Bitcoin Mining "Megathread"

[Bisjac]

earning those pennies by running the computer hard for long hours. lol

[Ad Bot]

[Tyler66]

uh
how do you set up bitmining with a gpu

By downloading a miner that supports GPU mining.

b. apparently you can run programs on just your gpu and not your cpu, didn't know that

The program doesn't "run" on the GPU. It uses the CPU like every single program out there. However it is able to send instructions to the GPU through OpenCL and have it process it. Games, including 2D or 3D, work the exact same way (Except through OpenGL or DirectX, which their purpose is to handle graphics, not so much custom algorithms)

a. apparently a gpu is a graphics card, didn't know that

Actually, a GPU is a part of the graphics card that does that actual processing.
The graphics card itself is pretty much a large data bus that connects other parts of the graphics card onto it (Memory, D-Sub and/or DVI display support, GPU, etc.).
But I guess in the subject of mining you can use either word to have people understand what you're talking about.

c. and apparently you can get DDoS attacked while bitmining

Other way around. When you take part in Pool mining, you mine and send the finished piece of work including proof-of-work to the server. Occasionally the server is unable to handle all the work sent by all the miners and is temporarily down.

i see the interest but isn't there quite a bit at stake?

The only risk out there in mining is making sure you're getting more out of it than you're putting in. And just like real money, you need to secure your Bitcoins too.

[.:FancyPants:.]

well that clears all of that up
now i just need a better computer ._.

[Blockzillahead]

I can use my i7 to mine but I feel like all of it is a waste of time. You can make quicker money by getting some other job.

[Tyler66]

I can use my i7 to mine but I feel like all of it is a waste of time. You can make quicker money by getting some other job.

Using an i7 is a waste of time.
Pretty much any CPU is a waste of time.

[Fluff-is-back]

I ordered a mini ASIC super computer to mine with should achive 4.5 GH/s and run on 4.5 watts. Woo

[Tyler66]

Nice. I should be getting my check soon so depending on the amount I might get a 4.5 GH/s miner or a 30 GH/s miner

[Daedalus]

earning those pennies by running the computer hard for long hours. lol

you're so incredibly loving stupid sometimes
I can't remember the last time I've seen you actually thoroughly informed about something

Nice. I should be getting my check soon so depending on the amount I might get a 4.5 GH/s miner or a 30 GH/s miner

If you can get a 30GH, they're shipping them by the end of the year so you might be able to make upwards of like 50 bucks a day.
You have to account for difficulty increases.

[Bisjac]

you're so incredibly loving stupid sometimes

but its true. the amount of work  needed to gather any usable amount of coin, you may as well go outside and look on the streets for change.

[Daedalus]

but its true. the amount of work  needed to gather any usable amount of coin, you may as well go outside and look on the streets for change.

bisjac I actually really like you and appreciate your frankness but you haven't done your homework
around 1gh/s will be making you like 5 bucks a day
which obviously isn't much, but that can be done on just one home computer on the side.
then, let's say you take the time to purchase a cheap ASIC machine (which happen to be taking the market by storm, I might get a small one). even the smallest ones make around 20 bucks a day at this point in the market.
honestly, and I'm sure you'll agree with me on this, the bitcoin market is loving handicapped sometimes. it floats around arbitrarily depending on whatever new tech has been released.
so if you know when to buy in, it's really easy to make a profit, even if it isn't a huge one.
if you bought a 1200 dollar machine you could easily make a few thousand off of it if you did it right

[Bisjac]

its not about investing or profit. thats just how they sell it to the idiots on the internet, so to hide its true purpose.

most people pay for the coins they want, so to go straight to the bartering with them. they arent concerned about mining or how the price fluctuates. because its unreliable and silly for true investors to even look at.
its great that they arent into banking, in the sense that there is no paper trail for what you want to spend on. but they also arent insured for your losses when they steal from you or crash or add coins to inflate themselves at whim.

and you cant go into stories of how a person can buy more hardware so to earn a ton more daily. that is ridiculous. the few people even attempting such things spend more then they make to do so.

and 5 a day? i guess running a comp for 24 hours, and not being able to game on it during those times. yeah what a waste.

[Daedalus]

its not about investing or profit. thats just how they sell it to the idiots on the internet, so to hide its true purpose.

most people pay for the coins they want, so to go straight to the bartering with them. they arent concerned about mining or how the price fluctuates. because its unreliable and silly for true investors to even look at.

What do you believe its true purpose is?

[Bisjac]

What do you believe its true purpose is?

what everyone knows it is. a middle-man currency to buy illegal goods over darkweb, while remaining anonymous and without a trail from your actual bank account/CCs you can buy bitcoins with.

its like how i can buy a 200 dollar purse to give to a hooker. and she just takes it back to the store with the gift receipt. no direct money transferring.
similar scam


and this mining stuff, is just a few guys exploiting all the dumb people who misuse the coins anyways. giving them nearly nothing in the sense of decimal bitcoins, while they rent out your processing power to datafarms and they make the real income.

[Daedalus]

what everyone knows it is. a middle-man currency to buy illegal goods over darkweb, while remaining anonymous and without a trail from your actual bank account/CCs you can buy bitcoins with.

its like how i can buy a 200 dollar purse to give to a hooker. and she just takes it back to the store with the gift receipt. no direct money transferring.
similar scam

Here's my question to you, then. You don't believe something can have multiple uses? A currency, in fact?

[Bisjac]

its not a real currency if every transaction has to be compared to the USD (or other real currencies)
it dosnt stand on its own, and not insurred/trusted in the sense that its just a few guy's unregulated scam.


i dont see people trading bitcoins for games in their own economy. they do the math to how a bitcoin translated to USD first. then they trade based on that.
that means its not a currency. the bitcoin is 100% dependent on the USD strength. meaning you may as well trade in USD lol