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PostPosted: Fri Aug 31, 2012 9:29 am 
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coyadev wrote:
kulukuy wrote:
SieteSuerte wrote:
wth is this? why do you need a high end computer to mine bitcoins? :?

A high-end computer is not necessarily needed. However, an appropriate GPU (the high-end ones obviously are more capable of higher hash rates) and a good PSU is needed to be more efficient in mining. While gaming has frame rates, Bitcoin mining has hash rates. In both cases, the higher the better. You can use CPUs for mining but they're not very good at it (even the high-end ones).

What then in your opinion should be the ideal components but cost effective bitcoin mining rig?


It's all relative. I think it's more of a question of how high of a hash rate does one want to achieve. You can literally start with what you already have and see what you get out of your GPU. You could also experiment using your CPU to mine but I guarantee you that you'll be disappointed. They're good in managing the system as a whole but are all thumbs when it comes to the assembly-line-type of dumb, repetitive work that graphics cards are good at. At any rate, watch those temps. You could always rely on the good ol' tried and true solution -- removing the side panel and put a fan in front of it especially when the ambient room temp is high.


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PostPosted: Fri Aug 31, 2012 9:52 am 
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coyadev wrote:
I gather that the bitcoin currency is supported by an international network of opensource community free from any gov't control. CJ Corona's efforts to hide his wealth would have earned more success if he bought bitcoins instead of hiding his wealth in banks which are subject to the laws of the land. Your posts imply that the bitcoin system is good at trading and transacting, but I think its ideal for money laundering.


LOL! I'm not implying anything on any of my posts. I wanna make it clear before it gets out of hand and the rumors start spreading like wildfire and therefore declare that I didn't invent Bitcoin and I'm definitely not Satoshi Nakamoto. I'm just a messenger. Don't shoot the messenger. I'm learning Bitcoin just like all of you are and I never have been nor pretended to be an authority on it. I don't think it's fair of anyone to assume that just because I started this thread, I should be the default authority and expert on the subject. ;-)

I don't know CJ Corona and what he's done. As far as money laundering is concerned, we have that now with our current fiat currency system. Why would Bitcoin or any other currency system for that matter be an exception. If people want to resort to that kind of thing, that's their business, not mine. I'm not the money laundering police. Perhaps, CJ Corona is not aware of the infamous Swiss bank accounts.


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PostPosted: Fri Aug 31, 2012 10:48 am 
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kulukuy wrote:
coyadev wrote:
I gather that the bitcoin currency is supported by an international network of opensource community free from any gov't control. CJ Corona's efforts to hide his wealth would have earned more success if he bought bitcoins instead of hiding his wealth in banks which are subject to the laws of the land. Your posts imply that the bitcoin system is good at trading and transacting, but I think its ideal for money laundering.


LOL! I'm not implying anything on any of my posts. I wanna make it clear before it gets out of hand and the rumors start spreading like wildfire and therefore declare that I didn't invent Bitcoin and I'm definitely not Satoshi Nakamoto. I'm just a messenger. Don't shoot the messenger. I'm learning Bitcoin just like all of you are and I never have been nor pretended to be an authority on it. I don't think it's fair of anyone to assume that just because I started this thread, I should be the default authority and expert on the subject. ;-)

I don't know CJ Corona and what he's done. As far as money laundering is concerned, we have that now with our current fiat currency system. Why would Bitcoin or any other currency system for that matter be an exception. If people want to resort to that kind of thing, that's their business, not mine. I'm not the money laundering police. Perhaps, CJ Corona is not aware of the infamous Swiss bank accounts.


:biglaugh:


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PostPosted: Fri Aug 31, 2012 11:55 am 
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coyadev wrote:
kulukuy wrote:
coyadev wrote:
I gather that the bitcoin currency is supported by an international network of opensource community free from any gov't control. CJ Corona's efforts to hide his wealth would have earned more success if he bought bitcoins instead of hiding his wealth in banks which are subject to the laws of the land. Your posts imply that the bitcoin system is good at trading and transacting, but I think its ideal for money laundering.


LOL! I'm not implying anything on any of my posts. I wanna make it clear before it gets out of hand and the rumors start spreading like wildfire and therefore declare that I didn't invent Bitcoin and I'm definitely not Satoshi Nakamoto. I'm just a messenger. Don't shoot the messenger. I'm learning Bitcoin just like all of you are and I never have been nor pretended to be an authority on it. I don't think it's fair of anyone to assume that just because I started this thread, I should be the default authority and expert on the subject. ;-)

I don't know CJ Corona and what he's done. As far as money laundering is concerned, we have that now with our current fiat currency system. Why would Bitcoin or any other currency system for that matter be an exception. If people want to resort to that kind of thing, that's their business, not mine. I'm not the money laundering police. Perhaps, CJ Corona is not aware of the infamous Swiss bank accounts.


:biglaugh:


Actually, I stand corrected. Switzerland is no longer the place to bank with privacy/secrecy protection. They've changed their privacy policies for accounts owned by foreign entities (not so for accounts owned by Swiss taxpayers) within the last decade under pressure from the "cartel" (cough...cough...us/eu...). The hip place to do that kind of banking is now Singapore (probably more reliable and secure than the Grand Cayman offshore banking). From what I've read, Credit Suisse's (2nd largest Swiss bank) international banking headquarters is now located in Singapore which is just around the corner from da Pilipens. I guess this convenience is good news to the corrupt politicos of da Pilipens.


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PostPosted: Fri Aug 31, 2012 12:00 pm 
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coyadev wrote:
What then in your opinion should be the ideal components but cost effective bitcoin mining rig?

What's your current video card BTW? Better yet, what are your system specs including PSU?


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PostPosted: Wed Sep 05, 2012 11:04 am 
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Bitcoin: Alive and here to stay? Or slowly fading away?

http://thenextweb.com/insider/2012/09/02/bitcoin-alive-stay-or-slowly-fading-away/

(Don't forget to read the interesting reader comments at the bottom of the article.)


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PostPosted: Wed Sep 05, 2012 11:12 am 
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"Initial distribution

Bitcoins are awarded to Bitcoin "miners" for the solution to a difficult proof-of-work problem which confirms transactions and prevents double-spending. This incentive, as the Nakamoto white paper describes it, encourages "nodes to support the network, and provides a way to initially distribute coins into circulation, since no central authority issues them."[1]

The network currently requires over 1,000,000 times more work for confirming a block and receiving an award (50 BTC as of February 2012) than when the first blocks were confirmed.[35] The network adjusts the difficulty every 2016 blocks based on the time taken to find the previous 2016 blocks such that one block is created roughly every 10 minutes. Thus the more computing power that is directed toward mining, the more computing power the network requires to complete a block confirmation and to receive the award. The network will also halve the award every 210,000 blocks, designed to occur about every four years.

Those who chose to put computational and electrical resources toward mining early on had a greater chance at receiving awards for block generations. This served to make available enough processing power to process blocks. Indeed, without miners there are no transactions and the Bitcoin economy comes to a halt.

Some criticize Bitcoin for being a Ponzi scheme in that it rewards early adopters.[36] But while early Bitcoin miners may benefit more than later ones, the returns on their investments do not come at the expense of others participating in the Bitcoin economy. The return (on invested computing power and electricity) is the reward for doing useful work in the Bitcoin network by verifying blocks, and often costs nearly as much in electricity costs as they receive."

http://en.wikipedia.org/wiki/Bitcoin#Initial_distribution


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PostPosted: Thu Sep 06, 2012 6:08 am 
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Just for the heck of it, I put the AMD FX-8120 and the C2D E6600 Conroe CPUs through the paces of Bitcoin mining and see how they fare. I got a paltry 4.5 Mhash/s and 1.8 Mhash/s respectively. The 8-core FX-8120 was at stock/factory setting but I'm sure it triggered the max turbo clock (up to 4.0 GHz) since it was subjected to the 99% continuous mining load and the dual-core E6600 Conroe was oc'd to 3.0 GHz. I also wanted to test the quad-core i7 950 Bloomfield (oc'd to 4.0 GHz) on another rig but for some reason, the miner doesn't even recognize it. So, there you have it. CPUs are "all thumbs" when it comes to Bitcoin mining.


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PostPosted: Tue Sep 11, 2012 8:30 am 
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kulukuy wrote:
Just for the heck of it, I put the AMD FX-8120 and the C2D E6600 Conroe CPUs through the paces of Bitcoin mining and see how they fare. I got a paltry 4.5 Mhash/s and 1.8 Mhash/s respectively. The 8-core FX-8120 was at stock/factory setting but I'm sure it triggered the max turbo clock (up to 4.0 GHz) since it was subjected to the 99% continuous mining load and the dual-core E6600 Conroe was oc'd to 3.0 GHz. I also wanted to test the quad-core i7 950 Bloomfield (oc'd to 4.0 GHz) on another rig but for some reason, the miner doesn't even recognize it. So, there you have it. CPUs are "all thumbs" when it comes to Bitcoin mining.


As bitcoin mining is a graphics extensive operation ..how will this customized Eurocom Scorpius with a total of 8 gigs of RAM from dual NVIDIA GeForce GTX 680M w/ 4GB GDDR5 dedicated memory each,

17.3-inch anti-glare 1080p display (1920x1080 resolution)
Windows 7 Professional 64-bit
Intel Core i7-3920XM (2.9GHz, up to 3.8 GHz with Turbo Boost, 8MB L3 cache, 55W TDP)
Dual NVIDIA GeForce GTX 680M w/ 4GB GDDR5 dedicated memory each (8GB GDDR5 total)
8GB DDR3-1600 RAM (2x 4GB; 16GB max. - 2x 8GB)
256GB Crucial M4 mSATA SSD and 480GB Intel 520 series SATA SSD
Killer Wireless-N 1202 (2.4GHz and 5GHz)
Integrated Bluetooth v4.0
Integrated HD (1080p) webcam
Integrated fingerprint reader
Tray-load Blur-ray and DVD burner
8-cell li-ion battery (89.21Wh)
Weight: starting at 7.7 lbs.
Dimensions: 419 x 286 x 24-49.7mm (16.5 x 11.25 x 1-2 inches)
Starting Price: $2,017 (USD)
Price as Configured
http://www.notebookreview.com/default.a ... D=6550&p=2

What would be the predicted hash rate for such....?


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PostPosted: Tue Sep 11, 2012 9:58 pm 
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cutefix wrote:
kulukuy wrote:
Just for the heck of it, I put the AMD FX-8120 and the C2D E6600 Conroe CPUs through the paces of Bitcoin mining and see how they fare. I got a paltry 4.5 Mhash/s and 1.8 Mhash/s respectively. The 8-core FX-8120 was at stock/factory setting but I'm sure it triggered the max turbo clock (up to 4.0 GHz) since it was subjected to the 99% continuous mining load and the dual-core E6600 Conroe was oc'd to 3.0 GHz. I also wanted to test the quad-core i7 950 Bloomfield (oc'd to 4.0 GHz) on another rig but for some reason, the miner doesn't even recognize it. So, there you have it. CPUs are "all thumbs" when it comes to Bitcoin mining.


As bitcoin mining is a graphics extensive operation ..how will this customized Eurocom Scorpius with a total of 8 gigs of RAM from dual NVIDIA GeForce GTX 680M w/ 4GB GDDR5 dedicated memory each,

17.3-inch anti-glare 1080p display (1920x1080 resolution)
Windows 7 Professional 64-bit
Intel Core i7-3920XM (2.9GHz, up to 3.8 GHz with Turbo Boost, 8MB L3 cache, 55W TDP)
Dual NVIDIA GeForce GTX 680M w/ 4GB GDDR5 dedicated memory each (8GB GDDR5 total)
8GB DDR3-1600 RAM (2x 4GB; 16GB max. - 2x 8GB)
256GB Crucial M4 mSATA SSD and 480GB Intel 520 series SATA SSD
Killer Wireless-N 1202 (2.4GHz and 5GHz)
Integrated Bluetooth v4.0
Integrated HD (1080p) webcam
Integrated fingerprint reader
Tray-load Blur-ray and DVD burner
8-cell li-ion battery (89.21Wh)
Weight: starting at 7.7 lbs.
Dimensions: 419 x 286 x 24-49.7mm (16.5 x 11.25 x 1-2 inches)
Starting Price: $2,017 (USD)
Price as Configured
http://www.notebookreview.com/default.a ... D=6550&p=2

What would be the predicted hash rate for such....?


I don't think Bitcoin mining is graphics-intensive; it's more like integer or math-intensive. It just so happens that GPUs are well-suited in sorting out hash algorithms (SHA-256 cryptographic hash functions).

Unfortunately, the GTX 680 (desktop version with 1536 CUDA cores and 1006 MHz stock clock) could only muster around 105 Mhash/s at stock settings; the GTX580 with two-thirds less CUDA cores actually does better at around 150 Mhash/s. If the GTX 680Ms (mobile version) in your notebook are reference cards with 1344 CUDA cores each and 720 MHz stock clocks, then expect even lower hash rates than that of the desktop version. But then again, I had been wrong before. The best way to find out for sure is to get them to mine. Heat management would be a challenge with a confined notebook housing though; monitor the temps closely and down-clock your GPUs and reduce voltages as much as you can get away with if necessary to reduce heat. Also, RAMS (system and video card) have little bearing on hash rates. In fact, video card RAMS are usually clocked down while mining to reduce energy consumption and heat.


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PostPosted: Wed Jan 23, 2013 5:41 am 
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kulukuy wrote:
A couple of weeks ago when I was in the thick of tryi+ng to figure out Bitcoin, I could have bought some at around $5-$6 each then. The price is now over $9. You snooze, you lose...I guess.

The last time I reported, a Bitcoin was worth around $9. Today, it hit the $17 mark. It has steadily rallied since late last month but it has become more pronounced since last week. In fact, it was at around $15 just yesterday. This was expected since the reward for mining Bitcoins was "halved" (less newly minted Bitcoins) at the end of November of last year. It is also expected to continue to increase in value due to another event within the Bitcoin infrastructure/network/community that is even more significant and would dramatically increase the difficulty in mining these Bitcoins (the law of supply and demand) that is about to hit the fan in the next couple of weeks.

I'm ready for it. I didn't snooze this time around and I'm not gonna lose. :wink:

https://mtgox.com/


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PostPosted: Fri Feb 01, 2013 7:30 am 
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1 Bitcoin = $20+

https://mtgox.com/


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PostPosted: Wed Feb 13, 2013 8:23 am 
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1 Bitcoin = $25+

https://mtgox.com/


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PostPosted: Wed Feb 13, 2013 11:43 pm 
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Because Bitcoin is vertual money used in the Internet of which you can't touch them, hold them or feel it. The things you can buy is Thong, sex dolls. Or a wash out mama.. Yep, you could buy a thong for 3bit coin or about 75 bucks equivalent in dollars.. Don't be fooled.


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PostPosted: Thu Feb 14, 2013 9:16 am 
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tagacapitolio wrote:
Because Bitcoin is vertual money used in the Internet of which you can't touch them, hold them or feel it. The things you can buy is Thong, sex dolls. Or a wash out mama.. Yep, you could buy a thong for 3bit coin or about 75 bucks equivalent in dollars.. Don't be fooled.

"Don't be fooled"? Do you know anything else at all other than thongs and sex dolls? What do you think fiat currencies are? Just because they are represented by pieces of paper with ink on them doesn't mean they are not virtual. Do you really still believe that they represent a certain amount of precious metals stored somewhere? Do yourself a favor and do some research about the subject before you make a post at the risk of making you look clueless and ignorant. Here are a couple of videos (if reading text-only material is not your cup of tea). Make sure to watch them in their entirety to get the big picture and hopefully, the next time you post here, you'd make more sense:

http://www.youtube.com/watch?v=lu_VqX6J93k (also a best-selling book of the same title)
http://www.youtube.com/watch?v=WK76Dl18uAU

Google "Nixon Shock" for further education on the matter and it would not hurt to learn more about the intricacies and sophistication of the Bitcoin network; I mean really learn about it instead of just parroting what others told you.

I unloaded 200 Bitcoins earlier today at current market price ($25+) to use it as partial payment for this new toy:

http://www.youtube.com/watch?v=q7mDAJjSPYU
http://www.youtube.com/watch?v=Tt7ZMvQim7g

Dayum! I missed out on them thongs and sex toys. I guess I got fooled.


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