Cryptocoin Mining?

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thilanliyan

Lifer
Jun 21, 2005
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That sounds way off, even before fees.

A single HD6970 (~390MH/sec) produces 6.39 BTC per month before any fees ==> 0.213 BTC per day. So it needs ~5 days to make 1 BTC.

Yes I checked my 2 days ago and yes I am down to about 0.35-0.4BTC per day (for TWO cards) so it would take about 3 days for 1 BTC. I was definitely hitting about 0.5 BTC per day on average a short while ago. I think more people have started mining again, which means less to go around I presume.
 
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LightRider

Senior member
May 10, 2001
372
1
81
rgvzgm.blogspot.com
Yeah, at 57mh/s he's likely to build up a significant nest egg there. It would be terrible if that was lost.

Given the nature of bitcoin, a small amount could prove to be highly valued in the future. Sure, today, we can throw away pennies and feel it's fine because of their decreasing value due to inflation. Bitcoin is not inflationary, and therefor will not be subject to dwindling valuation.
 

RussianSensation

Elite Member
Sep 5, 2003
19,458
765
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Yes I checked my 2 days ago and yes I am down to about 0.35-0.4BTC per day (for TWO cards) so it would take about 3 days for 1 BTC. I was definitely hitting about 0.5 BTC per day on average a short while ago. I think more people have started mining again, which means less to go around I presume.

Ya, some time ago a single HD4890 was making 1 BTC per day. ^_^ It's getting harder, much harder.
 

yours truly

Golden Member
Aug 19, 2006
1,026
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I don't know whether I've missed the boat on this. Is it worth investing in a new rig for it?

I've been bitching to my friends how much I hate living where I do but one upside is Westfield shopping group down below picks up our electricity bill. I could use as much electricity as possible all day, ever day and they wouldn't bat an eyelid and it doesn't cost me a penny.

Would spending £1400 on a pc with 2 7970's be a bad idea, and what sort of spec would I need?
 

Smartazz

Diamond Member
Dec 29, 2005
6,128
0
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I don't know whether I've missed the boat on this. Is it worth investing in a new rig for it?

I've been bitching to my friends how much I hate living where I do but one upside is Westfield shopping group down below picks up our electricity bill. I could use as much electricity as possible all day, ever day and they wouldn't bat an eyelid and it doesn't cost me a penny.

Would spending £1400 on a pc with 2 7970's be a bad idea, and what sort of spec would I need?

Not worth investing into unless you want dual 7970s for gaming anyway.
 

RussianSensation

Elite Member
Sep 5, 2003
19,458
765
126
I've been bitching to my friends how much I hate living where I do but one upside is Westfield shopping group down below picks up our electricity bill. I could use as much electricity as possible all day, ever day and they wouldn't bat an eyelid and it doesn't cost me a penny.

You don't need to spend 1400 on a new PC. Just get 2 HD7950s or a single HD7970 and go from there. Your current PC is just fine (your PSU is good enough for 2x 7970s). Sell your GTX580 card to offset the upgrade cost. In 3-4 months of mining, the added bitcoins you'll make will pay off for the rest of the 7970. It's really a no brainer since you pay $0 for electricity costs. Worst case scenario you'll end up with a free HD7900 series card. There are still at least 2-3 months of easy bitcoin mining, that's assuming new powerful ASICs reach the market in October. Also, if you wanted faster performance in games, well it would be just an added bonus too. At current US prices over here, it's better to get 2x HD7950s (i.e., MSI TwinFrozr than a single 7970 for $450).

In another thread, someone said HD7950 was going for £240-250 in the UK. That sounds like a good deal, especially if it is for MSI TwinFrozr 7950, Sapphire Dual fan, PowerColor PCS+, Gigabyte Windforce 3x, Asus DirectCUII versions of the 7950. The MSI 7950 is a mad overclocker.
 
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yours truly

Golden Member
Aug 19, 2006
1,026
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Many thanks for the replies.

You don't need to spend 1400 on a new PC. Just get 2 HD7950s or a single HD7970 and go from there. Your current PC is just fine (your PSU is good enough for 2x 7970s). Sell your GTX580 card to offset the upgrade cost. In 3-4 months of mining, the added bitcoins you'll make will pay off for the rest of the 7970. It's really a no brainer since you pay $0 for electricity costs. Worst case scenario you'll end up with a free HD7900 series card. There are still at least 2-3 months of easy bitcoin mining, that's assuming new powerful ASICs reach the market in October. Also, if you wanted faster performance in games, well it would be just an added bonus too. At current US prices over here, it's better to get 2x HD7950s (i.e., MSI TwinFrozr than a single 7970 for $450).

In another thread, someone said HD7950 was going for £240-250 in the UK. That sounds like a good deal, especially if it is for MSI TwinFrozr 7950, Sapphire Dual fan, PowerColor PCS+, Gigabyte Windforce 3x, Asus DirectCUII versions of the 7950. The MSI 7950 is a mad overclocker.

Appreciate your response RussianSensation. I was under the impression bitcoining would slow my pc to a crawl but I guess I could just stop the program from running when gaming.

Your post has really got me thinking. Thank you.
 

RussianSensation

Elite Member
Sep 5, 2003
19,458
765
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Appreciate your response RussianSensation. I was under the impression bitcoining would slow my pc to a crawl but I guess I could just stop the program from running when gaming.

Oh, of course don't run it when you are gaming.

I use GUIMiner (Application that actually lets you do the work), AMD Stream SKD 2.7 (the GPU needs this for Compute functionality with the Catalyst drivers) and this bitcoin wallet on my desktop (This is like your "bank account", encrypted with a password). Alternatively, you can use an online wallet for a small fee. The rest involves just setting up an account at any of the mining pools you plan on mining (think of this as you going to work to get paid). The places whereyou mine are selected from a drop down menu in GUI Miner. All you have to do is enter a Username and Password in GUI Miner for a pool you are mining and you are done! The GPU does the rest.

For mining pools, I found that BTCGuild.com gives the most consistent rewards (and you can pay out of it any time as many times as you want), with Deepbit.com (allowed to withdraw once every 24 hours only) and MTRed.com (takes slightly longer than others to process the reward but has the lowest fees) following next. Slush's pool is often too inconsistent. As a bonus, Bitcoin mining hardly uses your CPU, which means with power saving states, your CPU can run at 1600mhz when you aren't gaming. There is no need to run the CPU at 4.5ghz when mining as it adds nothing.

In GUI Miner, to get optimal performance on HD7970, I use Extra flags -w 256 -f1 (If you set up GUI Miner you'll see where to put them).

The "-f1" flag determines the GPU priority. If you are doing other tasks with the GPU (other than gaming where you'll probably want 100% GPU speed), you can change it to f12, f20, etc. (the higher the number the less GPU priority, so your system doesn't need to be unresponsive when browsing the internet, actually even with -f2 it's fine for that).
 
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yours truly

Golden Member
Aug 19, 2006
1,026
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Awesome thank you. I think I want one 7970. I like the Lightnings so might grab one. Battlefield is still important to me and I'd rather avoid any crossfire issues while gaming and hopefully it'll overclock well and stay reasonably cool and quiet too.

I'd like to pull the trigger on one very soon. Good call you think?

edit: I went ahead and ordered it. Thanks for your help RS. I'll be reading and re-reading your posts and all 106 pages of this thread too.. at some point.

Cheers!
 
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thilanliyan

Lifer
Jun 21, 2005
12,042
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Hey Russian, you think Btcguild would be better to go with? What is your average btc per day at your hashrate?

I'm in slushs pool right now I think...bitcoin.cz. I am getting about 0.35btc per day at 650 Mh/s.
 

RussianSensation

Elite Member
Sep 5, 2003
19,458
765
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edit: I went ahead and ordered it. Thanks for your help RS. I'll be reading and re-reading your posts and all 106 pages of this thread too.. at some point.

Cheers!

Let me know if you have problems setting it up. There a ton of users here who can help you and some of them may even recommend better pools or maybe their experience will differ from mine. Also, my other posts regarding trying to predict the value of Bitcoin and ASICs are purely subjective/guessing (it was more of a discussion and not supposed to come off as factual - don't pay much attention to those :D).

Keep us updated regarding overclocking on that Lightning card.

Hey Russian, you think Btcguild would be better to go with? What is your average btc per day at your hashrate?

I'm in slushs pool right now I think...bitcoin.cz. I am getting about 0.35btc per day at 650 Mh/s.

Ya, I use Slush's too sometimes (when the pool luck rate hits 40-50%, because then it can ramp up to 130-150%+ and from 40-> 100% you get a higher reward rate). But because the opposite happens when Slush's pool hits 130-150%, you lose a lot of efficiency when it drops back down to 40-60% (it's like a roller-coaster). This is why it makes it difficult to measure Slush's average rate. Some days I get 0.35, others barely 0.30.

Last week I again tested the pool efficiency and I keep getting the same results @ 680Mhash/sec in terms of pool rankings. I don't reach 0.35BTC because my system is not always pegged at 99% since I use my PC for other things too (running the internet, watching movies/videos, etc.). That's why your system is probably beating mine if your GPUs are ALWAYS mining and doing nothing else at all.

I decided to do a 2-day average to get a more consistent reading (1150mhz 7970) and over those periods did no gaming or anything GPU intensive (but still browed the internet, watched youtube, etc.).

All 2-day averages are after fees:

BTCGuild = 0.686 (or ~0.343 per day) (after 5% fee)
MTRed = 0.677 (or ~ 0.3386 per day) (I put a manual fee of 0.5% here)
Deepbit = 0.655 (or ~0.3275 per day) (using the Pay-per-Share method)
Slush's Pool = 2-day average isn't consistent enough for this pool (the highest day I got was 0.34336496). But then I got 0.29076656 and 0.30387096.

I am going to Washington next month for 5 days. I am thinking of testing 1 of these pools again for 5 days straight with GPU at 99%. I am leaning towards Slush's Pool since it's so inconsistent and testing it for 5 days would give a better daily average.

If you have been running Slush's all this time, it doesn't hurt to try another pool. 0.35 BTC / day is very good though for 2 stock 6950s if that's your true average (and not a good day at Slush's).

Using this calculator, 650 MHash rate would give a maximum of 10.65 BTC per month (0.355 based on a 30-day month). You are getting 98.6% efficiency according to that (0.350/0.355), which is incredible. For example, the current 30-day efficiency of Slush's is just 94% using today's data.....and their 7-day average is a disappointing 91%. :D
 
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Chiropteran

Diamond Member
Nov 14, 2003
9,811
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I haven't done any deep analysis but I have been sticking with btcguild lately as well. I used to like slush's, and I tried eclipse for a time due to it's lack of fees, but ended up going back to btcguild because it seemed to give the best results over time, despite the fees. I think any pool that isn't pay per share is subject to pool hopping, and the pool hoppers effectively take away from your earnings, which is why even the zero fee pools seem to do less overall than pools like btcguild.

Also, the consistence of pay per share is a great way to get feedback on your mining. When you add a new mining rig and notice the bitcoins coming in that much faster it's a nice feeling of gratification, with a more random flow of BTC in a standard pool you don't get that.
 

thilanliyan

Lifer
Jun 21, 2005
12,042
2,257
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Is Slush's pool PPS or no?

Am I even in Slush's pool? I mine through bitcoin.cz.

Sigh...my average has gone down to 0.3 now. Before July 15th I was at 0.35 and higher. And yeah I am mining 99% of the time...just don't have time for much gaming anymore...at this rate it will take several years to go through my Steam backlog lol. :D

I may try BTCGuild just to see how it is.
 

thilanliyan

Lifer
Jun 21, 2005
12,042
2,257
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I sold my 2gb 6950 for $170CAD to offset the purchase of the MSI 7950 TF3!!

Hope my 7950 overclocks! :D

My other 6950 will just keep mining.
 

RussianSensation

Elite Member
Sep 5, 2003
19,458
765
126
Sigh...my average has gone down to 0.3 now. Before July 15th I was at 0.35 and higher. And yeah I am mining 99% of the time...just don't have time for much gaming anymore...at this rate it will take several years to go through my Steam backlog lol. :D

bitcoin.cz = Slush's pool. It's a proportional pool, not pay-per-share which means your reward varies all the time. Having a steam backlog can be good. You end up saving $ by buying games on the cheap since you didn't buy them on day 1 (Metro 2033, Fallout:NV, $5, etc.) and also by the time you get around to playing some of those games, your GPU crushes them. Also, a lot of those games may have free DLC and all the patches/fixes already incorporated. At the same time, the allure of upgrading GPUs for nearly free is hard to pass up. Even if BTC mining fails, worst case you'd end up with a paid off 7950 and that backlog of Steam games OR you could have gone with a GTX570 and possibly found yourself with a card choking on 1.28GB of VRAM in 2013. The longer GPU mining is profitable, the better going with AMD becomes. Even if GK110 is 20% faster than HD8970, that HD8970 upgrade will be more or less free for HD7970 users. Can't beat free. ^_^

I am looking at mtred right now, no-fee pps pool.

https://mtred.com/

Seems promising.

Ya, I am going to give that one a 2nd try. It seems promising. I am scratching my head why I got a higher 2-day average at BTCGuild vs. MT. Red:

Current PPS Rates
BTCGuild = 0.00002545018701869008 (after 5% fee)
MTRed = 0.0000267896661681 (assuming 0% fee)

In theory, MTRed should beat BTCGuild without a problem.
 
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Feb 25, 2011
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I'd really like to know why my hash rate goes from 280/sec when I'm sitting in front of the computer at home to 400/sec when I check my 15 minute average at work. (bit clockers)
 

RussianSensation

Elite Member
Sep 5, 2003
19,458
765
126
Is there some way to calculate your daily income based on the PPS rate and your hashrate?

I found 2 calculators that use your hashrate and the current difficulty rate. It's not exact, but very close. For example, if you put in 650Mhash/sec, with the Basic Calculator, you get 10.65 BTC. To get the monthly rate for BTCGuild, just subtract 5% fee that pool charges ==> 10.65 * (100% - 5%) = 10.12 BTC per month is what you'd get mining non-stop.

Basic calculator
Advanced calculator with electricity costs

I'd really like to know why my hash rate goes from 280/sec when I'm sitting in front of the computer at home to 400/sec when I check my 15 minute average at work. (bit clockers)

It could mean when you are at home and doing things, the mining application shifts GPU priority (for example watching Youtube, browsing/20-30 Tabs open, watching a movie on the computer, etc.).

With programs such as GUIMiner, you can set the "f" flag that forces GPU priority (-f0 or -f1 giving the most GPU priority for mining and something like -f20 or -f60 giving the mining application LESS GPU priority (i.e., the higher the #, the less GPU is used for bitcoin mining).

You can monitor GPU usage in MSI Afterburner when you are at home. If the GPU usage drops from 99% to the low 90s and 80s, that explains why you get lower hashrate when you are using the computer and mining. Force the "f" flag to say -f6 would allow you to still browse the internet and mine at the same time without problems. On my computer, even -f1 is fine. For my system, I found the best performance in GUI Miner is using Extra flags -w 256 -f1 (with 6900 series the -v also helped, but it seems to slow down 7900 series for some reason).
 
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thilanliyan

Lifer
Jun 21, 2005
12,042
2,257
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I found 2 calculators that use your hashrate and the current difficulty rate. It's not exact, but very close. For example, if you put in 650Mhash/sec, with the Basic Calculator, you get 10.65 BTC. To get the monthly rate for BTCGuild, just subtract 5% fee that pool charges ==> 10.65 * (100% - 5%) = 10.12 BTC per month is what you'd get mining non-stop.

Basic calculator
Advanced calculator with electricity costs

Thanks. Sorry I should have just googled that.
 

Despoiler

Golden Member
Nov 10, 2007
1,968
773
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I'd really like to know why my hash rate goes from 280/sec when I'm sitting in front of the computer at home to 400/sec when I check my 15 minute average at work. (bit clockers)

That is because your miner's rate is real and your pool's rate is estimated in that 15 minute period. Your miner is giving you the correct rate.
 

MrTeal

Diamond Member
Dec 7, 2003
3,917
2,704
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Just a note, Slush's pool is score based and not pure proportional. Deepbit is the only large prop pool left, as far as I know. Slush's scoring system cuts down a lot on hopping vs a pure prop pool, but doesn't eliminate it. He's planning on transitioning to a double geometric scoring system that should make the pool hop-proof, but that's been in the works forever and there doesn't seem to be much progress towards it.
 

thilanliyan

Lifer
Jun 21, 2005
12,042
2,257
126
So overall, is the only disadvantage to using a pool such as Slush's vs. a PPS pool the fact that your payout is not always consistent day to day?
 

Mir96TA

Golden Member
Oct 21, 2002
1,950
37
91
May its time to put my Good'ol 5870 and 6970 to do some work ?
or May bell sell 5870 and get 7970 ?
I am thinking about joing Eclipse
They appears to be a very good Pool
What you all think ?