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CoinLab

Coinlab Faq: How To Earn Silver Coins With Your Graphics Card

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Hi everyone,


 


I've been using this to gather a bit of money to get me started in the game, and I'd like to give some feedback/reinsurance. Using an AMD HD 5870 I'm mining around 400i/hr, though apparently these cards are very effective at these sorts of computations. It took 24 hours for the first money to be deposited into my account in wurm. which is indeed your normal bank account. After this period it has been paid out regularly. My card uses slightly less than 200w at full power.


So after some quick math i get 1 silver coin every 25 hours of mining, which costs me 1,10 euro where I live. (I'm only running it when using the computer.)


 


I would recommend using this, especially if you have an AMD card, they seem to be much better at this.


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Using an AMD HD 5870 I'm mining around 400i/hr, though apparently these cards are very effective at these sorts of computations

 

You have one of the most efficient video cards in terms of both power usage and cost of the video card.

https://en.bitcoin.it/wiki/Mining_hardware_comparison#Single_Card_Setups

 

However, expect a significant drop on returns in a couple of days as the difficulty adjusts for the increase in total computation speed.

http://bitcoindifficulty.com/

 

The 50% increase in computation speed in the past week, 100% increase in the past month, and 700% increase in the past 4 months are caused by chips developed and optimized purely for bitcoin computations.  The reason that the iron per share has stayed relatively the same since a year ago is that Bitcoin has strengthened against government controlled currencies significantly.  Barring another spike in the exchange rate though, I hope coinlab has some other work lined up in a few months when even AMD cards cannot pay for their power usage.

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I'm just did update for video drivers and old client dont start, shows "runtime error!" message and latest client start with coinlabengine.exe crash. What to do?


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between 60-70i/hour


 


specs i5 3570


8gb ram


Geforce gtx 660


 


is it normal?


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Well it sounds very Interesting to me having a very good gaming computer ( well since just GPU power counts here : I have 2 GTX590 in my PC :) )


 


 


But... people tend to forget its not only the electricity bill they raise with it but also they shorten the lifetime of their graphic card (and other parts of their PC) so u need to add that to the price :) 


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Well it sounds very Interesting to me having a very good gaming computer ( well since just GPU power counts here : I have 2 GTX590 in my PC :) )

 

 

But... people tend to forget its not only the electricity bill they raise with it but also they shorten the lifetime of their graphic card (and other parts of their PC) so u need to add that to the price :)

nvidia isnt very good for bitcoin mining at all. mid-range ati cards from 2009 outperforms gtx 590. :)

Edited by Rotab

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My issue remains unanswered.  The coin miner application keeps choosing my low QL video card instead of my NVIDIA GTX card.  I already instructed the laptop to use the high performance card thru the NVIDIA Control Panel but the program insists to use the onboard one.  Please help.

 

This is my issue as well. I would like to at least test my NVIDIA high performance card and see where it rates on this mining but I cannot get the client to find anything other than my onboard Intel HD4000 integrated.

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minning...no coins gained....wth does this even work? The original one way back when...it first came out was great..payed my monthly sub on 2 accounts every month.....so now its broke????

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Alternately you could just mine bitcoins in the background. and sell them on the open market for money. and use that money to buy silver coins.


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I will try this, I mine BTC a lot. I will see if this is worth it.


 


For those of you with Nvidia cards, this is not worth it for you. Nvidia does not compute these calcuations well, it is a design of the chips. AMD cards do awesome for this, with my 7970 can do about 750mh/s of btc and 600kh/s ltc so I suspect I will be able to produce a lot of silver. I will report my results in a few days. I also know how much money I make per day with my 3pcs doing just BTC at current prices $104 per btc I do roughtly $12/day. Hopefully this yields similar results, then I can avoid the pain staking process of turning btc into usd since the feds blocked mtgox to dwalla


Edited by mdtrav

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I am getting this error on one of my pc's with the main client. The old client works thought.



[C 130626 21:39:25 main:90] Client shutdown.
[W 130626 21:39:25 jsonremote:301] Stream not connected. ({"method": "shutdown)
[W 130626 21:39:25 jsonremote:120] conductor <-CANCELED[0]- engine.shutdown
[E 130626 21:39:25 util:250] Exception in exit function for C:\Users\media/coinlab-client.pid ('NoneType' object has no attribute 'stop').
[C 130626 21:39:25 util:251] Process terminating (pid=3564).
[E 130626 21:39:25 main:84] Application error.
Traceback (most recent call last):
File "main.py", line 70, in main
File "tornado\web.pyc", line 1240, in listen
File "tornado\netutil.pyc", line 103, in listen
File "tornado\netutil.pyc", line 268, in bind_sockets
File "socket.pyc", line 224, in meth
error: [Errno 10013] An attempt was made to access a socket in a way forbidden by its access permissions

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Well, after about 48hrs of mining at about 850mh/s and only earning a bit over 3 silver. At $2.16 each, is only $6.48. That is barely enough to cover power costs. I may run it now and then to get my 10s for premium. 


 


my 850mh/s home network I earn about $8-$12 now or so a day at mining.bitcoin.cz. My office network of (7.3gh/s for 16hrs when it is empty) (about 4gh/s for 8hrs during work day hours) earns a lot more, I was hoping to bring that online here and earn some hard silver, but taking about 60% off the top is not worth it. I think you guys need to lower your profit margin a bit. That is a bit outrageous in my opinion. 


 


20% may be a bit more reasonable, it will turn all the hardcore miners away taking that much profit. From the looks of it your pool has a very low user base. Maybe that is why? Your protected pool payout is about average for the btc mining community but the gaming ones are not.


 


that is just my $.02 on it. 


 


If anyone needs help setting up real btc mining stuff pm me and I can help. You could easily double what you are making than doing this coinlab thing.


Edited by mdtrav

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my 850mh/s home network I earn about $8-$12 now or so a day at mining.bitcoin.cz.

 

I had 1GH/s (5770 + MMQ) running on ozcoin in mid April and only earned an average of 0.0523BTC per day over a week (luckiest day was 0.0674 and least lucky day was 0.0420), so at $100USD/BTC, that is only $5.23 per day, or a range of $4.20 to $6.74 on a specific day.  I don't see how you are getting $8 - $12 now with slush seeing as the difficulty is triple that in April.

 

In the end of January and early February when I switched from slush to ozcoin due to stratum problems with namecoin merged mining, my average with ozcoin was 0.1598BTC per day over a week (luckiest day was 0.2274 and least lucky day was 0.0706) while my daily reward graph in slush shows an average of 0.1224BTC per day in the last 6 days I mined there (luckiest day was 0.1869 and least lucky day was 0.0770).  This is just to show that slush and ozcoin are comparable pools.  In case you are wondering why only 6 days with slush, the 7th day was partially without my MMQ yet and only with the 5770.

 

And my entire payout with ozcoin before switching to coinlab averaged to 0.0968BTC per day, which seems about right with 0.15 per day at the beginning and 0.05 per day at the end.

 

Incidentally, I learned about Wurm from the bitcointalk marketplace forum around when the price of BTC to USD was skyrocketing and adjusting, so I switched from ozcoin to coinlab.  There is a lot of convenience with having the coins just show up in my account as opposed to having many steps to convert BTC to coins (previously, I only hoarded coins and would spend them on things like an MMQ, instead of converting to fiat).  I have since stopped my 5770 from mining because the summer heat is here, but my 40 watt MMQ keeps on chugging away with coinlab for the time being.

Edited by Odi

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I dont sell my coins on mtgox anymore. I get more because I do not have to worry about fees. MtGox got to be a pain in the ass and expensive. When selling a massive amount of coins, and to many restrictions. I will always suggest new users use mtgox or a service similar, because it is easy and safe.


 


The price is dropping now again and I have just been mining for silver at home for the last week or so. I have not mined btc at home for a month or so, so yes I may not be getting that price anymore. Looks like mtgox is around $90, I am still selling for $120-$130.


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Well, after about 48hrs of mining at about 850mh/s and only earning a bit over 3 silver. At $2.16 each, is only $6.48. That is barely enough to cover power costs. I may run it now and then to get my 10s for premium. 

 

my 850mh/s home network I earn about $8-$12 now or so a day at mining.bitcoin.cz. My office network of (7.3gh/s for 16hrs when it is empty) (about 4gh/s for 8hrs during work day hours) earns a lot more, I was hoping to bring that online here and earn some hard silver, but taking about 60% off the top is not worth it. I think you guys need to lower your profit margin a bit. That is a bit outrageous in my opinion. 

 

20% may be a bit more reasonable, it will turn all the hardcore miners away taking that much profit. From the looks of it your pool has a very low user base. Maybe that is why? Your protected pool payout is about average for the btc mining community but the gaming ones are not.

 

that is just my $.02 on it. 

 

If anyone needs help setting up real btc mining stuff pm me and I can help. You could easily double what you are making than doing this coinlab thing.

 

We take 20% for gaming users, not 60%.  We only charge 5% for regular Bitcoin miners because payouts are in Bitcoin.  The extra 15% for gaming uses is the cost of providing a user-friendly client, taking the risk of pooled mining, and handling the currency exchange.  I think the discrepancy you are seeing is likely caused by the high volatility of price and the rapidly increasing difficulty.

 

According to this calculator, 850 MH/s gets you $1.68 a day at current price and difficulty, so I don't know where you got that $8-12 number.  Maybe back in April when the price was 3 times what it is now and difficulty was 1/4 of what it is now.

 

Edit: I forgot one more thing.  Our client is a bit different than other mining clients.  First, we don't offer any customization, so you cannot tweak the kernel to fit it to your graphics card.  This can result in a slight decrease in hash rate.  Also, it tries its best to only use spare GPU power.  If you turn the client on maximum, then go play a GPU intensive game with maxed graphics settings, the miner will all but stop until you stop playing.

Edited by CoinLab

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I still dont get the idea. Hook up some computers to do random calculating? Or is the power actually used somewhere?

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I still dont get the idea. Hook up some computers to do random calculating? Or is the power actually used somewhere?

 

Bitcoin is a crypto currency, which means that to create bitcoins, you need to brute force a specific cryptography hash function to find the solution.  So instead of your normal currency which is backed by governments, bitcoins are only valuable because of the work required to generate the bitcoins.

 

In the beginning it was via CPU hashing, then it evolved into GPU hashing, then it evolved into FPGA hashing, and now it is at ASIC hashing.  Coinlab was created when GPU hashing was the king as a way to entice gamers into devoting their GPUs to making in game goodies.

 

Given the weak payout of GPU hashing these days, I believe Coinlab is trying to find alternatives that will generate more income.  However, most available work are pro bono like folding@home or seti@home

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if it would let me use cgminer to mine with i would do this. but at current the client sucks.


i get an average of 5 shares per minute using cgminer, with this client i get 80 shares per hour - with everything turned up to max. the client doesnt use my gpu as i want it to be used and is just a waste of time.


i will continue to mine on slush's pool until im allowed to use cgminer for this


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if it would let me use cgminer to mine with i would do this. but at current the client sucks.

i get an average of 5 shares per minute using cgminer, with this client i get 80 shares per hour - with everything turned up to max. the client doesnt use my gpu as i want it to be used and is just a waste of time.

i will continue to mine on slush's pool until im allowed to use cgminer for this

 

You can, currently I am pointing my MMQ at it.  The instructions are buried in this thread somewhere.

 

http://pool.coinlab.com:8332

Username: wurm_(username in all lower case)

Password: x

 

Check http://pool.coinlab.com/partners/wurm/stats for stats, login with your username and no password needed

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You can, currently I am pointing my MMQ at it.  The instructions are buried in this thread somewhere.

 

http://pool.coinlab.com:8332

Username: wurm_(username in all lower case)

Password: x

 

Check http://pool.coinlab.com/partners/wurm/stats for stats, login with your username and no password needed

see i managed to get the url and password out of the files, couldnt find the username. thanks

Edited by terrorist

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Still have the same problem with my NVidia card.  I have an onboard and the Nvidia card and the coin miner only reads the onboard one even though the high performance is the default one.  Please help, this card can make tons of coins that are being wasted.


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I just tried this with my GTX660Ti @ 95% GPU usage and left it running for 4 hours. I earned ONLY 66 Iron ??????  It takes 10K of iron to match 1 silver. So at this rate, If I was to mine for 24 / 7 for over 9 months, I would finally make 10 silver. Your video card would burn out within a few months of this. The money you spend on a video card, you could have paid for the silver for a LOT LESS.


 


This is not worth it.


Edited by JackDawson

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I just tried this with my GTX660Ti @ 95% GPU usage and left it running for 4 hours. I earned ONLY 66 Iron ??????  It takes 10K of iron to match 1 silver. So at this rate, If I was to mine for 24 / 7 for over 9 months, I would finally make 10 silver. Your video card would burn out within a few months of this. The money you spend on a video card, you could have paid for the silver for a LOT LESS.

 

This is not worth it.

 

Nvidia sucks at mining because they have good designs, while AMD is good at it because they make up for worse designs by adding many parallel shaders (hence making them good at brute forcing things).

 

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

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Ummm what us going on with this? I have been stuck on Connecting to compute pool.... Scam? broken?


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