Bitcoin Discussion Thread Part 2

At least the difficulty didn't go up to the 244 that it was predicting about 2-3 hours prior to it kicking in. The value of litecoin still needs to go up proportionately...I know that's wishful thinking though...

I just have this nagging feeling that i should be mining bitcoins regardless of the ASICs/FPGAs/difficulty because they're simply so valuable and my electric bill is on the light side...

What is guaranteeing that litecoins won't take a nosedive? What is propping them up to what they are right now?
 
Found my first block! Of course I'm in a pool so it didn't count for anything more than if someone else found it.

 
I just have this nagging feeling that i should be mining bitcoins regardless of the ASICs/FPGAs/difficulty because they're simply so valuable and my electric bill is on the light side...

What is guaranteeing that litecoins won't take a nosedive? What is propping them up to what they are right now?

Mostly speculation... but the same is true of Bitcoin - the current price is not a result of natural growth. MtGox is supposedly adding support for trading LTC this month. Yes, there is a risk the value could plummet but I'd say chances are good it will go up.

At least LTC isn't like the other altcoins that have no value as a currency whatsoever, there are small e-commerce websites out there supporting it.
 
I posted a link to this wallet http://blockchain.info/address/13DRu4fXZ7gr8pykRVKwwStPUnUvfhMXJS in the troll box on btc-e and some guys sends me this pm lol!:

"is that your fukn wallet man? good god if it is, I'm trying to bring massive amounts of ayahuasca to america to fix the widespread neurosis. i made this vid on it. http://www.youtube.com/watch?v=mvU5ukIQiuE its the most potent psychedelic known to man hands down, and LEGAL in religious ceremony, cuz its more ancient than law itself. you actually dissolve out of physical reality and there's all kinds of noncorporeal beings, angels, aliens, elves. crazy shit man the catch is that it heals you of everything. cure for depression, etc. and it brings communities together better, and families an shit... anyway, I'm trying to make money to start a "religion" doing this, but I'm just losing money daytrading. we'll see I guess. anyway man, good luck to jah"
 
"is that your fukn wallet man? good god if it is, I'm trying to bring massive amounts of ayahuasca to america to fix the widespread neurosis. i made this vid on it. http://www.youtube.com/watch?v=mvU5ukIQiuE its the most potent psychedelic known to man hands down, and LEGAL in religious ceremony, cuz its more ancient than law itself. you actually dissolve out of physical reality and there's all kinds of noncorporeal beings, angels, aliens, elves. crazy shit man the catch is that it heals you of everything. cure for depression, etc. and it brings communities together better, and families an shit... anyway, I'm trying to make money to start a "religion" doing this, but I'm just losing money daytrading. we'll see I guess. anyway man, good luck to jah"

I wonder why :D
 
I posted a link to this wallet http://blockchain.info/address/13DRu4fXZ7gr8pykRVKwwStPUnUvfhMXJS in the troll box on btc-e and some guys sends me this pm lol!:

"is that your fukn wallet man? good god if it is, I'm trying to bring massive amounts of ayahuasca to america to fix the widespread neurosis. i made this vid on it. http://www.youtube.com/watch?v=mvU5ukIQiuE its the most potent psychedelic known to man hands down, and LEGAL in religious ceremony, cuz its more ancient than law itself. you actually dissolve out of physical reality and there's all kinds of noncorporeal beings, angels, aliens, elves. crazy shit man the catch is that it heals you of everything. cure for depression, etc. and it brings communities together better, and families an shit... anyway, I'm trying to make money to start a "religion" doing this, but I'm just losing money daytrading. we'll see I guess. anyway man, good luck to jah"

Lol that's awesome
 
I would advise against Crossfire. Complexity tends to create issues.

However:
1) Register a fresh worker on your pool's website
2) Set the new card up with cgminer settings as you did the first as a new worker utilizing the username/pw that you just made for it on the website

So I can just install the 2nd 7950 without hooking the 2 cards together? Not familiar with this at all.
 
Litecoin mining worth it? I just setup mining on several computers I have in the house for bitcoin mining but it seems like you could make almost twice as much with litecoins if i'm reading things right.

I'm on the verge of dropping some money on several video cards to plug in 4 computers. And the wife is on board. I just need to pay them off asap via my earnings. I was thinking some 7970's. Is it worthwhile to drop $2k on cards or would that be too risky?
 
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Depends on your tolerance for risk. If it's low, I would only spend the money if you determine you could make a profit with bitcoin at $50.

Even that's a bit of stretch. Usually when bubbles pop the price falls back to prebubble levels +a few percent if you're lucky.
 
Litecoin mining worth it? I just setup mining on several computers I have in the house for bitcoin mining but it seems like you could make almost twice as much with litecoins if i'm reading things right.

I'm on the verge of dropping some money on several video cards to plug in 4 computers. And the wife is on board. I just need to pay them off asap via my earnings. I was thinking some 7970's. Is it worthwhile to drop $2k on cards or would that be too risky?

Probably worth it... You are probably not making double.
I make $10/day on btc and $13/day on ltc ...

Make sure you have the client configured correctly and are not just returning stale...
 
Probably worth it... You are probably not making double.
I make $10/day on btc and $13/day on ltc ...

Make sure you have the client configured correctly and are not just returning stale...

I'm just running guiminer now. I've add some flags to it but I don't know if it's configured right. I seem to be getting the Mhash/s listed on the wiki for various video cards.

I am using the profitability calculator at bitcoinx. I'm assuming it's accurate. I pulled down the electricity costs from my local electric company.
 
damn, even Archer's jumpin on board. Guess we're popular again lol

Don't forget to add in if you are mining indoors and using the A/C to cool them ultimately. Those 2k watts of heat has to be dealt with some how, or how ever much you are using.
 
anyone know why if on the client its reporting a certain speed but the pool says your getting very little?
 
oh i see--and so it can fluctuate?
i changed between coinotron and notroll.in and both had this but after a while they both returned to normal

Most pools have scoring/payout methods that make them unhoppable or at the very least, fair payout to all miners (hoppers, steady miners, or others).

For example, the double geometric method works much like a capacitor. You have "charge" the capacitor with your shares before you start receiving the full, normal payout. If the capacitor is charged and you stop submitting shares, the capacitor will slowly release it's charge and pay you out for a period of time even though you aren't actively submitting shares.
 
Alright guys, I'm finally hopping on. 2 coworkers are going to build some mining rigs too. We arranged to purchase a bunch of 7950's.

We're reading up a ton on this to try and learn the ropes. I think we're going to join coinotron and mine LTC. It's tempting though to mine some BTC (enough to buy an avalon) and then switch gpus to mining LTC.

I do have a question though; are all guilds trying to solve the same block simultaneously?
i.e., the days est to solve a block is basically the probability of solving a block within that timeframe?

I've seen some smaller guilds that took 400-600 hours to solve a block, where the btc guild is solving blocks in <20 mins.

Does it matter which pool or guild to join for profitability's sake or just for consistent payouts ?

Also, we're still undecided on BTC or LTC, but I'm thinking do a little of both. I worry if BTC is going to crash, but not sure. With the amount of horsepower we're going to have, we should be getting a few btc per week.
 
cgminer --scrypt -o http://coinotron.com:8322 -u worker -p 1 --thread-concurrency 24576 --shaders 1792 --intensity 13 --worksize 256 -g 1

Just put the 2nd 7950 in and device manager only shows 1 card. Is that right?

Also do I need to change the above settings to have both cards going? Or do I run a second .bat file with some different setting for worker.2?

edit: I just put the new card in the top slot and the old card below and now the system sees both card. Can I get a WTF? Thanks for pointing me in the right direction with not using the crossfire cable.
 
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I've been getting IO errors on GUIminer on several different machines. When that happens mining stops. Oh it gives me an Mhash/s value but it doesn't fluctuate and it's not actually mining at all.
Any idea what would cause these IO errors? Sometimes it says job finished and then also stops. I'm using deepbit if it makes any difference.
 
I've been getting IO errors on GUIminer on several different machines. When that happens mining stops. Oh it gives me an Mhash/s value but it doesn't fluctuate and it's not actually mining at all.
Any idea what would cause these IO errors? Sometimes it says job finished and then also stops. I'm using deepbit if it makes any difference.

you browsing on these machines? I used to get this with hardware acceleration and flash
 
I know Iam super late to this, but was reading through a lot of posts and had a question. If these new asics are going to make gpu processing non-profitable, will these asics soon move to LiteCoin as well to mine more profits?
 
Got everything setup and can't figure out how to get both cards to be at the same voltage.

cgminer.conf has "gpu-vddc" : "0.962",

but one card shows 1.125v and the other shows 0.962v. I even apply the settings using trixx and the one card will jump up to 1.125v as soon as cgminer starts going. Any ideas?
 
are the two cards different? Take the 0.962v one out and try again.
 
Most newer cards disable voltage control. Many brands disabled voltage control on model numbers that had it at launch. From what I've seen there usually isn't any easy bios update to get voltage control back.
 
I know Iam super late to this, but was reading through a lot of posts and had a question. If these new asics are going to make gpu processing non-profitable, will these asics soon move to LiteCoin as well to mine more profits?

Litecoins need 64mb per core to mine (if I remember right)... A 7970 needs 2048 cores x 64mb each x (4 to 7) shares buffered . Asics will need an awful lot of ddr5 ram... I'd guess it will take some time to do this.
 
at the moment litecoin can't be mined by asics

Litecoins need 64mb per core to mine (if I remember right)... A 7970 needs 2048 cores x 64mb each x (4 to 7) shares buffered . Asics will need an awful lot of ddr5 ram... I'd guess it will take some time to do this.

Thanks for the reply's, So then its a matter of time all over again. Seems like an interesting and fun project to take on , however will need to do more research before investing in a rig.
 
*sigh* got the two 6950's in today but he didn't include the plugs for the unused inlet/outlet ports, and the water bridge for the two isn't going to fit next to my 7970.. I'm going to have to use barbs and hose to chain the 3 together.. it'll probably be next week before I can do anything with the new cards.
 
Ive been fighting my new mining rig build all day. Got the parts installed by 2 and its now 11pm. Everytime I go to enable crossfire I get a BSOD and its really unstable with all four cards installed. I've reinstalled windows nearly half a dozen times....just finishing up the last round going with the bare basics and adding piece by piece to either break the cycle of bullshit or find the broken link...hopefully I can get it mining tonight....
 
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