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 HighTek
A FunkyPhoenician
 
Registered: 03/22/07
Posts: 1,025
Loc: In your pants.
Last seen: 15 hours, 15 minutes
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 Re: About mining Bitcoins (the deep web currency) [Re: Baby_Hitler]
#15798634 - 02/12/12 03:23 PM (3 months, 14 days ago) |
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Its not recommended you keep your bitcoins in one e-wallet. Multiple accounts with varying amounts. Plus, I hear you can create an e-wallet on an encrypted USB drive. That seems much safer than on the deep web itself.
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Burbles
Stranger
Registered: 03/24/08
Posts: 793
Last seen: 1 month, 25 days
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Re: About mining Bitcoins (the deep web currency) [Re: HighTek]
#15848533 - 02/22/12 04:10 PM (3 months, 4 days ago) |
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10 days old.. whatever.
This: https://tails.boum.org/
Use that to view... best option... most anon, etc
Tails is a live CD or live USB that aims at preserving your privacy and anonymity.
It helps you to:
use the Internet anonymously almost anywhere you go and on any computer:
all connections to the Internet are forced to go through the Tor network;
leave no trace on the computer you're using unless you ask it explicitly;
use state-of-the-art cryptographic tools to encrypt your files, email and instant messaging.
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http://vesp.co/118 <== What ever could this be? Oh Snap!
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 DieCommie
El Guapo
Registered: 12/11/03
Posts: 22,841
Loc: Street of Dreams
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Re: About mining Bitcoins (the deep web currency) [Re: Burbles]
#15850257 - 02/22/12 10:00 PM (3 months, 4 days ago) |
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Mining is not profitable on my PC. But my electricity is pretty cheap from what I gather.
This could be a game changer, http://www.butterflylabs.com/products/
With the Single they have there, I calculate I can break even in less than a year. I can net ~10% in a year, at the current exchange rate which is a little high I think.
Still, Im having a hard time not pulling the trigger on one! The Rig gets twice the hashes per watt as the Single. Im in no position to spend that though. It might be smart to find a few people to go in together on one. The calculator on that at current rates spits out thousands in profit over the year. Wow!
Edited by DieCommie (02/22/12 10:23 PM)
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Seuss
Error: divide byzero
Registered: 04/27/01
Posts: 23,195
Loc: Caribbean
Last seen: 2 hours, 23 minutes
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Re: About mining Bitcoins (the deep web currency) [Re: DieCommie]
#15850966 - 02/23/12 03:20 AM (3 months, 4 days ago) |
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> But my electricity is pretty cheap from what I gather.
I hate (well, envy, not hate) you. I pay just over $0.43/kwh right now.
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Just another spore in the wind.
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DieCommie
El Guapo
Registered: 12/11/03
Posts: 22,841
Loc: Street of Dreams
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Re: About mining Bitcoins (the deep web currency) [Re: Seuss]
#15851698 - 02/23/12 08:42 AM (3 months, 4 days ago) |
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$0.0523 is what I pay.
Electricity cost is non-linear iirc. So just dividing my bill by Wh wont really tell me how much mining costs me. I need to find the cost of the last Whs that I add on. Im going to dig out my bills and figure that out before I pull the trigger on one.
Edited by DieCommie (02/23/12 09:24 AM)
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Zorro
Bandito
Registered: 01/04/06
Posts: 323
Loc: Europe
Last seen: 1 month, 13 days
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Re: About mining Bitcoins (the deep web currency) [Re: DieCommie]
#15857236 - 02/24/12 10:29 AM (3 months, 3 days ago) |
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Quote:
DieCommie said:
$0.0523 is what I pay.
Electricity cost is non-linear iirc. So just dividing my bill by Wh wont really tell me how much mining costs me. I need to find the cost of the last Whs that I add on. Im going to dig out my bills and figure that out before I pull the trigger on one.
Just go for it, man.
And send me some coins! 
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Zorro, Zorro, the fox so cunning and free,
Zorro, Zorro, who makes the sign of the Z.
Zorro sàz:
Consuming tropane alkaloids is like using Windows XP.
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mellowparty
oligofluoronucleotide
Registered: 05/17/09
Posts: 14,486
Loc: ∫exdx 
Last seen: 15 days, 20 minutes
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Re: About mining Bitcoins (the deep web currency) [Re: DieCommie]
#15869333 - 02/27/12 05:57 AM (3 months, 9 hours ago) |
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Quote:
DieCommie said:
$0.0523 is what I pay.
Electricity cost is non-linear iirc. So just dividing my bill by Wh wont really tell me how much mining costs me. I need to find the cost of the last Whs that I add on. Im going to dig out my bills and figure that out before I pull the trigger on one.
I pay £0kWh-1 since its included in my rent so I can rock that shit 24/7.
Too bad I'm not a technically-inclined person but I sure as fuck am interested in the LSD thats offered on there  
One thing I don't understand is what exactly is the value of these bitcoins. I gather they're solutions for mathematical problems but how come that equals goods and services 
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DieCommie
El Guapo
Registered: 12/11/03
Posts: 22,841
Loc: Street of Dreams
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Re: About mining Bitcoins (the deep web currency) [Re: mellowparty]
#15870542 - 02/27/12 11:47 AM (3 months, 3 hours ago) |
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The value of these bitcoins comes from the fact that a community of people accept them for trade. This of course seems flakey, and bitcoins are a very risky medium to keep. But remember, this is the same thing that makes paper dollars, gold, and digital dollars valuable. The fact that a community of people accept them for trade. Because gold and dollars have been accepted for trade much longer and by more people than bitcoins they are of course much less risky.
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DieCommie
El Guapo
Registered: 12/11/03
Posts: 22,841
Loc: Street of Dreams
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Re: About mining Bitcoins (the deep web currency) [Re: mellowparty]
#15870656 - 02/27/12 12:06 PM (3 months, 2 hours ago) |
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.
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DieCommie
El Guapo
Registered: 12/11/03
Posts: 22,841
Loc: Street of Dreams
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Re: About mining Bitcoins (the deep web currency) [Re: DieCommie]
#16215043 - 05/11/12 11:57 AM (19 days, 4 hours ago) |
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Quote:
DieCommie said:
This could be a game changer, http://www.butterflylabs.com/products/
With the Single they have there, I calculate I can break even in less than a year. I can net ~10% in a year, at the current exchange rate which is a little high I think.
Finally got it last week. Setup was easy and its performing just as claimed.
Ill break even and make a good profit with it most likely. But I hesitate to buy more. Some caveats include the health of the chips (rumors they are second hand) and of course long term viability of bit coin.
Im glad I got it though, fun stuff! I expect that after a few more iterations FPGAs will get nothing but more attractive.
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 makaveli8x8
Stranger
Registered: 02/28/06
Posts: 16,540
Last seen: 1 minute, 3 seconds
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Re: About mining Bitcoins (the deep web currency) [Re: DieCommie]
#16222284 - 05/12/12 10:25 PM (17 days, 17 hours ago) |
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ok so how long does it take u guys to earn 1 bitcoin and which pool are u using or are u solo.
Lastly i heard they were shrinking the blocks to 25bit coins, and at $5 per coin it seems bitcoin is going to be pretty much dead soon because from what i see so far its already pointless to mine them
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  We were sent to hell for eternity  Ø h®
We play on earth to pass the time 
Over-population the root of all Evil-brings the Elites Closer to the gates.
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DieCommie
El Guapo
Registered: 12/11/03
Posts: 22,841
Loc: Street of Dreams
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Re: About mining Bitcoins (the deep web currency) [Re: makaveli8x8]
#16222948 - 05/13/12 01:53 AM (17 days, 14 hours ago) |
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For the most part, yes it is pointless to mine.
I have a rare set of circumstances including super cheap electricity and an incessant need to tinker with computers.
I mine using p2pool, a peer-2-peer style distributed mining pool. But for the bitforce single I just got, I use the slush pool due to a technicality. I would like get it on p2pool too, if they ever release a fix.
There is a lot of speculation about what will happen come Dec when the reward halves. With the reward halving inefficient and marginal miners may get pushed out actually decreasing difficulty. Also the slower creation of coins may increase value. But in the end I dont think it will matter. What matters is perceptions on the future of bitcoin. If bitcoin is perceived to remain valuable and the few niche markets its good for remain then the value will stay strong through halving. Otherwise the value will fall regardless of halving.
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