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First off, are you stupid to think that it will go well?

I did some tests today, for kicks and giggles to see what you can get out of using a CPU miner, since I know of no VPS providers that stick an idle 600$ GPU in there setups, I assume we all would be using CPU mining.

[emailprotected]:~ cat /proc/cpuinfo processor : 0 vendor_id : GenuineIntel cpu family : 6 model : 15 model name : Intel(R) Xeon(R) CPU E5345 @ 2.33GHz stepping : 7 microcode : 0x67 cpu MHz : 2333.000 cache size : 4096 KB physical id : 0 siblings : 4 core id : 0 cpu cores : 4 apicid : 0 initial apicid : 0 fpu : yes fpu_exception : yes cpuid level : 10 wp : yes flags : fpu vme de pse tsc msr pae mce cx8 apic sep mtrr pge mca cmov pat pse36 clflush dts acpi mmx fxsr sse sse2 ss ht tm pbe syscall nx lm constant_tsc arch_perfmon pebs bts rep_good nopl aperfmperf pni dtes64 monitor ds_cpl vmx est tm2 ssse3 cx16 xtpr pdcm dca lahf_lm dtherm tpr_shadow bogomips : 4655.46 clflush size : 64 cache_alignment : 64 address sizes : 36 bits physical, 48 bits virtual power management: 8 Cores in total.

I get roughly 3071Khash/s per core. Thus 8 * 3000 equals about 2mhash/s, which is really slow. My old GTX250 gets around 30mhash/s, and my 570 gets about 130mhash/s as a point of comparison.

After a whole day I have done roughly 700 parts. Over a month that would be 21,000 parts.

Sadly though, 5,000 parts equals about 0.01$ at current value, thus over a full month of processing I would garner about 0.04-5$. Thus on a 7$ vps you would loose 6.95$ by running a bit miner.

Please dont use your VPS for mining, it is just a waste of your money.

. Miners are starting to get really annoying. I know none of them are considering these economics. Hopefully they will.

I think no one does Bitcoin mining on a VPS really.

I think no one does Bitcoin mining on a VPS really.

Youd be surprised. I keep seeing clients using CPU miners on our Blue0.5 plans. Idk WHAT they think theyll get from it, tbh.

Virtual currency is useless anyway and hopefully this stupid trend will die out. It is amazing at how much effort people put into mining this fake currency when they get nothing in return apart from a bunch of fake coins in a fake wallet.

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Virtual currency is useless anyway and hopefully this stupid trend will die out. It is amazing at how much effort people put into mining this fake currency when they get nothing in return apart from a bunch of fake coins in a fake wallet.

And those fake coins can be sold for money, thats what they get.

And those fake coins can be sold for money, thats what they get.

They are sold through people buying them; so people waste money buying more fake coins just to sell them on again. So, they are worth nothing.

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lars said: They are sold through people buying them; so people waste money buying more fake coins just to sell them on again. So, they are worth nothing.

How about buying products in www anonymously? Doesnt sound so worthless to me.

Why would someone want the coins, other than to sell on again? What is the point of buying products anonymously?

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How about buying products in www anonymously? Doesnt sound so worthless to me.

How about completely scammable and unsecured? BitCoin is another trend that will die in a couple years once it gains enough popularity to become hacked and corrupted.

[Disclosure: I work for a public institution, any comments made reflect myself and my personal views only.]

You can try mining CPU only coins like Primecoin and Protoshares. Primecoin needs more cores while Protoshares needs CPU and RAM. Recommended Protoshares setup is 512MB/core but always leave free RAM for the system to use.

Virtual currency is useless anyway and hopefully this stupid trend will die out. It is amazing at how much effort people put into mining this fake currency when they get nothing in return apart from a bunch of fake coins in a fake wallet.

Does it make you jealous that some people made millions with bitcoin?

lars said: Why would someone want the coins, other than to sell on again? What is the point of buying products anonymously?

Does it make you jealous that some people made millions with bitcoin?

Does it make you jealous that some people made millions with real money that is actually worth something inreal life?

If I wanted to make millions with bitcoins, then Id make an account. But a bitcoin isnt worth anything other than to sell on, so it is one continous loop of worthlessness.

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Earn money just for browsing with Qmee!: Link)

lars said: Which was shut down by the FBI. Nice try…

lars said: Why would someone want the coins, other than to sell on again? What is the point of buying products anonymously?

lars said: Does it make you jealous that some people made millions with real money that is actually worth something in real life?

Sell bitcoins get real money, tell me again how its fake?

Does it make you jealous that some people made millions with real money that is actually worth something in real life?

It actually doesnt really make me jealous because I make money doing what I love.

So earningrealmoney with bitcoins and buyingrealproducts with bitcon = fake

Sell bitcoins get real money, tell me again how its fake?

Because as you said they get real money, they arentworthanything themselves.

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@lars said: Because as you said they get real money, they arent worth anything themselves.

You have a car. If you sell it to someone, you get real money in exchange. So as I said, you get real money, the car isnt worth anything itself. Tell me how that makes sense to you?

All I am saying is bitcoin is useless and should die out now, we should use real money instead. Bitcoin is a threat to real currency.

It has no advantages other than being anonymous and easier to manage. However, the only use for bitcoin is if you want to do something illegal.

Because, bitcoin is meant to be a currency, and currency ismeantto be worth something. A pound is worth a pound. A bitcoin is worth nothing currency wise.

Earn money just for browsing with Qmee!: Link)

Earn money just for browsing with Qmee!: Link)

Paper money is made out of paper which costs barely nothing. Still if it says its worth $20 its worth $20, even though its worthless itself.

Virtual Currency that can be used to purchase actual real, physical, goods.

Bitcoins are actually worth around $500 each, so they are are worth something… around $500 REAL dollars that can be used to buy REAL goods.

You buy a VPS does that mean its not a real server, just because its virtual?

@lars said: All I am saying is bitcoin is useless and should die out now

I totally agree with you. I hate virtual currencies as much as you, if not more. Theyre worth nothing to me, but theyre worth $660.8 USD each as of the current exchange rates to people who are interested in them. Bitcoins are basically like trading stock.

Oh well, I just see no use for them at all other than to trade with other bitcoiners.

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Theres no questioning Bitcoins existence/uses. The main issue here is that people are buying VPSs to do coin mining, which really doesnt pay for itself.

Alongside that, (I hope) we all know that once something is put on the Internet/virtual world, it is no longer secure. This being said, once Bitcoin and all the other coin trends reach a certain point of popularity, they will become hacked and the services will be unstable and ruined. The virtual coin economy will go to ruins because of hackers inflating the economy with counterfeit coins.

This makes me wonder, if you generate fake Bitcoins and throw them into the economy, would it be classified as money laundering since it is an electronic form of currency?

[Disclosure: I work for a public institution, any comments made reflect myself and my personal views only.]

I dont own a single bitcoin but i am happy for people who became rich from it.At least this currency helped people to make their life better.

Profit comes from Mining + Trading. The coins that you mined will be traded in exchanges and profit from the trades.

Others only mine and dump thats why there is indeed no profit from it. If you use the coins that you mined as a capital for trading then it will eventually make a profit.

It already got hacked (owner probably ran off w/ the bitcoins)

lars said: Because, bitcoin is meant to be a currency, and currency is meant to be worth something. A pound is worth a pound. A bitcoin is worth nothing currency wise.

Contractually bound by a verbal non-disclosure agreement

, Silk Road II was either hacked or a scam from the beginning. Apparently it just happened yesterday.

Can he tell us the advantage of fake coins over paper fiat currency

How to clean up a questionable reputation: throw the kids some BF/CM offers.

Their worth is determined entirely by what people are willing to pay for them..

Please read up on currency, what do you think makes your real currency worth anything?

Edit: actually just read through this thread, the lack of education on bitcoin is hilarious.

I was under the impression that mining had moved from CPU (early days) to specialty GPU (later) to custom FPGA (now) and that it was not really worth the time even if you had a dedicated i7 to tie up for months.

For LET support, please visit theinterim support desk.

Mine a cent after a month + Paypal chargeback = profit!

people mine on them not for what they are worth now but what they will be worth in a few years, it is still not a good economy though.

I have probably had to remove around 70 – 100 customers due to mining over the last 3 months, they all kick up a huge fuss about it, are generally rude and insulting and a lot file disputes.

Its a real problem, I do not have any problem with someone wanting to invest now for future value, I myself was very close to buying 400 BTC back when they were worth $4.00 each and even then the power alone would not have covered the value … I really wish I had now.

The issue is that it is done withnorespect for the quality of service for anyone else, this is either due to lack of knowledge or a Who cares as long as I get what I want attitude.

You are stupid if you think people are mining bitcoin on a CPU.

This thread only shows the lack of knowledge in mining and in the crypto world.

I suggest you do more research before doing a useless experiment. There are like way over 100 coins nowadays, some are optimized for ASICs (like bitcoin), some for GPUs (like litecoin), and others are optimized for CPUs (like Primecoin).

Youre proving that CPU mining is useless by mining an ASIC coin on a CPU. Thats like comparing an apple to an orange. The comparison is useless and wont get you anywhere.

Redo that little testing by mining Primecoins or Protoshares, and then the thread and the results will make more sense.

Mining is only worth it on VPSs when its either a GPU-Resistant Coin like Primecoin and Protoshares or when a coin is just released. Other then that mining is not really worth the trouble.

You are stupid if you think people are mining bitcoin on a CPU.

This thread only shows the lack of knowledge in mining and in the crypto world.

I suggest you do more research before doing a useless experiment. There are like way over 100 coins nowadays, some are optimized for ASICs (like bitcoin), some for GPUs (like litecoin), and others are optimized for CPUs (like Primecoin).

Youre proving that CPU mining is useless by mining an ASIC coin on a CPU. Thats like comparing an apple to an orange. The comparison is useless and wont get you anywhere.

Redo that little testing by mining Primecoins or Protoshares, and then the thread and the results will make more sense.

You are correct, but many people I know of are trying to mine bitcoins on VPSs, thus this point proving its inefficiency. Yes I know bitcoin isnt built for CPU. However, that wasnt the point of the test. It was the fact that people try to mine bitcoins with CPU.

You are stupid if you think people are mining bitcoin on a CPU.

Counterpoint:@AnthonySmiths post directly above yours

Contractually bound by a verbal non-disclosure agreement

A friend got his vos hacked… And they just installed a miner…

just for fun since i have two idling dedis (E3-1230 & E3-1270v3) doing Primecoin Mining.. and… i can tell ya.. its not really worth it even with these. unless im doing something wrong.

@AnthonySmithI agree with in miners causing great troubles recently.Sometime multiple miners in same node causing the node to be down.I have suspended about 10 miners till now.

just for fun since i have two idling dedis (E3-1230 & E3-1270v3) doing Primecoin Mining.. and… i can tell ya.. its not really worth it even with these. unless im doing something wrong.

Allocate 512MB / core thus your syntax would be

./ptsminer PTS ADD No. of Threads 27(for 512MB) mode

Mode can be avx, sse4, sph(default). tested for me sse4 is the fastest of the 3 modes.

Had to suspend a lot of them and also make it clear in ToS/AUP and provisioning mails that mining is abusive therefore not allowed.

As for what Bitcoin is and will be, as well as other ones like it, that is a different story, still, the only way for the Internet to be independent is to have own means of payment for services and even goods. Maybe a better way will be discovered, right now these are best found.

Extremist conservative user, I wish to preserve human and civil rights, free speech, freedom of the press and worship, rule of law, democracy, peace and prosperity, social mobility, etc. Now you can draw your guns.

Yeah we just kicked 3 clients that used mining on our VPSs

Here is a website to calculate profitability of mining various coins. Put your hash rate and power cost and click on the button.

And the OP is right, you get 0.01 USD per day mining bitcoin on a VPS, which is silly to do so.