Bitcoin - Just read about it - Love any Advise.

They reckon that already something like 30% of mines are done by ASIC units already so I wouldn't be surprised if they do extensive soak testing with them!
 
Just out of interest, why does a GPU achieve better hash rates than the CPU? I thought that the generally higher clock speed on a CPU and the overall design of the CPU would be more efficient at number crunching and processing numerical data than a GPU. What aspect of the GPU gives it a better capability for solving the mathematical problems required to bitcoin mine?
 
PhysicsMan94 said:
Just out of interest, why does a GPU achieve better hash rates than the CPU? I thought that the generally higher clock speed on a CPU and the overall design of the CPU would be more efficient at number crunching and processing numerical data than a GPU. What aspect of the GPU gives it a better capability for solving the mathematical problems required to bitcoin mine?
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http://www.tested.com/tech/pcs/1017-gpgpu-explained-how-your-gpu-is-taking-over-cpu-tasks/
Their parallel architecture makes them ideal for handling hundreds of similar computations at once, exactly the sort of work scientific simulations require. However, they're also incredibly suited for brute-force security exploration. Parallel processors can produce thousands of passwords or keys per second, which is why they've become an ideal engine for password crackers and decryption tools.
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With a bit of common sense I`d imagine those ASIC if existent are being used in small numbers at this time to make lots of money for those few people... Once they become public available, value of bitcoin is going to drop tremendously... So saying that you will earn a lot of money with that thing you purchase for 100 dollars isnt true... because once its released you wont be earning as much since you are not the only smart-ass in the world.
 
yea the companies with asic boxes would make far more money using them and keeping them from the masses.

The bitcoin difficulty increases with the speed at which coins are mined so once asic become mainstream it won't really be any faster than it is now
 
I have been investigating ASIC on the net b Avalon and the others. Public opinion is 50-50 whether it is a scam or not. All the people quoting they have one are dodgy to say the least and tend to post exactly the same thread on loads of forums word for word with only 1 or 2 post counts.

TBH, I am 50-50 as to whether it is a scam or not and I was very tempted to join the queue for shipping of a unit.
 
Catanonia said:
I have been investigating ASIC on the net b Avalon and the others. Public opinion is 50-50 whether it is a scam or not. All the people quoting they have one are dodgy to say the least and tend to post exactly the same thread on loads of forums word for word with only 1 or 2 post counts.

TBH, I am 50-50 as to whether it is a scam or not and I was very tempted to join the queue for shipping of a unit.
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I had a look at the Avalon site last night and it did scream scam site to me.
 
Jokester said:
I had a look at the Avalon site last night and it did scream scam site to me.
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All of them seem the same, novalabs is the worst. Claiming to ship out soon and the same guy posting on all of the sites the same message saying the others are rubbish and he recieved 3 units recently and is mining. No proof and no repsonses to the replies to his posts.

BTW : The CEO of Butterfly is a convicted conman too ;)
 
Well i have been mining with my 7950 for about 20 hours and accroding to the rate conversion, I have made a grand total of £2.80

That is with 7950 GPU only overclocked to 1240 and 1500. CPU makes bugger all difference and kills the GPU by 1/2 when run.

Is it worth it ???? Well a 7950 on an idle machine is pulling about 300w from the wall according to the net, so dunno as no idea how to work out the costs.

However my 20 hours in the pool have encountered some rubbish 7+ hour blocks, so that number may go up. I am guessing tops, £4 a day.
 
Lazder said:
Catanonia, you really are an aggressive human being arent you?

Seek help?
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no not really and apologies to Nick who seems to have posted in the wrong thread.

I come to this forum to share like minded activities, not really to listen to crap keyboard warriors which seems to happen a lot even in these specialist forum areas. I expect it in general, but not in these sections.

That said, this was a mistake and so apologies to all where needed.
 
No worries dude my mistake i got the wrong thread and the wrong forum, i was wondering why i wasnt getting hell from the guys at pistonheads lol
However after a quick read through this thread (which is what i was doing before i got side tracked into a heated debate with a minge on pistonheads) i still dont have the slightest idea what youre all on about but i must admit the hardware does look impresive.
 
Catanonia said:
Well i have been mining with my 7950 for about 20 hours and accroding to the rate conversion, I have made a grand total of £2.80

That is with 7950 GPU only overclocked to 1240 and 1500. CPU makes bugger all difference and kills the GPU by 1/2 when run.
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Lucky you, I made 80p gross :D I did 0.01 BTC in 24hrs, but this was with a GTX 570,
I've no AMD cards unfortunately.
Is it worth it ???? Well a 7950 on an idle machine is pulling about 300w from the wall according to the net, so dunno as no idea how to work out the costs.

However my 20 hours in the pool have encountered some rubbish 7+ hour blocks, so that number may go up. I am guessing tops, £4 a day.
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For easy calculation, if it was a constant 333 kW/h over 24Hrs and you pay 10p per kW/h, it would have cost you 80p in leccy.
 
hanluc said:
Lucky you, I made 80p gross :D I did 0.01 BTC in 24hrs, but this was with a GTX 570,
I've no AMD cards unfortunately.


For easy calculation, if it was a constant 333 kW/h over 24Hrs and you pay 10p per kW/h, it would have cost you 80p in leccy.
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Very useful and thanks. Haven't even got around to checking out the leccy price yet, just trying to get a crasp of how long it will take to earn a BitCoin.

Currently at around 0.17 bitccoins, not good at all considering it has been running for about 3 days total. Doesn't help that the difficulty is rising so much. But on the flip side, it has reached 107$ today !!!

Probably better off just buying some at a conversion centre and using that as an investment. But all the places you buy Bitcoins from want a handling charge to around 3 - 6%, so is that even worth it ??


Latest. About 72 hours continous running when you add it all up and about £12 made. (Based on todays price of £69 per bit coin)

I wanted another 7950 card, so suppose may as well get one :)
 
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