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Bitcoin
- Thread starter Xymurgy
- Start date
- Status
- Joined
- Dec 1, 2010
- Location
- Doylestown, Ohio
- Joined
- Apr 25, 2003
Price is going up significantly. I bet a lot of people are pissed.
I'm kind of pissed really, I sold a small stack at $4 and was feeling snazzy
No reason to be upset, it's very hard to time the market. If all you are concerned about is making fiat currency for doing a little mining, you did well.
Anyone who does serious research about Bitcoin and has a little understanding of economics should see how amazing Bitcoin is. It really has the potential to change a lot of what the world knows about money. Specifically by cutting out the middleman (banks). At the same time, one must be very responsible with their Bitcoins. You can't issue a charge back, it's like digital cash. Once it's gone, it's gone. Protect your wallets.
The price will come back down eventually (maybe
). Until they are worth at least $50 a coin, its just too easy for someone with a decent amount of funds (BTC or fiat) to influence the market. The correction down from $32 was not a bubble bursting. It was a constant stream of bad news along with major exchanges being hacked. People might be starting to realize that the actual Bitcoin network was unfazed and is still going strong. The infrastructure that is being built on top of Bitcoin is starting to mature (a bit) and this could account for the increasing exchange rate.
Anything could happen though, but my guess is as long as the actual Bitcoin network remains secure, we will see new highs in the BTC/USD exchange rate.
- Joined
- Apr 25, 2003
Mining on your own at this difficulty is not recommended. Unless you have 10+ Ghash/s, I would suggest joining a pool. There are several that do not charge any fees to mine.
- Joined
- Aug 10, 2010
- Location
- Sunshine State
Holy molly...
Volatile BTC is volatile... These things were trading at or around $6 yesterday and are now up to $7.
Why; oh why did I not get started on this months and months ago when it was recommended to me?
Volatile BTC is volatile... These things were trading at or around $6 yesterday and are now up to $7.
Why; oh why did I not get started on this months and months ago when it was recommended to me?
- Joined
- Apr 25, 2003
I mine in BTCGuild at the moment for simplicity. I have quite a few mining machines, so it's troublesome to make changes.
If I could change everything with a snap of my fingers, I would be mining in the P2Pool. It is the best for the future health of Bitcoin. And if you are mining Bitcoin, you want the future to be healthy.
P2Pool is more difficult to set up though. But it's much, much better for the Bitcoin network and security.
- Joined
- Apr 25, 2003
There was a long period (5 months) where the exchange rate did nothing but go down. A whole bunch of people felt justified for calling Bitcoin all sorts of terrible things during that period.
Me? I was mining. This idea is too big to let go. As long as there are people that feel the same way I do, Bitcoin will succeed.
The bonus is I've learned so much along the way. About computers. About economics. And about people.
- Joined
- Apr 25, 2003
Since posting I've switched to p2pool. It's a decentralized bitcoin pool that doesn't put the power of everyone's hashing into the hands of a single pool operator.
I just wanted to let any miners here know that a few guys on the forum are donating a couple Bitcoins every day to p2pool in order to promote a decentralized network.
As long as the pools luck isn't horrible, and it hasn't been, it should be the most rewarding pool to mine at for the next few weeks (as long as they plan on donating to the miners).
Donations are done through a sendmany that splits the amount among the miners on a proportional basis according to how many shares you've contributed to p2pool in the past 24 hours.
It's slightly more difficult to set up, but nothing any of you should have trouble with. Just wanted to share the news because I believe pool operators shouldn't have as much influence over the network as they currently do. Even if you don't care, you can earn more Bitcoins in p2pool as long as they are donating (in most pools you even pay a fee to mine).
I just wanted to let any miners here know that a few guys on the forum are donating a couple Bitcoins every day to p2pool in order to promote a decentralized network.
As long as the pools luck isn't horrible, and it hasn't been, it should be the most rewarding pool to mine at for the next few weeks (as long as they plan on donating to the miners).
Donations are done through a sendmany that splits the amount among the miners on a proportional basis according to how many shares you've contributed to p2pool in the past 24 hours.
It's slightly more difficult to set up, but nothing any of you should have trouble with. Just wanted to share the news because I believe pool operators shouldn't have as much influence over the network as they currently do. Even if you don't care, you can earn more Bitcoins in p2pool as long as they are donating (in most pools you even pay a fee to mine).
- Joined
- Jul 18, 2011
- Location
- Lake of the Ozarks, Mo
Hmmm...
There was another thread going that got me thinking about this whole Bitcoin thing...
I'm seriously considering building some rigs to mine with. (Especially in the winter time!)
See... Right now I've got 2 1500 Watt Ceramic heaters running in my garage attempting to keep the garage at a usable 50F temperature throughout the winter.
I'd much rather be putting something out there to heat with that would return some of the money I'm spending on heat.
In actuality, I don't even pay for the electricity, (well... It ends up being super cheap) since it's on a sub-account for my business, so it's all a tax write off at that point.
WHAT Hardware is best for getting into bitcoin mining, and how much of an investment am I looking at to make a decent return?
These "Pools" scare me... So unless we got a trusted group of guys here at OCF to start pooling... I think I'd rather stay on my own... Will this affect the viability of bitcoin making a decent ROI for me?
Any input from you veteran miners?
There was another thread going that got me thinking about this whole Bitcoin thing...
I'm seriously considering building some rigs to mine with. (Especially in the winter time!)
See... Right now I've got 2 1500 Watt Ceramic heaters running in my garage attempting to keep the garage at a usable 50F temperature throughout the winter.
I'd much rather be putting something out there to heat with that would return some of the money I'm spending on heat.
In actuality, I don't even pay for the electricity, (well... It ends up being super cheap) since it's on a sub-account for my business, so it's all a tax write off at that point.
WHAT Hardware is best for getting into bitcoin mining, and how much of an investment am I looking at to make a decent return?
These "Pools" scare me... So unless we got a trusted group of guys here at OCF to start pooling... I think I'd rather stay on my own... Will this affect the viability of bitcoin making a decent ROI for me?
Any input from you veteran miners?
https://en.bitcoin.it/wiki/Mining_hardware_comparison. Look there for hardware comparison. You will want ati/amd stuff.
Pools are not a big deal really. They are mostly immediate payout nowdays. You just need to find one that you like and doesn't take too much in fees for what features they give you.
Pools are not a big deal really. They are mostly immediate payout nowdays. You just need to find one that you like and doesn't take too much in fees for what features they give you.
- Joined
- Feb 1, 2009
- Location
- Illinois
Has anyone gotten pool mining to work on Ubuntu. I'm curious as to running my mining from a dual boot Win764/Ubuntu and I couldn't for the life of me get it running. It's like the download files no longer existed from the guide I was using so when I went to install via the terminal, there were no files to install (or at least they had the wrong name).
Also, there were addresses in the guide which had expired/terminated/non-existent web pages. Leads me to believe it's a much older guide and the links are dead by now. If this is the case, does anyone have a known working guide?
Also, there were addresses in the guide which had expired/terminated/non-existent web pages. Leads me to believe it's a much older guide and the links are dead by now. If this is the case, does anyone have a known working guide?
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- Joined
- Feb 1, 2009
- Location
- Illinois
According the forum that Guiminer is found on, the Linux support is in the infancy. I don't mind having to go in and run command line operations to get it going, but from what I read, most of getting it to work requires the user to set it up themselves. I'm looking for something that's a little more straight forward.
Edit: I guess I'll continue mining in Windows. On the bright side, I got my NMC wallet working in Linux.
Edit: I guess I'll continue mining in Windows. On the bright side, I got my NMC wallet working in Linux.
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- Joined
- Feb 1, 2009
- Location
- Illinois
They mostly get traded for btc rather than usd.
- Joined
- Aug 10, 2010
- Location
- Sunshine State
And Bitcoin has gone mainstream...
http://www.cbs.com/shows/the_good_wife/video/2186658794/the-good-wife-bitcoin-for-dummies
http://www.cbs.com/shows/the_good_wife/video/2186658794/the-good-wife-bitcoin-for-dummies
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