Hi anyone use ATI 7970x3 for mining ? i know that asic is better but is imposible to buy , no anyone is delivery now.
Topic: Mining (Read 629 times)
The mining system is built on the principle that when miners get more efficient, it will become more difficult to mine. It induces a constant race for mining efficiency, which is in part what makes the system secure. In other words, you can only make money if you are more efficient than the average miner.
The efficiency race is at the point where it is hardly profitable to mine with a GPU. Even with an FPGA rig and the current BTC boom, it takes months to get ROI. Once ASICs start coming out, the FPGAs will be mostly obsolete. The fact that quite a lot of people steal electricity to mine, and that newcomers and hobbyists mine at a loss, makes mining even less profitable.
To sum up, mining is probably only profitable if you have early access to an ASIC, and/or equipment and electricity for "free". A better option is probably to invest in a mining contract or the BTC market itself, depending on your beliefs about the BTC economy.
The efficiency race is at the point where it is hardly profitable to mine with a GPU. Even with an FPGA rig and the current BTC boom, it takes months to get ROI. Once ASICs start coming out, the FPGAs will be mostly obsolete. The fact that quite a lot of people steal electricity to mine, and that newcomers and hobbyists mine at a loss, makes mining even less profitable.
To sum up, mining is probably only profitable if you have early access to an ASIC, and/or equipment and electricity for "free". A better option is probably to invest in a mining contract or the BTC market itself, depending on your beliefs about the BTC economy.
so this Ati 5830 is the easily available and not so expensive option for mining nowadays? thanks.
Prior to the recent run-up of prices, I think most people had concluded GPU-based mining was not profitable, unless you got free electricity. Are you in a dorm or other housing complex where electricity is free?
With the recent run-up of prices, I would suggest you search for a miner profitability calculator. I think there are several of them. One that I looked at allowed you to specify your cost of electricity, the value of bitcoins (US$), the cost of your hardware, and some measure of the rate at which mining difficulty is rising. Sorry I don't know the URL.
The big problem, of course, is that there are a few ASICs already mining, and the floodgates are bound to open sooner or later. Which will rise faster -- the value of bitcoins or the mining difficulty?
Stick an Ati 5830 in an old desktop and you'll be mining 260MH/s around BTC 0.8 per month for a £60/$100 investment. Use a mining pool that pays daily I recommend 50BTC but BitMinter is good too.
https://en.bitcoin.it/wiki/Mining_hardware_comparison
https://en.bitcoin.it/wiki/Mining_hardware_comparison
so this Ati 5830 is the easily available and not so expensive option for mining nowadays? thanks.
no i just watched you tube videos but i got 2 laptops going the one i mainly use is a dual core processer and i also got a dell im linking up right now to get on mining so 3 computer i will try and see waht i get in nest 48 hours let emm run
I am curious. You are about the 10th newbie that I have seen today that has just jumped directly into CPU mining and then complained about the amount of BTC they are getting.
Where did you learn about Bitcoin and Bitcoin mining. Is there some new article out there in the world suggesting people can get "easy money" using their computer or something like that?
Where did you learn about Bitcoin and Bitcoin mining. Is there some new article out there in the world suggesting people can get "easy money" using their computer or something like that?
Anybody got any sites for mining that is better then BitMinter with CPU been mining for 28 hours and haven't even accumulated .001 yet?
Any donations to this newb would be greatly appreciated doesn't have to be a lot anything helps thanks everybody for taking time to help me
1DJt3xs9cZqnZKmNcxbk1paVapizTjgWX8
Any donations to this newb would be greatly appreciated doesn't have to be a lot anything helps thanks everybody for taking time to help me
1DJt3xs9cZqnZKmNcxbk1paVapizTjgWX8
It is not the site, it is the hardware. You can't expect more than a few MH/s from a CPU.
To achieve 0.001BTC/day, you need to achieve at least 10MH/s.
If you have a quad core CPU, you can expect between 5-15MH/s without overclocking. So if you are in this for fun, just keep going. Posting your MH/s and the CPU model you are using would help us help you also. If you have a sufficient CPU and aren't getting the correct speed, we can help try to figure out the problem.
Stick an Ati 5830 in an old desktop and you'll be mining 260MH/s around BTC 0.8 per month for a £60/$100 investment. Use a mining pool that pays daily I recommend 50BTC but BitMinter is good too.
https://en.bitcoin.it/wiki/Mining_hardware_comparison
https://en.bitcoin.it/wiki/Mining_hardware_comparison
If you are more interested in mining very small-time, I would recommend this. Although not profitable now, this was my first dedicated setup about a year ago and is great fun.
Thanks for the tip i will do that.
1DJt3xs9cZqnZKmNcxbk1paVapizTjgWX8
1DJt3xs9cZqnZKmNcxbk1paVapizTjgWX8
Stick an Ati 5830 in an old desktop and you'll be mining 260MH/s around BTC 0.8 per month for a £60/$100 investment. Use a mining pool that pays daily I recommend 50BTC but BitMinter is good too.
https://en.bitcoin.it/wiki/Mining_hardware_comparison
https://en.bitcoin.it/wiki/Mining_hardware_comparison
so if i take a regular dell desktop kinda older but and upgrade it with some things that be worth mining than? cause right now i just been using my new laptop that i got but it slow on that mining thing
graphic card is just much more faster
forget about cpu mining
Anybody got any sites for mining that is better then BitMinter with CPU been mining for 28 hours and haven't even accumulated .001 yet?
Any donations to this newb would be greatly appreciated doesn't have to be a lot anything helps thanks everybody for taking time to help me
1DJt3xs9cZqnZKmNcxbk1paVapizTjgWX8
Any donations to this newb would be greatly appreciated doesn't have to be a lot anything helps thanks everybody for taking time to help me
1DJt3xs9cZqnZKmNcxbk1paVapizTjgWX8
Jump to: