New to mining questions. | Bitcointalksearch.org

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: notlist3d on September 19, 2015, 10:02:02 AM

Quote from: Amph on September 19, 2015, 09:50:51 AM

Quote from: notlist3d on September 19, 2015, 09:47:02 AM

Quote from: Amph on September 19, 2015, 06:02:52 AM

Quote from: notlist3d on September 19, 2015, 05:17:28 AM

Quote from: Amph on September 19, 2015, 03:36:53 AM

Quote from: pilscoop on September 18, 2015, 07:38:14 PM

Hey,
New to mining here.
Where do you recommend I start?

from s7 if you want any real edge for your profit, it's profitable up to 0.15-25 cent but the roi will kill you

but if you have something like 0.05 cent per hour, it can be worth it

Can you show math of .25 being profitable? With difficulty I think .15 is hard to ROI, but .25 seems pretty much impossible.

Including difficulty I just don't see how you are ROIing at such high electricity.

well i was assuming that diff does not change, which is unrealistic yes, maybe 0.25 is overstimating

but with 1.2kw x 0.20 x 24, you have $5.76 in consumption, daily, vs $10 in earning daily, i'm talking about the s7

I guess I never do ROI without some difficulty change. In a world without it yes the .2x would ROI. But I think in "real world" anything near the .2x ROI is just a dream.

Only chance is if they get lucky mine a few weeks and somehow are able to sell miner for what they paid. They will not be able to stay in the race hundreds of days.

i don't trust difficult change too much, i replyed to another member that was saying that the diff was increase much more than 3%, monthly supposedly, yet since january at least, the earning of the antminer s5 was 0.01 for the whole time until today which is still near 0.01(0.0097)

all this difficult change to me seems smoke and nothing else, people should remember that if the diff is increasing, it is because there is more efficiency, but if there is more efficiency there is more reward, the ratio will remain the same

How can you possibly not believe in difficulty change? It happens - https://bitcoinwisdom.com/bitcoin/difficulty

As someone who mines with more then one S5 it does exist and effects earnings. And eventually makes miners unprofitable. If there was no difficulty change I could run an old miner forever, just does not happen and to good to be true.

it's not that i don't believe in difficult change, i know it change all the time, my point is that at the end the same ratio will remain, like i've explained it the previous post, so the effect of the diff is negligeable if the price of bitcoin does not change

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: Amph on September 19, 2015, 09:50:51 AM

Quote from: notlist3d on September 19, 2015, 09:47:02 AM

Quote from: Amph on September 19, 2015, 06:02:52 AM

Quote from: notlist3d on September 19, 2015, 05:17:28 AM

Quote from: Amph on September 19, 2015, 03:36:53 AM

Quote from: pilscoop on September 18, 2015, 07:38:14 PM

Hey,
New to mining here.
Where do you recommend I start?

from s7 if you want any real edge for your profit, it's profitable up to 0.15-25 cent but the roi will kill you

but if you have something like 0.05 cent per hour, it can be worth it

Can you show math of .25 being profitable? With difficulty I think .15 is hard to ROI, but .25 seems pretty much impossible.

Including difficulty I just don't see how you are ROIing at such high electricity.

well i was assuming that diff does not change, which is unrealistic yes, maybe 0.25 is overstimating

but with 1.2kw x 0.20 x 24, you have $5.76 in consumption, daily, vs $10 in earning daily, i'm talking about the s7

I guess I never do ROI without some difficulty change. In a world without it yes the .2x would ROI. But I think in "real world" anything near the .2x ROI is just a dream.

Only chance is if they get lucky mine a few weeks and somehow are able to sell miner for what they paid. They will not be able to stay in the race hundreds of days.

i don't trust difficult change too much, i replyed to another member that was saying that the diff was increase much more than 3%, monthly supposedly, yet since january at least, the earning of the antminer s5 was 0.01 for the whole time until today which is still near 0.01(0.0097)

all this difficult change to me seems smoke and nothing else, people should remember that if the diff is increasing, it is because there is more efficiency, but if there is more efficiency there is more reward, the ratio will remain the same

How can you possibly not believe in difficulty change? It happens - https://bitcoinwisdom.com/bitcoin/difficulty

As someone who mines with more then one S5 it does exist and effects earnings. And eventually makes miners unprofitable. If there was no difficulty change I could run an old miner forever, just does not happen and to good to be true.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: notlist3d on September 19, 2015, 09:47:02 AM

Quote from: Amph on September 19, 2015, 06:02:52 AM

Quote from: notlist3d on September 19, 2015, 05:17:28 AM

Quote from: Amph on September 19, 2015, 03:36:53 AM

Quote from: pilscoop on September 18, 2015, 07:38:14 PM

Hey,
New to mining here.
Where do you recommend I start?

from s7 if you want any real edge for your profit, it's profitable up to 0.15-25 cent but the roi will kill you

but if you have something like 0.05 cent per hour, it can be worth it

Can you show math of .25 being profitable? With difficulty I think .15 is hard to ROI, but .25 seems pretty much impossible.

Including difficulty I just don't see how you are ROIing at such high electricity.

well i was assuming that diff does not change, which is unrealistic yes, maybe 0.25 is overstimating

but with 1.2kw x 0.20 x 24, you have $5.76 in consumption, daily, vs $10 in earning daily, i'm talking about the s7

I guess I never do ROI without some difficulty change. In a world without it yes the .2x would ROI. But I think in "real world" anything near the .2x ROI is just a dream.

Only chance is if they get lucky mine a few weeks and somehow are able to sell miner for what they paid. They will not be able to stay in the race hundreds of days.

i don't trust difficult change too much, i replyed to another member that was saying that the diff was increase much more than 3%, monthly supposedly, yet since january at least, the earning of the antminer s5 was 0.01 for the whole time until today which is still near 0.01(0.0097)

all this difficult change to me seems smoke and nothing else, people should remember that if the diff is increasing, it is because there is more efficiency, but if there is more efficiency there is more reward, the ratio will remain the same

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: Amph on September 19, 2015, 06:02:52 AM

Quote from: notlist3d on September 19, 2015, 05:17:28 AM

Quote from: Amph on September 19, 2015, 03:36:53 AM

Quote from: pilscoop on September 18, 2015, 07:38:14 PM

Hey,
New to mining here.
Where do you recommend I start?

from s7 if you want any real edge for your profit, it's profitable up to 0.15-25 cent but the roi will kill you

but if you have something like 0.05 cent per hour, it can be worth it

Can you show math of .25 being profitable? With difficulty I think .15 is hard to ROI, but .25 seems pretty much impossible.

Including difficulty I just don't see how you are ROIing at such high electricity.

well i was assuming that diff does not change, which is unrealistic yes, maybe 0.25 is overstimating

but with 1.2kw x 0.20 x 24, you have $5.76 in consumption, daily, vs $10 in earning daily, i'm talking about the s7

I guess I never do ROI without some difficulty change. In a world without it yes the .2x would ROI. But I think in "real world" anything near the .2x ROI is just a dream.

Only chance is if they get lucky mine a few weeks and somehow are able to sell miner for what they paid. They will not be able to stay in the race hundreds of days.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: notlist3d on September 19, 2015, 05:17:28 AM

Quote from: Amph on September 19, 2015, 03:36:53 AM

Quote from: pilscoop on September 18, 2015, 07:38:14 PM

Hey,
New to mining here.
Where do you recommend I start?

from s7 if you want any real edge for your profit, it's profitable up to 0.15-25 cent but the roi will kill you

but if you have something like 0.05 cent per hour, it can be worth it

Can you show math of .25 being profitable? With difficulty I think .15 is hard to ROI, but .25 seems pretty much impossible.

Including difficulty I just don't see how you are ROIing at such high electricity.

well i was assuming that diff does not change, which is unrealistic yes, maybe 0.25 is overstimating

but with 1.2kw x 0.20 x 24, you have $5.76 in consumption, daily, vs $10 in earning daily, i'm talking about the s7

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: Amph on September 19, 2015, 03:36:53 AM

Quote from: pilscoop on September 18, 2015, 07:38:14 PM

Hey,
New to mining here.
Where do you recommend I start?

from s7 if you want any real edge for your profit, it's profitable up to 0.15-25 cent but the roi will kill you

but if you have something like 0.05 cent per hour, it can be worth it

Can you show math of .25 being profitable? With difficulty I think .15 is hard to ROI, but .25 seems pretty much impossible.

Including difficulty I just don't see how you are ROIing at such high electricity.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: pilscoop on September 18, 2015, 07:38:14 PM

Hey,
New to mining here.
Where do you recommend I start?

from s7 if you want any real edge for your profit, it's profitable up to 0.15-25 cent but the roi will kill you

but if you have something like 0.05 cent per hour, it can be worth it

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: VirosaGITS on September 18, 2015, 08:19:19 PM

Quote from: pilscoop on September 18, 2015, 07:38:14 PM

Hey,
New to mining here.
Where do you recommend I start?

"Mining here"? Do you have any hardware. Are you already mining but just now registering?

What are you looking for? Help on what to buy? Software to run? OS to install?

What is your budget? What is your electricity cost?

If you give us a minimum to work with, either I or someone else will surely give you recommendations.

My biggest questions for new miners is what is electricity cost and do you have an import/vat? If import/vat what is it? This can judge if you stand a chance.

And there are other options such as usb miners like the compac you can use to learn if you cant ROI on other gear.

VirosaGITS

legendary

Activity: 1302

Merit: 1068

Quote from: pilscoop on September 18, 2015, 07:38:14 PM

Hey,
New to mining here.
Where do you recommend I start?

"Mining here"? Do you have any hardware. Are you already mining but just now registering?

What are you looking for? Help on what to buy? Software to run? OS to install?

What is your budget? What is your electricity cost?

If you give us a minimum to work with, either I or someone else will surely give you recommendations.

pilscoop

member

Activity: 70

Merit: 10

Hey,
New to mining here.
Where do you recommend I start?

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: BlockC-Yan on September 16, 2015, 04:45:13 PM

It is no longer viable to mine with your PC or GPU. There is nothing you can do to come even close to viable.

Regards,
Yan

if in the future the algorithm of bitcoin is changed for whatever reason(quantum computer or something) i'm sure the gpu party can jump again

never say never

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: BlockC-Yan on September 16, 2015, 04:45:13 PM

It is no longer viable to mine with your PC or GPU. There is nothing you can do to come even close to viable.

Regards,
Yan

You have to be careful it is no longer viable to mine with a CPU or GPU. But mining with sticks, U3's, etc you might run a desktop still.

Or even better a RPI which I have been playing with lately. They are about cheapest way to control most of the stick miners, and orb type miners.

BlockC-Yan

newbie

Activity: 7

Merit: 0

It is no longer viable to mine with your PC or GPU. There is nothing you can do to come even close to viable.

Regards,
Yan

armedmilitia

hero member

Activity: 562

Merit: 506

We're going to need a bigger heatsink.

Quote from: -ck on September 05, 2015, 08:32:41 AM

Quote from: armedmilitia on September 04, 2015, 04:30:35 PM

Not for bitcoin mining. This infographic is one I made about GPU mining, and cpu mining is much slower and less efficient.

Hey that graphic is great and helps a lot and would save a lot of time if it's linked every time a newcomer comes along. The only thing missing is to not only say how many cents it will earn in a month, but how many dollars it would cost in electricity (on average) in the meantime.

Hmm, I think I'll add that to it when I get the chance. Good suggestion!

Alpha010

newbie

Activity: 3

Merit: 0

Good deal Johnny, sounds like a solid answer to my questions. Thanks.

jonnybravo0311

legendary

Activity: 1344

Merit: 1024

Mine at Jonny's Pool

Quote from: Alpha010 on September 05, 2015, 08:17:07 AM

Thanks guys, I appreciate the infographics and insight. I also appreciate not being kicked in the teeth for being new to this. I do plan on tinkering with my own equipment once I get something a bit more up to date.

I was only thinking that by using the computers at work, i am saving myself the overhead since those computers never shut off and are regularly updated to newer, better hardware as 3d modelling requirements set by the ever-changing software denotes that we upgrade. And if something can be ran in the background, less chance of our IT department even noticing it or finding it.

In reality, I am aware that profitability for what I wish to accomplish is borderline not worth it, it still gives a platform with which I can learn and tinker with while I have downtime as apposed to staring at cryptocurrency faucets on the web for hours on end only to make about 50 cents a day.

Anyways, thanks again for the help!

So... the first thing I bolded. If you're trying to hide this from your IT department, you're probably not in the position of making this decision in the first place.

The second thing I bolded. It isn't borderline worth it. It is completely worthless. You will not make any profit. At all. None.

Those two things aside, if you just want to play around with mining, buy yourself a stick miner and plug it in to your desktop. Far less power consumption for a far greater hash rate.

-ck

legendary

Activity: 4088

Merit: 1631

Ruu \o/

Quote from: armedmilitia on September 04, 2015, 04:30:35 PM

Not for bitcoin mining. This infographic is one I made about GPU mining, and cpu mining is much slower and less efficient.

Hey that graphic is great and helps a lot and would save a lot of time if it's linked every time a newcomer comes along. The only thing missing is to not only say how many cents it will earn in a month, but how many dollars it would cost in electricity (on average) in the meantime.

Alpha010

newbie

Activity: 3

Merit: 0

Thanks guys, I appreciate the infographics and insight. I also appreciate not being kicked in the teeth for being new to this. I do plan on tinkering with my own equipment once I get something a bit more up to date.

I was only thinking that by using the computers at work, i am saving myself the overhead since those computers never shut off and are regularly updated to newer, better hardware as 3d modelling requirements set by the ever-changing software denotes that we upgrade. And if something can be ran in the background, less chance of our IT department even noticing it or finding it.

In reality, I am aware that profitability for what I wish to accomplish is borderline not worth it, it still gives a platform with which I can learn and tinker with while I have downtime as apposed to staring at cryptocurrency faucets on the web for hours on end only to make about 50 cents a day.

Anyways, thanks again for the help!

unholycactus

legendary

Activity: 1078

Merit: 1024

Quote from: deltalima on September 04, 2015, 05:34:14 PM

Quote from: Alpha010 on September 04, 2015, 03:50:11 PM

I have a few decent computers running win 7 at work

Do you own the computers and do you pay for the power?

OP mentioned work, even if you're the business owner, I don't recommend it.
CPU mining, even for other coins, will never be efficient enough to be profitable nowadays. You will gain shares, but hardware failure risk won't be worth the reward.
I encourage you to play around and learn mining but with your own computers.

deltalima

newbie

Activity: 41

Merit: 0

Quote from: Alpha010 on September 04, 2015, 03:50:11 PM

I have a few decent computers running win 7 at work

Do you own the computers and do you pay for the power?

armedmilitia

hero member

Activity: 562

Merit: 506

We're going to need a bigger heatsink.

Not for bitcoin mining. This infographic is one I made about GPU mining, and cpu mining is much slower and less efficient.

You might have luck with altcoins. I've heard monero has a CPU-friendly algorithm--but you still won't make a significant amount of money. Maybe a dollar a day if you find a good coin, it's probably not worth the effort.

Alpha010

newbie

Activity: 3

Merit: 0

I have a few decent computers running win 7 at work and are on and internet connected 24/7/365. One runs cmm software that is gpu heavy, is it possible to run a cpu miner with a front-end windowed or in the background? It is a quad-core xeon machine that is idle 99% of the time and figured i would use it's power for something. Would it be possible to gain any shares at all on a pool?

Topic: New to mining questions. (Read 1833 times)