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Showing 12 of 12 results by SoNic67
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Topic
Board CPU/GPU Bitcoin mining hardware
Re: Bitcoin 5ghs
by
SoNic67
on 18/12/2013, 19:06:42 UTC
I need to go cheap for now - i used a gh calculator and it said i would make 3 bucks a day - the butterfly labs 5gh is 200$ i dont have alot of options so id rather go small then use the return to buy more miners 
Try other calculators. If you take in consideration the rise in difficulty, you need to half the output every month. For example you will make some $30 first month, then $15 next one, $7.5 the third one and so on... you will never recuperate the $200 invested.
Post
Topic
Board Mining speculation
Re: ASIC Miners
by
SoNic67
on 18/12/2013, 18:17:48 UTC
Question, if you had the technical ability and resources to create an ASIC miner, why in the world would you sell the tech?
Because it's a rip-off. The hardware prices are twice or four times what they need to be in order to be able to make a return on your investment. It's more profitable to have a quick turn-around of capital that way. Check the facts with one of the online calculators like this one:
http://minercharts.com/
Plus, I am positive they get to hold your money, not the actual hardware, for months and play 'investment' with them.
Post
Topic
Board Press
Topic OP
20013-12-18 Infowars.com - US Treasury’s Financial Crimes Enforcement Network
by
SoNic67
on 18/12/2013, 18:08:20 UTC
US Treasury’s Financial Crimes Enforcement Network “Reaching Out” To Bitcoin Businesses

http://www.infowars.com/us-treasurys-financial-crimes-enforcement-network-reaching-out-to-bitcoin-businesses/
Post
Topic
Board Bitcoin Discussion
Re: CEO of BTC China speaking to CNBC
by
SoNic67
on 18/12/2013, 13:42:23 UTC
Post
Topic
Board Mining support
Re: Is solo mining possible with the 500 GH/s Bitcoin Miner from butterflylabs??
by
SoNic67
on 17/12/2013, 11:35:32 UTC
This one would be a good calculator: http://mining.thegenesisblock.com/
And i placed in some calculation. It is expected never to ROI. (At the worst scenario)
This is sooo sad...

I did input the data for a RedFury (2.5GH/s at $200). Current exchange rate $737 per bitcoin.
In first month it makes $30, second $15, third $7, so on, for a total production of $58. Net loss $142.
No wonder everyone tries to unload their ASIC miners on ebay! At current hardware prices, in a few of months will be no more money to be made with those.

In order to make some return ($36 for life of device), a 10GH/s miner would have to cost $200.
A 500GH/s would have to cost only $11k in order to generate $905 for life of device. That means that if you pay $12K for it, you are losing money.
Post
Topic
Board Bitcoin Discussion
Re: Are bitcoins indestructible?
by
SoNic67
on 17/12/2013, 04:07:24 UTC
The coins are just bits on different HDD's somewhere. If that magnetic information dies, bitcoins are lost.
For that to happen, it would require that everyone having the chain stop using the Internet or at minimum the Bitcoin P2P software all together. What would lead to that is another story. Cataclysms, ultra depreciation, laws and regulations...

Also, when all the 21 million coins will be minted, any transfer will deduct a fee, but no more coins will be generated to cover that. Will that lead to destruction?
Post
Topic
Board Speculation
Re: 2nd biggest ponzi scheme in history
by
SoNic67
on 15/12/2013, 11:50:46 UTC
And, most of the time, it is a Ponzi scheme. Even the paper currency by itself is one. But governments call it 'inflation', sounds better. Or 'social security'. Or 'taxes'.
Post
Topic
Board Pools
Re: [1.3 TH] DeepBit.net PPS+Prop,instant payouts, we pay for INVALID BLOCKS too
by
SoNic67
on 15/12/2013, 00:50:50 UTC
Sure, only you can make bitcoins...
Thanks.
Post
Topic
Board Pools
Re: [1.3 TH] DeepBit.net PPS+Prop,instant payouts, we pay for INVALID BLOCKS too
by
SoNic67
on 14/12/2013, 16:11:11 UTC
I just joined this pool. I have the latest bitcoin-qt and guiminer.
However I see on my account page "Workers not connected", but I have still reported shares and average speed. I had to stop/start the miner once because it stopped.
Please help me understand.
If I try to create a worker, that page gives an error.

Also, I get "warning: job finished. GT450 idle".
Post
Topic
Board CPU/GPU Bitcoin mining hardware
Re: GUI mining - updated Dec 3 with 7970 bugfix, also supports Stratum!
by
SoNic67
on 13/12/2013, 22:45:38 UTC
I am using this with a NVidia GT450. The default OpenCL works (at 42-43 Mh/s), but CUDA doesn't.

LE: I found how to do it. It makes only 36Mh/s.
Post
Topic
Board Beginners & Help
Re: New miner
by
SoNic67
on 12/12/2013, 23:56:14 UTC
I don't expect miracles, maybe just for fun... MY PC is on all the time anyway.

I did install Bitcoin QT (v 0.8.6 beta) previously and it created the wallet. Then it crashed Smiley
Now is still 'synchronizing with network' - 51 weeks behind...
Post
Topic
Board Beginners & Help
Topic OP
New miner
by
SoNic67
on 12/12/2013, 23:22:41 UTC
First of all hello to everyone - this is my first post here!

Second: What brought me here is the fact that I have installed the Ufasoft Coin client (ver 0.76.0.0) and I right-clicked the Bitcoin to 'mine'. But nothing happened. The 'State' is 958 days ago, Mining 0.0 MHash/s and 'Peers' is 8.
CPU utilization for 'Coin.exe' sits at 0%.  GPU-Z shows GPU load at 0-1%.
Is there anything else that I need to do to make it work?
My rig has a NVidia GT450 GPU.