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Author Topic: Got a Lot of Questions  (Read 720 times)
knknif
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June 30, 2011, 03:33:16 AM
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Ive been having a million questions running though my head but no place to ask them until I finally remembered this website has a forum!

Here they are, answer one or all, everything helps.

1.) Can I/is it difficult to set up my own pool with me and my friends?  Is it worth it?

2.) How fast would my computer have to mine to make solo mining worth it?  Is there hard numbers for this?

3.) I currently mine at around 95Mhash/s on this computer...The first night I started mining I found a block.  How lucky was I?
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There are several different types of Bitcoin clients. Header-only clients like MultiBit trust that the majority of mining power is honest for the purposes of enforcing network rules such as the 21 million BTC limit. Full clients do not trust miners in this way.
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python
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June 30, 2011, 04:41:32 AM
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2.) How fast would my computer have to mine to make solo mining worth it?  Is there hard numbers for this?
 you need buy 5XXX
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June 30, 2011, 04:44:38 AM
 #3

Ive been having a million questions running though my head but no place to ask them until I finally remembered this website has a forum!

Here they are, answer one or all, everything helps.

1.) Can I/is it difficult to set up my own pool with me and my friends?  Is it worth it?


Difficult for your average Windoze user, sure.  Not difficut for anyone who has ever tried to install Linux and enjoyed the learning experience.  It's not a project for non-geeks.

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2.) How fast would my computer have to mine to make solo mining worth it?  Is there hard numbers for this?


This is case specific.  No one can rationally answer this for you except you.  My best guess is that it's probably not worth it.  I don't mine, myself.

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3.) I currently mine at around 95Mhash/s on this computer...The first night I started mining I found a block.  How lucky was I?

Incrediblely lucky.  Go buy a lottery ticket before it wears off.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
nonameo
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June 30, 2011, 06:38:23 AM
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Are you sure you found a block? did you get 50btc? Or are you part of a pool?

knknif
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July 01, 2011, 04:17:00 AM
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Hah.  I definitely found a block.  Started mining in the evening, woke up in the morning and I had 50BTC.  Ive sold 20BTC and am waiting on the money to come through to my bank.  If it does I am going to buy a 6970.  I could buy it anyways but I would rather be sure this is for real before I spend that much on a card that I dont necessarily need right now.  I still need to buy a drumset and my baby girl is due any day now!
Amused2death
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July 01, 2011, 04:24:00 AM
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There really isn't a hard number to by for solo mining, but IMHO with the difficulty now I would want atleast 2Ghash/sec. You can look on the wiki for the hardware comparison of different cards.
knknif
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July 01, 2011, 04:49:01 AM
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Roger that.  Theres not really a downside to pool mining anyway from what I understand right?  Assuming no fees are being paid of course?
DiamondPlus
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July 01, 2011, 06:25:06 AM
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Roger that.  Theres not really a downside to pool mining anyway from what I understand right?  Assuming no fees are being paid of course?


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