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Number crunching :
Seti fundraising via Bitcoin Utopia
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Hans Dorn Send message Joined: 3 Apr 99 Posts: 2262 Credit: 26,448,570 RAC: 0 |
Well... I managed to wreck some WU's by messing around with BOINC options. Guess I'll stay with running a single BOINC instance then. |
Dad Send message Joined: 21 May 99 Posts: 44 Credit: 35,266,844 RAC: 10 |
Does anyone know of a conversion from wu to bitcoin to dollars to Seti? |
HAL9000 Send message Joined: 11 Sep 99 Posts: 6534 Credit: 196,805,888 RAC: 57 |
Does anyone know of a conversion from wu to bitcoin to dollars to Seti? Since the conversion rate constantly fluctuates, like currency exchange rates do, it is unknown. Once a campaign is finished they could provide the details for 1 task = 0.00001 BC or such. SETI@home classic workunits: 93,865 CPU time: 863,447 hours Join the [url=http://tinyurl.com/8y46zvu]BP6/VP6 User Group[ |
Josef W. Segur Send message Joined: 30 Oct 99 Posts: 4504 Credit: 1,414,761 RAC: 0 |
As Hal says, the conversion fluctuates. See http://coinmarketcap.com/currencies/bitcoin/#charts for instance. Note that for U.S. residents Bitcoins are considered property per IRS Notice 2014-21 and the cost basis is the conversion rate on the day you earn or buy the property. Joe |
Jeff Buck Send message Joined: 11 Feb 00 Posts: 1441 Credit: 148,764,870 RAC: 0 |
Does anyone know of a conversion from wu to bitcoin to dollars to Seti? Although it doesn't directly answer your question, I found this message over in the Bitcoin Utopia forum: It's possible to give some estimates using this Bitcoin Mining Calculator. I believe that only dedicated ASIC hardware would meet or exceed that 1 GH/s hashrate that he mentions. For GPUs and CPUs, there's a somewhat outdated chart in this Wiki. However, I think the first paragraph is about all most of us need to read: Due to the rising hashrate of the bitcoin network caused by the introduction of ASICs to the market, GPU mining Bitcoins has become impracticable. The hashrate of most GPU units is below 1GH/s, and as of 2014, some single ASIC units are able to reach speeds of over 1,000GH/s while consuming far less power than used by a GPU. So, my own choice is simply to save the electricity and dedicate a percentage of the money I'm saving during this outage directly to the project. As always, YMMV. ;^) |
betreger Send message Joined: 29 Jun 99 Posts: 11360 Credit: 29,581,041 RAC: 66 |
So, my own choice is simply to save the electricity and dedicate a percentage of the money I'm saving during this outage directly to the project. As always, YMMV. ;^) Or find something else good to do |
HAL9000 Send message Joined: 11 Sep 99 Posts: 6534 Credit: 196,805,888 RAC: 57 |
Does anyone know of a conversion from wu to bitcoin to dollars to Seti? With that kind of processing rate. One of the specialized ASIC miners that runs ~100GH/s & uses about 100w mining Bitcoins for me would net about $5.94/yr after factoring electric costs. So the other coin types would be a much better choice. Bitcoin utopia uses various coin types for their campaigns. Some are more cost effective than others from what I have read. With Bitcoin being one of the hardest/most costly to mine. It looks like the primary type for the SETI@home campaign is Peercoin. SETI@home classic workunits: 93,865 CPU time: 863,447 hours Join the [url=http://tinyurl.com/8y46zvu]BP6/VP6 User Group[ |
Jeff Buck Send message Joined: 11 Feb 00 Posts: 1441 Credit: 148,764,870 RAC: 0 |
With that kind of processing rate. One of the specialized ASIC miners that runs ~100GH/s & uses about 100w mining Bitcoins for me would net about $5.94/yr after factoring electric costs. Does that also account for the 10% rake that BU is taking off the top of the total mined (not the net), and any pool fees that aren't included in that 10%? :-) Bitcoin utopia uses various coin types for their campaigns. Some are more cost effective than others from what I have read. With Bitcoin being one of the hardest/most costly to mine. It looks like the primary type for the SETI@home campaign is Peercoin. Peercoin certainly looks like it might be more economical to mine but, as with just about everything in this murky cryptocurrency world, it's kind of hard to pin down anything concrete. A quick search turned up a Peercoin Mining & Profit calculator, but I have no way of knowing how plausible the estimates are or whether there's actually any way to tie those numbers to what goes on over at Bitcoin Utopia. It gives me a headache trying to make sense of the intricacy of it all! ;^) |
HAL9000 Send message Joined: 11 Sep 99 Posts: 6534 Credit: 196,805,888 RAC: 57 |
With that kind of processing rate. One of the specialized ASIC miners that runs ~100GH/s & uses about 100w mining Bitcoins for me would net about $5.94/yr after factoring electric costs. With the project you are not collecting any currency of any kind. I was using the quoted figure of 0.14 US dollars a month in my calculations figuring mining for profit. Not for Bitcoin utopia. As with any project it is all an expense. At the rate of $6/yr it would take about 13 years to pay for the hardware I was referring to at a cost of $80 just to break even mining Bitcoins. It looks like it would take about 3.3 years to break even for Peercoin with that same hardware. SETI@home classic workunits: 93,865 CPU time: 863,447 hours Join the [url=http://tinyurl.com/8y46zvu]BP6/VP6 User Group[ |
Blurf Send message Joined: 2 Sep 06 Posts: 8962 Credit: 12,678,685 RAC: 0 |
The fundraising project is running VERY quickly. Lots of mining going on. Goal is already almost 50% complete. http://www.bitcoinutopia.net/bitcoinutopia/forum_thread.php?id=265 |
Hans Dorn Send message Joined: 3 Apr 99 Posts: 2262 Credit: 26,448,570 RAC: 0 |
Awesome. Guess there will be an extension pretty soon. |
HAL9000 Send message Joined: 11 Sep 99 Posts: 6534 Credit: 196,805,888 RAC: 57 |
Awesome. One of the BCU admins said that Eric can increase the amount or make it reoccurring if it is desired. SETI@home classic workunits: 93,865 CPU time: 863,447 hours Join the [url=http://tinyurl.com/8y46zvu]BP6/VP6 User Group[ |
HAL9000 Send message Joined: 11 Sep 99 Posts: 6534 Credit: 196,805,888 RAC: 57 |
The first SETI@home BCU campaign has completed & it looks like we did it in about 90 days. http://www.bitcoinutopia.com/2014/11/setihome-annual-fund-drive/ SETI@home classic workunits: 93,865 CPU time: 863,447 hours Join the [url=http://tinyurl.com/8y46zvu]BP6/VP6 User Group[ |
Andrew Hughes Send message Joined: 11 Jan 15 Posts: 11 Credit: 127,905 RAC: 0 |
Not the best at optimizing for AP/MB tasks on seti, but I know bitcoin ins and outs. In the future if anyone wants to optimize gpus and such I would be glad to help(AMD/ATI>nvidia in crypto) |
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