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Bitcoins!

Discussion in 'General Software' started by pantherx12, Feb 17, 2011.

  1. pantherx12

    pantherx12 New Member

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    To be honest, it depends on the card you have.

    I know folders that have run some cards for ages and ages and had no issues.
    Others have problems after only a month.

    But like I said, if it fails within waranty your covered.

    And warrantys normally last a year.

    If things go well and bitcoins DON'T just die out ( only requires more people signing up and using them to not) you could make 2600 a year. - your electrical costs.

    So if you card fails after warranty you can buy a new one with your profit anyway.
     
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  2. matteumayo New Member

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    So the "others that have problems after one month" were they using lower-end cards or something?
     
  3. pantherx12

    pantherx12 New Member

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    Mostly it would be down to bad luck, or an older componant.

    Low end stuff should still be able to perform to it's specifications.

    Sometimes it's due to overheating though, people don't normally run part of their systems for 100% all day, the ambient case temps could go up enough to increase temps of other parts of the card that normally are okay ( or parts of the motherboard)

    Say mosfets for example, you could be running near the limit @ 100% load, but 100% load 24/7 may make case temps go up 5c and push things over the limit.
     
  4. matteumayo New Member

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    Ah, that makes sense.

    I should probably be fine temperature-wise, the 5850 won't be going over 65-70 degrees. It's also quite cold :laugh:
     
  5. Arctucas

    Arctucas

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    It is probably just my cynicism, and I am not saying it is the same thing, but...

    This 'bitcoin' thing reminds me of WoW goldfarming.
     
  6. Compute4Cash New Member

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    @pantherx12 - Make sure you understand how the difficulty factor affects your generation rate and how the difficulty factor changes over time. This is a hugely important factor to include into your calculations. Right now it may look like Compute4Cash takes a large cut of the profits, but that is because of the risk that difficulty factor introduces into a bitcoin mining operation.

    Here is a good site to help you understand this difficulty phenomenon: http://www.taters.net/btcgc.php

    Based on recent generation rates, the difficulty factor is going to increase by 40% in the next few days, and then there will be another large adjustment about two weeks after that. I was a bit off before when I said it will double, but that is because this doubling will be split over the next two adjustments, not just the next one adjustment, due to the timing of the slashdot article. This means that your generation rate will drop by 40% in the next couple of days, and will be less than half of what it is right now in a little more than two weeks.
     
  7. pantherx12

    pantherx12 New Member

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    40% loss is still more than you pay out dude :laugh:

    Especially after you go down to 10c again : ]


    I've done plenty of math by the way, yes the stuff I've stated here is based on best case.

    But you have to bare in mind, you not taking into account supply and demand.

    Whilst the difficult rate is going up, I bet slowly but surely the value of a bitcoin will go up too.

    After all, that's how ecomys work. ( if it doesn't fail of course, it's a risk, but a calculated one, just like your one eh?)


    Excuse my spelling, 5 am in the morning and dyslexic do not a good combination make.




    You have to bare in mind we know your using bitcoins now so if it's good enough for you why not others?

    Hell I don't even need to subsidise, I can get gpus for very cheap and have already worked out what ones I get best bang for buck for.
    ( sorry if I came accross rude their, tired and cranky)
     
    Last edited: Feb 18, 2011
  8. Compute4Cash New Member

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    As Easy Rhino pointed out in the other thread, there is a good deal of risk involved in all of this. If you can handle it, and you are willing to play the game, then yes, you should be able to do what we do. Compute4Cash is intended for people who don't know about Bitcoin, people who don't want to know about all these details, and for those who just don't want to spend their time playing this game or expose themselves to any real risk of losing money.

    Please do give it some more thought though before you buy hardware solely for bitcoin mining to make sure you really understand all the figures and the risks. Even at $0.15/kWh there is a very real possibility that you will not be able to pay off your hardware purchase. There really is a good reason that Compute4Cash takes a larger share than most other Bitcoin pools, and it is not greed - it is to offset this risk and provide a stable and easy to use service to our users.
     
    Last edited: Feb 18, 2011
  9. pantherx12

    pantherx12 New Member

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    Aye I won't be investing in additional hardware ( cept what I already wanted anyway) unless I start making some decent amount of coinage per day :laugh:

    Also, even with your system I could make £100 profit in each 6 month period. ( this is at 10c per wu)

    If you didn't have a 600usd cap I would probably stick with your program for convience sake.

    As I could just invest in another few 6870s. say 2 of them?

    And make that money in 2 months instead, means after 2.5 months I could buy another.

    And so on, every now and then buying a gpu :p until me yearly rate is actually decent.


    But there is a cap so noy joy : [
     
  10. Compute4Cash New Member

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    Right, there is a $600 limit. We cannot pay more than $600 to any one Compute4Cash account or any deposit account in a year. If someone is really serious and is going to far exceed that figure with their Compute4Cash account or their deposit account then we will be willing to work with them to fill out the appropriate tax documents.
     
  11. Easy Rhino

    Easy Rhino Linux Advocate

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    tax documents? do you treat each person as contracted? how does that work with different laws per country?
     
  12. Compute4Cash New Member

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    For US users, if we were to pay one account more than $600 in a year then we would have to issue a W9 to collect the user's info so that we can issue a 1099-MISC at the end of the year, and then the user would have to file that 1099 with their taxes.

    For international users, $600 is still the threshold, but we may have to use different forms to report the income. If we pay less than $600 to an international account then we do not have to issue any paperwork.

    In every case, especially internationally, it is the user's responsibility to ensure they report the income to their government properly - international users will have to consult their tax laws to find out what is required in their country.

    Compute4Cash has determined that it would be best to just avoid all this paperwork by not allowing any one account to receive more than $600 a year. We can make exceptions if it is worth the administrative overhead of all this tax law.
     
    stinger608 and Easy Rhino say thanks.
  13. Easy Rhino

    Easy Rhino Linux Advocate

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    i cannot blame you there. the tax documents would be way to much hassle and make the whole thing pointless. i am glad i know though why you chose $600 limit though. it makes more sense now.
     
    stinger608 says thanks.
  14. TheMailMan78

    TheMailMan78 Big Member

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    Is there anyway you could wire the funds to Nigeria?
     
  15. Compute4Cash New Member

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    LOL! You're funny...

    Sorry, but Compute4Cash is a legitimate US business and we will not engage in any sort of tax evasion. It just doesn't make sense to do so, there are better ways of handling these things.

    If you're asking if we can do wire transfers in general, the answer is 'not right now'. If there is a demand for them we may look into it in the future.


    Alright, well we're pretty far off from the original topic, so let's put an end to this thread-jacking ;) You can always email _s u_p+p__o_ r _t_@_ compute4cash.com with any questions you have and we'll answer them as soon as we can.
     
    Last edited: Feb 22, 2011
  16. AphexDreamer

    AphexDreamer

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    @PantherX
    I just started doing Bitcoin as well.

    With a 5870 doing 305 M Hashes/s would it be better to go solo or join a Pool?

    I have currently joined a pool but still considering going solo.

    Are you going to join a pool?
     
  17. pantherx12

    pantherx12 New Member

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    Ahh got the gpu client set up nicely did you?

    Doesn't work for me :laugh: rpcuserpass supposdely isn't set up although it is.

    And I'm thinking of going solo.

    Although at only a %2 hit with some of the pools why not.

    I'm still in two minds about what is best myself actually :laugh:
     
  18. AphexDreamer

    AphexDreamer

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    Interesting, did you make your own batch? Also I thought the GPU client was for the pool only. Thus you must make an account with the pool and have your User and Pass match not only BitCoin but your account with the pool as well.

    Idk I could have it all wrong but its working for me :)
     
  19. pantherx12

    pantherx12 New Member

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    I don't think it is, it would surely state clearly if that was the case.

    Not seen anywhere that says a pool is required.

    You are using python OpenCL bitcoin miner right?
     
  20. AphexDreamer

    AphexDreamer

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    m0mchil's GPU miner
     
  21. pantherx12

    pantherx12 New Member

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    Aye same one I'm trying.
     
  22. AphexDreamer

    AphexDreamer

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    I just don't know if the Pool or solo is the way to go and its bugging me :p

    You can use this Bitcoin Generation Calculator to find out the probability you have of generating a block.

    I could make 50 with in about 5 days, I just don't know how to calculate the pool yet. Someone on the site said the pool i'm in gives about 12 BTC a day. So, if true it would be roughly the same :/
     
  23. pantherx12

    pantherx12 New Member

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    Takes me 6 days to do the same. ( if I can get gpu client working grr)

    I'm thinking those with high end cards, like us ( although mines technically marketed as gamer rather than high end) can probably stick to solo tbh.

    Have you tried running without the pool set up to see if a pool is required for gpu client.

    As that's the only thing I have different from you really.
     
  24. AphexDreamer

    AphexDreamer

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    Well since I started in this pool I'm going to see how much I make in 5 days with the pool and then probably go solo and see how long it takes. Luck also plays a roll so it might take longer with solo. With the pool you can get coins faster (If I understand how it works correctly).
     
  25. yogurt_21

    yogurt_21

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    so 5 days to make something that may be worth 50$? you could make 6 times that just using your word processor to make flyers for a business.

    there are plenty more profitible ways to use your rigs to make money trouble is a real job will always win out. (think benefits)
     

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