Cryptocoin Mining?

[RussianSensation]

WOW- there's still people out there chasing this dragon?

For as long as it works, why not?

HD7970 $0 > $500 GTX680. Well maybe some NV owners might disagree.

 

[taltamir]

everyone mining should really drop the endeavor and purchase some solar panels- you know, something that is actually productive for societial benefit?

https://en.wikipedia.org/wiki/Solyndra

 

[Comdrpopnfresh]

Have you even read anything about Bitcoin? Or any posts in this thread?

Unless something changed around pages 34-112 on this thread, then I'd say I'm up to date- bunch of sites out there offering you an easy in, given you provide real money, and nothing much in the way of BTC->USD in the form of a direct deposit to a brick/mortar bank except for a p2p transfer from an exchange transaction.

Either all the miners are unwittingly aiding in a very well developed large-scale malicious project, a proof of concept idea w/ no traction in physical reality, or its just one of the more really really lame ways in which we're exhausting our planetary resources.

I decided not to mine any further when it looked like there was a 0% chance to invest what I mined. I'll pull a reverse when I can buy stocks or other classical investments that gain interest for keeping BTC somewhere. Until that time, everyone is just passing along a really hot potato.

 

[RussianSensation]

So what you are saying is people in this 114 page thread have just been mining for fun, to heat up their room, while wasting electricity that they pay for?

 

[Zargon]

gosh I guess I didnt have free 6950's

 

[Comdrpopnfresh]

So what you are saying is people in this 114 page thread have just been mining for fun, to heat up their room, while wasting electricity that they pay for?

And the theoretical dollars. The ones that do it better are earning off of the newcomers and the ones that do it poorly. I'll admit otherwise when I see a site that does non-convoluted BTC->USD conversions with the USD ending up in a legit checking account.

I mean, doesn't it strike anyone as odd, that in the 21st century which will have largely been commercially defined as the cryptographic age, no commercial or governmental entity (all of which stave their existence on cryptographically securing data) is knocking on the BTC network's nonexistent door to leverage and outsource the enciphering throughput it houses? It has such an ability to hash data, yet provides none of it toward existing endeavors. Seti looked for aliens using this distributive principal, and folding aids medical research, and there are many needs for such a pool of processing might, but bitcoin squanders it in a feedback loop. That much processing power could supplant entire supercomputing sites, and eliminate the maintenance and upgrade costs associated with running them. It could legitimately be rented out for billions. And in that scenario, everyone WOULD actually make money mining.

 

[Despoiler]

And the theoretical dollars. The ones that do it better are earning off of the newcomers and the ones that do it poorly. I'll admit otherwise when I see a site that does non-convoluted BTC->USD conversions with the USD ending up in a legit checking account.

I mean, doesn't it strike anyone as odd, that in the 21st century which will have largely been commercially defined as the cryptographic age, no commercial or governmental entity (all of which stave their existence on cryptographically securing data) is knocking on the BTC network's nonexistent door to leverage and outsource the enciphering throughput it houses? It has such an ability to hash data, yet provides none of it toward existing endeavors. Seti looked for aliens using this distributive principal, and folding aids medical research, and there are many needs for such a pool of processing might, but bitcoin squanders it in a feedback loop. That much processing power could supplant entire supercomputing sites, and eliminate the maintenance and upgrade costs associated with running them. It could legitimately be rented out for billions. And in that scenario, everyone WOULD actually make money mining.

I want what this guy is smoking.

 

[Timewasted]

And the theoretical dollars. The ones that do it better are earning off of the newcomers and the ones that do it poorly. I'll admit otherwise when I see a site that does non-convoluted BTC->USD conversions with the USD ending up in a legit checking account.

I think bitfloor fits what you're looking for. My coins get sent to my bitfloor address, and I then sell them for USD which then gets directly deposited into my bank account.

For customers who wish to have USD directly deposited into their bank accounts, we offer ACH at no additional charge. For ACH, be prepared to provide valid government ID and relevant bank account information (name, routing, and account number). Please contact support@bitfloor.com to get this setup.

 

[Binky]

Don't feed the trolls.

 

[RussianSensation]

I'll admit otherwise when I see a site that does non-convoluted BTC->USD conversions with the USD ending up in a legit checking account.

You can mine and convert bitcoins to Amazon/Newegg gift cards:
http://www.btcbuy.info/GiftCards.cshtml

You can send bitcoins over to your bank account, get it mailed by cheque:
https://fastcash4bitcoins.com/Default.aspx

You can buy virtual credit card balance (Mastercard and Visa) with Bitcoins.
http://btcinstant.com/

There is a massive Wikipedia page dedicated to selling bitcoins. You have tried all of these methods and none of them works?
https://en.bitcoin.it/wiki/Selling_bitcoins

 

[Binky]

There's some strange activity on bitcoin prices today. They hit $15, then collapsed on heavy volume to $10.50. Maybe some exchange got hacked...

 

[Zargon]

or people saw a good price and fire sale'd it

 

[Mir96TA]

$15 was /is sweet spot for lot of people

 

[Despoiler]

There's some strange activity on bitcoin prices today. They hit $15, then collapsed on heavy volume to $10.50. Maybe some exchange got hacked...

BTCST is closing down.

https://bitcointalk.org/index.php?topic=50822.msg605957#msg605957

 

[Binky]

I don't see why that would lead to a massive spike in sell orders over a short period of time today, but then I haven't followed that particular fiasco.

 

[notty22]

There was other news this week.
First Bitcoin Lawsuit Filed In San Francisco

A recent theft at Bitcoinica, one of the largest Bitcoin exchanges, resulted last week in a debut for the currency in the California court system. Four prominent members of the Bitcoin community, including Jed McCaleb—the original developer of Mt. Gox, the largest Bitcoin exchange and a competitor to Bitcoinica—filed a lawsuit on 6 August against the company, seeking reimbursement for US $460 457 in lost funds.

 

[RussianSensation]

BTCST is closing down.

https://bitcointalk.org/index.php?topic=50822.msg605957#msg605957

That post is from Nov 2011. ?

 

[Binky]

The "lending" section of bitcointalk is hilarious. Seriously, do people really believe that you can receive 5% per week, or 10%-15% per month in returns. Get real. If it walks like a duck...

I saw one or two posts about this Pirate character referring to this Monday. I have no idea what that means, or if it has anything to do with a huge volume spike on the exchanges (prices have somewhat recovered, BTW). Mabye today was some important date where he was supposed to finally shut down his ponzi lending pool and return the coins to the suckers investors.

 

[Binky]

That post is from Nov 2011. ?

Mouseover the time of the post and it shows that it was edited today.

He specifically refers to this guy:
https://bitcointalk.org/index.php?topic=101152.0

So...did he dump all the coins and hop on a plane to a non-extradition country?

 

[Despoiler]

That post is from Nov 2011. ?

Yah it looks weird, but that there has account related activity from july 2012. Look at the last post.

 

[Vesku]

Yeah, Pirateat40 has told everyone "balances start being returned Monday."

My bet is that he's implementing plan "Tropicalretirement" and will be on a plane tonight or Saturday. hehe

Assuming he hadn't already relocated, he was not known for passing out information that could identify himself.

 

[Binky]

Has anybody used a 6770 for mining? Has anybody attempted mining in a machine that must remain quiet for at least half of the day?

I'm considering throwing a EAH6770 in my HTPC. It has a big-ass heatsink that I think I could use with a large slow fan. I figure it would pay for itself within 40-80 days ($80AR), depending on how well it would clock while maintaining very low noise. It's also a very nice HTPC card that could be configured to run very will with madvr, etc.

Is this possible? The mining hardware comparison suggests that these 6770 cards can do up to 200mhash, but that's obviously with a lot of noise.

 

[Mir96TA]

Has anybody used a 6770 for mining? Has anybody attempted mining in a machine that must remain quiet for at least half of the day?

...
........

Is this possible? The mining hardware comparison suggests that these 6770 cards can do up to 200mhash, but that's obviously with a lot of noise.

Never used it............
Slowest GPU I have tried was 5850 350 M/h
For 6770 200-220 is the M/h would be the best you can do.

 

[Vesku]

For a 5770 or 6770 expect a bit under 200 MH/s while running it quietly, 200-220 MH/s going full bore OCed.

 

[Zargon]

Never used it............
Slowest GPU I have tried was 5850 350 M/h
For 6770 200-220 is the M/h would be the best you can do.

Uh oc'd heavily?

Tapatalking on my pos thunderbolt. Sorry for teh typos!