Bitcoins - Page 24 - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

photon · 01-15-2014, 08:49 AM

Yeah I'm almost 25% of the way to regaining my investment, but the decrease pushed that out a month.

Are AMD cards more available now?

Resolute 14 · 01-15-2014, 08:52 AM

Dunno, but I hate you jerks for driving up the price of video cards when I needed to get a new one to play FFIV. Given I lost interest in the game fairly quickly, it is nice to have something that puts that investment to use.

cKy · 01-16-2014, 03:26 PM

Forget the cost of video cards, I need a PCI-E riser for my nas, and the bloody things have been out of stock for weeks. Stupid miners.

Resolute 14 · 01-17-2014, 09:33 PM

So here's a question... I'm just doing this for the fun of it off basically one good video card (Radeon 7950) and a crappy old Nvidia on an older PC. Combined I'm only averaging about 400 kh/s. Is it better to be part of a very large mining pool, a midsize one, or smaller? The pool I am in now for mining Dogecoins is netting me about 10,000 per day, which at today's prices I am converting to 0.2 LTC. What's the most efficient way for a small fish to do this?

Azure · 01-18-2014, 10:37 AM

Anyone have an easy way to mine Middlecoins without having to use CGminer? I usually use GUIMiner Scrypt for LTC, but I can't get it to connect the Middlecoin servers.

QuadCityImages · 01-19-2014, 08:23 AM

I'm curious about all of this, but I don't want to get into it in a big way. Unfortunately, even to casually mess around with it it seems like I have all the wrong equipment. I have an i5 and a GF450, whereas everything seems to revolve around ATI/AMD stuff. My computer is always running, so I was curious if there's anything I can do with it that'll net me 50 cents' worth of some coins per day or something. It seems like its probably not worth doing, although it would be a way to dip my toe into the whole concept.

Wormius · 01-19-2014, 11:31 PM

What are the income tax implications of all of this? Can CRA treat this as income?

Rathji · 01-20-2014, 09:45 AM

Not in Canada, yet. My understanding that it is in the US it is though.

I track all my expenses as though it is, but that's mostly for my own profitability calculations.

Resolute 14 · 01-20-2014, 10:26 AM

So my luck with this is tremendous, lol. Right after I get into them, the difficulty level on Dogecoins has gone way up... but so has the value. It's tripled since Friday. I'm curious to see what happens when the block reward halves in about a month.

MarchHare · 01-20-2014, 10:33 AM

Quote:

Originally Posted by Wormius

What are the income tax implications of all of this? Can CRA treat this as income?

I am neither an accountant nor a tax lawyer, but I assume you'd have to declare it as a capital gain if make any real money from speculating on virtual currencies.

Rathji · 01-20-2014, 03:31 PM

Quote:

Originally Posted by QuadCityImages

I'm curious about all of this, but I don't want to get into it in a big way. Unfortunately, even to casually mess around with it it seems like I have all the wrong equipment. I have an i5 and a GF450, whereas everything seems to revolve around ATI/AMD stuff. My computer is always running, so I was curious if there's anything I can do with it that'll net me 50 cents' worth of some coins per day or something. It seems like its probably not worth doing, although it would be a way to dip my toe into the whole concept.

Scrypt based coins are much easier on Nvidia cards than Bitcoins are, although the GF450 is still not very good.

You can likely mine with your CPU and Video card and get about 60kh/s doing doge, which isn't going to get you much. When I started mining, I used it as a way to justify a purchase of a new video card, as it would somewhat subsidize the cost of the card.

QuadCityImages · 01-20-2014, 06:02 PM

For those of you that are pretty serious into this, a couple more questions. How much bandwidth do you estimate that mining takes up in a month? Also, have any of you had any GPUs die after mining nonstop for weeks/months?

Rathji · 01-20-2014, 10:49 PM

Mining scrypt is nothing like mining BTC. No real reason to overclock or push your cards, so there is no real risk assuming your GPU temp is kept reasonable by the cooling that you have.

Bandwidth has never been something I have been concerned about, but just looking at my monthly usage in the last 10 or so months I have been mining, there doesn't seem to be any excessive use.

MrCallahan · 01-21-2014, 04:46 PM

Quote:

Originally Posted by Rathji

Mining scrypt is nothing like mining BTC. No real reason to overclock or push your cards, so there is no real risk assuming your GPU temp is kept reasonable by the cooling that you have.

Bandwidth has never been something I have been concerned about, but just looking at my monthly usage in the last 10 or so months I have been mining, there doesn't seem to be any excessive use.

would just like to +1 the temperature on the GPU, a buddy had a card go due to it being burnt out. Not sure what his rig looked like, but just make sure you have adequate air flow/cooling, and it shouldn't be a problem.

QuadCityImages · 01-22-2014, 08:04 AM

Well, I'm in the DogeCoin mining business... jut a tiny bit. I'm just messing around at this point, running CPUminer only, and getting like 56Kh/s on 50% CPU power. By default, it was running 100% on all 4 cores, but I could smell my CPU, so that's no good. By my calculations I may be getting 50 cents worth per day, which could potentially offset the additional watts used by my increased CPU usage compared to idle. So.. I'm breaking even! Take that, environment!

Rathji · 01-22-2014, 08:15 AM

If you want to know what your electricity is costing you, run a kill-a-watt or similar, at the wall in a before/after situation.

QuadCityImages · 01-22-2014, 08:23 AM

Quote:

Originally Posted by Rathji

If you want to know what your electricity is costing you, run a kill-a-watt or similar, at the wall in a before/after situation.

Yeah, I've been meaning to pick one up, and this might be the reason to do it.

photon · 01-22-2014, 11:50 AM

What's a good desktop bitcoin wallet to use? Just the standard one? Or are the lightweight ones any good, storing the whole blockchain seems like such a waste.

Rathji · 01-22-2014, 11:56 AM

I use the standard one, but you really can use a light one without any issues, I would imagine.

Resolute 14 · 01-23-2014, 12:45 PM

The run on Dogecoin looks like it had a huge impact on Litecoin mining. I think the network hash rate for LTC last week was about 120Gh/s. It's around 87 right now. I'm glad I switched back this morning, because the pool I use has found as many blocks in the last four hours as it expects to find all day.