You'll only get 700 if you start messing with the overclocks and actually underclocking them. I get 650'ish on mine with LtC Using GUIMiner: thread-concurrency: 20992 gpu-threads: 1 vectors: 1 worksize: 256 intensity: 20
Anyone know of other exchanges trading LTC apart from BTC-E? I was about to convert about 15 BTC to LTC on there, but the market depth is pretty thin, getting that amount in or out causes a huge price shift!!!
Okay finished my spreadsheet, Made two systems, a low cost to entry system and an optimal system cost G-B B75M-D3V 62 Intel G1610 44 7970 409 7970 409 GS800 127 memory 16 hdd use a spare total cost 1067 MH/s 1300 power usage 750 $ per MH/s 1.2183692596 G-B B75M-D3V 62 Intel G1610 44 7870 229 7870 229 GS600 95 memory 16 hdd use a spare total cost 675 MH/s 800 power usage 562.5 MH/s per $ 1.1851851852 video card analysis Video card MH/s TDP cost $ per MH/s watt per MH/s 7750 125 55 89 1.404494382 2.2727272727 7770 200 80 109 1.8348623853 2.5 7850 300 130 209 1.4354066986 2.3076923077 7870 400 175 229 1.7467248908 2.2857142857 7950 500 200 318 1.572327044 2.5 7970 650 250 409 1.5892420538 2.6 7990 1200 555 ? #VALUE! 2.1621621622 what do you think? I assumed that the cpu doesn't matter so you should get the cheapest / lowest power ones (this might not be true) I assumed 100w system power draw before vid cards and that the PSU would be 80plus and you would try and run it at 80% for max efficiency all prices are from MSY I've just chosen gigabyte mobos because I like them and i didn't want to make it all too complicated. I couldn't find any mobos on there that you should put 3GPU;s in ( i assumed a 4x slot was not enough)
Call it what you will. Bitcoin is poorly understood. Essentially it is a new form currency, (that various people have put effort into and risk). It is not a get rich scheme as people imagine (those with foresight have potentially gained great wealth, which is fair enough). Whether the price goes up or down, who cares?, it is a useful vehicle/currency for trading.
I don't understand the mining part. If you have some sort of super computer can you generate the coins for free?
Ok, so, wouldn't it favour the people with the most money, who can build the best computers therefore they can mine more?
Early adoption (pretty much, luck) is the key with these things. You mine whilst difficulty is low so you make 30 coins in a day and not 0.1 when everyone rushes to it.
No. 'Mining' is the process of taking up the transactions being broadcast across the network, packaging them into something termed 'a block,' and then padding a segment of the block with a nonce in effort to generate a SHA-256 hash beginning with a run of zeros. How many zeros are required to begin the hash is a measure of difficulty. Then, the next block mined must contain the hash of the previous block, and so on down the line, resulting in a chain of blocks stacked upon one another (the 'blockchain'). Solving a block is what rewards the miner with newly minted coins. As more power is added to the network, the network self-adjusts making subsequent solutions increasingly more difficult. This arms race has the effect of securing the network against attack, since an attacker that wants to either monopolize processing power for a plurality of coins, counterfeit solutions and attempt to spend invalid coins, or double spend valid coins would need in excess of 51% of the total processing power in the network to have any chance to outrace everyone else's objections. The U.S. Department of Energy's Cray Titan supercomputer offers ~17.5 petaflops of processing power. The collective power of the Bitcoin network today stands at 700 petaflops. http://en.wikipedia.org/wiki/Titan_(supercomputer) http://bitcoincharts.com/bitcoin/
I guess I'm going to have to sit on the sidelines atm. Thanks for your answers. I'll have to read up more on it.
Yes. The reward for investing more into the network is that you will mine more coins than everyone else. But this isn't rewarding speed, it's rewarding efficiency. Obviously, it does no good to deploy immense processing power to solving blocks if the electricity bill is higher than the value of the coins you're getting back.
The thinking seems to be, cheapest CPU + mobo possible. And you can go PCI x1 slots for cards 2-4, and just use riser cables. No need to get expensive boards with >1 PCI x16 slots. I would be thinking: AMD Sempron LE-145 2.8Ghz 1M Boxed CPU = $39 MSI 760GM-P23 (FX) AM3+ 760G+SB710 2xDDR3 DVI mATX Motherboard = $45 (if just want to go max 2 cards)
Getting a riser cable in Australia is a difficult task, so you're aware. I've had to order mine from eBay - in Hong Kong.
Thought so too. I have since double checked the info and removed that price figure as well as linked two sources and added corrections. The $1.2B figure was from a Trace Mayer interview I saw yesterday which I assumed to be correct since he's generally good on his research, but I think he's arrived at that by stacking base + upgrade costs from Oak Ridge's making Titan out of Jaguar and so on ... which I think makes it appear to be more expensive than it actually is if bought new, or he simply misspoke. I'd peg the real value from scratch to be around $200M, which regardless would mean a person would have to aquire more than 20 Titan supercomputers at a cost of about $4B to affect a 51% attack.
It is a pretty complex subjet and you need some time to get your head around it. maybe have a listen to the following introduction: http://www.youtube.com/watch?v=yi2WgeJ73IE
So what happens if TPTB simply turn off the faucet of fiat at the banks ? How would one convert a bitcoin into next weeks rent or grocery shopping ?
