Bitcoin mining

arknor · 7 Apr 2013 at 16:59

I can't ever see shops or normal businesses having Bitcoin as a form of transaction.

theres a website that lets you order from papajohns pizza

Chrisoldinho · 7 Apr 2013 at 22:30

Addicted said:
Which pool is that on?

Tried quite a few but currently give-me-ltc, good return on PPLNS and stratum servers, currently under 1.5% stale/invalid at present.

I'm running 2 HIS 7950 IceQ Turbo's, but I have flashed the BIOS's with the none boost edition so I had control over the voltage. I then lowered core voltage to .950 which is what it idles at, managed to keep the core clock at 925, and overclocked the memory slightly to 1350 but reduced the mvddc to 1.5.

Especially with Litecoins it's about maximizing efficiency and finding the sweet spot for khash/s, my settings are:-

Thread concurrency: 21712
Vectors: 1
GPU threads: 1
Worksize: 256
Intensity: 18 (any above this and it fails, due to running a low vcore)

GPU1 is good for 510khash/s, GPU2 is good for 520khash/s.

I could and have pushed them to 600 khash/s but the power consumption would have been an extra £1 a day, and severely increased stress on components.
This way, everything stays nice and cool and I maximize component longevity and power savings, it's also my gaming rig so I don't want to fry it!

I could have also used my FX-8350 as that's good for 70khash/s but again power consumption makes it uneconomical.

If Mt.Gox support Litecoins soon as the speculation indicates, prices will soar IMO.

HTH,
Chris.

zuludawn · 7 Apr 2013 at 22:37

Im sure gaming machines are no good for Litecoins, xfire 7970 XFX @1125 -1575 getting 1279 khash/s.
Just wondering how long it would take to melt the whole rig with temps of mid 80`s 24/7, that was on (low usage) as well.

Well i just wondered now i know.

Jono8 · 7 Apr 2013 at 22:42

arknor said:
theres a website that lets you order from papajohns pizza

Well thank god for that

Chrisoldinho · 7 Apr 2013 at 22:49

Nerusy said:
So if **** hits the fan then there's going to be huge demand for currency that is not a legal tender anywhere in the world and relies solely on goodwill of few places to accept it?

My view is that the exact opposite will happen if **** hits the fan, bitcoin will crash.

zuludawn said:
Im sure gaming machines are no good for Litecoins, xfire 7970 XFX @1125 -1575 getting 1279 khash/s.
Just wondering how long it would take to melt the whole rig with temps of mid 80`s 24/7, that was on (low usage) as well.

Well i just wondered now i know.

Undervolt it, and don't run overclocked settings. Depends on your cooling solution, see my post above. Decent khash/s there though, if you were mining for Litecoins

Addicted · 7 Apr 2013 at 22:56

Chrisoldinho said:
Tried quite a few but currently give-me-ltc, good return on PPLNS and stratum servers, currently under 1.5% stale/invalid at present.

I'm running 2 HIS 7950 IceQ Turbo's, but I have flashed the BIOS's with the none boost edition so I had control over the voltage. I then lowered core voltage to .950 which is what it idles at, managed to keep the core clock at 925, and overclocked the memory slightly to 1350 but reduced the mvddc to 1.5.

Especially with Litecoins it's about maximizing efficiency and finding the sweet spot for khash/s, my settings are:-

Thread concurrency: 21712
Vectors: 1
GPU threads: 1
Worksize: 256
Intensity: 18 (any above this and it fails, due to running a low vcore)

GPU1 is good for 510khash/s, GPU2 is good for 520khash/s.

I could and have pushed them to 600 khash/s but the power consumption would have been an extra £1 a day, and severely increased stress on components.
This way, everything stays nice and cool and I maximize component longevity and power savings, it's also my gaming rig so I don't want to fry it!
I could have also used my FX-8350 as that's good for 70khash/s but again power consumption makes it uneconomical.

If Mt.Gox support Litecoins soon as the speculation indicates, prices will soar IMO.

HTH,
Chris.

What sort of return do you get at 1Gh/s out of interest then?

And why not mine BTC instead of LTC, I assume you're hoping LTC will soar in price?

Also I tried give-me-ltc.com earlier - I always get rejected shares?

flinco · 7 Apr 2013 at 23:10

The price of 1 BC on mtgox this morning was 92.25, now it is 101.88. Kerezzaay!

Mercutio · 8 Apr 2013 at 02:28

Currently at $166 and rising...

For the price of one of the asic machines (£200ish) you'd be in profit inside a month (with the miner attached to a lower power box you'd leave on anyway eg the HP microserver acting as a NAS).

Have a friend bought the 4.5 G/hash machine from butterfly labs, joined a pool and already at .5 bitcoins after 2 days (so $40 a day) but seems to have slowed down at the moment.

Edit: currently trading at $170, I'm watching https://www.tradehill.com/?r=TH-R111904 which isn't one of the main exchanges but at least gives an idea of the prices.

Silent UK · 8 Apr 2013 at 05:07

hanluc said:
Join a ltc mining pool (I'm with give-me-ltc)

Download GUIMiner-scrypt and enter your mining pool's sever details and your username.

more in depth guide

.. just thought you'll need to download a wallet from the litecoin site to send your payments to.

I seem to be getting a connection error when trying to start after doing the above?

iviv · 8 Apr 2013 at 07:43

Nexus said:
That's what I was trying to understand about this Bitcoin thing.

I can't ever see shops or normal businesses having Bitcoin as a form of transaction. I do see though that as others have pointed out, that Bitcoin is popular for unscrupulous transactions for the lack of accountability.

Surely though, anyone who is buying coins to buy whatever kind of material they do, there is only ever going to be so much they are willing to pay to buy coins to then purchase what they require. So its going to reach a stage where these coins are worth more than people want to buy them for.

The price is also so incredibly volatile that you would need almost real time price changes to ensure that you make a profit and don't get screwed over by a sudden price drop. Equally, any shops that do accept them will simply be taking the money straight to an exchange to get money they can actually use to pay for their stock in the first place.

doodah · 8 Apr 2013 at 08:02

Silent UK said:
I seem to be getting a connection error when trying to start after doing the above?

Ditto.

hanluc · 8 Apr 2013 at 08:17

Silent UK said:
I seem to be getting a connection error when trying to start after doing the above?

xibinim said:
Ditto.

These are my settings for give-me-ltc

I use the stratum server for less stale/invalids, select your card from the GPU drop down menu. The password is your worker password at the give-me-ltc site, "my account - myworkers" .. set it there

EDIT .. well that server has just stopped working for me

there's a notice on the front page about them having problems with it.
Alternatively use, host: http://pool.give-me-ltc.com, port: 8080, use stratum: no

.... Stratum back working again.

Addicted · 8 Apr 2013 at 08:48

Mercutio said:
Currently at $166 and rising...

For the price of one of the asic machines (£200ish) you'd be in profit inside a month (with the miner attached to a lower power box you'd leave on anyway eg the HP microserver acting as a NAS).

Have a friend bought the 4.5 G/hash machine from butterfly labs, joined a pool and already at .5 bitcoins after 2 days (so $40 a day) but seems to have slowed down at the moment.

Edit: currently trading at $170, I'm watching https://www.tradehill.com/?r=TH-R111904 which isn't one of the main exchanges but at least gives an idea of the prices.

That won't work though, because if/when the ASIC machines are released, everyone will have them, making it no easier than it was before to get BTC.

NathanE · 8 Apr 2013 at 08:54

If you're mining coins and have spent less than £500 on GPU hardware then to be honest I wouldn't consider the possibility of the bubble bursting to be all that worrisome. Especially if you can recoup your £500 investment before that bubble bursts. People blow £500 on far sillier things that that, ones that have no chance of ever making them any money. The bubble burst risk is more relevant to those who are actually buying BitCoin, er, coins. Rather than mining them.

hanluc · 8 Apr 2013 at 09:00

NathanE said:
If you're mining coins and have spent less than £500 on GPU hardware then to be honest I wouldn't consider the possibility of the bubble bursting to be all that worrisome. Especially if you can recoup your £500 investment before that bubble bursts. People blow £500 on far sillier things that that, ones that have no chance of ever making them any money. The bubble burst risk is more relevant to those who are actually buying BitCoin, er, coins. Rather than mining them.

Couldn't agree more, plus there's the resell value of you hardware. I have for years spent money on hardware for various DC Projects (see my sig) and used a lot of electricity for no reward whatsoever, this is a no-brainer for me.

NathanE · 8 Apr 2013 at 09:17

hanluc said:
Couldn't agree more, plus there's the resell value of you hardware. I have for years spent money on hardware for various DC Projects (see my sig) and used a lot of electricity for no reward whatsoever, this is a no-brainer for me.

There is the electricity angle to it, of course. But it seems to me the potential rewards far exceeded that deduction quite some time ago. From what I can see the potential rewards from BitCoin make more financial sense than, for example, betting on a horse race or football match.

It's basically a case of taking a punt on something. And if it turns out bad then it's more a case of "ahh shucks, nevermind" than "fuuuuuuuu I literally cannot afford to eat now".

Addicted · 8 Apr 2013 at 09:42

NathanE said:
There is the electricity angle to it, of course. But it seems to me the potential rewards far exceeded that deduction quite some time ago. From what I can see the potential rewards from BitCoin make more financial sense than, for example, betting on a horse race or football match.

It's basically a case of taking a punt on something. And if it turns out bad then it's more a case of "ahh shucks, nevermind" than "fuuuuuuuu I literally cannot afford to eat now".

Exactly, hence why I'm looking for another 79*0 card

doodah · 8 Apr 2013 at 09:58

If your GPU isn't on the GUIMiner list - game over? I have a 4870 1GB which apparently can do around 90Mhash/s

Though I guess my 4870 is roughly comparable to a 5770 which is on this list.

hanluc · 8 Apr 2013 at 10:07

xibinim said:
If your GPU isn't on the GUIMiner list - game over? I have a 4870 1GB which apparently can do around 90Mhash/s

Though I guess my 4870 is roughly comparable to a 5770 which is on this list.

They are just recommended settings, you can use whatever settings you like. Check the hash rate and see what gives you the best.

doodah · 8 Apr 2013 at 10:08

If only I could install a decent GPU on one of these work computers........