Author Topic: Bitcoin mining?  (Read 59192 times)

Re: Bitcoin mining?
Reply #195 on: January 29, 2014, 18:07:40 PM
what gfx card do you have ?

download this for a wallet  https://multibit.org/

download this for a miner... http://guiminer.org/guiminer-scrypt.html
(it's not the fastest miner... but there's not much difference between them and this one is a piece of cake to use/setup)

go to https://litecoin.info/Mining_hardware_comparison to check out how many hash you'll get out of your card, and find the right settings for your card (or tell me what you have and I'll find it for you.... it's a pita the first time)

then go herehttp://www.middlecoin.com/ and start mining :-)
(point miner at eu.middlecoin.com on port 3333, set your user name to your wallet address, and type anything in as a password because it's not used)

then just leave it mining and forget about it... it'll probably take 48 hours before you get your first payout... you don;t need to leave your wallet open, you can just fire that up for 5 min here and there and it'll collect your payments for you)


that's the easiest way to do it... it'll mine whatever coin gives the best profit ratio at the time, moddlecoin then sells those coins, buys bitcoins, then sends you the bitcoins once every 24hours (min payout of 0.01)

best place to sell them I've found so far is mtgox.com BUT... I'm till waiting for my account to be verified so I can withdraw money from the site... it's supposed to take 20days but it's been more like 30 so far...
(not too worried about them ripping me off because they're making millions/month legit anyway)

I started just after Christmas and I've made about £600 so far... I wasn't even going to bother but my nephew set it up... and I quite like the idea of my OC working away while I'm not on it :-)
Last Edit: January 29, 2014, 18:14:21 PM by knighty #187;

Re: Bitcoin mining?
Reply #196 on: January 29, 2014, 20:48:42 PM
So according to that site, I'd get 882 hash for my card.

What sort of $$ would that net me?

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Re: Bitcoin mining?
Reply #197 on: January 29, 2014, 21:21:14 PM
Firstly heres a silly article I wrote on BTC http://www.chasethedevil.co.uk/britcoin-saga-banking-sector-warns-britons-on-bitcoin/ I have to pimp it sorry ;)


Are you keeping some BTC now then knighty?

I'm writing a whitepaper on BTC atm (serious not silly) nobody has asked me to mind, but the potential is mahoosive.

Re: Bitcoin mining?
Reply #198 on: January 30, 2014, 00:35:08 AM
So according to that site, I'd get 882 hash for my card.

What sort of $$ would that net me?

1400hash got me £600 since the 17th of december...

but I keep forgetting to turn my miner on, and I run it at 700hash while I use the pc


I'm not keeping any of my coins... I'm selling them all

#I don;t think bitcoin will fail... I just don't ever see it becoming mainstream... I might start keeping some.,,

main problem I see with it is, for it to become properly mainstream, countries/banks/financial institutions are going to have to accept it as currency... and why would they do that when they'd have to start from nothing and buy them from a few geeks who would now be worth millions... (can;t remember numbers, but a small % of people own a large % of coins)

instead, they could set up there own electronic/world/decentralised currency... where the people who already have all the money get to decide how it works (and get to make the rest of us trade them real cash for it).... or whatever

Re: Bitcoin mining?
Reply #199 on: January 30, 2014, 16:35:21 PM
Thanks for the guide, quite close to having it running now. Unfortunately my hardware is woeful so its more theoretical at the moment.

What hardware gets you 1400kh/s? Thats huge judging by the hardware comparison.

Logically, if 1400 gets you ~ £500pm then dedicated ASIC mining hardware looks very attractive. 25Mh/s would equal >£9000pm

https://alpha-t.net/product/viper-scrypt-miner-25mhs/

Any of you considering a punt on dedicated hardware?
Formerly sexytw

Re: Bitcoin mining?
Reply #200 on: January 30, 2014, 19:31:54 PM
I've got a water-cooled 7990... I flashed the bios so there's no power limit now (it's limited to about 500watts stock) but I haven't bothered over clocking it (2 cores, each getting 700hash)

I'll post up my middlecoin graph when I get home and have the link ;)


stay way from the ASIC mining stuff.... they only mine bitcoins, and the bitcoin difficulty is so high it'll take forever to get your money back (ir ever)

bitcoins are sha256, which ACSI/FPGA/whatever can mine really fast

litecoins/didgecoins etc.. are scrypt (a different kind of cryptography) especially made to be hard to mine with anything other than a GFX card
(they use a bit of gfx card ram, where bitcons use next to none)

asci for scrypt coins are starting to come out... but they're crap right now... it'll be a while before they're profitable, and as soon as they are they'll be sucked up by bitcoin millionaires running in data centres who will kill the profitability of scrypt coins...

then some other type of coin will come out, so you can mine that with a gfx card (and on and on)

I keep getting tempted by setting up a gfx mining rig with 5 cards in it... and priced it up a few times... it could do well... or something could change after a week and it would be worthless... it's too hard to say


(check this for profitability of mining bitcoins directly http://www.bitcoinx.com/profit/)


if you stick with middlecoin (of one of the other pools like it) they mine whichever coin is most profitable at the time, sell it for bitcoins and then send you the bitcoins... it's risky to hold onto no-name coins, there's loads of them and there prices are very volatile
Last Edit: January 30, 2014, 19:34:20 PM by knighty #187;

Re: Bitcoin mining?
Reply #201 on: January 30, 2014, 22:38:56 PM
Woohooo 0.00000095 Btc!!  :panic:

That ASIC I linked to is for mining scrypt, I think it will be one of the first out. A work colleague got in on the pre-order, not due to be delivered for couple of months, I'll be very curious to find out if it can deliver on the performance promises, if so I'll be following on with an order for myself.

I like this, going to have to work out what hardware is best for me to get more involved.
Formerly sexytw

Re: Bitcoin mining?
Reply #202 on: January 31, 2014, 00:10:05 AM
this is me

http://middlecoin2.s3-website-us-west-2.amazonaws.com/reports/1P5LkSiDaz1Ee2bxDXKvp8BPKBApAMubVL.html

A work colleague got in on the pre-order, not due to be delivered for couple of months,



Nooooooooooooooooooooooooooo!

it's pretty much accepted as a massive scam :-(

if you google street view there address... it looks like a chip shop with an "alpha technology" sign over the door instead of a chip shop sign :(

if they do come out... then they might pay out pretty well...

problem is when things like this came out for bitcoins... the people selling them held onto them and ran them for months before posting them out... chances are the same thing might happen again :-(

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Re: Bitcoin mining?
Reply #203 on: January 31, 2014, 09:29:28 AM
ASIC pre-ordering is expensive gambling, your queue place is paramount, that's if they even deliver the goods then assuming they run at the first advertised speed you have the brutal difficultly level to contend with.

If you're going to mine alts you might do OK, but there are absolutely no certainties.

Re: Bitcoin mining?
Reply #204 on: January 31, 2014, 22:50:20 PM
Noted, the guy's aware of the gamble he's taking. Will be interesting to see if it pans out.

this is me

http://middlecoin2.s3-website-us-west-2.amazonaws.com/reports/1P5LkSiDaz1Ee2bxDXKvp8BPKBApAMubVL.html


How should this be read? Trying to do some maths on kh/s into BTC's average but failing to do so.


I'm thinking of buying an R9 280X 11221-00-40G (740kH/s) and trying it in an old rig I've got. Hopefully I'll at least break even on the investment if it runs for a month (£220 on Amazon at the moment).

Any pointers?
Last Edit: January 31, 2014, 23:07:11 PM by addictweb #187;
Formerly sexytw

Re: Bitcoin mining?
Reply #205 on: February 01, 2014, 02:07:04 AM
it's just a graph of my payouts... it would be better if I mined at the same rate all the time... but I'm always pausing it, putting it on half etc.. so it's hard to read

£220 is a good price, and you should get it back in a month.... but it's still a gamble either way

things to watch out for... you'll need a decent psu in the computer (or one for the rest of the build and one for the card) and it's going to be noisy... fans will be clost to 100% 24/7


now I think about it... I'm tempted again to go buying lots of cards.... :-o

Re: Bitcoin mining?
Reply #206 on: February 01, 2014, 18:34:59 PM
now I think about it... I'm tempted again to go buying lots of cards.... :-o

4 of those cards (£880), a quad Xfire mobo (£90) and a decent 1100w PSU (£150) is about as good as it gets in a single rig £/kH from what I can see. About 3000kh/s for £1200ish.

Annoyingly I've just been investigating my parts collection and the ~unused mobo I was going to use wont post so it raises the entry cost for me. Also not sure I have anywhere I can both run a screaming rig and keep it cool. Safety wife and inquisitive toddler be dammed.
Formerly sexytw

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Re: Bitcoin mining?
Reply #207 on: February 01, 2014, 19:19:50 PM

I keep getting tempted by setting up a gfx mining rig with 5 cards in it... and priced it up a few times... it could do well... or something could change after a week and it would be worthless... it's too hard to say

Whatever you spend on a system you will get most of the cost back via Ebay if it all goes wrong, remember all that stuff i sold of yours!
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Re: Bitcoin mining?
Reply #208 on: February 02, 2014, 02:03:20 AM
you can run 6 cards in one rig... pciex1 slots work just as well for mining

yeah you're right Jamie... I might take the plunge :-o

Re: Bitcoin mining?
Reply #209 on: February 02, 2014, 15:59:47 PM
Just set this up out of curiosity, and my poor old gpu only getting 190k/hps.

Anyway, is it no normal for the whole computer to run dog slow during mining? and have the occasional artifact on screen?

GPU temp has stabilized around 58c.

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