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Author Topic: Beginner's Guide  (Read 296173 times)
Meni Rosenfeld
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May 26, 2011, 04:16:09 AM
 #21

You need to cut down on links that are of no relevance to beginners, such as FPGA and GLBSE. Focus on the important stuff.

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SchizophrenicX
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May 26, 2011, 04:36:42 AM
 #22

You need to cut down on links that are of no relevance to beginners, such as FPGA and GLBSE. Focus on the important stuff.

Thanks for the recommendation. I added FPGA's link course I'd also like to promote more innovation in other fields and wouldn't want people to think that this is all about GPUs and such. As for GLBSE I myself hasn't really quite gotten to it but it's a stock exchange, other's might not have experience in Mining but may have in exchanges. I thought it was basic.

Anyway, I'd like to know what 'the important stuff' because I'm a newbie too as mentioned. I can't really focus on it if I don't really know what it is.

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May 26, 2011, 06:28:23 AM
 #23

Pool-hopping definitely does work, unless the pool uses an immune payout method (which most pools don't). I don't know if anyone implemented it yet.
By the way, you left out the one pool currently using a cheat-proof method, continuum pool.
eMansipater, where did you get the idea that it doesn't?
I guess I've not re-shopped pools since we hashed this out mathematically at the beginning of the year, so it's surprising to me that people would launch new pools that were vulnerable to this, and doubly surprising that such pools would gain in popularity.  Share-based systems like Slush's are a perfectly satisfactory solution to this, so why would people want to mine in a pool where some of their proceeds could be being lost to exploits?  It doesn't make mathematical sense.

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May 26, 2011, 06:34:35 AM
 #24

Pool-hopping definitely does work, unless the pool uses an immune payout method (which most pools don't). I don't know if anyone implemented it yet.
By the way, you left out the one pool currently using a cheat-proof method, continuum pool.
eMansipater, where did you get the idea that it doesn't?
I guess I've not re-shopped pools since we hashed this out mathematically at the beginning of the year, so it's surprising to me that people would launch new pools that were vulnerable to this, and doubly surprising that such pools would gain in popularity.  Share-based systems like Slush's are a perfectly satisfactory solution to this, so why would people want to mine in a pool where some of their proceeds could be being lost to exploits?  It doesn't make mathematical sense.
slush's system is somewhat resistant to pool-hopping, but it's not completely immune. The only hopping-proof system is the one I suggested and it is only used by Continuum pool.

I have no idea why people go for vulnerable pools either. It may be related to some myths floating around despite my efforts to inform.

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May 26, 2011, 06:41:30 AM
 #25

slush's system is somewhat resistant to pool-hopping, but it's not completely immune. The only hopping-proof system is the one I suggested and it is only used by Continuum pool.
Yes, you're right.  I was, however, satisfied that with the share-based system he uses someone would have to be moving around a lot of hashing power to benefit in any significant quantity, and that such behaviour would be quite noticeable on his logs.

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May 26, 2011, 07:18:05 AM
 #26

also GPU's power spec's could be handy.
ie EXACT power caps/needs from each rail.
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May 26, 2011, 03:44:17 PM
 #27

Pool-hopping definitely does work, unless the pool uses an immune payout method (which most pools don't). I don't know if anyone implemented it yet.
By the way, you left out the one pool currently using a cheat-proof method, continuum pool.
eMansipater, where did you get the idea that it doesn't?
I guess I've not re-shopped pools since we hashed this out mathematically at the beginning of the year, so it's surprising to me that people would launch new pools that were vulnerable to this, and doubly surprising that such pools would gain in popularity.  Share-based systems like Slush's are a perfectly satisfactory solution to this, so why would people want to mine in a pool where some of their proceeds could be being lost to exploits?  It doesn't make mathematical sense.

If that's really surprising, you aren't very attentive.

If a majority of the population trusted, much less actually understood math the world would be a very different place.
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May 27, 2011, 03:07:26 AM
 #28

Guys is it possible to get sdk 2.1 working on win 7 64bits? I tried several times, but I can't get them to work.
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May 27, 2011, 05:18:52 AM
 #29

also GPU's power spec's could be handy.
ie EXACT power caps/needs from each rail.


Thanks Basiley, this would've been a great addition to the wiki or in my rig building thread. Smiley I'll consider putting this up into the guide. I'm having problems with installing my LiveUSB linux and running my 5970 on them. I'll be checking back every few hours or so.


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May 28, 2011, 05:56:45 AM
 #30

Thanks, everyone, for all of your work in sharing and compiling this information.  I am very new to the community and would like to get into mining.  I'm thinking about building a system similar to this one:  https://en.bitcoin.it/wiki/Mining_rig#Three_ATI_6990s,_Approximately_2.1_Ghash/s
except using only two 6950's.  They're less than $250 a piece and should get ~400Mhash/s each, so I think I'll get good bang for my buck and be able to build a rig that will pay itself off fairly quickly.  Then I can always add a third 6950 and/or swap some for 6990's if things are still looking good with the Bitcoin economy.

I would really appreciate any feedback you experienced miners could provide.  Thanks in advance.  I look forward to joining the pool party with you soon.  Wink
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May 28, 2011, 08:23:50 AM
 #31

Hi Zombiedeity, I've also got some sort of a mining rig discussion although no one really goes there anymore. But it has a number of other thread links to building a rig. Also, due to recent difficulty increase, maybe you'd like to take a second look into investing into hardware before you go ahead on that. Smiley

However, I can tell you that if you're just investing into the graphics card and upgrading your computer. You'd almost always profit from that as the hardware investment is not just solely into Mining but double as a hardware upgrade for yourself. Even if the cards doesn't pay itself off like some speculations I see, you'll see it as upgrading your hardwares for a discounted price after cashing out the BTC you've generated.

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May 28, 2011, 09:32:10 PM
 #32

Excellent guide Cheesy

If you could add BitClockers.com to the pool list that would be spectacular Cheesy


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May 29, 2011, 12:37:58 AM
 #33

Hi Zombiedeity, I've also got some sort of a mining rig discussion although no one really goes there anymore. But it has a number of other thread links to building a rig. Also, due to recent difficulty increase, maybe you'd like to take a second look into investing into hardware before you go ahead on that. Smiley

However, I can tell you that if you're just investing into the graphics card and upgrading your computer. You'd almost always profit from that as the hardware investment is not just solely into Mining but double as a hardware upgrade for yourself. Even if the cards doesn't pay itself off like some speculations I see, you'll see it as upgrading your hardwares for a discounted price after cashing out the BTC you've generated.

I have read several posts advising against buying a mining rig as an investment.  However, using the Bitcoin Mining Profitability Calculator, http://bitcoinx.com/profit/index.php which takes into account the current difficulty level, it's looking like I could pay off even a $3000 3x6990 rig in 3 months and make over just under a grand in profit every month thereafter.  That's not even accounting for the fact that Bitcoins are likely to continue rising in value over the course of those months.  I just don't see how it's a bad investment.  And even if BTC tanks as a currency, the hardware I buy will still be worth a good bit for personal use or resale.

Thanks for your input!
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May 29, 2011, 10:16:29 AM
 #34

Hi Zombiedeity, I've also got some sort of a mining rig discussion although no one really goes there anymore. But it has a number of other thread links to building a rig. Also, due to recent difficulty increase, maybe you'd like to take a second look into investing into hardware before you go ahead on that. Smiley

However, I can tell you that if you're just investing into the graphics card and upgrading your computer. You'd almost always profit from that as the hardware investment is not just solely into Mining but double as a hardware upgrade for yourself. Even if the cards doesn't pay itself off like some speculations I see, you'll see it as upgrading your hardwares for a discounted price after cashing out the BTC you've generated.

I have read several posts advising against buying a mining rig as an investment.  However, using the Bitcoin Mining Profitability Calculator, http://bitcoinx.com/profit/index.php which takes into account the current difficulty level, it's looking like I could pay off even a $3000 3x6990 rig in 3 months and make over just under a grand in profit every month thereafter.  That's not even accounting for the fact that Bitcoins are likely to continue rising in value over the course of those months.  I just don't see how it's a bad investment.  And even if BTC tanks as a currency, the hardware I buy will still be worth a good bit for personal use or resale.

Thanks for your input!

That tool is for a constant difficulty, so of no value at all as the difficulty has been rising exponentially. You won't make enough to pay off your $3,000 unless the value of BTC rises and, if it does rise, you're better off buying $3,000 of BTC instead and making money from the rise.

To put this in cointext, 3 weeks ago I was getting 12 BTC a day, now I'm getting 3. In 3 more weeks I'll probably be getting 1 BTC a day.
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May 30, 2011, 02:38:37 AM
 #35

Hi everyone, I finally got Ubuntu to run. Can someone be kind enough to update me which miner to use best in Ubuntu? I'm currently following the Natty guide and using poclbm. (Never used Pheonix before)

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May 30, 2011, 07:26:21 PM
 #36

Estimated Time Until Earning a Bitcoin: http://forum.bitcoin.org/index.php?topic=10517.0
Bitcoins.lc - Finally a usuable Bitcoin Pool! (IPv6, 0% fee, Long polling, JSON): http://forum.bitcoin.org/index.php?topic=10121.0

I could be killing, I could be stealing. But I'm begging here:
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May 30, 2011, 08:57:39 PM
 #37

Under security or mining setup could you please explain that you need a strong password for your login account at a pooled mining web cite and a different unique password for each miner.  I repeat, do not use the same password for mining website login as you do in any of your miners.  Weak passwords or using the same password for your miner and your mining website password leaves you vulnerable to attack (aka steal your bitcoins).  (Attacks include Brute Force, Dictionary, Ranbowtable, and possibly in combination with man in the middle attack strategies.) To remember these long complicated passwords please use password managing programs like keepass to help you generate and remember long passwords.  Watch Hak5 for further easy to understand security info.

http://keepass.info/
https://lastpass.com/
http://hak5.org/episodes/episode-423
http://www.youtube.com/watch?v=PmwlkyTomVs
http://www.youtube.com/watch?v=PmtkJKHFX5Q at 7:50
http://www.youtube.com/watch?v=N86xJpna9Js
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May 30, 2011, 09:20:46 PM
 #38

Thanks for the contribution guys. I'll add them up right now. As for attach, I don't really know what it is... Could you explain it simply so I can add it in. As it is right now I'm not sure how I'd put it.

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May 30, 2011, 10:42:31 PM
 #39

Thanks for the contribution guys. I'll add them up right now. As for attach, I don't really know what it is... Could you explain it simply so I can add it in. As it is right now I'm not sure how I'd put it.

Sorry it should be attack as in cyber attack/theft.  I'm not quite sure how to word this for the average Joe.  Any of you sysadmins have any advice on how to explain or write this up?  Anyway I recoment watching Hak5 for security explanations.  Security now is good although it is dryer and takes more time to sift through.

http://hak5.org/
http://twit.tv/sn

q(7/6C[$&Z/>j$/)@X6jF9}cVWLg$,?Z1/b) = Good password

Ith1nkMyP@swordR0cks0924186 = Vulnerable to dictionary attack

hitmeagain97 = please take over my account steal my identity and take all my money
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May 31, 2011, 12:19:38 AM
 #40


q(7/6C[$&Z/>j$/)@X6jF9}cVWLg$,?Z1/b) = Good password

Ith1nkMyP@swordR0cks0924186 = Vulnerable to dictionary attack

hitmeagain97 = please take over my account steal my identity and take all my money

That second password would be fine (assuming you hadn't posted it in a forum).  It has a length that is could not be brute forced, and the number of digits tacked on the end prevents a dictionary attack, as does the number of words strung together.  Even the last password is not terribly bad for resistance against a casual attacker.  I'd recommend a few more characters to stop a powerful brute-forcer, but it is complex enough to not be dictionary-attacked.

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