The spike is looking to be rather short, and was way too small to affect trying to mine SHA256 coins with GPUs - we would have needed a spike into the MILLIONS PER BITCOIN to even get back into the ballpark.
It WAS a nice bump to profits for those of us already mining profitable with ASIC machines, and might have gotten a few folks with older no-longer-profitable ASIC machines to manage a few extra $ profit out of some of those.
It's going to be unfortunate for some folks that bought miners during the spike because they were convinced it was a lasting price change, but when the Bitcoin price goes back down under $300 they won't RoI their new hardware. Good for the manufacturers though.
Topic: Mining rewards $$$ nothing (Read 1857 times)
OK my electricity is free and i i have no budget for buying things over a 100 dollards i just wanted to know if i could mine bitcoin with my gaming pc or is there an alternative where you could get bitcoin???
forget bitcoin, but open yourself to the altcoins ! with a gpu you can (even cpu) mine other coins, although you wont make much. You will make more than btc. maybe look at nicehash.com or something and see what you can get with the different algorithms besides sha (btc).
When this topic was made the price was about 100 dollar or less than that at that time.
Now when the price reached almost 500 USD i think that mining is profitable and lucky miners
Now when the price reached almost 500 USD i think that mining is profitable and lucky miners
https://alloscomp.com/bitcoin/calculator
shows you will be earning roundabout 0.00008606 BTC per month
mining
SHA256 or Scrypt coins with GPUs shows you will be earning roundabout 0.00008606 BTC per month
mining
Quote
is not so profitable anymore...
There, I fixed your statement.
9-)
I suggest using BTC calculator https://bitcoinwisdom.com/bitcoin/calculator . With it you add difficulty change which makes a HUGE difference over time.
I really like it you can go by week, difficulty period, etc. It's what I personally use when I dont use excel.
https://alloscomp.com/bitcoin/calculator
shows you will be earning roundabout 0.00008606 BTC per month
mining
SHA256 or Scrypt coins with GPUs shows you will be earning roundabout 0.00008606 BTC per month
mining
Quote
is not so profitable anymore...
There, I fixed your statement.
9-)
Even with free electricity, it is doubtfull that you will ever achieve RoI on a GPU-based mining rig trying to mine Bitcoin - the GPU will probably die before you get close to RoI.
You'd be a TON better off mining a non-ASIC coin like DASH with that hardware (then sell it for Bitcoin), and you even have a faint chance of achieving RoI with that sort of hardware if you optimise it well for the altcoin you target.
For perspective, your 0.35 Gigahash isn't even on the same planet, much less in the same ballpark, of any recent ASIC machine - as I recall the original Antminer S1 (which is considered obsolete by current standards) runs something like 180 GH, the LAST GENERATION S5 and Spondoolies SP30 units are good for well over 1000 GH.
Trying to use a GPU-based system to mine ANY coin based on SHA256 (Bitcoin and varients) or Scrypt (Litecoin and varients) is a complete waste, and has been so for years, even as space heaters.
You'd be a TON better off mining a non-ASIC coin like DASH with that hardware (then sell it for Bitcoin), and you even have a faint chance of achieving RoI with that sort of hardware if you optimise it well for the altcoin you target.
For perspective, your 0.35 Gigahash isn't even on the same planet, much less in the same ballpark, of any recent ASIC machine - as I recall the original Antminer S1 (which is considered obsolete by current standards) runs something like 180 GH, the LAST GENERATION S5 and Spondoolies SP30 units are good for well over 1000 GH.
Trying to use a GPU-based system to mine ANY coin based on SHA256 (Bitcoin and varients) or Scrypt (Litecoin and varients) is a complete waste, and has been so for years, even as space heaters.
I would agree GPU day's of mining have passed. Chances of even making cost of card from "free" mining is very very slim. So you are fighting a uphill battle.
Also many GPU manufactuers have changed RMA's. It was a lot of 5 year and lifetime which was crazy. Now it's less on most as mining did so many RMA. If you push it to hard you can kill a GPU.
Even with free electricity, it is doubtfull that you will ever achieve RoI on a GPU-based mining rig trying to mine Bitcoin - the GPU will probably die before you get close to RoI.
You'd be a TON better off mining a non-ASIC coin like DASH with that hardware (then sell it for Bitcoin), and you even have a faint chance of achieving RoI with that sort of hardware if you optimise it well for the altcoin you target.
For perspective, your 0.35 Gigahash isn't even on the same planet, much less in the same ballpark, of any recent ASIC machine - as I recall the original Antminer S1 (which is considered obsolete by current standards) runs something like 180 GH, the LAST GENERATION S5 and Spondoolies SP30 units are good for well over 1000 GH.
Trying to use a GPU-based system to mine ANY coin based on SHA256 (Bitcoin and varients) or Scrypt (Litecoin and varients) is a complete waste, and has been so for years, even as space heaters.
You'd be a TON better off mining a non-ASIC coin like DASH with that hardware (then sell it for Bitcoin), and you even have a faint chance of achieving RoI with that sort of hardware if you optimise it well for the altcoin you target.
For perspective, your 0.35 Gigahash isn't even on the same planet, much less in the same ballpark, of any recent ASIC machine - as I recall the original Antminer S1 (which is considered obsolete by current standards) runs something like 180 GH, the LAST GENERATION S5 and Spondoolies SP30 units are good for well over 1000 GH.
Trying to use a GPU-based system to mine ANY coin based on SHA256 (Bitcoin and varients) or Scrypt (Litecoin and varients) is a complete waste, and has been so for years, even as space heaters.
OK my electricity is free and i i have no budget for buying things over a 100 dollards i just wanted to know if i could mine bitcoin with my gaming pc or is there an alternative where you could get bitcoin???
We have a great solution for gaming PCs and non-experienced miners, take a look at NiceHash Miner (support for AMD GPUs is comming this month).
OK my electricity is free and i i have no budget for buying things over a 100 dollards i just wanted to know if i could mine bitcoin with my gaming pc or is there an alternative where you could get bitcoin???
your gaming pc could have been good for instamining altcoin, but they seems even more dead than bitcoin, which look stronger now with the current market cap
if you're limited to 100 dollars there is only s3 and s1, scrypt miner cost too much and they seems far worse than sha256
i have no budget for buying things over a 100 dollards
Why don't you just build a mining farm and get a real ROI?
He doesnt have a budget for things > $100 and you suggest him a mining farm...
Why don't you just build a mining farm and get a real ROI?
OK my electricity is free and i i have no budget for buying things over a 100 dollards i just wanted to know if i could mine bitcoin with my gaming pc or is there an alternative where you could get bitcoin???
Free, check. Under 100 dollars, doable depending where you live. With your PC, negative. Not doable.
Buy a Antminer S3, its probably the best you can get with your budget. With truly free electricity S3 is the way to go. Even S1 dirt cheap could be nice. When you want something higher, go for the S5.
S3+ is your best bet you can snag one on ebay for $100 shipped if you watch the listings and you can overclock to 500 gh that will earn you like $30-35 a month currently. Skip the S1 because if get a S1 you will say meh sell it take a $20 lost and buy a S3 anyway. If you're living at home beware that miners can be a bit loud and if your parents notice a sudden spike in their electric bill the party might be over.
edit: Dont forget the psu
You can try mining X11 algo with your PC. But you probably won't make much. But it will be more then 2 cents a month mining Bitcoin.
OK my electricity is free and i i have no budget for buying things over a 100 dollards i just wanted to know if i could mine bitcoin with my gaming pc or is there an alternative where you could get bitcoin???
Use this gaming pc for what you bough it, use it for gaming and not for mining because it is not profitable.
It does not worth even if you have free electricity, if you can't afford mining bitcoin try some scrypt alt coins and try to exchange them into bitcoin.
OK my electricity is free and i i have no budget for buying things over a 100 dollards i just wanted to know if i could mine bitcoin with my gaming pc or is there an alternative where you could get bitcoin???
Free, check. Under 100 dollars, doable depending where you live. With your PC, negative. Not doable.
Buy a Antminer S3, its probably the best you can get with your budget. With truly free electricity S3 is the way to go. Even S1 dirt cheap could be nice. When you want something higher, go for the S5.
OK my electricity is free and i i have no budget for buying things over a 100 dollards i just wanted to know if i could mine bitcoin with my gaming pc or is there an alternative where you could get bitcoin???
https://alloscomp.com/bitcoin/calculator
shows you will be earning roundabout 0.00008606 BTC per month
mining at home is not so profitable anymore...
shows you will be earning roundabout 0.00008606 BTC per month
mining at home is not so profitable anymore...
Mining at home is very profitable, just with ASIC, if you don't have exorbitant electricity price compared to the world, Bitcoin is *very* profitable, with the Bitcoin being at a high price. Even though its been going down, now.
You are correct mining at home is always profitable with the correct hardware and free electricity. Like me..
but even if you dont have free it can still be profitable with again the correct equipment. I wish I could get some more equipment. Only running 3 currently trying to fix to bitcrane cards i just bought. You can get hosting for under 50USD$ per kWh. Its not free but its still very good for proper hardware. Its a lot better than mining with crazy electricity prices. Anyone that say its not profitable to mine right now is wrong.
Though the statement "At home" hold some weight for a minority.
https://alloscomp.com/bitcoin/calculator
shows you will be earning roundabout 0.00008606 BTC per month
mining at home is not so profitable anymore...
shows you will be earning roundabout 0.00008606 BTC per month
mining at home is not so profitable anymore...
Mining at home is very profitable, just with ASIC, if you don't have exorbitant electricity price compared to the world, Bitcoin is *very* profitable, with the Bitcoin being at a high price. Even though its been going down, now.
You are correct mining at home is always profitable with the correct hardware and free electricity. Like me..
but even if you dont have free it can still be profitable with again the correct equipment. I wish I could get some more equipment. Only running 3 currently trying to fix to bitcrane cards i just bought. https://alloscomp.com/bitcoin/calculator
shows you will be earning roundabout 0.00008606 BTC per month
mining at home is not so profitable anymore...
shows you will be earning roundabout 0.00008606 BTC per month
mining at home is not so profitable anymore...
Mining at home is very profitable, just with ASIC, if you don't have exorbitant electricity price compared to the world, Bitcoin is *very* profitable, with the Bitcoin being at a high price. Even though its been going down, now.
https://alloscomp.com/bitcoin/calculator
shows you will be earning roundabout 0.00008606 BTC per month
mining at home is not so profitable anymore...
shows you will be earning roundabout 0.00008606 BTC per month
mining at home is not so profitable anymore...
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