Cryptocurrency
It depends on the pool. My experience has been that Proportional averages better for a small hash rate. It's riskier, though, as you get nothing if the pool got nothing.
I'd recommend trying each one for a week and seeing which did better.
I'd recommend trying each one for a week and seeing which did better.
"ATTENTION: Customers browsing porn must hold magazines with both hands at all times!"
There isn't much inherent value in it. It is a p2p network, so some of the mining/CPU, I assume, maintains the network.GORDON wrote:What does "mining" actually accomplish, out of curiosity? Why is there value in it?
Otherwise, it's just the fact that people will pay for the output.
It's not me, it's someone else.
Indeed, most of the cycles are wasted on an arbitrary cryptography problem, the first to solve it getting the reward. But the main purpose of that activity is to maintain the network.
As to my mining, it's been minimum. I mine BTC through deepbit, but it runs automatically at night while I'm asleep and I haven't been paying attention to the output in awhile. I just notice 0.1 BTC hitting my wallet every couple of months from it.
Whenever I have a non-lazy evening, I'll get my new sheevaplug doing mining and then do some tests to see what is best.
As to my mining, it's been minimum. I mine BTC through deepbit, but it runs automatically at night while I'm asleep and I haven't been paying attention to the output in awhile. I just notice 0.1 BTC hitting my wallet every couple of months from it.
Whenever I have a non-lazy evening, I'll get my new sheevaplug doing mining and then do some tests to see what is best.
"ATTENTION: Customers browsing porn must hold magazines with both hands at all times!"
Mining is for people with more time than I have.
It's taken me about 2 hours, but I finally got a modern video card working. The old ones worked in just a few minutes. But the newer ones are finicky. Like driving a Ferrari instead of a Toyota. Higher performance, but a pain in the ass to get there and make it run optimally.
It's taken me about 2 hours, but I finally got a modern video card working. The old ones worked in just a few minutes. But the newer ones are finicky. Like driving a Ferrari instead of a Toyota. Higher performance, but a pain in the ass to get there and make it run optimally.
It's not me, it's someone else.
Maybe the money is in supplying the miners. I bought 2 $300 video cards. Resold one for $419 (net of fees/shipping it'll be about $350). So that was a pretty easy $50 to make.
I put it up on eBay a few days ago, got about 12 page views. Last night I added "MINE LTC! LITECOIN" to the description, and got 50 more views and 3 people following the auction in less than 1 day,.
Edited By TheCatt on 1387061393
I put it up on eBay a few days ago, got about 12 page views. Last night I added "MINE LTC! LITECOIN" to the description, and got 50 more views and 3 people following the auction in less than 1 day,.
Edited By TheCatt on 1387061393
It's not me, it's someone else.
Running it now. On aggressive settings it kept crashing, but getting 80kHash on basic settings.TheCatt wrote:If you want to try mining litecoin, this card is $15 after rebate, and can mine decently. I would guesstimate 0.04LTC / day, which is $1.4/day at current prices, pay for itself in a month. Eletricity is not included.
That should make 0.8LTC in the first month, degrading over time with increased difficulty.
So it'll return $24 in the first month, at $30/LTC, so net profit of $9.
It's not me, it's someone else.
Just don't do it on MtGox. Or at least for sure don't sell there. Their handling of USD is a mess.
Today I got notice that my attempt to withdraw had been cancelled (per my request) and my account had been credited back with USD. Except it hasn't been credited. So, another ticket submitted, another two weeks wait for a response. *sigh*
Edited By TPRJones on 1387244514
Today I got notice that my attempt to withdraw had been cancelled (per my request) and my account had been credited back with USD. Except it hasn't been credited. So, another ticket submitted, another two weeks wait for a response. *sigh*
Edited By TPRJones on 1387244514
"ATTENTION: Customers browsing porn must hold magazines with both hands at all times!"
China news
Sources close to China’s Central Bank today reported that the institution has banned third-party payment companies from doing business with bitcoin exchanges.
A reputable source told CoinDesk that the People’s Bank of China (PBOC) met with most of the top third-party payment companies this morning.
The source said the meeting topic was unrelated to bitcoin, but digital currency became an important part of the discussion.
“PBOC, in no uncertain terms, directed third-party payment companies not to do business with bitcoin exchanges in China,” they explained.
At the moment, these claims are still rumours, as neither the PBOC nor any payment company has issued a statement to confirm what was discussed and what the outcome was. However, our source revealed they got their information from various channels, including those people who were at the meeting.
It's not me, it's someone else.
I don't plan on selling.TPRJones wrote:Just don't do it on MtGox. Or at least for sure don't sell there. Their handling of USD is a mess.
I just like having the cyber currency.
I was going to transfer my BTC to LTC, but never did.
I'm glad I didn't.
If I sold I'd probably go back to Localbitcoins.com and do a cash sale.