Crypto Currency.

Discussion in 'Off Topic' started by Dah_Hunter, Dec 4, 2013.

  1. AgentJ17

    AgentJ17 I'm an adult... man!

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    I have an AMD Radeon HD 7660G. Sounds like it will only yield a single LC or so per month on dedicated mining. But this is also my personal laptop. Might just look into trying out the whole thing on a simple, but dedicated, $500 rig.
     
  2. Dah_Hunter

    Dah_Hunter Looking over your shoulder, so you dont have to.

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    Im building a dedicated machine that should be able to mine 22 coins a month.. at todays rate thats around $750 a month.. not to bad at all.
     
  3. AgentJ17

    AgentJ17 I'm an adult... man!

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    Think it's worth building something around this?
     
  4. silent112

    silent112 Ryan

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    I just set up a bitcoin miner (I think?) I'll run this for a week or so and see if it's worth it. My laptop has heated up a bit since I started. I can see a desktop doing a better job, especially if you just set it up and forgot about it, only to turn it off when you play games it should work pretty good in the long run.
     
  5. IMPUL

    IMPUL Collector of fine japanese lawn ornaments

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    Where do Bitcoins come from? New Bitcoins are created in a process called "mining," which involves Bitcoin users attempting to figure out a complex mathematical solution related to the current number of Bitcoins. Grinberg compares it to finding the missing piece of a puzzle. Whomever finds the puzzle piece wins a certain number of Bitcoins, and the process starts all over again. Finding the Bitcoin solution involves an incredible amount of processing power, and so users often band together in "pools" in order to find the solution and to earn Bitcoins more regularly. However, there have been incidents where Bitcoin users have illicitly attempted to use other people's computers to mine Bitcoins. You can do this by hacking people's computers and telling them to mine Bitcoins. In one incident referenced by the FBI, a system administrator at a university in New York set its computers to mine Bitcoins for him.


    Taken from the mother jones link above.

    It underground money that's used by criminals to buy illegal goods and it untraceable.
    Aka silkroad.

    The creator disappeared? Something tells me this could be something like "diehard 4"
    People unwittingly helping a terrorist group undermined the system.

    And really if it is untraceable and unprotected it sounds like it be easier to do around hacking and stealing bitcoins then it would be to mine.

    Like someone's found a way to make other people do his dirty work in exchange for drugs and illicit items, as it doesn't really seem like there's a way to cash out only buy stuff.

    But people are handing him money. I bet he's laughing his ass off on some tropical island on a big pile of your cash.
     
  6. Dah_Hunter

    Dah_Hunter Looking over your shoulder, so you dont have to.

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    In Response to Agent, depends really i guess.. the coins we are mining could go up and down in Value.. So you could mine some coins and then the value go to .1 cents or something so then it wouldn't be worth it really. Also for the amount of power you use if you pay for your electricity, it might not be worth it..

    However if it stays at the current rate, then as i said i can mine around 22 a month that puts me at $700 ish.. cost of hardware is about $1000. so a month a bit and im paid off.. and if the value goes up.. great.. So if the Value goes down, do i loose.. not really cause the hardware im setting up is just a gaming computer.. So whatever if it goes down, i just have myself another high end gaming machine. that i can use and sell my old one..

    Thats how im justifying it. .

    IMPUL.

    i know a guys that work for in IT for the local Large university and are using the computers there for Mining.. :)
     
  7. Dah_Hunter

    Dah_Hunter Looking over your shoulder, so you dont have to.

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    WHat Video card does you laptop have..? what MHs hash rate are you getting.. most laptop video cards arent that great for doing this.

    is it worth it?
     
  8. silent112

    silent112 Ryan

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    The rating was 10Mhash/S, but last night I got around 5Mhash/S It's a Nvidia GT220M, It's a old laptop...

     
  9. Dah_Hunter

    Dah_Hunter Looking over your shoulder, so you dont have to.

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  10. lenglish

    lenglish Exiled Cult Member

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    I had never heard of bitcoins until they were mentioned on this site. I am beginning to understand the concept, but it is still really strange to me. Especially the whole mining process.
     
  11. AgentJ17

    AgentJ17 I'm an adult... man!

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    Sorry Ben, there was supposed to be a link in there. Apparently ctrl + v is beyond me. http://vancouver.en.craigslist.ca/van/sys/4217803431.html
     
  12. Dah_Hunter

    Dah_Hunter Looking over your shoulder, so you dont have to.

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  13. IMPUL

    IMPUL Collector of fine japanese lawn ornaments

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    now thats away to do this.
    other peoples eletricity, and a powerful network.

    also found this
    http://codinginmysleep.com/bitcoin-mining-in-plain-english/
    and this looks like one hell of a mining machine.
    https://www.btcguild.com/index.php?page=store

    i still dont get if the computer is just running a code generator or if you have to sit there and actively hack ?
    but by the sounds of it, it can just mineby itself.

    cost of equipment and cost of electricty seem to be the bottle neck of profitability.

    so 1. find a way to subsidize the electricity ... solar panels , or included utilities
    2. mine or sell stuff to get coins dont buy or save money there
    3. find ways to utilize the effects of mining, ie. the heat produced could be used instead of heaters
     
  14. Dah_Hunter

    Dah_Hunter Looking over your shoulder, so you dont have to.

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    All miners no matter how your running the, are Set it and forget it

    windows based just runs a scripts via DOS, and Linux are just in a terminal..

    so ya mining from a rental home where you dont pay for utilitys is the best option.
     
  15. IMPUL

    IMPUL Collector of fine japanese lawn ornaments

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  16. AgentJ17

    AgentJ17 I'm an adult... man!

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  17. Tudor

    Tudor Straight Ballin'

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    I've been looking into bit coins for a while now but one thing that still eludes me is how I cash these in?

    Also quite a large number of users of dark web sites have recently been scammed out of coins by what's seems to be the admins of the sites....so question is...when can you use these to buy stuff on legit sites like amazon?

    Edit: turns out some blenz coffee shops actually accept bit coins (or fractions of bitcoins)
     
  18. Dah_Hunter

    Dah_Hunter Looking over your shoulder, so you dont have to.

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    ya those cards are all good for mining..

    you can cash out on here:
    https://www.cavirtex.com/home

    or just go to the Bitcoin ATM in vancouver.
    http://www.vancouversun.com/100K+traded+through+Vancouver+Bitcoin+week+with+video/9145774/story.html

    in my case, with LTC coins.. i will mine LTC's then convert them to Bitcoin, and cash out.. or hopefully LTC gets popular enough i can cash out staight with them.
     
  19. mekazilla

    mekazilla Theoretician

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    middlecoin. pool mines for whatever is the best exchange rate to bitcoins. so one day litecoin, next bbq coin, next microsoft points or maybe even berries for that smurf app!
     
  20. Dah_Hunter

    Dah_Hunter Looking over your shoulder, so you dont have to.

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    thats cool very interesting.

    Soo the middle coin is the best bang for performance for sure.. i know the coins are taking a dive right now.. but since its a very minor investment for me.. im happy..

    If anyone wants to donate at BTC my way:
    1EvqdJBQ5oWuAVW8sZNYyAYgGxK3TvgFXw - BTC address

    or LTC
    LST9zD1ofmCFzTTdeDmqSGHDhkVjiYX9Hx

    Thanks.. Middle coin is bringing me in about $20 every 24 hours right now..