Seti fundraising via Bitcoin Utopia

Message boards : Number crunching : Seti fundraising via Bitcoin Utopia
Message board moderation

To post messages, you must log in.

Previous · 1 · 2

AuthorMessage
Hans Dorn
Volunteer developer
Volunteer tester
Avatar

Send message
Joined: 3 Apr 99
Posts: 2262
Credit: 26,448,570
RAC: 0
Germany
Message 1604343 - Posted: 23 Nov 2014, 1:40:23 UTC - in response to Message 1602241.  
Last modified: 23 Nov 2014, 1:40:47 UTC


Guess I'll set up another account to contain the hyperinflated bitcoin credits, though...


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.
ID: 1604343 · Report as offensive
Dad
Volunteer tester

Send message
Joined: 21 May 99
Posts: 44
Credit: 35,266,844
RAC: 10
United States
Message 1604875 - Posted: 24 Nov 2014, 12:11:06 UTC

Does anyone know of a conversion from wu to bitcoin to dollars to Seti?
ID: 1604875 · Report as offensive
Profile HAL9000
Volunteer tester
Avatar

Send message
Joined: 11 Sep 99
Posts: 6534
Credit: 196,805,888
RAC: 57
United States
Message 1604966 - Posted: 24 Nov 2014, 19:23:46 UTC - in response to Message 1604875.  

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[
ID: 1604966 · Report as offensive
Josef W. Segur
Volunteer developer
Volunteer tester

Send message
Joined: 30 Oct 99
Posts: 4504
Credit: 1,414,761
RAC: 0
United States
Message 1605034 - Posted: 24 Nov 2014, 23:14:54 UTC - in response to Message 1604875.  

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
ID: 1605034 · Report as offensive
Profile Jeff Buck Crowdfunding Project Donor*Special Project $75 donorSpecial Project $250 donor
Volunteer tester

Send message
Joined: 11 Feb 00
Posts: 1441
Credit: 148,764,870
RAC: 0
United States
Message 1605091 - Posted: 25 Nov 2014, 2:05:16 UTC - in response to Message 1604875.  

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.

If you have a 1 GH/s bitcoin miner and you are running it 24/7, you are mining about 0.00038 bitcoins a month. That's about 0.14 US dollars a month.

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. ;^)
ID: 1605091 · Report as offensive
Profile betreger Project Donor
Avatar

Send message
Joined: 29 Jun 99
Posts: 11360
Credit: 29,581,041
RAC: 66
United States
Message 1605103 - Posted: 25 Nov 2014, 2:52:32 UTC

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
ID: 1605103 · Report as offensive
Profile HAL9000
Volunteer tester
Avatar

Send message
Joined: 11 Sep 99
Posts: 6534
Credit: 196,805,888
RAC: 57
United States
Message 1605425 - Posted: 25 Nov 2014, 22:44:00 UTC - in response to Message 1605091.  

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.

If you have a 1 GH/s bitcoin miner and you are running it 24/7, you are mining about 0.00038 bitcoins a month. That's about 0.14 US dollars a month.

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. ;^)

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[
ID: 1605425 · Report as offensive
Profile Jeff Buck Crowdfunding Project Donor*Special Project $75 donorSpecial Project $250 donor
Volunteer tester

Send message
Joined: 11 Feb 00
Posts: 1441
Credit: 148,764,870
RAC: 0
United States
Message 1605445 - Posted: 25 Nov 2014, 23:56:34 UTC - in response to Message 1605425.  

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! ;^)
ID: 1605445 · Report as offensive
Profile HAL9000
Volunteer tester
Avatar

Send message
Joined: 11 Sep 99
Posts: 6534
Credit: 196,805,888
RAC: 57
United States
Message 1605461 - Posted: 26 Nov 2014, 0:46:41 UTC - in response to Message 1605445.  

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! ;^)

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[
ID: 1605461 · Report as offensive
Profile Blurf
Volunteer tester

Send message
Joined: 2 Sep 06
Posts: 8962
Credit: 12,678,685
RAC: 0
United States
Message 1607031 - Posted: 29 Nov 2014, 21:32:03 UTC

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


ID: 1607031 · Report as offensive
Hans Dorn
Volunteer developer
Volunteer tester
Avatar

Send message
Joined: 3 Apr 99
Posts: 2262
Credit: 26,448,570
RAC: 0
Germany
Message 1607130 - Posted: 30 Nov 2014, 4:00:43 UTC

Awesome.

Guess there will be an extension pretty soon.
ID: 1607130 · Report as offensive
Profile HAL9000
Volunteer tester
Avatar

Send message
Joined: 11 Sep 99
Posts: 6534
Credit: 196,805,888
RAC: 57
United States
Message 1607138 - Posted: 30 Nov 2014, 5:18:43 UTC - in response to Message 1607130.  

Awesome.

Guess there will be an extension pretty soon.

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[
ID: 1607138 · Report as offensive
Profile HAL9000
Volunteer tester
Avatar

Send message
Joined: 11 Sep 99
Posts: 6534
Credit: 196,805,888
RAC: 57
United States
Message 1642766 - Posted: 16 Feb 2015, 7:34:25 UTC

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[
ID: 1642766 · Report as offensive
Profile Andrew Hughes
Avatar

Send message
Joined: 11 Jan 15
Posts: 11
Credit: 127,905
RAC: 0
United States
Message 1642976 - Posted: 16 Feb 2015, 19:28:52 UTC

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)
ID: 1642976 · Report as offensive
Previous · 1 · 2

Message boards : Number crunching : Seti fundraising via Bitcoin Utopia


 
©2024 University of California
 
SETI@home and Astropulse are funded by grants from the National Science Foundation, NASA, and donations from SETI@home volunteers. AstroPulse is funded in part by the NSF through grant AST-0307956.