Cheapest rig for cross fired 5870's

stulid · 14 Jun 2011 at 18:44

So some random guy has invented a mathematical equation.

You crunch this to create something literally out of thin air thats has a value.

And someone will pay you for this?

Does the old saying "if its to good to be true, then it must be" not stir up any alarm bells?

d_brennen · 14 Jun 2011 at 18:47

stulid said:
still dont ******* get it

You and me both. It's bonkers and bound to crash, can't for the life of me understand why people are speculating with real $ for made up $! Out of curiosity I installed the GPU client and got bored of the noise after a couple of hours. Can't be good for your GPU either. If I wanted $20 extra a day there's a few other far more profitable activities I'd be at first.

I guess the technical appeal of Folding is there, maximising you output etc, without the altruistic benefits

R.C.Anderson · 14 Jun 2011 at 18:49

stulid said:
So some random guy has invented a mathematical equation.

You crunch this to create something literally out of thin air thats has a value.

And someone will pay you for this?

Does the old saying "if its to good to be true, then it must be" not stir up any alarm bells?

Thats basically the idea. There is always the risk that the whole system will crash, and bitcoins will be become worthless, however at the moment, you can make money (I sold 3 bitcoins for just under £40 a couple of days ago, and have the cash in my bank account now, and it cost me less than £10 in electrical costs, so not too bad)

ChrisLandin · 14 Jun 2011 at 19:23

RC what wallet ae you using? I tried bitcoin but its down. Any suggestions mate, I only ask as youve had success at transfering the cash. Cheers mate

R.C.Anderson · 14 Jun 2011 at 19:53

ChrisLandin said:
RC what wallet ae you using? I tried bitcoin but its down. Any suggestions mate, I only ask as youve had success at transfering the cash. Cheers mate

I leave the bitcoins in my account on deepbit until I'm ready to sell them, then I transfer them straight to Britcoin (where I sell them)

ChrisLandin · 14 Jun 2011 at 20:43

R.C.Anderson said:
I leave the bitcoins in my account on deepbit until I'm ready to sell them, then I transfer them straight to Britcoin (where I sell them)

Cheers mate

R.C.Anderson · 14 Jun 2011 at 21:22

ChrisLandin said:
Cheers mate

No problem, if you need a hand with anything else, feel free to message me through trust.

ChrisLandin · 14 Jun 2011 at 21:26

Will do.

On a side not just went upstairs cos the missus wants the blu ray player in the front room so decided to fire up my gaming rig for a bit of a blast at mining.

Nice and quiet cos its all under water but what a difference in speed between a hd5850 and a pair of 480's. Im not even getting half the speed of the ati card, its crazy. I even tried the cuda miner and still no difference.

R.C.Anderson · 14 Jun 2011 at 21:34

yea, it's rather insane how different it is. If I remember correctly, duel 590s give about the same hashrate as an OCed 5870

GoogalyMoogaly · 14 Jun 2011 at 21:58

Does this only work with newer graphics cards or would it work with the ATI 4000 series?

R.C.Anderson · 14 Jun 2011 at 22:04

GoogalyMoogaly said:
Does this only work with newer graphics cards or would it work with the ATI 4000 series?

Most of the 4000 series should work (excludes 42xx and mobile if memory serves), basically if it supports OpenCL, it'll work

opethdisciple · 16 Jun 2011 at 14:18

What is bitcoin, in a sentence?

TriedandTested · 16 Jun 2011 at 14:36

"Bitcoin is a peer-to-peer currency. Peer-to-peer means that no central authority issues new money or tracks transactions."

Zodar · 16 Jun 2011 at 14:42

And it's brilliant at that. I think a lot of the recent increases can be attributed to bitcoin becoming an adopted currency of various criminal elements for the ability to carry out anonymous transactions.

And no, it's not worthless because it has no inherent use other than as a currency. Paper money is exactly the same in that regard.

opethdisciple · 16 Jun 2011 at 14:49

Zodar said:
And it's brilliant at that. I think a lot of the recent increases can be attributed to bitcoin becoming an adopted currency of various criminal elements for the ability to carry out anonymous transactions.

And no, it's not worthless because it has no inherent use other than as a currency. Paper money is exactly the same in that regard.

But paper money gets its value against gold reserves.

Do you have to buy bitcoin currency in exchange for real money?

Zodar · 16 Jun 2011 at 15:32

opethdisciple said:
But paper money gets its value against gold reserves.

Do you have to buy bitcoin currency in exchange for real money?

There is no gold standard so stating paper money gets all its value from gold reserves is inane. It's like saying Bitcoins get their value from the personal wealth of the creator of the program.

Bitcoins can be generated yourself by mining or you can buy them for "real money". Or you can get bitcoins by trading for any other various assets. At the moment it's very popular since it's essentially untraceable so it can be used as a method of payment for black market items.

It wouldn't suprise me though if bitcoin gets attacked heavily by legislation in some form in the future.

Phill4321 · 19 Jun 2011 at 02:14

Hi all, what is the best way to sell the bitcoins? has any one got a step by step guide that's fool proof?

stulid · 19 Jun 2011 at 02:29

Phill4321 said:
Hi all, what is the best way to sell the bitcoins? has any one got a step by step guide that's fool proof?

Loads of answers here - http://forums.overclockers.co.uk/showthread.php?t=18281512