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

[mav2000]

Hey any idea on the amount of bandwidth used? Is it a lot per day?

[slaveondope]

Hey any idea on the amount of bandwidth used? Is it a lot per day?

It's minimal. just a lot of I/O's

[jcool]

Wow, 2 pages since I went to sleep... let me catch up for a sec will you
Edit: Thanks slaveondope for answering most of the questions that were posted, I did not know some of this stuff. You seem to know a lot more about this than me (could have told us eh )

Anyway yes, you have to use the worker login data from deepbit for guiminer, not your registration - sorry about that, will fix it asap.

Edit2: Ok, made some changes, more updates later (details on optimal mining etc)

[slaveondope]

Edit: Thanks slaveondope for answering most of the questions that were posted, I did not know some of this stuff. You seem to know a lot more about this than me (could have told us eh )

Hey I was broke, XS has a lot off power and that makes the difficulty increase drastically (rate given hardware finds coins) Pay the bills first then help my DC friends out

[jcool]

I was thinking, maybe we could start an XS pool or something. Any1 know how to set up a pool?
And obviously I don't want the whole of XS to join in on this, but I do want every single cruncher to be able to offset his or her running costs. If people earn a little extra, that's great.
Maybe when you grow a little older, you'll understand where I'm coming from

[slaveondope]

I was thinking, maybe we could start an XS pool or something. Any1 know how to set up a pool?

In the rough I do but I lack the network skills atm, though I've learned a lot from this venture. Basically a server running bitcoind such as amazons free servers would work.
A XS pool would be awesome with zero fee's and donation's going towards charities that can help others.

edit: reminds me that I need to get my cpu's setup on WCG again since Ive got the gpu's settled on btc well enough.

[[XC] Oj101]

How are payments done? Can someone confirm that they've actually received US currency in their account? With the hardware I can muster to run this I might finally be able to afford to get my business off the ground and can then start adding more rigs to my farm Someone wanna sponsor me a 5830?

[slaveondope]

Depending on your country withdrawing funds will be different I've done well in my first couple weeks using Mt.Gox and Dwolla.

[zalbard]

Nice write up.
Hopefully a few more people can benefit from this. Especially those with idle ATI cards.
The note about GPU cooling is quite serious, by the way. This thing will make your cards run HOT. If you're still on air, do not run your GPU fan on auto. My card runs into 100C that way.

[ggdh]

So one 5870 (OCed) - how much money it can generate?

And what's with this difficulty increase over time?

[jbartlett323]

So.. the GPU/CPU is computing something when "mining" bitcoins.. what exactly are they computing?

This was never really answered... according to:

*Snip*

New coins are generated by a network node each time it finds the solution to a certain mathematical problem (i.e. creates a new block), which is difficult to perform and can demonstrate a proof of work.

so does that mean it just crunches on random math problems? is it something that can help someone? why do i see the posiiblility of a nefarious interactions here? i mean, i'm all about making money, but i dont want to find out 5 years from now i aided in cracking the US encryption system or something of that nature. So what exactly does it crunch?

[lkiller123]

And what's with this difficulty increase over time?

I guess it's like some sort of economy. It gives out a limited supply of Bitcoins, just like printing money IRL. Your chance of getting coins will eventually decrease with more people mining them.

[artemm]

This was never really answered... according to:


so does that mean it just crunches on random math problems? is it something that can help someone? why do i see the posiiblility of a nefarious interactions here? i mean, i'm all about making money, but i dont want to find out 5 years from now i aided in cracking the US encryption system or something of that nature. So what exactly does it crunch?

This is my concern as well and I haven't really seen a clear answer anywhere so far. Once the computation is complete, is only a hash check conducted or is the "math problem" really a WU that is uploaded to an unknown destination? Seems fishy... I may give it a shot, but it's still fishy

[rcofell]

This is my concern as well and I haven't really seen a clear answer anywhere so far. Once the computation is complete, is only a hash check conducted or is the "math problem" really a WU that is uploaded to an unknown destination? Seems fishy... I may give it a shot, but it's still fishy

The details of the "math problem" is easily available, all the code is open-source. Basically it's doing a large amount of SHA256 computations, which is somewhat explained under the technical section here. More details are thrown around on the mining page of the wiki.

I'm planning on getting around to digging into the mining code today, lets see how that goes

I'll have to see what all goes into making a pool too, if it would be worth it or not...

[Bobsama]

My concern with this is the small number of bitcoins that will be in existence; there's literally not enough bitcoins for even a small population.

Anyways, I'm trying this regardless. The GUIMiner is stuck on "connecting"; does anyone know a fix?

[rcofell]

That's where the deflation would come into play; if bitcoins were to stick around that far into the future, then we would likely be trading in fractional amounts.

[1200W]

Just got mine up and running Lets see how it goes

[[XC] Oj101]

So... A single 5870 can generate about $330 per month, if I run ten I can be looking at $3300 per month? Electricity for that will come to about $400 per month, and the initial outlay $3000. That sounds too good to be true?

[zalbard]

So... A single 5870 can generate about $330 per month

Where did you get these numbers? O.o
It's way too high, lol.
More like $150, maybe $200 tops, and that's without electricity cost.

[[XC] flat-four]

Would there be any point to running a 5450 on this? I have a 6850 as my primary, but would it be worth while to throw the 5450 in my system only for bitcoin?

[[XC] Oj101]

Well from what I've seen 1 Mhash/s equals about $1/month, and the 5870 does 313 Mhash/s. Lets say $150 per month (electricity doesn't matter) - that's still $1500 per month for doing nothing?

[[XC] Oj101]

https://en.bitcoin.it/wiki/Mining_hardware_comparison

A 5450 will earn you a tenner per month or so, it's better than nothing eh?

[RADCOM]

will it run on a quadro FX/1500 or 1700 and at what sort of rate? maybe I'll just plug the 6990 in< rubs hands together> I'm thinking this could be an additional hardware revenue stream

[jcool]

So... A single 5870 can generate about $330 per month, if I run ten I can be looking at $3300 per month? Electricity for that will come to about $400 per month, and the initial outlay $3000. That sounds too good to be true?

That's what I thought... but it seems to actually work that way, yeah.
Also, overclocked GPUs can hash a lot faster than this, especially if you have water cooling. For example, my 5870's hash at 430Mhash/s each @ 1Ghz core. I even pushed an HD5850 over the 400Mhash barrier running 1075Mhz core

This only works on VERY good cooling, and with the good old V1 original layout design (digital volterra PWM --> voltage adjustable).

Oh yeah, forgot to mention...

Anyone who is making money off this HowTo and NOT crunching for WCG will get a call from Movieman!

[1200W]

Anyone who is making money off this HowTo and NOT crunching for WCG will get a call from Movieman!

WHERES the STOP button???? quick...