The Deep Web

[cunninglinguist]

If I understand, mining is like cloud computing. Each client is to solve a alogrithm that is served and distributed to the pool.
How are the algorithms alotted to the pools? I mean somebody is paying for the computing power to generate the hashes, right?

[5Toes]

Been here done this with Cybernix

We are waiting for our friends bitcoin account to get approved lol

Hardest part is really just getting the bitcoins... we used a place from the southwest

[DatUtahGuy]

My culo just exploded inside out. Shit is wild!!

[Rsully70sev]

I went away for the weekend so I didn't want to leave my computer running while mining. (in case a fan failed and temperatures went insane) so I just started up again.

In my personal group, the more shares you compute (the more your PC does for the group) the bigger pay out you get. I started at 0.000016 BTC per round, now I'm at 0.256 BTC per round. Rounds go by when you "solve a block"...it's basically a very complicated math solution your computer works on (or works on with people)...if you're lucky enough to solve your own, it pays 50 full BTC's. In a pool the 50 bitcoins are shared between the contributors. One guy in my pool is obviously running a rig at 12,000 Mhash/s. He has personally solved 84 blocks himself, that's 50x84= 4,200 bitcoins. On something like Mt. Gox that would be about $34,000. On ebay or other traders it could be pushing $80,000. CRAZY!

I'm just going to off and on mine and keep them as investments. At one point they traded on Mt. Gox for $24+ each...on other websites that was probably $50 a BTC. So I'll save them and see where their value goes.

[chadthestampede]

that's 50x84= 42,000 bitcoins.

no

[Chaz]

I went away for the weekend so I didn't want to leave my computer running while mining. (in case a fan failed and temperatures went insane) so I just started up again.

In my personal group, the more shares you compute (the more your PC does for the group) the bigger pay out you get. I started at 0.000016 BTC per round, now I'm at 0.256 BTC per round. Rounds go by when you "solve a block"...it's basically a very complicated math solution your computer works on (or works on with people)...if you're lucky enough to solve your own, it pays 50 full BTC's. In a pool the 50 bitcoins are shared between the contributors. One guy in my pool is obviously running a rig at 12,000 Mhash/s. He has personally solved 84 blocks himself, that's 50x84= 42,000 bitcoins. On something like Mt. Gox that would be about $34,000. On ebay or other traders it could be pushing $80,000. CRAZY!

I'm just going to off and on mine and keep them as investments. At one point they traded on Mt. Gox for $24+ each...on other websites that was probably $50 a BTC. So I'll save them and see where their value goes.

You're in team Nexgen? That has some 100 plus miners. Would you think it would be better to join a bigger group like that where blocks are more likely to be solved faster but smaller payout or to join a smaller group of a few members where payout would be big but take longer. And how long do rounds usually last?

[Rsully70sev]

no

My mistake. For some reason I still used the correct number for the dollar figures, so those stay the same.

[Rsully70sev]

You're in team Nexgen? That has some 100 plus miners. Would you think it would be better to join a bigger group like that where blocks are more likely to be solved faster but smaller payout or to join a smaller group of a few members where payout would be big but take longer. And how long do rounds usually last?

Yea I'm on Team NexGen [Hendrix808] I really can't say, Im just getting into mining. I'd imagine it would take weeks to solve a block by yourself that's why there's teams. Fucking TechPC had a peak Mhash/s of 133,000 at one point. My peak was 500 something, so with him on my team shit is going to get solved. Im thinking about investing in a rig with a friend and just building it to mine.

[herbivor]

Patiently waiting for the Hollywood movie to be made about this subject. Interesting as hell but I'm too busy/lazy/stupid/smart to look into it any further than this thread.

[mrsleeve]

Interesting as hell but I'm too busy/lazy/stupid/smart to look into it any further than this thread.

Whoa I just quoted herbi in agreement yikes strange day :)

[Rsully70sev]

Insane.

[Mr. Tasty]

Insane.

could heat a house with that.

[myinfernalbmw]

So there's an internet under the internet? ishitbrix

[cale]

Some interesting stuff you got going on here rsully, one question though...the legality of it all. Is it legal? Do people make legitimate businesses out of this?

So there's an internet under the internet? ishitbrix

Xzibit is behind it all, he put an internet in our internet.

[Rsully70sev]

Some interesting stuff you got going on here rsully, one question though...the legality of it all. Is it legal? Do people make legitimate businesses out of this?

Well, people argue that rigs for mining cause inflation, but I don't agree. Bitcoining is 1000% legal. It's just an online form of currency, I'm just using GPU power to mine. How you spend it, or what you do with your bitcoins is what makes it legal/illegal. I'm personally going to save them and sell them on eBay or some shit. But if someone were to take them to the silk road and buy an unregistered glock [200 BTC's] that would obviously be illegal.