New GPU miner Phoenix v1.01 added to download.
Long polling support for this version enabled.
Topic: [CLOSED] BTCMine - ZERO fee mining pool (LP, SSL, JSON API, P2SH) - page 35. (Read 171605 times)
April 25, 2011, 12:30:48 AM
April 24, 2011, 11:57:38 PM
If the new beta client is any indication, fees will become far more common. I had to pay a fee for a .05 transaction yesterday.
April 24, 2011, 11:46:21 PM
Yeah, i knew it wouldn't be worth worrying about, just making a mental note for the future.
April 24, 2011, 11:11:04 PM
What's the BTCmine.com policy regarding transaction fees that maybe included in blocks? (e.g. Will they be distributed to the miners or retained by the operator?)
Also, do you have a policy for how many free transactions are included?
From all solved blocks less than 5 BTC. I even don't count it.
Most solved blocks without fees at all.
Right now pool accept limited amount of free transactions, for preventing zero fee flood spam.
When I was solo I solved eight blocks, three had transaction fees of .05 or less, the others zero. I do think trans fees will become much more common as time goes forward.
April 24, 2011, 10:49:54 PM
What's the BTCmine.com policy regarding transaction fees that maybe included in blocks? (e.g. Will they be distributed to the miners or retained by the operator?)
Also, do you have a policy for how many free transactions are included?
From all solved blocks less than 5 BTC. I even don't count it.
Most solved blocks without fees at all.
Right now pool accept limited amount of free transactions, for preventing zero fee flood spam.
April 24, 2011, 09:39:48 PM
What's the BTCmine.com policy regarding transaction fees that maybe included in blocks? (e.g. Will they be distributed to the miners or retained by the operator?)
Also, do you have a policy for how many free transactions are included?
April 24, 2011, 05:22:37 PM
The way the network is growing, difficulty climbing and will climb again now price has taken another jump (2 weeks delayed), even some of the big guys become little guys quite quickly.
It is getting really competitive.
April 24, 2011, 05:15:19 PM
Remote monitoring is another reason I pool. The 2% commission is worth being able to see all machines in one spot. I have a variety of smaller machines , my biggest single machine is a dual 5870
April 24, 2011, 05:01:12 PM
When I was solo I had no hits for 20 days on one machine. That was bad!
I was wondering why some of the bigger guys like you bothered with a pool. I thought at that point it wouldn't be worth the commission. But yeah, 20 days would be excruciatingly painful.
April 24, 2011, 04:40:39 PM
FINALLY!!!
Man, over a day was painful enough when we were at 4 GigaHash... But this was killer...
When I was solo I had no hits for 20 days on one machine. That was bad! Man, over a day was painful enough when we were at 4 GigaHash... But this was killer...
April 24, 2011, 04:29:11 PM
FINALLY!!!
Man, over a day was painful enough when we were at 4 GigaHash... But this was killer...
Man, over a day was painful enough when we were at 4 GigaHash... But this was killer...
April 24, 2011, 02:33:51 PM
Oh man, that sucks.
Yeah, I'd heard about bitcoins here and there over the past six months, but totally blew them off. I assumed they were basically like other internet currencies. That they were basically coupons or tokens that the owner just printed when you gave them real money. I didn't realize there was a economic structure and scarcity to back it up. Now I'm kicking myself for not running a miner before the rise of the GPUs.
I just wanted to point out that megaHash per kilowatt really only tells you if you're currently generating the coins at a cheaper rate than you can buy them, it's not really a measure of long-term profitability. But of course I too am hoping the rate goes up over the next few years.
Anyway, good luck with your miner.
Yeah, I'd heard about bitcoins here and there over the past six months, but totally blew them off. I assumed they were basically like other internet currencies. That they were basically coupons or tokens that the owner just printed when you gave them real money. I didn't realize there was a economic structure and scarcity to back it up. Now I'm kicking myself for not running a miner before the rise of the GPUs.
I just wanted to point out that megaHash per kilowatt really only tells you if you're currently generating the coins at a cheaper rate than you can buy them, it's not really a measure of long-term profitability. But of course I too am hoping the rate goes up over the next few years.
Anyway, good luck with your miner.
April 24, 2011, 02:07:48 PM
kgo ...
You are new to bitcoin.Last year during May,difficulty was very less,I mined 450 BTC within 15 days using official bitcoin client and at 1 Mhash/s.At that time bitcoins were not as worthy as they are now so wasted them by converting to liberty reserve at very very less rate.I have seen it rise from nothing to a dollar within a year.When I say to my friends that the thing which was running in my computer would have earned me 20000 INR(Indian National Rupee) if I have not wasted, then but they don't believe.But it's amazing !!
You are new to bitcoin.Last year during May,difficulty was very less,I mined 450 BTC within 15 days using official bitcoin client and at 1 Mhash/s.At that time bitcoins were not as worthy as they are now so wasted them by converting to liberty reserve at very very less rate.I have seen it rise from nothing to a dollar within a year.When I say to my friends that the thing which was running in my computer would have earned me 20000 INR(Indian National Rupee) if I have not wasted, then but they don't believe.But it's amazing !!
April 24, 2011, 01:26:10 PM
this round is killing me, literally.
April 24, 2011, 12:56:32 PM
spnd7,
Because you've asked a few times if X will be profitable, I just want to give a friendly reminder that bitcoins are an extremely high risk investment. The numbers dbitcoin has posted give you a good idea if you're better off mining bitcoins, or just buying them directly, based on your cost of producing and the currrent cost of coins. But we have no idea what bitcoins will be worth in a year. It could be five cents, it could be five dollars. Everyone here is speculating that the price will go up, but there's no guarantees that any of this will be profitable.
If you're fine with taking that risk and running with the GPU listed above, cool, but keep in mind mining isn't guaranteed free money.
Because you've asked a few times if X will be profitable, I just want to give a friendly reminder that bitcoins are an extremely high risk investment. The numbers dbitcoin has posted give you a good idea if you're better off mining bitcoins, or just buying them directly, based on your cost of producing and the currrent cost of coins. But we have no idea what bitcoins will be worth in a year. It could be five cents, it could be five dollars. Everyone here is speculating that the price will go up, but there's no guarantees that any of this will be profitable.
If you're fine with taking that risk and running with the GPU listed above, cool, but keep in mind mining isn't guaranteed free money.
April 24, 2011, 09:09:07 AM
Using GPU ATI Radeon HD 5570 for bitcoin mining will be profitable ?
https://en.bitcoin.it/wiki/Mining_hardware_comparison
5570 60-64 Mhash/s 39W
If other your computer components have power consumption less than 400Wt/h, then yes.
April 24, 2011, 08:11:29 AM
Using GPU ATI Radeon HD 5570 for bitcoin mining will be profitable ?
April 24, 2011, 08:05:51 AM
Thanks for the info.
April 24, 2011, 01:05:03 AM
Engery efficiency can be assumed at 0.018 Mhash/ Joule .
Theoretically
0.000544588315849 BTC per hour with current generation difficulty
x 1,6 (current market BTC/USD price)
x 24
~ $0,020912184 per day
Slow computer at 200Wt/h ~$0,48 per day (with your price $0,1)
So system with 1,2M not profitable at all, unless you have free electricity
The entry level gpu rig it's about $1,08 per day for electricity (450wt/h)
0,675 BTC per day
0,028125 BTC per hour
So 65Mhash/s enough for cover electricity cost with little profit.
For better calculation you need real numbers for your rig power consumption.
April 24, 2011, 12:14:17 AM
Engery efficiency can be assumed at 0.018 Mhash/ Joule .
Jump to: