PC Perspective

Bitcoin Mining

With bitcoin, all transactions are publicly recorded, however, the public details only lead to a public key/wallet, not an actual person. People can generate spil many wallets/addresses spil needed. This is ter tegenstelling to the traditional system where anonymity is achieved by the public trusting a third party who te turn trusts its users and controls their information for them. Further, the identity of the user is not necessarily needed spil only the public/private key pair is required to accomplish the transaction. By cutting out the third party &ldquo,middle dudes&rdquo, ter the form of Paypal and credit card companies, the user is able to better control their personally identifiable information on the Internet. Te the wake of numerous Internet attacks te which financial institutions and merchant websites were hacked and their customers&rsquo, information wasgoed leaked to the public, being able to control what information (if any) businesses get is a good thing. Stolen databases and outdated security on even the most well respected companies has proven that they cannot be fully trusted to protect one&rsquo,s information, therefore, the inherent capability of bitcoin to waterput the user te control of their private information is positive.

The Bitcoin pdf outlines how coins are transferred from one user to another using public and private key encryption. The hashes build upon each other to create a chain that is stored spil public record.

The public record of transactions across the bitcoin network is known spil the block chain. Spil transactions are made within the network, the coins are signed and the network is notified of the switch. The bitcoin wallet will then display the transaction spil unconfirmed. Within a few hours, however, the bitcoin network will pick up thesis transactions and verify them. The transactions are confirmed once they have bot verified by at least six computers on the network and have bot added to the block chain. This block chain is the culmination of every transaction across the bitcoin network and is composed of blocks which are then composed of transactions. Thesis transactions are sequentially identified by the network and are incorporated into a chained proof of work system which secures the transactions from being modified. The longest block chain on the bitcoin network is the record of transactions that the bitcoin wallets trust and query to confirm a transactions’ status. This method is very secure spil an attacker would have to corset more computing power than the entire bitcoin network, and generate a fresh block chain from scrape, and then catch up to and surpass the everzwijn growing fair chain, which is an enormously unlikely script spil the computational power of the bitcoin network presently rivals that of the world’s fastest super computers. The attacker would have to do this because of the chained proof of work opzicht mentioned above. This property requires that every transaction builds upon the previous one. If even a single transaction te block chain is modified, the hashes from that point on would not match the fair chain and would then cause that chain to be discarded. This property of the block chain is the reason why it becomes more trusted the longer it becomes, and why bitcoin wallets only trust the longest chain.

The programs that perform thesis proof of work calculations to confirm transactions and incorporate all of the known transactions into a fresh block (which is further incorporated into a block chain) are known spil miners. Mining programs use brute force methods to find and verify pending transactions by enlargening a number such spil 1 until that number ter addition to the transaction gegevens will match certain special properties when hashed using SHA2. While the juist result is relatively effortless to verify, it is computationally intensive to calculate. Only a single call is required to determine that the specific nonce, or number, that the miner has paired with the transaction gegevens is juist, however, the trial and error of, for example, beginning with the so called payload gegevens and sequentially enlargening that number until the onberispelijk one is found is very computationally intensive, and takes much longer than it does to verify the onberispelijk result (which is unknown to the miner until it is discovered by trial and error). The miner is able to determine a onberispelijk result when the hash of the nonce and payload gegevens have certain specific properties, most notably a certain number of zeros. Graphics cards and specialized hardware are especially suited for the very parallel brute force mining calculations and are many times quicker and cheaper to run from a hashing power vanaf kilowatt hour cost standpoint than even the fastest consumer grade CPUs. The &ldquo,hashing power&rdquo, is reported by the mining programs spil mhash/s, and represents the raw processing power of the hardware te calculating a million hashes vanaf 2nd.

Ter addition to securing the network and verifying pending transactions by generating the longest fair block chain, mining is also the method that is used to place Bitcoin into circulation. Bitcoins, of which there will only everzwijn be 21 million, are given spil a prize to the very first miner to find a block and verify the transactions. Presently that prize is 50 BTC (bitcoin) plus any transaction fees, and will decrease overheen time until all bitcoins are te circulation. At that point, miners will be rewarded with the transaction fees included ter the transactions they are verifying. Due to the need to control the number of bitcoins that come in circulation so that they are released overheen time and not all at once (and are permitted to grow with the adoption rate of BTC and the network size), the difficulty of finding a block is adjusted every 2016 blocks to either increase or decrease difficulty according to the current hashing power of the entire bitcoin network. The network adjusts the difficulty such that thesis 2016 blocks are found within a two week time framework, which amounts to 6 blocks vanaf hour. Thesis difficulty increases have made GPUs the only viable and cost-conscious decision spil CPUs simply do not have enough hashing power to justify the electrical play cost of running them.

GRAPHIC: Diagram of pool mining made up of individual contributors

Spil competition inbetween miners began to rise spil they attempted to amass the most processing power so that they would be more likely to find a block very first, pool mining wasgoed born. Pool mining consists of many individuals contributing their computational power to a pool, which then permits them to work together to find blocks. The prize for finding that block is then distributed among everyone who contributed to the pool based on varying methods, the most common distribution methods being a proportional percentage, a vapid pay vanaf share payment, or a score based percentage. Mining ter a pool permits individuals a smaller, more sustained stream of bitcoin then mining solo which has a higher payoff (spil one gets to keep the entire 50 BTC prize instead of only a percentage of it) but is much more sporadic. Both solo miners and pools are both susceptible to &ldquo,luck&rdquo, which is a representation of the total number of blocks found during that day versus the number that they found and thus were rewarded for. Due to the much higher computational power of the pooled resources of the mining pools, they have a better chance of finding a block.

Any reason the AMD 6950 &, 6970 cards wasgoed left out of the proefneming? Spil the flagship AMD single GPU cards, I think this gegevens would be truly salient. Is there another card on the list from which wij could lightly extrapolate 6950/6970 vertoning?

Te my individual testing, the 6950 gets somewhere around 340 mhash/s with a few optimizations. Overclocking and unlocking can get you around 400. You can get the 6950/70 vertoning by dividing the results of the 6990 GPU results te the graph.

My understanding of the GPUs used were based on what wasgoed available te house for testing.

More specific results (please keep te mind that I am using different settings than Kennen so they are not necessarily comparable):

My 6950 unlocked to 6970 shaders at 840 core gets 372.7 mhash/s using GUIMiner, and two kernel tweaks of the poclbm kernel, and AMD Cat 1.7 drivers and whatever version of Stream SDK comes with that. I’m further using the following flags which are gfx card version specific: -k poclbm VECTORS BFI_INT AGGRESSION=9 WORKSIZE=128

Hope it helps 🙂 If you have any questions please feel free to ask.

I’d be interested ter a little more information. I’m running a Sapphire 6950 2GB with unlocked (6970) shaders (but not flashed to 6970 speeds, I just OC when I need the boost). I’m also sporting a Core2Duo E8400 OC’d to Three.6 Ghz. I began mining last night, following the guides Ryan mentioned, and I’m consistently getting 320 Mhash/s, not the 340 you mentioned wasgoed possible with a few “optimizations.”

Do you know if the optimizations you mentioned (the flags) should work for my 6950, you said they are gfx card version specific – did you mean vendor specific, or just 6950 specific? Is it possible to use those flags when I’m using the GUIMiner, or do I need to be using a console? Thanks for any input!

Hi Adster, I am running a XFX 6950 2GB card with an edited BIOS to have unlocked shaders but not 6970 speeds (however the card is capable of running at them, I didn’t want to risk running the memory at the higher speed utter time).

The flags that I mentioned will work for you 6950, they are specific to the version of card you have, ter this case thesis flags are best used with AMD 6xxx series cards. You can set the flags te the GUIMiner toegevoegd flags area, however, you will need to edit the poclbm kernel opstopping for the other optimizations. You can find those by searching the bitcoin forums for kernel optimizations.

I hope it helps, let mij know if you need any help te sqeezing all the mhash possible outta that card 🙂

I have Gigabyte 6950 and overclocked at 900mhz it has 370MH/s , sometimes goes overheen, but permanently is 370MH/s, it is good for cost effective?

My HD 6950 achieves 362 Mhash/s, I use the following config:

The HD6950 is flashed with 6970 bios, GUIMiner, flags: -v -w128 -f1, Core Clock=890, Memory Clock=1580, PCI-E x16.

I am running an Asus 6950 with the shaders unlock but not the 6970 bios. I am achieving 379 Mhash/s.

I am running phoenix miner 1.6.Two from a directive line (guiminer’s gevelbreedte end slurps Mhash/s). My switches are -k phatk2 VECTORS BFI_INT AGGRESSION=13 worksize=128 FASTLOOP=false

Also I am running it OCed to 840MHz and the memory underclocked to 750MHz. It seems odd, but underclocking the memory adds another 1-2 Mhash/s.

Honestly, wij just didn’t test it because wij skipped some cards. Looking back, wij should have done one of them. You can see on our screenshot of “The Animal” that wij eventually plugged one te and got about

OK, who is doing this?

who is doing what? mining?

The Chilean miners, they are doing this for sure.

don’t count on unlocking a 6950 to a 6970 unless you get n older one. ATI/AMD is crippling the fresh ones.

No they’re not, whoever talent you that idea? NV?

This is a superb article, and shoved mij overheen the edge to begin mining. The only big question I have (aside from my earlier question about 6950/6970 voorstelling), is how the cost of electric current factors te.

Obviously wij are all subject to different utility rates, so you couldn’t give a cost-breakdown that would apply to everyone. However, I am nosey how much the average cost of electro-stimulation would deduct from the profits ter your chart?

Hi Adster, stay tuned to PC Vanaf for that informatie ,)

Is it possible to mine bitcoins ter using Windows7 64-bit, or do I have to install Linux?

Does the amount of system memory matter when mining bitcoins, or is the graphics card the only real limiting factor?

I have a dedicated mining machine which runs 24/7 te the wc (no, indeed — it sits ter the toilet). It has the cheapest AMD CPU I could find (sempron processor), 1GB of ram, a flash drive used spil the hard drive running Ubuntu Ten.Four on a headless (monitorless) system. The only thing truly going on is the 2×5850 Xtreme graphics cards pumping out

700 MHash. When I bought this equipment, it ran mij $530 after rebates from Tiger Meteen.

Linux or Windows doesn’t matter. Windows will require a dummy buttplug on any secondary movie cards because the OS won’t see it unless it has a monitor plugged ter.

Wij did that today spil well!

The 5770 is also a pretty glaring lack, because it is the one that would rival the most with the 5830. It is certainly not spil good, but it is undoubtedly far lighter to obtain a 5770 then a 5830.

Good point – wij should attempt to add it this week.

5830s are not indeed hard to find te stock. I get 219 MHash from my 2x5770s — Pretty far below (80ish?) what a 5830 gets you and they’re not that much cheaper.

The way bitcoin distribute it fortune is a waste of our limited energy. Please zekering it.

This is also not justly juist that only a few people get access to it and most people of the world is not having a chance

Obviously the hope is they spend it and waterput it back into circulation, right?

There is toughly about 8 megawatts being consumed. A dieselolie train engine generates Four so the entire network consumes about the same spil a train being pulled by two engines.

You can find accomplish mining and overclocking guides @ bitclockers.com

My GTX480 makes mij 80 dollars a month right now.

I think it is your responsibility to deter readers more actively from investing te hardware te order to conduct bitcoin mining and distance yourselves from those activities. It is effortless for people to understand that they can make money from computing power, but it takes some very careful reading to understand that by vormgeving, this entire enterprise will become less and less profitable overheen time. So I think it would be better to waterput the emphasis of the article on parallel computing spectacle and to use bitcoin merely for illustrative purposes. At the very least, you should factor te the energy costs te your profitability analysis, but ter my opinion, calculating projections is misleading and even deceptive, given the facts about Bitcoin (see below).

So my warning here:

Investing ter hardware ter order to engage ter bitcoin mining is a very risky and fairly possibly loss-making idea!

The calculations of “Days to payoff” and “1 year profit” ter this article are misleading: Not only is the rate of bitcoin creation is deliberately being slowed spil the total number of bitcoins approaches 21 millions, it is also getting more and more difficult to accumulate enough computing power spil the number of participants te bitcoin mining is enhancing (spil people reading this article and others will commence setting up their own mining operation). The only effect countering this deterioration ter profitability would be an increase ter the dollar value of the bitcoin, which is uncertain and unpredictable.

Oh hey look, that’s already ter the article..

“Please keep te mind that wij understand that thesis values will switch overheen time not only because of the exchange rate differences but because your capability to mine Bitcoins will slow down overheen time spil the algorithm to find coins becomes more and more elaborate spil the network hashing power increases. Read overheen the very first two pages of the article again to understand WHY this happens but just know the results you will see below are based on an example te time during this writing process!”

I hope this is a dumb question, but what prevents a virus from creating a mining botnet?

Nothing truly. Plus a virus which specifically only attempted GPU mining would be alot lighter to hide ter the windows environment since most users are unlikely to be monitoring GPU usage levels when simply web browsing etc.

A virus which intelligently slowed its mining attack if the user wasgoed attempting to do something GPU intensive (gaming), ter order to hide the system use and keep the user from noticing massive in-game slowdown, could likely mine away unnoticed.

I do not fully understand the setup te regards to mining spil a pool tho’, which is what you would ultimately want all your zombied systems to do. I guess it is very likely not ‘that’ difficult to setup a pooling setup given how many proceed popping up, plus presumably someone writing a virus specifically targetted at hijacking GPU cycles is most likely a welvoeglijk enough coder.

There have actually bot some botnets (that have since bot shut down) mining for pools, however, they were thousands of computers using the CPUs to mine spil access to the GPU hardware is more difficult/would require more end user cooperation to get that botnet software installed and running, AFAIK.

This test didn’t use DiabloMiner, so it’s automatically invalid.

What price did you use for power ter your profit calculations? At 500W for a plain 6990 system, total power consumption ter a year of 24/7 use will be 4380 kWh. Your profit after one year will be negative if your price for power is more than about 35 cents, assuming onveranderlijk difficulty. All Nvidia cards will operate at a loss unless your power is very cheap or free.

Difficulty is about 1000 times larger now than half a year ago, BTW. Power cost has become the most significant factor te mining profitabilty.

You should check out the 2nd article for a host of details on that topic:

For european readers, the power use is a bit more significant. 1kwh of power costs on average around 0.25 euro.

Which means a system like the brute (using 1kw of power) will cost you 0.25*24*365 = 2190 euros vanaf year ter electro-stimulation.

The brute yearly produces 3637 dollar omschrijving bit coins, which is about 2584 Euros.

That means it will effectively only produce 394 euros. And that is not counting the cost of buying the system.

A 6990 ter the default BIOS position should generate 330 MHash/s Vanaf core. That’s 660 MHash/s vanaf card. I’m not sure why, but your card is displaying a much slower speed on one of the cores. (

Switch the BIOS switch to position Two and you’ll be at 360-375 MHash/s vanaf core.

You also seem to be missing the most basic flags for GUIMiner running poclbm: -v -w128

Does anyone see this spil an AMD ATI scam? I smell so O_o

Your cpu usage is foolish!

It’s prolly the guiminer interface or something.

My ‘equipment’ runs 350Mh/s on i7 2600k and HD6970 and infrequently hits 4% cpu usage.

And that is while i run an active minecraft server and use the equipment to witness movies and stuff (gets it to about 8% for SD movie).

I’m using the Phoenix miner omzetbelasting.

“. maximum spectacle on a Core i7-2600K of 8 instructions x Four cores x Three.Four GHz = 108.8 GigaInstructions.”

It’s Four oprecht operations/instruction x Three instructions/clock x Four cores x Three.Four GHz = 163.Two GigaInstructions/2nd. AVX is Four oprecht operations/instruction or 8 floating point operations/instruction. Each clock can punt up to Trio instructions if they don’t depend on the response of the previous instructions. The nice thing with AVX overheen SSE2 is AVX has instructions like a = b *operation* c vs a = a *operation* b for SSE2.

Superb articles guys. thanks.

You DO know that there are single-slot water-cooled Radeon HD 6990 monstrosities out there, do you? 8 of thesis ter a single system *head spins*.

This entire thing sounds kleintje of stupid.

Who is this IDIOT catapulting bit coins? Moron, the US government has nothing to do with the Federal Reserve Canap. It is possessed by private individuals. Do you homework before your next show-n-tell.

Who is this IDIOT tucking bit coins? Moron, the US government has nothing to do with the Federal Reserve Canap. It is possessed by private individuals. Do you homework before your next show-n-tell.

Now i know why i can’t find another 5850 to run crossfire with. The ones i do find are way overpriced now.

I’m looking at testing out a very plain mining equipment. If I get a Radeon 6XXX series GPU, would it make sense to use it on a Core Two Twee system? Would the CPU be a knelpunt?

So your telling mij you waterput a Virus on your laptop that helps criminals launder money.

you let it operate through your GPU because there is no security there.

and you spend hundreds on hardware and power, for a proefneming ter social engeneering?

then you think that because Three places are taking the hype of the bitcoin spil a COUPON to sell you shit at Three times the normal cost, that the bitcoin is therin a currency?

what do you think your GPU is truly processing?

or does anyone think?

You just dont get it,

the GPU is processing YOU!

It is internally cyclicly redundant pre-processing your own non-trasnactions, into a multilevel advertising purchacing and marketing scheme.

If they do not enable the user with a journey, then there is no spel to be played. There is no Corelation to alternative universal dimentional shifting of exchange goods te virtuality, when there still is nothing but virtuality ter existance.

How do you perceive that something exist when one person tells you that it exist, and masses of people join that ONE person to confirm that it exists.

That is a singularity of the black crevice diversity.

Kwestie -problem guiminer with dual gpu card HD6870x2 powercolor. After creating fresh worker for the 2nd Gpu, it still doesnt work 0 Mhashes the very first gpu at 304 Mhashes clock at 970 Mhz 60% fan speed temp 74 degrees Celsius

flags -v -w128 -a4. Does anybody know how to setup this correctly , so that both gpu´s work at the same time thank you for helping mij out.

This is all far too complicated for mij. Can’t you have a ordinary verbinding to click on that will look at one’s machine and say “yes” or “no”?

How do I buy the animal? Then after I buy, I would most likely find a better more efficient system where?

You guys truly need to rerun this test using bitminter. I have the GTX 560 TI and I am getting 138 Mhps with that card. Also would truly like to see how the fresh ATI 7xxx series cards perform.

is your 560ti a 448 core version or no? also are you only running 1 card or do you have a sli, tri-sli, or tri-sli with a fourth dedicated physics card?

kinda wonder what my ole x58 equipment might pull off with its i7 980X cpu

3x GTX 560Ti 448 core GPU’s

lowly 9600GT that is just ter there spil a dedicated PhysX processor

course I built it with a 1600 watt psu and the system doesn’t pull enough juice to indeed even warm the power supply up LOL

Has anyone considered solar power for the electrical play? Take longer to recoup costs, but any analysis?

Postbode fresh comment

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