Topic: Is mining worth it on my rig. (Read 1130 times)
The folks that jumped into bitcoin mining with both feet are selling bitcoins to help pay off their initial investment, so there are plenty to go around and the price is low. I took a moderate approach and built a gaming/mining system and buy bitcoins when they are cheap. If you believe in bitcoin, then keep mining and sell the bitcoins when you need the cash to pay bills and hold while the price is too low. It will go back up. Way up. Soon™
Thanks for the advice. Guess ill just keep gaming. Wow the price was above 5$ when i made this thread. Its crazy how the price is falling. I remember people saying "Lets push bitcoin to 100$ by December Yeeeeaaaaaaa". Now its like lets get it above 6$ before its to late.
The only way either of those will come true is if we get more buisnesses(online and physical) accepting bitcoins and if we can't get the ones that are there alaredy to take them we should damn well build our own. as far as your rig a 5870 should have similar performance if you can find one resonable cheap and you can recover a lot of that cost by selling the 560TI
Thanks for the advice. Guess ill just keep gaming. Wow the price was above 5$ when i made this thread. Its crazy how the price is falling. I remember people saying "Lets push bitcoin to 100$ by December Yeeeeaaaaaaa". Now its like lets get it above 6$ before its to late.
If you pay for electricity at all mining is a pretty bad business right now.
The profit level is meagre at best
Unless you save the majority of your mined coins for later in anticipation of price hikes.
Most miners seem to be doing that, since the difficulty isn't dropping in linear fashion with the price.
Network hashing power is the same as it was at $15 per coin, diff. went down only 50k in the last month
The profit level is meagre at best
Unless you save the majority of your mined coins for later in anticipation of price hikes.
Most miners seem to be doing that, since the difficulty isn't dropping in linear fashion with the price.
Network hashing power is the same as it was at $15 per coin, diff. went down only 50k in the last month
In short, only if your electricity is free.
Back of the napkin says:
At ~75MH/s and current difficulty you'll earn about 0.05 bitcoins / 24 hours, or about 25 days for a bitcoin.
At the current exchange rate of ~$5.80 / BTC you'll make about $6 / month.
If you pay for electricity, your rig is probably using around that without mining. I can't imagine how much your rig would use running that GPU at 98%+ constantly, but a lot more than $6 worth I'd wager.
If you don't mind inflating your electric bill a bit to contribute to the network and have some fun, by all means, but it's far from profitable if that's what you're after.
Sorry to deflate the balloon
Back of the napkin says:
At ~75MH/s and current difficulty you'll earn about 0.05 bitcoins / 24 hours, or about 25 days for a bitcoin.
At the current exchange rate of ~$5.80 / BTC you'll make about $6 / month.
If you pay for electricity, your rig is probably using around that without mining. I can't imagine how much your rig would use running that GPU at 98%+ constantly, but a lot more than $6 worth I'd wager.
If you don't mind inflating your electric bill a bit to contribute to the network and have some fun, by all means, but it's far from profitable if that's what you're after.
Sorry to deflate the balloon
+1
In short, only if your electricity is free.
Back of the napkin says:
At ~75MH/s and current difficulty you'll earn about 0.05 bitcoins / 24 hours, or about 25 days for a bitcoin.
At the current exchange rate of ~$5.80 / BTC you'll make about $6 / month.
If you pay for electricity, your rig is probably using around that without mining. I can't imagine how much your rig would use running that GPU at 98%+ constantly, but a lot more than $6 worth I'd wager.
If you don't mind inflating your electric bill a bit to contribute to the network and have some fun, by all means, but it's far from profitable if that's what you're after.
Sorry to deflate the balloon
Back of the napkin says:
At ~75MH/s and current difficulty you'll earn about 0.05 bitcoins / 24 hours, or about 25 days for a bitcoin.
At the current exchange rate of ~$5.80 / BTC you'll make about $6 / month.
If you pay for electricity, your rig is probably using around that without mining. I can't imagine how much your rig would use running that GPU at 98%+ constantly, but a lot more than $6 worth I'd wager.
If you don't mind inflating your electric bill a bit to contribute to the network and have some fun, by all means, but it's far from profitable if that's what you're after.
Sorry to deflate the balloon
Unfortunatly as good as Nvidia graphics is for gaming the arcitecture ati/amd uses on their radeon cards is better for mining, if you were to replace that card with a radeon 58xx or 69xx you would have a decent gaming system and a good miner however.
According to the wiki hardware charts here,
https://en.bitcoin.it/wiki/Mining_hardware_comparison#Nvidia
You can expect about 70 MH/s. Check how much power you draw from your outlet and either subtract that at your current electric rate.
70 MH/s at todays exchange rate is about 0.0401*$6 = 24 cents/day.
Typical power use might be 150W for your system at $0.10/kWh, or 36 cents/day.
Doesn't look like it makes much sense.
https://en.bitcoin.it/wiki/Mining_hardware_comparison#Nvidia
You can expect about 70 MH/s. Check how much power you draw from your outlet and either subtract that at your current electric rate.
70 MH/s at todays exchange rate is about 0.0401*$6 = 24 cents/day.
Typical power use might be 150W for your system at $0.10/kWh, or 36 cents/day.
Doesn't look like it makes much sense.
I just wanted know if mining would be profitable on my custom made gaming rig.
amd 4 core processor (current gen)
gtx 560 ti
vertex 2 solid state drive
8gs of 1600mhz ram
high end gaming motherboard
amd 4 core processor (current gen)
gtx 560 ti
vertex 2 solid state drive
8gs of 1600mhz ram
high end gaming motherboard
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