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Author Topic: Newbie Questions  (Read 911 times)
pginvest
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November 11, 2011, 09:24:12 PM
 #1

As i'm new here and i can only post here...

My questions are:
1-Mining thing:
I have a Asus X54L i3-2310M 2.1 Ghz it doesn't have a openGL GPU and using GUIminer i get 700 Khash. Isn't this too low? A friend of mine has a Asus MV50M with a celeron 2 (cpu: duo P8600) and a geforce 9600m GS and get 4 Mhash with GPU and 2 Mhash on cpu. He also runs GUIminer. What am i doing wrong?

2- Mining pools:
Which one is best? BTCGuild or Deepbit? I run both... splitting my 700 Khash. Where should i get faster payouts?

3-BTC to Euro bank account:
I've read about intersango, MTGox and AQOIN. Are they safe? Which one is better to Portuguese bank account?

Thanks for your answers.
PGInvest Smiley


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P4man
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November 11, 2011, 09:47:20 PM
 #2

As i'm new here and i can only post here...

My questions are:
1-Mining thing:
I have a Asus X54L i3-2310M 2.1 Ghz it doesn't have a openGL GPU and using GUIminer i get 700 Khash. Isn't this too low? A friend of mine has a Asus MV50M with a celeron 2 (cpu: duo P8600) and a geforce 9600m GS and get 4 Mhash with GPU and 2 Mhash on cpu. He also runs GUIminer. What am i doing wrong?

What you are doing wrong is not using a half decent ATI/AMD videocard. Honestly, none of the above hardware makes any sense to mine with. To give you an idea, a 5850 videocard gets 360+ MHash. Thats 360000  KH/s. Compare that to 700. Profits are directly proportional to hash rate, and I can assure you, with a single 5850 you wont make much. With your cpu you will essentially make nothing. Feel free to mine for a while and collect 0.0001 BTC or so per month, just dont think you are even earning back 1/10th of a percent of the electricity cost, because you are not.
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2- Mining pools:
Which one is best? BTCGuild or Deepbit? I run both... splitting my 700 Khash. Where should i get faster payouts?

Well, usually Id say, check my signature. Its an awesome pool with zero fees and if you want, a very nice miner app (launches from the website, give it a try). But with that hardware I have to ask, does it really matter? Id say pick any pool that calculates enough decimal places that your share doesnt get rounded out and becomes zero. Im only half joking.

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3-BTC to Euro bank account:
I've read about intersango, MTGox and AQOIN. Are they safe? Which one is better to Portuguese bank account?

Unless you intend to buy other hardware, you will need  Euro to BTC. Because it will take years before you mined enough coins to warrant a transaction.

pginvest
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November 11, 2011, 09:52:42 PM
 #3

Thanks P4Man.
My laptop and my friend's one are from work... we mine there... and at home as we can use them as personal also...

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P4man
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November 11, 2011, 09:58:22 PM
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Well even so, its an exercise in futility. Do your own math here:

http://www.alloscomp.com/bitcoin/calculator.php

If you mine 24/7, then per month you will net 0.02 bitcoin.  Transcaction cost for bitcoin is half that lol.
It will take 50 years for a single bitcoin, assuming difficulty stays like this, and that wont be the case.

I dont know, maybe some miners are faster for CPU's, but what difference does 10 or 20% make here?

Honestly, it makes no sense. You might as well calculate hashes with pen a paper and hope to solve a block that way.

P4man
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November 11, 2011, 10:00:18 PM
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Oh, I should have mentioned; try mining litecoins. They use a different algorithm that only works on CPU's right now.
You can trade litecoins for bitcoins and that might make you some bitcoins per month perhaps.

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November 11, 2011, 10:02:58 PM
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Exactly.  The parallel math engines of graphics cards have killed CPU mining.  If you really can't acquire even the cheapest AMD graphics card then honestly you are betting mining Litecoins and selling them for BTC.
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November 11, 2011, 11:08:16 PM
 #7

Mining Bitcoin with CPU is fail.

If you can mine only with a CPU then mine Litecoin and sell them for BTC, much much better.
pginvest
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November 11, 2011, 11:14:36 PM
 #8

is there any non-cmd  interface like GUIminer for litecoin? i couldn't set it up Sad

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P4man
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November 11, 2011, 11:25:27 PM
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Not that I know off. But its not hard. Here is what I use:

minerd-amdfam10-sse4a-64 --algo scrypt -s 60 --threads 4 --url  http://mine.pool-x.eu --userpass P4man.1:x

Just put it in a batch file. I you dont have the above exe, get it, its the fastest one by miles for litecoin. Grab it here:
http://www.wuala.com/jbw9/pub/Bitcoin/Tenebrix/miner/win/test/minerd-amdfam10-sse4a-64.exe?lang=en

Do read the sticky about about alt chains in this forum though:
https://bitcointalk.org/index.php?topic=42465.0

If the above exe contains a trojan and steals your car, I dont take responsibility. But you can grab the source and compile it yourself if you like.

pginvest
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November 11, 2011, 11:42:41 PM
 #10

P4man, i''ve installed the GUIminer from pool-x and i hope it will work.
Last question... where can i find a wallet for it? and how to trade for btc or euros?

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P4man
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November 11, 2011, 11:51:21 PM
 #11

P4man, i''ve installed the GUIminer from pool-x and i hope it will work.
Last question... where can i find a wallet for it? and how to trade for btc or euros?

You have to download the litecoin client. Or actually, you dont have to. You can simply sign up for an exchange. I use this one:
https://btc-e.com/

Let it generate a deposit address, and configure that address in your pool settings. Then you can sell litecoins on the exchange for bitcoins or USD and withdraw to your bitcoin wallet, or paypal or a lot of other payment processors. Plenty of choice.

Dont get your hopes up though. I think you might be overestimating how rich this is going to make you.

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