Bitcoin - Mine Your Money

[Kiwi]

Um63OQz3bjo

Bitcoin P2P Virtual Currency

 

So basically, you'll be mining Bitcoins, which will be traded for fiat currencies.

 

Prices can be checked here: https://mtgox.com/trade/sell (Currently $19USD/BTC)

 

Requirements:

 

• Mining Program (I preferred GUI)
  
• Bitcoin Client
  
• IRC Client (For Selling)
  
• ATi Drivers (10.11 or latest are preferred)
  
• AMD APP 2.4 or ATi Stream SDK 2.1 (OpenCL Support)
  

 

AMD Video Cards are preffered. Nvidia cards are rubbish with mining.

 

Database for finding most efficient cards (may be outdated): https://en.bitcoin.it/wiki/Mining_Hardware_Comparison

 

Calculator to find profitability: http://bitcoinx.com/profit/index.php

 

 

 

There is one large factor in making the decision to buy or mine.

 

I myself mined, and sold my cards in the end (Could've had a $1500 profit, but I sold at the wrong time and only made $800)

 

Difficulty is a "security" measure to make sure that a block is found every 10 minutes, if not, every 2160 blocks, the difficulty will raise/lower to compensate. Higher difficulty = more time, but most of the time, it's negligible since price usually follows difficulty.

 

In the end, buying can get you the farthest, but mining is great if you have the hardware.

[h3adsh0t]

Whoah. This is pretty neat. Might have to check this out.

[Harry]

Unless your power is really cheap like mine, you'll probably be spending more per month on electricity than you would mine. Also, the bubble is going to burst soon, I predict... so I don't know.

[Kiwi]

Unless your power is really cheap like mine, you'll probably be spending more per month on electricity than you would mine. Also, the bubble is going to burst soon, I predict... so I don't know.

 

I mined my electricity bill in 2 1/2 days ($50). So not really. =\

[Harry]

I mined my electricity bill in 2 1/2 days ($50). So not really. =\

More like in Yurop where it's €0,40+/kwh. And when the bubble bursts, what then?

 

Bitcoin has no economical backing, other than idiots who pay "real" money for that mickey mouse money.

[TheVirus]

I mined my electricity bill in 2 1/2 days ($50). So not really. =\

 

What hardware are you using that you can get ~2-3BTC in under 3 days?

[Lux]

So I've dl'd all these things........whut do?

 

I have 1 ATI 6870......and I don't have a clue what is happening......I'm supposedly "generating" but my balance is 0.00........so I dunno what to think......or what options/settings to do.

[Kiwi]

What hardware are you using that you can get ~2-3BTC in under 3 days?

 

2 5850s. ~650Mhash/s

 

 

So I've dl'd all these things........whut do?

 

I have 1 ATI 6870......and I don't have a clue what is happening......I'm supposedly "generating" but my balance is 0.00........so I dunno what to think......or what options/settings to do.

 

Don't generate with the Bitcoin client, sign up for a pool (I used https://deepbit.net/ , it's gotten control of most of the network now, so you might choose a smaller pool. You're balance will update every hour.

 

Also, under flags I suggest using "-v -w128 -f90" It'll lower the priority allowing you to mine and continue using your computer.

[Tweezy]

2 5850s. ~650Mhash/s

 

 

 

 

Don't generate with the Bitcoin client, sign up for a pool (I used https://deepbit.net/ , it's gotten control of most of the network now, so you might choose a smaller pool. You're balance will update every hour.

 

Also, under flags I suggest using "-v -w128 -f90" It'll lower the priority allowing you to mine and continue using your computer.

 

What's the best miner to use?

 

---

 

Ok, so wtf is happening at this moment?

 

2500 Khash/s

 

How much money am I getting?

[Kiwi]

What's the best miner to use?

 

---

 

Ok, so wtf is happening at this moment?

 

2500 Khash/s

 

How much money am I getting?

 

The GUI Miner is the best currently.

Are you sure you're not using your CPU? You're not gaining anything at that rate.