[CLOSED] BTCMine - ZERO fee mining pool (LP, SSL, JSON API, P2SH)

[spndr7]

Using GPU ATI Radeon HD 5570 for bitcoin mining will be profitable ?

[dbitcoin]

Using GPU ATI Radeon HD 5570 for bitcoin mining will be profitable ?

https://en.bitcoin.it/wiki/Mining_hardware_comparison

5570  60-64 Mhash/s  39W
If other your computer components have power consumption less than 400Wt/h, then yes.

[kgo]

spnd7,

Because you've asked a few times if X will be profitable, I just want to give a friendly reminder that bitcoins are an extremely high risk investment.  The numbers dbitcoin has posted give you a good idea if you're better off mining bitcoins, or just buying them directly, based on your cost of producing and the currrent cost of coins.  But we have no idea what bitcoins will be worth in a year.  It could be five cents, it could be five dollars.  Everyone here is speculating that the price will go up, but there's no guarantees that any of this will be profitable.

If you're fine with taking that risk and running with the GPU listed above, cool, but keep in mind mining isn't guaranteed free money.

[shivansps]

this round is killing me, literally.

[spndr7]

kgo ...

You are new to bitcoin.Last year during May,difficulty was very less,I mined 450 BTC within 15 days using official bitcoin client and at 1 Mhash/s.At that time bitcoins were not as worthy as they are now so  wasted them by converting to liberty reserve at very very less rate.I have seen it rise from nothing to a dollar within a year.When I say to my friends that the thing which was running in my computer would have earned me 20000 INR(Indian National Rupee) if I have not wasted, then but they don't believe.But it's amazing !!

[kgo]

Oh man, that sucks.

Yeah, I'd heard about bitcoins here and there over the past six months, but totally blew them off.  I assumed they were basically like other internet currencies.  That they were basically coupons or tokens that the owner just printed when you gave them real money.  I didn't realize there was a economic structure and scarcity to back it up.  Now I'm kicking myself for not running a miner before the rise of the GPUs.

I just wanted to point out that megaHash per kilowatt really only tells you if you're currently generating the coins at a cheaper rate than you can buy them, it's not really a measure of long-term profitability.  But of course I too am hoping the rate goes up over the next few years.

Anyway, good luck with your miner.

[kgo]

FINALLY!!!

Man, over a day was painful enough when we were at 4 GigaHash...  But this was killer...

[Littleshop]

FINALLY!!!

Man, over a day was painful enough when we were at 4 GigaHash...  But this was killer...

When I was solo I had no hits for 20 days on one machine.   That was bad!

[kgo]

When I was solo I had no hits for 20 days on one machine.   That was bad!

I was wondering why some of the bigger guys like you bothered with a pool.  I thought at that point it wouldn't be worth the commission.  But yeah, 20 days would be excruciatingly painful.

[Littleshop]

Remote monitoring is another reason I pool. The 2% commission is worth being able to see all machines in one spot.  I have a variety of smaller machines , my biggest single machine is a dual 5870

[marcus_of_augustus]

The way the network is growing, difficulty climbing and will climb again now price has taken another jump (2 weeks delayed), even some of the big guys become little guys quite quickly.

It is getting really competitive.

[marcus_of_augustus]

What's the BTCmine.com policy regarding transaction fees that maybe included in blocks? (e.g. Will they be distributed to the miners or retained by the operator?)

Also, do you have a policy for how many free transactions are included?

[dbitcoin]

What's the BTCmine.com policy regarding transaction fees that maybe included in blocks? (e.g. Will they be distributed to the miners or retained by the operator?)

Also, do you have a policy for how many free transactions are included?

Currently all fees retained by the operator. There is not so much fees actually.
From all solved blocks less than 5 BTC. I even don't count it.
Most solved blocks without fees at all.
Right now pool accept limited amount of free transactions, for preventing zero fee flood spam.

[Littleshop]

What's the BTCmine.com policy regarding transaction fees that maybe included in blocks? (e.g. Will they be distributed to the miners or retained by the operator?)

Also, do you have a policy for how many free transactions are included?

Currently all fees retained by the operator. There is not so much fees actually.
From all solved blocks less than 5 BTC. I even don't count it.
Most solved blocks without fees at all.
Right now pool accept limited amount of free transactions, for preventing zero fee flood spam.

When I was solo I solved eight blocks, three had transaction fees of .05 or less, the others zero.  I do think trans fees will become much more common as time goes forward.

[marcus_of_augustus]

Yeah, i knew it wouldn't be worth worrying about, just making a mental note for the future.

[LightRider]

If the new beta client is any indication, fees will become far more common. I had to pay a fee for a .05 transaction yesterday.

[dbitcoin]

New GPU miner Phoenix v1.01 added to download.
Long polling support for this version enabled.

[dishwara]

New GPU miner Phoenix v1.01 added to download.
Long polling support for this version enabled.

Place it in front page here & in your site.
For others here it is http://btcmine.com/page/download/

[shivansps]

another bad bad day

[dbitcoin]

another bad bad day

You mean normal day?

For 15Ghash:
Average   7 hours, 20 minutes
50%   5 hours, 5 minutes
95%   22 hours, 0 minutes

We already found 3 blocks