WTF!! BITCOIN MINING - Page 6

rickss69 · #1 06-12-2011

Whatever the issue is it was enough to discourage me from pursuing it any further for the time being.

V2-V3 · #2 06-28-2011

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Bones · #3 07-03-2011

Things are beginning to take shape.
I can get a quad set of 5670's setup in crossfire and that should be good enough to start with. Of course as I get more coins I'll gradually upgrade things and keep mining.

Already have a new board coming to me so the MSI gets the honors for mining with those GPU's once I have them - Now I have to decide which chip I want to dedicate to mining, I'm thinking the 720BE since it runs cool yet clocks well, esp for a C2 chip.
Only problem I might have is keeping it all cool since this room isn't normally air conditioned and that could be a real issue. It does have an AC unit but the wiring layout of the house has it and the one for the living area on the same circuit meaning it trips the breaker if I run both at the same time.

Just one of those things you discover and deal with as needed.

Oh yeah - I'm hoping once it's all setup that doesn't trip the breaker either with the living area AC running.

DrNip · #4 07-04-2011

So if I get this right you are pretty much just creating your own currency. I've read various articles on how the government is getting or going to get involved and that crack downs may happen. The more that get involved the more this will show up on the radar. To be honest I want to mine but this has me scared. Something about creating my own currency sounds too much like counterfeiting money to me. When something is too good to be true then it is and I stay away. I'm sure this is legal now as it is still new. Give it time and it won't be.

Bones · #5 07-04-2011

Quote:

Originally Posted by DrNip

So if I get this right you are pretty much just creating your own currency. I've read various articles on how the government is getting or going to get involved and that crack downs may happen. The more that get involved the more this will show up on the radar. To be honest I want to mine but this has me scared. Something about creating my own currency sounds too much like counterfeiting money to me. When something is too good to be true then it is and I stay away. I'm sure this is legal now as it is still new. Give it time and it won't be.

I'd look deep into it as I'm doing now.

I haven't seen anything saying it's not legal (Yet) but I did run across where it was stated as possibly used for money laundring as an example.
http://en.wikipedia.org/wiki/Bitcoin

I do think what's being done is you're doing computational work similar to folding and getting paid to do it, hence the mining part of it.
It was stated that as time and more folks begin mining, the more difficult it will be to get coins with the same computational power. Those that started early will have more than those who start later.

I've been thinking about exatly what cards to use and although I can do as stated above, I'm having to guess a really good pair of cards will outmine the 5670's even if they are in quad-crossfire.

DrNip · #6 07-04-2011

I've looked deep into it and too many people have or keep asking if it is legal. Something wrong with that. I know that I had the old Lian Li ripped apart to the frame and a 6850 in the shopping cart ready to go with this until I had second thoughts.

Bones · #7 07-05-2011

I've been going "Hmmm" about it myself lately and for now have decided to error towards the side of caution.

Not saying there's actually anything wrong with it but like Dr. Nip I've got a vibe about it that says to be careful.

V2-V3 · #8 07-09-2011

Quote:

Originally Posted by Bones

I've been going "Hmmm" about it myself lately and for now have decided to error towards the side of caution.

Not saying there's actually anything wrong with it but like Dr. Nip I've got a vibe about it that says to be careful.

I don't think the internet police will be coming after me for mining bitcoins on my GPU's

If a law does get passed making it illegal I will stop mining. however my current Overclocking hardware allocated to mining is netting me some nice cash and paying for my LN2 habits

Kal-EL · #9 07-09-2011

o.k. you have my attention now. I'll be digging into this from a law enforcement standpoint, obviously. Let you know in a few days if the topic of bitcoining will be allowed or permitted on the OCA forums. Anything that remotely supports fugazi's goes out the window.

Kal-EL · #10 07-10-2011

out the window: Bitcoining has no place on these forums. The dictator has spoken.