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Thread: Bitcoin

  1. #1
    404 Sanity Not Found PsykoPenguin's Avatar
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    Bitcoin

    Does speedguide have a mining operation for bitcoins?
    If not, any plans on starting?
    Speedguide Bitcoin pool...
    "I'm like a lion on the prowl after prey"

  2. #2
    Second Most EVIL YARDofSTUF's Avatar
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    I was looking into mining a little while ago, but with just a single PC right now its not Like I'd really make a bunch of cash, plus with summer here anyone with a farm would be heating their PC room up well.

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    Ft. Couch! morbidpete's Avatar
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    Purchased some once for an app i needed. Lookedintpominning. fromwhat i read, los of CPU power, and its getting harder and harder to generate coins. Dont remember the exact details.

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    404 Sanity Not Found PsykoPenguin's Avatar
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    Quote Originally Posted by YARDofSTUF View Post
    I was looking into mining a little while ago, but with just a single PC right now its not Like I'd really make a bunch of cash, plus with summer here anyone with a farm would be heating their PC room up well.

    ----Taken from http://startbitcoin.com/-----
    Fran Tarkington June 30, 2011 at 5:43 am #

    Let’s say I worked at a large hardware reseller and I had access to 8 or so servers that were sitting in my datacenter completely dormant. Would it be possible to set up a mining operation using these servers. They are a mix of D*** and H* servers and blades. They range in specs from 2.2Ghz to 3.06Ghz and have 16Gb-48Gb of ram. We have an OC-3 going into our datacenter. Could this suffice as a mining unit?

    Thinkweis June 30, 2011 at 2:57 pm #

    It would be very inefficient. You would probably only get around 15-25 Mhash/sec per CPU and your energy costs would go through the roof. ATI graphics cards are the only real way to mine if you are interested. I would recommend buying Bitcoins for the investment if you are not currently in a position to mine.
    ----Taken from http://startbitcoin.com/-----

    Quote Originally Posted by morbidpete View Post
    Purchased some once for an app i needed. Lookedintpominning. fromwhat i read, los of CPU power, and its getting harder and harder to generate coins. Dont remember the exact details.
    Ye even with my AMD Phenom x6 1055T I'm only really doing 7.3-7.8 Mhash/s which is largely insignificant. Check this out: https://en.bitcoin.it/wiki/Mining_rig
    I ended up selling my ATI Radeon HD 5770 but even then it was only one card and that's not really much help.

    So practically your best bet is to join a pool or maybe if someone looked into it and figured out how to do it... create a pool of their own like say SG creates a pool and we all join in on the fun.
    Everyone in on it gets a small share of bitcoin when it's found and it just accumulates to a certain amount before payout for each person. Of course SG would take in their own share as well.
    "I'm like a lion on the prowl after prey"

  5. #5
    Administrator Philip's Avatar
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    We can start a pool if there is interest, let's say if there are 5+ people that would commit to participate for it to make sense ?

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    404 Sanity Not Found PsykoPenguin's Avatar
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    Quote Originally Posted by Philip View Post
    We can start a pool if there is interest, let's say if there are 5+ people that would commit to participate for it to make sense ?
    Well you can definitely count me in that's for sure.
    "I'm like a lion on the prowl after prey"

  7. #7
    Moderator David's Avatar
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    We would be a bit late to the party.
    CPU hashing is very time inefficient. GPU mining is about two orders of magnitude more effective, however the processors do take a beating while running the software. It is arguable that the cost of equipment, electricity and heat management, would make this worthwhile.

    I am not saying no, but do research.

    Hell_Yes

    Luck is where preparation meets opportunity - Seneca

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  8. #8
    Administrator Philip's Avatar
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    Interesting point David... GPU mining is definitely better/more efficient than CPUs, still, would return justify the investment ?
    After reading a bit, seems AMD GPUs (recommended by Bitcoin for better efficiency) draw 250-300 watts of measured power at full load.

    References:
    http://www.tomshardware.com/reviews/...n,2818-21.html
    http://www.tomshardware.com/reviews/...w,3154-11.html

    At 250 watts:
    250 watts * 24 hours / 1000 = 6kWh per day
    30 days * 6kWh = 180 kWh * $0.12 (12 cents per kWh) = $21.60 per month

    So, it would likely cost $20 - $25 monthly to run a recent GPU at full load 24 hrs per day. (you may have to add a few bucks for the rest of your machine not being shut off or in sleep mode at night as well).

  9. #9
    Ft. Couch! morbidpete's Avatar
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    Quote Originally Posted by Philip View Post
    Interesting point David... GPU mining is definitely better/more efficient than CPUs, still, would return justify the investment ?
    After reading a bit, seems AMD GPUs (recommended by Bitcoin for better efficiency) draw 250-300 watts of measured power at full load.

    References:
    http://www.tomshardware.com/reviews/...n,2818-21.html
    http://www.tomshardware.com/reviews/...w,3154-11.html

    At 250 watts:
    250 watts * 24 hours / 1000 = 6kWh per day
    30 days * 6kWh = 180 kWh * $0.12 (12 cents per kWh) = $21.60 per month

    So, it would likely cost $20 - $25 monthly to run a recent GPU at full load 24 hrs per day. (you may have to add a few bucks for the rest of your machine not being shut off or in sleep mode at night as well).

    couple of work pc's it is going on, there on 24/7 anyways, so why not. My home PC's fold so no use there

  10. #10
    Ft. Couch! morbidpete's Avatar
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    Quote Originally Posted by AngleWold View Post
    Purchased some once for an app i needed. Lookedintpominning.
    lol, Looked into farming. Not sure what happened there

  11. #11
    R.I.P. 2018-07-16 RoundEye's Avatar
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    I have to read up on this a bit. Can you trade or exchange bitcoins for real money?
    Sliding down the banister of life ..........................

  12. #12
    Second Most EVIL YARDofSTUF's Avatar
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    Quote Originally Posted by RoundEye View Post
    I have to read up on this a bit. Can you trade or exchange bitcoins for real money?
    Ya, but after you factor in the cost of electricity there is barely any profit left. especially if you don't have a very high efficiency PSU.

  13. #13
    R.I.P. 2018-07-16 RoundEye's Avatar
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    Oh, I guess there's many factors to it.
    Sliding down the banister of life ..........................

  14. #14
    Ft. Couch! morbidpete's Avatar
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    Quote Originally Posted by RoundEye View Post
    Oh, I guess there's many factors to it.
    A ton, Thats why I was thinking of using my work pc's. On 24/7 anyways. I think i'll stick to keeping them folding for now

  15. #15
    I have not folded for a while, but now, why not. No longer a heat issue, never an isp isuue, it's a good thing. I have a friend who immegrated to england, and he might not last the year. Very sad. Cancer. His parents live right up the street. I hope/pray he/we/she/somebody/antibody beats it!

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