Topic: Just need directions and a little help (Read 2076 times)

But thats not good isnt it. If the ROI is not in a few months then you are basically getting back your own investment, and not making profit for months.

If you were to get a 50,000$ loan to buy ASICS, then you would need years to ROI that, with a lot of risk too, and by then the profits would really shrink as new and more efficient ones would come out for lower prices...

The only ones that make money are the bank you got the loan from and the ASIC manufacturer.

Yea but many people wanna earn money from bitcoin, they dont want to use bitcoin as an investment, but as a method to earn money online.

The op just wants to make a little bit of money, but he should mine altcoins instead, more money there...

If you are really serious about bitcoin then just earn your money to get your supply. If you are into mining as a hobby and to learn how it all work, just search for Pos or cpu coins or newly launched pow coins (when mining difficulty is still low), join the mining pool and play with the settings to try it out as a learning experience.

Yes we get paid from signature campaigns, thats our luck, but that doesnt mean that we should turn the forum into a chaotic spam farm.

This isn't completely accurate - you can mine and MAKE money, it just takes a lot of money to get started and a lot of time. It's the same has trying to pan for gold on your own and make a living at it...it just isn't worth it anymore. You can find gold but not a lot. And it's that low ROI that keeps people from doing with with their PCs. Instead they use mining machines, specifically configured to conduct the processing needed to complete the algorithms.


No shit, it's like these people don't bother to read anything on the forum to learn before they ask questions. But I guess their questions are our personal gain...

Man i`m really bored of newbies asking always the same question. And no disrespect to you but it is annoying.

Bitcoin mining profitability is over with home PC's. You can only mine profitably if you got 10,000-20,000$ investment in ASICS and cheap electricity.

The bitcoin.org should really be updated about mining, because it's very misleading as 100 newbies ask the same question.

Even with alt coins, the volatility can be quite high. With the pump and dump schemes, it may result in a negative profit as they are likely to crash. Furthermore, the CPU is weak and the GPU is actually a rebrand. Buying an ASIC would yield a more stable profit if the electricity is low.

With you PC it would not be feasible to mine Bitcoin. However, you can mine some altcoins with it and then trade them for Bitcoin. I guess you could make about .0007BTC weekly mining altcoins. You can use both your CPU and your GPU to mine. But be advised... it will not be profitable simply because you will spend more in electricity than you will get in return. It is workable if you have free electricity.

This is quite misleading. PC can take lots of power and also have higher hashrates when talking about mining CPU only altcoins. VPS or RDPs are usually operating on a shared machine. More than ten people are sharing the machine hence the performance would be low. Of course, the hosting provider usually restricts mining so as to not degrade the hardware.

pc is not a good option for mining because pc take lot of power you earn very less if you use pc you lose your money there is no benifit of using pc for mining if you real want mining purchase a vps or a rdp with high specifcation vps or rdp is a best option for mining because these are cheap and you can earn lot of bitcoin from vps and rdp

Woah there mate! CPU and GPU mining had become obsolete since last 2 years. Though your pc specs is pretty decent in terms of gaming, in the mining scene it would be peanuts compared to ASICs and other dedicated mining equipment. My advice if you want to earn from mining, try mining other altcoins and change to btc instead. Mining btc with a pc is not feasible as it will only cost you more money and might decrease the lifetime of your hardware.

if you use a right minner software, like the modified version of Wolfo, i'm sure you can get more hash per sec, but it would be probably, not true for sha256, because no one is bothering anymore with it

there is still some little pfoti to be made with other algo and gpu, maybe with the new readon series x390 etc...

https://en.bitcoin.it/wiki/Mining_hardware_comparison
http://www.coinwarz.com/cryptocurrency

Like guys above me said, you need a asic(mining hardware) to mining bitcoin and of course with a lot hash, cheap electric bills or even free electric bills.

As of right now from what I gathered(I just asked a question like this in the mining forums)  It is not very easy to profit from mining.  You need cheap electricity and most countries don't have a viable option for this at the moment.  The ROI is very risky depending on the cost of your electricity + the raise in difficulty plus the cost of the mining gear.

Thanks.  I just quickly googled the hash rate of a R9 270X graphics card and didn't notice the fact that it was a litecoin site.  I've fixed my post.

Perhaps you meant 490 megahash per second. Even a CPU does 20 MH/s. I assume you got the number off the LTC mining hardware page, but SHA-256 mining is typically 1000 times faster than scrypt mining.

490 MH/s currently mines about 0.00014 BTC per month, currently worth about $0.03.

USB miners are more for learning.   They are not really miners for ROI as price per GHs is so high.    But you can run more then host machine's power, that is why they have powered hubs.

Biggest thing for OP is he needs to find out electricity costs.

At absolute best, I doubt you'd get more than 490 megahash per second with that card.

At current difficulty (59335351233.9), if you can get lucky enough to actually finish any shares before a block is solved, you *might* be able to earn 0.00013 BTC per month.  At an exchange rate of $230/BTC, that works out to about $0.0299 per month.

Of course, there is no guarantee that the difficulty will stay the same for the next century.  The difficulty is adjusted every 2 weeks so most likely you'll earn a lot less than that over time.

Meanwhile, the additional electricity that your computer will be using to run all that hashpower will probably cost you a lot more than that.

If the 500w PSU was actually pulling a full 500w continuously every second 24 hours a day for 30 days and doing nothing else other than bitcoin mining the whole time, then you would be using about 360 kilowatt hours per month.  If your electricity costs (including all taxes and fees) works out to about $0.11 per kilowatt hour, then generating that $0.0299 per month will cost you about $39.60 per month.

As for a USB ASIC miner (or any other ASIC), there are a lot of variables that go into figuring out how much you can make with mining.  You can control some of those variables, but some are completely out of your control. It will really depend on things like:

• How good of a miner you buy
• How much you spend on the miner
• How much your electricity costs per kilowatt hour (including all taxes and fees)
• How much additional cooling your equipment needs
• Which mining pool you choose to join
• How much maintenance your system needs
• How much the mining difficulty changes in the future
• What the bitcoin exchange rate is in the future

Edit:  Updated my estimate of hashes per second for the graphics card based on feedback from odolvlobo.

No. USB ASIC Miners are vastly inefficient as the USB port cannot supply too much power to it. If the host machine is a raspberry pi, it would still take more than the profit earned. I would recommend getting AntMiner S3 as it is quite popular or S7 if you don't want monstrous electrical bill.

my suggestion is dont think of mining bitcoin if you dont have enough capital to buy a miner to start with, if your choice is only your computer then just forget about bitcoin mining or you wont get any profit from it but if you really want to try mining you can mine altcoins that you think have its potential