bitcoin mining?

[ayu]

@mab
well, there is no central organization that gives out the money, like a central bank does for a country. the money is produced by every user, by making transfers and the rewards for the resulting blocks being solved.

@cats
yeah, it IS a bit confusing, but for me it slowly clears up...
1. when mining for a pool your reward goes into an account there, and when you have reached a specific limit (usually you can set that limit yourself as long as it's not too low) you can transfer it to your wallet. when mining alone you would surely connect your account somehow, but mining alone is totally pointless anyway as long as you don't have your whole basement filled with quad-GPU killer systems, because you would only get the reward (25 BTC) when solving a block all alone....I am not sure though how THAT works, because I doubt you can say "that's my block now, I will solve it alone!".

2. as said in 1., your reward is not transferred directly to your wallet. even if it would, or someone sends you some BTC while you aren't online, it wouldn't matter, because every client is synchronized in context with the transfers when starting...so when you log in you would get the block that contains your transfer too, and then it's added to your wallet.

I have no experience at all with that .py script, maybe mab can add something about that...

Thanks for the replies buddy!

I have read about this all day now xD
And I finally got it sorted out (It's basically as I guessed in my previous post).
I will write a tutorial on how I did it on Linux with the python miner, put it on my wiki and then link it here

I also found a neat miner written in C that seems to be very powerful, so I will see if I can get that one to work as well.
For now I will make a bunch of tests on this machine and see how much BTC I can mine before I return to Sweden ^^

Currently it looks like this, after running for a few minutes

Code: Select all

api.bitcoin.cz:8332 [28.659 MH/s (~52 MH/s)] [Rej: 0/17 (0.00%)]

[cwdykarn]

I recently found this neat little calculator thought i whould share it

http://tpbitcalc.appspot.com/

if that calculator is right it whould take me around 2019.2 days to compute 1 block solo xP



@cats what is the name of that C miner?

[ayu]

I recently found this neat little calculator thought i whould share it

http://tpbitcalc.appspot.com/

if that calculator is right it whould take me around 2019.2 days to compute 1 block solo xP



@cats what is the name of that C miner?

cgminer

[maboroshi]

I recently found this neat little calculator thought i whould share it

http://tpbitcalc.appspot.com/

if that calculator is right it whould take me around 2019.2 days to compute 1 block solo xP



@cats what is the name of that C miner?

Nice I like it, I think I will spend the 150 US and get the jalapeno, if you do the math its definitely not a bad investment

(If assuming it does what they say it does) But the company is legit and has a history of developing really high powered cpus for Bitcoin Mining

*cheers

Mabo

[ayu]

Nice I like it, I think I will spend the 150 US and get the jalapeno, if you do the math its definitely not a bad investment

(If assuming it does what they say it does) But the company is legit and has a history of developing really high powered cpus for Bitcoin Mining

*cheers

Mabo

Yeah I'm actually planning to do the same ^^.
But I will wait a little bit, and setup a machine at home first for testing, to play around with it a bit

[maboroshi]

Just pre-ordered my spicy Jalapeno

Giggity

[ayu]

Just pre-ordered my spicy Jalapeno

Giggity

Nice!

Do tell when it arrives and how it works!

[cwdykarn]

realy nice mab

may i ask, how long time will it take from order untill you have it in hand?
dident find any decent info about that on there site :/ ...

and just to clearify something 1 GH/s == 1000 Mhash/s, right or have totaly missunderstod that?

[ayu]

and just to clearify something 1 GH/s == 1000 Mhash/s, right or have totaly missunderstod that?

Yeah that's how I have understood it as well.

[maboroshi]

For those watching the Butterfly labs stuff

http://www.youtube.com/watch?feature=pl ... ZUPniBo5UQ

Kind of cool

[ayu]

For those watching the Butterfly labs stuff

http://www.youtube.com/watch?feature=pl ... ZUPniBo5UQ

Kind of cool

wow nice!

oh and btw, my little tut for mining with Linux is finished

Code: Select all

http://wiki.alcor.se/index.php/Poclbm

[maboroshi]

Cats I like Your Tutorial

This developer also developed another Bitcoin Client Which he calls Python Modular Bitcoin client that I read about.

I have two Graphics cards, is it possible to mine with this client using Both GPUs and even perhaps my CPU?

I want to make the Most of my one PC LOL

I really liked your tutorial and good advice on keeping separate Wallets. How would I go about doing that

*cheers

Mabo

[ayu]

Cats I like Your Tutorial

This developer also developed another Bitcoin Client Which he calls Python Modular Bitcoin client that I read about.

I have two Graphics cards, is it possible to mine with this client using Both GPUs and even perhaps my CPU?

I want to make the Most of my one PC LOL

I really liked your tutorial and good advice on keeping separate Wallets. How would I go about doing that

*cheers

Mabo

Basically, everytime you start a bitcoin client for the first time (or if you have deleted the data folder where the wallet is), it will create a new one.
So if you make one wallet, and then move the wallet.dat file to another location, then remove it from the data folder, the client will create a new one for you.

But like I said, be sure to keep many backups and keep it safe.

And I'm not sure about mining with all your devices, but I know it's possible, just not how, since I only have one graphics card ^^

I did notice this though

Code: Select all

cats@Haruhi:~/Desktop/miner$ python poclbm.py --platform=0

OpenCL devices:

[0]	Quadro 3000M

No devices specified, using all GPU devices

Since it says "using all GPU devices", I'm sure that's what it will do.
And I wouldn't recommend using your CPU, as it will make the machine unusable, and the GPU is sooooo much faster at doing this, so the gain is very small.

[bad_brain]

very nice tut cats!

I have done a few transactions in the last time, always worked really well! the time until the transactions are verified (you need min. 6 verifications before the transaction is labeled valid) is about 30-60 minutes for me.
there also seems to be a limit for fees, I haven't checked it out yet but it seems it's a "if fewer than xx then you pay a fee" limit, not one where you pay when the amount is higher than a specific value. but the fee is really just a little, like 0.0000005 BTC.

one thing beginners might ask themselves (I did too) is "how can I know the transfer came from a specific source"? like when you want to receive the same amount from 5 people at the same time for example....
for this you simply create a new address for every transfer, so everyone sending you BTC will do this to his own unique address on your side.

[Broken Angel]

What kind of sorcery is this?

OMG Couldn't have coined it in better words...