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Author Topic: I'm new to bitcoins, and have a question about mining?  (Read 1774 times)
Bluefalcon
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April 17, 2011, 10:25:53 PM
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Do you have to have an initial amount of Bitcoins to collect from the fruits of your mining labor?

I can't find a good definitive answer anywhere in the wiki or am just reading over it. Any info would be appreciated :-).
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BitLex
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April 17, 2011, 10:34:49 PM
 #2

no, you only need mining-software and computing-ressources to use that software.
you only need initial bitcoins, if you want to buy or rent those computing-ressources with bitcoins.

Bluefalcon
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April 17, 2011, 10:42:37 PM
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Awesome, thanks for the answer. I'll let poclbm keep chipping away then.
Zerbie
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April 18, 2011, 03:49:36 AM
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If you have a newer ATI card, (5xxx or 6xxx) the easiest way to get started is to use the GUI mining program and a pooled mining operation like deepbit.net (my favorite).

GUI mining app can be found here... http://bitcointalk.org/index.php?topic=3878.msg55160;topicseen#msg55160
Deepbit.net can be found here... http://deepbit.net/ 

Note deepbit.net takes a 3% fee.  Make sure you set up your BitCoin wallet so you can specify your receiving BTC address.
Randall Flagg
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April 18, 2011, 09:02:11 AM
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If you have a newer ATI card, (5xxx or 6xxx) the easiest way to get started is to use the GUI mining program and a pooled mining operation like deepbit.net (my favorite).

GUI mining app can be found here... http://bitcointalk.org/index.php?topic=3878.msg55160;topicseen#msg55160
Deepbit.net can be found here... http://deepbit.net/ 

Note deepbit.net takes a 3% fee.  Make sure you set up your BitCoin wallet so you can specify your receiving BTC address.

Yes deepbit.net seem fair...

I am a beginner too, i was wondering something.... if for the first block, i use the GPU on my machine only, so i get the first 50 BTC, then, after that, join a pool ?  is that good idea ?  I have a 5770, so the hash rate is pretty high right now... about 70 000
[Tycho]
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April 18, 2011, 09:05:43 AM
 #6

I am a beginner too, i was wondering something.... if for the first block, i use the GPU on my machine only, so i get the first 50 BTC, then, after that, join a pool ?  is that good idea ?  I have a 5770, so the hash rate is pretty high right now... about 70 000
70 MH/s is nice, but i would recommend solo mining with at least 1-2 GH/s.
It's just my opinion.

Welcome to my bitcoin mining pool: https://deepbit.net - Both payment schemes (including PPS), instant payout, no invalid blocks !
ICBIT Trading platform : USD/BTC futures trading, Bitcoin difficulty futures (NEW!). Third year in bitcoin business.
Randall Flagg
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April 19, 2011, 12:45:18 AM
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I am a beginner too, i was wondering something.... if for the first block, i use the GPU on my machine only, so i get the first 50 BTC, then, after that, join a pool ?  is that good idea ?  I have a 5770, so the hash rate is pretty high right now... about 70 000
70 MH/s is nice, but i would recommend solo mining with at least 1-2 GH/s.
It's just my opinion.
Ahaha Tycho...

Okay! okay, i just joined your pool Smiley

i won't get my 50 BTC but i least i'll have some to play with it Smiley
teknohog
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April 19, 2011, 04:08:42 PM
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I have a 5770, so the hash rate is pretty high right now... about 70 000

Seems awfully low, do you mean a 5570? My 5570 (at 800 MHz) gets about 73 Mhash/s, whereas my 5770 (at 900 MHz) gets 180 Mhash/s.

At the current difficulty, this 5570 takes an average of 63 days between finding blocks. So for your own mental health, it is probably better to join a pool and get a steady trickle of coins.

proudhon
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April 19, 2011, 05:28:39 PM
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I'm going to post my newb questions in here too.  What do I need to do to set up an EWallet?  Apparently I need to do that before I join a pool and start mining.  I happen to have a single 6990, and from what I can gather, joining a pool will be the best way for me to go.  I'll earn, what, 50BTC a month that way?... Undecided
Randall Flagg
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April 19, 2011, 05:31:55 PM
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I have a 5770, so the hash rate is pretty high right now... about 70 000

Seems awfully low, do you mean a 5570? My 5570 (at 800 MHz) gets about 73 Mhash/s, whereas my 5770 (at 900 MHz) gets 180 Mhash/s.

At the current difficulty, this 5570 takes an average of 63 days between finding blocks. So for your own mental health, it is probably better to join a pool and get a steady trickle of coins.

Well, i am on a mac, using Diablo, and i really have a 5770.  I didn't test the others client if there are better one like this on a mac?  But you make sense, i saw the comparaison chart, and i am below the usual (https://en.bitcoin.it/wiki/Mining_Hardware_Comparison)...  I think i'll have to check the other client instead of using Diablo, thanks for pointing that out !   But using a pool like deepbit is now a must (even for my 5770 card) Smiley

On my console i can see some repetitive error message like "ERROR: Invalid block found on ATI Radeon HD 5770 (#1) possible driver or hardware issue)", weird?

So i have now have to check what is the root cause of this...

EDIT: by default it run at 64, i try to add -w 128, and instead of 70 Mhash/s.i have 99 Mhash/s, but still lower.  -w 192 or -w 256 throw an exeption error...
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