# Bitcoin discussion



## SgtHop

I'm happy to see this show up on here too. Been needed for a long time. There aren't too many guides out there that I've seen, I pretty much had to figure it out as I went. It's not too difficult, and liberal use of the client guides that are usually on the download pages for them is advised.


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## Jester435

discussing bitcoin mining is against the rules of OCN. atleast that is what I have heard from others.


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## alcal

I've been mining for about 3 weeks now and was hoping this would eventually come to OCN. Thanks Enterprise!


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## SgtHop

Quote:


> Originally Posted by *Jester435*
> 
> discussing bitcoin mining is against the rules of OCN. atleast that is what I have heard from others.


Might want to check the other thread in this forum.


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## Hokies83

Any information you need to get started mining please feel free to ask me.

We have had a secret club " via Mass pm " for months now.

And our members will be more then happy to help in any way.


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## static2009

It just seems like BitCoin is a form of stock. I mean, I could purchase, sell, and use stock in much the same way that I could purchase, sell, or use BitCoin. Honestly, I'm not a fan of it because the value of the coin just depends on the person selling that coin. I can't sell one USD for five, nor would it be worth selling it for less than its value.

I could have the whole concept all wrong, but from what I've read, this is my opinion.


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## Hokies83

The thing with Bit Coins is you can use your Amd Gpus to make them...

Then sell them or buy things with them.


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## SgtHop

Quote:


> Originally Posted by *static2009*
> 
> It just seems like BitCoin is a form of stock. I mean, I could purchase, sell, and use stock in much the same way that I could purchase, sell, or use BitCoin. Honestly, I'm not a fan of it because the value of the coin just depends on the person selling that coin. I can't sell one USD for five, nor would it be worth selling it for less than its value.
> 
> I could have the whole concept all wrong, but from what I've read, this is my opinion.


Well, the buying and selling is important, and it is an investment. The key difference between the two though, is the fact that you cannot create stock, unlike bitcoins which you can create. That's why it's a bit of a big deal.


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## Speedster159

The hell is bit coin? o.0 Need to do some research now..


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## Hokies83

Quote:


> Originally Posted by *Speedster159*
> 
> The hell is bit coin? o.0 Need to do some research now..


Everything you need to know about Bit Coin or BTC for short is right here.

http://www.overclock.net/t/1398219/amd-gpu-bitcoin-mining-club/0_20

@ Staff Are we only Permitted to Discuss Bit Coin at this time?

Or can we also talk about Alt coins?


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## PR-Imagery

Quote:


> Originally Posted by *Speedster159*
> 
> The hell is bit coin? o.0 Need to do some research now..


Unless you already have the fastest hardware and cheap electricity its really not worth it -- you'd spend more powering the rigs then you make off the mining.

Tho if you can get you hands on one of those dedicated asic units (one of these for instance), it can be quite lucrative assuming no-one hacks you...


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## Hokies83

Quote:


> Originally Posted by *PR-Imagery*
> 
> Unless you already have the fastest hardware and cheap electricity its really not worth it -- you'd spend more powering the rigs then you make off the mining.
> Tho if you can get you hands on one of those dedicated asic units (one of these for instance), it can be quite lucrative assuming no-one hacks you...


Hmm ive became quite well off from mining...

It has bought me 9 Hd 7000 Gpus and 3 full Intel based Systems...

+ full water loops and tons of other items.


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## Speedster159

This looks very... addicting? Is it limited to just GPU's? Why would AMD be better than Nvidia GPU's?


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## Hokies83

Quote:


> Originally Posted by *Speedster159*
> 
> This looks very... addicting? Is it limited to just GPU's? Why would AMD be better than Nvidia GPU's?


Check my thread all the info is there about why Amd is better etc.


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## Speedster159

Quote:


> Originally Posted by *PR-Imagery*
> 
> Quote:
> 
> 
> 
> Originally Posted by *Speedster159*
> 
> The hell is bit coin? o.0 Need to do some research now..
> 
> 
> 
> Unless you already have the fastest hardware and cheap electricity its really not worth it -- you'd spend more powering the rigs then you make off the mining.
> Tho if you can get you hands on one of those dedicated asic units (one of these for instance), it can be quite lucrative assuming no-one hacks you...
Click to expand...

How much Mhash/s does this make?


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## SgtHop

Quote:


> Originally Posted by *Speedster159*
> 
> This looks very... addicting? Is it limited to just GPU's? Why would AMD be better than Nvidia GPU's?


It basically comes down to architectural difference between AMD and Nvidia. In addition to that, CPUs are actually pretty limited when it comes to compute power, hence why they're not particularly good at mining.


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## Hokies83

Quote:


> Originally Posted by *Speedster159*
> 
> How much Mhash/s does this make?


5.000 MH/S

But the waiting list is Huge... Your looking 3 - 6 months waiting to get it.


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## lacrossewacker

Quote:


> Originally Posted by *SgtHop*
> 
> Well, the buying and selling is important, and it is an investment. The key difference between the two though, is the fact that you cannot create stock, unlike bitcoins which you can create. That's why it's a bit of a big deal.


immune to inflation? Who's to stop a company donating 24 hours of their server load to bitcoin "mining" and just loading up on some crazy amounts of _curreny_


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## SgtHop

Quote:


> Originally Posted by *Hokies83*
> 
> 5.000 MH/S
> 
> But the waiting list is Huge... Your looking 3 - 6 months waiting to get it.


One of the questions I was going to ask on this forum now that it exists, is...has anyone ever seen one of these? Are they shipping now, and have people been getting them?


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## Speedster159

Quote:


> Originally Posted by *Hokies83*
> 
> Quote:
> 
> 
> 
> Originally Posted by *Speedster159*
> 
> How much Mhash/s does this make?
> 
> 
> 
> 5.000 MH/S
> 
> But the waiting list is Huge... Your looking 3 - 6 months waiting to get it.
Click to expand...

So why does it cost more than a GTS450? Which (where i saw it) was listed at 45 MH/s?


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## SgtHop

Quote:


> Originally Posted by *Speedster159*
> 
> So why does it cost more than a GTS450? Which (where i saw it) was listed at 45 MH/s?


Not 5MH/s, 5,000MH/s, alternatively 5GH/s. Biiig difference.


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## Hokies83

Quote:


> Originally Posted by *SgtHop*
> 
> One of the questions I was going to ask on this forum now that it exists, is...has anyone ever seen one of these? Are they shipping now, and have people been getting them?


Yes they have been shipping since Late April People are getting them but it is slow go.

I ordered mine in Feb and do not have it.


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## XiCynx

Quote:


> Originally Posted by *nicedart*
> 
> I have been reading a little about this new currency. I was hoping to gather more information from some reputable sources. It's great to know that I will be able to use OCN for this as well.
> 
> If any one has any good reads or basic info for beginners I would love to have it.


I have also heard a lot about this, but have always been told that it is too much of a hassle to deal with. This could just be due to the lack of knowledge and information provided is not clear enough for new users to get started. I myself would LOVE to see a nice guide wrote up about the Pro's and Con's of BitCoin Mining as well as how to get started and the steps needed to get there. Whoever can create the most elaborate and understandable guide to help get this off the ground, could become quite big and can get the post stickied.







I would submit the guides to a specific Moderator though(possibly enterprise?) for thorough checking before they are posted up. Helps keep things nice and tidy.


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## lacrossewacker

Quote:


> Originally Posted by *Hokies83*
> 
> 5.000 MH/S
> 
> But the waiting list is Huge... Your looking 3 - 6 months waiting to get it.


what are those things comprised of? Just off the shelf CPU/GPU?


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## Hokies83

Quote:


> Originally Posted by *Speedster159*
> 
> So why does it cost more than a GTS450? Which (where i saw it) was listed at 45 MH/s?


'

1 Giga Hash is 1000 Mega hash.
Quote:


> Originally Posted by *lacrossewacker*
> 
> what are those things comprised of? Just off the shelf CPU/GPU?


A Asic Is a Gpu.

It has one goal in life and will only do one thing.

Mine Bit Coins.

I have all Information needed to get started in My thread.


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## SgtHop

It's not at all a hassle. Some pools you can mine for will pay directly to Dwolla, which in turn sends directly to your bank account. I think there's a small service fee for it, but it's pretty much all automated. Even setting up the client is pretty straight forward.


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## Kaiin2014

Quote:


> Originally Posted by *SgtHop*
> 
> One of the questions I was going to ask on this forum now that it exists, is...has anyone ever seen one of these? Are they shipping now, and have people been getting them?


supposedly they are now shipping, Albeit in small quantities. I do think it is beginning to show in the overall network hashrate though the amount of hashes has tripled in the last 3 months.


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## Speedster159

I used this... https://en.bitcoin.it/wiki/Mining_hardware_comparison

So this https://products.butterflylabs.com/homepage/5-gh-s-bitcoin-miner.html is Mhash/s 5,000.00?


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## lacrossewacker

has anybody here actually received lucrative assets from this? Money? Purchased items?


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## SgtHop

Quote:


> Originally Posted by *lacrossewacker*
> 
> has anybody here actually received lucrative assets from this? Money? Purchased items?


When I had my whole farm running, right around 5GH/s, I was making near to $800 a month, minus about $250 for power. I'd say it was worth it. Now, I just have my sig rig running it, gets me a solid 1GH, and rolls in around $150 a month, which is more than enough to pay my entire house's power bill.
Quote:


> Originally Posted by *Kaiin2014*
> 
> supposedly they are now shipping, Albeit in small quantities. I do think it is beginning to show in the overall network hashrate though the amount of hashes has tripled in the last 3 months.


Yes, but are there any reports of anyone actually getting one, aside from reviewers? The president of BFL is a convicted felon, so one could say I'm a bit weary to be buying anything from them.


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## WR6133

It's a shaky, shady way to make money. You just have to look at the rise and crash already earlier this year to see it's not a sensible investment. As for all you guys with AMD GPU's yeah you can have a go but you will need to join a pool as alone you will make precisely NOTHING, as part of a pool your 1 or 2 GPU's may make you 50% less than the electricity to run them at 100% 24/7 cost you to begin with.

Anyone says they are making money still GPU mining is

a - Liar

b - Steals electricity or has somebody else pay the bill and have 20+ GPU's running

You are better off investing in real stock, hell without an ASIC miner you are better off taking the money saved on electric and putting it all on red. Also those expensive ASIC miners will simply serve to drive up the difficulty of the currency so in turn they will become less useful meaning you need more and more of them, that's how it works in the start the difficulty was low enough you could mine on low end CPU's.


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## lacrossewacker

Quote:


> Originally Posted by *SgtHop*
> 
> When I had my whole farm running, right around 5GH/s, I was making near to $800 a month, minus about $250 for power. I'd say it was worth it. Now, I just have my sig rig running it, gets me a solid 1GH, and rolls in around $150 a month, which is more than enough to pay my entire house's power bill.


wow! but who cuts you the check?


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## Hokies83

Quote:


> Originally Posted by *lacrossewacker*
> 
> has anybody here actually received lucrative assets from this? Money? Purchased items?


Ive made thousands


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## SgtHop

Quote:


> Originally Posted by *lacrossewacker*
> 
> wow! but who cuts you the check?


There are a few ways of going about it. One is to use an exchange, which will sell your bitcoins for real money, and then transfer it to Dwolla, who in turn sends it to your bank account via direct deposit. The second is by using a pool that pays directly to Dwolla, such as Eclipse MC, whom I use, and from that it's pretty much the same. I used to have a separate bank account for the Dwolla action so there was no access to my actual money, but have since stopped that as there has been no issue with them.


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## Krusher33

Quote:


> Originally Posted by *WR6133*
> 
> It's a shaky, shady way to make money. You just have to look at the rise and crash already earlier this year to see it's not a sensible investment. As for all you guys with AMD GPU's yeah you can have a go but you will need to join a pool as alone you will make precisely NOTHING, as part of a pool your 1 or 2 GPU's may make you 50% less than the electricity to run them at 100% 24/7 cost you to begin with.
> 
> Anyone says they are making money still GPU mining is
> 
> a - Liar
> 
> b - Steals electricity or has somebody else pay the bill and have 20+ GPU's running
> 
> You are better off investing in real stock, hell without an ASIC miner you are better off taking the money saved on electric and putting it all on red. Also those expensive ASIC miners will simply serve to drive up the difficulty of the currency so in turn they will become less useful meaning you need more and more of them, that's how it works in the start the difficulty was low enough you could mine on low end CPU's.


I've already calculated that I make profits with a single 7970. My electric rate is low is why.

Plus not everyone pays for their electricity. There are several people living in dorms or apartment buildings where electric is part of your rent.

At the beginning of the year there were some craziness. But lately the rate of BTC is quite stable.


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## Speedster159

How risky is this? Say you buy one of those 5GH things, how long would you reckon it would pay itself off? And you start making profit?


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## Kaiin2014

Quote:


> Originally Posted by *SgtHop*
> 
> When I had my whole farm running, right around 5GH/s, I was making near to $800 a month, minus about $250 for power. I'd say it was worth it. Now, I just have my sig rig running it, gets me a solid 1GH, and rolls in around $150 a month, which is more than enough to pay my entire house's power bill.
> Yes, but are there any reports of anyone actually getting one, aside from reviewers? The president of BFL is a convicted felon, so one could say I'm a bit weary to be buying anything from them.


OH definitely, thats why i said "supposedly" i think they are a complete scam. i do know that they have sent some out to be reviewed http://arstechnica.com/gadgets/2013/05/weve-got-a-butterfly-labs-bitcoin-miner-and-its-pretty-darn-fast/ an i believe the reviewer, that does not mean that I think everybody who bought one is not getting swindled. as far as i'm concerned, this tactic is just another way to keep people ordering them.


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## SgtHop

Quote:


> Originally Posted by *WR6133*
> 
> It's a shaky, shady way to make money. You just have to look at the rise and crash already earlier this year to see it's not a sensible investment. As for all you guys with AMD GPU's yeah you can have a go but you will need to join a pool as alone you will make precisely NOTHING, as part of a pool your 1 or 2 GPU's may make you 50% less than the electricity to run them at 100% 24/7 cost you to begin with.
> 
> Anyone says they are making money still GPU mining is
> 
> a - Liar
> 
> b - Steals electricity or has somebody else pay the bill and have 20+ GPU's running
> 
> You are better off investing in real stock, hell without an ASIC miner you are better off taking the money saved on electric and putting it all on red. Also those expensive ASIC miners will simply serve to drive up the difficulty of the currency so in turn they will become less useful meaning you need more and more of them, that's how it works in the start the difficulty was low enough you could mine on low end CPU's.


Yeah, except not really. I don't consider 11 cents per kW/h cheap, but I still make more than enough off my two 7950s to pay my power bill twice. And that's not just in servicing that computer, that's my entire house's power bill.


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## XiCynx

Quote:


> Originally Posted by *Speedster159*
> 
> How risky is this? Say you buy one of those 5GH things, how long would you reckon it would pay itself off? And you start making profit?


This is exactly what I was wondering myself!


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## SgtHop

Quote:


> Originally Posted by *XiCynx*
> 
> This is exactly what I was wondering myself!


Well, they're listed at $275, and I make around $150 per month with 1/5th the hashrate. So, given the current market, one could assume $750 a month from the BFL thingy, minus negligible power, as I think they're listed around 40w. So, a week or two.

That is, if they even exist.


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## levontraut

can someone look for my acc pls? should be under levontraut or levontraut @ gmail . com

i ahve no idea where it is.. all i know is i have one and there is a lot of money in it


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## Hokies83

Quote:


> Originally Posted by *Speedster159*
> 
> How risky is this? Say you buy one of those 5GH things, how long would you reckon it would pay itself off? And you start making profit?


2 weeks

http://dustcoin.com/mining


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## Speedster159

I feel like getting my hands on one of those 5GH ones.. this feels like gambling eh?

Any OCN guides out there for Nvidia cards? Also do you think running a Nvidia 6200TC would be worth it? (I don't, but i could be wrong)


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## SgtHop

Quote:


> Originally Posted by *Speedster159*
> 
> I feel like getting my hands on one of those 5GH ones.. this feels like gambling eh?
> 
> Any OCN guides out there for Nvidia cards? Also do you think running a Nvidia 6200TC would be worth it? (I don't, but i could be wrong)


Gambling indeed.

Mining on the 6200 is impossible, and realistically, I don't think mining on the 450 would be worth it. Nvidias are pretty terrible at mining.


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## sugarhell

You can use this to calculate the profit.

http://www.bitcoinx.com/profit/

or this for a quick one:

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


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## Hokies83

Quote:


> Originally Posted by *Speedster159*
> 
> I feel like getting my hands on one of those 5GH ones.. this feels like gambling eh?
> 
> Any OCN guides out there for Nvidia cards? Also do you think running a Nvidia 6200TC would be worth it? (I don't, but i could be wrong)


Nvidia cards are worthless for mining..

They will use more power then profit they make.

If you want to get started on a Budget the HD 7790 is a great choice.


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## Sisaroth

What does it actually calculate? Is it it similar to boinc or does it just do some random calculations (i assume not since i guess the money has to come from somewhere)?


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## Speedster159

With my GTS450 i'm looking 5 Dollars a month. With the BFL 302.82 USD first month...?

Would you consider 0.13 Kwh cheap?


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## Bitemarks and bloodstains

Here is a good video about BTC


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## SgtHop

Quote:


> Originally Posted by *Bitemarks and bloodstains*
> 
> Here is a good video about BTC


Mm. Superb video, thanks for posting it.


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## AlphaC

Quote:


> Originally Posted by *Speedster159*
> 
> With my GTS450 i'm looking 5 Dollars a month. With the BFL 302.82 USD first month...?
> 
> Would you consider 0.13 Kwh cheap?


With a HD7950 you'd get about $2 / day , or ~$1 after electricity

No , $0.13 USD/ KWh is average http://en.wikipedia.org/wiki/Electricity_pricing#Global_electricity_price_comparison

HD7950 with core overclocked , memory downclocked (and memory undervolted) is the best choice.

HD 7790 is not that efficient due to the amount of cards you can fit on a motherboard. Gets less than half the hash rate of a HD7950 , less Mhash/W but less $/Mhash. For a starter card it's a good intro.


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## Blameless

Quote:


> Originally Posted by *lacrossewacker*
> 
> immune to inflation? Who's to stop a company donating 24 hours of their server load to bitcoin "mining" and just loading up on some crazy amounts of _curreny_


Difficulty scales with hash rate.

Supply is effectively fixed, the share of that supply one can get is all that changes.
Quote:


> Originally Posted by *Hokies83*
> 
> A Asic Is a Gpu.
> 
> It has one goal in life and will only do one thing.
> 
> Mine Bit Coins.


GPUs are ASICs, but Bitcoin ASICs are not GPUs.
Quote:


> Originally Posted by *lacrossewacker*
> 
> has anybody here actually received lucrative assets from this? Money? Purchased items?


It's a billion dollar plus economy, so yeah.

Personally, I've almost totaly replaced PayPal with Bitcoin and Litecoin. I also mine (total profit of maybe 10k dollars in the last two years, I trade/sell as I go), but this has been secondary to simply using it to avoid ludicrous fees, privacy infringement, and transaction delays that anything associated with a bank usually implies.
Quote:


> Originally Posted by *WR6133*
> 
> Anyone says they are making money still GPU mining is
> 
> a - Liar
> 
> b - Steals electricity or has somebody else pay the bill and have 20+ GPU's running


You do realize that electricity is pretty cheap some places?

GPU mining profitability has taken a nose dive with increasing difficulty, this is true, however, at 8 cents a kw/h I can still make 3-5 times as much as electricity costs, with a proper setup.


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## Theroty

My interest in this got sparked a few months ago. I did some reading and research and lost the spark because the electricity here runs .8878 kw/h. I don't think that my 6950 would be of any good use with a rate like that. I do find all this very interesting though.


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## SgtHop

Quote:


> Originally Posted by *Theroty*
> 
> My interest in this got sparked a few months ago. I did some reading and research and lost the spark because the electricity here runs .8878 kw/h. I don't think that my 6950 would be of any good use with a rate like that. I do find all this very interesting though.


I'm surprised that you even bother turning on your computer to browse OCN with electricity at that cost, at least with anything more powerful than a netbook.


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## Speedster159

Got the calc wrong apparently, with my GTS 450 i would get -4.48.

Lol..


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## XiCynx

Quote:


> Originally Posted by *Theroty*
> 
> My interest in this got sparked a few months ago. I did some reading and research and lost the spark because the electricity here runs .8878 kw/h. I don't think that my 6950 would be of any good use with a rate like that. I do find all this very interesting though.


That is ridiculously expensive! Are you on some sort of private land or have a smaller electric company? The average electricity cost for the US is between .08-.17(.37 in Hawaii). If I were you I would be asking some questions to my electric company. Just took a second look, at .88 your electricity costs more than every other countries average in the world! :/


----------



## SgtHop

Quote:


> Originally Posted by *XiCynx*
> 
> That is ridiculously expensive! Are you on some sort of private land or have a smaller electric company? The average electricity cost for the US is between .08-.17(.37 in Hawaii). If I were you I would be asking some questions to my electric company. Just took a second look, at .88 your electricity costs more than every other countries average in the world! :/


At that rate, it would be cheaper to buy a solar power system, even if you lived in Canada.


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## lacrossewacker

nobody should feel toooo cheap about the power cost. We fold 24/7 for a good cause. At least this gives you some sort of payments back!


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## Speedster159

So apparently .13 is pretty good... o.o

And i thought our electricity here is high.. -.-"

What would be the best GPU to get for a budget of $50? (Considering the system will be some CM PSU with a Bronze certification, and an old 775 P4 at 2.4Ghz?)


----------



## SgtHop

Quote:


> Originally Posted by *Speedster159*
> 
> So apparently .13 is pretty good... o.o
> 
> And i thought our electricity here is high.. -.-"
> 
> What would be the best GPU to get for a budget of $50? (Considering the system will be some CM PSU with a Bronze certification, and an old 775 P4 at 2.4Ghz?)


Pretty much the most powerful AMD GPU you can find. I'd check the marketplace.


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## Bal3Wolf

you can profit off mining on gpus still might not be a huge profit but usualy 2x what the electric will cost this is around what i make right now. And thats calculated at 0.15kW/h some places are much cheaper mine might even be i didnt look up how much exactly we pay in my town.


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## Theroty

Actually, after doing some consulting apparently someone gave me the wrong information. My fiance normally handles the bill so I actually just took a notion to look at it today. 837 kws used at 80.94 for electric cost so that translates to about 10.34 per kw/h if I am correct. I had called customer service previously so apparently someone didn't know what they were talking about. My common sense should have told me that was stupid but I really didn't think about it much. There is no way we would spend almost 900 for electricity in a month... LOL!


----------



## SgtHop

Quote:


> Originally Posted by *Theroty*
> 
> Actually, after doing some consulting apparently someone gave me the wrong information. My fiance normally handles the bill so I actually just took a notion to look at it today. 837 kws used at 80.94 for electric cost so that translates to about 10.34 per kw/h if I am correct. I had called customer service previously so apparently someone didn't know what they were talking about. My common sense should have told me that was stupid but I really didn't think about it much. There is no way we would spend almost 900 for electricity in a month... LOL!


I was a little curious as to the validity of those numbers. This makes a lot more sense. In that case, fire up the machines and make some dollars.


----------



## AlphaC

Quote:


> Originally Posted by *Theroty*
> 
> Actually, after doing some consulting apparently someone gave me the wrong information. My fiance normally handles the bill so I actually just took a notion to look at it today. 837 kws used at 80.94 for electric cost so that translates to about 10.34 per *kw/h* if I am correct. I had called customer service previously so apparently someone didn't know what they were talking about. My common sense should have told me that was stupid but I really didn't think about it much. There is no way we would spend almost 900 for electricity in a month... LOL!


Your units are all wrong...

Electricity is priced in $ or EUR per kWh BUT you cannot just use your old bill and divide by the number of kwH.

Electricity in watts is per unit time (J/s). Multiply by hours and then you get kWh.

Usually your bill is broken down into:
basic service charge (flat rate) , say $30
+ charge per kwH for electricity (varies depending on month and may be tiered) , say $0.10 /kwH
+ delivery charge or whatever fees per kwH , say $0.005/kwH
+ taxes on the entire thing


Spoiler: for mine



Supply charge per kwH +Merchant function charge per kwH +GRT & tax surcharge per kwH = Total supply charge
Basic service charge + Delivery per kwH + Renewable energy charge per kwH + State surcharge per kwH + GRT&Tax surcharge = Delivery charge

The above * sales tax rate = TOTAL


----------



## Fulvin

Interesting. I'd wager a 7990 would be pretty beastly for this sort of thing with it's cherry picked high ASIC cores.


----------



## Bal3Wolf

Quote:


> Originally Posted by *AlphaC*
> 
> Your units are all wrong...
> 
> Electricity is priced in $ or EUR per kWh BUT you cannot just use your old bill and divide by the number of kwH.
> 
> Electricity in watts is per unit time (J/s). Multiply by hours and then you get kWh.
> 
> Usually your bill is broken down into:
> basic service charge (flat rate) , say $30
> + charge per kwH for electricity (varies depending on month and may be tiered) , say $0.10 /kwH
> + delivery charge or whatever fees per kwH , say $0.005/kwH
> + taxes on the entire thing
> 
> 
> Spoiler: for mine
> 
> 
> 
> Supply charge per kwH +Merchant function charge per kwH +GRT & tax surcharge per kwH = Total supply charge
> Basic service charge + Delivery per kwH + Renewable energy charge per kwH + State surcharge per kwH + GRT&Tax surcharge = Delivery charge
> 
> The above * sales tax rate = TOTAL


and its a pain trying to find accurate info befor you get your bill if they have to pay more fuel rates they pass it along to you so your rate could jump really high one month and be really low. The next summer months is normaly higher but funny thing we been paying less this summer so far with me mining and the ac on then we was in the winter with me mining and the heat turned on but at 60 so it didnt come on very much.
Quote:


> Originally Posted by *Fulvin*
> 
> Interesting. I'd wager a 7990 would be pretty beastly for this sort of thing with it's cherry picked high ASIC cores.


at 1100mhz you would be looking at 1.3ghash.


----------



## SgtHop

Quote:


> Originally Posted by *Fulvin*
> 
> Interesting. I'd wager a 7990 would be pretty beastly for this sort of thing with it's cherry picked high ASIC cores.


It would indeed. However, you also have to factor in the cost/performance ratio, and the fact that they pump out a lot of heat. If you can get one really cheap, or already have one, it would probably be the way to go.


----------



## AlphaC

^ My point is you need to find out which portion of the bill varies based on kwH and which is a fixed rate (basic service charge).

I wouldn't advise mining when it is 95°F outside simply because you also pay double what you think you're paying (higher electricity cost in summer + if you turn on air conditioning you pay again to exhaust the heat created by your GPUs)

So for quadfire HD7950 using 1200W, you also need something that pushed 1200W out of the area... 1 kilowatt of power = 3412.1416 BTU/hr so 1.2KW = 4000BTU cooling by air conditioner (per hour) at a minimum


----------



## Krusher33

Quote:


> Originally Posted by *AlphaC*
> 
> ^ My point is you need to find out which portion of the bill varies based on kwH and which is a fixed rate (basic service charge).
> 
> I wouldn't advise mining when it is 95°F outside simply because you also pay double what you think you're paying (higher electricity cost in summer + if you turn on air conditioning you pay again to exhaust the heat created by your GPUs)
> 
> So for quadfire HD7950 using 1200W, you also need something that pushed 1200W out of the area... 1 kilowatt of power = 3412.1416 BTU/hr so 1.2KW = 4000BTU cooling by air conditioner (per hour) at a minimum


Watercoolers are fine. My mancave has no AC. It's 78f outside right now and in my room it's 83f. Yet my card that is mining is still under 50c on the core, 64c on VRM1.


----------



## Theroty

Well, thanks for the heads up and tip. My current hardware will not turn any profit out so I think I will just stay away from it completely for now. Good luck to the rest of you though!


----------



## Hokies83

Quote:


> Originally Posted by *Theroty*
> 
> Well, thanks for the heads up and tip. My current hardware will not turn any profit out so I think I will just stay away from it completely for now. Good luck to the rest of you though!


Weaker systems Benefit alot from Alt coins

Check my thread and look into Lite coin / Digital coin.


----------



## farmdve

Btw, just a heads up, there are numerous alt-coins based on Bitcoin.

It all started with Ixcoin(though Namecoin was technically first). I had a 9BTC profit from Ixcoin back in 2011.


----------



## Bal3Wolf

anyone here get to sell your coins at 250usd when they went thru the roof i think i sold some for 190 but thats the highest i ever sold coins for.


----------



## farmdve

Quote:


> Originally Posted by *Bal3Wolf*
> 
> anyone here get to sell your coins at 250usd when they went thru the roof i think i sold some for 190 but thats the highest i ever sold coins for.


Right here. I was able to squeze about 12 Bitcoins and sold for various prices, including 235-250 or so.


----------



## Bal3Wolf

Quote:


> Originally Posted by *farmdve*
> 
> Right here. I was able to squeze about 12 Bitcoins and sold for various prices, including 235-250 or so.


nice lol i waited to long and they droped i did make about 1050usd from feb 28th to may 28 with 2ghash.


----------



## badtaylorx

which miner should i use for a pair of tahiti le cards in xfire + an i7 2700k???


----------



## XiCynx

Quote:


> Originally Posted by *badtaylorx*
> 
> which miner should i use for a pair of tahiti le cards in xfire + an i7 2700k???


I don't believe your processor is involved at all with this, it's purely GPU's so that is all you will need to look at.


----------



## Bal3Wolf

cgminer beware alot of antivirus like to flag it from its early days when some people tried to use it in botnets to mine with cpus. I use guiminer with the newest cgminer inside it so i get the ease of a gui and newest copy of cgminer and it can mimiaze to the taskbar.

will find alot of the differt mining software.
https://bitcointalk.org/index.php?board=42.0


----------



## cam51037

WOOHOO!!!! BITCOIN DISCUSSION HERE AT OCN! THIS EXCITES ME THOROUGHLY!!!

Anyway, maybe I'll talk about my setup?

Current setup is a 7850 mining at around 340MH/s 24/7 with an i7 powering it. :/ Kinda high powered CPU but w/e it gets the job done, currently made around 0.7 bitcoins, but the power just came in and it's $50 higher than usual.









Anybody want to sell me their BFL or other brand of ASIC miner? Not looking for the USB ones, I'm looking for a 5 GH/s+ miner, stupid GPU's take too darn much power!


----------



## TheSocialHermit

Quote:


> Originally Posted by *lacrossewacker*
> 
> has anybody here actually received lucrative assets from this? Money? Purchased items?


I actually was able to get a platform upgrade from a Q8200 LGA775 to a i7-920 LGA1366 that I'm running now, all through Bitcoins but that was before the big crash after it reached $33 a Coin the first time around.


----------



## ivanlabrie

I'd suggest you guys downvolt the gpus and underclock and downvolt both ram and cpu.


----------



## XiCynx

Quote:


> Originally Posted by *ivanlabrie*
> 
> I'd suggest you guys downvolt the gpus and underclock and downvolt both ram and cpu.


Why is this? Fill us with your knowledge!


----------



## Crim427

I currently have a 5830 and a 5750 sitting around from upgrades and was thinking about making a cheap dual gpu miner with them since they dont need to be crossfired and not really sure what else to do with them.


----------



## ivanlabrie

Quote:


> Originally Posted by *XiCynx*
> 
> Why is this? Fill us with your knowledge!


To save power, no need to have a beast cpu sucking watts, same with ram...
7950s can be oced more than enough with 1.09v-1.1v core for litecoin mining.
Quote:


> Originally Posted by *Crim427*
> 
> I currently have a 5830 and a 5750 sitting around from upgrades and was thinking about making a cheap dual gpu miner with them since they dont need to be crossfired and not really sure what else to do with them.


You can definitely mine litecoins now, go to www.give-me-ltc.com and start now.








That's the safest bet these days, at least till you get to know more about the market.
Use guiminer-scrypt, it'll come with some presets for different cards...Downvolt the core a bit and try to oc as much as possible without getting crashes when mining, and try to up the memory clocks as much as possible.


----------



## SgtHop

When I was mining bit coins on dedicated systems, I would use a nice P67 board and either one of the dual core pentiums or a single core celeron. Those were more than enough to run W7 and the mining client.


----------



## Speedster159

Has anybody done or heard about Bitcoin leasing?

http://www.minerlease.com/contracts/indefinite/


----------



## Jeffinslaw

Quote:


> Originally Posted by *Speedster159*
> 
> Has anybody done or heard about Bitcoin leasing?
> 
> http://www.minerlease.com/contracts/indefinite/


That screams scam so hard...

Anyways, for anyone that is interested in mining Litecoins, I have posted a very thorough guide on how to get started mining Litecoins. Here is the link: http://www.overclock.net/t/1398250/how-to-start-mining-litecoins

Jeffinslaw


----------



## ivanlabrie

Quote:


> Originally Posted by *Speedster159*
> 
> Has anybody done or heard about Bitcoin leasing?
> 
> http://www.minerlease.com/contracts/indefinite/


You could try asicminer shares, that's legit same as buyahash contracts...Thing is it's expensive for what you get, but well.
Saves you the hassle of power usage, setting up a mining farm and getting a lot of gpus to mine or waiting for an asic to show up eventually.


----------



## farmdve

Quote:


> Originally Posted by *ivanlabrie*
> 
> You could try asicminer shares, that's legit same as buyahash contracts...Thing is it's expensive for what you get, but well.
> Saves you the hassle of power usage, setting up a mining farm and getting a lot of gpus to mine or waiting for an asic to show up eventually.


When I was thinking of buying ASICMINER shares, one was worth only 0.70BTC, the next time I looked at the price they were trading at 2, probably more now.


----------



## ivanlabrie

Quote:


> Originally Posted by *farmdve*
> 
> When I was thinking of buying ASICMINER shares, one was worth only 0.70BTC, the next time I looked at the price they were trading at 2, probably more now.


2.48btc atm, you could have bought and sold for profit








They sell cheaper TAT shares now, just google asicminer TAT shares and you'll find em.
There's also the buy a hash ltc mining bond shares, but I don't think it's money well spent, unless you got crazy expensive electricity.


----------



## Krusher33

Even though I'm taking advantage of this... I still don't understand what we're processing. What are they paying us the coins for?


----------



## WR6133

Quote:


> Originally Posted by *Krusher33*
> 
> Even though I'm taking advantage of this... I still don't understand what we're processing. What are they paying us the coins for?


In basic terms you are processing the transactions. Groups of transactions are bundled up in to blocks and then the miners "confirm" or "move" them along. When a block is completed it generates some new coins which is what you take a share of (in a pool) or all of (solo). Most of the transactions are people gambling or buying party favours via certain marketplaces.

The above is oversimplified a lot but is the basics Wikipedia will tell you a lot more detail.


----------



## Krusher33

I tried to read the wiki awhile back but it went over my head.


----------



## Sisaroth

Quote:


> Originally Posted by *Krusher33*
> 
> I tried to read the wiki awhile back but it went over my head.


I first thought it was like boinc and but that you get paid with virtual currency instead of doing it entirely voluntary, but if i understood it well then It's just a waste of energy. I don't get who would buy those bitcoins in the first place. Except maybe power companies, AMD or those asic manufacturers.


----------



## Krusher33

Quote:


> Originally Posted by *Sisaroth*
> 
> Quote:
> 
> 
> 
> Originally Posted by *Krusher33*
> 
> I tried to read the wiki awhile back but it went over my head.
> 
> 
> 
> I first thought it was like boinc and but that you get paid with virtual currency instead of doing it entirely voluntary, but if i understood it well then It's just a waste of energy. I don't get who would buy those bitcoins in the first place. Except maybe power companies, AMD or those asic manufacturers.
Click to expand...

This video does a good job explaining some where mid through about why people uses bitcoin.




I think it's a big hit for people who don't want to pay banks.


----------



## ivanlabrie

Yep, that vid is great.


----------



## Krusher33

Quote:


> Originally Posted by *ivanlabrie*
> 
> Yep, that vid is great.


The entire series was excellent. I couldn't understand anything anyone was saying about the entire process till I watched each one of those.


----------



## rafety58

Sol I have been mining on my 7950 for the last few months, but now I am seeing artifacting in some of the games I play (dirt3, DX:HR just to name a few)

So I was wondering, when I go to rma my card, should I tell xfx that I was mining? I have also installed the bracket from dwood, a month or two ago on my card.

EDIT:
It only seems to artifact in DX11 games, but not all of them (BF3 I can play no problem)


----------



## <({D34TH})>

I guess I should go with Litecoin then. I don't think my 5800K's IGP(~6670 equivalent) can handle Bitcoins.


----------



## Hokies83

Quote:


> Originally Posted by *<({D34TH})>*
> 
> I guess I should go with Litecoin then. I don't think my 5800K's IGP(~6670 equivalent) can handle Bitcoins.


Check the main mining thread covers all coins Bit coins litecoins Digital coins.

I suggest Digital Coins over lite coins anyday.

http://www.overclock.net/t/1398219/bitcoin-litecoin-digitalcoin-and-all-crypto-currencies-club-and-general-information-thread/0_20


----------



## ivanlabrie

Yeah, specially with that gpu, you won't make money at all with less profitable coins...even then I'd suggest saving for a 7950 if you think it's something you feel like doing, and you pay less than 0.3usd kWh.


----------



## rafety58

Alright so I was doing some testing, and I am only getting artifacts when i have tessellation turned on. So is this my vrms getting to hot, or my memory?


----------



## Mr.N00bLaR

Quote:


> Originally Posted by *<({D34TH})>*
> 
> I guess I should go with Litecoin then. I don't think my 5800K's IGP(~6670 equivalent) can handle Bitcoins.


My 5600K with 1600MHz RAM in dual channel can hit ~70-75MH/s. 80+KH/s. If I had faster ram I bet the GPU could get over 100KH/s. From my killawatt testing, my igp uses about 35watts from the wall which makes the ratio 2 or better, which is pretty good for a GPU in general, so I mine on it.


----------



## ivanlabrie

Quote:


> Originally Posted by *Mr.N00bLaR*
> 
> My 5600K with 1600MHz RAM in dual channel can hit ~70-75MH/s. 80+KH/s. If I had faster ram I bet the GPU could get over 100KH/s. From my killawatt testing, my igp uses about 35watts from the wall which makes the ratio 2 or better, which is pretty good for a GPU in general, so I mine on it.


Good then, but you need more firepower to get a decent income, pairing that with a couple 7950s would be nice.


----------



## TheSocialHermit

Quote:


> Originally Posted by *rafety58*
> 
> Sol I have been mining on my 7950 for the last few months, but now I am seeing artifacting in some of the games I play (dirt3, DX:HR just to name a few)
> 
> So I was wondering, when I go to rma my card, should I tell xfx that I was mining? I have also installed the bracket from dwood, a month or two ago on my card.
> 
> EDIT:
> It only seems to artifact in DX11 games, but not all of them (BF3 I can play no problem)


You could just tell them you were doing some OpenCL research projects for long periods. I did that when my XFX 5850 had a fan die on me after mining for a few months. Nothing in their warranty about using them for extended periods at high loads but any mention of overclocking is a no-go.


----------



## AlphaC

Quote:


> Originally Posted by *rafety58*
> 
> Alright so I was doing some testing, and I am only getting artifacts when i have tessellation turned on. So is this my vrms getting to hot, or my memory?


Tell them you were running [email protected]


----------



## <({D34TH})>

Quote:


> Originally Posted by *Mr.N00bLaR*
> 
> My 5600K with 1600MHz RAM in dual channel can hit ~70-75MH/s. 80+KH/s. If I had faster ram I bet the GPU could get over 100KH/s. From my killawatt testing, my igp uses about 35watts from the wall which makes the ratio 2 or better, which is pretty good for a GPU in general, so I mine on it.


Well, I should probably be getting 100MH/s or so since the 5800K has 384 cores and I have it paired with 1866 RAM.


----------



## <({D34TH})>

KH/s I mean


----------



## Mr.N00bLaR

Quote:


> Originally Posted by *<({D34TH})>*
> 
> Well, I should probably be getting 100MH/s or so since the 5800K has 384 cores and I have it paired with 1866 RAM.


Quote:


> Originally Posted by *<({D34TH})>*
> 
> KH/s I mean


I also have overclocked my igpu by about 250MHz. I'm not sure if the .57-.6 core/memory rule applies to the igpu models like it does to other 7000 series cards.


----------



## CudaBoy71

Man just a lil while ago I got my arse reamed by a mod for mentioning bitcoins.. Now everyone is on the band wagon. I have made a few dollars off it and am considering doing it again.


----------



## khaosstrife

Testing out a Diamond HD 7970 and I am getting around 550 mH/s with GUIminer but I think it can do better. Any suggestions on settings and perhaps other tools/miners?

Thanks in advance.


----------



## cam51037

Quote:


> Originally Posted by *khaosstrife*
> 
> Testing out a Diamond HD 7970 and I am getting around 550 mH/s with GUIminer but I think it can do better. Any suggestions on settings and perhaps other tools/miners?
> 
> Thanks in advance.


Well, first of all come to this thread: http://www.overclock.net/t/1398219/official-bitcoin-litecoin-digitalcoin-and-all-crypto-currencies-club-and-general-information-thread/2700

It's much more activate and you should be getting at least 650KH/s from that 7970.

What mining program are you using?

Edit: Oops, sorry, I missed the GUIMiner part. Try setting intensity to 13, and thread-concurrency to 8192 and see if that changes anything.


----------



## khaosstrife

Quote:


> Originally Posted by *cam51037*
> 
> Well, first of all come to this thread: http://www.overclock.net/t/1398219/official-bitcoin-litecoin-digitalcoin-and-all-crypto-currencies-club-and-general-information-thread/2700
> 
> It's much more activate and you should be getting at least 650KH/s from that 7970.
> 
> What mining program are you using?
> 
> Edit: Oops, sorry, I missed the GUIMiner part. Try setting intensity to 13, and thread-concurrency to 8192 and see if that changes anything.


Will do buddy. On my way now.


----------



## grunion

Anyone ever buy from bitmit?


----------



## cam51037

Quote:


> Originally Posted by *grunion*
> 
> Anyone ever buy from bitmit?


I haven't before but I've heard they have good escrow service and there's some decent items for sale.


----------



## grunion

Quote:


> Originally Posted by *cam51037*
> 
> I haven't before but I've heard they have good escrow service and there's some decent items for sale.


15% commission though, got my eye on a couple 7970s I see listed.
The buy price is a bit steep at 250, but bidding starts at $200.


----------



## cam51037

Quote:


> Originally Posted by *grunion*
> 
> 15% commission though, got my eye on a couple 7970s I see listed.
> The buy price is a bit steep at 250, but bidding starts at $200.


If you're looking for a couple of 7950's I can link you to 7 Gigabyte 7950's that someone is trying to sell for $145/piece. I have my eyes on one of them, just need to get the funds together.


----------



## Rar4f

I plan on getting R9 280X which is pretty much a 7970.
Power will cost 0,06 $ kWh

I want to run miner program with most stable settings.
Steady and stable is what i want so i know i will have good probability of earning money.

So how many bitcoins will i have every month?


----------



## Epipo

Quote:


> Originally Posted by *Rar4f*
> 
> I plan on getting R9 280X which is pretty much a 7970.
> Power will cost 0,06 $ kWh
> 
> I want to run miner program with most stable settings.
> Steady and stable is what i want so i know i will have good probability of earning money.
> 
> So how many bitcoins will i have every month?


You can use this link as a ruff estimate. keep in mind that if the pool hashrate is loww it may take longer.
Correct me if I'm wrong. I only started like 2 months ago.
http://www.bitcoinx.com/profit/
Good luck.


----------



## reymarkperry

@Speedster159: If you still haven't wrapped your head around bitcoin, this infographic might help you understand it easier:


----------



## rocklobsta1109

Maybe I've missed something here but to what end, other than receiving your fraction of a BTC, are we solving these complex calculations? It seems like expending energy solving arbitrary math problems for the sole reward of a digital currency. Is this it? Or did I blatantly miss some key part of this crypto-currency system?


----------



## Krusher33

Quote:


> Originally Posted by *rocklobsta1109*
> 
> Maybe I've missed something here but to what end, other than receiving your fraction of a BTC, are we solving these complex calculations? It seems like expending energy solving arbitrary math problems for the sole reward of a digital currency. Is this it? Or did I blatantly miss some key part of this crypto-currency system?


I like the videos by khan academy: https://www.khanacademy.org/economics-finance-domain/core-finance/money-and-banking/bitcoin/v/bitcoin-what-is-it

Simply put you're verifying transactions as legitimate and they make it complex for anti-fraud reasons.


----------



## dbzane1

Did you hear something about DMarket.io? Recently read an article. There are founder ZeroGravity from NaVi. The interesting idea with blockchain, I think it will work great.


----------

