[How to] fund your cruncher's utility bill OR how to make money using bitcoin

[don_xvi]

I'm nervous about not seeing my money at dwolla yet, either, it's just one coin worth, but I'm waiting to get this thing figured out before I try to sell & transfer all my coins!


I was also going to start sounding a cautionary tone on here. I think we're all in it for the quick cash, but you've got to be careful with that bitcoin wallet. The people I was reading who lost their bitcoins were doing strange things, but what I got out of it was that every time you make a transfer (I think that was in or out) you need to backup the bitcoin wallet file. If you lose your hard drive that has it, you've lost the contents. If you try to restore one that contained bitcoins you've since sent out, it will not be recognized by the network.

[artemm]

I'm nervous about not seeing my money at dwolla yet, either, it's just one coin worth, but I'm waiting to get this thing figured out before I try to sell & transfer all my coins!


I was also going to start sounding a cautionary tone on here. I think we're all in it for the quick cash, but you've got to be careful with that bitcoin wallet. The people I was reading who lost their bitcoins were doing strange things, but what I got out of it was that every time you make a transfer (I think that was in or out) you need to backup the bitcoin wallet file. If you lose your hard drive that has it, you've lost the contents. If you try to restore one that contained bitcoins you've since sent out, it will not be recognized by the network.

You can also create unlimited wallets. In other words: keeping all of your eggs in one basket is a bad idea.

[p2501]

Just to make sure: the bitcoin core app can run on any computer (eg my main system). The miner rig only needs the miner software, not the core app right?!

[OldChap]

So, 5870: which driver is recommended?

I had a quick lookaround and sort of hit on 10.3... Thoughts anyone?

[shoota]

Just to make sure: the bitcoin core app can run on any computer (eg my main system). The miner rig only needs the miner software, not the core app right?!

I think that is correct. Miner apps -> Pool -> Market -> bank account

So, 5870: which driver is recommended?

I had a quick lookaround and sort of hit on 10.3... Thoughts anyone?

There is supposed to be a performance increase with the older drivers and sdk 2.1 but I used the newest versions of everything and it was painless and not too much of dip at all. it's up to you

[ggdh]

Same here. The difference between 10.5 +s dk 2.1 and 11.2 + sdk 2.4 was negligible.

If you try to restore one that contained bitcoins you've since sent out, it will not be recognized by the network.

Is there any reason why I should not keep my coins on bitmarket.eu account (trading place)? I have my balance there and I believe they are stored there safely... Other sites that you use in US should work the same way, especially most of you will do quick money instead of long term savings/investments...

[artemm]

Same here. The difference between 10.5 +s dk 2.1 and 11.2 + sdk 2.4 was negligible.


Is there any reason why I should not keep my coins on bitmarket.eu account (trading place)? I have my balance there and I believe they are stored there safely... Other sites that you use in US should work the same way, especially most of you will do quick money instead of long term savings/investments...

I would cash out as soon as possible. Don't store bit coins in your wallet and don't leave them on Mt. Gox or your exchange. I would even go as far as saying not to leave funds on Dwolla (or, especially, PayPal) but that seems more stable.

The reason I say this is because Bitcoin probably won't make authorities very happy. If they decide to take action, sites like Mt. Gox and deepbit will be the first to fall. Just cash out every few days... fully.. unless of course you want to speculate, which is pretty damn risky from what I've seen.

[artemm]

CBS just posted an article about Bitcoin. Watch the BTC price climb

[Sparky]

i just saw this thread earlier this morning, and skimmed through all the FAQ about bitcoin and mining, and here are my thoughts:

crunching and folding has always been a donation of your hardware and resources to help the research you believe in, in hopes of a cure being found one day. bitcoin mining is the exact opposite, there are no work units to crunch/fold, and the results are purely selfish because the money goes into your own pocket. though i do understand the intent of this thread to help offset the electricity costs and hardware, i doubt that most people will use this extra bit of money to put back into true non-profit DC projects. instead, this money will go into building up more miners, which in turn will generate more money for even more miners. many people from this XS subform will put back that money for more crunchers, but the rest of the miners could care less about DC projects because those projects don't give back instant cash gratifications. and also the idea of anonymous transactions that are not traceable doesn't really appeal to me. if you buy perfectly legal things, then what's there to hide? i see this as a big opportunity for money laundering and with that same thought, who knows what kind of activities you're supporting every time you sell a bitcoin? so i just don't really agree with this type of "DC" work, or the type of economy that it promotes. /rant

I'm seeing it as a way to try and keep more crunchers going, if it pays off. As of right now, I have my main rig going and then my rig at the office. That's really all I have. If this Bitcoin thing actually works, and helps to offset my electric bill some, then I can afford to fire up my Arima again for example.

And the same thing about what people are going to use the bitcoins for applies to any kind of currency. If you buy/sell stuff in dollars or euros, what could you be "supporting" doing that? Fact is, you aren't supporting somebody else's possibly illegal stuff by using the same currency he is, and you have no control over what he does. I feel the same applies to this bitcoin stuff.

You can also create unlimited wallets. In other words: keeping all of your eggs in one basket is a bad idea.

Maybe if I had more than half a bitcoin it'll become more necessary

Question: what do these numbers mean on BTC? Like, do I really have 0.0129 bitcoins (lol) for nearly 24 hours worth of work?
And do I need to do anything with the bitcoin program itself?

[shoota]

Yes you really have .0129 bitcoin It takes a little while even with a fast gpu.. can you manage to get a faster gpu?

edit: I found a 5870 on CL for $225 woot! I'm gonna try to get it

[Sparky]

I'm just seriously doubting the estimated numbers I saw earlier that I could somehow net $50 a month from this or something like that if in the space of a day I haven't even made a buck!

[shoota]

yeah i think you need a faster gpu. from the way i understand being part of a pool means the users split the 50 btc everytime a block is mined and the payout is proportional to your output. maybe yours is so low that it's not paying off

[Sparky]

OT: Shoota, quick! make another post! You have 2,666 posts

[INFRNL]

this has me a little worried. hopefully someone can shed some light



my 5830 didn't have any "warm up" time, been a constant 260 m/h pretty much from the start.

Amd's drivers are up to 11.5 now. Assuming you have win7 64-bit here is the DL page:
http://sites.amd.com/us/game/downloa...n_win7-64.aspx

Nice; a stock 5830@260

does anyone know what a stock 5850 and 5870 run at? this should prove that our $110 5830 was more worthwhile.

[jcool]

BCT value just spiked again... high @ 24,32 USD on Mt. Gox following a CBS report about an hour ago. I sold 10 BCT for 238$ on Mt. Gox
You guys better believe there is some money to be made here

Edit: About the 5830 vs. 5850 debate. I think prices are kinda different for you US guys. Here in Europe I can get at 5850 for 110e, while a 5830 will cost me only 20€ less. For 20€ more, the 5850 is the way to go. For 110$ vs. 200$, the 5830 is obviously better.

[Sparky]

I'm still not seeing the money. jcool you mislead me! FIRE AND PITCHFORKS!



My GPU sucks for this.

[nanoprobe]

Get this error message when trying to start guiminer.exe. What am I doing wrong?

[[XC] gomeler]

I'm seeing it as a way to try and keep more crunchers going, if it pays off. As of right now, I have my main rig going and then my rig at the office. That's really all I have. If this Bitcoin thing actually works, and helps to offset my electric bill some, then I can afford to fire up my Arima again for example.

And the same thing about what people are going to use the bitcoins for applies to any kind of currency. If you buy/sell stuff in dollars or euros, what could you be "supporting" doing that? Fact is, you aren't supporting somebody else's possibly illegal stuff by using the same currency he is, and you have no control over what he does. I feel the same applies to this bitcoin stuff.



Maybe if I had more than half a bitcoin it'll become more necessary

Question: what do these numbers mean on BTC? Like, do I really have 0.0129 bitcoins (lol) for nearly 24 hours worth of work?
And do I need to do anything with the bitcoin program itself?

If you look at it you have 0.0129 of confirmed rewards and 0.0236 BTC that are unconfirmed at the moment. That comes out to about.. $0.75 after if you all the BTC are awarded to you

I'm right now just running an HD5670 at 900MHz and it is churning away at ~85MH/s. Here's what it generated in ~20 hours.



In total it earned about $2 today if all the unconfirmed and estimated rewards are distributed as indicated. Just that little card plugging away makes me eager for the UPS guy to arrive

[Sparky]

Hmm... so, it might be able to pay for its own electric usage. But it isn't going to get me very far otherwise.

Eh. It was worth a shot. I'll probably kill this thing. Not like I made enough to cash out yet anyway.

[OldChap]

I get "error loading blkindex.dat" when trying to run bitcoin now and I am guessing this needs to be running before guiminer which is still "connecting" after 3 hours

[[XC] gomeler]

Hmm... so, it might be able to pay for its own electric usage. But it isn't going to get me very far otherwise.

Eh. It was worth a shot. I'll probably kill this thing. Not like I made enough to cash out yet anyway.

Unfortunately HD4K series products just aren't up to snuff to really produce much The lowest I'd even consider for farming would be an HD5770(~225MH/s). Really though you need an HD5830/50/70 to see a single card produce anything.

The other option is lots of low power cards. I'm only running this HD 5670 because it was gathering dust but the HD 5770 might be a viable option. Once all my cards come in and pay themselves off a bit I'm going to build a dedicated miner out of the MSI 890FX GD-70 with 3 HD 5830 and 2 HD5770. Using single-slot HD5770 to maximize slot usage while using "cheap" cards that can easily be scaled back and forth. I'll try to remember to share my results in a few weeks

[Sparky]

I had guiminer going "connecting" without any connection when I had the user/password wrong.

The username needs to be the name of the worker, not your overall account. Take a look at my pic, my user is Sparky but the username in guiminer is Sparky_main which coincides with my worker. The password is the password set up for the worker as well.


I'd use this as an excuse to upgrade my card, EXCEPT I don't like gambling and expecting bitcoin to pay off my card I bought on credit basically is practically the definition of gambling. And odds are, I'd lose

[shoota]

OT: Shoota, quick! make another post! You have 2,666 posts

AH, DONE!!

Nice; a stock 5830@260

does anyone know what a stock 5850 and 5870 run at? this should prove that our $110 5830 was more worthwhile.

my 5830 is at 900 core. 5850's run around low to mid 300's, 5870's run around upper 300's to low 400's.

the 5830's on newegg for $109 were a great deal. i'm glad I got two.

Unfortunately HD4K series products just aren't up to snuff to really produce much The lowest I'd even consider for farming would be an HD5770(~225MH/s). Really though you need an HD5830/50/70 to see a single card produce anything.

The other option is lots of low power cards. I'm only running this HD 5670 because it was gathering dust but the HD 5770 might be a viable option. Once all my cards come in and pay themselves off a bit I'm going to build a dedicated miner out of the MSI 890FX GD-70 with 3 HD 5830 and 2 HD5770. Using single-slot HD5770 to maximize slot usage while using "cheap" cards that can easily be scaled back and forth. I'll try to remember to share my results in a few weeks

this is just about my setup too. 3x5830, 1x5870, and 2x5770. should prove to make some cash. enough to pay for the cards, and then hopefully enough to build a new SB/IB cruncher

[INFRNL]

can't wait for my cards to get here so I can join the fun. will have my 2 5830's...need more money so I can get a few more.

[slaveondope]

can't wait for my cards to get here so I can join the fun. will have my 2 5830's...need more money so I can get a few more.

Good luck finding them, Monday mourning they where in stock come home that evening ya'll bought them all