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Bitcoin Q & A - Ask Me Anything

Travis
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I have a sticky thread about the introduction to bitcoins here.

To keep things clean I am opening a different thread for you guys to ask questions. Whether it be about mining, the currency, anything.

Hopefully others who are knowledgeable in bitcoins can answer any questions I do not know as well.

 

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how much is one bitcoin worth in USD?

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how much is one bitcoin worth in USD?

Currently it's $137 USD.

Keep in mind this is ever changing. It also changes based on where you get them. Remember, the price is not defined. The price is made based on what people are willing to give for them.

 

If you are curious on their prices, you can go to https://mtgox.com/ and view the "Last Price" amount at the top. Mt.Gox handles the most bitcoins compared to any other site so their prices are the most "accurate".

You may find them cheaper other places though.Or more expensive.

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okay, that makes sense

i read your introduction post, it was very helpful :)

so if you mine one block, you get 25 bitcoins....that's $3425...

wow. course it would take a while for my a6 apu to mine a whole block. can you transfer bitcoins to money using software, or does someone have to buy them?

AMD FX 8350 8-Core CPU (Stock 4GHz) | Gigabyte GA-990FXA-UD3 | (Rev. 4.0) | 8GB 1600MHz HyperX Fury | AMD R9 270 (MSI Gaming OC Edition) | NZXT H440 (White) | Kingston 120GB SSDnow V300 | Seagate Barracuda 1TB (7200 RPM) | Corsair RM750m 750w Fully Modular Power Supply

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okay, that makes sense

i read your introduction post, it was very helpful :)

so if you mine one block, you get 25 bitcoins....that's $3425...

wow. course it would take a while for my a6 apu to mine a whole block. can you transfer bitcoins to money using software, or does someone have to buy them?

Yeah but solo mining is pretty much out of the question at this point. It would take years at the current difficulty.

 

To exchange them for other currencies someone needs to buy them from you. I use https://btc-e.com/

It's helpful because I can watch the price change. You can also convert between other cryptocurrencies like Litecoins.

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okay cool.

thanks for the info

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What is a good bitcoin mining software? How many bitcoins do you mine?

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What is a good bitcoin mining software? How many bitcoins do you mine?

 

I've only used GUIMiner and it works well for me.

What do you mean how many? If you mean me personally, I don't mine bitcoins anymore. I mine Litecoins, which are similar.

What do you prefer? Mining bitcoins or folding?

Mining for sure.

I love folding and support it 100%. I prefer the option to get something back from my processing (money).

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I'm sadly running a mac right now know any good mining apps. i have the one on the site.... but it wont let me mine. :/ then i have the uses OSx's Terminal (command Prompt) app but that dont seem to be helpful. Any help would be nice!

~FRED

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I'm sadly running a mac right now know any good mining apps. i have the one on the site.... but it wont let me mine. :/ then i have the uses OSx's Terminal (command Prompt) app but that dont seem to be helpful. Any help would be nice!

Interesting question. I have not heard of any that you can use on a Mac but that doesn't mean you can't.

I have no direct experience or knowledge but I would assume if you run a Windows Virtual Machine on your Mac, you should be able to do it no problem with the "common" miners. It would just be very resource heavy to run a VM and the mining software. There is no way you would be able to operate it while mining.

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were can you sell your bitcoins?

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were can you sell your bitcoins?

Anywhere people want them. You can use Mt.Gox, Coinbase, BTC-e. I'm sure there are many but those are the only ones I've tried.

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does bitcoin software run in the background like folding, or does it take all your computer's resources?

AMD FX 8350 8-Core CPU (Stock 4GHz) | Gigabyte GA-990FXA-UD3 | (Rev. 4.0) | 8GB 1600MHz HyperX Fury | AMD R9 270 (MSI Gaming OC Edition) | NZXT H440 (White) | Kingston 120GB SSDnow V300 | Seagate Barracuda 1TB (7200 RPM) | Corsair RM750m 750w Fully Modular Power Supply

Dell 23.6-Inch 1080p 60hz IPS Display | Corsair H100i AIO Liquid Cooler | Logitech G710+ Mechanical Gaming Keyboard | Logitech G502 Proteus Core | iSymphony Wireless Stereo Speakers | Windows 8.1 (64-bit)

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does bitcoin software run in the background like folding, or does it take all your computer's resources?

It really depends. You can generally run it while doing basic things but I would imagine artifacting would be pretty heavy if you started gaming.

Many times you can lower the work load though so it's less stressful to mine.

I have 2 different video cards so I can run it with no stress while gaming.

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I have 2 different video cards so I can run it with no stress while gaming.

 

Hi all!!

i'm wondering, what needs to be done so i can mine from 2 defferent gpu in 1 rig?

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Hi all!!

i'm wondering, what needs to be done so i can mine from 2 defferent gpu in 1 rig?

For example with GUIMiner, you can pick which card to mine from. If you want to mine from both, you can open two instances.

KFbBarm.png

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Just that?

 

Ohh :o O.k

 

T.y

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Interesting question. I have not heard of any that you can use on a Mac but that doesn't mean you can't.

I have no direct experience or knowledge but I would assume if you run a Windows Virtual Machine on your Mac, you should be able to do it no problem with the "common" miners. It would just be very resource heavy to run a VM and the mining software. There is no way you would be able to operate it while mining.

Ok, i have a NetBook for this with an intel graphics card. I dont think i could run it very well sadly :/ but i also have a XP desktop i could try and use with it, but i dont know the graphics on it. 

 

 

 

Just that?

 

Ohh :o O.k

 

T.y

you have to sign up with them before you log in. to get your usernames, get payed Ect. 

~FRED

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OK, I downloaded GUI Miner and got an account at Slushes pool, just to try mining out and see what i can do

 

Now officially making 33.8 Mhash/s! :)

AMD FX 8350 8-Core CPU (Stock 4GHz) | Gigabyte GA-990FXA-UD3 | (Rev. 4.0) | 8GB 1600MHz HyperX Fury | AMD R9 270 (MSI Gaming OC Edition) | NZXT H440 (White) | Kingston 120GB SSDnow V300 | Seagate Barracuda 1TB (7200 RPM) | Corsair RM750m 750w Fully Modular Power Supply

Dell 23.6-Inch 1080p 60hz IPS Display | Corsair H100i AIO Liquid Cooler | Logitech G710+ Mechanical Gaming Keyboard | Logitech G502 Proteus Core | iSymphony Wireless Stereo Speakers | Windows 8.1 (64-bit)

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Good luck, you should be making about .0015btc a day

and 1 bitcoin every 2 years! ^_^

AMD FX 8350 8-Core CPU (Stock 4GHz) | Gigabyte GA-990FXA-UD3 | (Rev. 4.0) | 8GB 1600MHz HyperX Fury | AMD R9 270 (MSI Gaming OC Edition) | NZXT H440 (White) | Kingston 120GB SSDnow V300 | Seagate Barracuda 1TB (7200 RPM) | Corsair RM750m 750w Fully Modular Power Supply

Dell 23.6-Inch 1080p 60hz IPS Display | Corsair H100i AIO Liquid Cooler | Logitech G710+ Mechanical Gaming Keyboard | Logitech G502 Proteus Core | iSymphony Wireless Stereo Speakers | Windows 8.1 (64-bit)

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When I try to mine it doesn't work. It says connecting or starting and never actually starts. Do I have to do any port forwarding?

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try retyping your username and password, also do it by hand, i tried copy and pasting my username and password and it did the exact same thing

 

also check the console view, that might tell you what's going on.

AMD FX 8350 8-Core CPU (Stock 4GHz) | Gigabyte GA-990FXA-UD3 | (Rev. 4.0) | 8GB 1600MHz HyperX Fury | AMD R9 270 (MSI Gaming OC Edition) | NZXT H440 (White) | Kingston 120GB SSDnow V300 | Seagate Barracuda 1TB (7200 RPM) | Corsair RM750m 750w Fully Modular Power Supply

Dell 23.6-Inch 1080p 60hz IPS Display | Corsair H100i AIO Liquid Cooler | Logitech G710+ Mechanical Gaming Keyboard | Logitech G502 Proteus Core | iSymphony Wireless Stereo Speakers | Windows 8.1 (64-bit)

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When I try to mine it doesn't work. It says connecting or starting and never actually starts. Do I have to do any port forwarding?

No port forwarding required. Make sure you are using a password for the worker and NOT your login info for the site.

 

Feel free to screenshot what you enter and everything so I can have an idea of what is wrong. Don't worry about privacy. If someone has your worker account name and password, all they can do with it is start mining for you lol.

If you still don't want to, what miner and pool are you using?

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Question: WIth the heavy load it puts on your GPU, Is mining 24/7 going to degrade or increase/speed up the chance of the death of your GPU? 

 

Question 2: Is adding an extra card to your system that is not the same model doable? for example I want to mine as well as game so I would let my 6850 mine while I game on my 7950. I hear about a dummy VGA plug going around. What is that and does it relate to this situation?

Across the vast and majestic gulf of time and space, the jimmies rustle softly.

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