Bitcoin mining (turn your GPU into a slave)

i know 5970 at 950 core gets about 800 , 5xxx get a bit more then 6xxx from the design etc

nvidia sux my gtx 480 at 800 core gets about 130 :/
 
Nvidia is better with floating point. ATi is better with integer performance. Bitcoin mining is integer intensive that's why.

I bought 2 5830s really cheaply, wanna try this mining business. Just awaiting some more hardware.

Oh and I'd like to buy some bitcoins too if anyone's selling (PTA area)
 
Gnome said:
LOL, 2 weeks for 1 coin. A decent GPU uses around 200W of power, that alone will cost you more than 1 coin in a day.

It's a way for companies to get to use YOUR GPU and processing power with virtually no cost to them (or for bitcoin to get a lot of money from companies with no cost to them, scam anyone?).

The reality is, this currency is not backed by a large pool of assets (gold, platinum, diamonds, etc) like real currency and therefore it's value is completely artificial and likely to fall at the drop of a hat.
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No... afaik bitcoin mining uses all that power to verify past transactions. It does nothing useful outside of the system (so its not like folding@home where they do research)
 
Gnome said:
LOL, 2 weeks for 1 coin. A decent GPU uses around 200W of power, that alone will cost you more than 1 coin in a day.

It's a way for companies to get to use YOUR GPU and processing power with virtually no cost to them (or for bitcoin to get a lot of money from companies with no cost to them, scam anyone?)

The reality is, this currency is not backed by a large pool of assets (gold, platinum, diamonds, etc) like real currency and therefore it's value is completely artificial and likely to fall at the drop of a hat.
Click to expand...
The one thing that used to cause currencies to depeciate was when governments printed inordinate amounts of currency. That can never happen with bitcoin. It's scarcity is guaranteed. The currencies are backed by Gold, but gold is a commodity which itself, famously is pretty much worthless! It's value is totally imaginary today as well.
 
thetruthwillsetyoufree said:
Gnome, just to let you know, none of the world's currency is any longer backed by gold etc
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All debt is supposed to be backed by assets. I'm sure there are debts which are not (which is when a bank goes bankrupt). And a large portion of gold is still being retained by many countries as assets to back their currency. SA and USA being prime examples.

thetruthwillsetyoufree said:
Truth is if we all walked into the bank today and withdrew every cent in our accounts the banks could never supply all of us.
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The problem is that you expect the bank to keep your money as, well money. They diversify the risk. A bank that only kept your money as money would be out of business sooner rather than later.

thetruthwillsetyoufree said:
Not saying that the Bitcoin system is perfect but at lease there is no bank involved.
It's more or a barter system which IMO is a lot safer than currency.
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If it were a barter system, it would not dish out more coins to early adopters. But you can keep telling yourself it is safe.

Synaesthesia said:
The currencies are backed by Gold, but gold is a commodity which itself, famously is pretty much worthless! It's value is totally imaginary today as well.
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Worthless, why?
 
Gnome said:
Worthless, why?
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Hmm. I guess I have to think about that. Not wanting to be obtuse - I mean obviously it's worth a lot! But why? It doesn't do anything. It just sits there and it's not really that useful.

Well that's what I was thinking and then I forgot something: shiny. Jewelry. Hmm. So it's not just the scarcity.

But my theory, I guess, was that people will always value bitcoins for the same reason they value gold. We will see how it pans out.
 
Yup what makes any currency worth anything is the value that people agree to attach to that money, this is as true for Bitcoins as it is for Dollars. If everyone woke up tomorrow morning and decided that American Dollars arent worth anything then they wouldn't be worth anything. This is a gross oversimplification but I think you guys get the idea, Money is worth whats its worth because of:

Supply and demand (Dollars are only worth anything because the world as a whole has decided its a great stable currency that most international deals are based around, Bitcoins are only valuable to those who decide to "use" this currency as a medium of exchange, its value compared to real world currency will only be able to be measured by how many real world Dollars or Rands equivelents people would be prepared to part with for them. The same can be said for people who sell WoW Gold pieces / Items for dollars. Or even when someone buys a book from a book shop) It is an exchange of something both parties in the transaction value for something else they both value)
Availablity of the actual currency (highly controlled in Bitcoins case, in the case of Dollars not so much at the moment;)

Regarding the pyramid scheme likeness, its is a bit dodge that the people who started stand to make the most in real terms however how is this any different to central banks who print money and demand interest on these printed pieces of paper purely because "someone" has decided this is fair and the way to go in terms of monetary control.

All in all I think its an interesting experiment and I look forward to seeing how it pans out, I may even mine a few coins casually in participation
 
Synaesthesia said:
Well that's what I was thinking and then I forgot something: shiny. Jewelry. Hmm. So it's not just the scarcity.
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It's quite a useful metal actually:
Wikipedia: Gold said:
Gold is a dense, soft, shiny metal and the most malleable and ductile metal known. With exception of the noble gases, gold is the least reactive chemical element known. Gold is a good conductor of heat and electricity and reflects infrared radiation strongly
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It is also the third best electrical conductor after Silver and Copper. It's definitely more valuable than copper or silver. It's true other metals are more useful (platinum & titanium) but they also cost more. Gold is appropriately priced IMHO.
 
Seems the hash speed is affected quite allot if you OC your card.

Been running at 765MHz/1125MHz average 285 MHash/s
Bump it up to 960MHz/1200MHz and averaging 355 MHash/s

Although it's not worth it IMO to keep it running 24/7 with these clocks...
 
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killadoob said:
Ok so i am busy signing up and what not but when do i get paid? I only got a 460 on this pc is that fine?

When do i get paid!!!!!! :D

It won't log me, says error. Whats up? I have also noticed netlmiter does not actually see the program? Could that be my problem, there was no install i just clicked the app file
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Did you sign up with one of the mining pools?
 
Is there any work around to Nvidia cards being so nub with Mhash's? Just bought a Gtx550ti the other day and at most I get 50Mhash which suckz! If I only knew about this stuff before I bought the card :(

^And that's when I overclock it!
 
Can't seem to get my Guiminer to connect, I have an account and everything is there some settings i'm missing?

btw doesnt show my CPU or GPU
 
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