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Cryptoman
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March 23, 2011, 05:04:15 PM |
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The downside of this is that the time to find blocks is very variable. It's possible you'll mine for months and not find anything. With your hashing rate I strongly suggest joining a pool ( slush's, Tycho's, btcmine, ...) I'll second this recommendation. You only lose a few percent by mining in a pool. On the other hand, you could have an unlucky start to your mining and not find a block for 100 days or more. The general rule of thumb is if your GPU has an average generation time of greater than a couple of weeks then you should mine in a pool. YMMV. |
"A small body of determined spirits fired by an unquenchable faith in their mission can alter the course of history." --Gandhi
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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CryptikEnigma (OP)
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March 23, 2011, 10:30:33 PM |
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Okay, I think I finally got the hang of it now, thanks to everyone who kindly answered my questions  |
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Distribution
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March 24, 2011, 02:58:58 AM |
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If you were looking to get a little more, you could sign up at Bitcoin Bonus which gives you .10 btc for signing up and a percentage of stuff you buy for referred purchases. Not to mention a referral bonus for getting your friends to sign up. |
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curator
Newbie
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Activity: 21
Merit: 0
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March 25, 2011, 10:06:43 PM |
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Hey, since this is the "new" thread (of which I still consider myself), why would you need a username/password for solo mining? Where are you signing up to to confirm it's you? I'm in a pool right now, so the u/p scheme makes sense.
Thanks.
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MoonShadow
Legendary
Offline
Activity: 1708
Merit: 1007
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March 25, 2011, 10:09:57 PM |
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Hey, since this is the "new" thread (of which I still consider myself), why would you need a username/password for solo mining?
You don't. My client has never asked for that. |
"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'
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CryptikEnigma (OP)
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March 25, 2011, 10:26:55 PM |
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Hey, since this is the "new" thread (of which I still consider myself), why would you need a username/password for solo mining?
You don't. My client has never asked for that. I think he is talking about clients like poclbm, which does ask you for a username and password for solo mining. |
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LMGTFY
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March 25, 2011, 10:30:33 PM |
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I think he is talking about clients like poclbm, which does ask you for a username and password for solo mining.
DiabloMiner does as well: ./DiabloMiner-Linux.sh
...
Remember to set rpcuser and rpcpassword in your ~/.bitcoin/bitcoin.conf
before starting bitcoind or bitcoin --daemon |
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eMansipater
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March 26, 2011, 02:11:13 AM |
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Hey, since this is the "new" thread (of which I still consider myself), why would you need a username/password for solo mining? Where are you signing up to to confirm it's you? I'm in a pool right now, so the u/p scheme makes sense.
Thanks.
Mining clients which use the user/password functionality, instead of just an address which you own, are able to be run over networks. Thus you could, for example, run the mining clients on many computers connected via LAN but have them all connected to just one computer that runs the normal bitcoin client, minimising internet bandwidth use and the cpu load of verifying transactions (which is significant once you scale up). You are still "solo" mining because you're not connected to a pool, but this allows you to sort of form your own pool. |
If you found my post helpful, feel free to send a small tip to 1QGukeKbBQbXHtV6LgkQa977LJ3YHXXW8B Visit the BitCoin Q&A Site to ask questions or share knowledge. 0.009 BTC too confusing? Use mBTC instead! Details at www.em-bit.org or visit the project thread to help make Bitcoin prices more human-friendly. |
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