Bitcoins - Page 10 - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

Azure · 04-23-2013, 11:02 AM

I hope everyone is holding on. Nice to see it slowly climb from day to day. Hopefully it keeps up. $134 right now.

chemgear · 05-01-2013, 01:28 PM

Heh, we'll probably see more of this kind of thing in the future:

http://kotaku.com/e-sports-league-mi...mput-486205191

ESEA League, one of the largest PC gaming leagues, has admitted to putting code into the league's client software to "mine" bitcoins, the open-source Internet currency now exchanging for around $130 per. The league is offering free memberships as some members complain the code damaged their video cards.

One user said his card "maintained 90celcius+ for an extended amount of time," and he's getting video errors. He accuses ESEA of frying his video card. But another, in the same thread, said his "560tl 448core was running 93 C for who knows how long," but that it "seems fine for now."

Rathji · 05-01-2013, 01:56 PM

That is screwed up, from more than 1 perspective.

First, they violated trust and installed malware on their users machines.

Second, they broke a cardinal rule of good malware, which is not to be found. Any video card running at full tilt (enough to warrant a constant GPU temp of 93C) is bound to kill system performance.

Third, they were running it on Nvidia cards, which are pretty much useles for mining bitcoins.

Azure · 05-01-2013, 05:41 PM

Oh come on, that is bloody awesome. They should be given full points for being original.

rubecube · 05-03-2013, 10:05 AM

Trending down again around $91. Glad I sold off when I did, and may buy back more again.

Rathji · 05-03-2013, 03:32 PM

I bought at $87 this morning.

chemgear · 05-16-2013, 04:30 PM

http://money.cnn.com/2013/05/16/tech...html?iid=HP_LN

U.S. law enforcement officials cracked down this week on the Bitcoin economy's biggest exchange, Mt. Gox, accusing its operator of running a money transmitting business without the proper license and freezing several of its key financial accounts.

rubecube · 05-16-2013, 04:45 PM

That should send things into freefall for a bit.

Azure · 05-21-2013, 10:10 PM

Quote:

For those of you who don't understand.
Butterfly labs is located at that location.
The giant red bar signifies that they're pulling some
serious hashrate via their ASCIs. They're driving difficulty up
while profiting and while creating the demand for their machines.

Always nice.

arsenal · 05-23-2013, 11:00 AM

Quote:

Originally Posted by Azure

Always nice.

Do you have a link? Wouldn't mind reading that.

topfiverecords · 05-23-2013, 12:35 PM

https://bitcointalk.org/index.php?topic=204375.0

Azure · 05-25-2013, 04:50 PM

Anyone mining Litecoins? Currently trading for $3.

I can mine both Litecoins and Bitcoins and make the same amount of money. But if the price goes higher than $3, I could make a killing. Or the price of Bitcoins could go up, and I could make a killing too.

Geez.

Azure · 05-25-2013, 04:54 PM

Cool calculator here.

http://dustcoin.com/mining

I would make $1/week more mining Litecoins.

Azure · 05-25-2013, 05:30 PM

Plus, one must also consider that the difficulty for Bitcoins will keep going up like crazy. Already hit 12,000,000+ today, and it will keep getting worse as more ASIC miners come up.

Mt. Gox is going to start trading Litecoins in the future, which will give it a more public face. Should help drive the price up.

Azure · 05-25-2013, 05:35 PM

Plus, one must also consider that the difficulty for Bitcoins will keep going up like crazy. Already hit 12,000,000+ today, and it will keep getting worse as more ASIC miners come up.

Mt. Gox is going to start trading Litecoins in the future, which will give it a more public face. Should help drive the price up.

photon · 05-26-2013, 09:24 AM

So I completely missed the Bitcoin thing (I'd done some planning but never followed through), would it be worthwhile getting into mining for Litecoin?

AMD cards still seem to be superior, and looking on Kijiji quickly the best ratio I could find is a card that will do about 400kH/s with $150 spent on the card (assuming I have a computer to run it, so no investing there, might have to do some investing if I want to scale up past a few cards)

At the current difficulty and price, I'd make $924, assuming no increase in price and that's not including electricity. Lets say 375W running full tilt, that's 3,285,000Wh per year, at 9 cents per wH, that's about $300 in electricity.

So $150 for the card, $300 in electricity, to make $475 (in a whole year). Or I could work a few extra hours at my job, hardly seems worth the effort.

Assuming the price stays the same, if the prices does anything similar to Bitcoin (goes up by a factor of 10 say), then it becomes worth doing.

Basically seems like speculation, if that's all it is I might as well just buy a bunch at the current price rather than mining them.

Am I missing something?

Azure · 05-26-2013, 10:19 AM

The benefit of Litecoins is that the way the mining is setup discourages ASICs, and FPGA miners. Nobody is going to pour the money into developing either one until Litecoin can turn some massive profits.

The price has been rising slowly. Just hit $3.11, from $3.008 yesterday. More Litecoins are being traded constantly. Some of the people that said Bitcoin would shoot up over $100 and even hit $200, which it did, have said that Litecoins will hit $25 by the end of the year. Mt. Gox, which handles 80% of Bitcoin transactions have said they will start supporting Litecoins on their exchange, which will increase Litecoin publicity radically.

I have stopped mining Bitcoins, and am fully doing Litecoins right now. I can make about the same amount of money either way, but I expect difficulty for Bitcoin mining to increase by a lot till the end of the year with all the ASIC miners coming online, and I expect Litecoin prices to keep going up.

Who knows, I could hit it lucky. There are people who mined over 10,000 Litecoins when the difficulty was 20, and they gave them away from basically nothing. Just sitting on them would have netted you $30,000 in return for a month of work.

rubecube · 10-03-2013, 02:40 AM

SilkRoad has been busted. I would expect a pretty big drop in BTC prices.

Rathji · 10-03-2013, 05:36 AM

There has been a slight dip, but I wouldn't expect anything that big. BTC are getting to be pretty mainstream now.

You can even buy Humble Bundles with them, which is what I use most of mine for.

MrCallahan · 10-03-2013, 12:37 PM

I've been curious about Bitcoin for a while, and would like to try getting into it. Except, my PC is pretty old, and would takes ages to mine for anything. Has anyone here built mining rigs? or even ordered any (Butterfly Labs)? any suggestions for a newbie getting into it?