Nice Honeywell fan. Have the same one in white. Used to use it to help cool my old laptop.Quote:
Originally Posted by sonatine
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Nice Honeywell fan. Have the same one in white. Used to use it to help cool my old laptop.Quote:
Originally Posted by sonatine
Isn't this thing going to overheat in the closet?
Or do you leave the door open?
Also funny how BTC are trading for $372 on Mt Gox right now, yet somehow all the other markets are delusional enough to still trade it at $630.
No way I would buy any coins right now, until we see what happens with Gox (or the prices come closer together).
Quote:
Originally Posted by Dan Druff
When I had the two cards installed, cooling was a much bigger issue. So I had a fan pointing down and fan on the floor as well as a window cracked behind it. With the one card installed now, I have one fan on top pointing down to keep the ambient air refreshed and so far its working out swimmingly.
I dont know what Im going to do in summer but honestly with difficulty rising, who knows if its going to beat the electrical charges by then.
ill bet you had to run a electric cord from your grandmas trailer cause you couldn't pay your electric bill.Quote:
Originally Posted by Muck FiconNice Honeywell fan. Have the same one in white. Used to use it to help cool my old laptop.Quote:
Originally Posted by sonatine
fucking hillbilly. get a job, stop being a burden on society
Bitcoin proponents are hopeful the difference between bitcoins and a gift card is that merchants adopt reward systems for using bitcoins.
They're a doomed company. A lame analogy is that you also wouldn't try to take advantage of lock poker's 200% deposit bonus.Quote:
Originally Posted by Dan Druff
Pretty much been doing the same, have been mining Dogecoins about 60%-70% of the time as they're simply the most profitable... or were anyway till a couple of days ago.Quote:
Originally Posted by sonatineI tried to purchase about half a bitcoin some months ago in the interests of day trading these swings but between the %30 transaction fees just to get the fucking money to an exchange and the 3% per trade, I finally just said fuck it and let it ride on LTC and dogecoins, which I continue to mine.Quote:
Originally Posted by JUSTIFIEDhomicide
I consider none of it a viable long term strat and simply hope to get lucky and get out a house or two richer at some point and get out.
What I've been doing is selling the Dogecoions as soon as I mine them and divesting into other coins that are not so profitable to mine, and selling these when the price peaks. Have just switched over to mining Coino for the time being.
http://www.coinwarz.com/cryptocurrency is a good site to figure what's the best to mine.
I was thinking about building an open milk-crate rig with 6 x R9 290's but not so sure I will now.
My gaming/mining rig. :)
^wow
such amaze
I wish I had one of those :)
A Crowe Diddly post from page 1Quote:
Originally Posted by Crowe Diddly
Quote:
Originally Posted by Salty_Aus
I think this is a really sophisticated approach.
Im taking a longer term approach to dogecoin investment based entirely on their intrinsic capacity for attention whoring.
Sonatine and salty:
How much money are you making through mining per month? As I understood mining pools had sucked dry profitability from the average person.
Also, how significant are the dangers of from putting a nice gaming rig like that through mining? Will it significantly shorten its life?
You're running your video card at like 80-90% capacity 24/7. And my video card costs 4x the rest of the rig components added together. So there is a pretty solid expectation that its going to die much, much faster than normal.
I wouldnt advise mining anything right now honestly, for all the reasons I listed earlier in this thread. I jumped in on Dogecoin because Doge is Love but with a $750 card your profit comes to about $50 a month right now. Or a loss if BTC drags down the other currencies.
GPU fans are running at 80% and I've under-clocked the power to both cards to save electricity and keep the heat down. Memory is over-clocked to 6000 and core is 1060 (standard is 5800 @ 1000)Quote:
Originally Posted by BetCheckBet
Hashing @ 1.45MHS combined which is not the max, can get 1.55mhs with more power and higher speeds, but don't want to push the limit and create too much heat and waste power.
It's stinking hot here at the moment (today was 100F) but heat doesn't appear to be an issue as my case is really well ventilated, but still it's probably shortening the life of the GPU's to some extent. Heat is what kills them I reckon.
Currently making about $350-$400AUD per month just from mining, but I've been buying and selling coins and have been getting lucky. For example I accumulated a stack of Netcoins and got lucky netting about $2,000 last month. (could have been nearly $4,000 but the price dropped and I held them too long expecting/hoping the price would bounce back)
It varies, this last week the price has been shit, the two weeks before simply mining Dogecoins was making me $200AUD per week gross.
Mining pools are fine, I try and stick to those that only charge 1% fees and swap pools whenever other coins are more profitable. You really must mine in a pool less you have a really powerful mining rig to mine solo.
Only $50 per month?Quote:
Originally Posted by sonatine
The last week has been terrible for mining Dogecoins, but even with the really shitty return at the moment I can make $300AUD+ gross per month mining Dogecoins.
sorry, did you just say youre averaging 1.45mhz on a 290x gpu?
Nope. dual 7970's @ just over 700KHS for each one.Quote:
Originally Posted by sonatine
700mhz = about $115 a month.
- 45 a month to cover electrical costs, $70 a month.
I average about 600mhz in terms of real world average pool contributions on a 290x card, so yeah. $50-$60 a month.
I could probably spend significant effort adjusting clock speeds and finding a different pool and up my output maybe 15% but I am not a gay.
Quit nerding up this thread guys.
I tweaked my friends R9 290x last week and got it going @960KHS, I can get a R9 290 going at 880KHS.Quote:
Originally Posted by sonatine
At the current shitty rate for Dogecoins @ 1.45MHS I make $11AUD per day gross, last week I was averaging about $23AUD per day.
Here's the current daily USD estimate @ 1.45KHS from coinwarz.com. (just over $11AUD per day)
I'm drawing under 300 watts per card.
30 x $11 is $330 per month gross.
You can do way better then 600KHS with an R9 290x (900KHS should be minimum)
I think what you two are talking about is fascinating. You buy a super computer, figure out how to run it's components to the max, without crashing it, kind of like Nascar drivers. Your car is the single most important thing. You just have to know how to handle it to get to the finish line without blowing it up, and you will get paid. Not much right now, but if the coins were ever to blow up over night like btc did you will be heavily rewarded.
Like I said, I find it fascinating
Most likely why the world is full of hackers, and peppered with scammers.Quote:
Originally Posted by JUSTIFIEDhomicide
Quote:
Originally Posted by garrettMost likely why the world is full of hackers, and peppered with scammers.Quote:
Originally Posted by JUSTIFIEDhomicide
wat
Funny thing is, my set-up is really quite basic and is 12 months old.Quote:
Originally Posted by JUSTIFIEDhomicide
What I've been thinking about doing is a an open milk-crate mining rig only.
I've priced it right down to the last detail and I'm looking at a cost of $4,500AUD to run six R9 290's off a single motherboard with dual PSU's. (the R9 290's are $550AUD each)
This should hash @ about 5.3MHS and even at the current crappy mining rates would gross about $45AUD per day ($1,350AUD per month gross)
But I'd expect them to average more then this, soon as the BTC price picks up again I think you can comfortably add 50% to this estimate.
Even if mining completely goes to shit I should be able to sell the GPU's for at least $400-$450 each so it's not a huge risk.
MtGox at 312, but other exchanges in the 660s -- more than double!
A guy flew all the way to Tokyo to protest the situation and demanded to meet with MtGox executives (which was denied).
http://invezz.com/news/forex/8877-fo...r-302-on-mtgox
This is actually a good point. Why hasn't MtGox issued a statement assuring everyone that all of their bitcoins really still exist?Quote:
Despite the freezing temperatures, he today confronted MtGox’s CEO Mark Karpeles outside the exchange’s front door and demanded to withdraw his coins, but the answer was: “We can’t right now”. The most concerning thing is that Karpeles did not respond at all when Bruges asked him if the exchange still has everyone’s bitcoins.
“They haven’t answered anybody’s support requests, they seem to have just taken people’s money – they’ve taken my money”, opines the bitcoin trader. Burges says he’ll stay in Tokyo until next week, camping out at MtGox’s offices again if necessary.
They dropped to $220 not long ago on Mt Gox.Quote:
Originally Posted by Dan Druff
Gox has dropped $700 per BTC in less then two weeks. Other exchanges have only dropped about $200
I think it's fair to assume Mt Gox does not have all the BTC's that are in peoples accounts.
Last week I thought they did for sure but now I have big doubts.
On the other hand they could be pulling a rort, say nothing and buy up coins on the cheap.
Highly recommend changing your password on MT Gox. Got an email this morning that the following logged into my account:
IP traces back to China. I've since deleted my account as I don't use it anymore.Quote:
This is an email notification that your MtGox account has been logged-in to successfully.
Login Details:
Account ID: xxxxxxxxxx
IP Address: 114.80.91.181
User Agent: Mozilla/4.0 (compatible; MSIE 8.0; Windows NT 6.1; WOW64; Trident/4.0; chromeframe; SLCC2; .NET CLR 2.0.50727; .NET CLR 3.5.30729; .NET CLR 3.0.30729; Media Center PC 6.0; MAXTHON 2.0)
Connection Time: 2014-02-16 12:36:23 GMT
. Their reps response or lack thereof are about as an objective reason that something is wrong as it gets. There are probably many problems going on, but could one be that they were hacked and someone stole their bitcoins? Or these double transfers occurred leaving mtgox to cover the difference which they can't?Quote:
Originally Posted by Dan Druff
I know in crypto only exchanges it is a fraction of a percent. I haven't fucked with Gox in ages. 30% to get the money to an exchange is equally obsurd. No, it is far beyond it.Quote:
Originally Posted by sonatineI tried to purchase about half a bitcoin some months ago in the interests of day trading these swings but between the %30 transaction fees just to get the fucking money to an exchange and the 3% per trade, I finally just said fuck it and let it ride on LTC and dogecoins, which I continue to mine.Quote:
Originally Posted by JUSTIFIEDhomicide
I consider none of it a viable long term strat and simply hope to get lucky and get out a house or two richer at some point and get out.
My friend, you're getting some really really bad advice when you only found these #s as a way to do business. Some "buddy" must have tried to middleman you somewhere if you read/were told it costs anywhere near 30% to get your money on an exchange.
You will never get past your biases. The non-working phoney market has a price that is way off yet the functional markets are the delusional ones ?Quote:
Originally Posted by Dan Druff
You should do op-ed's for a Murdoch rag.
Curiously have you noticed that all doge pools seem to pay out like 40% under what they should pay? Maybe it is DOS .. Maybe I should have looked into p2p.Quote:
Originally Posted by Salty_AusPretty much been doing the same, have been mining Dogecoins about 60%-70% of the time as they're simply the most profitable... or were anyway till a couple of days ago.Quote:
Originally Posted by sonatine
What I've been doing is selling the Dogecoions as soon as I mine them and divesting into other coins that are not so profitable to mine, and selling these when the price peaks. Have just switched over to mining Coino for the time being.
http://www.coinwarz.com/cryptocurrency is a good site to figure what's the best to mine.
I was thinking about building an open milk-crate rig with 6 x R9 290's but not so sure I will now.
My gaming/mining rig. :)
Anyway, my point is don't trust coinwarz. It is a good place to look for the best things to mine but the results it displays can be way off.
Also I think anyone getting into the game is a bit ballsy at this point. Hardware prices are still overpriced and will be for some time. My local Frys still has no power supplies over 1k Watts, not to mention ATI cards. By the time profit is gone, any resale of these cards will be next to nothing. Summer is coming up if you aren't in Australia.. etc. goodluck..
How do you determine which will peak? Really, almost all altcoins have a general downward graph and I suspect that has a lot to do with the constant pressure of mining. It is an interesting approach you are taking but how do you figure out what is undervalued? With the exception of a few coins, the only peaks are due to being introduced to exchanges or pump and dumps.Quote:
Originally Posted by Salty_AusPretty much been doing the same, have been mining Dogecoins about 60%-70% of the time as they're simply the most profitable... or were anyway till a couple of days ago.Quote:
Originally Posted by sonatine
What I've been doing is selling the Dogecoions as soon as I mine them and divesting into other coins that are not so profitable to mine, and selling these when the price peaks. Have just switched over to mining Coino for the time being.
I had never thought about this but I suspect you'd want to look for coins that have the correct properties for a pump and dump. Certain coins due to various properties will be a lot more likely to be pump and dumped. You're always always better mining at the highest return on your rig and then buying them up off the open market from what I've seen.
Also, if you look for certain coins. I was able to make about 5 times the daily return in the first 3 hours off PandaCoin. And thats without holding so near 0 risk.
When I first posted Gox's statement about transaction malleability here, I asked if people thought it was true, partially true (meaning a true statement but not the whole story), or false.
I asked this because I personally believed it to be partially true, and that is looking increasingly clear.
Transaction malleability is a real thing, of course, but the question is why the other exchanges have dealt with it mostly unscathed, while Gox still has withdrawals disabled and a price that has slipped to about 38% of the other major exchanges.
Gox also refuses to answer any real questions, and most disturbingly, does not seem interested in providing any form of proof or assurance that they really have the bitcoins they claim.
Whenever a company or individual is accused of wrongdoing, and their response is either silence or vague/evasive statements, that's almost 100% indicative that they are guilty. If you are innocent, you shout it from the mountaintops and bend over backwards to show proof of your innocence. Gox is pretty much doing the opposite.
Perhaps transaction malleability is the whole story, but not in the way Gox wants everyone to believe. Perhaps they had a massive amount of bitcoins stolen that way, and now they're trying to stall, Full Tilt style, and hope enough time passes to where they can buy them back somehow. Maybe they are even hoping their own price crashes enough to where it becomes cheap enough to buy back a lot of coins from people, thus extricating themselves from the situation.
Gox has now sufficiently scared everyone to where they will never be trusted again. If withdrawals are ever enabled, there will be a mass exodus, with people transferring their coins elsewhere and never touching Gox again. This will also create a likely crash on the other exchanges, as you have to imagine that a lot of people will just want to sell their bitcoins and GTFO out of this whole mess. This will be compounded by the people who bought very cheap coins on Gox and simply want to cash out immediately for a nice profit.
Either way, this situation doesn't look good. Best case, Gox gets back on its feet, enables withdrawals, and you will see a mass transfer-and-sell-off occur, crashing BTC prices. Worst case, it comes out that Gox is broke and its bitcoins gone, creating a big wave of public distrust of bitcoin, again causing a crash.
I have never believed bitcoin to have a sustainable future in its current form. It just isn't possible. It's too fragile, too vulnerable, too tempramental, and too dangerous for the US government to allow to continue unchecked and unregulated. At one point I thought that the future of bitcoin would involve a highly regulated situation which resembles today's anonymous and uncontrolled BTC economy, but now I'm thinking that a few years from now, people will discuss bitcoin the same way we talked about disco in 1984.
I've noticed about 40% of ALL pools underpay to some degree, and perhaps 10% do it really bad.Quote:
Originally Posted by donkdowndonedied
Dogecoins for example I was with fast-pool for a while, I reckon they're ripping people off to the tune of about 20%-30% straight off the top... they had over 10,000 people mining so no way it can be variance. They charge 0% in fees to suck you in.
The coinwarz estimates are quite accurate, what you have to do is factor in how often the difficulty changes.
Also, don't look at the coins that have just had large difficulty changes if you want an accurate estimate.
A really good Dogecoin pool is www.doge.netcodepool.org
2% fees but this site does not steal a penny. Slight variance though with only 1,700 miners.
Good point, I like to get familiar with just a few coins that have history of highs and lows, still a crap shoot.Quote:
Originally Posted by donkdowndonediedHow do you determine which will peak? Really, almost all altcoins have a general downward graph and I suspect that has a lot to do with the constant pressure of mining. It is an interesting approach you are taking but how do you figure out what is undervalued? With the exception of a few coins, the only peaks are due to being introduced to exchanges or pump and dumps.Quote:
Originally Posted by Salty_Aus
I had never thought about this but I suspect you'd want to look for coins that have the correct properties for a pump and dump. Certain coins due to various properties will be a lot more likely to be pump and dumped. You're always always better mining at the highest return on your rig and then buying them up off the open market from what I've seen.
Also, if you look for certain coins. I was able to make about 5 times the daily return in the first 3 hours off PandaCoin. And thats without holding so near 0 risk.
Last week I was buying lottocoin, week before it was grandcoin and will buy more of these this week. I still kinda like netcoin for trading bands.
Another thing to consider is which coins will be newly traded on Cryptsy, whenever they hit Cryptsy they usually take off.
You're right though, tons of coins just lose value and never spike.
I should read more about it. If they skim 30-40% on a midsized pool, thats a nice little chunk of change.Quote:
Originally Posted by Salty_Aus
Well I researched 2 pools in reference to doge. one bein multipool and i seemed to be missing about 40% EV on both. At that point I stopped screwing with it, but my assumption is coinwarz doesn't take this 40% into account. Maybe it was just a matter of finding a better pool... I just went to a different multipool. Sonatine is probably right, about $50 a month for someone who doesn't fuck with it and mines 1 reasonable coin on a high end card. That'd definitely be on the low end though, but there is always the cost of one's time.
It is interesting that I specifically have avoided 0% fee pools because I just have to wonder why ? Seems like a red alarm. You'll never notice that 2% due to variance, so why risk being ripped off on a pool that has no sensible business model outside of cheating?
I have a FOAF who is converting his pool house into some GPU farm. lol.
It is a fascinating world. The whole concept of DACs or DAX or whatever you wish to call them. It might come to a complete halt but then it might provide some seriously crypto scifi services.
I don't understand how Druff can be so sure bitcoins will be outlawed. The US government couldn't really outlaw poker. Bitcoins will always be around in some form. Just like online poker. THats pretty much your worst case. Maybe they'll be $100 a piece, who knows. Maybe $5000 5 years from now. The more storms bitcoin weathers the more it proves its resiliency. Countries with currencies artificially pegged hate bitcoin more than all. Do we hear about Western countries outlawing bitcoin? No. A year ago you could argue all bitcoin was good for is gambling and drugs, but times have changed.
Many of the pools rip off the miners. Whenever I try out a new pool if I don't make close to what I expect I find another pool immediately.Quote:
Originally Posted by donkdowndonediedI should read more about it. If they skim 30-40% on a midsized pool, thats a nice little chunk of change.Quote:
Originally Posted by Salty_Aus
Well I researched 2 pools in reference to doge. one bein multipool and i seemed to be missing about 40% EV on both. At that point I stopped screwing with it, but my assumption is coinwarz doesn't take this 40% into account. Maybe it was just a matter of finding a better pool... I just went to a different multipool. Sonatine is probably right, about $50 a month for someone who doesn't fuck with it and mines 1 reasonable coin on a high end card. That'd definitely be on the low end though, but there is always the cost of one's time.
It is interesting that I specifically have avoided 0% fee pools because I just have to wonder why ? Seems like a red alarm. You'll never notice that 2% due to variance, so why risk being ripped off on a pool that has no sensible business model outside of cheating?
I have a FOAF who is converting his pool house into some GPU farm. lol.
It is a fascinating world. The whole concept of DACs or DAX or whatever you wish to call them. It might come to a complete halt but then it might provide some seriously crypto scifi services.
I don't understand how Druff can be so sure bitcoins will be outlawed. The US government couldn't really outlaw poker. Bitcoins will always be around in some form. Just like online poker. THats pretty much your worst case. Maybe they'll be $100 a piece, who knows. Maybe $5000 5 years from now. The more storms bitcoin weathers the more it proves its resiliency. Countries with currencies artificially pegged hate bitcoin more than all. Do we hear about Western countries outlawing bitcoin? No. A year ago you could argue all bitcoin was good for is gambling and drugs, but times have changed.
Some are incredible greedy, I mined some Fastcoin @ www.miningpool.co for one day
I should have earnt about 1,500 coins and only got 550'ish.
Didn't complain or make a big deal out of it, but I did Google them with keywords like cheat, steal, rip off and got tons of stories.
They're a pretty big set-up with nearly twenty sub-pools... and they're blatant cheats.
I wonder where Sonatine mines, big chance he's being cheated if he's seriously only making $50 per month... and 600KHS is a ridiculously low hash-rate for such a high end GPU, a HD7950 outperforms it and these were like $200 last year.
Is this Gox thing going to end badly? Looks a lot like FTP in 2010-2011
payments VERY delayed and at ftp that was sign of what was going to come
MT Gox to the bitcoiners of the world: "It was never your money, that's clear!"
https://www.youtube.com/watch?v=PngHldUW-Os
Quote:
Originally Posted by Dan Druff
Oh sure you didn't Druff. Sure you didn't. lol. Give us a fucking break now. You bought your .1 Bitcoin so you could be able to buy real Bitcoin in the future because you thought it would make you money. As usual you were late to the party and lost. Big surprise. Hang it the fuck up and never post about Bitcoin again.