GSnak
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July 30, 2013, 03:20:07 AM |
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[...] so IMHO it's not worth the electricity to mine at this point.
...that's why I turned of my dual HD5850 Bitcoin miner in June 2011 - it was simply not worth investing the electricity for the lousy 0.8 BTC (per day) I could earn by pooled mining these days... This time I'm going to make other mistakes  When cost to mine>cost to buy, you're better off using cash to purchase it on the market.
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lucasjkr
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July 30, 2013, 03:15:40 PM |
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[...] so IMHO it's not worth the electricity to mine at this point.
...that's why I turned of my dual HD5850 Bitcoin miner in June 2011 - it was simply not worth investing the electricity for the lousy 0.8 BTC (per day) I could earn by pooled mining these days... This time I'm going to make other mistakes  When cost to mine>cost to buy, you're better off using cash to purchase it on the market. It's still far too difficult to get cash into the ecosystem. At least for Americans. I can use mtgoz, but that incurs wire transfer fees I can use virwox, but you get hit with many 2.5% commissions (I think there a fee to make initial deposit, another to sell dollars and buy lindens, another to sell lindens and buy BTC, and yet another to withdraw those BTC. I can use campbx, but I have to wait 30 days before dwolla will let them let me withdraw those btcs. Or I can use local bitcoins. But everyone there seems to charge 10-20% more than the mtgox price. That's why people mine even when mining costs more than just buying the coins.
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mustyoshi
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July 30, 2013, 06:57:30 PM |
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So the difficulty has been ~9.2x for over a week now.
Where will GPU mining take us?
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Lauda
Legendary
Offline
Activity: 2674
Merit: 3004
Terminated.
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July 30, 2013, 07:03:13 PM |
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So the difficulty has been ~9.2x for over a week now.
Where will GPU mining take us?
Who knows, much much higher 
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"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion)
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mechs
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July 30, 2013, 11:34:03 PM |
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[...] so IMHO it's not worth the electricity to mine at this point.
...that's why I turned of my dual HD5850 Bitcoin miner in June 2011 - it was simply not worth investing the electricity for the lousy 0.8 BTC (per day) I could earn by pooled mining these days... This time I'm going to make other mistakes  When cost to mine>cost to buy, you're better off using cash to purchase it on the market. It's still far too difficult to get cash into the ecosystem. At least for Americans. I can use mtgoz, but that incurs wire transfer fees I can use virwox, but you get hit with many 2.5% commissions (I think there a fee to make initial deposit, another to sell dollars and buy lindens, another to sell lindens and buy BTC, and yet another to withdraw those BTC. I can use campbx, but I have to wait 30 days before dwolla will let them let me withdraw those btcs. Or I can use local bitcoins. But everyone there seems to charge 10-20% more than the mtgox price. That's why people mine even when mining costs more than just buying the coins. Not true about CampBX. It only 30 days from when you first deposit funds - after those first 30 days, the account is verified and no longer any delays. The only delay is funding Dwolla (sending from Dwolla to CampBX is instant). CampBX is great for smaller purchases, their fee 0.55% - the only problem with them is lack of liquidity. Still always cheaper than both Mt. Gox and Coinbase.
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Trillium
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July 30, 2013, 11:53:59 PM |
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The release of a GPU miner might just counteract all those expiring 30 day DigitalOcean trails? Amiright guys? 
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BTC:1AaaAAAAaAAE2L1PXM1x9VDNqvcrfa9He6
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Lauda
Legendary
Offline
Activity: 2674
Merit: 3004
Terminated.
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July 31, 2013, 12:01:02 AM |
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Stuff has settled down in regards to XPM 
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"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion)
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Trillium
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July 31, 2013, 01:10:10 PM |
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Stuff has settled down in regards to XPM  Difficulty has dropped throughout today. Within a week we might peek back under 9.0 diff. That would be interesting. I added some more servers today at my place and I'm getting a few thousand more PPS. Bring it on I say!
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BTC:1AaaAAAAaAAE2L1PXM1x9VDNqvcrfa9He6
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gigawatt
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July 31, 2013, 02:49:26 PM |
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Stuff has settled down in regards to XPM  Difficulty has dropped throughout today. Within a week we might peek back under 9.0 diff. That would be interesting. I added some more servers today at my place and I'm getting a few thousand more PPS. Bring it on I say! I just went the lazy route. Spent ~48 hours running parameter benchmarks and found some hearty improvements to my average 5-chain/hr. Its going pretty well though. Mined 5 blocks in the last 24hrs, so I can't really complain.
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crendore
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July 31, 2013, 03:29:07 PM |
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Stuff has settled down in regards to XPM  Difficulty has dropped throughout today. Within a week we might peek back under 9.0 diff. That would be interesting. I added some more servers today at my place and I'm getting a few thousand more PPS. Bring it on I say! I just went the lazy route. Spent ~48 hours running parameter benchmarks and found some hearty improvements to my average 5-chain/hr. Its going pretty well though. Mined 5 blocks in the last 24hrs, so I can't really complain. Mind i if i ask what settings you are using?
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jpmi1
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July 31, 2013, 04:49:18 PM |
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Stuff has settled down in regards to XPM  Difficulty has dropped throughout today. Within a week we might peek back under 9.0 diff. That would be interesting. I added some more servers today at my place and I'm getting a few thousand more PPS. Bring it on I say! I just went the lazy route. Spent ~48 hours running parameter benchmarks and found some hearty improvements to my average 5-chain/hr. Its going pretty well though. Mined 5 blocks in the last 24hrs, so I can't really complain. VPS?
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YinCoin YangCoin ☯☯ RELAUNCH First Ever POS/POW Alternator! Multipool! ☯ ☯ https://poloniex.com/exchange/btc_yinXPM:AeuQPMAGRLyWbWkVgAtE4JcfSyGHATUkmG DTC:D9mwyQo9xPAPWCtKYhthnX2uSPivcjKyLN
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cyberstef
Newbie
Offline
Activity: 49
Merit: 0
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August 01, 2013, 03:01:55 AM |
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I was wondering if a clone of primecoin will have any scientific value? Is primecoin eventually will find ALL the primes or only some? So it make a primecoin clone valueless? Am I missing something? Thanks.
Disclosure: i'm not planning to launch any clone coin, i'm just curious to understand more.
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lucasjkr
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August 01, 2013, 03:20:12 AM |
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I'm not a mathemetician but my understanding is that
A) There's essentially an unlimited number of primes. Even when youre talking numbers hundreds of digits long, yoiu'll still find primes in them pretty regularly (every couple hundred digits or so).
B) Primecoin isn't even trying to find the biggest primes out there - indeed if it was and did, Sonny would qualify for some pretty big reward money
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notme
Legendary
Offline
Activity: 1904
Merit: 1002
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August 01, 2013, 03:24:43 AM |
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I'm not a mathemetician but my understanding is that
A) There's essentially an unlimited number of primes. Even when youre talking numbers hundreds of digits long, yoiu'll still find primes in them pretty regularly (every couple hundred digits or so).
B) Primecoin isn't even trying to find the biggest primes out there - indeed if it was and did, Sonny would qualify for some pretty big reward money
Primecoin finds chains of smaller primes because they are easier to verify. Verification needs to be quick for a proof of work to function properly. Verifying primality of very large numbers is hard.
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itod
Legendary
Offline
Activity: 1988
Merit: 1077
Honey badger just does not care
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August 01, 2013, 07:53:34 AM |
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I was wondering if a clone of primecoin will have any scientific value? Is primecoin eventually will find ALL the primes or only some? So it make a primecoin clone valueless? Am I missing something? Thanks. If all the mankind turn every computer that has ever being built, and ever will be built, to running prmecoin finding primes, and do that till the end of mankind, all primes that would be found would be drop in the ocean, while the rest of the ocean are non-found primes. And even this is overly optimistic, that drop should be divided infinite number of times and only one tiny-tiny part of that drop would be found primes.
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bcp19
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August 01, 2013, 10:54:33 AM |
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I'm not a mathemetician but my understanding is that
A) There's essentially an unlimited number of primes. Even when youre talking numbers hundreds of digits long, yoiu'll still find primes in them pretty regularly (every couple hundred digits or so).
B) Primecoin isn't even trying to find the biggest primes out there - indeed if it was and did, Sonny would qualify for some pretty big reward money
I have a feeling that the biggest primes are safe since the top 10 are all Mersenne Primes found by GIMPS. Primecoin has helped find record Cunningham primes in the 120-160 digit length, GIMPS' record is something like 17 million digits. The next reward from EFF is for a 100,000,000+ digit prime ($100,000) and a 1,000,000,000+ digit prime ($150,000).
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I do not suffer fools gladly... "Captain! We're surrounded!" I embrace my inner Kool-Aid.
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Aggrophobia
Legendary
Offline
Activity: 1106
Merit: 1001
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August 01, 2013, 11:18:30 AM |
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I'm not a mathemetician but my understanding is that
A) There's essentially an unlimited number of primes. Even when youre talking numbers hundreds of digits long, yoiu'll still find primes in them pretty regularly (every couple hundred digits or so).
B) Primecoin isn't even trying to find the biggest primes out there - indeed if it was and did, Sonny would qualify for some pretty big reward money
I have a feeling that the biggest primes are safe since the top 10 are all Mersenne Primes found by GIMPS. Primecoin has helped find record Cunningham primes in the 120-160 digit length, GIMPS' record is something like 17 million digits. The next reward from EFF is for a 100,000,000+ digit prime ($100,000) and a 1,000,000,000+ digit prime ($150,000). means (2^332.xxx.xxx)-1 , to confirm that a number this large is prime with LL would need 2000 hours with a GTX Titan or 3400 hours with an 8-core CPU now you have to see that the chance to find a Mersenne Prime in that range is 1 : 370000 (many candidates are proven composite with trialfactoring) so normally it would need ~168.000 years for one person to find a 100,000,000+ digit prime, try your luck 
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Stinky_Pete
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August 01, 2013, 11:22:10 AM |
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Primecoin isn't trying to find all primes, even small ones. It is looking for Cunningham chains (and, no, I don't know what they are either)
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bcp19
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August 01, 2013, 11:35:47 AM |
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I'm not a mathemetician but my understanding is that
A) There's essentially an unlimited number of primes. Even when youre talking numbers hundreds of digits long, yoiu'll still find primes in them pretty regularly (every couple hundred digits or so).
B) Primecoin isn't even trying to find the biggest primes out there - indeed if it was and did, Sonny would qualify for some pretty big reward money
I have a feeling that the biggest primes are safe since the top 10 are all Mersenne Primes found by GIMPS. Primecoin has helped find record Cunningham primes in the 120-160 digit length, GIMPS' record is something like 17 million digits. The next reward from EFF is for a 100,000,000+ digit prime ($100,000) and a 1,000,000,000+ digit prime ($150,000). means (2^332.xxx.xxx)-1 , to confirm that a number this large is prime with LL would need 2000 hours with a GTX Titan or 3400 hours with an 8-core CPU now you have to see that the chance to find a Mersenne Prime in that range is 1 : 370000 (many candidates are proven composite with trialfactoring) so normally it would need ~168.000 years for one person to find a 100,000,000+ digit prime, try your luck  I used 2 cores of an i5 2500k on such a number and it took over 200 days to complete. Using an 8 core CPU would be a huge power waste for very little speed gain. The P95 program is very efficient, so memory bandwidth becomes an issue. In addition, each iteration depends on the one prior, so parallelation is impossible. IIRC, on my 2500k, using a single core would run at 144ms per iteration, 2 cores at 75ms, 3 cores at 60ms and all 4 core 55ms. VERY inefficient with multiple cores.
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I do not suffer fools gladly... "Captain! We're surrounded!" I embrace my inner Kool-Aid.
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mustyoshi
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August 01, 2013, 12:08:20 PM |
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ypool is basically finding all the blocks at this point.
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