Oups sorry. It was bitclockers that offered bitmining... Not sure if starting our own dedicated pool is a good idea unless we had a lot of people (like thousands). You would just get a block avery few months, and probability-wise, it's likely we could spend a year and find nothing.
When you mine for bitcoins with bitminter you also mine litecoins too. All you have to do is setup a litecoin wallet on your pc, create a config file (with your username and password etc) then you run a command which generates an "address", you then put that address into your bitminter account on the website alongside the address of your bitcoin wallet. As you mine bitcoins and they are sent to your wallet on the hour, any litecoins youve made are also sent to your litecoin wallet EDIT: apologies I was thinking of NameCoins, not LiteCoins
Started using this litecoin pool now as well using a cpu miner http://mine.pool-x.eu/ Hopefully means I can get some litecoins (with a wallet that is currently validating blocks) at the same time as my bitcoin production. Even better is that my computer can't get any hotter or louder so I have nothing to lose, I have underclocked my gpu so it can run the whole time at 88 degrees on 75% fan speed, makes it far easier on the ears and my room doesn't smell of burning silicon
good thinking, think il make a custom profile on MSI Afterburner so i can downclock a little bit for when im mining. That, and ive just bought 4 140mm fans to go in my rig to help keep the temps down!
Generally speaking the temperature is fine for me but the gpu is running hot, I have a tiny case (tj08e) so only way to fix it would be watercool, the xfx fans are really quiet at less than 40% but any higher and they are like a hurricane. I haven't set up a custom profile but memory is always at 1300 and clock varies between 750 for mining and 950 for gaming .
Oh dear Wish I had money to buy lol, its gone from 100usd to 130usd quickly Sent from my BlackBerry 8520 using Tapatalk
lol at people just thinking they could invest money into some graphics cards and get money from it It's by no means a stable market etc. By tomorrow they could have gone back up again a bit etc Obviously sudden drops will then be followed by sudden rises as people buy/sell to try and take advantage of the situation.
That is what i'm banking on, people who treat it as a short term currency are doing it wrong, just buy a small amount (nothing you wouldn't mind losing) and sit on it for a month or two and see what happens!
I'd be up for joining a BT pool, but I think it would be too small to be effective. Would a Litecoin pool suffer the same disadvantage?
Probably, but it is still a pretty unstable investment with everyone buying and selling every minute so have only bought 1.66 bitcoins, and that was in the slump so got quite a good deal. I would love to join a pool but litecoin seems to be easier to mine, plus it works well on cpus as well as gpus, I have just been mining solo in litecoin and gave up because the difficulty is still quite high but joining a pool (or making our own) is definitely an option.
The problem is that it's a massively volatile and unstable market, entirely based on confidence. Bitcoins have no intrinsic value, so there's absolutely no guarantee that the market won't tank massively in the future. Given that only a couple of months ago, the "value" of a bitcoin was about $15, I think you need to ask yourself whether it's realistic that $150 to $250 is anything other than a bubble. There's also a major problem in that the market is really small and thus horribly prone to distortion from trading. If you've got some money that you genuinely don't care about losing, then by all means get stuck in, but I personally think that you are nuts to invest in bitcoins, and even more nuts to buy hardware for the purposes of mining.
I am not buying hardware to just mine, so not an issue there , but have just bought what I would be prepared to lose and if the value increases then great, if not then it was worth a try and move on!
How did you add funds to buy the BTC? As I wanted to buy a couple of BTC when it was at 130usd but adding funds seemed a real PITA :/ Its at 170usd now Sent from my BlackBerry 8520 using Tapatalk
followed the link for litecoin mining and its asking for a username and password before the site will load EDIT: Sorted
I bought them off ebay and the guy said he would send £X of bitcoins as soon as he received money based on the mtgox exchange rate at that time. Worked out for me as I ended up buying at roughly $115 per coin which is near the bottom of the slump.
Nope UK seller, he charged a 15% commission but sold the coins when they were in mid crash last night so I got a pretty decent deal, his link is below: http://www.ebay.co.uk/itm/251257857900?ssPageName=STRK:MEWNX:IT&_trksid=p3984.m1497.l2649 I plan on selling mine on ebay as well, it is more secure, you can charge a bit of commission and you don't have to sign up to all these exchange websites to hope your bitcoins sell at a decent sell order!
I was looking into BC mining when my parents where going to get a 4kw solar array installed. The government had cut the feed in tariff so i thought why now use the extra juice for mining : ) Alas it never happened. I do have 500w of panels sat in my shed, might be worth some kind of low power mining effort : D
