Cryptocoin Mining?

[kly1222]

This is kind of a retarded question, but has anyone had their guiminer window simply refuse to display itself? It shows on my taskbar but it just wont display (maximize or restore) the actual window no matter what I do. It used to work just fine. The older version still works ok.

It has happened to me before on a multi monitor setup. Guiminer would keep trying to restore onto my secondary display even with it disabled in windows. Turned the display back on and there is was!

 

[v8envy]

Why and how would they do that though? They can't just go and change it like that. If he solo-mined, he would just have to have a version of the miner that didn't have that requirement.

This is possible. You can see it in action with the new merged namecoin/bitcoin implementation. As of block 24000 it'll be a slightly different algorithm for namecoin mining. The client will treat blocks < 24000 ('old' namecoins) differently than 24000. And an old version of a client would simply be incompatible with the network -- you couldn't perform any transactions until you upgraded. After being sent the 'old' coins would become 'new' coins, in a new block backed by the new algorithm.

So changing an algorithm to torpedo ASIC miners is very much possible and could happen if a single ASIC miner farm threatens the whole ecosystem.

That's why I think ArtForz will release his chips to the public, or at least promise to do so after some period. Not doing so may force the bitcoin devs (who are mostly early adopter types with substantial BTC holdings) to do a bit of fancy footwork to protect the ecosystem.

The memory intensive proof of work algorithm Joel K mentioned could be interesting. It'd swing us back to CPU mining and level the playing field somewhat. But the hard part would be balancing it vs. the diffuculty of the time. Crashing the network hash speed by a factor of 10000-100000 would not end well.

Oh yeah, like everyone I'm thinking now is a good time to cash out. I'll hit the local craigslist and see if I can sell these XFX 5830s while they still have a ~$100 value and grab a 460SE or something until the 7 series pop. If nobody bites I'll raid microcenter and offload them in a cheap crossfire gaming system with the spare win7 pro license I have kicking around. Under $13/btc is getting uncomfortably close to the "so not worth doing even at 6c/kwhrh" level.

 

[YoungGun21]

I'm also considering stopping work on my trader. If the bitcoin network is going down down down, it might not be worth my time. I realize that it is easier to capture spreads and probably more profitable when the price is lower, but if the price continues to dive that means there are serious problems. Lack of buyers being one of them. If I'm going to try to implement a trading strategy, there always has to be somebody willing to buy when I'm selling.

:|

Guess I'll give it a few days to see where it goes.

 

[soccerballtux]

my name borat and I think this is very lucrative gypsy business.

haha

 

[dajeepster]

anybody else using dwolla... i'm having difficulties with them right now..

here's what i posted in fatwallet... some else is being asked if they are a terrorist.. he's a bitcoin miner.

I'm going through something similar with dwolla right now. They wanted me to call them.. and I kept asking why. it wasn't until the third email they said that they wanted to verify that my name and address are correct. they said to call them or send a photo ID. I logged into my account and checked that my name and address were correct, and i emailed them back and told them that my name and address were spelled correctly. then they just said that I need to send them a copy of my photo ID.

I've already given them my bank information and that has been verified through thier process with the two <10cent deposits.. and i've already used thier service twice and received $14 and $240 respectively into my bank from them (a federal credit union).. but now that i've decided to transfer a larger amount ($430) they do this... so why is it that the first couple went through and this one didn't?

 

[Idontcare]

^ that's standard DHS requirement for money transfers. Banks are required to document that they do a certain amount of due diligence and detective/verification work too, all for DHS.

Why now instead of before? Likely because the transaction wasn't large enough to trigger an account audit. One time I had to wire ~140k from my checking account into a forex trading account, that set off all kinds audit triggers in the bank. I didn't get to leave for about an hour that time whereas the otherwise routine wiring of $30k and $50k weeks and months before didn't trigger anything.

Point is don't blame dwolla, they aren't happy to have to do this crap for the DHS either. It costs them (dwolla) money in terms of salaries for people who have to do the ID verification and so on.

 

[dajeepster]

^ that's standard DHS requirement for money transfers. Banks are required to document that they do a certain amount of due diligence and detective/verification work too, all for DHS.

Why now instead of before? Likely because the transaction wasn't large enough to trigger an account audit. One time I had to wire ~140k from my checking account into a forex trading account, that set off all kinds audit triggers in the bank. I didn't get to leave for about an hour that time whereas the otherwise routine wiring of $30k and $50k weeks and months before didn't trigger anything.

Point is don't blame dwolla, they aren't happy to have to do this crap for the DHS either. It costs them (dwolla) money in terms of salaries for people who have to do the ID verification and so on.

it would be nice if they stated it up front in thier email.

i'm just paranoid about giving anyone my information and always will be... i know my info is out there, but i want it in the least amount of hands as possible..

I had one of those telemarketers call me many years ago saying i had won a free cruise and they just needed my credit card information to verify my identity. I told them I wasn't interested. Then they replied that they needed my credit card information to verify i am who i say i am and that that's who they were talking to. I replied back saying, I don't need to verify with you who i am, I know who I am. they just chuckled and hung up.

 

[Idontcare]

it would be nice if they stated it up front in thier email.

Ah, that's the catch-22, they aren't allowed to say they are doing it as partial fulfillment of a DHS requirement.

(my wife's sister is upper-management at a bank)

The financial entity is required to perform due diligence checks on account verification but they are not supposed to let-on to the customer why it is happening, lest the customer actually turn out to be someone who is wanted by the FBI or CIA and they get tipped off by the bank and flee the country or some such.

 

[dajeepster]

Ah, that's the catch-22, they aren't allowed to say they are doing it as partial fulfillment of a DHS requirement.

(my wife's sister is upper-management at a bank)

The financial entity is required to perform due diligence checks on account verification but they are not supposed to let-on to the customer why it is happening, lest the customer actually turn out to be someone who is wanted by the FBI or CIA and they get tipped off by the bank and flee the country or some such.

but if i ask the reason why they require this information, they should be able to supply the reason why.

it's not like this particular email isn't public anymore, thanks to mtgox and thier prior crappy system.. .now this particular email account gets 10 spams aday (so far).. and maybe 3-4 real emails a week... thanks mtgox

i'm just even more cautious now..

 

[dajeepster]

Ah, that's the catch-22, they aren't allowed to say they are doing it as partial fulfillment of a DHS requirement.

(my wife's sister is upper-management at a bank)

The financial entity is required to perform due diligence checks on account verification but they are not supposed to let-on to the customer why it is happening, lest the customer actually turn out to be someone who is wanted by the FBI or CIA and they get tipped off by the bank and flee the country or some such.

actually... here is the last email i sent them.

I've already stated that my name and address are correct. since this is an email and is saved on a server within the united states, it is admissable in court. The money goes into my account in dwolla that has my correct name and address on it, in to my federal credit union which again has my correct name and address on it. my bank has been verified with, using the procedures set forth by dwolla. What is the real reason that you need me to call you?.. .i don't think it has anything to do with verifying my name and address, which can already be obtained in state and federal data banks.

Why do you suspect that my name and address are incorrect now when your service has already been used twice and my bank account has already been verified with your process?

 

[dust]

Looks like the bank is taking steps to protect itself from its customers.

 

[Chiropteran]

Pretty sure the dwolla policy change is a direct result of this-
https://bitcointalk.org/index.php?topic=31753.0

"Dwolla has been scammed out of at least $37,000 by our records and we have prevented another $27,000. "

 

[gorobei]

the whole bank chargeback/ pending credit issue could really hurt bitcoin.

while dwolla is fine for miners cashing in btc to get dollars out, the scamming vulnerability means any exchange will have to setup some sort of holding period to verify actual transfer of funds for anyone wanting to buy bitcoins. that makes it enough of a hassle to dissuade any non miner from using btc as a payment service and threatens bitcoin's reason for being.

 

[Zargon]

Ive had a miner that just needs an OS install to run, but havent had tiome in the last 2 weeks :/

looking at prices, I might not ever get to it now

 

[NoStateofMind]

I have a strong urge to get out of mining before it loses too much more value. But the $2 in losses the last few days makes me want to hold on for a revival to recoup most of my earnings. Oh well. Wind at my back or down with the ship!

 

[Jen]

I have a strong urge to get out of mining before it loses too much more value. But the $2 in losses the last few days makes me want to hold on for a revival to recoup most of my earnings. Oh well. Wind at my back or down with the ship!

giggles

i will go down with the ship


Jen

 

[Acanthus]

Yup, i'm holding mine.

I already cashed out plenty of them @ $15.

Here's hoping the slide will drive more people out of the mining end.

 

[hdfxst]

i think people dropping out and cashing out is what's making the price go down.When the price dropped below 15 everyone started holding on to them

 

[NoStateofMind]

looks like its crashing. $10.75/BTC

Interesting to watch http://mtgoxlive.com/orders

 

[Axon]

So mining is done, then? I was just about to order another 6850 to get into this. It seems incredibly fishy to sell something just for random computer work..I suppose if some company had a need for it, it could work.

 

[Chiropteran]

I sold my coins, but I don't see any reason to quit mining. Not unless value drops below $7 per coin...

 

[4ghz]

Bam, single digits. Honestly anyone watching the charts could have predicted this. Every bounce from a sell off resulted in a lower high. I sold every coins I mined. Hopefully it has 1 more push to get it over single digits so I can sell off my few remaining coins. You can't keep minting bitcoins and expect the price to hold. Especially since the only practical use for the stuff is to launder money.

 

[hdfxst]

I think i'm going to sit back and watch(i hope i don't regret this) and spend the day trying to get these 2 cards to work in crossfire,i've been getting the urge to play portal2 again anyway

 

[WhoBeDaPlaya]

Just brought 15x 5830 cards online. Had the cards and parts for 2 months, but was unavoidably detained :|
On the bright side, I got the cards cheap in Asia, where y'all haven't inflated the value of 5xxx cards like crazy yet

 

[dakU7]

And we're down to single digits!
I'm gonna hold my coins.. although I have a bad feeling that I shouldn't.