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Bitcoin - Just read about it - Love any Advise.

Discussion in 'General Hardware' started by alexsalter3d, Mar 28, 2013.

  1. arknor


    Joined: Nov 22, 2005

    Posts: 35,607

    Location: Newcastle/Zurich

    yea you would be able to make more money going into the city centre and collecting 1ps and 2ps off the floor
  2. alexsalter3d


    Joined: Aug 11, 2012

    Posts: 124

    Location: West Sussex

    Thank you so much Kotu and a few others for your great advise and help. I wasn't expecting some of the other comments on such a respectable site as this, but I guess you just cant get away from tards no matter where you go haha.

    It's a very interesting concept.

    I have also looked into the newly released miners that were featured in one of the links above/ the new type thats pushing GPU out of the way.

    It's odd how I posted that link, yet then most of the comments preceding that are comments that were saying how its moving from GPU anyway.

    Which were worthless comments, as I'd already posted the link related to that topic and that technology, and if advised I'd buy that new technology anyway instead.

    Your idea of building a separate other PC is a nice idea as well. And could be fun!


    Some of the people here need to bare in mind that I am researching here, and it would take a lot more time and repeated explanations before I bother to decide to do this or something like this. ha.

    Some people need to realize that I would never spend my own money to do something like this lol.

    I was in a car crash last month and I found out yesterday its going to earn me 1750 pounds. So I'm playing around with the thought of what I can do with 'some' of that cash. Not like this area needed to be mentioned though.

    Thank you Kotu anyway and others. If it really did cost that much, it looks like I cant run it at home lol. I wouldn't be able to get away with it anyway they would notice the rise in that amount of bill.

    bit of a pathetic comment from nkata. I'm finishing my degree lol, so I have no need or time for a job. and apart from that I have my degree related job lined up for the coming September as well, which will pay me a nice amount that I have not received before, I am glad that my degree will reward me then for all my expertise and hard work, plus I shall have very few bills to pay. So you can enjoy sucking on that. Since then I'll have even more money to think about wasting on hypothetical ambitions. tard.
  3. Bumhug


    Joined: Nov 2, 2009

    Posts: 596

    But the PC he owns isn't going to be dedicated 100% to mining, the amount of time spent not mining needs to be taken into consideration. If he spends 12 hours a day gaming then it needs to be taken into consideration. Ok so will get some money back from his current card but there is still some investment needed and as you said the shift is away from GPU mining and with the butterfly labs miners about to start shipping in 6 months time those 2 7950's aren't going to be any good.

    Keep the PC the way it is and get one of these instead ;) https://products.butterflylabs.com/4-5gh-bitcoin-miner.html
  4. tom_e

    Man of Honour

    Joined: Dec 26, 2003

    Posts: 26,539

    Location: West mids

    Personal insults, well played sir.
    I'm glad I didn't bother with any useful advice.
  5. nkata


    Joined: Mar 1, 2010

    Posts: 7,259

    Location: Cheshire / Staffordshire

    Water off a ducks back mate. Hope your neck injury heals quickly.

    Should have realised from some of the OP comments that it was not worth getting involved in this thread.

    All the best, nkata.
    Last edited: Mar 28, 2013
  6. JonJ678


    Joined: Dec 22, 2008

    Posts: 10,361

    Location: England

    Curious development to the thread. What's your degree in?
  7. alexsalter3d


    Joined: Aug 11, 2012

    Posts: 124

    Location: West Sussex

    Thank you Bumhug that is exactly the type of reply I was intending for. and thanks to Kotu and a few others.

    Hey Jon. My degree is in , 3D Modelling and Digital Animation. :) And instead of going from this degree to Industry - I am going to teach my area of expertise at college and then university level in stead, since I feel I'd enjoy that more and get more rewards from that. I'd prefer to try and follow what I enjoy and makes me happy if I'm ever presented with the chance to do so, so I'm aiming for that whenever possible. I've already pre arranged where I'll be working, so 'when things fall into place' Whenever that may be, I'll have a nice income while working from my studio room at my parents. Which means I won't need to pay for my own accommodation, and I'll be able to pay and help out my parents with their house and other means, and at the same time save up my earnings for future deposits and stuff which will be combined with my partners. Thats the aim anyway. Who knows what may happen though haha.
    Last edited: Mar 28, 2013
  8. Geekazoid


    Joined: Jun 19, 2009

    Posts: 886

    Hi alexsalter3d i been looking through this thread and your replys and tbh mate your attitude stinks...

    The reason is many of these people are giving you sound advise and have been there and done it... No one will give you bad advise its just that when you hear something you dont like you cut those people down...

    Without spending thousands in hardware Mining for bitcoins on a personal level nowadays is like getting blood out of a stone there is no point in doing it... a few years back it was ok for personal mining but that boat has long passed...

    but if you still want to i wish you the best of luck...
  9. medseven


    Joined: Feb 25, 2011

    Posts: 182

    This thing... https://products.butterflylabs.com/homepage/4-5gh-bitcoin-miner.html

    The Bitforce Jalepeno seems to be a way better option than any card, according to this chart... https://bitclockers.com/calc

    It give's you 1000 Mh/s per Watt compared to most GPU cards giving you between 1-2 Mh/s per watt. It has a TDP of 4.5watts!

    It sill needs to be used with a host PC however, although seeing as it will be doing the computing itself I doubt that PC would need to at all that powerfull and could be low powered! Would be cool if they ran with linux, you could load linux onto one of those 'pc on a stick' USB dongle sized android devices and run it with that :p

    Although surely this new affordable hardware thats giving atleast 10 times the efficiency of any GPU suggests these coins will be farmed a great deal more efficiency than before.
    And I don't know any of the factors that decide the value of a bit coin, but I bet the cost of how much it costs to farm them is a huge factor!

    I bet with the release of every generation of new, more efficient farming hardware the same thing will probably apply, the only ones to make any real profit from it all are those willing to invest huge into the most efficient machines and earn back long term, with everyone else being squeezed out of any profit making at all!
    Last edited: Mar 28, 2013
  10. alexsalter3d


    Joined: Aug 11, 2012

    Posts: 124

    Location: West Sussex

    Hi there G. I have to disagree with you about my attitude.

    Its true I cut some people down, and its due to the language they may have used. Simple as that. And I'll carry on cutting.

    Apart from this - I like to learn from calculated mistakes. There isnt a single human that 'Only' Listens and never makes any mistakes. If I want to make 1 Dollar for free -Then help guide me along my path of experience - Which is what Kotu and a few others gladly did. And even then it only fed my knowledge, I have only speculated about spending money - Which I probably won't now that I have discovered another use for Bitcoins :D.

    Thank you so much for your research and help MedSeven. what a nice reply.
    Last edited: Mar 28, 2013
  11. Suarez7


    Joined: Oct 18, 2012

    Posts: 9,787

    Straight out of Uni into a teaching job at a college lol. It's hard enough walking out of Uni into a school or private training company.
    Last edited: Mar 28, 2013
  12. Puppetmaster


    Joined: Jun 17, 2005

    Posts: 6,319

    Location: Near Brighton

    Something else to consider is the health of your graphics cards. Someone at work runs his PC mining almost 24/7 (2x 7970) and while it makes him money, both cards have had the the fans fail. We work at a PC shop its easy to Rma stuff quickly but it can get annoying. The heat aspect was useful in the winter but in the summer its very hot and noisy. I run 2x 6970 under water so that isn't a problem but wc adds a lot to the cost.

    Another point is psu efficiency. If you plan to run it 24/7 for several years it might be worth getting a platinum psu. On my phone atm so can work it out or look it up
  13. Jokester


    Joined: Aug 7, 2003

    Posts: 38,993

    Location: Aberdeenshire

    Reading about the use of ASIC processors specifically configured for bit mining becoming increasing predominant it looks more and more like the days of mining on traditional PCs are coming to an end.
  14. alexsalter3d


    Joined: Aug 11, 2012

    Posts: 124

    Location: West Sussex

  15. valkynaz

    Wise Guy

    Joined: Dec 16, 2010

    Posts: 1,754

    You have gotten Mhash and Ghash mixed up. These purpose built miners supposedly start from 4.5 Ghash/s whereas individual cards cannot reach even 1 Ghash/second. You can only reach 1 Ghash/s when running cross/tri/quad fire set ups.
  16. alexsalter3d


    Joined: Aug 11, 2012

    Posts: 124

    Location: West Sussex

    Ahh I see. Thanks

    If these products are as good as people say. Then it does look like gpu method wont be doing very good.

    Only thing I may worry about now is how long will my new asic product be good for lol. But I presume, pretty long. I should be sensible and invest only in the 4.5 one, even though it would hinder my ability to acquire the 30 g/h one if I wanted it in the future. But nvm haha.
  17. Catanonia

    Wise Guy

    Joined: Mar 15, 2012

    Posts: 2,238

    Location: Santas Grotto

    Just joined this for a test for a few days and with the BitCoin -> £ @ around 60 thought why not.

    Ok so here is my details

    AMD 7950 O/C to around a 7970 and getting around 580 m/Hash/s : Confirms post above under 1gig hash.
    3930 O/C to 4.8 and barely gets over 20 mHash/s

    So confirmation of CPU's are rubbish for this, even with 12 threads running.

    At my rate with my 7950 running on a bitcoin mining pool, I am looking at about 1 BitCoin for 6 days continous running = around £60

    So that is 24/7 for 6 days electicity for my 3930K idle and 7950 at 100% @ 62 degrees for £60

    Dunno really, don't know what my PC is drawing from the wall in this state.

    Now if I bought a couple of those dedicated units and plugged them in at work :) mmmmmm
    Last edited: Mar 28, 2013
  18. Catanonia

    Wise Guy

    Joined: Mar 15, 2012

    Posts: 2,238

    Location: Santas Grotto

    Edit : Well it seems none of the dedicated units are actually reality yet :)

    The butterfly is 6 months late with loads of angry punters on the forums and the major other player Avalon 85gh System is suppose to ship in May. 85 G/Hash/s bejesus !!!!!

    The avalons are delayed as well, 1st batches still not shipped and all others are sold out. Some going on the bay for 6 - 7k each for pre orders.
    Last edited: Mar 28, 2013
  19. TwsT


    Joined: Feb 7, 2011

    Posts: 7,626

    Location: Stoke on Toast

    will be interesting to see if this asic machines will be worth buying once they ship or if the difficulty will increase too much due to all the extra miners
  20. medseven


    Joined: Feb 25, 2011

    Posts: 182

    If you read around a few forums, and you could probably check the data as well, the amount of processing being done on the bitcoin network is really risen loads lately.

    Makes you wonder with those buterfly lab productions said to start shipping end of march, do the company have them all tapped into the network during a 'test' phase!

    Come to think of it, if you could make the tech as cheap as they are selling it, why would you not keep it to yourself and just have a huge bitcoin farming network yourself!?