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Author Topic: first week mining  (Read 943 times)
downwithgov
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October 01, 2013, 03:42:40 PM
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I have a new little usb to uart bridge controller that i am using to mine btc with gui miner.  i have been impressed with it, and have already seen a few cents come in.  I have a few questions about gui, on the screen it says best share: .,  mine for the first few days said 11.2 k and now today it says 25.2k.  Anyone know how much of a btc that amount is?  is 25.2 k small? 

any info for this noobie would be appreciated
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Jennifer Smith
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October 01, 2013, 04:51:00 PM
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After receiving a few cents worth, how much have you spent in electricity?
downwithgov
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October 01, 2013, 06:58:01 PM
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i dont have a smart meter so i cant say for sure.  bc power rates are low and its all a good test.  i m getting 330 mh/s and am up to 0.008 btc now.  not bad for 5 days i think.
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October 01, 2013, 07:10:50 PM
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It's really bad I'd say... you should google for a bitcoin mining calculator

pontiacg5
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October 01, 2013, 07:45:52 PM
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i dont have a smart meter so i cant say for sure.  bc power rates are low and its all a good test.  i m getting 330 mh/s and am up to 0.008 btc now.  not bad for 5 days i think.

You've made $1.04 in 5 days. You probably won't even be able to withdraw BTC from your mining pool for another two weeks, due to the .1BTC minimum most pools have! Even after those two weeks you'd still only potentially make $13.

What are you mining with? I hope it's a USB block eruptor and not a VGA otherwise I'm sure you are loosing money on electricity.

Your best share doesn't mean anything, you will get paid the same for an 11.2K share as you do for a 25.2K. Some more reading on mining will clear that up for you, for some reason most newbies think similar to you so there are lots of threads on the subject.

Please DO NOT send me private messages asking for help setting up GPU miners. I will not respond!!!
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October 01, 2013, 08:03:18 PM
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it depends as everything about bitcoin varys, shares dont really mean anything its just a basic way of telling people how many shares or theorys they have submitted... pools vary as most of them now dont use a share difficulty of 1, its basicly just there to see how much you get paid when the pool finds a block some large pools youll get 200 shares but other people might get 2million shares so you get a small %

downwithgov
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October 01, 2013, 08:44:07 PM
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i see.  thanks for clearing that up.  you are correct about not being able to with draw from my pool until it gets up to a certain amount.  im on deepbit right now, testing the water all around.  you are also correct about my hardware, its tickin along just fine, and the electricty meter isnt spinning out of control.  thank you all for your input and timely responses.
MagicBit15
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October 01, 2013, 09:58:43 PM
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I am really confused do you mean 24.5 mb? or Kb?

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pontiacg5
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October 01, 2013, 10:17:22 PM
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It's just a block eruptor.  I think they draw 5W.  12 of them draw the same as one light bulb, assuming your computer isn't on any longer than it used to.
Either way, welcome -- it is fun to mine, just don't sink any more money into it.  The best share is just for information.  Each share is worth the same no matter how good or bad it is.  That's why you use a pool.  If you were solo mining you wouldn't get anything at all unless you got a share worth 90 million.

Uhh, don't you mean nearly 150 million or higher?

MagicBit15 - You really are confused! Go read up on bitcoin difficulty a bit, it will make sense then.

If you paid around $20 for that USB asic you seem well on your way to break even (something most everyone thinks impossible for some odd reason) plus you are contributing to network diversity, all good things. Congrats!




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po1992one
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October 01, 2013, 10:25:52 PM
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mine for the first few days said 11.2 k and now today it says 25.2k.  Anyone know how much of a btc that amount is?  is 25.2 k small? 

It says you would found block solo mining if the difficulty would be 11.200 (or lower) or 25.200 (or lower) respectively. Current dificulty is 148.819.200 just for comparsion
downwithgov
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October 01, 2013, 10:44:09 PM
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thanks for the comments pontiac, i paid 25 for it, and i hope to break even, and hopefully then some.  I believe bitcoin to be an integral part of the solution to alot of societys fallies and am proud to be a part of it.  I have to say that in daily life, one can lose hope, dealing with willfull idiots of orwellian perpotion, but i find santurary away from that in bitcoin.
balanghai
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October 01, 2013, 11:09:51 PM
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I have a new little usb to uart bridge controller that i am using to mine btc with gui miner.  i have been impressed with it, and have already seen a few cents come in.  I have a few questions about gui, on the screen it says best share: .,  mine for the first few days said 11.2 k and now today it says 25.2k.  Anyone know how much of a btc that amount is?  is 25.2 k small? 

any info for this noobie would be appreciated

Buy more efficient miners with higher Gh/s per Dollar. With fewer electricity consumption. Do your own research.
cp1
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October 01, 2013, 11:11:33 PM
 #13

Buy more efficient miners with higher Gh/s per Dollar. With fewer electricity consumption. Do your own research.

No -- don't buy any more miners until you make a profit from this one first.

Guide to armory offline install on USB key:  https://bitcointalk.org/index.php?topic=241730.0
downwithgov
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October 01, 2013, 11:36:57 PM
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ya, i am gonna wait it out till this little bad boy pays off. ive also been looking at a saturn from knc.  im sure you have caught wind of these, I read the massive thread you have on it. 

thanks again for all your responses, this is a good site
wdu
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October 02, 2013, 12:23:51 AM
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good to hear your mining is going well...

I might have to give it a try myself.
downwithgov
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October 02, 2013, 02:10:05 AM
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thanks for your good wishes.  im now up to 0.01564 btc.  ya baby this is too cool.
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October 02, 2013, 02:43:33 AM
 #17

It's always nice to see people getting excited about Bitcoin Mining Smiley Especially when it's small-fry mining Smiley
cp1
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October 02, 2013, 10:41:19 PM
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Now only 1500 years to go.

Guide to armory offline install on USB key:  https://bitcointalk.org/index.php?topic=241730.0
young3dvard
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October 02, 2013, 10:49:21 PM
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Now only 1500 years to go.

Maybe average 1500 years, but might be tommorow as well if very lucky  Tongue
cp1
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October 02, 2013, 10:54:03 PM
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I think 1500 years is actually too optimistic.

Guide to armory offline install on USB key:  https://bitcointalk.org/index.php?topic=241730.0
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