I just realized why I need to start mining, so a question for miners

gmaxwell

staff

Activity: 4284

Merit: 8808

Quote from: lassdas on March 31, 2013, 01:33:00 PM

The "being an honest node" argument with just 1-2GH/s is moot, because with such a low hashrate you're probably going to mine on a pool anyways.
In that case it's not you, but the pool-operator who has to be honest (and you don't really have any control about that).

Use P2Pool, and then you're an honest to god honest node.

Or really, if your motivation is primarily to secure Bitcoin— feel free to solo mine. Your expected return is as good or better, and if you're not in it for the income the fact that its a bit of a lottery shouldn't turn you off.

Dabs

legendary

Activity: 3416

Merit: 1912

The Concierge of Crypto

I'd want a simple small device that I can plug into my computer's USB port and starting bitcoin mining at 10 GH/s or 20 GH/s. When there are about a few hundred of us little folks doing that, we'd help secure the network. Fees can also be lowered.

amencon

sr. member

Activity: 410

Merit: 250

Quote from: ?? on ??

I would wait for the ASIC boom to end and when there is an available product on the shelves which you can receive a tracking number for on the day of purchase, buy one, plug it in and forget about it.

Yeah this is what I'm waiting for. It's OK if I miss the gold rush but will definitely want something simple hashing in the background at low cost once the technology matures a bit. I'd bet plenty others are in the same boat.

icellan

newbie

Activity: 18

Merit: 0

Quote from: meowmeowbrowncow on April 01, 2013, 04:20:00 PM

Quote from: Severian on March 31, 2013, 01:19:51 PM

“The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes.”

The importance of the above quote struck me last night. So I want to throw in my .02 btc of being an honest node and add some hashing power. I'm not worried about spending a few more dollars on electricity than I make in bitcoins because Bitcoin has already treated me so well.

I mined on my laptop back in the day but stopped when it went to GPUs. Now, looking at mining has the same effect on me as the first time I encountered Bitcoin itself. It's confusing for us non-miners. So perhaps an expert or two could help clear up the confusion.

My question: What's the lowest impact, cheapest method of adding 1-2 gigahashes/s to the network? As said, this is just to be an honest node as I'm not worried about profit from mining.

Thanks!

Good for you for realizing the importance of why Bitcoin is so important. Impartiality.

So, now, with the right philosophic point of view, go get yourself some ASIC's.

Where can we get some? Butterfly labs seems to be DOA and Avalon is sold out.

meowmeowbrowncow

sr. member

Activity: 322

Merit: 250

Quote from: Severian on March 31, 2013, 01:19:51 PM

“The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes.”

The importance of the above quote struck me last night. So I want to throw in my .02 btc of being an honest node and add some hashing power. I'm not worried about spending a few more dollars on electricity than I make in bitcoins because Bitcoin has already treated me so well.

I mined on my laptop back in the day but stopped when it went to GPUs. Now, looking at mining has the same effect on me as the first time I encountered Bitcoin itself. It's confusing for us non-miners. So perhaps an expert or two could help clear up the confusion.

My question: What's the lowest impact, cheapest method of adding 1-2 gigahashes/s to the network? As said, this is just to be an honest node as I'm not worried about profit from mining.

Thanks!

Good for you for realizing the importance of why Bitcoin is so important. Impartiality.

So, now, with the right philosophic point of view, go get yourself some ASIC's.

Severian

sr. member

Activity: 476

Merit: 250

Quote from: lassdas on March 31, 2013, 01:33:00 PM

but the pool-operator who has to be honest (and you don't really have any control about that).

So it would serve my interests to do my research first into who's running the pool.

Quote

But to answer your question: the cheapest way in terms of initial investment is probably to grab some used ATI GPUs on ebay, although the energy-cost is quite high for the long term. Another way would be to grab some used FPGA boards, higher initial investment, lower energy-costs. Or just wait a few more months and hope for ASICs to be available/affordable.
And that's about all methods around for everybody. Cheesy

And that's what I wanted to know. Thanks for the quick answers.

lassdas

legendary

Activity: 3676

Merit: 1495

The "being an honest node" argument with just 1-2GH/s is moot, because with such a low hashrate you're probably going to mine on a pool anyways.
In that case it's not you, but the pool-operator who has to be honest (and you don't really have any control about that).

But to answer your question: the cheapest way in terms of initial investment is probably to grab some used ATI GPUs on ebay, although the energy-cost is quite high for the long term. Another way would be to grab some used FPGA boards, higher initial investment, lower energy-costs. Or just wait a few more months and hope for ASICs to be available/affordable.
And that's about all methods around for everybody. Cheesy

Severian

sr. member

Activity: 476

Merit: 250

“The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes.”

The importance of the above quote struck me last night. So I want to throw in my .02 btc of being an honest node and add some hashing power. I'm not worried about spending a few more dollars on electricity than I make in bitcoins because Bitcoin has already treated me so well.

I mined on my laptop back in the day but stopped when it went to GPUs. Now, looking at mining has the same effect on me as the first time I encountered Bitcoin itself. It's confusing for us non-miners. So perhaps an expert or two could help clear up the confusion.

My question: What's the lowest impact, cheapest method of adding 1-2 gigahashes/s to the network? As said, this is just to be an honest node as I'm not worried about profit from mining.

Thanks!

Topic: I just realized why I need to start mining, so a question for miners (Read 3830 times)