Staredit Network > Forums > Technology & Computers > Topic: Cryptocurrency
Cryptocurrency
Dec 17 2013, 2:23 am
By: rockz
Pages: 1 2 37 >
 

Dec 17 2013, 2:23 am rockz Post #1

ᴄʜᴇᴇsᴇ ɪᴛ!

In case you haven't heard, there's this thing called bitcoin. Over thanksgiving the price went up to $1200 each. Kinda ridiculous for something that really has no conceivable value, and many expect it to fail miserably, while others expect bitcoins to be valued at a small percentage of the global black market (think billions of dollars spread out over 25 million maximum bitcoins by the year 2040).

What can certainly be said is that bitcoins are fun to play around with and gamble with stocks/money that you created yourself. There's just one problem: It's not feasible to mine bitcoins anymore. With so many people mining, and the difficulty so high, you have to spend $10000 to get any reasonable amount back, and even then it won't pay off.

Enter Altcoins:

altcoins are derivatives of bitcoins which are much easier to mine due to their age and for other reasons. The most prevalent of these is Litecoins, which are currently worth $20-$30 each, and they're actually feasible to mine (using a 7950 I can get 1 LTC a week). I won't go into details on how to mine, as all you need to do is join a pool and click their "getting started" link.

However, even these other cryptocurrencies payout very small amounts over time, and they're relatively old for a cryptocurrency. The price in USD may be unstable, but the mining speed is very stable (ie slow). There's a much newer currency which is definitely on the rise:


Dogecoin - such profit

All jokes aside, dogecoin is currently 10 days old, so if you start mining now, you can actually gain a lot. At the current exchange rate, I've made ~$600 in the past week, and I could feasibly cash out right now. Dogecoins have the advantage of being hilarious, very young, and a quick and easy way to make some cryptocurrency to play around with without actually spending any money other than electricity. If you can time the bubbles right, you can even buy low and sell high on a day to day basis. Places like coinedup.com, btc-e and mtgox will let you trade cryptocurrencies, even for real money.

If you let bitcoin pass you by, there's still time to get in for free.



"Parliamentary inquiry, Mr. Chairman - do we have to call the Gentleman a gentleman if he's not one?"

Dec 17 2013, 4:16 am Sacrieur Post #2

Still Napping

much profits yes



None.

Dec 17 2013, 4:47 am payne Post #3

:payne:

I never really understood this whole cryptocurrency thing.
They are supposed to be used as an alternative currency, or they can be used to cash in with actual money?



None.

Dec 17 2013, 5:06 am O)FaRTy1billion[MM] Post #4

👻 👾 👽 💪

I can mine coins and use my laptop as a space heater!

Some websites accept these currencies to buy things, and you can also sell them for real money.

EDIT;
How many do you have? O.o I've been doing this for a very short while, and calculating the dogecoin to bitcoin to USD, I almost have 1/10th of a cent. Do you just have an amazing computer and connection or something? xD

Post has been edited 2 time(s), last time on Dec 17 2013, 6:02 am by FaRTy1billion.



TinyMap2 - Latest in map compression! ( 7/09/14 - New build! )
EUD Action Enabler - Lightweight EUD/EPD support! (ChaosLauncher/MPQDraft support!)
EUDDB - topic - Help out by adding your EUDs! Or Submit reference files in the References tab!
MapSketch - New image->map generator!
EUDTrig - topic - Quickly and easily convert offsets to EUDs! (extended players supported)
SC2 Map Texture Mask Importer/Exporter - Edit texture placement in an image editor!
\:farty\: This page has been viewed [img]http://farty1billion.dyndns.org/Clicky.php?img.gif[/img] times!

Dec 17 2013, 7:37 am NudeRaider Post #5

We can't explain the universe, just describe it; and we don't know whether our theories are true, we just know they're not wrong. >Harald Lesch

I tried cgminer but it doesn't work.

Created an account + worker @ http://doge.scryptpools.com

I started it (as admin) with this command line: cgminer.exe --scrypt -o tcp://doge.scryptpools.com:3333 -u Doge -p [my PW]
also tried this: cgminer.exe --scrypt -o stratum+tcp://doge.scryptpools.com:3333 -u Doge -p [my PW]

After about 20s the window just states
probing for alive pool
pool difficulty changed to 64
pool 0 slow/down or credentials wrong

and after a bit to goes blank and thats it. No GPU or CPU load. But I put in the correct username and PW for my worker I created. I copied the url / port from the website. So what's wrong? Or is it a thing that pools go down from time to time?




Dec 17 2013, 8:09 am Apos Post #6

I order you to forgive yourself!

I was wondering when a thread about Bitcoins would come up.

Correction in the OP: there will only be 21 million Bitcoins produced, though that 21M will never be reached as the production is halved every 4 years. It is estimated to reach that amount by the year 2140.

Quote from NudeRaider
I tried cgminer but it doesn't work.

Created an account + worker @ http://doge.scryptpools.com

I started it (as admin) with this command line: cgminer.exe --scrypt -o tcp://doge.scryptpools.com:3333 -u Doge -p [my PW]
also tried this: cgminer.exe --scrypt -o stratum+tcp://doge.scryptpools.com:3333 -u Doge -p [my PW]

After about 20s the window just states
probing for alive pool
pool difficulty changed to 64
pool 0 slow/down or credentials wrong

and after a bit to goes blank and thats it. No GPU or CPU load. But I put in the correct username and PW for my worker I created. I copied the url / port from the website. So what's wrong? Or is it a thing that pools go down from time to time?
You need to create a worker first. For example, I set mine to Apos.1 with 'x' as the password. If you have other computers, then you can create more workers such as Apos.2.

Essentially, once you create a worker, it doesn't matter if others know that password since if they use it, they'll just be working for you.

Edit:

So if you want to mine for me, here is the command you'd have to use:
Code
cgminer --scrypt  -o stratum+tcp://doge.scryptpools.com:3333 -u Apos.1 -p x

Though I would suggest optimizing that command for your GPU, for example, in my case, I get a better hash rate using:
Code
cgminer --scrypt  -o stratum+tcp://doge.scryptpools.com:3333 -u Apos.1 -p x --shaders 480 --intensity 10 --worksize 128 -g 1


Post has been edited 3 time(s), last time on Dec 17 2013, 8:20 am by Apos.




Dec 17 2013, 9:16 am O)FaRTy1billion[MM] Post #7

👻 👾 👽 💪

I can't get cgminer to work. :\ It just crashes immediately after "[2013-12-17 02:13:55] Started cgminer 3.7.2". :\ I guess I'm stuck with the cpuminer.
And all the while I was trying to figure out cgminer I could've been mining (and heating my room!). D: I only have like 5 dogecoin.

I put this on my desktop as another worker too, and my laptop gets like 14x as much hash/s. xD I haven't tried cgminer on the desktop. ...

Does it matter what pool you join?

Post has been edited 1 time(s), last time on Dec 17 2013, 9:57 am by FaRTy1billion.



TinyMap2 - Latest in map compression! ( 7/09/14 - New build! )
EUD Action Enabler - Lightweight EUD/EPD support! (ChaosLauncher/MPQDraft support!)
EUDDB - topic - Help out by adding your EUDs! Or Submit reference files in the References tab!
MapSketch - New image->map generator!
EUDTrig - topic - Quickly and easily convert offsets to EUDs! (extended players supported)
SC2 Map Texture Mask Importer/Exporter - Edit texture placement in an image editor!
\:farty\: This page has been viewed [img]http://farty1billion.dyndns.org/Clicky.php?img.gif[/img] times!

Dec 17 2013, 1:39 pm Leeroy_Jenkins Post #8



I can't get cgminer to work either :/. How do you run cpuminer to the correct settings?



None.

Dec 17 2013, 4:34 pm Sacrieur Post #9

Still Napping

I'm running GUIMiner, which is a GUI for mining (that command line stuff is so lame).

Host: doge.cryptopool.it
Port: 3322

Link for pool here.

Edit: updated pool.

Post has been edited 1 time(s), last time on Dec 17 2013, 4:47 pm by Sacrieur.



None.

Dec 17 2013, 4:54 pm rayNimagi Post #10



Looks interesting, I'll give it a shot.

Quote from rockz
At the current exchange rate, I've made ~$600 in the past week, and I could feasibly cash out right now.

1 US dollar is 10,000 Dogecoins, so how did you get so many Dogecoins?



Win by luck, lose by skill.

Dec 18 2013, 12:07 am O)FaRTy1billion[MM] Post #11

👻 👾 👽 💪

Quote from Leeroy_Jenkins
I can't get cgminer to work either :/. How do you run cpuminer to the correct settings?
I've been running it with:
Code
minerd --url=stratum+tcp://wherever:port --userpass=you.worker:pass


Quote from Sacrieur
I'm running GUIMiner, which is a GUI for mining (that command line stuff is so lame).
Does it work better than cpu mining? I'm only getting ~30 Khash/s, and my other computer gets ~2 with the cpu miner. I tried cdminer on my other computer and it works, but I don't think I have it set up correctly. I lowered all the parameters because it kept giving an error and saying disabling GPU mining. I think I got it to work and the site reports ~7 Khash/s.

And does it matter what pool I use? xD I now am aware of 3 pools. Is there a difference?

Post has been edited 1 time(s), last time on Dec 18 2013, 12:12 am by FaRTy1billion.



TinyMap2 - Latest in map compression! ( 7/09/14 - New build! )
EUD Action Enabler - Lightweight EUD/EPD support! (ChaosLauncher/MPQDraft support!)
EUDDB - topic - Help out by adding your EUDs! Or Submit reference files in the References tab!
MapSketch - New image->map generator!
EUDTrig - topic - Quickly and easily convert offsets to EUDs! (extended players supported)
SC2 Map Texture Mask Importer/Exporter - Edit texture placement in an image editor!
\:farty\: This page has been viewed [img]http://farty1billion.dyndns.org/Clicky.php?img.gif[/img] times!

Dec 18 2013, 2:16 am Leeroy_Jenkins Post #12



Quote from O)FaRTy1billion[MM]
Quote from Leeroy_Jenkins
I can't get cgminer to work either :/. How do you run cpuminer to the correct settings?
I've been running it with:
Code
minerd --url=stratum+tcp://wherever:port --userpass=you.worker:pass
Awesome, I'm finally mining. Whatever that means. such profit. wow. very thanks.



None.

Dec 18 2013, 3:10 am O)FaRTy1billion[MM] Post #13

👻 👾 👽 💪

Quote from NudeRaider
I tried cgminer but it doesn't work.

Created an account + worker @ http://doge.scryptpools.com

I started it (as admin) with this command line: cgminer.exe --scrypt -o tcp://doge.scryptpools.com:3333 -u Doge -p [my PW]
also tried this: cgminer.exe --scrypt -o stratum+tcp://doge.scryptpools.com:3333 -u Doge -p [my PW]

After about 20s the window just states
probing for alive pool
pool difficulty changed to 64
pool 0 slow/down or credentials wrong

and after a bit to goes blank and thats it. No GPU or CPU load. But I put in the correct username and PW for my worker I created. I copied the url / port from the website. So what's wrong? Or is it a thing that pools go down from time to time?
I tried that pool and it said it couldn't connect. ;o

How can you tell if a pool is a good one to be in? Or is it better to be in a bunch of them? I don't have a lot of processing power, so I want to just stick to something that isn't going to be completely unreasonable. :P Should I try getting litecoin?



TinyMap2 - Latest in map compression! ( 7/09/14 - New build! )
EUD Action Enabler - Lightweight EUD/EPD support! (ChaosLauncher/MPQDraft support!)
EUDDB - topic - Help out by adding your EUDs! Or Submit reference files in the References tab!
MapSketch - New image->map generator!
EUDTrig - topic - Quickly and easily convert offsets to EUDs! (extended players supported)
SC2 Map Texture Mask Importer/Exporter - Edit texture placement in an image editor!
\:farty\: This page has been viewed [img]http://farty1billion.dyndns.org/Clicky.php?img.gif[/img] times!

Dec 18 2013, 5:07 am rayNimagi Post #14



On Mac OS X 10.7, neither Asteroid, cgminer, or MacMiner work properly (even command-line doesn't work). I'm going to update to Mavericks since it looks like those programs aren't supported on my OS version.

I've also considered just buying a bunch of dogecoins and hope that they'll eventually increase in value, rather than slowly mining them.



Win by luck, lose by skill.

Dec 18 2013, 5:59 am payne Post #15

:payne:

Quote from payne
I never really understood this whole cryptocurrency thing.
They are supposed to be used as an alternative currency, or they can be used to cash in with actual money?




None.

Dec 18 2013, 6:05 am Apos Post #16

I order you to forgive yourself!

Quote from payne
I never really understood this whole cryptocurrency thing.
They are supposed to be used as an alternative currency, or they can be used to cash in with actual money?

Quote from We Use Coins
Bitcoin is a new kind of money. It's the first decentralized electronic currency not controlled by a single organization or government. It's an open source project, and it is used by more than 100,000 people. All over the world people are trading hundreds of thousands of dollars worth of bitcoin every day with no middle man and no credit card companies. It's a startup currency which has never happened before.

Bitcoin is the first digital currency that is completely distributed. The network is made up of users like yourself so no bank or payment processor is required between you and whoever you're trading with. This decentralization is the basis for Bitcoin's security and freedom.

Email let us send letters for free, anywhere in the world. Skype lets us make phone and video calls for free, anywhere in the world. Now there's bitcoin. Bitcoin lets you send money to anyone online, anywhere in the world for less than a cent per transaction! Bitcoin is a community run system not controlled by any bank or government. There's no wallstreet banker getting rich by standing between you and the people you want to send and receive money from.

Bitcoin is more efficient than all competing currencies. This will drive its adoption in the same way computers were adopted, in that computers made people more efficient in competing in the marketplace. A currency has value by it being widely used. Bitcoin is a startup currency with a deflationary bootstrapping economy. Its use spreads by providing the speculator incentive.

Bitcoin is going to be the biggest opportunity for innovation that the world has seen since the industrial revolution. An idea whose time has come.

Or in video:


Edit: To answer your question, you can use it as an alternate currency, or you can exchange it some for actual cash locally or at an exchange. In Canada, Vaul of Satoshi would be an example of an exchange.

Post has been edited 3 time(s), last time on Dec 18 2013, 6:15 am by Apos. Reason: Found a typo...




Dec 18 2013, 6:18 am Sacrieur Post #17

Still Napping

Quote from payne
I never really understood this whole cryptocurrency thing.
They are supposed to be used as an alternative currency, or they can be used to cash in with actual money?

They can be used outright to buy things online from dealers who accept crytocurrency.

Or you can trade them on an online market for conventional currency, works the same way as would switching between currencies.

For more intricacies about how currencies work, see Spice & Wolf season 1.



None.

Dec 18 2013, 7:04 am NudeRaider Post #18

We can't explain the universe, just describe it; and we don't know whether our theories are true, we just know they're not wrong. >Harald Lesch

Okay, solved my problems.
The first site/pool I tried seems to be down / not work.

The 2nd one (from Sac) works, but seems to be a scam. Looks exactly like the first site and I can enter any user/pw and will start mining. So who do I mine for if I just chose random letters for username?!

I just started at http://doge.cryptominer.net/index.php and it seems to work. However My Worker Page still says the worker is inactive. Does it mean I made a mistake with username / PW (unlikely) or do I just have to wait until the site updates?

EDIT:
Quote from O)FaRTy1billion[MM]
I don't have a lot of processing power
Quote from O)FaRTy1billion[MM]
I'm only getting ~30 Khash/s
What GPU do you have? Without optimizing the settings I only get ~20 KHash / s with cg miner. Actually my accounts says 60KHash / s, cg miners realtime data says ~20KH/s (not KHashs?). What's the "correct" value?

Also why not run cgminer and cpuminer on the same computer? :D

Update:
My worker now also shows to be working on my account.

Post has been edited 2 time(s), last time on Dec 18 2013, 7:17 am by NudeRaider.




Dec 18 2013, 7:42 am Sacrieur Post #19

Still Napping

Quote from NudeRaider
Okay, solved my problems.
The first site/pool I tried seems to be down / not work.

The 2nd one (from Sac) works, but seems to be a scam. Looks exactly like the first site and I can enter any user/pw and will start mining. So who do I mine for if I just chose random letters for username?!

I just started at http://doge.cryptominer.net/index.php and it seems to work. However My Worker Page still says the worker is inactive. Does it mean I made a mistake with username / PW (unlikely) or do I just have to wait until the site updates?

After you create a worker with a password, your login on your guiminer is Login.Worker (For instance, mine is Sacrieur.Doge1), then the password is the password for the worker (not the password to login to the website). Under your settings there's a payment address box that you put your wallet address in, it will automatically deposit the coins into your wallet.

So how it works is that the entire pool works to solve the block, and when they do, the coins are split up based on shares (determined by how much work your computer did). So you won't get paid until the block is solved.



None.

Dec 18 2013, 8:07 am payne Post #20

:payne:

Four questions:
- How does the actual mining work? I have to run a program actively to be mining? (Which would then mean leaving the computer open 24/7 is an advantage?) Would it use bandwidth, and at what rate if so?
- Why is there a charge for transfers? What is it used for/Who receives it?
- How different are the other alternative cryptocurrency? What are their advantages/disadvantages? Why did people feel a need to create other ones?
Quote from Apos
Correction in the OP: there will only be 21 million Bitcoins produced, though that 21M will never be reached as the production is halved every 4 years. It is estimated to reach that amount by the year 2140.
- What happens once all the bitcoins have been generated?



None.

Options
Pages: 1 2 37 >
  Back to forum
Please log in to reply to this topic or to report it.
Members in this topic: None.
[12:33 pm]
Suicidal Insanity -- feasible is a great wor for stuff like that xD
[06:30 am]
Ultraviolet -- :lol:
[03:35 am]
jjf28 -- easy not necessarily the word I'd use, but should be doable
[05:43 pm]
Zoan -- NudeRaider
NudeRaider shouted: Zoan yes you can.
oh, yeah you’re right. Then yeah if you use an ai script it should be easy to farm unfinished buildings in some unused area on the map and just move them around, right?
[2019-10-17. : 6:06 am]
NudeRaider -- KrayZee
KrayZee shouted: Voyager7456 Somehow I misread your shout. "Glad I can entertain you in Nude" as if you sent a racy photo, video or something.
nah, he just made a comment that had us laughing very hard.
[2019-10-17. : 6:02 am]
NudeRaider -- Zoan
Zoan shouted: sraw531 you can’t move buildings afaik
yes you can.
[2019-10-16. : 10:03 pm]
Dem0n -- no
[2019-10-16. : 8:26 pm]
GGmano -- Is here a forum only for temple siege?
[2019-10-16. : 4:20 pm]
KrayZee -- Voyager7456
Voyager7456 shouted: Glad I can entertain you Nude
Somehow I misread your shout. "Glad I can entertain you in Nude" as if you sent a racy photo, video or something.
[2019-10-16. : 2:26 pm]
martosss -- Moose
Moose shouted: martosss IIRC, the plan was to go 64-bit only eventually so they're interested in differences between the versions
well I might have found 1 bug for them to fix - some maps load on 32 bit, but not on 64 bit game version
Please log in to shout.


Members Online: Roy, C(a)HeK, GGmano, ymoxez, MTiger156