The Bitcoin Thread

Status
Not open for further replies.
Just ordered a Baikal Qubit x11 Miner for DASH mining, should arrive in about 2 weeks :D
 
dj2381 said:
Just ordered a Baikal Qubit x11 Miner for DASH mining, should arrive in about 2 weeks :D
Click to expand...

Did you order directly from the website ? It was out of stock the last 2 days when I tried.

EDIT: I see that's a different model
 
Last edited:
etienne_marais said:
That Cube is the latest one, good performance/power ratio. As far as the specs advertised go it seems legit.
Click to expand...

I'm gonna start with one and see how it goes after a month and maybe grab another if all goes well.
 
dj2381 said:
Payday tomorrow? how long has that taken you?
Click to expand...

2 Weeks, and my first weeks $7 I hope is going to my Coinbase wallet, can't trace the bitcoin address that I input then.

Soapbox moment
Something caught my eye on that Baikal Miner and please correct my thinking if I am wrong.
Capture.PNG

It says that unit does 150MHs for $550. The small $30 USB GekkoScience 2Pac I bought earlier in the week does 15GHs on stock USB voltage (that is 10 of those Bailkal miners), there are guys pushing those sticks to 25+GHs, with additional cooling.

Yes, I will need my PC or a RaspberryPi to run it with a powered USB bank (RPi setup still won't get me anywhere near what you paid for that, converting it to dollars I still come in under $150). Running it on a PC my power consumption is high yes but getting the RPi setup will also get me around 30W to 50W, depending on how many sticks I have and the voltage I am willing to subject them to.

Sorry, the math doesn't make sense.
 
Last edited:
jacosmit said:
2 Weeks, and my first weeks $7 I hope is going to my Coinbase wallet, can't trace the bitcoin address that I input then.

Soapbox moment
Something caught my eye on that Baikal Miner and please correct my thinking if I am wrong.
View attachment 431772

It says that unit does 150MHs for $550. The small $30 USB GekkoScience 2Pac I bought earlier in the week does 15GHs on stock USB voltage (that is 10 of those Bailkal miners), there are guys pushing those sticks to 25+GHs, with additional cooling.

Yes, I will need my PC or a RaspberryPi to run it with a powered USB bank (RPi setup still won't get me anywhere near what you paid for that, converting it to dollars I still come in under $150). Running it on a PC my power consumption is high yes but getting the RPi setup will also get me around 30W to 50W, depending on how many sticks I have and the voltage I am willing to subject them to.

Sorry, the math doesn't make sense.
Click to expand...

It's a different algorithm x11, I'm going to be mining DASH and maybe a couple of others, it's more profitable than bitcoin.

https://www.cryptocompare.com/minin...nit=GH/s&PowerConsumption=230&CostPerkWh=0.15

you can check the profitability on there, although i doubt it's 100% accurate.
 
C4Cat said:
What you're pointing out is that the ZAR side of the transaction is not anonymous, rather than the bitcoin side.
If I pay somebody for something using bitcoins, or get paid for something in bitcoins, that can be anonymous (or not, if I choose to give my personal details).

I use localbitcoins.com (as I've mentioned before) and pay cash for the bitcoins so it could be anonymous - though I use my normal email address so the person selling the bitcoins to me knows who I am (or could find out pretty easily) - anonymity is not important to me as I'm doing nothing illegal but I could choose to be anonymous if needed.

There is a bigger issue here, which relates to the blog post by Mike Hearn on why he thinks bitcoin has failed http://fusion.net/story/255949/bitcoin-failed-says-mike-hearn/

For me, if bitcoin is going to just mimic current payment methods, except you have a central exchange instead of a bank, then what's the point. Again, for me, one of the big appeals of bitcoin is that it's decentralised and requires no intermediary bank or central exchange to do transactions. If you have to fica at an exchange like luno and all your transactions go through the exchange it kindof defeats the purpose, for me. Plus, it's no longer as decentralised as it could be - as Hearn points out - "Chinese miners, just two of whom control more than 50% of the hash power." "In order to ensure your transaction goes through, says Hearn, you sometimes have to pay Bitcoin miners a transaction fee that's higher than what merchants pay for credit cards, which undermines one of Bitcoin's primary appeals."
Click to expand...
Too much effort to mask something that is transparent by design.

If you want anonymity then you use Monero which is 100% untraceable.
 
Thor187 said:
Too much effort to mask something that is transparent by design.

If you want anonymity then you use Monero which is 100% untraceable.
Click to expand...

Yes, I'm sure Bitcoin has been the de facto currency of the Dark Web because it's so easy to track people

Just out of interest, what is the point of using bitcoin for you? Is it purely currency speculation and investment? What does it offer you that traditional payment methods don't?
 
C4Cat said:
Yes, I'm sure Bitcoin has been the de facto currency of the Dark Web because it's so easy to track people

Just out of interest, what is the point of using bitcoin for you? Is it purely currency speculation and investment? What does it offer you that traditional payment methods don't?
Click to expand...
Ease of use. It made my business able to work internationally much more efficiently using a currency that clears instantly enabling us to deliver goods faster and in a more affordable manner than our competitors.

I use bitcoin everyday I'm not speculating or investing (although I hold some with the hope it will grow in terms of its value), but primarily its a currency/payment method that we use.
 
Thor187 said:
Ease of use. It made my business able to work internationally much more efficiently using a currency that clears instantly enabling us to deliver goods faster and in a more affordable manner than our competitors.

I use bitcoin everyday I'm not speculating or investing (although I hold some with the hope it will grow in terms of its value), but primarily its a currency/payment method that we use.
Click to expand...
If you hold some with the hope it grows does it not constitute speculation???
 
The_Mowgs said:
If you hold some with the hope it grows does it not constitute speculation???
Click to expand...
No, it's not nearly a vast amount to be considered that. I use bitcoins that's my primary position. Then instead of cashing them all in for ZAR I keep a few each time and let it build up. So yea okey fair enough there's a degree of speculation involved I guess, but it's certainly not my main aim if that makes sense?
 
Nalith said:
I'm pondering getting one, did your order ever arrive? Was it legit? :)
Click to expand...

Delivery can take up to 22 days, so another 2 or 3 weeks I rate, meanwhile I'm looking at building a Ethereum rig with a couple of 480s and a Ryzen CPU which can also be used by my wife for rendering her designs, happens very rarely but I'm sure it would be a good selling point.
 
Status
Not open for further replies.
Back
Top
Sign up to the MyBroadband newsletter
X