sorry ive been MIA guys been mining litecoins and bitcoins

[NerdLifeAMD]

so hey all ive been absent but im not gone. Ive been using the bonic beast i built to farm litecoins to pay for itself and i have to say its pretty exciting.
I also have a ASIC miner blade due here on the 22nd I ended up with 10 5850s for 50 bucks each im very happy with them for the price im sure the difficulty will be at a point in a few months where they wont be worth mining with anymore and ill point them back to the team. if the current trend continues im sure ill turn a profit on the entire rack. Im really after the bitcoins anyway i see the litecoins as a means to afford 10gh ASIC miners they are about 200 to 400 depending on where you look. they were only 185 2 weeks ago but i did not have the cash and the person i was talking to to get some in bulk was out of them by payday. Im also working 68 - 84 hrs a week back at the car factory I know it sounds like alot but they pay well and i got tired of crunching on junk I complicatedly ditched the idea of crunching on these 8350 when compared to the hashrate of a gpu. Ive also had a crash course on config files and it will hopefully make me a better cruncher upon my return if im able to edit some of the things ive learned from hashing the coins. I haven't forgot about sending the cds ( you know who you are ) and again my tshirt guy looked at the meta cafe and said he could do about half what they charged and in vyinl not that iron on crap im gonna try real hard to catch up with that ... he also takes lite coins and bit coins as payment ....just saying.....few days of crunching on a decent gpu gets you a shirt.Im not trying to encourage anyone to jump ship on boinc but if you need a break and maybe to have that gpu 3 weeks on bonic and one week mining it may help pay some of that power bill you build up crunching. anyway miss you guys. if anyone wants some info on lite coins the difficulty is still pretty low ive done weeks of reading into it ive found a great, honest no fee pool PM me and ill send you the links to our site the best software ( IVE TRYED THEM ALL ) and help you get started . at this point gpu mining bit coins is a waist of time it would take 30 ... yes 30 5850s ...make that 33 to get the same hashrate ans one 10gh asic miner so its not really an option. i did see one boinc project for mining litecoins but they keep um its too bad if you guys are interested we can create our own project and farm as a team keep 80% and donate 20% or something the more people the faster the block. and get our boinc credits at the same time anyway ttygl


you know i posted this before i read dirks post about his power bill it make me pretty sad. Ive met several really nice people here and when i ask why they aren't rocken it in the challenges its always the power bill issue it was my issue as well. we all are pretty passionate about crunching and its just a bummer. I would like to call for a motion for some serious dialog about creating our own mining pool we all have the equipment .but im just one dude in bf Tennessee what do you guys think

[drezha]

Played with mining Litecoins - didn't realise the GPU miners would work on them still - not that I have one I'd use for it.

Had a few Bitcoins in the past - sold before they skyrocketed in price. I was treating them like the stock market though - that was one I played and lost!
Now I stick to Peer to Peer lending (Zopa, Ratesetter).

[NeoGen]

Hey NerdlifeAMD!

You're not the only one... I plead guilty to the same charges.
I have been somewhat absent from crunching as I try and experiment with the bitcoins and litecoins as well, but honestly I think we lost that train 2 years ago already.

I got a Butterfly Labs Little Single to play with (What a nightmare it was to get it!) plus a Radeon 7970, and also use the CPU for some of the minor coins... all in all I still don't know if it's even paying for the light bill, I didn't go as far as actually converting them to USD on an exchange and trying to withdraw, that will be a whole different challenge.

From my research, before this "bubble" the bitcoin price is going through right now, there were really no devices that would even pay for themselves, but mining pools, exchanges, etc are the ones who actually may profit some out of it, so forming a pool may be the most profitable idea, supposing we can get more people to join in other than ourselves.

By the way... you know that if by chance the bitcoin had been created with the RC5-72 encryption instead of SHA256, at this point in time Distributed.Net's RC5 project would have been long finished by now right? (Instead of having 100+ years estimated completion time)

[Dirk Broer]

Read today on AnandTech:

"To put things in perspective, the hash rate in January of 2013 was around 23.25 THash/sec, with a difficulty of 3,249,550. The current hash rate for the Bitcoin network is now 267,731,249, with a hash rate of 1916.5 THash/sec.

Put into ASIC mining rates, the much-delayed Butterfly Jalapeno ASIC rated at roughly 5 GHash/sec would have generated around 23.5 BTC/month in January; with a Bitcoin value of $13-$21, that works out to $300-$450 per month. Today that same 5 GHash/sec hardware generates around 0.30 BTC/month, or $50-$70 depending on what Bitcoin price you want to look at for the past ten days.

In terms of efficiency, the Jalapeno is still generating more money in BTC than it uses in power (45W means a power cost of $3.25 per month at $0.10 per kWh), but with the network difficulty skyrocketing we're only a few months away from the break even point for BFL's Jalapeno, and other ASICs will inevitably follow suit. (The HashFast 28nm ASIC appears to be ~10X as efficient as the BFL Jalapeno.)"

From the HashFast site:
"HashFast’s Golden Nonce (GN) is a high performance 28nm ASIC. It performs 400 Ghash/s at nominal clock speed and consumes less than 0.65 W/GH*. This makes it one of the most powerful and efficient designs on the market. The chip has on-die thermal controls to allow operation at its absolute maximum performance – the more cooling you can provide the chip, the faster it will mine for you."

This picture hashfast.jpg shows a model with three asics that is cooled by 2x 120mm air coolers as intake and three 120mm push-pull watercoolers as exhausts.
Me personally I would change that to 2x 280mm radiators at the sides -would have to mod the casing- and a 360mm radiator at the back (for the lower ASIC), all in push-pull.
For an eventual fourth ASIC I would have to install another 360mm radiator in the lid, making money while others plug their ears.....

Perhaps a phase-change cooler can earn it's pay here....you might be able to change the water with liquid nitrogen then.
The ASICs are guaranteed to work better the better they get cooled...

[Dirk Broer]

Sign of the times?

At present people are dumping their -first generation- ASIC bitcoin miners here on the 2nd hand market, probably to obtain cash for the 2nd generation .
http://www.marktplaats.nl/z.html?que...scription=true