Category Archives: Bitcoin

Building a ubuntu mining rig with 6 x GTX 1060 6GB GPUs | Set up a eth mining rig

Iv been getting involved in the Bitcoin craze lately. I invested a little cash just to learn how the system works.

So… I thought Id roll the dice with a Bitcoin mining rig. My budget was around $3000, which I got close to.

Here is a detailed log of how I achieved this and what results I received.

Build materials and links.

Total: 3229.48

When clicking on the above links, please keep in mind that all things mining will change in price because of demand. Especially GPUs.

Also, I could have cut costs on things like CPU, Hardisk and power supply but I was rushing to build the rig and didn’t care too much in the end.

In the space of a month the GPUs that I purchased went up by around $50 each, the demand was crazy when the price of bitcoin went up. They remain higher at the moment even though bitcoin has halved in value.

Also another problem was that most good/cheap mining boards use the LGA1150 CPU socket which is no longer available from stores, I had to purchase this CPU second hand.

I had to wait several weeks before all the parts come in, some were delayed and some dodgy ebay stores didnt send them at all.

Putting the rig together was alot of fun, i have not messed around with hardware in a very long time.

Once all the parts came together I fired her up…. PROBLEMO!!!

The power supply was dead, it would start for a few seconds and them die. I purchased another with arrived 3 days later.

Once the new power supply arrived I started the Ubuntu installation. A few were problematic. I settled of Ubuntu 16.04 because it was stable and a lot of other miners were using this version.

Once the base OS was installed and running, we need to setup the NVIDIA drivers. I installed a number of different versions and found the latest version gives the best results as of this time. Version and location below.

Installation instructions for these GPUs.

This concludes the GPU drivers installation.

Now lets install the mining software.

Now lets start the mining!

 

 

BOOM Your Mining!

 

 

Useful Links Below.

https://bitcointalk.org/index.php?topic=1712831.0

http://www.tomshardware.com/answers/id-3335591/max-safe-overclock-evga-gtx-1060-6gb.html

https://www.cryptocompare.com/mining/calculator

Overclocking multiple Nvidia graphics card on Linux

https://github.com/ethereum-mining/ethminer/issues/119

New cryptocurrency is bound to Skyrocket – TRON | jack ma, justin sun, tron, cryptocurrency, bitcoin, bitcoin rick

I have been investigating cryptocurrencies and alt coins, after looking at a large number of them one stood out… Tron.

I’m not an expert by any means but after doing some investigation into it, it looks really promising.

Tron’s creator is a man named Justin Sun (@justinsuntron), he is a very successful Chinese entrepreneur.

Tron to date has made some very big moves in China, the team has some very successful individuals working with them who own or influence huge markets in China.

One piece of information is making me particularly attracted to this coin, Jack Ma.

Mr Ma is the founder of Alibaba which is an international powerhouse coming from China, the link?

Well Jack Ma has hand picked Justin to study at a University he is the chairman of and was awarded prizes for his study’s.

Also Tron’s offices have been moved a stones through from Alibabas offices in China.

A possible relationship with Alibaba would see the price of Tron skyrocketing.

Please do your own research, could end up being a bomb. It could also end up making you bitcoin rich!

The particulars have been left out of this article intentionally, Im not an a financial expert and I want you to do your own research so that you can make educated decisions.  I just wanted to bring your attention to it.

Here are some useful links to start your research.

 

 

How to buy Bitcoins in Australia | how to trade in bitcoin in australia

I recently started playing around with Bitcoin, being new to it all I had no idea where to start. 

First questions which pop up are

  • Where to buy
  • How to Sell
  • Locations
  • Phone apps
  • Wallets
  • Backup your coins

Just to list a few. So I thought Id document the process which I used to get started.

I bought my coins from the location news agent. The www.bitcoin.com.au site allows you to buy and sell bitcoins from many different locations. It has a map which lists all the sites.

So to start with you need a phone app (thats the easiest option), I used the stantard bitcoin app located on the Android app store. The app is also refereed to as a wallet. Lose your wallet, lose your money too!

The application itself has several levels of security, some are standard and some need to be setup.

  1. You can set a password or pattern for accessing the application while your phone is unlocked. This helps for when your phone is stolen while unlocked or when your kids get it and start playing around with your applications.
  2. Pin for sending funds. This complements the first option. Also stops you sending your coins by accident because you need to go to the extra effort of entering a different pin.
  3. You wallet is on your phone, so if you phone gets lost your wallet is also gone. So you need to backup your wallet on a regular basis. When you backup your wallet you also password encrypt it.

After taking all these three options into consideration you realise your money is much safer than your physical cash in your physical wallet. Just dont forget your passwords!

Also I should mention what there are two types of wallets, online and offline. The above mention method is offline, this means that all the coins a located on your device. No one online can take them nor do they have power of when and where you use them. The online method is when your wallet is on a server and you simply use it, as a managed service. The benefit to this is security that if your device gets stolen your coins are safe, the disadvantage is that if the site/server gets hack, so do your coins.

When you hear about millions in stolen coins online, thats what they mean. You can go one step further and transfer your coins to an wallet which you store on a usb stick and sits in your safe, this is a completely offline method and considered to be the safest.

Next is our buy method. I purchased my coins from www.bitcoin.com.au, its reputable and safe. One thing to take into consideration when buying bitcoins is the fees and charges, they are insane. I purchased $1000AUD and when it finally arrived in my wallet it was around $800AUD. When transferring funds there is also the network transfer fee, which is a percentage of your transfer amount.

So once your coins arrive in your wallet, BACKUP!!! Be careful, once you run the backup function on the application it will ask you where you want to copy the backup. Alot of people will email it to themselves or copy it to your dropbox account. Im not going to judge, but remember security is only as good as your weakest link. If a hacker gets your email details or dropbox details they also have your money. My recommendation would be to copy it to a memory stick which you keep in a safe place at home. Its the safest option.

On your bitcoin application there is a section called “Your Address”, there are a number of hashed codes lined up. They are the codes you may give to people to send you coins. They are completely harmless, no one can do anything with them other than send you coins. These are the codes you see posted on some sites when requesting donations.

I use an application called CoinCap, it allows you to see the exchange rates for most of the bitcoin currencies. Also displays the trends over periods like days, weeks and years which makes you cry a little thinking about what life would be like if you bought at the beginning. 

 I found that putting all your money into one currency was a little boring, you can exchange your bitcoins for other currencies like Ethereum or Monero. You make the exchange using an app called Shapeshift.

I did find that once one of the currenecies stopped growing, another would go through the roof. If you quick enough you can make some cash. The other days Bitcoin stopped, so I put it into Ethereum which continued to grow. But you need to take the transfer fees into account.

You need to keep in mind that there are additional processing fees and that Shapeshift can takes Minutes, Hours and even days to process your requests.

Also need to understand that you may need a different wallet based on the currency your converting to. So you will need to visit your app store and search for the currency your trying to trade with and download the wallet.

Shapeshift will then issue you a bitcoin address you need to deposit the fund into and a wallet address of the intended currency you wish to buy into.

As far as converting Bitcoins to cash, I have not done that yet. But the bitcoin.com.au site has the option available and allows you to specify your BSB and Account number. So the fund will be put back into your banking account. Im not sure about the fee which will be charged or the time it will take. Id assume it would take a few days.