Bitcoin Mining "Megathread"

[Rub]

I think anyone who has real world experience, a steady income and commitments will realise that running your GPU all day to make $50 a week is a complete waste of time. Whatever your arguments are, if you had to pay the power and had more commitments than your next clan battle on World of Warcraft, I promise you wouldn't do this.

I'm with Bisjac on this, he isn't being a jerk at all.

[Ad Bot]

[Bisjac]

$25 a day, running an ASIC 4.5 GHash/s computer that you can buy for $150, without having to sacrifice your gaming computer. Just saying.

thats easily a lie.
because if it was really that easy, the price of coins couldnt sustain for more then a day. everyone on earth would be doing it.
the fact that a full 1.0 bitcoin is as valuable as it is, is because of the extreme effort it takes.

[ShadowsfeaR]

I think anyone who has real world experience, a steady income and commitments will realise that running your GPU all day to make $50 a week is a complete waste of time. Whatever your arguments are, if you had to pay the power and had more commitments than your next clan battle on World of Warcraft, I promise you wouldn't do this.

I'm with Bisjac on this, he isn't being a jerk at all.

Not everyone here lives on their own. You forget that this forum is comprised of mostly teens. Unless your parents are struggling with the power bill to begin with, the repercussions are low and turnout for this is good. As of right now, it's easy cash. Down the road, it will be a different story, but why not just start now and get the benefits while they exist?

[Daedalus]

thats easily a lie.
because if it was really that easy, the price of coins couldnt sustain for more then a day. everyone on earth would be doing it.
the fact that a full 1.0 bitcoin is as valuable as it is, is because of the extreme effort it takes.

It's not a lie, it's just that neither of you are looking at the facts.
That price is 100% accurate. You WILL make 25 a day running it. However, it won't be 25 for very long.
If you're one of the lucky ones who got an ASIC rig before their orders were flooded, you're going to be making a lot of money in the next couple of months.

[SiliconCactus]

thats easily a lie.
because if it was really that easy, the price of coins couldnt sustain for more then a day. everyone on earth would be doing it.
the fact that a full 1.0 bitcoin is as valuable as it is, is because of the extreme effort it takes.

http://products.butterflylabs.com/homepage/4-5gh-bitcoin-miner.html
http://www.alloscomp.com/bitcoin/calculator
$700 a month, minus the initial $150 to buy the hardware. The power consumption is extremely low, too. 4.5w is less than a light bulb.

[Daedalus]

Very few people have ASICs right now. The people who do are making a LOT of money.
Take a look at this.

[Tyler66]

Looks like if you ordered an ASIC miner at this time, you'd be waiting for around 4 to 6 months. Maybe even more.
I'm debating if I should prepare to wait for that length of time or start building a rig. Chances are, the difficulty will be too high by the time I get it.

Then again, the rig would be worth nothing in a few months anyway.

[Kearn]

The power consumption is extremely low, too. 4.5w is less than a light bulb.

there is literally no way you're using 4.5 watts for that, computers do not use less energy than a lightbulb the powersupply for a small computer is 300 watts

[Tyler66]

there is literally no way you're using 4.5 watts for that, computers do not use less energy than a lightbulb the powersupply for a small computer is 300 watts

He meant how much energy to power the little miner. Not the entire loving computer.

[SiliconCactus]

there is literally no way you're using 4.5 watts for that, computers do not use less energy than a lightbulb the powersupply for a small computer is 300 watts

you don't understand ASIC bitcoin mining computers do you

[masterockets]

If solo mining is useless, will you make a pool?

[Tyler66]

If solo mining is useless, will you make a pool?

You don't make one. You join one.
You can make a pool if you're willing to go through the trouble of doing so.

[Daedalus]

Go join a big one like Slush's pool. You'll make the most there.

[Mr.jacksaunt]

So I'm semi confused here. I'm using bitminer and I'm using both integrated and dedicated GPUs (I have an AMD integrated so it's good) and I'm getting about 110 MHPS, is this good, where does my wallet come in, and how do I get cash from this?

[Kearn]

you don't understand ASIC bitcoin mining computers do you

He meant how much energy to power the little miner. Not the entire loving computer.

an entirely irrational point, you're not solely going to use 4.5 watts