Bitcoin Discussion Thread Part 2

Discussion in 'Mining & Cryptocurrency' started by Stiletto, Jun 25, 2011.

  1. Silent Knight

    Silent Knight [H]ard|Gawd

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    [​IMG]

    This means i'll get .2 BTC when the next block is found,doesn't it tsd?
     
  2. TheGeekFreek

    TheGeekFreek [H]ardness Supreme

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    yup..
    Guessing you are at ~700-800 MHash?
     
  3. Silent Knight

    Silent Knight [H]ard|Gawd

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    220 :D
     
  4. TheGeekFreek

    TheGeekFreek [H]ardness Supreme

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    Guess I was Just assuming that was your 24 hour total
     
  5. Spare-Flair

    Spare-Flair [H]ardness Supreme

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    Which pool are you on? .2 BTC per block? That's a big share for 220m/H. I only get 0.08 BTC per block. Then again, I get shares from 38 blocks a day.
     
  6. Lorien

    Lorien [H]ardness Supreme

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    It has to be a pool with a pretty low number of workers. Low workers usually means low hashrate which unfortunately means very low chance of finding blocks.
     
  7. Tyson95

    Tyson95 [H]ard|Gawd

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  8. Omegas

    Omegas [H]ardForum Junkie

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    with bitcoins heading down, I don't think many will be expanding at that price.
     
  9. tsd

    tsd [H]ard|Gawd

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    It's an estimate. You'll probably get near that, yes.
     
  10. Spare-Flair

    Spare-Flair [H]ardness Supreme

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  11. Silent Knight

    Silent Knight [H]ard|Gawd

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    simplecoin.us by tsd,some [H] members are mining there too.

    Only 4 blocks was found,the most recent one took 6 days.
     
  12. tsd

    tsd [H]ard|Gawd

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    Only 4 since relaunch, we had 2 before that.

    Yes, payouts are slow, but we've been lucky for the most part 3 of those blocks were well under difficulty.

    Additionally, the new dedicated sql server is up.
     
  13. master noran

    master noran 2[H]4U

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    Fak, currently at around $8 per BTC.
     
  14. Yakk

    Yakk [H]ardness Supreme

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    Yup... unfortunately it re-tested the low as I said and the bounces look good... looks like maybe will stay higher than before the media blitz it seems...
     
  15. Silent Knight

    Silent Knight [H]ard|Gawd

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    With such a low price,i think a lot of miners would pull out and the difficult might go down.

    And hopefully we'll get a higher exchange rate than that.
     
  16. Kardonxt

    Kardonxt 2[H]4U

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    If it holds firm at 8 it wouldn't be too bad. At least more businesses may be interested in accepting the currency if it didn't have wild swings in value.
     
  17. Spare-Flair

    Spare-Flair [H]ardness Supreme

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    Where you can check/track total network hashes so you could get a feeler on how miners are responding to the low prices or if difficulty will go down?
     
  18. Parja

    Parja [H]ardForum Junkie

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    http://dot-bit.org/tools/nextDifficulty.php - Estimate of next difficulty
    http://bitcoin.sipa.be/ - Hashing and difficulty over time graphs

    People are definitely bailing. Estimated next difficulty was 91% this morning, but now it's down to 89%.
     
  19. traderj

    traderj Limp Gawd

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    Just hope that people wait till there is only ~16 blocks left to find this round before backing out. Drastic decrease FTW. But seriously at $6 I would consider backing out as well.
     
  20. Dallows

    Dallows [H]ardness Supreme

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    I wonder why it's dropping so much
     
  21. nxcess

    nxcess 2[H]4U

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    damn. that's some drop
     
  22. meme

    meme Limp Gawd

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    Are you guys even making any money any more, at $6.50 a bitcoin?

    At that price, and with the current difficulty, my electricity cost and the amount of bitcoins I would make are about even, with my 5770.
     
  23. WhoBeDaPlaya

    WhoBeDaPlaya 2[H]4U

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    Technically, _I'm_ making money, but only because my electricity is free (mining with 2x 5830s at work).
     
  24. mir

    mir Limp Gawd

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    My minner taking a Weekend off
    Sheesh I felt I was running some sweet shop
     
  25. Dallows

    Dallows [H]ardness Supreme

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    I'm still mining. I don't see myself stopping. I got into this earlier with my dad to fund the project. Didn't put that much money in but we realized the possibility of making making any money. We can also just sell the hardware and at least make something back.

    It's gone up a little bit though. Up around $7
     
  26. nxcess

    nxcess 2[H]4U

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  27. master noran

    master noran 2[H]4U

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    Well it seems that the reason for the drop is the recently stolen bitcoins are being sold and it's driving the price down, I expect the price to jump back up soon, In the meantime I will be getting some cheap hardware.
     
  28. Lorien

    Lorien [H]ardness Supreme

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    I liquidated 30 of my last 50 coins to Amazon gift cards (~$350 total) last week. I'm going to keep the last 20 in my wallet to see what happens down the road. I could've made more but it wasn't a bad run. Total profit $1200 liquid cash + $350 in gift cards after all expenses. Bitcoins themselves aren't going to die, it's the businesses around them that have faltered, hopefully security of those will be improved and it will take off again.

    Another possible scenario is that the new AMD cards coming out are massively faster and more efficient than what's currently available. This would make mining profitable again even at the lower price of bitcoins and the same story would repeat itself.

    P.S: I totally forgot about the stock market tomorrow, it should be interesting to watch what effect that has on bitcoins.
     
    Last edited: Aug 7, 2011
  29. Omegas

    Omegas [H]ardForum Junkie

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    The stock market should be interesting to watch reguardless.
     
  30. jimjam

    jimjam n00b

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    Is it true that bitcoin miners are making a significant impact on general AMD card prices? It seems kind of unlikely because the market for GPUs is pretty big.
     
  31. Shlomo

    Shlomo 2[H]4U

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    mybitcoin hack, dwolla being hard to deal with, mtgox glitches, bitcoin forum domain change, etc etc etc
     
  32. 4DoorGTZ

    4DoorGTZ Limp Gawd

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    I read somewhere that AMD did $460m of Graphics card sales.... not sure if thats for the quarter or if it was over the last year. Anyhoo you could do some guestimating, pick an average card, calc how many of them would be needed to fill the current network hash rate, then multiply by price and divide that into their figure. I'd be surprised if it was more then 3%.

    I do beleive though that Bitcoins have had a huge effect on the 2nd hand amd gpu market.
     
  33. WhoBeDaPlaya

    WhoBeDaPlaya 2[H]4U

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    You betcha. Have you seen the prices for 5 series cards (before this week's drop)?
    It got to a point where you could get a shiny 6950 2GB unlockable card for _less_ than the price of a 5870.
     
  34. Silent Knight

    Silent Knight [H]ard|Gawd

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    On the new card then it's not making a significant impact,true.But for the used HD5000 series,the priced went up due to high demand from miners.
     
  35. sethmo

    sethmo 2[H]4U

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    Not sure if AMD really made much more profit from Bitcoin miners in general, but resellers were able to get rid of old stock HD5000 cards far faster then they normally would have been able to :p

    Hopefully we can get some recovery in BTC this week. If it got up to $10/btc and held, I would be happy.
     
  36. Silent Knight

    Silent Knight [H]ard|Gawd

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    Have to stop mining until i can solve this shitty problem with CCC 11.6b.

    My PC has continously freezes with black screen.I thought that was the conflict between Bluray player with Afterburner or something like that.Removed all,still freezed seconds after log in my Windows account.Removed driver,no more freeze or black screen.

    Tried to reinstall 11.6,shit happened again.Now i have to wait more than 30 minutes to finish downloading CCC 11.5.
     
  37. cuongnq

    cuongnq [H]Lite

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    Bitcoin price will never up to $20 :(
     
  38. Stiletto

    Stiletto [H]ardness Supreme

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    Not while it's suffering from various problems(stolen coin sales, Tradehill dropping Dwolla, mybitcoin hacking, etc).

    You people really need to settle down. This was meant to be a multi-decade project. Mining has only been reasonably well known in the tech community for a couple of months. A LOT can happen in the coming days, weeks, and months.
     
  39. Piotrsama

    Piotrsama Limp Gawd

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    Go back to stock settings on GPU and CPU and test stability.
     
  40. flogge

    flogge [H]ard|Gawd

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    Nice. Simplecoin just got a ~3 day block while averaging something like 13 GHash. I've been getting a fairly large number of stales since I switched over. Was 10% at first and now my average is down to 4%. I got my second card today and have it running. Due to heat I'm going to keep my voltage low and limit my overclock. Right now I'm at 913 Mhz at 1.10 volt. I think I can drop that some more but haven't screwed with it yet.