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runningwithscissors
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PostPosted: Fri Apr 12, 2013 11:41 am    Post subject: Reply with quote

bogamol wrote:
So what kind of processing power would I expect to need if my goal were to obtain 1 single bit coin in a month. Are we talking high end gaming machine? 5 year old discount model? Server with multiple CPU?


All of that and a state of the art ventilation system

Quote:
"I'm done with Bitcoin. It was easy money, but it wasn't worth the (literal) heat.

-had 4 machines with multiple overclocked 5850s in my bedroom -fan speeds at 100% -room was warm, but tolerable -weather suddenly gets hotter one day -get severe heat stroke while I'm sleeping -get taken to the ER, get covered in bags of ice and drink tons of gatorade and water -finally cool down after what seemed like forever -find out I have permanent minor brain damage now because my brain was too hot and swelled a lot

I wish I was joking."

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bogamol
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PostPosted: Fri Apr 12, 2013 11:53 am    Post subject: Reply with quote

Yeesh.
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richk449
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PostPosted: Fri Apr 12, 2013 1:55 pm    Post subject: Reply with quote

Further proof that bitcoin is a fad: http://dealbook.nytimes.com/2013/04/11/as-big-investors-emerge-bitcoin-gets-ready-for-its-close-up/?ref=technology
Quote:
The Winklevoss twins, Cameron and Tyler — Olympic rowers, nemeses of Mark Zuckerberg — are laying claim to a new title: bitcoin moguls.

The Winklevii, as they are known, have amassed since last summer what appears to be one of the single largest portfolios of the digital money, whose wild gyrations have Silicon Valley and Wall Street talking. The twins, the first prominent figures in the largely anonymous bitcoin world to publicly disclose a big stake, say they own nearly $11 million worth.
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energyman76b
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PostPosted: Fri Apr 12, 2013 4:19 pm    Post subject: Reply with quote

bogamol wrote:
djdunn wrote:
the thing about mining the bitcoins is that it takes so much processing, and so much electricity that you spend more than its worth trying to get it.


So what kind of processing power would I expect to need if my goal were to obtain 1 single bit coin in a month. Are we talking high end gaming machine? 5 year old discount model? Server with multiple CPU?


dedicated FPGA or high end GPUs doing all the calculations... several. A lot. And a very very cheap way to get a lot of electricity.


English wikipedia sucks. But german wikipedia has a nice big text block telling you one thing:

it is really stupid. Investment and costs are in no relation to the 'benefits'.

Quote:

Rechenaufwand beim Mining [Bearbeiten]
Die Erzeugungsrate neuer Bitcoins berechnet sich durch die Formel (6 × 25 Bitcoins/Stunde) × (eigene CPU-Geschwindigkeit / Summe der totalen CPU-Geschwindigkeit des Netzwerkes). Diese Rate wird durch die Software dezentral gesteuert. Sie wird in dem Kriterium verwendet, welches definiert, ob eine Signatur einen gültigen neuen Block definiert. Das Mining per CPU auf einem handelsüblichen Computer würde bei dem Schwierigkeitsgrad im Juni 2011 im Durchschnitt mehrere Jahre bis zur Erzeugung eines Blocks dauern.[138] Mining lohnt sich daher nur auf Grafikprozessoren oder Hardwarebausteinen wie ASICs oder FPGAs. FPGAs verbinden hohe Hardwarekosten und niedrigen Stromverbrauch mit einer sehr hohen Rechenkapazität. Da mit der Zeit pro Einheit an Rechenleistung immer weniger Bitcoins erzeugt werden und der Stromkostenanteil daher steigt, werden etwa seit Ende 2011 FPGAs verstärkt genutzt. Eine gewinnbringende Erzeugung von Bitcoins durch reguläre Nutzer oder Malware auf normalen PCs, über die gelegentlich berichtet wird, ist seitdem unrealistisch.
Die Integer-Rechenkapazität des Netzwerks betrug am 30. März 2013 der Webseite bitcoinwatch.com zufolge rund 660 Petaflops,[139] was mit der 37,5-fachen Leistung des derzeit schnellsten Supercomputer Titan vergleichbar wäre. Allerdings ist die Schätzung mit großen Unsicherheiten behaftet und der Schwierigkeit, dass Supercomputer auf Gleitkomma-Operationen optimiert sind, das Mining jedoch ausschließlich Integer-Operationen verwendet.
Der gesamte Stromaufwand beim Mining ist ebenfalls nicht genau abzuschätzen, aber sicherlich beachtlich. Schätzungen bewegen sich Anfang August 2011 zwischen 24 Megawatt und 200 Megawatt, was dem Stromverbrauch einer Kleinstadt beziehungsweise Großstadt entspräche.[140] Schätzungen im Dezember 2012 gehen bei einer Hashrate von 25 Terahashes pro Sekunde und 650 Watt benötigter Leistung pro Gigahash/Sekunde von einem Stromverbrauch von ca. 15 Megawatt aus.[141] Durch das Erscheinen von ASIC-Technologie für Bitcoin-Mining wird mit einer Leistungsaufnahme von ca. 1 Watt pro Gigahash/Sekunde zzgl. der benötigten Leistung für einen Computer zur Ansteuerung gerechnet.[142]
Seit Ende Januar 2013 stehen erste speziell zum Mining entwickelte ASICs zur Verfügung. Mehrere beteiligte Firmen geben das erste Quartal 2013 für den Beginn der Auslieferung an. Als Folge wird damit gerechnet, dass aufgrund der hohen kurzfristig möglichen Verdienste die Rechenkapazität des Netzwerks stark steigt und das Mining mit Grafikkarten bald danach unrentabel wird.

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eccerr0r
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PostPosted: Sun May 12, 2013 11:46 pm    Post subject: Reply with quote

Recently seeing a bit of a flurry of bitcoin questions on f.g.o ... and hearing discussions by people at work who have been mining but have given up as cost to mine exceeds power costs, using easily available hardware (i.e. OpenCL video cards.)

Is it pretty much in the hands of FPGA/ASIC miners nowadays for cost/performance or can people with lowly RadeonHD 5970's (or whatever's cheapest fastest and least power) still make money before their video card fries?

(I have had bad luck with video cards, they all tend to eventually kill themselves due to EM after using them for a while.)

Just curious, I don't foresee myself ever mining them unless something extraordinary happens...
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