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/m28/ - Mining to Infinity

Mining Bitcoins for the survival of 8chan

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File: 1430864187020.png (162.22 KB, 344x296, 43:37, 1311913077159.png)

 No.2[Reply]

If you've come here you probably know that most ways of donating to 8chan has now been cut off and Hotweels is running out of money, >>>/operate/8575.

The purpose of this boards is for those of us who want to keep this place afloat to help each other learn how to use Bitcoins by setting up and managing accounts.

The spirit should be one of mutual assistance. People who would otherwise not be interested in Bitcoins contribute by investing their time to learn so that they can make donations. People who already know contribute by investing their time to help those who don't.

Post last edited at

 No.20

Based on what I've seen people around 8chan claim about Bitcoins in comparison to what I've been able to read up on I've decided to make this a rule:

Posting disinformation will get you banned.

Don't be afraid to post just because of this! This is merely to stifle myths. As long as you do not make absolute statements, like “this or that is impossible”, without giving a good source you are in the clear.

You are free to write your opinion and speculate as much as you want as long as you don't present it as the only factual truth.



File: 1453312408342.png (150.68 KB, 1670x881, 1670:881, freebitcoin.png)

 No.41[Reply]

http://freebitco.in/?r=1909385

I figured I'd recommend this site to you guys since it's a pretty great faucet imo, you can win up to $200 in bitcoin every hour just by clicking a button (and a short easy captcha but who cares about those), a weekly lottery that you get 2 tickets for free every time you roll (2 tickets every hour for a week is pretty significant) and an easy high/low game that has helped me win thousands of satoshi in a short amount of time.

I can even hook you guys up with an automation script for the hi/lo game as well, just hit F12 (or however you open the elements function in your browser) and just let this run http://pastebin.com/5vxmKiF3

Hopefully this is appreciated, pretty worth it imo.


File: 1430926257002.jpg (89.53 KB, 654x403, 654:403, ASIC.jpg)

 No.21[Reply]

I've looked into the feasibility of acquiring Bitcoins by mining.

The profitability was estimated using these two calculators:

http://www.alcula.com/calculators/finance/bitcoin-mining/

http://coinbrief.net/c/btc/mining/

Performance data for bit mining devices have been taken from:

https://en.bitcoin.it/wiki/Mining_Hardware_Comparison

https://en.bitcoin.it/wiki/Non-specialized_hardware_comparison

This article also proved very useful in explaining the current situation of Bitcoins in plain English:

http://coinbrief.net/bitcoin-mining-worth-it/

This information is valid for Bitcoins only. It does not apply to other crypto currencies.

The short answer is that Bitcoin mining is doable, slightly profitable but impossible without dedicated hardware. Mining with computer hardware just isn't doable any more since special hardware was designed. We'd be mining to infinity in a double sense.

Realistic numbers for a great GPU are 400 million hashes per second whereas the most cost effective dedicated hardware calculates over 1155 billion hashes per second. For computer hardware we'd at best be looking at an electricity cost of $600 to get $1 worth of Bitcoins, and it's abysmally slow. Everyone on 8chan together couldn't mine enough to cover a tenth of Hotweels' cost.

Dedicated hardware is refereed to as ASIC, Application-Specific IntegratePost too long. Click here to view the full text.

 No.37

File: 1432151110673.jpg (50.96 KB, 680x700, 34:35, eliza dushku 1329924128061.jpg)

>>21

>Are there things that should be added to this?

the heating bill that goes down thanks to the miner rig's heat producer factor.

a dumbass like me pays about 800€ a year to heat up only one room of his 3 rooms flat with electric heaters, because its insulation is poor.

ideally i could save all that.

it's an uncommon case but it exists, making the heating saving calculation relevant.


 No.40

>>37

>ideally i could save all that

You'd actually earn money doing that.



File: 1430928252858.jpg (46.94 KB, 770x447, 770:447, bitcoins.jpg)

 No.23[Reply]

Based on the argument put forth in >>22 I believe the first order of business should be to simply start by teaching people how to use Bitcoins. Since Hotweels is effectively cut off from most other ways of donating it would help enormously if we could make using Bitcoins common knowledge among the users of 8chan.

What people effectively need to learn is how to create Bitcoin wallets, how to buy Bitcoins to put in them, and how to make transactions to 8chan. This is how I propose we accomplish step 1 in mentioned thread:

In order to tell people where to go we need to establish which services we should recommend to them. What I believe we need to research first is:

>What types of Bitcoin wallets are there?

>Are they all reliable? If not, which are trustworthy?

>How do they compare with regard to ease of use?

>How do they compare with regard to anonymity?

When this is done and we have some suitable candidates we should attempt to find or create guides which answer:

>How do you create wallets for these services?

>How to you manage them?

>How do do you make transactions?

>What kinds of things should you never do if unless you want to get scammed?

Parallel to this we finally need to determine practical ways for people to convert conventional currency into Bitcoins. I think they main criteria we should evaluate them by are:

>Cost of conversion

>Simplicity

>Anonymity

The goal of all this is that instead of new users being faced with a hundred different options we narrow it down to just a handful which we can recommend with clear conscience.

Post too long. Click here to view the full text.

 No.27

File: 1430962472483.png (902.84 KB, 1100x1367, 1100:1367, ervPwc6.png)

I think you're overthinking it. The first step should focus just on America, and Coinbase. Get American users to sign up for Coinbase, and teach them how to send money to a Bitcoin wallet.

It is "anonymous" in the sense that nobody watching transactions knows where they came from. That is enough anonymity for the purposes of donating, equivalent to Paypal or anything else.

This is the simplest possible thing that will work, and therefore has the least friction to getting people to donate.

Equivalent guides could be made for other countries, I don't know anything about them.


 No.36

>>27

>The first step should focus just on America, and Coinbase. Get American users to sign up for Coinbase,

The problem with just recommending them something is there is no control of whether or not this is something that should be recommended to anyone. A quick look at Coinbase reveals exactly the problem with this approach:

http://truthvoice.com/2015/05/coinbase-accused-of-tracking-bitcoin-users-notifying-cops-of-transactions/

http://www.newsbtc.com/2015/02/18/coinbase-seems-forgotten-btc-anonymous-coinbase-trying-mutate-btc-another-paypal/

>Everyone using Coinbase to store bitcoins isn’t “being his own bank” for the simple reason that he doesn’t own the private keys to the addresses his coins are stored in.

>A recent post in /r/bitcoin by user /u/coinuser1111 brings up this issue. More and more bitcoin users are starting to think that Coinbase isn’t treating its wallet user as a neutral service provider but rather as a guarding authority. In the mail exchange that coinuser1111 had with Coinbase’s team, he was asked to provide Coinbase with information about his outgoing transactions using Coinbase as well as the source of his deposited bitcoins.

Looking through what else searches on Coinbase bring up I'm getting real strong Paypal vibes with people complaining about it being invasive in regards to personal information and closing people's accounts for dodgy reasons. Regardless of whether or not it's true it illustrates perfectly well why I don't want to just tell people to start using a random service.

If we were to just tell them to use Coinbase these sort of issues would inevitably surface and at that point people would (justifiably) start to distrPost too long. Click here to view the full text.



File: 1430871135085.jpg (14.32 KB, 386x408, 193:204, 1430604229271-1.jpg)

 No.3[Reply]

Alright, posting because we need this.

We still need a bitcoins for dummies/retards/morons tl;dr and it should probably include mining too.

5 posts and 1 image reply omitted. Click reply to view.

 No.29

Here's a suggestion I made in another thread. If just one of your friends has a Coinbase account, or a way to get Bitcoins, they can transfer some of it to you in exchange for money or whatever. So literally everybody who wants to donate doesn't necessarily have to go through the trouble to get a Coinbase account, if they have a friend who has one.

ALSO, there are Bitcoin ATMs in a lot of places. Go get it in person, not even another human.


 No.30

File: 1431004065992.jpeg (34.03 KB, 400x400, 1:1, onedoesnotsimplybuywithpp.jpeg)

>>14

>What do I do about the security camera in the 7-Eleven?

buying bitcoin isn't illegal, millions of people do it all the time. if you are worried about the fullchan connection send your coins through bitcoin fog or find some other way to launder them. the bitcoin wiki has an article or section about anonymity.

>bitcoin wallet

electrum is good, i think all the thin clients use the same protocol so the only thing that matters is how much you like the wallet.

but you should run a full bitcoin-qt node to help the network and because the servers of thin clients can correlate all your addresses (which is already a problem with bitcoin).

>>29

asking friends to buy bitcoins is a good idea. i'm sure everyone on fullchan knows someone.

buying bitcoins is quite different depending on where you live and how you want to do it.

we should find the best way(s) for each country and post that on the site or some wiki.

e.g. russians (and theoretically others too) can trade WebMoney for bitcoin, britfags can buy them in shops because their country is a shithole (http://www.coindesk.com/can-now-pay-cash-bitcoin-28000-uk-stores/), in usa, italy, germany, netherlands and others you can use ATMs in many locations…

imho the best way to buy bitcoin is on sites where you send SEPA transactions to the vendor, not to the bitcoin exchange.

ask mtgox users why.

bitcoin.de is the go-to place for p2p SEPA trade in europe, but for some strange reason people seem to prefer mtgox-like exchanges.

here is a list of exchanges, "holds fiat? yes" means you send your money to the exchange and hope they don't rip you off (mtgox), "no" means you send money dirPost too long. Click here to view the full text.


 No.31

>>30

>pic

You can actually buy bitcoins with paypal on VirWoX (https://www.virwox.com/), but the fees will be high. You first have to exchange fiat for SLL, then SLL for bitcoin. There's also a 24 hour delay on the first withdrawal.


 No.33

>>14

Why shouldn't I use my credit card? Legit question, I'm very new to all this.


 No.34

>>33

There are few legit places where you can buy Bitcoin using a credit card or using Paypal, because in both cases the customer can do a chargeback while the Bitcoin transaction sent to them is irreversible.

This means that most sites that offer using a credit card or Paypal are actually scams. If you use a prepaid card, you mitigate the risk.

There are a few exceptions. Coinbase, which is kind of shitty insofar that they monitor where transactions are sent from their wallets and are known to close accounts if they don't like what people do with their money, one option, but US only. Circle is another legit option. You can use VirWoX for buying with Paypal, but the there are some drawbacks.

The main thing to keep in mind is:

1) Always research a site before you use it.

2) If you Google a site, avoid clicking on ads, because those sometimes have phishing fakes. Make sure you use the real search result.

3) Your credit card can be tied to your identity and bitcoin transactions are traceable, unless you take extra steps to avoid this. If you are donating to a good cause, this is probably no issue. Buying Bitcoins is legal and donating to 8ch is legal too. Beyond that, do your own due diligence…



File: 1430927345165.png (930.34 KB, 1074x1049, 1074:1049, cc.png)

 No.22[Reply]

To the real question for this board, where should we start?

Looking into the current situation in >>21 has told me that mining is not where to start. Given the cost of investing in hardware I don't see it as happening soon. First though, a quick summary of some of the more significant things I've picked up so far.

Bitcoins use SHA-256 hashing for which computer hardware is now useless. Many other currencies use "scrypt" which needs much more memory and this makes it more expensive to build ASICs for them. This means GPU mining is still viable for many of them, but I can't yet say what GPUs (or how many) are needed to have a chance. There seems to be hardware on the way for scrypt, but I've read that there are also currencies running derivatives of scrypt designed to practically prevent the use of ASICs with the goal of making it easier for newcomers to start mining on their computers.

These are things I need to look more into but here is a good short overview of scrypt: http://www.coindesk.com/scrypt-miners-cryptocurrency-arms-race/

As for mining in pools there are not just those that mine a signle currency. There are some that switch to whatever currency is most profitable at the moment and I've seen it claimed that this significantly increases profitability above what the strict Bitcoin calculators predict (but take this with a pinch of salt). There are also pools that try to predict when new currencies are about to hit big and focus mining on that with the hope mining cheap coins that will then grow in value.

Again these are things I need to look into but here is another good short overview pools: https://www.cryptocoinsnews.com/bitcoin-mining-guide-choosing-profitable-mining-pool/

Post too long. Click here to view the full text.

 No.32

> Many other currencies use "scrypt" which needs much more memory and this makes it more expensive to build ASICs for them. This means GPU mining is still viable for many of them, but I can't yet say what GPUs (or how many) are needed to have a chance.

CryptoNote based coins such as Monero might also be worthwhile. There are no ASICs and even the gap between CPUs and GPUs is comparatively small.



File: 1430876379080.gif (898.86 KB, 400x300, 4:3, 1372260255877.gif)

 No.8[Reply]

Make a thread on >>>/boards/ and post an ad in >>>/boards/2321 and >>>/boards/2624

Link and point out links to this board in all of the threads currently discussing how to fund Hotwheels!

Some threads that are alive as of this post:

>>>/v/3587882

>>>/pol/1951874

>>>/gamergatehq/123006

>>>/tech/214762

>>>/b/2577219

Spread word of the board!

Also, custom CSS, and turn on all the nice settings like Oekaki, code tags, multi-image upload, swf and pdf uploads and dice? (and youtube embedding(?)) Probably have a 300 newline limit,

 No.26

>>8

>Make a thread on

Done.

If anyone sees more discussions pop up elsewhere be sure to mention this board, or post a link in this thread so we'll know.

Also I did a quick tweak of the board settings. I'll look over it more later.



File: 1430952683803.png (269.96 KB, 1920x1080, 16:9, minecraft_shaded_coal_ore_….png)

 No.24[Reply]

This is a nice board, I will spread the message. Thank you /tech/nician for setting up this board.

I was a BTC noob 2 days ago, but thanks to some reading and instructions here I now own a BTC wallet and donated 30€ to HW.

 No.25

Great! I hope you can leave some feedback in >>22 and >>23 about how to move forward with this.



File: 1430876576175.jpg (143.35 KB, 800x582, 400:291, how-to-mine-bitcoins[1].jpg)

 No.9[Reply]

Post banners here!

(we probably won't be mining for bitcoins, but some may!)

 No.10

Should we also have user-flags?

Banner dimensions: 300 pixels wide, 100 pixels high, must be < 500KB

User flags: 11-20 pixels wide, 11-16 pixels high must be < 48KB


 No.17

File: 1430880644767.gif (35.54 KB, 300x100, 3:1, m28.gif)

let's see how well this displays…

if it's too poor, I may work on it more some time in the future, making .gifs in GIMP makes me want to kill myself


 No.18

>>17

hmm, the resizing makes it look chopping on the edges

time to kill myself


 No.19

>>17

>>18

.xcf file for the project here: http://a.pomf.se/vvbwgc.xcf



File: 1430872399233.png (168.02 KB, 700x700, 1:1, 1386616966637.png)

 No.4[Reply]

How do we gather to make a bitcoin mining pool? How can we trust that the bitcoins go to hotwheels?

 No.5

>>4

>How can we trust that the bitcoins go to hotwheels?

Welcome!

There's no need to pool resources. Each user just transfer what they want to donate directly to the account Hotweels has specified.


 No.11

File: 1430876980134.png (1.68 MB, 5000x5000, 1:1, 1386548379609.png)

>>5

but not all of us are employed m8. I hear that bitcoin mining is hard and its easier done in pools.


 No.12

>>11

Honestly no one is going to get anywhere mining. Pooling CPU and GPU resources still won't earn you more than a few bucks at best and it's not worth it unless your electricity is free.

http://www.alcula.com/calculators/finance/bitcoin-mining/

The "m" of this sub is misleading unless you're invested in some serious mining equipment. Should be /b28/.


 No.15

File: 1430879269392.png (1.31 MB, 5000x5000, 1:1, 1386548457827.png)

>>12

what about mining other currencies, could we go anywhere with that? Maybe coin conversions?



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