"Folding" for profit, not fun - Bitcoin

[Stoo]

This is where the older hardware in my mac is showing it's age - the 4870 is only pushing ~90Mhash/sec, so I'm looking at something like 3 days for a single bitcoin..

[Rob_B]

1. sign up for a bitcoin wallet either by downloading the client from bitcoin.org, or sign up for one at mybitcoin.com
2. download a mining client: https://en.bitcoin.it/wiki/Category:Miners (I'm using diablo at the mo)
3. either mine solo (connecting to the official bitcoin client you may have downloaded earlier), or sign up with a mining pool (deepbit.net, mining.bitcoin.cz or BTCguild for starters)
4. connect up to the pool (generally something similar to 'nameofminer -l locationofpool:8332 -u username -p password' then you can add your advanced options or cheat and use a gui client)
5. ???
6. profit

3: Pool it if you've not got multiple dedicated mining machines.
4: Just use guiminer, all the settings for the most common pools are already setup

[shakerist]

Would using guiminer effect my gains?
lmao this is the first time ive seen my pc lagg after my upgrade from pentium 4, how long do you think it will take to accumalate enough money so I can build a dedicated miner?

[kevpuk]

... how long do you think it will take to accumalate enough money so I can build a dedicated miner?

Errmmm, quite some time ! GPU is king here, so you can get away with a pretty low-spec setup, so long as the GPU is potent; AMD cards own nVidia for this, primarily down to sheer volume of stream processors.....I just grabbed a £99 5850 and am getting some pretty decent performance in guiminer (and actually probably less than I should, by comparison with others).

To 'get my money back' on the 5850, however, am looking at around close to 2 weeks on current Bitcoin price, and that is not including the associated electric cost. Still, call it 3 weeks and Bitcoin value staying approx. same, and then the cost is recouped

[Ulti]

Bitcoin rapidly depreciated in value over the last few days though. Was hovering close to £10/BTC this morning but it seems to be increasing a bit again, £12.2857 it seems.

[Stoo]

It should bounce back okay though.

At this point I'm wondering about hooking up my old rig and grabbing a couple of cheap 5000 series GPUs, especially considering that a 5870 for a mac is £350!

[Ulti]

Yup, seems it's rising again now, I'm going on holiday for about 7 weeks so I'm gonna try build a small mining rig and try to leave it on and see what happens, hopefully I can pay for the electricity and the costs for it as well as make a few tenners worth of profit.

[shakerist]

how do i turn btc to ££££ ?

[Ulti]

Use Britcoin by:
1) Register for Britcoin with myopenid
2) Mine Bitcoins
3) Send Bitcoins to your account on Britcoin
4) Profit!

[shakerist]

and how does britcoin transfer the money to my wallet ? Paypal ?
EDIT: Oh ok its bank transfer, im 16 can money be transferred to my llyolds tsb account ?

[jim]

Ask Lloyds. Probably if it's a proper current account.

[Golden Dragoon]

I am wondering if I should plug in my old 4850 into my second pci-e slot to give this a go, don't want to affect my gtx460's folding nor on the cpu, what kind of performance will a 4850 get?

[jim]

Usual link: https://en.bitcoin.it/wiki/Mining_hardware_comparison

[Queelis]

How many hours did it take you to get 2.7BTC and was it using your HD4830??

I don't really know. I've just started it and let it sit there, since I don't pay for the electricity. Eventually, it accumulated, and then it seemed like time to sell. Good timing, I think.

[shakerist]

overclocked my 6850 coreclock to 960 mhz underclocked memory clock to 500 fan speed at 43% max temp 73, cold day so opened the window a bit, flags i am using -v -w 128 getting average of 235 Mhash/s , stock speed no flags i get 165 Mhash/s i did 6 hours or so yesterday with stopping and starting, and I have made 0.10462300 BTC
To minimize power consumption I have underclocked my 1055t to 800mhz at a voltage of 0.925v, I havent tried going lower.
I think within a month i would have made around £100 which I will use to buy a 5850. Running both a 5850 and 6850 will allow me to get around 500 mhash/s which is 6.46 coins a week which is £70-£60,

[rox0r]

Just ordered a 5850 to drop in with my 6870. Does anyone know of an aftermarket cooler for a 6870 that will queten it down a good amount because with two in there it's going to sound like a turbine? I need to offset the electricity costs running another card so I think we'll get shot of our second fridge freezer (Damn thing only ever has a couple of tinnies and a loaf or two of bread in it anyway!)