I am a little rusty with bitcoin, I mined some bitcoins back in 2014-2017 and did not mine anything for a few years.

But now I bought a small miner for my son and I want him to mine some bitcoins for himself. I am fully aware that it is not economical to mine and pay for electricity, but I do not care, I want him to make some bitcoin.

I realized that all pools that I found have high minimum withdrawals. This miner can only mine $0.5 USD per day and I wanted to get the payouts soon for educational value for him. Any recommendations for such pools?

I had a bitcoin wallet with very many unspent outputs.

Someone suggested that I "consolidate" the unspent outputs by sending a low fee transaction to myself.

I did just that and sent my entire wallet to myself in one transaction.

For a while, it was showing as unconfirmed transaction with balance.

However, now I have zero bitcoin in my wallet. The last transaction is that consolidation transaction and it says

Status: 0/unconfirmed, not in memory pool
Date: 8 Dec 2017 20:02
Total debit: -XXX BTC
Total credit: XXX BTC
Transaction fee: -0.00yy BTC
Net amount: -0.00yy BTC
Transaction ID: abcdefg000000000000000000000000000000000000000000000000000000000

So, it does not look like my money was stolen, as it would show as an unrecognized transaction, but I just do not have the bitcoins in my wallet and this is unnerving to say the least.

Should I do anything such as "abandon transaction"? Or do I just wait?

Thanks!

I am not looking to transact with any members of this forum.

I just would like to understand how people can be buying/selling with both buying and selling price above market.

I was looking to sell a couple of bitcoins.

On localbitcoins, I see several individuals who are apparently in the business of buying AND selling bitcoins.

And yet, they buy at ABOVE the market rate. For example, right now BTC trades at 652.62, but bitcoinofamerica wants to buy at 666.78.

Does that contradict no-arbitrage market laws? Is there anything suspicious about this user?

https:// localbitcoins. com/ ad /197590/sell-bitcoins-for-cash-chicago-il-usa

If you do not need AC when the door is open, then what you need to do is get rid of the AC, and instead install an exhaust fan. You will pay a fraction of the cost of electric bill.

I am very impressed with sincerity of your effort and workmanship. Much to learn here.

However, I have to question economic viability of this project, due to your need to pay for air conditioning.

Air conditioning in Dallas will probably triple or quadruple your power bill, compared to a naturally cooled installation, and cost of power may make bitcoin mining unprofitable much sooner than for those without the need to pay for A/C.

My suggestion would be to improve your fans and how they are plumbed. There should not be any opening around the fan body, where air could back flow out of the room. Same applies to the exhaust fan. Proper air flow at 80f would be far cheaper than air conditioning.

How do your S1's run at 115F ambient?

i

Thanks! How do you get the status of ASIC's (temperature, chip status etc) via SSH/command line?

I ave them all configured to accept my private SSH key, so I can connect to all of them programmatically in scripts.

I hate to be stereotyping, but to me, Winklevosses look stupid.

I am not the kind of person to judge people by looks, but I am wondering if their intelligence has somehow been ascertained.

I am curious, how long will it be before all bitcoins in their ETF are stolen?

I would hazard a guess that most of those who have responded here, do not have 3 million USD to invest in a speculative project.

Neither do I, however I (my family) is worth several million dollars, accumulated by earning, saving and investing, the old fashioned way. A part of my net worth is in liquid form and some of it is in form of real estate or capital equipment.

Consequently, I would not hold my breath awaiting an intelligent investment discussion here, especially on a topic as new and fluid as bitcoin investing. I hope that I am not insulting anybody.

On this sour note, let me continue and say that running bitcoin mining in an air conditioned data center would be prohibitively expensive for the following reasons:

1) You have to comply with various datacenter safety regulations. Proper electrical wiring for a high power density computing project is expensive. You may need to bring more power to your data center, pay for more utility transformers, etc.

While small miners or dedicated miners can skip a lot of safety gear, NEC compliant wiring, etc, an owner of a data center would have to follow all proper electrical practices required by authority having jurisdiction.

2) Assuming that your datacenter is cooled, the cost of energy required to mine, and to cool the air heated by mining, would be at least 3-4 times the cost of an un-air-conditioned miner installation.

So, the choices that you have is

1) Purchasing and passively owning some bitcoin. If you do this, it would be imprudent to trust anyone besides yourself to safekeep your bitcoins.
2) Creating some bitcoin related business.

The difference between 1 and 2 is night and day. I would expect a bitcoin related business to be an enormous hassle in terms of time commitment required. The time drain factors are regulation and money laundering hassles, thieves trying to steal your bitcoins, plus other factors inherent in any other new business venture.

So, if you want to put that 3 million to work as part of your big portfolio, it may be disproportionately time consuming to do it as a bitcoin related venture.

Realistically, this leaves the passive option as the only one viable.

I do not have an intelligent opinion on where the bitcoin prices are headed, and neither does anyone else. So please do not interpret my reasoning as a suggestion that owning bitcoins is better than owning an index fund. I am just saying that more active options may not be a good choice for a "$3M portfolio investment".

The last choice, passively investing in a bitcoin business, is only tenuously related to bitcoins and is akin to any other venture investing.

I have a small bitcoin mining farm with twelve Antminer S1's.

I want to set it up in an exemplary manner as far as management of this farm is concerned. I do it for selfish reasons, so as to make the maximum amount of money and to make it easy to manage them. Th that end, for instance, I already monitor them to make sure that I know when some of them are down. It already helped me when a cheap power strip tripped its breaker, I knew about it in an hour.

For my other (non-antminer) Linux servers, like algebra.com webservers and others, I reboot them on a regular basis, once a week. This seems to be the best strategy and it makes lock-ups extremely rare.

I am wondering if I should, perhaps, reboot antminer S1's on schedule also, such as once per week. Do antminers lock up due to software reasons, in your experience?

thanks

I have not tried to find that fan mod. It is a good question!

These machines are in a corner and the noise is tolerable.

I think that I will just live with it for the next 200 days or however it takes to make running these miners cost more in electric than their bitcoin profits.

I also wanted to mention that I wrote some shell scripts for setting up those AntMiners. The scripts connect to 192.168.1.99 an do the following:

1) Set desired IP address, routing an DNS
2) Set preferred bitcoin pool
3) Set SSH authorized keys

This is great and setting up each new antminer takes only 10 seconds.

Photos and description are here: http://www.machinerymoverschicago.com/blog/Bitcoin-Mining-Farm/

OK, guys, thanks a lot. Right now I have three antminers running. I tried a couple of things for running them: 1) a military 12v battery charger, and 2) Dell Poweredge 2950 power supply.

The Dell power supply is cheap only $12 with free shipping. It seems to work best, very easy to solder on proper connections. It can easily run two antminers.

It also accepts 110 and 220 volts without problems. The only minus is that it is loud, but I do not care too much, this being a warehouse.

I will be making "basic bitcoin mining rigs" comprised of two S1's, a Dell power supply in the middle, bolted together, and use them as my basic building block.

I will post updates once I get more of them running.

I own a 10,000 square foot warehouse that I use for various realspace purposes. I sell industrial surplus equipment, welders etc.

I have three phase 220v in my warehouse, as well as a small machine shop. I am a Linux guy (20 years) and I am comfortable with networking, ssh, scripts, perl etc.

I have gotten bit by the bitcoin mining bug and purchased a few S1's on ebay, that I am running right now.

I want to try using them to mine bitcoins, and if I lose money on this, no big deal. I have a decent amount of capital and can risk a bit of money. This is just an introduction.

To go on to a few questions.

1. What is the actual "safe" voltage range for a non-overclocked AntMiner S1? Is it OK to supply them with 11v? 14v? 13v? Anyone knows? I would like to try to run them from a three phase MIG welder, and want to gauge how sensitive they aer to input voltage.

2. If I have, say, a dozen of S1's, and set them up as separate workers in one pool, will they use 12 times the bandwidth that would be used by one worker? Or would the pool adjust difficulty?

3. I have a very poor internet connection (DSL) and this is the best I have, 2 megabit down and 512k up. I cannot get comcast here. Will I be able to keep up with my bandwidth with 20 antminers?

4. Is there a way to organize a "sub-pool" of my workers, that I can repoint to any given internet pool like btcguild or ghash, instead of repointing all my S1's individually?

5. Has anyone tried to manage those S1's by scripts. I have a bunch of servers already, that I manage with scripts and it is awesome, a huge time saver.

6. On ebay, they sell cheaply 240v power supplies "Dell FW414 PowerEdge 6950 1570W Power Supply C1570P-00 ". I really like the fact that they are 240v, as I can run three of them on three legs of three phase for good phase balance.

Can I use one of them (rated for 129amp) to supply 5 antminers S1's? The S1's, in my experience, eat about 20A per antminer. So they would consume roughly 100A. Is my math wrong?

7. Can I safely run non-overclocked S1's at the ambient temperature of 100 degrees F? This is my normal summer temperature.

8. Can I somehow set up mining so that I participate in pools on aa percentage basis. For example, I devote 60% of my resources to pool A, and 40% to pool B.

Thanks, guys! I promise that if I write scripts to manage them, I will share them under the GPL, as a token of appreciation of the open source community.