[X] My Assistant

Have you made any further progress?

I'm about half way to 0.1 bitcoin. long and painful road but worth it

Not yet though I was overwhelmed with works today

I'll continue tomorrow >,<

I plan to use my server's idle resources.. Hope it works well.

Not yet though I was overwhelmed with works today

I'll continue tomorrow >,<

I plan to use my server's idle resources.. Hope it works well.

I know this goes without saying, but if you are willing to consider i can remote your PC Via Team Viewer and help you setup your client. I can understand these things being new to people and can be complicated.

Let me know what you want to do

already finished. love this game

CoinBase is also a very good option for buying Bitcoins from what I've researched: [coinbase.com] https://coinbase.com/

I'm wary of MtGox.

This post has been edited by aeridus: Feb 26 2013, 13:16

$100 Donation made!
Check if you get it!

$100 Donation made!
Check if you get it!

You were supposed to send a PM, but yup. Credited.

Sorry, It was less than PM. Thank you.

Still waiting for my mtgox account to get verified so that I can add funds from dwolla. US funding options suck without using a wire transfer.

I suppose that's one way to do donations that PayPal can't fuck with. Time to tell my 6950 that I have a job for it. . . Heating my apartment (it's bloody cold up here!)

I suppose that's one way to do donations that PayPal can't fuck with. Time to tell my 6950 that I have a job for it. . . Heating my apartment (it's bloody cold up here!)

Lol it got cold here too! I just finished re-doing the thermal plating on my second 6950 and am now going at 600 Mhash/s (two going!)

I am so confused on how this whole bitcoin thing works, but I'll figure it out I'm sure... If anyone wants to give me a newbie friendly explanation... Like how does it even know how much bitcoins I have, this program?

And what exactly is a bitcoin address. So there is a 10 usd charge for the conversion to bitcoins for a wire transfer if i read that correctly?

This post has been edited by MikukoAya: Feb 27 2013, 19:00

I'm not an expert on Bitcoin, but i think the following should be pretty close to how it actually works. Don't blame me if there are any mistakes though, this is my own take on how the system seems to work.

A bitcoin address is like a digital wallet, specifically for bitcoins. You can get one by either running a client, or creating an eWallet with MtGox (or any of the other exchanges, I think).

Since this system works like a digital wallet, your bitcoins (whichever way you get them) is like money in your account.

The two ways of getting them are through exchanges (similar to purchasing different country currency, except that this is digital currency), and through mining (the digital version of panning/mining for gold).

Using an exchange like MtGox is, as i said, similar to buying currency at a currency exchange. At the moment, I believe that the exchange rate is 1 BTC:~30USD subject to fluctuations. So in this case, you use real money to buy and sell bitcoins, which is how Tenboro can get real money. We buy those bitcoins into our wallet/account using our real money, transfer them to Tenboro's own wallet/account, after which he can sell back to an exchange or other people for actual money.

Kind of like the Diablo 3 Auction house.

Bitcoins are constantly being generated by the system/s at a rate of 50 coins per 10 mins, or something, i don't quite remember. And that's for the entire internet world (which has billions of people using). So there has to be a way for people to earn these coins, and that's through mining.

Mining basically uses your computer's CPU and/or GPUs to process transaction records within the bitcoin network. I don't quite understand how the blocks are generated, and all that, but basically, you'll download a mining software, run it, and try to hunt for these 'nuggets'.

Due to the scarcity of the coins, it can take a long time (and power, since the process uses your computer's CPU or GPU to run the miner) for you to find a single block if you do 'solo mining', so some people have set up 'pool mining', whereby a group of people join a network to 'hunt' for these coins, increasing the chances of finding them. After a block is successfully mined, the value of the coins are then distributed among the people who contributed to the process.

Think of it like a man panning for gold in a river as a 'solo miner', and a company employing people to mine a region for the gold as a 'pool'. If you're going solo, and you find a block, it's all yours. if you're in a pool, you'll get tiny bits and pieces of BTC (it's actually possible to break a coin into 0.0001 BTC or smaller) depending on how much you contribute to the pool, kinda like getting a paycheck instead of striking gold yourself.

Not sure how much is correct, but it should give you a general idea of how it seems to work.

Have you made any further progress?

I'm about half way to 0.1 bitcoin. long and painful road but worth it
I suggest you start your GUIMiner with whatever group you wish to join simply for the fact that it takes time to make coins. so get a head start while the wallet syncs with the collective. (side note for the bitcoin Wallet to build it will require a vast amount of CPU but fear not for it only has to bear with it till the sync is done)

I'm still synchronizing with network..

After 5 days non-stop running the Bitcoin wallet

-5967 blocks remaining

I wonder how long others ?

I guess I'll try the CPU miner first.. since my idle servers don't have any GPU attached

If ok I'll use the GPU for desktop

I'm still synchronizing with network..

After 5 days non-stop running the Bitcoin wallet

-5967 blocks remaining

I wonder how long others ?

I guess I'll try the CPU miner first.. since my idle servers don't have any GPU attached

If ok I'll use the GPU for desktop

In the past Bitcoin mining started by using the CPU's but later found out that a graphics card can process more crypt logic at a much higher scale.

Example:
My Intel Core i7-2600k 4.2Ghz processor: 40 Mhash/s
My Asus AMD HD 6950 (Overclocked): 300 Mhash/s


And the damn processor cost more than the graphics card... lol


It would be better if you can run the program with a ATI graphics card since they do a whole lot better at the job.

And as for what you want to do it's up to you. I personally run the program when either I'm watching movies or when I'm out or even when I'm sleeping.


Edit: And for how long it took for me to get the Bitcoin wallet synced up it took me 2 1/2 days.

This post has been edited by Innis1071: Feb 27 2013, 22:14

but i think the following should be pretty close to how it actually works.

That's basically correct. The generation of transaction block chains ("mining") is based on a variant of [en.wikipedia.org] Hashcash, which basically means that you have to find a value that gives a certain result from running it + the transaction records + a seed from the previous block through a SHA-256 cryptographic function - namely one that when the hash is treated as a big-endian integer is below a given value, depending on a difficulty. The difficulty is variable, and is updated every 2016 blocks, depending on how long the last 2016 blocks took to generate.

A total of 21 million BTC will be generated, but this process will take about 100 years. You can also split them down all the way down to 0.00000001, so while no one can wantonly flood the market with bitcoins, there's also no danger of "running out".

I'm still synchronizing with network..

After 5 days non-stop running the Bitcoin wallet

-5967 blocks remaining

You do have to download and cryptographically validate the entire transaction history of the Bitcoin network. :3

It's limited by a) your network and b) your CPU speed. I have it running on a couple of computers; my beastly i7 did it overnight and an Atom took about a day and a half. A VPS might need longer than that.

Like how does it even know how much bitcoins I have, this program?

So there is a 10 usd charge for the conversion to bitcoins for a wire transfer if i read that correctly?

Just sorta noticed this points (i was distracted while typing my almost-wall-of-text).

As i mentioned earlier, the wallet acts similarly to a personal bank account, so how much you have, as well as each of your transections are basically recorded. However, there's one rather important aspect one should take note of.

Quote from the bitcoin wiki:
Bitcoin transactions send Bitcoins to a specific public key. A Bitcoin address is an encoded hash of a public key. In order to use received Bitcoins, you need to have the private key matching the public key you received with. This is sort of like a super long password associated with an account (the account is the public key). Your Bitcoin wallet contains all of the private keys necessary for spending your received transactions. If you delete your wallet without a backup, then you no longer have the authorization information necessary to claim your coins, and the coins associated with those keys are lost forever.

I believe this is primarily for client based wallets, but i can't be sure. Better check up on whichever wallet type you're using (i.e: [en.bitcoin.it] client based or [en.bitcoin.it] EWallet)

Regarding the charges for wire transfer, i believe it has more to do with the bank doing the transfer and charging it as a service, rather than as USD to BTC currency conversion.

For example, i was charged $25 SGD by my bank to transfer money from my local account to MtGox. Once the transfer has gone through, the money was credited to my MtGox account, which i used to buy Bitcoins at market rate, after which i then credited/transfered to Tenboro via his link.

I was charged a few dollars by MtGox during the wire transfer process, but there were no additional charges when purchasing the bitcoins.

Well, I'm going to try to mine for 1 Bitcoin first then to make up for the fee. Only using two computers right now though since I don't think it would make sense to run my third as it doesn't have a good GPU and the power usage would be a waste.

Considering I'd lose like 33% of the donation from fees, I'd want to have 1 Bitcoin to make up for it.

This post has been edited by MikukoAya: Feb 28 2013, 04:04

I suppose that's one way to do donations that PayPal can't fuck with.

Considering the incorruptibility of the U.S. congress and how much money PayPal, Visa, MasterCard and the other credit card companies have combined to hire lobbyists, I wonder how long it will be until we get a massive P.R. campaign telling us that BitCoin is the funding source of choice for (&c), and so we want to ban it, and whether the public will be taken in.

Time to tell my 6950 that I have a job for it. . . Heating my apartment (it's bloody cold up here!)

Towards the end of the 60s we did obtain something called a PDP12, and David Freeman, our electronics engineer, joined the lab and was soon spending more and more time programming. But even then we were slow to use the computer except on cold days to supplement a bad heating system.

- Hubel and Wiesel, who shared the 1981 Nobel Prize in Physiology or Medicine

Considering how many people still use electric space heaters, water heaters, ovens and clothes dryers due to lack of a convenient natural gas feed or exhaust route, I'm envisioning cyberpunk versions that use multiple kW worth of obsolete graphics cards as the heating elements.

Considering the incorruptibility of the U.S. congress and how much money PayPal, Visa, MasterCard and the other credit card companies have combined to hire lobbyists, I wonder how long it will be until we get a massive P.R. campaign telling us that BitCoin is the funding source of choice for (&c), and so we want to ban it, and whether the public will be taken in.
- Hubel and Wiesel, who shared the 1981 Nobel Prize in Physiology or Medicine

Considering how many people still use electric space heaters, water heaters, ovens and clothes dryers due to lack of a convenient natural gas feed or exhaust route, I'm envisioning cyberpunk versions that use multiple kW worth of obsolete graphics cards as the heating elements.

I don't even use space heaters anymore. I need to heat up my room? Fire up a computer.

I need to dry my clothes? Lay my clothes on top of a tower and turn it on and wait.

I need to boil water? Liquid cooling time.

I have not had the audacity to try frying eggs on a graphics card yet though.

Considering I'd lose like 33% of the donation from fees, I'd want to have 1 Bitcoin to make up for it.

You lose approximately 0% from straight Bitcoin donations.

Considering the incorruptibility of the U.S. congress and how much money PayPal, Visa, MasterCard and the other credit card companies have combined to hire lobbyists, I wonder how long it will be until we get a massive P.R. campaign telling us that BitCoin is the funding source of choice for (&c), and so we want to ban it, and whether the public will be taken in.

Forbes had an [www.forbes.com] op-ed on that. Considering how many other "alternate" currencies there are, a ban that singles out Bitcoins would be a quite exceptional validation of the whole system.