The Glade 4.0

Okay I created a new receiving address labled lex - test 1...

How do I get more than one address to point to my wallet?

On the BTC guild site it only has one blank to paste an address to and to update it, if I put the new address in there, wont it just overwrite my original address?

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Ron Paul 2012

Leave the address on the BTC guild site.

Every address you make is pointed to your wallet, which is based on your wallet file that was auto-created. The wallet file is located somewhere in your application data or documents and settings or something. You can back it up actually. You don't need the client/wallet open to receive bitcoins because the transactions are stored in the network among all the peers.

So no, they don't overwrite. Nothing is lost, you just get more addresses pointed to the wallet.

Anyways, to send I would need the long number. (I've never sent before)

So how do I check my wallet to see my balance?

The wallet contains the information about how many bitcoins I have, correct? Couldn't this file just easily be hacked to show I have more bitcoins and then I can trade them for $?

What are you using to send / receive bitcoins?

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Ron Paul 2012

It can't be hacked because every transaction is stored in the network, so tons of different nodes know exactly how much you should have based on what you received and sent, with the associated hashes. Basically if you try to cheat then everyone else just invalidates your bad transactions. It's all encrypted with the SHA-2 hashes and I think a lot of the calculations by the miners are verifications for this process.

I'm using the standard Bitcoin client.

I see.



check your pms (lol)

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Ron Paul 2012

Okay..so I was getting a consistent 148 Mhash/s for the longest time, after a few hours I noticed it dropped down to around 65-70. I wasn't sure why, so I figured I'd reboot.

Now it's hanging around 2.5 Mhash/s.


Any idea what could be causing this?

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Ron Paul 2012

Not sure, I haven't seen this happen before. Maybe your graphics card is heating up too much? Or your Internet connection is very slow or sporadic?

I saw that if I used all 8 threads of my CPU for additional mining, it would slow down the GPU mining as well by 20% or so. So maybe something is occupying your processor, and it can't manage the GPU well.

edit:

Are you getting these numbers from GUIMiner or from the website? Because the website is very inaccurate about the rate, as opposed to the number shown on GUIMiner which is pretty accurate.

Wow... my brother and I made $21.18 since yesterday just leaving our computers on. Precise calculation with my calculator. This is crazy. (technically started 9 PM Thursday night, but my brother didn't activate his computer until noon yesterday and his is twice as fast as mine).

The exchange rate is at $16.9 per bitcoin now.

It got up above $18 last night.



Just woke up for today...checked my task manager and my processor was at 100%. Apparently generating coins in the Bitcoin app was causing this, and when my processor was at 100%.

I limited it to 2 processors, so it doesn't go above 50% now, and I'm getting 148 in GUIMiner again...hopefully it stays this way.



EDIT: Actually I get the same performance in GUIMiner if I limit it to 1, 2 or 3 processors in Bitcoin, so I'm going to just keep it at 1. 25% CPU usage in task manager now.


I wonder why it was working fine without having to set a processor limit before, and after the reboot it pretty much requires it--oh well, at least I know it wont ever go above 25% now.

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Ron Paul 2012

Don't generate coins from the Bitcoin app!! Total waste of CPU. You'll only get a few million hashes. You don't need to use it at all. It's not linked to the GUIMiner.

Oh...really? I'll turn it off then. I thought it was required.



EDIT: hmm sweet, im still getting 146.6 pretty consistently, with that turned off.

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Ron Paul 2012

Nope, never said that. : P

I know, but it seemed like an obvious option that needed to be turned on, lol.

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Ron Paul 2012

So I just upgraded my video card on my old Linux box. It's now generating 36m hashes/s. I got the best video card at Best Buy I could find for an older PCI-e 2.0 slot. By the way setting it up on Linux was a total pain in the ***. Now for the 3 computers it totals roughly 400 MH/second.

I have 0.2 bitcoins, **** yeah I'm gonna be rich!

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Ron Paul 2012

I'm up to 1.75. That's $31.50 just leaving two computers on. I could go to a restaurant with that!

(The Linux comp. got messed up since it's too far from my router to connect well)

edit:

I think spending so much time on the Internet is paying off, since I discover things like this before most people.

Check out this Bitcoin Mining Calculator


http://www.alloscomp.com/bitcoin/calculator.php


At my Mhash/s rate and the current value / difficulty I can make about $150 a month just letting this run. Not bad. I can't believe some of the higher end graphics card setups can get 1000 and even 2000 Mhash/s.



So far I'm up to about 0.7 BTC.

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Ron Paul 2012

I'm barely scratching 0.85 right now


I almost want to blow 800 bucks and get a great videocard but I just have this feeling the value of bitcoins will plummet, the price of the videocard will be way less a month from now and then they'll make mining bitcoins harder, and I won't get my moneys worth. I have a hard time imagining myself putting money into this; it seems like something that's only worth doing if you already have a videocard that can do it. I don't understand those people that buy rigs specifically designed to mine bitcoins.

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Ron Paul 2012

Question. I have an ATI card with 2 gpus on it. Do I have to have a worker for each gpu or does it automagically use both of them?

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Holy shitsnacks!

I think you need to make one for each GPU.

Also note that you need to have the latest drivers, in addition to the other AMD download I originally mentioned (think I forgot to mention this).

http://support.amd.com/us/gpudownload/Pages/index.aspx

Yar. my drivers updated a week or so ago.

I'm getting ~160.

I just let this compy run anyway, might as well make it do something.

How do I get the money out?

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Holy shitsnacks!

First the Bitcoins have to be sent from btcguild.com to the address in your Bitcoin wallet. The address is found when you open up bitcoin.exe, and you can create new ones like I described in other posts.

You need to set up an account at mtgox, and you'd place a sell order, which takes Bitcoins from your Bitcoin wallet.

https://mtgox.com/

You can transfer money in/out of it to an account at dwolla, which you can link to your bank account:

https://www.dwolla.com/default.aspx

I haven't been through the whole process yet so I'm no expert on this. Those are the general steps.

the value is shooting up like crazy.


i might invest...

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Ron Paul 2012

I invested a lot yesterday. The value shot up about 20% within hours.

I tried to deposit money on Thursday, and it just finally cleared last night. It was $14 on Thursday, now it's around $27.

I put in enough that I could make decent money from it, but not so much that I'll be overly pissed off if it's a giant bubble and I end up losing. I don't want to say the exact amount for tax reasons.

edit:
Holy @%@#%!@# ****. It's at $30/ BTC right now. I bought late last night at $22.9382. This is crazy.

it is pretty crazy...could be a risky investment though

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Ron Paul 2012