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2013-03-29 08:41 32638359 Anonymous (bitcoin_logo.png 530x526 165kB)
Sup, /g/ I've decided to start mining buttcoins Any recommended cards to start out with? The 5770, 6750, or 7770 appear to be clear winners as far as MH/s/$, but I would like to hear your suggestions I plan on setting up at least two computers as mining rigs, with one card in each. Then I'll expand as I begin to profit.

2 min later 32638406 Anonymous
>>32638359 >I've decided to start mining buttcoins the market is already over-saturated, you're just wasting electricity especially since the summer is on its go, I wouldn't buy into bitcoin mining now.

3 min later 32638440 Anonymous
You're gonna get raped by FPGA/ASIC machines OP. There is little hope left.

5 min later 32638496 OP
>>32638406 >>32638440 Is it possible to make enough to recoup the cost of the cards in a few months' time?

6 min later 32638517 Anonymous
>>32638406 >"especially since the summer is on its go" wat?

8 min later 32638575 Anonymous
>>32638517 summer is coming, and it will get hot. Then OP will sweat in his hellcave for $1.20 per day.

9 min later 32638601 Anonymous
You're late to the game OP. Maybe you can try with some alternative cryptocurrencies, but don't count on recouping the cost

11 min later 32638673 Anonymous
>>32638601 I heard Litecoin could be picking up. you don't need a gpu for it, it is CPU intensive. of course value increase is pure speculation

20 min later 32638914 OP
>>32638601 >>32638673 Thanks for the suggestion. Checking out Litecoins right now. Hopefully I can find some sort of GPU-powered miner for it. That would really speed it up. It would also give me an excuse to upgrade my graphics card.

21 min later 32638957 Anonymous
>>32638496 No. The difficulty has increased to the point a single card isn't going to contribute anything at all, especially with all the ASICs entering the market soon.

32 min later 32639239 Anonymous
>>32638957 >Advertise ASIC powerfull capabilities >Regain your investmen in 1 month or less! >All those fools >Difficulty up mah ass >Take 6months to regain investment All fucking bitcoin related shis is one scam after another

39 min later 32639419 Anonymous
>>32639239 Plenty of ASICs have been delivered already. (not by BFL though). Avalon first 2 batches were like 60HG/s, using 800W for 1400-1500 USD. Takes like 3-4 days to recoup investment and from then on it's a ~400USD a day money printing machine for months.

40 min later 32639459 Anonymous
>>32638359 You can look into scamcoins like LTC, TRC or PPC. But it's gonna be a lottery ticket, not an investment.

40 min later 32639463 Anonymous
>>32639419 Until its flooded by coins and no one want to buy them anymore.

42 min later 32639498 Anonymous
>>32639463 Then they switch to litecoin! And after that, they make a new cryptocurrency! The copper to litecoin's silver to bitcoin's gold!

42 min later 32639504 Anonymous
>>32639463 What will be flooded by coins?

43 min later 32639528 Anonymous
>>32638673 > you don't need a gpu for it, it is CPU intensive. You don't know what ``CPU intensive'' means.

44 min later 32639557 Anonymous
>>32639504 The market. The expected computing power of all the new ASICs i think doubles the computing power of the Bitcoin network.

45 min later 32639570 Anonymous (image.jpg 165x115 7kB)
>willingly getting involved in a pyramid scheme

45 min later 32639581 Denwa
>>32639498 TRC?

51 min later 32639694 Anonymous
>>32639557 Bigger hashing power doesn't mean more coins are produced. Seriously, buttcoins 101

52 min later 32639721 Anonymous
>>32639570 This. You guys are making money from nothing, and are just as bad as the american federal reserve printing money to fulfill their needs.

53 min later 32639756 OP
Should I just buy an ASIC miner? There's one here for $149: https://products.butterflylabs.com/ 4-5gh-bitcoin-miner.html It uses less power than my toaster and worst case scenario I only lose $149 if it turns out unprofitable. Are these legitimate? It says that they're pre-order only but will be available some time this month...

55 min later 32639791 Anonymous
>>32639756 BFL has delivered 0 ASICs this past 6 months since pre-orders opened. The queue has 17-19k people.

57 min later 32639841 Anonymous
>>32639694 It does change the expected distribution of all future coins though, since with the increased difficulty non ASIC's can't really expect to contribute anything meaningful to a pool anymore.

1 hours later 32639947 Anonymous
>>32639841 Yes, you are right, nevertheless the market will not be "flooded by coins" as the poster implied. I just wanted to reply because it is a fundamental misunderstanding of how the system works.

1 hours later 32640017 OP
>>32639791 That's what I was afraid of. My economics teacher was right. To make any money, you need to be one of the early adopters. I still may try mining with a card. I was thinking of getting an upgrade anyway, and making (some) of my money back from mining wouldn't be a bad idea. Using an NVIDYA GeForce 9500GT right now. It's understandable that I'm looking for an excuse to upgrade.

1 hours later 32640075 Anonymous
>>32640017 >My economics teacher was right. To make any money, you need to be one of the early adopters. This isn't true at all. There's still money to be made in the market for buttcoins, you just have to be patient.

1 hours later 32640108 Anonymous
>Then I'll expand as I begin to profit. cute

1 hours later 32640176 Anonymous
I just found out about Litecoin. I just tried the official Litecoin client and it gave me about 3.5 khashes/s with my laptops i5-480. Is it right, or is there something wrong with my client? I know it's only a consumer level laptop, but still, I checked how much I would make in a month and it would cost many times more to even keep my laptop running that month. So it's hopeless even with decent mobile processor, but how is it with lets say i5-3500k or similar?

1 hours later 32640231 Anonymous (1364278518829.jpg 223x254 17kB)
What's the best way to crash the bitcoin market?

1 hours later 32640239 OP
>>32640075 If I buy two cards and start mining, will ASIC machines vastly overtake me before I break even? I'm looking at cards that generate 200-600MH/s and it looks as though the pools will soon be flooded by 2-60GH/s behemoths. I'm a fairly patient person, but I wonder if I'll get to a point where I do so many less shares than everyone else that I cease to make more from Buttcoins than my power bill costs. >>32640108 You're cute, too. Wanna hang out sometime?

1 hours later 32640287 Anonymous
>>32640176 I have to correct: >it would cost many times more to even keep my laptop running that month. TO > I would only make like 1 on 2 Litecoins per month even with pooled mining and even if the LTC price on market was same as BTC it wouldn't make much profit. So no, I think that it is not really smart to use CPU for mining, only fast and multiple GPU's can give LTC multiple coins per week.

1 hours later 32640298 Anonymous
>>32640231 >everyone sells at once

1 hours later 32640325 Anonymous
>>32640239 >If I buy two cards and start mining, will ASIC machines vastly overtake me before I break even? yes

1 hours later 32640353 Anonymous (1363432843154.gif 400x394 1123kB)
Don't worry OP, ASIC is just a buzzword, like fun. It's like saying that USB is better than nVidia or ATI.

1 hours later 32640393 Anonymous
>>32640325 are you guys fucking retarded? asics cant mine nearly as much as you think. They're only slightly better than gpu mining

1 hours later 32640402 Anonymous
>>32640176 LTC mining gives you less than a thousandth of the hashrate you get when mining BTC. As for the laptop, forget about that. As for CPU mining, forget about that too. You need a suitable GPU and mine with that, otherwise it's almost pointless. >>32640017 Buy AMD.

1 hours later 32640407 Anonymous
>>32640231 Get someone with huge amounts to sell, start to spread rumor of crash because of big investors cashing out, Everyone panic sells, Hello to 8.62$ per buttcoin

1 hours later 32640422 OP
>>32640325 Well I think it's settled then. I'll have to go to Plan B: begging for coins. Buttcoin donations: 19Y6AANTStrajZyNFoD8SoB7trKSTDnVAm Lardcoin donations: LTftk91FHEpj31MjzKmZuEtaDfKym8dS1C Help fund this poor neckbeard. Just one Bitcoin (or Litecoin) per day can help pay for his woodscrews, terrorist watches, placebo-grade headphones, and mechanical keyboards.

1 hours later 32640433 Anonymous
>>32640393 >60GH/s using 800w. >they're only slightly better than GPU mining

1 hours later 32640458 Anonymous
am i able to throw an old 7770 in my rig along with my 7950 and mine on the 7770 while i game on the 7950?

1 hours later 32640501 Anonymous
>>32640433 >muh hash rate higher hash rate does not mean more coins you fucking nigger

1 hours later 32640514 Anonymous
>>32640458 yeah

1 hours later 32640527 Anonymous
I'm not an expert, but the trend seems to be ASIC. I make a fair amount using a 6870 (old box) running all the time and a GTX 670 (main rig, way lower hash rate, but why not) running overnight. Butterfly Labs is the only place I know of selling consumer-level equipment (i.e., something under $1000). I'm considering getting the cheapest model, the Jalapeno, which would still be a huge improvement over my current mining op, but I'm waiting it out because some pre-orders have been waiting since summer 2012. Even something that "basic" will pay for itself in a matter of months or less. I'm glad I started when GPUs are still profitable to some extent, but that time seems to be coming to an end.

1 hours later 32640528 Anonymous (1336990245727.jpg 640x480 38kB)
>>32638517

1 hours later 32640530 Anonymous (1363456066971.gif 240x135 511kB)
>>32640501 >Higher speed doesn't mean higher speed

1 hours later 32640535 Anonymous
>>32640501 Because the amount of coins you personally get depends on the tooth fairy, right?

1 hours later 32640577 Anonymous
>>32640527 has any third party already received and tested their ASICs?

1 hours later 32640585 Anonymous (mini-rig-4_1_1[1].jpg 744x768 84kB)
>>32640527 >buying the cheapest model >not buying this for $30,000

1 hours later 32640643 Anonymous
Everyone with decent GPU's should immeadately start mining Litecoins. Their value is low and mining is easy. Mine now and wait for few years and you will make profit. Litecoin will get value of at least 10 dollars per LTC during the next 5 years. Huge profits if you mine now and get multiple LTC's per day. It seems stupid, but it's a fact that mining bitcoins isn't profitable anymore if you don't get like 100 of high-end ati cards for free somehow or have asic miner running in your closet. Litecoins most probably won't gain value as good as BTC, but it will get bigger over weeks, months and years and most surely it won't go down from it's current value of about 0,7 dollars/LTC.

1 hours later 32640646 Anonymous
>>32640585 >not gifting them some thousands of dollars more

1 hours later 32640671 Anonymous
Currently, i get 4 ghps i make abour 1 btc per day. sup

1 hours later 32640718 Anonymous
>>32640577 Not from BFL. 0 have been delivered. >>32640527 I agree with everything you wrote, just want to add something. Let's assume they are legit, and they will finally start manufacturing soon. The risk is that if you order now, you'll obviously end up at the back of the queue and by the time you receive your product you'll have all 3 Avalon batches mining for a while, PLUS the circa 15k BFL devices of all sorts starting to mine well ahead of you. Difficulty will increase exponentially and the BTC/USD exchange value is still a major risk. I'm not saying you shouldn't sign up for one, but you should definitely factor this into your calculations.

1 hours later 32640729 Anonymous
>>32640527 Do you think that the jalapeno will be worth it? I think i'm gonna buy one as well, once they're actually being shipped out

1 hours later 32640820 Anonymous
>>32640643 >mining bitcoins isn't profitable anymore This isn't true YET. If you have a suitable card it is still profitable due to bitcoins trading so high. Mining Litecoins only gives you a slight advantage as it stands now. Otherwise the what you wrote is plausible.

1 hours later 32640822 Anonymous (dogbert.jpg 476x352 24kB)
>>32640407 >big investor cashes out >spreads the rumor himself >buys back his BTC fortune for a fraction of the price >rinse and repeat >??? >PROFIT!

1 hours later 32640833 Anonymous
>>32640820 -the no idea how it got into the last sentence

1 hours later 32640842 Anonymous
>>32640422 sent ;)

1 hours later 32640847 Anonymous
>>32640822 >>rinse and repeat only works that well the first few times but yeah, I look forward to seeing some Bitcoin events in the future

1 hours later 32640880 Anonymous
>>32640822 >big investor cashes out >spreads rumor >depresses price heavily, hammering the bid >sells all, starts buying back >price bounces back faster than he expected >now he'll have fewer coins or his price average will go up

1 hours later 32640905 Anonymous
does anyone still make or sell FPGA boards

1 hours later 32640958 Anonymous
>>32640880 >lots of people trying this same shit >some luck out, some don't >ultimately only Dogbert wins

2 hours later 32641405 Anonymous
>>32640239 Sorry, left the thread for a bit. The money to be made in bitcoins isn't in mining anymore. It's in speculation. Buy low, sell high.

2 hours later 32642118 OP
>>32641405 Prices are already high. It would be a huge gamble to buy now. Kind of off-topic. Is the 7770 any good? It's available on newegg for $100 right now. I would be using it for mining and/or F@H.

2 hours later 32642162 Anonymous
>>32640422 sent ;)

2 hours later 32642375 OP
>>32642162 Thank you. All proceeds for the Help a Neckbeard Foundation go towards my next Radeon 7770: 'No Drivers' Edition.

3 hours later 32642606 Anonymous
>>32642118 https://en.bitcoin.it/wiki/Mining_h ardware_comparison See for yourself.

4 hours later 32644129 Anonymous
FUCK YOU ALL AND SEND ME MONEY! 1PW42Z868n4Z3Hyt7UiqSEyxm7uStZ4Lca

4 hours later 32644322 Anonymous
How are asics built? What are they, really complex FPGAs? Or what? Can't we build something like that out of logic gates?

5 hours later 32646165 Anonymous
>>32644322 literally the same way they make CPUs, SoCs, any IC, and FPGA's themselves ultimate in efficiency and speed

5 hours later 32646229 Anonymous
>>32638359 Mine LTC op, its rising as we speak

5 hours later 32646339 Anonymous (catlaptop.jpg 640x438 47kB)
>>32640729 I'll definitely buy one as well, once they actually start shipping and don't have a six month back order. Even at that price, I'm not risking selling to some startup with no nerd cred. Until my mining rig died on me today, I was doing comfortably, but things don't look to be that way for long, so it's either smart buying (with fortune, because prices change dramatically), or smart mining (with dedicated hardware, not just dedicated PCs with 5 GPUs). tl;dr buttcoins are volatile as fuck but you gotta love a decentralised currency that trolls the banking system

6 hours later 32646587 Anonymous (1350184012078.png 297x314 166kB)
Okay, I know this is about buttcoins, but I'm guessing it's the same thing. So I'm mining litecoins right now using a pool. How long does it take to see some increment of money? It's still 0. Do I have to stop the miner to have to site calculate it? Do I have to wait a day to see how much I made? I-I'm new to this!

6 hours later 32646652 Anonymous
>>32646229 I read on some mining wiki that LTC is largely unnecessary because of the fact that BTC can go down to a millionth of a single, so that inflation won't fuck shit up too badly, or something like that. I know it's supposed to be silver to gold, but it just doesn't seem necessary. Regardless, I need to try joining the pool again if it's open now.

6 hours later 32646744 Anonymous
>>32646587 >Do I have to stop the miner to have to site calculate it? Do I have to wait a day to see how much I made? I-I'm new to this! The most important question is which pool you are using. Because it depends what system the pool uses. https://en.bitcoin.it/wiki/Comparis on_of_mining_pools The tasks are divided up into "shares". If your client hits a number above your share difficulty it'll be registered and your account will be allotted a fraction of LTC. You often have to log in onto their website to request payment.

6 hours later 32646772 Anonymous
>>32646652 https://en.bitcoin.it/wiki/Litecoin is the sauce I was talking about. I'm intermediate with the whole thing so can't say I understand it fully.

6 hours later 32646773 Anonymous
>>32646744 By tasks i meant blocks. Just to be clear.

6 hours later 32646818 Anonymous
>>32646772 https://bitcointalk.org/index.php?t opic=159942.0

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