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Author Topic: I've mined for 24 hours. How many alpaca socks can I buy?  (Read 2525 times)
niels
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April 28, 2011, 06:04:42 AM
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it's 28 April 2011, mtgox is trading at ~1.75 usd/btc. I've been mining with a 3 GHz CPU for ~24 hours now. My client says it has 8 connections, 120606 blocks, and 1 transaction (my 0.05 from the faucet). How many alpaca socks can I buy?
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[Tycho]
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April 28, 2011, 06:13:05 AM
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it's 28 April 2011, mtgox is trading at ~1.75 usd/btc. I've been mining with a 3 GHz CPU for ~24 hours now. My client says it has 8 connections, 120606 blocks, and 1 transaction (my 0.05 from the faucet). How many alpaca socks can I buy?
CPU mining is worthless at this moment, you'll have to mine for some decades to generate a block.

Most miners use powerful GPUs for this, that's many times faster.
ATI 5970 does more than a 6 BTC per day at current difficulty level (in a pool).

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.
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April 28, 2011, 06:13:18 AM
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it's 28 April 2011, mtgox is trading at ~1.75 usd/btc. I've been mining with a 3 GHz CPU for ~24 hours now. My client says it has 8 connections, 120606 blocks, and 1 transaction (my 0.05 from the faucet). How many alpaca socks can I buy?

If you're using your CPU to mint bitcoins, you're unlikely to get any bitcoins at all unless you join a mining pool.  I have a CPU miner running on a machine that is otherwise mostly idle, and it's running at a slow 1 khash/sec 1 Mhash/sec.  This miner currently rakes in less than 2 bitcents per day.

The picture is different is you can use the GPU, but I guess someone else can tell you about it.

Cheers,

Klaus Alexander Seistrup
http://about.me/kseistrup
grndzero
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April 28, 2011, 06:14:02 AM
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You can buy 1/360th of Alpaca Socks.

Using your CPU to mine isn't going to get you very far. You really need to have a compatible video card from this list and probably join a pool.

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

Ubuntu Desktop x64 -  HD5850 Reference - 400Mh/s w/ cgminer  @ 975C/325M/1.175V - 11.6/2.1 SDK
Donate if you find this helpful: 1NimouHg2acbXNfMt5waJ7ohKs2TtYHePy
mjsbuddha
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April 28, 2011, 06:17:40 AM
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obvious troll is obvious
Jaime Frontero
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April 28, 2011, 06:52:19 AM
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it's 28 April 2011, mtgox is trading at ~1.75 usd/btc. I've been mining with a 3 GHz CPU for ~24 hours now. My client says it has 8 connections, 120606 blocks, and 1 transaction (my 0.05 from the faucet). How many alpaca socks can I buy?

save your 0.05BTC for twenty years and you'll be able to buy a small alpaca factory.  with several guys named Al, to do your packing...
niels
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April 28, 2011, 07:18:23 AM
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Ok, thanks. Those are really helpful answers for a noob.

So, neglecting the cost of hardware, what is the current cost, in joules, of digging a coin out of the cryptographic ground? I assume the answer will be a range of values; I'm interested in the variables.

Also, how do you guys measure your energy consumption?
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April 28, 2011, 08:00:22 AM
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So, neglecting the cost of hardware, what is the current cost, in joules, of digging a coin out of the cryptographic ground? I assume the answer will be a range of values; I'm interested in the variables.

Also, how do you guys measure your energy consumption?
Check out the following chart. Most people use watts as it's normally kW/Hrs that utilities charge in. I use a 5970 which is listed as about 300W and earns me about 6 BTC per day at the current difficulty, I could probably get say 7-8 if it was dedicated because I use it for other stuff as well. So I'd be using about 7.2kW/Hrs a day at .15 so a bit over a dollar a day. There are many variables, but if you have a decent ATI card it's generally currently profitable at the moment versus the power consumed. In my case I have the PC running all the time for other reasons anyway, so my "added" cost is a little lower versus a dedicated rig not doing anything else.

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

The same questions have been asked and answered quite a few times before, the following thread includes a calculator and comments on the subject:

http://bitcointalk.org/index.php?topic=5826.0

shackleford
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April 28, 2011, 08:10:00 AM
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it's 28 April 2011, mtgox is trading at ~1.75 usd/btc. I've been mining with a 3 GHz CPU for ~24 hours now. My client says it has 8 connections, 120606 blocks, and 1 transaction (my 0.05 from the faucet). How many alpaca socks can I buy?

Do you have anything of value (including labor) that you can offer in exchange for the Bitcoins to buy the socks?
allinvain
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April 28, 2011, 02:21:01 PM
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Have you considered selling your soul to the bitcoin gods? I hear they're very generous this time of the year......

But umm I think the best solution for you is to get the most powerful but CHEAPEST ATI Radeon card you can find. Scour the local classifieds sites or ebay.

rezin777
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April 28, 2011, 02:35:25 PM
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Also, how do you guys measure your energy consumption?

http://www.newegg.com/Product/Product.aspx?Item=N82E16882715001
allinvain
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April 28, 2011, 02:39:38 PM
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Using that or a similar device. I got mine from Canadian Tire. It's not a kill-a-watt-with-extreme-prejudice but it does the same thing.

drgr33n
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April 28, 2011, 02:44:21 PM
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I'm using 5830's they are only £73 and still pump just under 270MH/s Probably work out about the same money to grab a 5970 of ebay for around £300 but for me I don't have £300 I can just go out and spend on a gc Cheesy even though I'm getting money back I am poor as you like hahah.

Sapphire 5830
http://www.ebuyer.com/product/265356

xfx HD5830 xxx edition.
http://www.ebuyer.com/product/263858

Sapphire 5850
http://www.ebuyer.com/product/265355

xfx 5870
http://www.ebuyer.com/product/248887

The cheapest new 5970 I could find is selling for £490 lol !! total rip off and forget ebay ATM I'm telling you most people on there take the pi^& nowa day trying to charge more than the retail prices and anything that does go on there just gets snapped up. Probably due to all the bitcoin attention Cheesy

So if you are one of those skiddies that keep outbidding me PPPPLLLEEEEAAASSSEEEE let me have just one Cheesy

PS: if you live in the UK you can get one of those watt meters for free by asking your electric supplier real nicely Cheesy. They are a real nice bit of kit too its pre set to your tarrif so you know exactly how much electric your using Cheesy !!
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