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[uncensored-r/Bitcoin] Bitcoin mining on iMac 27in 5k ?
The following post by jasperellis is being replicated because the post has been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7srli4 The original post's content was as follows:
I just got a new iMac at work (I'm a PC/linux guy, but my boss is a Mac guy). It has a ATI 6970, which is one of the best video cards for bitcoin mining today. So I figure I'll download Diablo miner and set it up. Apparently Open CL doesn't work very well on a Mac, so I was only mining at about 1/4 the rate that the 6970 would get in a PC, but still figured it would be worth it to run it over the weekend. So I come back on Monday, and the computer is froze. I restart, and I'm getting visual artifacts on the screen, and it freezes, usually at the login screen, sometimes it logs in, only to have more video artifacts, and freezes shortly after. I'm pretty sure I fried the video card. . . I load in safe mode, and delete everything related to bitcoin or the diablo miner, and call the company's tech guy complaining my New iMac is acting up, acting like I have no idea why it would do that. TL;DR I fried my brand new (company) iMac by running bitcoin miner over the weekend.
Hi, I like hanging-out here, but the other day I had to use Bitcoin, and want to tell you about my experience buying a definitely legal product that could only be bought using Bitcoin. It had to be bought with ‘BTC’, not one of the other ‘Bitcoins’ that have different initials. They really need to pack that shit in, except freedom doesn’t let them, so… I was surprised at how confusing it is to buy Bitcoin, and how the supposed fundamental advantages of Bitcoin seem to vanish when you actually try to buy it. To begin: You can purchase on an exchange, such as Coinbase. However, if you keep your money on the exchange, there’s a good chance they’ll collapse and steal it from under you, and unlike real life, all the blame will fall on you, the customer. I wanted to use Coinbase, because they appeared the least likely to collapse. However, I was informed by someone else who had also bought the product I was after, that Coinbase actually blocks/cancels sending money to certain wallet addresses that belong to ‘known vendors’. So, what’s the point of Bitcoin, then? Instead, I went somewhere else. Blockchain.com was recommended to me. It turns-out that you have to verify yourself to them, before you can purchase any Bitcoin. That means, a photo of yourself, and some form of government-issued ID. Where the fuck is the privacy? Anyway, the pictures I took with my iMac camera weren’t sufficient (their ‘team’ rejected me), so I gave-up. Now there’s two pictures of me and my driving license on their server for the rest of time, I guess. Next, I was recommended to try ‘localbitcoins.com’. This site works a bit differently, in that it’s not an exchange, but rather it just lists people who want to sell Bitcoin, what their terms of sale are, their exchange rate, etc. Methods of payment? National bank transfer: I'm not doing that. Cash: That means actually meeting some dude in person and negotiating with them. Are they crazy? I’m not meeting someone somewhere in town to purchase currency. PayPal: Most convenient for me, but terrible exchange rate on it, and they require photo ID, and a picture of myself holding a special sign-up!!! As far as I can tell, there’s no way to own Bitcoin and remain anonymous, without having mined it yourself, which is no longer an option for the average person. Anyway, I get some BTCs. I purchase them using a credit card. It takes several days to acquire the total BTC required, because the exchange has daily limits. OK, fair enough. The thing is, though, owning that Bitcoin is terrifyingly stressful. You feel like you’re about to lose it every second. I kept refreshing the page. What if the other tabs in my browser can see this page, somehow? What if there's a rogue plugin in my browser? What if the exchange collapses? What if the exchange steals my money, because my wallet is only a temporary one on the exchange? I don't have a 'hardware wallet'? All these things will be my fault. I couldn’t wait to send my Bitcoin off to someone else, just so it wasn’t my responsibility to hold it. I had to give the exchange my phone number to send it to someone else, btw. Another piece of personal information gone. I suppose I’m supposed to use a burner for that. Sending it is also kind of scary, because you know if there’s one single character wrong in the address, it’s all gone into thin air. I copied and pasted that thing like seventeen times before I was comfortable. I also have to pay a fee to send it. I thought the whole point of Bitcoin was about avoiding fees? I made several deposits from filthy fiat into BTC, and every time, I’m losing money to the exchange, and trying to calculate how much BTC I’ll end-up with after all my fees are deducted. And I have to pay the Satoshi tax to send it, and there's a delay much longer than stuff like Visa and PayPal. In the end, nothing really went wrong, and the transaction was successful, but I'd still never do it again...
Guys, Polaris 10 and Vega 10 based cards are, due to the new mining craze, selling like hotcakes. The ROI is > 200% yearly, which is insane. Vega 10 cards are selling out at 50% above MSRP. This was not the case when AMD prepared their Q4 estimates - indeed, less than a month ago there were Vega 10 offers below MSRP! (https://hardforum.com/threads/newegg-ebay-465-99-vega-64.1947577/#post-1043309114). I am certain that AMD will beat its forecasts, and perhaps by a shockingly large amount. Furthermore, Q4 is seasonaly hardly weaker than Q3... Another core that would fetch a pretty penny is Fiji. It is almost as efficient as Vega, and it would easily sell in the 400 - 500USD range. It seems that the only card using Fiji selling currently is the Instinct MI8. Anyone know what they're sold for? This is yet another profit opportunity for AMD.
Wanted to just share a personal experience that may be applicable to weedstocks given the current discussion around priced in, valuations, etc. In 2010/2011 a friend and I were in college and got heavy into researching bitcoin and the idea of cryptocurrency. Bitcoin and later Litecoin were the only two coins available and I was mining on my iMac between classes, mostly for fun. I was part of a pool and at that time 1 block mined = 50 btc. Bitcoin was around $1 and aside from the theoretical and technical arguments for cryptocurrency, the constant point of discussion you heard on the main forums was that the power cost of mining was simply too high to generate a profit, unless you spent serious money for a decent rig, but even if you did the new GPU (and later ASIC) rigs were going to make your rig obsolete and you would need to spend at least 20K to effectively mine (but the power costs!). There was constant FUD that made me feel like I had missed the boat and simply got in too late. The point of this post is that in hindsight it was the absolute perfect time to start mining, the fundamental argument for why it could increase in value was solid, and the rising value + advances in technology made mining wildly profitable regardless of power costs. Over the past few years it's been surreal to see crypto specials on the evening news. (Things have obviously gotten out of hand but that's another topic altogether). I never made money on crypto because I figured I missed the boat. A lot of the comments on here remind me of those early days on the bitcoin boards. Valuations are totally bogus and far too high in many cases but I do think this is still early days and that some of these companies (or new ones!) will achieve massive financial success. Anyways, stick to your convictions, it's bound to be a bumpy ride. Here's to 50K subs and legalization of recreational cannabis in Canada being right around the corner. Edit: I want to make it abundantly clear that I'm not saying now is a good time to buy/hold.
Why did they choose to activate segwit first in the NY agreement? It seems like segwit is the experimental part and the part that moves away from the core principles of Bitcoin. By agreeing to HF to 2mb I'm assuming that they're saying that they're happy with a HF but I don't see why it is happening second. There's been a lot on here about how messy segwit is as a soft fork so why not delay it until a there is a decent HF implementation and see if a 2mb HF is successful at improving the current situation first?
Oh boy, another new guy with a heap of questions...
Hi there. Basically I want to buy Steam games with Bitcoin. But I don't wanna buy any Bitcoin. I want to see if I can mine it myself. I understand I won't get much by mining myself, but I'm just looking to be able to get a game every couple months or so. Am I an idiot who doesn't know what I'm talking about? I kinda feel like I am. But anyways I've got a few Qs. -what's a good mining software? Ive got an iMac I wanna use for mining, so is there any OS X friendly mining softwares? -I wanna join a pool, not go it alone. Is that feasible for me? And if so, what's a good place to find a pool? - what's a good way to keep track of my Bitcoin? I'm a bit confused with all the talk of wallets and banks and whatnot. Thank you, I appreciate any help you guys can give me!
I'm ordering a new iMac and have no idea whether or not to upgrade the video card. I'm not mining bitcoin or anything, but I do play video games on my computer sometimes, and I want to future proof as much as possible. Is the 580X significantly better than the 570X?
At this point I've fixed all the issues (hopefully correctly) that Apple's Xcode c++ compiler has with the quarkcoind source - I can build the daemon. make test has one failure: [code] test/key_tests.cpp:92:27: error: no matching function for call to 'Hash' uint256 hashMsg = Hash(strMsg.begin(), strMsg.end()); ~~~ /Users/mpeters/quarkDev/quark-mastesrc/hash.h:68:16: note: candidate function template not viable: requires 4 arguments, but 2 were provided inline uint256 Hash(const T1 p1begin, const T1 p1end, ^ /Users/mpeters/quarkDev/quark-mastesrc/hash.h:84:16: note: candidate function template not viable: requires 6 arguments, but 2 were provided inline uint256 Hash(const T1 p1begin, const T1 p1end, ^ 1 error generated. make: *** [obj-test/key_tests.o] Error 1 [/code] Hopefully that won't be too hard to fix. I'm almost there... While I have access to OS X I may see if there are any issues with building the qt binary as well, but fixing the unit test issue I think is first.
So my mother (50+yo) is currently selling one of her flats for Fiat/Cash. But her real estate agent (60+yo) talked to her about "the Bitcoins" and she got some scammy emails about getting rich with bitcoins! So now shes interested in them and asked me to show them to her and buy some with her! Ive been playing with bicoins at least since 2013 (first transactions and stuff i could track back currently) for a while, just buying some transfering them to my local wallet/run a node/tried mining, playing in online casinos with them, lost a few and cashed out some etc... And im working as a developer so my technical affinity is great! The first thing i told her was to ignore and delete all emails about bitcoins because i know there a a lot of scammy emails "Get rich with Bitcoins quick" etc. Im worried that ill miss to tell her some simple stuff (that i take for granted because of my technical affinity) because shes just using her iMac for Emails and eBay! So next weekend ill visit her and will help her to install a node and wallet on her iMac and try to buy some (~100€ i guess) just to show it to her, test them and play with it! (try, because i havent bought some for a while and am not sure if the verification security and stuff like that hasnt changed and made it harder because of money laundering and stuff like that! so im not sure if well get verified to buy some on some legit big exchange that fast) Should i tell her not to speak with other people than me and maybe few of our close family about bitcoins so nobody will try to scam her or stuff like that? And do you all have some other tips for me/her?
I have been closely watching the mining scene for only about 3 months, so excuse me if this sort of question is asked frequently, or is too speculative. Is all BTC mining now underwater, with a negative ROI? That's what it looks like to me. I initially got interested years ago, when the return was small and BTC was not worth much. I didn't mine because it seemed like a miniscule return on investment. Oh I wish I had started back then, those "worthless" BTCs would be worth a lot now. But I started getting more interested again when that Ars Technica article on the BFL Jalapeno appeared. Holy crap, a machine that prints free money. He made hundreds of bucks in a week. So I started checking it out. With the delays in BFL's product shipping, all the mining calculators show that any new investment in mining hardware will never break even. Difficulty is increasing so fast, that the only machines making money are already in place, and soon they won't even pay for the cost of electricity. Now just to screw this up even further, BFL did a classic "Osborne Effect" announcement of their new Monarch board. Their existing ASIC machines are obsolete. The new 28nm machine that does not exist yet, is promised to deliver 600Gh for 350 watts, and costs $4680. I ran the numbers through the mining calculator at The Genesis Block. Unfortunately their calculator seems to be down at the moment, but I recall running numbers on a Monarch, delivered even in December, would not break even unless BTC went up to 2000 per dollar! Now even accounting for BFL's broken promises, if I could buy mining hardware like this today and turn it on now, it would make a negative ROI. I run the numbers for every possible hardware I could buy, none of them are as cheap in dollars/Gh or Gh/watt as the Monarch. And none of them break even. I decided to track the existing performance of mining using my dinky Mac mini's GPU. It won't mine much, and GPU mining will never break even in a network full of ASICs. But it would give a rough index of how difficulty is affecting mining. Here's a rough description of my results. At this point, it looks like mining is doubling in difficulty every month. Nobody can make money unless either BTC rises in value dramatically, or the majority of miners give up and unplug their unprofitable mining hardware. So someone tell me if this assessment is realistic or not. At the moment, it looks like any new investment in mining hardware will result in turning every dollar of investment into 50 cents worth of BTC at most. With increasing difficulty, soon even existing mining hardware will be turning every dollar of electricity into less than a dollar worth of BTC. ROI is underwater now for new hardware, and soon will be underwater for all hardware, even advanced ASICs that haven't even shipped yet. There are only two ways that mining might ever make a profit. One is if almost everyone gives up when their miners become unprofitable. The other is if BTC goes up massively in value to like $2500/USD, which will only fuel the arms race even more. Yeah, I know there is a big incentive to spread disinformation to convince people to drop out of mining. So don't try to BS me. Let me hear your honest assessments, or please point me in a direction where I can do research to figure this out.
Need your help. Several ideas we can put into motion.
Thanks for the comments on the video! It has been added by Boris-The-Spider to Vertcoin.org's homepage! Some ideas: 1) We should be the coin for the gaming industry. Video games are a huge area where there is a need for crypto - gaming credits are essentially walled gardens, but a good crypto like Vert has directly convertible real world value. Millions of gamers in this country alone. And as a gamer, I'd rather win Vertcoin than useless credits. Just posted the video to gaming, please check it out over there and help answer any questions from people there- http://www.reddit.com/gaming/comments/241onb/bitcoin_litecoin_vertcoin_the_evolution_of_choice/ 2) The community should fast track one click miner development. I'd like to see Vertcoin mining software running in every dorm room, in every office, in every neighborhood. This is how you keep a decentralized currency vastly decentralized. There's still a barrier to entry to becoming a Vert miner, and that barrier to entry is tech know-how. Let's make mining Vert as simple as plugging in an iMac for the first time, or setting up a Reddit account. 3) A similar streamlining should be done for merchants. Maybe a page on the Vertcoin site offering merchants a number of choices in storefront providers/processors, and then a suggestion that they post a link to their store in this subreddit so we can all check it out, give feedback if the implementation needs any changes, and - of course - so we can shop there using our coins! Cheers everyone. Feel like we're moving along at a great pace, and as a reminder I'm not a developer or official voice of the coin so take what I say as simply suggestions.. And on a final housekeeping note, one thing that's very exciting is that we can probably avoid many of the pitfalls Bitcoin encountered. The Bitcoin Foundation, a PR nightmare at the moment, was created because many governments and users didn't even know what a crypto currency was, so some entity was "needed" to be an interface between the real world and online. Now that Bitcoin is a household word, and crypto currency is much better understood by the public, such pretentious and dangerously centralized organizations are unnecessary. Vertcoin should remain the people's coin. Plus, now that some major governments including the US have decided crypto coins are electronic property and not currency, there's even less of a need for an old paradigm "foundation" to look out for Vertcoin's interests. Vert users should look out for our own interests, as a whole. David
Best way to make/spend BTC without spending a ton of real dollars?
So, I'm trying to save up for a new iMac, among other things, and wondered the best way to make enough BTC to exchange it for a few dollars and then put it into PayPal. I have scene sites like justbeenpaid.net, but I'm not sure how much real world money I have to invest in that site to get good returns, probably over 1K. The only exposure I have to making BTC are those fauset websites that barely send a penny, much less a dollar. Perhaps I'll spend a little real money to exchange it for BTC, but I don't see the logic in that since I really am not up for trading, if I could make enough BTC to spend it on something decent I'd do that. The computer store I've scene that sells bitcoin related stuff the BTC is pretty high, and BTC is about the same as a dollar I'd think, so if something's 1K in dollars you need a ton more BTC to match it. On a side note, how powerful does my computer have to be to mine? I plan on getting an iMac with the latest processor it has, plus 16 GB of ram and a 1 TB Fusion drive. How much ram is adiquite for BTC mining. Thanks all. Do people spend BTC anywhere? I know most people invest it from all the discussions I've scene online.
Hey fellas. I have been reading a lot about Bitcoin and am very interested in mining. I have a top of the line i7 iMac that basically sits around all day doing nothing. I was wounding if I'd be able to make a few bucks by using it to mine bitcoins in a pool or something. Does anyone have any tips on this or generally any advice as to where to start? Any idea how much I could make?
$5000 to invest, build rig? how much can i average?
hi, im new i just saw on a fb post about bitcoins and did some research, i have about $5000 usd saved, im thinking would it be a good idea to invest in a mining rig? or maybe few rigs with that money? how much can i expect to make on average perday or permonth with the 5k invested? say if the price of bitcoins is at 50,100,150 just to see differences, (p.s. i was thinking of building a pc lately and this might be a chance, also i have decent knowledge of how to build a pc) edit: nice thanks, also i have an imac i think its the model before the latest it has 6950m and i5-2400 @ 3.1ghz also i have a macbookpro latest with 2.3ghz i7 turbo boost to 3.3ghz and has nvidia 650m question with these i have so far would it be better to mine ltc or btc? thanks in advance much appreciated!
QuarkCoin is a crypto-currency, a fork of bitcoin. I like it because: *) Must faster block time, ~ 30 seconds *) CPU mining, ASICs can't do it and it is doubtful they ever will *) Coin supply is not capped, which discourages hoarding -=- Right now you should consider it to be play money, don't go selling your house and dumping it into QuarkCoin. Most derivatives of bitcoin ultimately fail. But anyway - while there is a GUI qt client for quarkcoin, there is not an official headless daemon release, and me - I like headless, I'm a Linux guy at heart and I like to be able to have it start / stop via the crontab. Patches to get the daemon to build in OS X are here, written by me: http://www.domblogger.net/puzzle/q/ make test currently fails, but not because of the daemon - but a bug in the test code (Xcode c++ compiler is very strict and not very forgiving) There's also a shell script in that directory to aid in controlling the daemon. What I do is put the daemon and shell script in ~/bin/ and then use the cron daemon to start the daemon every hour on the hour and stop the daemon at 45 after the hour. With iMacs etc. Apple didn't design them for constant CPU use so you don't want the daemon mining 100% of the time or eventually it could damage your hardware. Watch your CPU temps and adjust how long you let the daemon run accordingly. To build it - okay you need Xtools with the command line stuff installed. I used MacPorts for other dependencies. Those other dependencies being: sudo port install boost [email protected]+no_java openssl miniupnpc The QuarkCoin source is at https://github.com/MaxGuevara/quark Get the zip, unpack it, apply the two patches, and then you can build it by going into the src directory and typing make -f makefile.osx -=- Not trying to sell any doubters on QuarkCoin - just providing patches for those who want to play with it on OS X and would like to use the headless daemon instead of (or in addition to) the official qt GUI client. The quark homepage : http://www.qrk.cc I'll try to help anyone who is trying to build this and is having trouble, but keep in mind I'm a Linux guy, not an OS X guy. Just happen to currently have access to a Mac running OS X.
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How to Mine Crypto Currency Using Your Apple Mac (The Easy Way)
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