BITCOIN - mining 4 a year now

Jonny Quick said:

60 C + is HOT. Depending on the CPU, it could be outside the max. temperature specs. You could fry your CPU. It shouldn't be that hot, even with CPU maxed at 100%. Did you use a good thermal compound?

Check your CPU specs here:

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Its my GPU not cpu.

When I look up these video cards some of the are in the $800 dollar range. I know "you get what you pay for" but can someone recommend a less expensive one? Are there certain features I need to look for, i.e. 5760 versus 5770?

3Infidels said:

When I look up these video cards some of the are in the $800 dollar range. I know "you get what you pay for" but can someone recommend a less expensive one? Are there certain features I need to look for, i.e. 5760 versus 5770?

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Look at the Radeon HD 5830, it's normally around 180$ CAD, and sometimes you can get a deal at 100$ CAD

JB2003 said:

Someone needs to calculate the bitcoin break-even price in regards to electricity consumption.

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bitcoin break-even price in regards to electricity consumption.

I CAN NOT ADD IMAGES - someone please add the following image "electricity consumption"

i54.tinypic.com/2wmi989.png

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Bitcoin mining profitability calculator
bitcoinx.com/profit/


Bitcoin Block Explorer allows you to easily view information about the blocks, addresses, and transactions created by Bitcoin
blockexplorer.com/


compared to electricity consumption
i54.tinypic.com/2wmi989.png


TRADE - list of sites that currently accept Bitcoin
en.bitcoin.it/wiki/Trade

How To Get Started With Mining
forum.bitcoin.org/index.php?topic=9430.0


tHANKS


.

str8thustler said:

It seems as if in the last 48 hours, bitcoin currency or coins went from being worth $28 a coin down to $15, that is a huge drop in 48 hours. I dont see how this can hang on and who designates how much a coin is worth? How would you even know if the price is going to rebound and and up back at $28?

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That's called "speculation", and the answer is you don't. It's all about confidence. Some people think the price is going to fall and so they sell even when the price is $15.00, and others think it's going to go up and that is why they buy even when the price is $28.00.

http://en.wikipedia.org/wiki/Beanie_Baby

I knew someone that paid $2,000 for a Beanie Baby. She expected it would go up in value. When prices are "high", everyone always focuses on the selling price from the Seller's perspective, and never consider that the Buyer is making a bet that the price is going to go even higher. Who buys anything when it's price is high, expecting it's value to go down from that point. People make mistakes, but they aren't stupid. No one ever thinks about that, though.

So, rapid fluctuations in value is a GOOD THING for speculators. Buy low and sell high. If it frequently swings wildly from one way to the other, that just means there are more opportunities to either buy or sell. But it's like that game of "Musical Chairs". Don't be the one standing there with your life-savings in BitCoin when the music stops and the market collapses.

All it would take for me to get into this BitCoin thing is to find a place where I can convert BitCoin into reliable cash.

Jonny Quick said:

That's called "speculation", and the answer is you don't. It's all about confidence. Some people think the price is going to fall and so they sell even when the price is $15.00, and others think it's going to go up and that is why they buy even when the price is $28.00.

So, rapid fluctuations in value is a GOOD THING for speculators. Buy low and sell high. If it frequently swings wildly from one way to the other, that just means there are more opportunities to either buy or sell. But it's like that game of "Musical Chairs". Don't be the one standing there with your life-savings in BitCoin when the music stops and the market collapses.

All it would take for me to get into this BitCoin thing is to find a place where I can convert BitCoin into reliable cash.

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Thanks for your comments

is a GOOD THING for speculators

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TRADE - list of sites that currently accept Bitcoin
find a place where I can convert BitCoin into reliable cash
en.bitcoin.it/wiki/Trade
en.bitcoin.it/wiki/Selling_bitcoins
$$$ ---->>> BTC
or
BTC ---->>> $$$$

THANKS
.

GrizzlyAdams said:

Do you have any faith that the people who own a lot of the market aren't just going to eventually dump all their bitcoins once it gets to a high enough price?

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Rumours are afloat that the owners own 1.6 million bitcoins, and are sneakily selling them at a tidy income, I'm led to believe this will burst in a couple of years, sort of similar enough to the retro pyramid schemes, whereby the top level will mess over the lower levels and eventually, BOOM, the market ends. Don't get me wrong, in theory its an excellent idea, to be able to purchase weed with no worries online and to not have to worry about taxation (a BHW member's dreams) but, its all a pipedream, the company will eat up the money they make from it and then a new company will promise the same thing a couple of years later, governments are too powerful, and these coins will become too expensive and will create a wealth gulf in the virtual world of bitcoins and will create a miniature version of today's society. Capitalism doesn't work when poor people want to overthrow the rich people, especially when the rich people have more say than a virtual currency.

BugMehNot! said:

Fyi, using the flags -v -w 128 will get you 190 Mhash/s on a hd 6850.

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Ah, thanks, just figured out the purpose of "Extra flags". Now getting 195Mhash/s, nice increment. Thank you!

dwolla is slow as all hell. took 5 days to clear a bank transfer. and we all know how crazy the last 5 days were.

i totally would've bought when the price was around $10, but didn't get the chance to. :|

so if anyones thinking of buying bitcoins, get your assets into place first, so by the time you make a decision, you can actually act on it. =P

You do realize this happens with all currency? Just pointing that out in case you did not.
Also the poor can't over throw the rich? Who do you think wins wars? If your going to say who supplies the weapons for the wars, which most do, remember its your tax dollars....Have you ever heard of a poor person going to jail for tax fraud? lol

XieCudi said:

Rumours are afloat that the owners own 1.6 million bitcoins, and are sneakily selling them at a tidy income, I'm led to believe this will burst in a couple of years, sort of similar enough to the retro pyramid schemes, whereby the top level will mess over the lower levels and eventually, BOOM, the market ends. Don't get me wrong, in theory its an excellent idea, to be able to purchase weed with no worries online and to not have to worry about taxation (a BHW member's dreams) but, its all a pipedream, the company will eat up the money they make from it and then a new company will promise the same thing a couple of years later, governments are too powerful, and these coins will become too expensive and will create a wealth gulf in the virtual world of bitcoins and will create a miniature version of today's society. Capitalism doesn't work when poor people want to overthrow the rich people, especially when the rich people have more say than a virtual currency.

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nubbers said:

You do realize this happens with all currency? Just pointing that out in case you did not.

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Of course I know that, look at every currency, they've all become hyper inflated or redundant, from studying History I know quite a bit about German history and what happened after the first world war, and Zimbabwe is fresh enough in mind, all currencies fail, but this one I think may crash even quicker.

nubbers said:

Also the poor can't over throw the rich? Who do you think wins wars?

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Who dies in wars? Who doesn't die in wars?

nubbers said:

If your going to say who supplies the weapons for the wars, which most do, remember its your tax dollars....

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I wasn't but all in all, my point stands, in modern developed countries like the U.S and many of the Eastern European countries, the rich won't be getting poorer any time sooner, I'll use Ireland as a case study, the poorest people are getting taxed on minimum wage, people's dole's are being cut (something I agree with though) and public worker's wages are being cut, while the highest earners wages haven't been touched, when the rich can make the decisions, and they won't be thrown into much jeopardy at the prospect of making unfair decisions, nothing will change, although come the next budget, I don't know what will happen, I may have to eat my words.

nubbers said:

Have you ever heard of a poor person going to jail for tax fraud? lol

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Yes, in Ireland a lot of builders have been done due to cash in hand, it just takes one person to speak out about it and wham, they're in trouble.

can someone help me set this up?

i'm really clueless on how this works?

I already registered to deepbit.net.

Who dies in wars? Who doesn't die in wars?

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Everyone dies, but depending on the war the rich don't always benefit.

I wasn't but all in all, my point stands, in modern developed countries like the U.S and many of the Eastern European countries, the rich won't be getting poorer any time sooner, I'll use Ireland as a case study, the poorest people are getting taxed on minimum wage, people's dole's are being cut (something I agree with though) and public worker's wages are being cut, while the highest earners wages haven't been touched, when the rich can make the decisions, and they won't be thrown into much jeopardy at the prospect of making unfair decisions, nothing will change, although come the next budget, I don't know what will happen, I may have to eat my words.

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I think cutting the wages of the lower end is a joke when the higher ends only need to take an average of a 5% cut, compared with a 10% cut from a lot of workers. That is a whole other conversation though.
I do agree that when the rich make the rules the poor do suffer, but at the same time saying a group of poor people couldn't destroy a company by, lets say, just not showing up to work is kinda out there. I try to believe that the majority still have the power and the rich are definitely not the majority.

Yes, in Ireland a lot of builders have been done due to cash in hand, it just takes one person to speak out about it and wham, they're in trouble.

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They actually go to jail? or they have the option to pay the fee's and back taxes. I'm asking this because my brother is an accountant and I have never heard of someone making less than 45k a year going to jail unless the fraud was over a huge length of time.

nubbers said:

Everyone dies, but depending on the war the rich don't always benefit.

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I'd think living would generally be of more benefit to not.

nubbers said:

I do agree that when the rich make the rules the poor do suffer, but at the same time saying a group of poor people couldn't destroy a company by, lets say, just not showing up to work is kinda out there. I try to believe that the majority still have the power and the rich are definitely not the majority.

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It can potentially harm a company, but in current climates, (I work a job in a large MNC which is currently hiring another 32 employee's) the company which I work for has incredible demand for work, and could receive anywhere up to a couple of hundred applicants for some roles, people are easily replaced. In small companies with employee's with limited skills people are very easily trained and replaced, you're just a gear which helps the engine run, and to be honest, its a sociological problem rather than anything, think about times where everyone you knew was doing something and then only a small proportion would, people are fickle, people are stupid, and people are hard to lead, this is why the greatest leaders are always remembered, compare that to nowadays, how many of the leaders you see in front of you are great, Obama has lied and changed his stance numerous times, the EU has pretty much failed, and the Chinese bubble is set to burst due to ghost towns. With the enigmatic leaders we have nowadays its always easier to think of something in a hypothetical sense rather than a realistic sense, things could be done, but due to the system, without revolt nothing will be done quickly or correctly, it'll be postponed through numerous polls and stupid facades. To quote George Orwell "All animals are equal, but some animals are more equal than others."

nubbers said:

They actually go to jail? or they have the option to pay the fee's and back taxes. I'm asking this because my brother is an accountant and I have never heard of someone making less than 45k a year going to jail unless the fraud was over a huge length of time.

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This is only from my mam telling me due to her working in social services, but, quite a few have been when found to have been working while not paying taxes, and getting the dole money as well, for a couple of months, but nothing extravagant. Its more a rare case than anything, realistically it is only people who earn over a certain amount, but its not unheard of in certain circles, especially, when it comes to people on the dole who're working other jobs.

ProfitNow said:

can someone help me set this up?

i'm really clueless on how this works?

I already registered to deepbit.net.

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download the guiminer,install it. then select deepbit. enter your email you registered with,and your password for deepbit,then click start mining.

Considering I helped with this thread and opened it up. I find it funny as a "Newbies" I have received "4" thanks???? on a 122 post

I would say thats a bad conversion rate.


Thanks: 4
Thanked 5 Times in 4 Posts
Reputation: 13

XieCudi said:

Rumours are afloat that the owners own 1.6 million bitcoins, and are sneakily selling them at a tidy income, I'm led to believe this will burst in a couple of years, sort of similar enough to the retro pyramid schemes, whereby the top level will mess over the lower levels and eventually, BOOM, the market ends. Don't get me wrong, in theory its an excellent idea, to be able to purchase weed with no worries online and to not have to worry about taxation (a BHW member's dreams) but, its all a pipedream, the company will eat up the money they make from it and then a new company will promise the same thing a couple of years later, governments are too powerful, and these coins will become too expensive and will create a wealth gulf in the virtual world of bitcoins and will create a miniature version of today's society. Capitalism doesn't work when poor people want to overthrow the rich people, especially when the rich people have more say than a virtual currency.

Click to expand...

This lead back to my theory that the owners are making fat on this and whoever is trying to a bitcoin "trader" will get burnt and lose a ton of money.

Glad I'm not in this game...I wouldn't be able to sleep at night.

nappy-headed said:

Considering I helped with this thread and opened it up. I find it funny as a "Newbies" I have received "4" thanks???? on a 122 post

I would say thats a bad conversion rate.


Thanks: 4
Thanked 5 Times in 4 Posts
Reputation: 13

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Because you sound like a salesman, and people here will thank you if they find the information useful, not if you are trying to get donations from them...

Just saying.

EDIT:
When i first started using guiminer,I only got 148Mh/s a second,so then I overclocked it to max,but that only got me 168Mh/s a second. By using a flag,I now get 202Mh/s. My cpu only does 1Mh/s

For those with the HD 5770 and using guiminer, overclock it to max,set fan at 80%( it stays at around 68 degrees at 80%) then use the flag -v -w128