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Author Topic: [closed] Bitcoind Pooled Mining Association  (Read 16427 times)
Anonymous
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January 20, 2011, 01:54:36 AM
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Topic locked .

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FreeMoney
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January 20, 2011, 02:44:02 AM
 #2

I am interested in this.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
Anonymous
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January 20, 2011, 03:12:18 AM
 #3

Freemoney are you on irc ?
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January 20, 2011, 04:16:56 AM
 #4

Freemoney are you on irc ?

I have to get away from this damn machine for a while, I'll try to get on when I inevitably come back in a few hours.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
Anonymous
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January 20, 2011, 04:35:30 AM
 #5

Freemoney are you on irc ?

I have to get away from this damn machine for a while, I'll try to get on when I inevitably come back in a few hours.

Take as much time as you need. I will likely be at work when you return however we might have a wiki up by then.
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January 20, 2011, 04:58:59 AM
 #6

I propose we establish an acronym: b Huh i Huh t Huh c Huh o Huh i Huh n Huh d Huh  Suggestions?

Tiny list of possible words:
bitcoind
is
the
club, co-op, collective, community
of
incredible, investment
new, not
daemon, dreams, dwarves
Anonymous
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January 20, 2011, 05:08:38 AM
 #7

bitcoind
is
te
co-op
of
incredible
new
dreams

!
grondilu
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January 20, 2011, 12:32:57 PM
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I'm in the process of getting more user priviledges on freeshell.org.

Hopefully that should permit me to host my bitcoin stock exchange plateform.
Anonymous
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January 20, 2011, 04:07:12 PM
 #9


I'm in the process of getting more user priviledges on freeshell.org.

Hopefully that should permit me to host my bitcoin stock exchange plateform.


Excellent.
grondilu
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January 20, 2011, 05:01:02 PM
 #10

Excellent.

Let me also remind everyone that the source code is already available.

http://github.com/grondilu/bitcoin-bash-tools

So if anyone wants to host it himself, please feel free to do so.

I want this stuff to exist, whether it is me or anyone else who host it doesn't matter much.
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January 22, 2011, 01:20:49 AM
 #11

To be honest, the miner rig will draw quite a bit of current. Did you consider that bitcoins get harder/less profitable to generate and electricity prices are going up? What's the current situation? And if it is profitable right now, for how long will it be before you'll save money by keeping those servers offline?

Electricity is a big cost for running servers, way above bandwidth in normal situations and not far from the cost for the hardware over its life-cycle.

If it lasts long enough to pay for the hardware, I guess go for it.Smiley
Anonymous
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January 22, 2011, 01:54:36 AM
 #12

To be honest, the miner rig will draw quite a bit of current. Did you consider that bitcoins get harder/less profitable to generate and electricity prices are going up? What's the current situation? And if it is profitable right now, for how long will it be before you'll save money by keeping those servers offline?

Electricity is a big cost for running servers, way above bandwidth in normal situations and not far from the cost for the hardware over its life-cycle.

If it lasts long enough to pay for the hardware, I guess go for it.Smiley


It has been modified so that the  miner will be a client and the pool server will be on a vps somewhere else. This makes it a lot easier to manage.

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January 22, 2011, 02:02:42 AM
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To be honest, the miner rig will draw quite a bit of current. Did you consider that bitcoins get harder/less profitable to generate and electricity prices are going up? What's the current situation? And if it is profitable right now, for how long will it be before you'll save money by keeping those servers offline?

Electricity is a big cost for running servers, way above bandwidth in normal situations and not far from the cost for the hardware over its life-cycle.

If it lasts long enough to pay for the hardware, I guess go for it.Smiley


It has been modified so that the  miner will be a client and the pool server will be on a vps somewhere else. This makes it a lot easier to manage.

Yep, I know the arrangement. Bad wording from my part, my question was much simpler. The mining rigs draw electricity for a cost that now or at some later time could be equal to or more than the coins generated. What then?
Anonymous
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January 22, 2011, 02:27:50 AM
 #14

To be honest, the miner rig will draw quite a bit of current. Did you consider that bitcoins get harder/less profitable to generate and electricity prices are going up? What's the current situation? And if it is profitable right now, for how long will it be before you'll save money by keeping those servers offline?

Electricity is a big cost for running servers, way above bandwidth in normal situations and not far from the cost for the hardware over its life-cycle.

If it lasts long enough to pay for the hardware, I guess go for it.Smiley


It has been modified so that the  miner will be a client and the pool server will be on a vps somewhere else. This makes it a lot easier to manage.

Yep, I know the arrangement. Bad wording from my part, my question was much simpler. The mining rigs draw electricity for a cost that now or at some later time could be equal to or more than the coins generated. What then?

There is nothing stopping us renting out the cluster for uses other than bitcoin mining. Corporations and Scientific projects etc need hashing power and are willing to pay for it. In between those contracts bitcoin mining would take place. Think Big!    Smiley
mizerydearia
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January 22, 2011, 02:31:09 AM
 #15

There is nothing stopping us renting out the cluster for uses other than bitcoin mining. Corporations and Scientific projects etc need hashing power and are willing to pay for it. In between those contracts bitcoin mining would take place. Think Big!    Smiley

Perhaps the payment could be handled in bitcoins.
Anonymous
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January 22, 2011, 02:41:05 AM
 #16

There is nothing stopping us renting out the cluster for uses other than bitcoin mining. Corporations and Scientific projects etc need hashing power and are willing to pay for it. In between those contracts bitcoin mining would take place. Think Big!    Smiley

Perhaps the payment could be handled in bitcoins.

Of course  Smiley

I think that would promote bitcoin particularly to the scientific community.


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January 22, 2011, 01:43:34 PM
 #17

What kind of ROI can one expect from this? Or is this purely a way to stabilize the network by throwing yet another cluster at it? If it's the latter I'd say let's create multiple small ones instead of a central one that increases vulnerability.

Want to see what developers are chatting about? http://bitcoinstats.com/irc/bitcoin-dev/logs/
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January 22, 2011, 02:06:59 PM
 #18

What kind of ROI can one expect from this? Or is this purely a way to stabilize the network by throwing yet another cluster at it? If it's the latter I'd say let's create multiple small ones instead of a central one that increases vulnerability.

At 350btc investment from 100 people we should have our investment back in three to four months in btc and then it's all profit less running costs from there. That is my guess anyway.

PGP key id at pgp.mit.edu 0xA68F4B7C

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January 22, 2011, 02:16:08 PM
 #19

This club could benefit from further assistance with preparing a website to outline/detail the ideas and efforts of this community.  Would anyone like to volunteer?
Anonymous
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January 23, 2011, 02:57:28 AM
 #20

What kind of ROI can one expect from this? Or is this purely a way to stabilize the network by throwing yet another cluster at it? If it's the latter I'd say let's create multiple small ones instead of a central one that increases vulnerability.

That is one of the benefits. My thinking is that there could be clusters in many different countries or states eventually as enough bitcoins are produced to build the next cluster.

This is also where the pool comes in ....



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