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Anyone use Bitcoins?

Anyone who has an AMD graphics card, get mining litecoin right away, value has gone from $7 to $27 in the matter of a day, I can do 1.5 coins every 7 days on my 5850.
 
I don't get it?


Heheheh ....I don't either ..though tbh I haven't paid much attention.

Just had a quick read up. Very quick as it was already making my noggin hurt thinking about it.

So this is basically a means of printing digital money ????? Which you can then convert into 'real' money ???? Now maybe I'm just getting a bit long in the tooth for all this techy jiggery pokery but there has to be a catch here somewhere :D
 
The way that they are entered into the market is a process called “Mining”. Basically, computers solve mathematical algorithms to earn the Bitcoins. They are very complex and take a lot of computing power to solve. The more computers trying to solve the equations, the harder the equations become to solve, the less you get for mining.

So the more powerful your computer, the more algorithms you can solve in a shorter space of time and the more coins you earn.
 
Bitcoin mining is dead unless you want to spend a fortune on purpose built, extremely fast asic miners. The network difficulty is far too high to make any money.

Litecoin mining is where its at for sure. Amd cards are good, especially the 7990 which is currently the fastest litecoin mining card out there.

The whole mining thing is easy. You first download a 'wallet' where you can store, send, receive coins. Then, you set up an account with a 'pool' which is basically loads of people mining together and you get a share based on your work units every time a 'block' is solved. Your share gets sent to your wallet on your pc everytime you meet the threshold payment. Use a program called GUIminer (although you can use the command line cgminer) for its ease of use and input the pool details and that's it, litecoin/bitcoin mining before your very eyes.

Another thing to watch out for is the Korean litecoin market in mid December. The worlds first litecoin exchange is being opened there so will be interesting to see where the values go from that point.

Every single thing you ever need to know is on Bitcointalk.org
 
What mining pools are you guys using?
I think I am going to take a look at what some of my home computers can do.
 
Im using wemineltc.com for litecoin, BTCguild and slush's for bitcoin. Theres a few of them around and all of them pay VERY similar. I'd stick with the larger pools, they find more blocks, more often, and your shares build up slightly faster.

Nvidia card users should use cudaminer as it will double your attainable speed. I went from 240kh/s to 620kh/s just by using it with some fancy extensions. That's 2x 780's and just one AMD card can manage that performance :(.


What card you got carl? (nevermind, I see it above, lol) I just bought a load of 6950's REAL cheap from an irish IT supplier. Hopefully, they will chuck out enough to make the electricity worth while.
 
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If you run out of slots for those 6950's, I think I have a couple free :)

Running minerd on works Q6600, it does a massive 20kh/s :rofl:
 
From what I can see, they don't think laptops are a good idea. I think I need to build me a new computer, something I haven't done in years.
 
Litecoin is not supported past cgminer 3.5 so i'm led to believe. Going to do battle with it when I get home tonight. Took a day off to sort out my machines, only got one working out of 5. Seriously stressed out. lol.
 
I just bought a load of 6950's REAL cheap from an irish IT supplier. Hopefully, they will chuck out enough to make the electricity worth while.

If there's any spare at a reasonable price then please let me know. Looking at setting up a forums Litecoin machine :)

Cheers
Paul
 
Just double checked, 3.7.2 definitely support scrypt mining.

Cheers, Carl. I managed to get them working with that exact version.

If there's any spare at a reasonable price then please let me know. Looking at setting up a forums Litecoin machine :)

Cheers
Paul

There may well a pair of factory overclocked HIS 6950's left over. I currently have them offred to someone, but if they turn em down, you can have 'em. I still didn't get your address to send the STTNG wiring loom off to. As soon as I know it i'll get it sent off.
 
Can can any of you experts see an issue with the following server to use to mine litecoins:
HP Proliant DL385 G5 2x Quad Core 2.3Ghz 16GB RAM VMware ESXi SATA RAID Server | eBay

Is more memory a good thing?
Is more cores a good thing?
Can I start with a single HIS 6950, I assume the more the better?
Is there an overhead to using Windows?
Will the machine be able to do other functions like command centre for IP CCTV?

If I can give this machine a second function, it reduces some other issues.
 
Lol - Sorry Russ - Real life has gotten in the way hence everything is getting a little delayed :( Will get sorted tonight... Apologies for the delay...
 
More than fine, Geoff. You don't need cpu horsepower at all. You do need pci-e slots though for the graphics cards which do all the work. My specs for two of my machines that are currently hashing away:

MSI- Z77A-G45 socket 1155
Celeron 2.7ghz
4gb 1600mhz RAM
3x 6950's
850w power supply with 6x6-pci-e connectors (needed for more than two cards)
Total power draw (720w at close to 4amp each machine - as displayed by my british gas leccy meter)
Hash rate = 1255kh/s

Its the AMD cards you need. Specifically these:

6950 = 380/450 kh/s £100-£130 on ebay
7950 = 450/720 kh/s £180-220 on ebay
7970 = 500/750 kh/s £200-300 on ebay
r9 280x = 500/750 kh/s £250-350 on ebay and other well know retailers like scan, overclockers etc)

Any other card is either too expensive to run, or doesn't make enough kh/s to make the electricity worth while.

The server you listed is not really suitable as the cards would not fit inside it and is more expensive than if you build a bog standard Celeron/Sempron sytem via the usual suspects. A new Sempron AM3, or FM2 cpu, board to match, and cheap 4gb ram is around £130.
 
Thanks Russ, that is awesome as I was thinking in the wrong way.
This is a great project for me to do. I have been away from home building and even PC's (caught up in Macbooks) for a while and I am finally getting a reason to get back into it. Plus I have a tech budget to spend, hence the server suggestion though I might still buy that for VM's and running the CCTV via an image.
 
Forgot to mention to get a good motherboard with crossfire capability if running 2 cards or more. Around £60-80 for one of those. £100+ or ebay 2nd hand if you want more cards to run without powered risers.

This board in particular is very good for the money:

ASRock FM2A75 PRO4 AMD A75 FCH Socket FM2 Motherboard - Scan.co.uk

It will do two cards easily, and more if using powered risers in the pci-e x1 slots. Powered risers work, but can increase load on the system quite dramatically.

Power supply for two cards need at least 4x 6-pin pci-e power connectors. Most of the new high end psu's have that as a minimum, but the price difference between the 4 pin and 6 pin versions is huge.
 
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