• Welcome to Overclockers Forums! Join us to reply in threads, receive reduced ads, and to customize your site experience!

Bitcoin

Overclockers is supported by our readers. When you click a link to make a purchase, we may earn a commission. Learn More.
Status
Not open for further replies.
Coreyoliseffect said:
I just consider a hobby at this point. I don't think it was ever meant as a means of profit.
Click to expand...

A few months ago it took something like 12 days to pay off a 5850 if it was being used to mine 24/7. That's a pretty good return.

But then :censored::censored::censored::censored: hit the fan. I'm sure that the BTC value will increase in a few weeks.
 
Real tempted to unload about 3 of my cards that are mining at this point, don't see any real reason to being generating bitcoins quickly when the market is like this... :(
 
Been running deepbit on a 5850 for about 4 days. 0.76168504 BTC as of now.
Average BTC is like $7.50 (I probably spend that on electricity)

Im currently using Pay per share.
 
jstutman said:
Been running deepbit on a 5850 for about 4 days. 0.76168504 BTC as of now.
Average BTC is like $7.50 (I probably spend that on electricity)

Im currently using Pay per share.
Click to expand...

What flags are you using, whats your hash rate, and what is your core speed?
 
Yup. Add that to the end.
Should perk it right up.

Try aggression at 11 as well, my 5870 and 5830s like 11 better than 13.
 
jstutman said:
in addition to what I already have?
Click to expand...

I was going to suggest that you get rid of any existing flags and use what I suggested. It might pay to copy and paste your current flags into a .txt document just in case my suggestion doesn't work for you.
 
Been a long time coming, CPU mining malware has been around for quite a while now, makes botnet operators a fair amount of cash, too.

I think more people are going to notice that their GPU fan is screaming at them though.
 
Bobnova said:
Been a long time coming, CPU mining malware has been around for quite a while now, makes botnet operators a fair amount of cash, too.

I think more people are going to notice that their GPU fan is screaming at them though.
Click to expand...

With all 3 of my AMD cards, when the fan is set to auto it just overheats and starts throttling instead of increasing the fan speed enough for me to notice the extra noise.

That's why I always set a fixed fan speed or a custom fan profile.
 
That's strange indeed, someone screwed up when they set up the AUTO fan profile then. People these days!


Mine aren't subtle.
 
My 6970 once got up to 103°C with the fan set to auto. I've always set a custom fan profile ever since so it doesn't go above 80°C. The 5850 and 5970 both go up to about 92°C and then they start throttling.
 
Have all my fans manually cranked to 100% through CCC. 5870 runs about 87c at 950 core, 6950 flashed to 6970 runs 85c at 940 core, and 5770 at 950 cores runs 50c. All on stock volts.
 
Couple month bump:
http://arstechnica.com/tech-policy/...-down-more-than-90-percent-from-june-peak.ars
Bitcoin, the world's first peer-to-peer digital currency, fell below $3 on Monday. That represents a 90 percent fall since the currency hit its peak in early June.

Supporters argue that Bitcoin has fundamental advantages over conventional currencies. The system is designed to transfer funds without a central authority, freeing Bitcoin users from bank fees and government regulations. The Bitcoin protocol offers robust anonymity, and the protocol guarantees that there will never be more than 21 million Bitcoins in existence, which supporters have argued would give the currency a stable value.

Unfortunately, the currency's value hasn't proven stable in practice. Several waves of media coverage between April and June pushed the currency's value up from less than $1 to more than $30. Soon after it reached a peak, the currency had a series of PR disasters. One Bitcoin user claimed that a half-million dollars worth of Bitcoins were stolen from his PC; he may have fallen victim to Bitcoin-stealing malware. A few days later, the most popular Bitcoin exchange was hacked, forcing a multiday suspension of trading and generating another wave of bad press.

Trading resumed in late June at around $17, and the currency's value has been steadily declining ever since. In August, one of the most popular Bitcoin "banks" claimed it had been hacked, and had lost hundreds of thousands of dollars worth of Bitcoins, triggering a fall in value to under $7. Bitcoin fell below $5 in September, and it is now worth less than $3.

So is Bitcoin doomed? The value of Bitcoins is (like any fiat currency) ultimately driven by supply and demand. With dollars, the supply is controlled by the Federal Reserve, and the demand is driven by the size of the US economy. The supply of Bitcoins grows automatically, asymptotically approaching 21 million, and the demand for Bitcoins is driven by the volume of Bitcoin-denominated transactions.

And that's Bitcoin's fundamental challenge: as far as we can tell, the volume of Bitcoin-denominated transactions is tiny. True, there are a few hundred merchants who say they accept Bitcoin, but most of them appear to be small concerns, and almost all of them also accept dollars, euros, or another national currency. They may do only a small fraction of their business in Bitcoins.

And that's not surprising. While Bitcoin doesn't have any formal transaction fees, transacting in Bitcoins carries risks that dealing in dollars or euros does not. If users store Bitcoins on their PCs, there's a risk that malware will gain access to their wallets and steal their funds. Conversely, if they put their Bitcoins in an "e-wallet" service online like MyBitcoin, there's a risk that that service will have a security breach, or that the owners of the service will themselves turn out to be crooks.

There are also risks due to volatility. For example, Bitcoins lost about 15 percent of their value on Monday between 8am and noon on the East Coast. Someone who bought Bitcoins on Monday morning expecting to spend them on Monday afternoon might find that Bitcoin-denominated prices had suddenly risen by 15 percent. The 2 percent transaction fee on credit cards might seem downright reasonable in comparison.

The current value of Bitcoin—just under $3—is still significantly above the April price of around $1. It's theoretically possible that the volume of Bitcoin commerce will grow enough to halt the slide in the currency's value. But the value of a currency is built on its reputation, and five months of bad news and depreciation have done serious damage. Indeed, the mood on Bitcoin forums has turned grim, with Bitcoin fans giving one another pep talks and debating how low the price can fall before the currency is declared dead. It'll be difficult to pull out of that kind of tailspin.
Click to expand...


Not looking good if there is anyone here still mining, more specifically if you are paying for the power to do so.
 
The $4 to $2.50 drop was someone selling off 125k coins.

My rigs are all shut down, it's not profitable enough to listen to the fans at the moment.
 
Status
Not open for further replies.
Back