 PM
 #17949

do not mine with graphic card, your btc mined is even less then getting those free bitcoin at https://www.landofbitcoin.com/?r=phqCKSzE8j0J1vMW
get asic miner, usd 50 might get you a s1 if u bargain hard
cloudminerDW
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August 26, 2014, 02:54:07 PM
 #17950

Hello! I'm new to Bitcoin mining in general, and I followed a tutorial on how to get started. They suggested this pool. I just wanna say that I don't know like anything about bitcoin, besides the basics, and I'd like to know if I should go any further with what I am doing.

I have an ATI (or AMD) Radeon HD 7770 (GHz Edition) that I use for gaming and, well, this. I get 200 Mhash/s, and I wanna know if this is good for mining. I've mined about 0.00000494 BTC so far, and that's within a day. I also want to know if I should upgrade to a better Graphics Card or an ASIC thingy later on.

I know this thing is good for beginner users, and I just hope it survives everything I throw at it.

Anyway, thank you Smiley

I like Bitcoin so far btw. I just wish there was a method I could take. (I only have like $50 to spend right now)

You can hop on Amazon and buy one of these for $27 USD  http://www.amazon.com/BITMAIN-ANTMINER-U2-Bitcoin-Overclockable/dp/B00ITD5NV6/ref=pd_sim_sbs_pc_1?ie=UTF8&refRID=1R9GF4V3NFV2KX7Z4RPC   it will be around 10x as fast as your video card is and only use 2 watts. save yourself some money on your energy costs and save your graphics card.  It will be a good intro to bitcoin mining. but its not going to make you rich.

I started out with 3 of those and a Raspberry Pi and a USB powered hub and a USB Fan from Arctic. it was fun and enough to get me addicted hehe.
bspurloc
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August 26, 2014, 03:15:45 PM
 #17951

do not mine with graphic card, your btc mined is even less then getting those free bitcoin at https://www.landofbitcoin.com/?r=phqCKSzE8j0J1vMW
get asic miner, usd 50 might get you a s1 if u bargain hard

haha an S1 for $50...
 imagine someone being that dumb...
cuz you know you cant buy an upgrade kit for them to make them S3's... no really you cant just yet Wink

maybe a Block eruptor Cube, those are only worth $50. s1's lil under $150 at x5 the hashing rate
wow funniest thing on ebay is people selling corsair 500+'s with a cube for under $50... the power supply is that value! nice deals if you can snag it!

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August 26, 2014, 03:59:09 PM
 #17952

do not mine with graphic card, your btc mined is even less then getting those free bitcoin at https://www.landofbitcoin.com/?r=phqCKSzE8j0J1vMW
get asic miner, usd 50 might get you a s1 if u bargain hard

haha an S1 for $50...
 imagine someone being that dumb...
cuz you know you cant buy an upgrade kit for them to make them S3's... no really you cant just yet Wink

maybe a Block eruptor Cube, those are only worth $50. s1's lil under $150 at x5 the hashing rate
wow funniest thing on ebay is people selling corsair 500+'s with a cube for under $50... the power supply is that value! nice deals if you can snag it!



I got a couple Antminer S1's for about $70 a pop after lots of bargain hunting.  Amazing what you find when people misspell stuff.  I used to find the usb block erupters for dirt cheap cause they would spell it block eruptOr.  Search and you shall find.  Also amazing what you can find on craigslist too got an Antminer S2 for $650 once.

JT
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August 26, 2014, 04:25:55 PM
 #17953

do not mine with graphic card, your btc mined is even less then getting those free bitcoin at https://www.landofbitcoin.com/?r=phqCKSzE8j0J1vMW
get asic miner, usd 50 might get you a s1 if u bargain hard

haha an S1 for $50...
 imagine someone being that dumb...
cuz you know you cant buy an upgrade kit for them to make them S3's... no really you cant just yet Wink

maybe a Block eruptor Cube, those are only worth $50. s1's lil under $150 at x5 the hashing rate
wow funniest thing on ebay is people selling corsair 500+'s with a cube for under $50... the power supply is that value! nice deals if you can snag it!



I got a couple Antminer S1's for about $70 a pop after lots of bargain hunting.  Amazing what you find when people misspell stuff.  I used to find the usb block erupters for dirt cheap cause they would spell it block eruptOr.  Search and you shall find.  Also amazing what you can find on craigslist too got an Antminer S2 for $650 once.

JT
Myself as well. I was able to buy a single S1 + PSU for $110, as then two more for 0.065 each.

@Billbags, it was probably found right after another block, so there were no new transactions to include. It happens once and awhile.
Billbags
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August 26, 2014, 05:08:17 PM
 #17954

So a block includes these 4 things:

1. A set of transactions
2. A timestamp
3. The 256-bit hash of the preceeding block
4. A nonce sufficient to make the hash of the block not exceed the current target

I now assume the transaction amount could be ZERO if that's the number needed in the control theorys feedback loop to ensure the proper amount of time a block needs to be completed to get 2016 blocks every 2 weeks.

Update: If someone could confirm or disprove this, it would be appreciated greatly. I can't find that transaction figures would deal with time in the block equations, so my theory on zero transactions may be false.

60minhr∗24hrday∗7dayweek 10minblock=2016 in 2weeks

Tcurrent=Tprior∗tprior/2weeks

D=work/2(32)=2(256)/(Tcurrent+1)∗2(32)

hashes/second≈D∗2(32)/600

Update:
To validate a block, a node checks several things including that the block’s hash does not exceed the current target, that the timestamp inside the block is not too far in the future or the past, and that all transactions inside the block are valid. So now I'm assuming zero transactions = no invalid transactions. This would make the node accept the block and cue it to be confirmed while transmitting it to the other nodes.

Last Update:
I had totally forgotten the fact that transactions happen everyday without fees, so I now realize that a block with no transaction FEES doesn't mean there wasn't any transactions and most importantly a block can be solved with zero transactions. Sorry for the madness, just trying to understand block #317553.Time to log off, relax and enjoy the pools good luck for awhile.



Listen: meat beat manifesto ~ Edge of no control (pt.1)
Read:"He who controls the past controls the future. He who controls the present controls the past." ~ George Orwell
Think: http://unenumerated.blogspot.com/2014/12/the-dawn-of-trustworthy-computing.html
Moria843
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Found Lost beach - quiet now


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August 27, 2014, 12:28:29 AM
 #17955

I found the following block while mining with slush.

https://blockchain.info/block/000000000000000014bf07c25415110d1d565cc60db69f5acb3743843ede2937?site=slush

It had 0 transactions. Too bad I wasn't solo mining Smiley

Hot time, summer in the city, back of my mine getting hot & gritty!!!
sjc1490
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August 27, 2014, 12:29:26 AM
 #17956

I found the following block while mining with slush.

https://blockchain.info/block/000000000000000014bf07c25415110d1d565cc60db69f5acb3743843ede2937?site=slush

It had 0 transactions. Too bad I wasn't solo mining Smiley

Congrads and thanks.

BTC ADDRESS: 12Qwd8VKLQ4xF44ytHXBpCAKuF9VknG4X2
Moria843
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Found Lost beach - quiet now


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August 27, 2014, 12:30:14 AM
 #17957

I found the following block while mining with slush.

https://blockchain.info/block/000000000000000014bf07c25415110d1d565cc60db69f5acb3743843ede2937?site=slush

It had 0 transactions. Too bad I wasn't solo mining Smiley

Correction. It had 1 transaction - the 25 BTC award.

Hot time, summer in the city, back of my mine getting hot & gritty!!!
andyjjones
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August 27, 2014, 11:29:49 AM
 #17958

Why does the Bitcoin system allow for blocks with 0 transactions? 
KNK
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August 27, 2014, 12:32:41 PM
 #17959

Why does the Bitcoin system allow for blocks with 0 transactions? 

Why not?
Bitcoin system is set to produce a block every ~10min with or without transactions in case there are none as it was in it's first days. The first transaction ever is in block 170 should we loose 169 blocks because there are no transactions?

BTC tips: 1KNK1akhpethhtcyhKTF2d3PWTQDUWUzHE
guitarplinker
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August 27, 2014, 03:02:09 PM
 #17960

I found the following block while mining with slush.

https://blockchain.info/block/000000000000000014bf07c25415110d1d565cc60db69f5acb3743843ede2937?site=slush

It had 0 transactions. Too bad I wasn't solo mining Smiley
If you don't mind me asking, how much hashpower were you pointing at Slush's when you found that block?

Also, congrats on finding the block!
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