is there a reason people user consumer cards rather than the likes of firepro or nvidia tesla that are surely designed for a massive data crunching task such as this ?
Bit coin people believe they are "investing" in something, yet fail to realise they are "investing" into the very thing they are running from....something created out of thin air...with no intrinsic value. Dollars > Bitcoins....and IMO...Dollars are shit...or soon to be in the decades to come.
A virtual wallet which can be stolen half way around the world.....no backing of gold silver...or even paper. What's not to love? LOL
@luvUtube247 Amen on the dollars. However, don't you think that while bitcoins are indeed "out of thin air" like dollars, that they are still two different currencies? The dollars may become hyperinflated, but wouldn't that mean that costs per bitcoin would skyrocket? That's more or less my take on it, and by that I think there are some profits to be made if you know what you're doing, at least until shtf.
As for getting your BTC wallet stolen, it's the fault of the owner in the same way it would be ones fault of getting mugged cause they think nothing will happen by taking a shortcut through a dark alley. You're supposed to set up your miners and leave them alone, and not browse seedy sites with them.
@inspades1 While I agree, that in theory if the USD falls, the bitcoin will go up.
The problem is that's theory! When this go haywire with the USD, where does the money flow?
Into other more stable currencies, precious metals, etc. No one will flock to the bitcoin, as it has most of the exact same properties/problems the USD has....it can be created from nothing. A currency or a bitcoin are ONLY worth what everyone accept it's worth, thus it's inherit issues. When it's seen as worthless, it is
@luvUtube247 Your understanding of bitcoin is lacking. Bitcoin is theoretically more stable than the US dollar because no one can wake up one morning and simply decide to create more of them. The rate of creation is built into the system and no one, not even the original designer, can increase or change that rate. And I disagree that "no one would flock to bitcoin" if the USD was crashing. I would. It would be better than just having your money turn to dust.
@luvUtube247 I'm willing to have a conversation with someone who's being honestly logical. A sign that someone is NOT being honestly logical, however, is when they mis-quotes someone (maybe intentionally) and then proceeds to respond to what the other person DIDN'T say. I didn't say that bitcoin was MORE stable than the USD. Go back and read what I wrote. You clearly have some bug up your ask about this. Even if we assumed that you were right, why are you so invested in being the savior here?
what does this have to do with bitcoin? I thought bitcoin is like e-gold, yeah sorry for the noob question. I was looking at high-end computer set ups and I came across this one wow.
Don't get me wrong, man. I hope it generates a profit. From what you have for equipment, I'm sure you did good when the price was 20-30bux.... just asking if now it's even paying for the power, etc?
that's what i'm building an ATI based GPU Server cluster for.
While BitCoin exchange rates are low, i plan to rent out my GPU Cluster for anyone that wants to do anything really....
i'm fitting it with VNC, and SSH
also for programming i'm giving access to Python, in which case i have PP (Parallell Python for doing Clustered Parallel Processes), NumPy, and SciPy, SymPi, and a few other libraries for visualization and data analysis.
@BelgianLife It's not CPU power dumbass, it's GPU. You should do some research before making these incorrect statement. I'm also bitcoin mining and I pay for my own hydro and have a full-time job. How do you know he's not doing the same? Some people buy cigarettes/drugs/alcool/go to stripclubs, I like to spend my money on hardware/hydro in order to help this wonderful project move forward. Only ones afraid of Bitcoins is the banks/governments because they'll loose their chains on their slaves.
@vinmorin That would be true if Bitcoins had any solid backing to stand on, ex. gold. As it is, it's just another inflated virtual inverse debt of value, no different than government money except in that it has no country, and therefore no labour, land, or law to back it.
It's just more comfortable chains to add to your pile of slave-debt.
@alkafrazin Thats not enirely true. What gives bitcoins their worth is the resources people forgoe to generate them, as electricity is used to generate them and expensive hardware is also depreciated in value. There are many people out there who would be willing to buy GPU time, its a resource just like any other and is in a way pretty valuable.
@Blazr0 Except that there is no real value behind this. Only what is expended to generate it. If you waste energy doing nothing, the energy you wasted is still wasted. It doesn't magically become something of value.
What useful value do bitcoins present on their own?
@alkafrazin Bitcoins are basically a receipt for work done. I can ask you the same question, what useful value does a US dollar, which is basically a piece of printed paper, have? (and no, USD isn't backed by gold, contrary to popular belief)
@Blazr0 Most currencies aren't backed by gold. The USD is backed by the US Government. What are bitcoins backed by? There is no authority to reaffirm their false value, like with traditional currencies.
@alkafrazin Whats is gold backed by? Gold has no use on its own, other stuff is needed in order to make jewellery. Bitcoins have value because they are a commodity in itself. What gives Bitcoins and gold value is because they are scarce, easily transferred and easily verified. They can be used as a medium of exchange.
@Blazr0 Gold can be made on it's own for jewelry. It has backing by the crown anyway, as do any precious stones. Also, it's the best conductor of electricity, and is therefore very useful in crafting electronics. Most computer components use gold for circuits.
@alkafrazin No, to make jewellery out of gold you need boric acid as well. I'm not sure what you mean by backing of the crown. Again, you can't make computer components out of gold alone, and you can also use other metals. What really determines gold's price is the current demand and supply for gold, same applies for bitcoins.
@Blazr0 There are some misconceptions floating around in this conversation.
@alkafrazin Gold is not the most conductive metal. Silver and copper are more conductive.
@Blazr0 Bitcoins do not get their value directly from the computer power required to mine them. The computer power is dedicated to producing a consistent ledger.
Gold gets most of its value for the same reason bitcoins get all their value. It is because people value it for its monetary purposes.
@vinmorin And you'll watch the government take over soon enough, while the idea of digital currency is cool, governments will force their own system on us, forcing implants and barcodes onto us and we'll be forced to use their own system.
@BelgianLife CPU will be on IDLE. its GPU's that do the work. And he probably has a job, seeing as he can afford to buy 12 high end graphics cards. Atleast with that setup, you can earn extra money whilst you're already at work yourself, and when you're not working, this thing still is working and you are making money.
i set up this thing where i steal everyone's quarters at the supermarket. its the next big thing. next, in going to hire some 9 year old illegal immigrants to steal the quarters for me, and we split the profits 50/50
@dzman1024 its not a scam, you make you pc solve problems. those problems turn into bitcoin. its just hard to make money and its evenly given out like tf2 items.
@Mike619 on rigs with no monitors i use dummy plugs to trick the computer into thinking a monitor is connected to it, then i use a free app called teamview that allows me to remote access into the system using another computer or my smart phone, I'm able to remote into any of the rigs anywhere as long as i have 3g/4g connection. currently for my windows based system i use GUIminer.
@L2Bitcoin yo, how much did that rig set you back? also how does a G/hash convert to a bitcoin? for instance, how many bitcoins would a 1Ghash system mine in a day/week/month?
I am thinking of selling my two GTX 590s and starting to mine bitcoins with two 6990s. How would i calculate how many bitcoins/$ per day i will make from that setup?
Be aware the price of bitcoins basically crashed to $5 last week (as far as I heard a buncha ppl dumped their wallets and a lot of bitcoins).
That doesn't mean don't mine, just ... don't go sell your shit and buy 6990's before you're sure you want to get into this (esp with 7xxx cards around the corner).
I started not too long ago and am pissed, went from $12 to $5/BTC
@Entropy137 The MOBO i use for this build is the MSI 890FXA-GD70 AM3 its sold on newegg for about $180 to $200, for full details on making one of these rigs see my tutorial video.
@Entropy137 Well any video card really is cost effective if you have free electricity, but i think you mean best mh/s per $, the HD 5830 are one of the best mh/s per $ but they are very hard to find, for myself i use the 5850 and 5870s i consider them one of the best since u can over clock them so well, the main one that people use now is the 6950/6970 and if u can find them 6990, the new 7000s are coming soon to.
@guidodobboletta actually yeah they can, ask the mybitcoin scammers who converted the bitcoins of thousands into real cash... for them. never forget that libertarians aren't people
all this for autism dollars that can only be used to buy slim jims and web hosting, rather than anything more practical like, for example, your electricity bill
@internetmale you are able to get a lot more then just slim jims, bitcoinworldmarket already offers over 12000 products, and bitcoindeals will be launching with over 1 million products.
@L2Bitcoin How did you start farming bitcoins? With one GPU, then slowly sold your bitcoins and starting building your rig with the money earned from those bitcoins? Or did you already have the money and just build all this?
@lilsavalex Well i started off with a gaming computer i already had, my cross fire 5850s, you can see that system on my Gamer turned bitcoin miner video, after that I started to do more research on bitcoins and started using it, and i decided to take some money that i'd saved up and built my first rig and then from there just ended up picking up more hardware each pay check.
@mdma4life yeah, they've tanked in value from ~$30 to $5 with no sign of any recovery at all. They're a bubble, like the notorious tulip mania, and the peak is long gone. Meanwhile, mtgox (magic the gathering online xchange, lol), mybitcoin, the main bitcoin forums and many other sites have proven totally insecure, dozens of scams, ponzi and pyramid schemes abound. Here in the UK, one of the main pillars of the bitcoin community proposed streaming child pornography for bitcoins. I'm out :)
@mdma4life yeah, they've tanked in value from ~$30 to $5 with no sign of any recovery at all. They're a bubble, like the notorious tulip mania, and the peak is long gone. Meanwhile, mtgox (magic the gathering online xchange, lol), mybitcoin, the main bitcoin forums and many other sites have proven totally insecure, dozens of scams, ponzi and pyramid schemes abound. Here in the UK, one of the main pillars of the bitcoin community proposed streaming child porn for bitcoins. I'm out :)
do you have four 5870's on one 1200W power supply?
looks damn cool. unfortunately, the electric costs here in Denmark are too high for this kind of setup. i would totally do it if the power wasn't that expensive. there's something fascinating about that much computational power.
i'm curently mining at 12 Mhash/S on my CPU :) will get a 5770 tomorrow though, and raise that figure 10-20x. still nowhere near your setups, but mining *costs* me money!
@malkdk each system is pulling about 970watts peaked, so nearly 3000watts total for this 5ghz rig, the power cost here is any where from 5.9 to 10.7 cents kw/h depending on time of day/day of the week. i just average everything to 10cents. how much is kw/h in Demark?
@707bou in the video u will see 3 rigs, so 3 different mobo running 4 video cards each, the rigs are in laundry room with the box fan going at med power it gets a tad loud there. the room temp in there is around 83 so a tad warm since it is still the summer. i wouldn't try to sleep in a room with this many rigs going, i do how ever have my gaming system running in my room with no noise or heat issues, 2 video cards in hat system.
@finaldestinyx any rigs that are made currently will take approximately 5 months to break even, that factoring in electricity and hardware cost of $1 per 1 mh/s with difficulty increasing about 5% per 2 weeks. at a rate of $10 a bitcoin
o wow how much money do you profit from this mining? 20-25 a week but how can you actually convert that to cash or a check? nice stuff and thanks for the video
@lycanthrope23 Converting bitcoin into cash is easy for myself i use cavirtex its quite simple/fast they have many payment/withdraw options and only take about a few hours using Interac e-Transfer or a day or 2 with Direct Deposit to my account.
One thing im going to ask, what does cross fire add? you lose 3% of total mining, I noticed thats when I did that with two 6970's and have seen reports of others, personly I rahter just make dummie plugs and get 3% more,
also why not invest in a kvm? if you are looking at more rigs
@bigjake52 the first rig i ran with all dummy ports had the same hashing power as it did with just using the cross fire cables. as long as you have the up to date miner you shouldn't lose any hashing power, each of the cards are over clocked and i get pretty high hashing rate anyways, as for a KVM switch i just remote into these system from another PC. So really i could just plug a dummy port into each and run headless.
@L2Bitcoin Personly I find remote desktop more of a pain to get to work, I like the easy use of a kvm, yet I dont have enough miners to make it worth as my first main miner is hooked on my kvm with two servers,
but I am surprised that cross fire works better for you,
@bigjake52 I will be posting a video regarding remote desktop, I use a program called TeamViewer that allows me to remote desktop using my phone. The UI of the program is pretty much like an IM program, just click on the computer name and you are logged in. I also have this program set up on my desktop so I'm able to control all system at the same time.
@L2Bitcoin Team vier is old btw. I have it installed on my miners if I leave the house I cna make shure they are still running or i just use windows remote desktop in to my 2k3 server and then remote desktop with it to the other systems, at least your a good youtube user and talk to your viewers XD
@bigjake52 I'm sure it's old but it works well easy set up on the computers, and very user friendly. The phone app is also a great tool, the bandwidth used is very low also works great on 3g or 4g network.
@L2Bitcoin First off I have no phone and hope to never have a super smart phone because I dont want to look dumb. like most people are on there cellphones,
dude you cant sell it to me if im useing it, it works great I admit, but a bit of a pain in the ass some times with its licing bull crap, I cant use it on win 2k3 server
Noticed you have the cards crossfired, and using a dummplug in the top row, with crossfire, don't you lose mh/s? With the new Catalyst 11.7 drivers the dummyplugs are not needed on windows machines (linux had this for ages I think). Also noticed you are using wireless, couldn't that slightly increase number of invalid shares? (not saying that it's much, but every share counts ;)
Just trying to come with a constructive comment. I do like the way it all is set up, what temps are you getting?
shame bitcoins are useless
walker2006au 2 hours ago
a geek rig if I ever saw one! looks good though
RedFlagCoalition 1 day ago
are you certain this is profitable? I'd guess that the electricity bill would be higher than the money you make from the bitcoins
Regnomus 4 days ago
how much money do you make from this ??
Gandjii 5 days ago
how does this work with bitcoin. why do people need super awsome cumputer.
TRAxXxk1ng 5 days ago
just wondering what happens if there are new pc's out there who can run 100x the speed of today.. then what will happen with the bitcoin economy?
bjokkor 1 week ago
@bjokkor The system will automatically increase the difficulty, that's how it works!
ionelum 2 days ago
@bjokkor It gets harder overtime.
This guy is probably loosing money, as the 'difficulty' of mining has doubled since the time it was posted.
AridSea 1 day ago
still not enough to run minecraft
kamil12373 1 week ago
What is a bit coin and how do you mine them? is the bit coin used on the DEEP web?
xIUBUNTUIx 2 weeks ago
@xIUBUNTUIx no bitcoins can be used to buy stuff online.
davedudeit 1 week ago
@davedudeit ok gotcha what is the exchange rate to a USD Conversion
xIUBUNTUIx 1 week ago
@xIUBUNTUIx bitcoincharts (dot) com/markets/currencies/
davedudeit 1 week ago
is there a reason people user consumer cards rather than the likes of firepro or nvidia tesla that are surely designed for a massive data crunching task such as this ?
cockyt4523 2 weeks ago
what is these rig used for?
hamsterman81 2 weeks ago
sooo where is this vid?
mushmush161 2 weeks ago
Doesn't that fan throw out all kinds of static electricity?
twiznatch 3 weeks ago
That looks sweet.
faninitube 4 weeks ago
What are bitcoins?
145thedon 1 month ago
lol, what a gay voice.
xm3tax 1 month ago
@xm3tax Grow up idiot
JOOP60606 1 month ago
with this how much BTC do you make everyday(if you dont mind)
codymannthedestroyer 1 month ago
donate please need 0.4 more 1C6xDX4xWubyyPr86oXTn61fKrQ7RRcazU
shezza 1 month ago
But can it run Crysis?
XxMsrSzprzxX 1 month ago 22
@XxMsrSzprzxX I think it can run us through any crisis. ;)
leogardan 1 week ago
how mutch mhash do you generate with this rig
pghg022 1 month ago
How many Bitcoins do you usually make an hour?
smario3500 1 month ago
what are bitcoins?
SkaterBroski 1 month ago
@SkaterBroski there is something called the internet which you can serach for the word "bitcoin" using a website called google(.)com
Filmer1eX 1 month ago
how many bitcoins per week?
TekatosVatos 1 month ago
Wild power bill appears! It uses bankruptcy attack! It's super effective!
iammaxhailme 1 month ago
nice setup! How do you set up that many gpu's on one motherboard? thanks!
beadiesse 1 month ago
great, you can use your bitcoins to pay your thousand dollar electric bill
austinisdabombify 1 month ago 41
@austinisdabombify You can, that is a completely true statement.
NorthReview 2 weeks ago
So you spent over $5000 on this rig? How much do you make per day? 3.62 BTC? And how much does the electricity cost for you? Thanks ! ;)
Kamrua 1 month ago
Comment removed
sona11111111 1 month ago
How many bitcoins do you make a week?
Whtiefan7thst 1 month ago
This has been flagged as spam show
Pffffft. If you want to get rich fast on bitcoins: watch?v=rSbwYqaXGHk
Katten1982 1 month ago
how much did this cost you to set up?
sethelliotttaylor 2 months ago
@danthemanzizzle mines almost paid off :)
atsok 2 months ago
Comment removed
eliden 2 months ago
lol@ the uninformed doubters. Let em hate. Less difficulty for us miners to deal with
inspades1 2 months ago
LOL...this shit is hilarious.
Bit coin people believe they are "investing" in something, yet fail to realise they are "investing" into the very thing they are running from....something created out of thin air...with no intrinsic value. Dollars > Bitcoins....and IMO...Dollars are shit...or soon to be in the decades to come.
A virtual wallet which can be stolen half way around the world.....no backing of gold silver...or even paper. What's not to love? LOL
luvUtube247 2 months ago
@luvUtube247 YOU DONT KNOW WHAT UR TALKING ABUT
HackFlashGamer 2 months ago
@HackFlashGamer You can't even spell a basic sentence.
Yet you know all there is to know about economics, including macro, micro, currency devaluation, inflation rates, and monetary policy.
I have been a currency trader for 8 years,
I know what the fuck I am talking about. LOL
CLASS DISMISSED
luvUtube247 2 months ago
@luvUtube247 Amen on the dollars. However, don't you think that while bitcoins are indeed "out of thin air" like dollars, that they are still two different currencies? The dollars may become hyperinflated, but wouldn't that mean that costs per bitcoin would skyrocket? That's more or less my take on it, and by that I think there are some profits to be made if you know what you're doing, at least until shtf.
inspades1 2 months ago
@inspades1
As for getting your BTC wallet stolen, it's the fault of the owner in the same way it would be ones fault of getting mugged cause they think nothing will happen by taking a shortcut through a dark alley. You're supposed to set up your miners and leave them alone, and not browse seedy sites with them.
inspades1 2 months ago
@inspades1 While I agree, that in theory if the USD falls, the bitcoin will go up.
The problem is that's theory! When this go haywire with the USD, where does the money flow?
Into other more stable currencies, precious metals, etc. No one will flock to the bitcoin, as it has most of the exact same properties/problems the USD has....it can be created from nothing. A currency or a bitcoin are ONLY worth what everyone accept it's worth, thus it's inherit issues. When it's seen as worthless, it is
luvUtube247 2 months ago
@luvUtube247 Your understanding of bitcoin is lacking. Bitcoin is theoretically more stable than the US dollar because no one can wake up one morning and simply decide to create more of them. The rate of creation is built into the system and no one, not even the original designer, can increase or change that rate. And I disagree that "no one would flock to bitcoin" if the USD was crashing. I would. It would be better than just having your money turn to dust.
Geoff31858 2 months ago
@Geoff31858 ???? The bitcoin is MORE stable than the USD???
Didn't the bitcoin lose 30% of it's value in like 1 day? or 1 week? a month? All of the above? LOL
As I said....you guys are flooding to exactly what you are running from.
I don't expect the average Joe to understand.
I have seen thousands of amature investors over my years.
It's a constant rotation of newbie's who think they know it all...donating to those more educated and experienced.
Bitcoins are a perfect example.
luvUtube247 1 month ago
@luvUtube247 I'm willing to have a conversation with someone who's being honestly logical. A sign that someone is NOT being honestly logical, however, is when they mis-quotes someone (maybe intentionally) and then proceeds to respond to what the other person DIDN'T say. I didn't say that bitcoin was MORE stable than the USD. Go back and read what I wrote. You clearly have some bug up your ask about this. Even if we assumed that you were right, why are you so invested in being the savior here?
Geoff31858 1 month ago
What?
jakesteel1 2 months ago
how do you min a digital coin? wtf?
knightschwartz 2 months ago
@knightschwartz With a titanium spoon and a glass butt-plug.
NeoXF 2 months ago
what does this have to do with bitcoin? I thought bitcoin is like e-gold, yeah sorry for the noob question. I was looking at high-end computer set ups and I came across this one wow.
dillinger9999 2 months ago
The AMD 7970 is going be the end of Bitcoin mining.
overclockedamd123 2 months ago
@overclockedamd123 lolwut Because you know, I'm sure people will be dropping $500+ on GPUs that mine maybe 30% faster all over the place right...
NeoXF 2 months ago
@NeoXF Yes. Yes they will. Have you not been to a enthusiast pc website.....ever?
overclockedamd123 2 months ago
we have reached peak autism
InfiniteRhombus 3 months ago
Don't get me wrong, man. I hope it generates a profit. From what you have for equipment, I'm sure you did good when the price was 20-30bux.... just asking if now it's even paying for the power, etc?
1971Jayce 3 months ago
How tall are the 5850s? (in inches please), looking to put some in a rack mountable case.
Ubernoob85 3 months ago
@Ubernoob85 exacly as tall as a PCI expansion slot
bassesweswe 3 months ago
At $2.70/BC and dropping fast, better cash out before it's completely gone! Nice setup, but if bitcoins were real, we'd all be doing it.
1971Jayce 3 months ago
@1971Jayce at Mt.Gox people are still getting prices of over $3.00/BC so idk where you are getting your prices.
W0Wman1 3 months ago
@1971Jayce As of now, 3 days after your comment it's up to $2.98
AtheistsAreGODS 3 months ago
Did that rig pay for itself yet?
KhmerD0g 3 months ago
burn the house down. dude u can do it with -Deheaded laptops
inc2000glw 3 months ago
how much do make per month doing this !?????
that is an INCREDIBLE set up !!
hexstaticleon 3 months ago
haha this,and growing weed > make money with stuff staying at your home just costing electricity
look at people who think having a job is cool,and say "lol" while setting up your best trollface
ThePoorShogun 3 months ago
How much money can person make on rig like that ?
Marlin0865 4 months ago
You should lease time on it to crack MD5 hashes.
bradbeckett 4 months ago
@bradbeckett
that's what i'm building an ATI based GPU Server cluster for.
While BitCoin exchange rates are low, i plan to rent out my GPU Cluster for anyone that wants to do anything really....
i'm fitting it with VNC, and SSH
also for programming i'm giving access to Python, in which case i have PP (Parallell Python for doing Clustered Parallel Processes), NumPy, and SciPy, SymPi, and a few other libraries for visualization and data analysis.
kevinjohnson256 3 months ago
@kevinjohnson256
Oh, btw... anyone that wants to rent my GPU Server Cluster can pay me in BitCoins
=D
kevinjohnson256 3 months ago
GET A JOB like normal people do!
Instead of sitting in your mothers basement using her electricity trying to make money with shitcoins.
Do you even now what you're cpu power is beeing used for?
BelgianLife 4 months ago
@BelgianLife you are cpu power?
The0ne1337 4 months ago
@BelgianLife You obviously don't know what you're talking about seeing bitcoining nowadays uses the GPU and not the CPU....
ArendvanDop 4 months ago
@BelgianLife It's not CPU power dumbass, it's GPU. You should do some research before making these incorrect statement. I'm also bitcoin mining and I pay for my own hydro and have a full-time job. How do you know he's not doing the same? Some people buy cigarettes/drugs/alcool/go to stripclubs, I like to spend my money on hardware/hydro in order to help this wonderful project move forward. Only ones afraid of Bitcoins is the banks/governments because they'll loose their chains on their slaves.
vinmorin 4 months ago 24
@vinmorin Nicely put. Sorry, felt as if a annonymous thumbs up wasn't enough.
NeoXF 2 months ago
@vinmorin That would be true if Bitcoins had any solid backing to stand on, ex. gold. As it is, it's just another inflated virtual inverse debt of value, no different than government money except in that it has no country, and therefore no labour, land, or law to back it.
It's just more comfortable chains to add to your pile of slave-debt.
alkafrazin 1 month ago
@alkafrazin Thats not enirely true. What gives bitcoins their worth is the resources people forgoe to generate them, as electricity is used to generate them and expensive hardware is also depreciated in value. There are many people out there who would be willing to buy GPU time, its a resource just like any other and is in a way pretty valuable.
Blazr0 1 month ago
@Blazr0 Except that there is no real value behind this. Only what is expended to generate it. If you waste energy doing nothing, the energy you wasted is still wasted. It doesn't magically become something of value.
What useful value do bitcoins present on their own?
alkafrazin 1 month ago
@alkafrazin Bitcoins are basically a receipt for work done. I can ask you the same question, what useful value does a US dollar, which is basically a piece of printed paper, have? (and no, USD isn't backed by gold, contrary to popular belief)
Blazr0 1 month ago
@Blazr0 Most currencies aren't backed by gold. The USD is backed by the US Government. What are bitcoins backed by? There is no authority to reaffirm their false value, like with traditional currencies.
alkafrazin 1 month ago
@alkafrazin Whats is gold backed by? Gold has no use on its own, other stuff is needed in order to make jewellery. Bitcoins have value because they are a commodity in itself. What gives Bitcoins and gold value is because they are scarce, easily transferred and easily verified. They can be used as a medium of exchange.
Blazr0 1 month ago
@Blazr0 Gold can be made on it's own for jewelry. It has backing by the crown anyway, as do any precious stones. Also, it's the best conductor of electricity, and is therefore very useful in crafting electronics. Most computer components use gold for circuits.
alkafrazin 1 month ago
@alkafrazin No, to make jewellery out of gold you need boric acid as well. I'm not sure what you mean by backing of the crown. Again, you can't make computer components out of gold alone, and you can also use other metals. What really determines gold's price is the current demand and supply for gold, same applies for bitcoins.
Blazr0 1 month ago
@Blazr0 There are some misconceptions floating around in this conversation.
@alkafrazin Gold is not the most conductive metal. Silver and copper are more conductive.
@Blazr0 Bitcoins do not get their value directly from the computer power required to mine them. The computer power is dedicated to producing a consistent ledger.
Gold gets most of its value for the same reason bitcoins get all their value. It is because people value it for its monetary purposes.
lambedan 1 month ago
@vinmorin And you'll watch the government take over soon enough, while the idea of digital currency is cool, governments will force their own system on us, forcing implants and barcodes onto us and we'll be forced to use their own system.
FMGProductions100 1 month ago
@vinmorin you can use cpu power dumb ass , though its not neery as eficient and is lloooads more expensive
kingoflamegame 2 weeks ago
@BelgianLife CPU will be on IDLE. its GPU's that do the work. And he probably has a job, seeing as he can afford to buy 12 high end graphics cards. Atleast with that setup, you can earn extra money whilst you're already at work yourself, and when you're not working, this thing still is working and you are making money.
hexstaticleon 3 months ago
i set up this thing where i steal everyone's quarters at the supermarket. its the next big thing. next, in going to hire some 9 year old illegal immigrants to steal the quarters for me, and we split the profits 50/50
philnigable 4 months ago
CAN YOU HELP ME SET THIS UP?! Except with 6970s? hmmmm im going to watch your other videos
Jordainio 4 months ago
Haha enjoy your 11 bucks a day.
doluseb 4 months ago
so 5 Gh translates to how many coins in how long?
MrDrmean 5 months ago
2 crossfirex cables
NOT NEEDED SIR
HunterzCentral 5 months ago
I bet it costs more electricity $ than it generates... -.-
JayMDekker 5 months ago
@JayMDekker obviously he wouldn't mine then....
Damaruth 5 months ago
@JayMDekker It does
wellington89d 4 months ago
@JayMDekker It' doesn't matter to them. Their moms probably pay the bills :)
Btw they are to lazy to work, just wanna play wow and wank all day long
BelgianLife 4 months ago
And how much are you mining per day?
Happosae 5 months ago
i guess video rendering take like 3 seconds
MattCat8 5 months ago
ok so im new to bitcoin mining, so how does the GH/s = money?
dzman1024 5 months ago
@dzman1024 its a scam dude
head2fiststyle12345 5 months ago
@dzman1024 its not a scam, you make you pc solve problems. those problems turn into bitcoin. its just hard to make money and its evenly given out like tf2 items.
MattCat8 5 months ago
@dzman1024 unless you got 30k to invest in machines, don't bother because its utterly impractical to make money.
doluseb 4 months ago
how do you run bitmining program on those rigs without monitors? And what bitminning program do you use?
Mike619 5 months ago
@Mike619 on rigs with no monitors i use dummy plugs to trick the computer into thinking a monitor is connected to it, then i use a free app called teamview that allows me to remote access into the system using another computer or my smart phone, I'm able to remote into any of the rigs anywhere as long as i have 3g/4g connection. currently for my windows based system i use GUIminer.
L2Bitcoin 5 months ago 15
@L2Bitcoin yo, how much did that rig set you back? also how does a G/hash convert to a bitcoin? for instance, how many bitcoins would a 1Ghash system mine in a day/week/month?
wrathallll 3 months ago
@L2Bitcoin dude, my gui miner says its pulling 30Ghashes, um glitch?
DCDV99 3 months ago
@L2Bitcoin but how the hell do you mine?
88roro11 2 months ago
@88roro11 he said it in a reply... GUIminer on windows with killer video (GPU) Processing power
deanaubol 1 month ago
@L2Bitcoin so how much have you made in usd's
blowgunking1994 1 month ago
Comment removed
Mike619 5 months ago
I am thinking of selling my two GTX 590s and starting to mine bitcoins with two 6990s. How would i calculate how many bitcoins/$ per day i will make from that setup?
Thanks
TonkatrainHONKHONK 6 months ago
@TonkatrainHONKHONK with 2 6990 you would be pushing about 1.6-1.7 gh/s with pool mining you would see about .9 to 1btc a day @ current difficulty
L2Bitcoin 6 months ago
@TonkatrainHONKHONK
Be aware the price of bitcoins basically crashed to $5 last week (as far as I heard a buncha ppl dumped their wallets and a lot of bitcoins).
That doesn't mean don't mine, just ... don't go sell your shit and buy 6990's before you're sure you want to get into this (esp with 7xxx cards around the corner).
I started not too long ago and am pissed, went from $12 to $5/BTC
mdma4life 6 months ago
What motherboard do you use and how much does it cost?
Entropy137 6 months ago
@Entropy137 The MOBO i use for this build is the MSI 890FXA-GD70 AM3 its sold on newegg for about $180 to $200, for full details on making one of these rigs see my tutorial video.
L2Bitcoin 6 months ago
@L2Bitcoin Thanks, and what GPU is most cost effective if I have free electricity?
Entropy137 5 months ago
@Entropy137 Well any video card really is cost effective if you have free electricity, but i think you mean best mh/s per $, the HD 5830 are one of the best mh/s per $ but they are very hard to find, for myself i use the 5850 and 5870s i consider them one of the best since u can over clock them so well, the main one that people use now is the 6950/6970 and if u can find them 6990, the new 7000s are coming soon to.
L2Bitcoin 5 months ago
@guidodobboletta actually yeah they can, ask the mybitcoin scammers who converted the bitcoins of thousands into real cash... for them. never forget that libertarians aren't people
internetmale 6 months ago
all this for autism dollars that can only be used to buy slim jims and web hosting, rather than anything more practical like, for example, your electricity bill
internetmale 6 months ago
@internetmale They can converted to real cash idiot...
guidodobboletta 6 months ago
@internetmale you are able to get a lot more then just slim jims, bitcoinworldmarket already offers over 12000 products, and bitcoindeals will be launching with over 1 million products.
L2Bitcoin 6 months ago
@L2Bitcoin How did you start farming bitcoins? With one GPU, then slowly sold your bitcoins and starting building your rig with the money earned from those bitcoins? Or did you already have the money and just build all this?
lilsavalex 6 months ago
@lilsavalex What difference does that make ?
memristo 5 months ago
@lilsavalex Well i started off with a gaming computer i already had, my cross fire 5850s, you can see that system on my Gamer turned bitcoin miner video, after that I started to do more research on bitcoins and started using it, and i decided to take some money that i'd saved up and built my first rig and then from there just ended up picking up more hardware each pay check.
L2Bitcoin 5 months ago
@internetmale
I just sell my bitcoins for USD (and buy silver with that).
Are you an idiot? You don't think bitcoins have a market price with an economic structure?
People BUY bitcoins too, they aren't just mined to be sold
MtGox ? Tradehill?
*smacks his mother fucking head at the erosion of common sense and research skills in today's society*
mdma4life 6 months ago
@mdma4life yeah, they've tanked in value from ~$30 to $5 with no sign of any recovery at all. They're a bubble, like the notorious tulip mania, and the peak is long gone. Meanwhile, mtgox (magic the gathering online xchange, lol), mybitcoin, the main bitcoin forums and many other sites have proven totally insecure, dozens of scams, ponzi and pyramid schemes abound. Here in the UK, one of the main pillars of the bitcoin community proposed streaming child pornography for bitcoins. I'm out :)
internetmale 6 months ago
@mdma4life yeah, they've tanked in value from ~$30 to $5 with no sign of any recovery at all. They're a bubble, like the notorious tulip mania, and the peak is long gone. Meanwhile, mtgox (magic the gathering online xchange, lol), mybitcoin, the main bitcoin forums and many other sites have proven totally insecure, dozens of scams, ponzi and pyramid schemes abound. Here in the UK, one of the main pillars of the bitcoin community proposed streaming child porn for bitcoins. I'm out :)
internetmale 6 months ago
@internetmale
All I was saying is there are many methods of getting 'tangible currency' (whatever that means to you) from bitcoins
Their future, unknown of course your right.
Scams, well buyer beware, if you deal in bitcoins understand PGP TOR, CAUTION and its all relatively simple.
mdma4life 6 months ago
DAMN! how many watts is that system pulling?
do you have four 5870's on one 1200W power supply?
looks damn cool. unfortunately, the electric costs here in Denmark are too high for this kind of setup. i would totally do it if the power wasn't that expensive. there's something fascinating about that much computational power.
i'm curently mining at 12 Mhash/S on my CPU :) will get a 5770 tomorrow though, and raise that figure 10-20x. still nowhere near your setups, but mining *costs* me money!
malkdk 6 months ago
@malkdk each system is pulling about 970watts peaked, so nearly 3000watts total for this 5ghz rig, the power cost here is any where from 5.9 to 10.7 cents kw/h depending on time of day/day of the week. i just average everything to 10cents. how much is kw/h in Demark?
L2Bitcoin 6 months ago
@L2Bitcoin the cheapest I can find right now is 50 cents pr kWh including taxes and VAT:
-Payment to provider: 8.79 cents/kWh
----Power cost 7.03 cents/kWh
----VAT (25,00 %) 1.76 cents/kWh
-Payment to distributor: 23.37 cents/kWh
-Taxes: 18.70 cents/kWh
_______________________________________________
Totals: 50.86 cents/kWh
as far as I can see, only the power cost varies (and the VAT hereof). distributor costs and taxes are constant. yeah i know, it sucks.
malkdk 6 months ago
@malkdk That's pretty crazy for hydro! way more then here in Canada anyways.
L2Bitcoin 6 months ago
Can it play crysis?
MLPFiM 6 months ago
@MLPFiM I have on my 5870 crossfire system, haven't tried on the quad fire yet, I'll have to try it out and see what kinda 3D mark score it gets.
L2Bitcoin 6 months ago
@L2Bitcoin crysis must get 900 fps on mega graphics lol
MLPFiM 6 months ago
sounds like inthelittlewood ! BITCOINS JUST FORM THIS WAY
Jio1557 6 months ago
hey, are you running all your rigs in one circuit?
are you rigs in your room, can you sleep with all the noise?
thanks
707bou 6 months ago
@707bou in the video u will see 3 rigs, so 3 different mobo running 4 video cards each, the rigs are in laundry room with the box fan going at med power it gets a tad loud there. the room temp in there is around 83 so a tad warm since it is still the summer. i wouldn't try to sleep in a room with this many rigs going, i do how ever have my gaming system running in my room with no noise or heat issues, 2 video cards in hat system.
L2Bitcoin 6 months ago
fascinating!
cashzone22 6 months ago
This has been flagged as spam show
how much bitcoins did u earn with the rig?
rogelioVela1985 6 months ago
how long would it take for you to break even on the rig? factoring in power consumption and obviously the cost of hardware
finaldestinyx 6 months ago
@finaldestinyx any rigs that are made currently will take approximately 5 months to break even, that factoring in electricity and hardware cost of $1 per 1 mh/s with difficulty increasing about 5% per 2 weeks. at a rate of $10 a bitcoin
L2Bitcoin 6 months ago
o wow how much money do you profit from this mining? 20-25 a week but how can you actually convert that to cash or a check? nice stuff and thanks for the video
lycanthrope23 6 months ago
@lycanthrope23 Converting bitcoin into cash is easy for myself i use cavirtex its quite simple/fast they have many payment/withdraw options and only take about a few hours using Interac e-Transfer or a day or 2 with Direct Deposit to my account.
L2Bitcoin 6 months ago
god damn, how much coins do you get a week?
tonezng 6 months ago
@tonezng at current difficulty its about 2.8 to 3.5 coins a day depending on variance with pooled mining. so 20 to 25btc a week
L2Bitcoin 6 months ago
your video is on the bitcoin news cool
bigjake52 6 months ago
@bigjake52 bitcoin news? what do you mean o.O?
L2Bitcoin 6 months ago
@L2Bitcoin bitcoin(dot)me/bitcoin-porn
bigjake52 6 months ago
Thanks for the reply! Do you have source for reliable risers? Been thinking about it, but dont want to risk 500 dollar cards.
3LITA 6 months ago
@3LITA u can get some from cablesaurus com with bitcoin. i also got a handful off ebay for about 5$
L2Bitcoin 6 months ago
Amazing setup! What motherboards are you using?
3LITA 6 months ago
@3LITA I use MSI 890FXA-GD70 AM3 its the best value, with some PCI risers u are able to run upto 5 video cards on it.
L2Bitcoin 6 months ago
Pooled or solo?
CarlosR0driguez 6 months ago
@CarlosR0driguez currently pooled mining
L2Bitcoin 6 months ago
:D nice lookin rig.
ssraid 6 months ago
@ssraid Thanks :)
L2Bitcoin 6 months ago
One thing im going to ask, what does cross fire add? you lose 3% of total mining, I noticed thats when I did that with two 6970's and have seen reports of others, personly I rahter just make dummie plugs and get 3% more,
also why not invest in a kvm? if you are looking at more rigs
bigjake52 7 months ago
@bigjake52 the first rig i ran with all dummy ports had the same hashing power as it did with just using the cross fire cables. as long as you have the up to date miner you shouldn't lose any hashing power, each of the cards are over clocked and i get pretty high hashing rate anyways, as for a KVM switch i just remote into these system from another PC. So really i could just plug a dummy port into each and run headless.
L2Bitcoin 7 months ago
@L2Bitcoin Personly I find remote desktop more of a pain to get to work, I like the easy use of a kvm, yet I dont have enough miners to make it worth as my first main miner is hooked on my kvm with two servers,
but I am surprised that cross fire works better for you,
bigjake52 7 months ago
@bigjake52 I will be posting a video regarding remote desktop, I use a program called TeamViewer that allows me to remote desktop using my phone. The UI of the program is pretty much like an IM program, just click on the computer name and you are logged in. I also have this program set up on my desktop so I'm able to control all system at the same time.
L2Bitcoin 7 months ago
@L2Bitcoin Team vier is old btw. I have it installed on my miners if I leave the house I cna make shure they are still running or i just use windows remote desktop in to my 2k3 server and then remote desktop with it to the other systems, at least your a good youtube user and talk to your viewers XD
bigjake52 7 months ago
@bigjake52 I'm sure it's old but it works well easy set up on the computers, and very user friendly. The phone app is also a great tool, the bandwidth used is very low also works great on 3g or 4g network.
L2Bitcoin 7 months ago
@L2Bitcoin First off I have no phone and hope to never have a super smart phone because I dont want to look dumb. like most people are on there cellphones,
dude you cant sell it to me if im useing it, it works great I admit, but a bit of a pain in the ass some times with its licing bull crap, I cant use it on win 2k3 server
bigjake52 7 months ago
Have they not cancelled the whole "CPU" mining thing?
Godzilla2456 7 months ago
@Godzilla2456 these system would be mining on GPUs
L2Bitcoin 7 months ago
Noticed you have the cards crossfired, and using a dummplug in the top row, with crossfire, don't you lose mh/s? With the new Catalyst 11.7 drivers the dummyplugs are not needed on windows machines (linux had this for ages I think). Also noticed you are using wireless, couldn't that slightly increase number of invalid shares? (not saying that it's much, but every share counts ;)
Just trying to come with a constructive comment. I do like the way it all is set up, what temps are you getting?
klominator 7 months ago