Topic: like to get into mining. need help. (Read 1489 times)

yea i just wish i would've did this years back lol   Maybe in the future i will buy a mining machine that does 500ghs or 1th  can usely find those for 400-1200 on ebay which isn't to bad sense it does bring in couple hundred $$$ profit nothing to go crazy about tho but some extra money letting it do all the work lol

The good thing at least i learn a bit about it:)

You're not doing it wrong.  That's the truth of the matter.  There is no magic money making machine where you spend a few bucks and make a fortune.  It just doesn't work like that.  Unforunately, mining is pretty much an extremely competitive business where players are investing millions of dollars.  The days of mining blocks on your own with your computer are gone.  The days of plugging in a miner and having it make you a ton of profitable coins are gone.

I see im glad i came and ask first instead of wasteing my time and maybe killing my gpu lol  Thanks guys for explaining it to me:)


Now that jonny got me looking into the GAWminer Furys lol, If i get 1 or 2 of those will those net me some money?  Cause it seems like they ony use 40 to 50watts and do 1.3-1.4mhs which is nice for a small box lol .   And how do you even run them do you hook them up to a pc or do they run on there own?

Like i said on my first post im not looking into making alot of money but would like some that is worth it lol


also looking stuff up i found Redfury Bitcoin Miner USB ASIC 2.2-2.7GH/S In Hand   do they really do that much? thats on ebay for like 22$  are they better than the furys?


Hmm hate keep editing this But i guess it better than doing a post.  So by going by the Bitcoin Mining Calculator  at 2.7gh i be making 80cents a month?? lol  and with the fury 1.3mhashs around 39cents?  So pretty much i will need a good bit of them to make any profit?  this is alloscomp calc maybe im doing it wrong hopefully i am lol.


Thanks:)

Sadly as said a cpu/gpu bring in very small amounts.  Do math but for most they are dead.

GPU if you got big takes a lot of removing heat (depending on how hard cards are pushed).  But really to mine you need a asic these day's.  Do some math but asic and cheap electricity is best combination.

I should have specified that CPU and GPU mining of Bitcoin is dead.  As RodeoX posted, profitable Bitcoin mining is dedicated hardware setups with very cheap power costs.  By the way, nice picture

Litecoins, and other coins based on the scrypt algorithm are also now in the realm of ASICs.  Your 300-400MH/s GPUs won't cut it - you can pick up a 1.3MH/s Fury for less than $50 with power supply and cables.

Your only chance, if you do insist on using your CPU/GPU is to find some alt coin that uses an algorithm that is not yet ASIC and hope it takes off.  Otherwise, you'll need to buy a dedicated mining rig.

I really do wish I could be giving you better news, but that's the reality of things.

This is what a profitable bitcoin mine looks like now. The days of using your game PC are over. 

i don't want to use my cpu i already looked that up that cpu is useless for mining right now ,  but i want to use my gpu which does around 300 to 400mhashs 5870  Is that to slow too for bitcoin mining? i can add my 5850 in crossfire with it but yea if its not going to bring any money in than i just give up on mining bitcoins.   


I read up on litecoins and i setup that so far and got that mining, Will litecoins bring any profit?

The days of CPU mining BTC are long since over.  The only thing you're going to get is a huge electricity bill and potentially shorter life of your CPU because you're going to be running it at 100% constantly.

In general, yes you're heading in the right direction by downloading the core software, creating an account at a pool and creating an account at an exchange.  Now you just need to purchase a miner.  Your computer is worthless for mining.

You said you downloaded Bitcoin so Im guessing that's what your going to mine.

Well basically don't all you will do is wear out you're hardware and run up your electricity bill.

You might have a chance with an altcoin e.g. litecoin but I don't do this so cant help.

Hello i would like to get into mining because i keep my computer on 24/7 anyways so why not use it?

But i do need some help with it.  So far i downloaded the programs and got them up and running which is  bitcoin core wallet and it finally got downloaded fully which took a day or 2...   than i downloaded guiminer than i setup a account with bitcoincz aka slushs pool,  Than i made a account with coinbase.

Am i going in the right direction?   Now all i do is just click the start button on guiminer and leave the wallet open and let it mine?

Also my main pc specs are amd 1100t x6 six core oc 4ghzs  8gb of ram and a nvidia 570gtx which does around 140mhashs.  Now i know that is low sooo,  I setup my other custom built i have which the specs are close but has a 1090t x6 six core 8gb of ram and a 5870 which i herd does around 400 mhashs?  So i was thinking of setting that machine up instead.


Now im not looking into making alot of money doing this but would like to make some money with it. would be nice to lmake alot tho lol But yea just looking into making some cash.


But yea i figure i come here and ask the pros first before i click that button and mine lol

So about the money if i mine 24/7 for a month doing around 300 to 400mhashs how much you think i would make around?


One other question ,  I was thinking how do i even get paid, Do i get paid right to the local wallet meaning on my computer first, Or does it go right  to coinbase first than i transfer it to my wallet?  cause right now i made a new address in coinbase than i put that one in bitcoincz address box, So i guess when i would get paid they will send it to that address than it goes to coinbase than i can send it to my local wallet?


Thanks:)