Topic: [Just starting noob. Not retarded] Better off on my own? (Read 1595 times)
Are you for real?
._.
Thanks, man!
I never really expected to make an insane amount, but I was told the same thing about GPU mining being dead two years ago when I briefly looked into it and found my FX 5200 wouldn't do anything.
I am not sure how pools are divided. If its divided based on time spent mining, and not just a way to be steadily paid the same amount you would make solo mining, it could be exploitable. Mine 24/7 at 400KHash and get paid the same as everyone else....
Oh, OK! You see, the pool money is not divided based on time spent mining, otherwise people would have to run a bajillion of miners on a single PC to have a chance of getting anything. 
The pool earnings are distributed based on the number of solved "shares", where "share" is just a block with reduced difficulty. Most of the shares are useless to the pool because they do not solve the block. However, they are used to demonstrate the effort spent so that when the winning share is found, the winnings can be distributed fairly.
Break even?
With power costs, I'd make $35 a month, and that's assuming my computer is at it's full 518w draw (Which it wouldn't be. It'd be closer to 320w).
IF I wanted to, it could buy a second 7970 GHz (At current price) in less than eight months. But, considering I'd probably get a PhysX card instead, that would certainly help with funding Steam games.
With power costs, I'd make $35 a month, and that's assuming my computer is at it's full 518w draw (Which it wouldn't be. It'd be closer to 320w).
IF I wanted to, it could buy a second 7970 GHz (At current price) in less than eight months. But, considering I'd probably get a PhysX card instead, that would certainly help with funding Steam games.
Oh, if I had a nickel for every time a newbie calculated profit per month based on the current difficulty and projected earnings for the next x months.
Unfortunately for GPU miners, (with the exception of 2 weeks ago) the difficulty has been increasing approximately ~8-10% every ~12 days for the last several months due to more FPGA hardware coming online. Your calculations assume no new power will be added to the network - this won't be true even without ASICs, which are expected to ship within the next month. When ASICs mining truly begins difficulty will increase incredibly quickly and GPU mining won't even be worth the wear on your equipment.
If you want to buy a card for gaming, go for it - just don't expect to break even. It's not going to happen.
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I am not sure how pools are divided. If its divided based on time spent mining, and not just a way to be steadily paid the same amount you would make solo mining, it could be exploitable. Mine 24/7 at 400KHash and get paid the same as everyone else....
I am not sure how pools are divided. If its divided based on time spent mining, and not just a way to be steadily paid the same amount you would make solo mining, it could be exploitable. Mine 24/7 at 400KHash and get paid the same as everyone else....
Given that people are dicks and would just leave an old Pen4 running the mining on the CPU and taking a full share of the coins
What 
What full share are you talking about? Pool or no pool, CPU mining barely get you anything at all, lol.
Btw, you have your bitcoin address handy?
Thanks for the whitelist, and yea, assuming it's the one entry in the address book.
If not, then I'm set to send my coins to some other bloke. xD
The twenty computers in the shop are owned equally by me and two other friends who have a sort of join repair service, and sometimes clients decide it's not worth repairing.
The one at school might lack the cooling to run it on, but the teacher would be more interested in how it works than anything. And I've only done just enough Black Hat activities to be a better White Hat.
Or light gray.
No worries, I won't be amassing an army of BTC slaves.
Heh, I won't
Paste your address here then, you never know when someone decides to give you a hand with your projects
Btw, you have your bitcoin address handy?
Thanks for the whitelist, and yea, assuming it's the one entry in the address book.
If not, then I'm set to send my coins to some other bloke. xD
The twenty computers in the shop are owned equally by me and two other friends who have a sort of join repair service, and sometimes clients decide it's not worth repairing.
The one at school might lack the cooling to run it on, but the teacher would be more interested in how it works than anything. And I've only done just enough Black Hat activities to be a better White Hat.
Or light gray.
No worries, I won't be amassing an army of BTC slaves.
I also just found out I can play Fallout New Vegas at max graphics and several HD retextures at 55fps while mining.... :|
I think it'll be more than 18 hours / day if I can still use the GPU. I might also hijack my computer at the community college to mine 24/7.
I think it'll be more than 18 hours / day if I can still use the GPU. I might also hijack my computer at the community college to mine 24/7.
Nice to hear that, but always make sure you ask for permission before using anyone else's computer for mining bitcoins
Consider yourself whitelisted, so now you can use the forum like every established member around here.
Btw, you have your bitcoin address handy?
Research litecoin, that is where you are going to want to point your rig when ASICs roll in to town.
At this point it is hard to earn money mining. Although many are anticipating the release of ASICs, I have my doubts they'll see the light of day for at least a year (if not more).
Really? What information do you have to back this up, pyramining, will have an ASIC within the next 2-3 months. Remember BFL doesn't make the only ASIC in town. Check your facts.
See that's just the problem, there is a lack of factual information, just lots of claims (ever heard of vaporware?). There are several "businesses" that have all claimed they are coming out with an ASIC, but have yet to provide any solid evidence. People are dumping their btc into these preorders with no guarantee they are going to get anything.
At this point it is hard to earn money mining. Although many are anticipating the release of ASICs, I have my doubts they'll see the light of day for at least a year (if not more).
Really? What information do you have to back this up, pyramining, will have an ASIC within the next 2-3 months. Remember BFL doesn't make the only ASIC in town. Check your facts.
At this point it is hard to earn money mining. Although many are anticipating the release of ASICs, I have my doubts they'll see the light of day for at least a year (if not more). That said, it doesn't hurt to just set up a miner to give you some 'trickle-in' BTC, just don't expect to make a ton of money.
Also, be really, really careful with your wallet. Your wallet is golden, store it safely, and securely, and as much as possible, offline.
Also, be really, really careful with your wallet. Your wallet is golden, store it safely, and securely, and as much as possible, offline.
I also just found out I can play Fallout New Vegas at max graphics and several HD retextures at 55fps while mining.... :|
I think it'll be more than 18 hours / day if I can still use the GPU. I might also hijack my computer at the community college to mine 24/7.
I think it'll be more than 18 hours / day if I can still use the GPU. I might also hijack my computer at the community college to mine 24/7.
As I understood from what he is saying he is actually not buying anything and just wants to mine with his pc that he already uses for gaming.
He could mine with it in a pool for a while before it is not profitable anymore.
He could mine with it in a pool for a while before it is not profitable anymore.
Even pool mining is dead for GPUs unless he is buying a game for like $1 he aint going to make much, like I said before or maybe I was speaking another language. I feel like no one wants to admit that mining is for the big dogs now, but it is sorry your late get in line.
I perfectly understand what you are saying, but what I am trying to say it didn't happen yet.
He could do it for a little while, what if even a week if it makes him happy to make even $2.
If someone wants to try, they should. Of course it would depends on the electricity costs too.
I don't know how torrent seeding shows you don't leech LOL your downloading copyrighted stuff obviously right there your leeching off of someone else's hard work for free. Also when it halves and even now you will not make any pocket money, you wouldn't even break even. Save your money buy a $13k asic machine and then you be making pocket change.
Break even?
With power costs, I'd make $35 a month, and that's assuming my computer is at it's full 518w draw (Which it wouldn't be. It'd be closer to 320w).
IF I wanted to, it could buy a second 7970 GHz (At current price) in less than eight months. But, considering I'd probably get a PhysX card instead, that would certainly help with funding Steam games.
More money in real life to put towards gas and shit.
Oh, and I don't pay for power, so I'd be getting closer to $70 per month.
I could also, if I really wanted, mine on Ubuntu on a 2.5" laptop HDD (Or buy an 8gb SSD on ebay for $20) and unplug all other disks and underclock my CPU to 2.5GHz and lower power draw to around 280-300w.
Late or no, I'd be making a profit, no matter how you look at it.
I also have two old Pentium 4's I can set up to mine off the CPU in a pool. All I need for them is a wNIC. If the pool is based off of time spent mining, and not how much you contribute, that'd be a great deal for me. In addition to the two I own, I have access to another thirty or so (Probably twenty working) I could do the same thing on, and that's without doing Black Hat mining, which I know is popular among RAT admins (Infect my school. Every computer running a useless contribution, all forwarding the coins to me?)
Even pool mining is dead for GPUs unless he is buying a game for like $1 he aint going to make much, like I said before or maybe I was speaking another language. I feel like no one wants to admit that mining is for the big dogs now, but it is sorry your late get in line.
My 7970 even OC'ed + the 6850 and my work APU (which does help, albeit little, since I don't pay the electric at work) got me about $50 in bitcoin more than I paid in electric for my rig. It's certainly dying, but if you stick it out to the end, you'll still pocket a good number of coins.
Being a bit of a gamer myself, I run my 7970 full blast 24/7, and as far as I can tell, at least until December, the 7970 makes a bit of profit, but in the meanwhile I can run recent games triple display (but turn off the displays in the daytime, >_>) Even if it isn't going to be effecient mining in the long haul, at least for the next few months I can stash a decent amount of bitcoin.
Mind, power in my region is about the cheapest in the nation as well, so I do profit a good $60/mo atm with a 6850 and 7970 together pushing out 900 MH, plus an extra about 70MH when I am at work, on free power, so my situation might be biased.
At the same time, mining for the hell of it is nice even while mining elsewhere in MC during boring workdays. ^^
As for the pool: yeah, use one. Unless you are lucky as hell (and don't expect to be even average lucky) you won't make a bitcent for another few years, and that's only if the ASICs don't make 1GH payout about .01/day, which will probably be likely within the next half year.
I'm actually holding my coin, so I'm going to run my 7970 and my 6850 and my AMD A8 APU work computer until the ASICs make GPU mining go bust. If you want in before that, a good pool is the way to go.
Mind, power in my region is about the cheapest in the nation as well, so I do profit a good $60/mo atm with a 6850 and 7970 together pushing out 900 MH, plus an extra about 70MH when I am at work, on free power, so my situation might be biased.
At the same time, mining for the hell of it is nice even while mining elsewhere in MC during boring workdays. ^^
As for the pool: yeah, use one. Unless you are lucky as hell (and don't expect to be even average lucky) you won't make a bitcent for another few years, and that's only if the ASICs don't make 1GH payout about .01/day, which will probably be likely within the next half year.
I'm actually holding my coin, so I'm going to run my 7970 and my 6850 and my AMD A8 APU work computer until the ASICs make GPU mining go bust. If you want in before that, a good pool is the way to go.
As I understood from what he is saying he is actually not buying anything and just wants to mine with his pc that he already uses for gaming.
He could mine with it in a pool for a while before it is not profitable anymore.
He could mine with it in a pool for a while before it is not profitable anymore.
Even pool mining is dead for GPUs unless he is buying a game for like $1 he aint going to make much, like I said before or maybe I was speaking another language. I feel like no one wants to admit that mining is for the big dogs now, but it is sorry your late get in line.
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