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Bitcoin Discussion Thread

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I mined enough Namecoins in ~20hrs @ 290mhash/s to trade for 1 BTC. Far faster than how fast I was mining Bitcoins :)

For those wanting faster payouts, look into mining Namecoins, then trading Namecoins for Bitcoins.

Now to just keep mining and sit on my BTC until the BTC$ goes back up :)

www.bitparking.com
http://exchange.bitparking.com
 
Yeah your mhash is lower then mine but you have more BTC to show for it. I rather mine for namecoin and then trade for BTC. Please a guide would be appreciated. Aren't the difficulty blocks lower for namecoin so wouldn't it be better to start an [H] Pool doing namecoins? and then just trading for BTC.
 
Use your regular Bitcoin miner client. I setup a Namecoin address on exchange.bitcoin.com, just have to create a new one every time you withdrawl your Namecoins from bitparking.com/pool It explains how the Namecoin address' work on the exchange.bitparking.com website.

Or you can setup a Namecoin wallet/address locally, similar to Bitcoin
http://dot-bit.org/InstallAndConfigureNamecoin

The current difficulty rate is much lower for Namecoins, it is currently 3767. Not sure how long Namecoins will stay around, but it is a cool concept.

[Edit]
Quick tutorial. bitparking.com is Namecoin mining pool.

Setup Namecoin mining:

1) Download/install your prefered Bitcoin Miner, I currently use Phoenix

2) Setup your Namecoin address with either:
a) Local Permanent Namecoin address/wallet: Follow instructions here:
http://dot-bit.org/InstallAndConfigureNamecoin

b) Remote Namecoin address/wallet: One time use(once you deposit using this addres, you need to create a new one and update your mining client):
http://exchange.bitparking.com

3) Setup the flags in your miner client. Simply follow the directions on the bitparking.com website and start mining.

4) Once you have Mined enough Namecoins and depositted them to exchange.bitparking.com, You can simply trade your Namecoins for Bitcoins on the 'Trade' tab. There is a calculate fees button which will tell you currently how many BTC your NMC are worth before you sell.

5) Profit
 
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Crap seems confusing with all the command line. Anyway to tune the guide using like guiminer? Its so damn easy to use. As well as creating the address/wallet. And if possible compare it to setting up a BTC Guild account. This seems like there are a LOT more steps.

How many logins will I have to make total to make namecoin work?
 
I see that the remote Namecoin address at http://exchange.bitparking.com/ will only accept deposits for 48 hours from the time of creation so what happens if you leave your miner running for 3 days on that one original address you created? Will you just lose all your work since you can't withdraw after 48 hours?
 
Here are a couple of windows gadgets to monitor your workers, pool mining stats and Mt.Gox so you don't break your mouse or keyboard refreshing the pages :D
If you feel paranoid you can check the source code yourselves, gadget files are nothing but zip files.

JadeBitCoinGadget
http://forum.bitcoin.org/index.php?topic=14307.0
basicview.png
workerview.png
settingsview.png


If that one is too big, then you can use this other one,

Minerstats:
http://www.bitshift.io/minerstats/
http://forum.bitcoin.org/index.php?topic=7071.0
deepbit.png
slush.png

settings.png


Hope someone finds either of them useful.
 
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burningrave101 said:
I see that the remote Namecoin address at http://exchange.bitparking.com/ will only accept deposits for 48 hours from the time of creation so what happens if you leave your miner running for 3 days on that one original address you created? Will you just lose all your work since you can't withdraw after 48 hours?
Click to expand...

Yes. Once that address closes there I don't think there is anything you can do about it, whatever work you had under a certain key will be lost.

As long as the hash rate can offset the difficulty, namecoins seem viable, but the exchange rates have also been dropping there. Maybe it will be offset by all the people who have been flocking there in the past few days, as long as some are buyers.
 
*Edit: And I found it not 20 seconds after posting this. On slush's pool you go to "manage account" then on the top it says Manage API tokens. Click that, copy the token into the gadget (or wherever you need it) and poof!
Oops :p

Lorien said:
Here are a couple of windows gadgets to monitor your workers, pool mining stats and Mt.Gox so you don't break your mouse or keyboard refreshing the pages :D
If you feel paranoid you can check the source code yourselves, gadget files are nothing but zip files.

JadeBitCoinGadget
<cut for space>

If that one is too big, then you can use this other one,

Minerstats:
<cut for space>

Hope someone finds either of them useful.
Click to expand...

Forgive me for being dumb, but where do i get my pool "API Token"? Google keeps pointing me to the first two posts of the gadget thread and they don't say :(

Thanks in advance!
 
Kueller said:
Not as far as I could tell on my 6950. 300mem or 1400mem, wattage didn't fluctuate more than about 5w or ~1.1% for the whole system at the wall. Maybe it saves power on some cards, but it doesn't seem to help my 6950 at all.
Click to expand...

Check your actual memory speed in the graphs in Afterburner. I've found that trying to set the memory lower than 800 on my 6950 doesn't actually work and resets the memory speed to stock.
 
switched to deepbit.net from bitcoinpool, hoping to get better payouts i.e more
 
sethmo said:
I mined enough Namecoins in ~20hrs @ 290mhash/s to trade for 1 BTC. Far faster than how fast I was mining Bitcoins :)

For those wanting faster payouts, look into mining Namecoins, then trading Namecoins for Bitcoins.

Now to just keep mining and sit on my BTC until the BTC$ goes back up :)

www.bitparking.com
http://exchange.bitparking.com
Click to expand...

getting namecoin client setup all i saw was a linux howto and rather complicated, too much so with something so potentially valuable.
 
gigatexal said:
getting namecoin client setup all i saw was a linux howto and rather complicated, too much so with something so potentially valuable.
Click to expand...

my buddy is hashing at 325MH/s and found 2 namecoins yesterday :eek:, it's much more profitable than bitcoins right now as that would translate to more than 1BTC and his rig only hashes about 0.5BTC/day...
 
wol-va-rine said:
my buddy is hashing at 325MH/s and found 2 namecoins yesterday :eek:, it's much more profitable than bitcoins right now as that would translate to more than 1BTC and his rig only hashes about 0.5BTC/day...
Click to expand...

huh?

2 namecoins = ~ 0.03 bitcoins
(at time of writing)
 
Do you guys get a lot of stale/invalid shares using Phoenix to mine Namecoins? At the moment I've got 2839 accepted shares and 171 stale/invalid which seems high compared to what I've been getting with bitmining.
 
Another rally underway, up to $24 from a low of $10.25 yesterday :D

P.S: Maybe Silk Road is back up and running.
 
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This is fucking insane. I've never seen a market where you're practically guaranteed 50% swings each day. It's a total lottery though. But man, you can both win and lose very big.
 
Seriously crazy. I thought about buying some BTC with my own cash last night when it went so low. I should have.
 
I just thought of a fucking brilliant idea...not sure if it's going to work though and I won't be able to test it until Dwolla verifies my bank account. It's going to take 2-3 days...FML. There's quite the loophole I just discovered in trading bitcoins.....in fact, I'm sure other people are abusing it. The loophole will go away though pretty soon - as soon as we get a REAL exchange.
 
computerpro3 said:
This is fucking insane. I've never seen a market where you're practically guaranteed 50% swings each day. It's a total lottery though. But man, you can both win and lose very big.
Click to expand...

You can't really lose with mining, at least until the Bitcoin goes under a couple dollars, then it might not be efficient to mine.

But buying BTC with physical cash is a huge gamble.
 
computerpro3 said:
I just thought of a fucking brilliant idea...not sure if it's going to work though and I won't be able to test it until Dwolla verifies my bank account. It's going to take 2-3 days...FML. There's quite the loophole I just discovered in trading bitcoins.....in fact, I'm sure other people are abusing it. The loophole will go away though pretty soon - as soon as we get a REAL exchange.
Click to expand...

You're probably thinking the same thing I already did. Since its such a small market and its dictated by the last sale, 2 people driving them up artificially wouldnt be hard.

For people that would like this to remain stable for as long as possible, though, screwing with the market is a baaaad idea.
 
Chihlidog said:
You're probably thinking the same thing I already did. Since its such a small market and its dictated by the last sale, 2 people driving them up artificially wouldnt be hard.

For people that would like this to remain stable for as long as possible, though, screwing with the market is a baaaad idea.
Click to expand...


There are "market makers" in BTC (ie: early adopters) just as in any market, when they buy or sell everyone feels the wave.

Yes there are things you can do with this. :)
 
Chihlidog said:
You're probably thinking the same thing I already did. Since its such a small market and its dictated by the last sale, 2 people driving them up artificially wouldnt be hard.

For people that would like this to remain stable for as long as possible, though, screwing with the market is a baaaad idea.
Click to expand...

Nope, I found a way better idea. The thing is, it's so simple that I don't understand why people haven't been doing it already. It's absolutely nothing revolutionary. That's why I'm not 100% confident it will work. It's just something that you can't really do in the non-bitcoin market (for a couple of reasons), but you can do in this market.

Like, it would literally be 100% guarantee of profit. Not even 1% risk.
 
computerpro3 said:
Nope, I found a way better idea. The thing is, it's so simple that I don't understand why people haven't been doing it already. It's absolutely nothing revolutionary. That's why I'm not 100% confident it will work. It's just something that you can't really do in the non-bitcoin market (for a couple of reasons), but you can do in this market.

Like, it would literally be 100% guarantee of profit. Not even 1% risk.
Click to expand...

Im perfectly content to let my gpu run and accumulate stuff I can then trade for upgrades. But good luck :)
 
Lorien said:
Another rally underway, up to $24 from a low of $10.25 yesterday :D

P.S: Maybe Silk Road is back up and running.
Click to expand...

Sweet, hit on an Ask I had in at 24.99 for 10 coins I bought at about 12. So that's about 1.5 5830s paid for. :D
 
Speaking of 5830s, how is Diamond as far as video cards go? I found some 5830s for about 140 shipped and was debating getting one.
 
How long does it take to actually get your bitcoins after purchasing them at mtgox? What's the confirmation period?

If I send bitcoins to mtgox, do they get deposited instantly or is there another waiting period?
 
Parja said:
Sweet, hit on an Ask I had in at 24.99 for 10 coins I bought at about 12. So that's about 1.5 5830s paid for. :D
Click to expand...

Yeah but this bitcoin shit has no real value man. Like, I'm telling you, it's all bits with nothing backing them up man. And they travel on the internet which is nothing but a series of tubes. It's all out there man. Man.


adammolens said:
is bit coin even safe?
Click to expand...
https://en.bitcoin.it/wiki/Introduction
[ame="http://www.youtube.com/watch?v=Um63OQz3bjo"]YouTube - &#x202a;What is Bitcoin?&#x202c;&rlm;[/ame]
more safe than paypal?
Click to expand...
Fuck paypal
 
Chihlidog said:
I just landed a 2nd 5850 on CL for $125. SCORE!
Click to expand...

true story...

wol-va-FAIL searches CL for "5850", finds an ad 2 months old for a complete rig with two 5850s, wol-va-FAIL emails dude and asks how much for one of the 5850s in his rig, dude responds and says he's not selling just one, either take both for $220 ( :eek: ) or none at all, wol-va-FAIL tells him this week he can only buy one (bills were paid leaving little disposable wol-va-income), if he can wait until next week wol-va-FAIL can snag both, he says okay and leaves wol-va-FAIL his phone #...

wol-va-FAIL calls a few days later because he has a friend that has agreed to float wol-va-FAIL the extra cash for the trade, in his retardery wol-va-FAIL has inadvertently reminded dude to REPOST his sale on CL...the cards are gone already...

FML...

wol-va-FAIL is now extremely wol-va-SAD and not wol-va-GH/s...
 
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