Deep Web/Bitcoin Mining

[slammin.e28]

No one will take bitcoins for Springs and an IS lip.

I see this as a challenge.

OP....get to it.

[Massimo]

This is real, its shady and most of you guys would probably get yourselves killed.

The government is spending a shit ton of money into tracking these people.
Its not as anon as you think.

No one will take bitcoins for Springs and an IS lip.

Yes they are but they are not going to be decoding on the fly they will be storing data from people they suspect then decoding it when they need it or have the time to review the information. There is no computer in the world that could decode data on the fly in real time.

Deepweb is going no where and nor is the bitcoin, while their are highly illiegal activites there are legit as well. Bitcoins are not illiegal, and never will be.

On anther note, if you are into this you need an AMD card. Nivida cards are not designed for pure power, more optimised coding for gaming, while amd is all about raw power and blows all nvidia cards away. (this is an over simplification)

A system with 4 amd hd7970 will pull about 2.5Ghash over a year this is about $5000 with about $1800 in electricity at about 14cents per watt. therefore you will come out with $3200. But then you need to factor in the cost of the rig which in AUS is about $4500 which means it will take me 1.5years to break even.

That is if I do not have any failers as it seems to be very common, and warrenties only last a year. You can make a profit on this but really requires dedication, and is pritty much a full time job.

If I was to buy a 20kwh solarpanels for my home I could do this with cost of electricity but 20kwh solarpanels are about 17grand.

If you get free electricity and are not doing this then you are crazy.

[Rsully70sev]

This is real, its shady and most of you guys would probably get yourselves killed.

The government is spending a shit ton of money into tracking these people.
Its not as anon as you think.

No one will take bitcoins for Springs and an IS lip.

Way over exaggerated, the government doesn't give a fuck about bitcoining. They care about the actual hidden web and the vendors, especially the crazy ones like slaves, assassinations, etc. They will never be found, believe me if they're on there they're running a proxy, torbrowsers, tormail, and tons of other shit. One second their IP addy says "Pakistan, then Switzerland, then Germany, then France, etc."

You're correct, no one will take bitcoins for springs or an IS lip, however the point is to sell them. You can sell them on MtGox which handles most of the trading. Their value is low on here because they don't take simple forms of payment. They take anonymous payments such as bank deposits, etc. Then it takes a week and your money is washed clean into a bitcoin, or vice versa. These are most likely the ones using them for big shit.

However, you can easily sell them on places like ebay with a snap of a finger. These are people trying to look at 16 y/o British tities, or just use them for low end, low risk activities. Go ahead, type bitcoin into Ebay. All it is is a transfer between your wallet and their wallet.

[Rsully70sev]

Deepweb is going no where and nor is the bitcoin, while their are highly illiegal activites there are legit as well. Bitcoins are not illiegal, and never will be.

qft

On anther note, if you are into this you need an AMD card. Nivida cards are not designed for pure power, more optimised coding for gaming, while amd is all about raw power and blows all nvidia cards away. (this is an over simplification)

qft

If you get free electricity and are not doing this then you are crazy.

qfft.

[Massimo]

I am trying to firgure out how I can claim a new pc on tax with 4 7970s :)

I do some vizualizations for work with 3ds max, unfortunatly it dose not support gpu rendering. But as soon as it dose hello new pc.

[Raxe]

Sorry to be a fun sucker, but almost all of the crazy illegal stuff you read about being on the deep web is fake. Not that the sites don't actually exist, but they are fake and made for the lulz.

The only real thing on the hidden-wiki level "deep web" is drugs and a whole 'lotta cheese pizza.

[pandaboo911]

The nvidia 580gtx card i paid $500 for only puts out 160 Mh/s.

So what is all this processing power being used for I wonder. Is somebody using it to calculate decimals of Pi? lol

[Massimo]

The nvidia 580gtx card i paid $500 for only puts out 160 Mh/s.

So what is all this processing power being used for I wonder. Is somebody using it to calculate decimals of Pi? lol

The caculations are done with whole numbers, while gpus are designed for floating point which have decimals. Nvidia cards have lots of different cores some normal floating point, some cuda cores ect ect. Problem being cuda cores don't do shit when it comes to this.

Amd only has floating point cores which is what you need. Now I hear you say "but the calculation is not floating point" yes that is true but they can still calculate whole numbers (I think it converts it or something) just not very efficently.

End of the day complex calcualtions require raw power and that is it. No special coding is going to do shit.

[Massimo]

browsing z forums...



Some people are for serious. 54 gpus!!!!

Oh and just sore this

[MonkeyMadness]

Interested.....


but so lost... O_o

[swingard]

So I spent the evening researching this because it is so damn interesting... With my limited research I have concluded that A.) This seems like a fun thing to try, or maybe even do as a hobbie B.) To be profitable to any extent it would have to be done on a very large scale, cost of electricity and start up costs would keep you from making a profit for atleast 2 or 3 years. C.) the amount of bitcoins released will drop from 50 to 25 for each cell solved sometime in 2012 (not sure how that will affect the exchange rate)

At any rate 6 hours ago I was like hell yeah!! Honey, go throw the kids in their car seats we going to buy us some graphics cards!!!!!! Now im like "Damn, guess I'll go back to work tomorrow."

[Massimo]

C.) the amount of bitcoins released will drop from 50 to 25 for each cell solved sometime in 2012 (not sure how that will affect the exchange rate)

This will effect the exchange rate in the short term but once things calm down bitcoins should double in price. Otherwise there would be no profit in it.

The reason for only 25 bitcoins is because we are about to reach 210,000 blocks solved. I believe it will halve again when we reach another target amount.

I have also read about these custom made gpus calld FPGA, they connect via usb and only use something like 6w at about 200mhash, they rage from $500 for a 200mhash to a $1200 for a 840mhash (the last one is basically four chips on one pcb) If you are going to do this they seem to be the way to go, they don't use much elec, and due to the low power consumption last a long time. Obviously the initial cost is the killer, but atleast you wont have to replace it for a few years, and you want have to rewire you house lol.

With the $1200 version you will break even in 258 days. Pritty good if you ask me. That is with a $0.20 per kw and $14.5usd per bitcoin.

That is not factoring the elec cost of the PC it needs to be plugged into.

[kickinindian]

link to FPGA cards? i have been wanting to mine for some time but i only have a laptop with an older Nvidia GPU and that USB link one sound like my ticket to Mining!

[CHIF8008]

who wants death for breakfast?

[5Toes]

No way USB supplies that much power.. they would need a fan for cooling as well