How long? What do you mean? How long to just get a bitcoin or how long to profit a bitcoin? Anyone can buy up some mining gear or do cloud mining and quickly get 1 BTC. If you are talking about profiting 1 bitcoin, that's totally different and ROI comes into play. And these are shark infested waters. Don't trust online exchanges where your bitcoins can be stolen because of poor security even if you had a good password.
Don't even trust these message boards. The best you can do is read on these boards and other forums and then make your own action.
If you're thinking of buying your own gear, consider maintenance costs after your purchase. If you can find a way to get any amount of free electric then you should make that your first priority.
Like others said, the value of the coin is based on economics and at the mercy of all of us rather one of us be an honest supporter or a dirty no-good thief.
Topic: Re: How long to mine 1.0 BTC ? (Read 1852 times)
u need to choose currency u will follow, mine it and HELP it to grow ie by spreading news on it and truly helping its community - then its not hard to make even 5BTC.
i do that for EXCL - like just now
i do that for EXCL - like just now
YAAMP is another. There are others as well, such as Coinking, though their autoconvert to BTC never worked well in my limited experience with them.
So any other multipool thats pays on BTC or trademybit is the only one?
nicehash, wafflepool... clevermining
If I'm not mistaken X11 was first introduced early this year with Darkcoin. And Darkcoin didn't hit millions of dollars market cap until April or May. (I remember because it brought me to my ROI point investing in it). Other coins with X11 soon came along, but the point is that there would have been no opportunity to design an X11 ASIC prior to the release of Darkcoin, and no economic incentive to do the design work on an X11 ASIC until at least May.
I'm not totally familiar with the full process for designing, testing and producing ASICs (I'm a quality engineer in automotive electronics assembly, but my ASIC knowledge is limited). But my guess is that if you want the design to work reliably there is going to need to be a process of refinement and testing taking several months at a minimum. Production would also take weeks once the mask is ready and wafer processing could begin.
I think it's conceivable there could just now be X11 ASICs, but if so we'd expect to see a decline in X11 profitability specifically. Whereas instead we see X13 and X15, etc., all declining as well. Plus an ASIC manufacturer can probably make more money selling to the masses than trying to secretly set up their own mining farm, if bitcoin and Scrypt ASIC history is any clue.
So no, I don't think there are any X11 ASICs out there. I believe the decline in profitability was driven by people shutting off miners during the summer, who've turned them back on with the return of cold weather in the hopes of making a little more profit. Except that so many other people did that, that we are all now on the verge of mining at a loss.
Edit: I'd also point out the Litecoin had a market cap around $500,000,000 to support the introduction of Scrypt ASICs. Darkcoin is what, 5% of that now? The market cap of all X11 coins is tiny compared to what it took to launch SHA-256 and Scrypt ASICs. If anyone did try to develop an X11 ASIC they are in danger of not recouping their investment.
I'm not totally familiar with the full process for designing, testing and producing ASICs (I'm a quality engineer in automotive electronics assembly, but my ASIC knowledge is limited). But my guess is that if you want the design to work reliably there is going to need to be a process of refinement and testing taking several months at a minimum. Production would also take weeks once the mask is ready and wafer processing could begin.
I think it's conceivable there could just now be X11 ASICs, but if so we'd expect to see a decline in X11 profitability specifically. Whereas instead we see X13 and X15, etc., all declining as well. Plus an ASIC manufacturer can probably make more money selling to the masses than trying to secretly set up their own mining farm, if bitcoin and Scrypt ASIC history is any clue.
So no, I don't think there are any X11 ASICs out there. I believe the decline in profitability was driven by people shutting off miners during the summer, who've turned them back on with the return of cold weather in the hopes of making a little more profit. Except that so many other people did that, that we are all now on the verge of mining at a loss.
Edit: I'd also point out the Litecoin had a market cap around $500,000,000 to support the introduction of Scrypt ASICs. Darkcoin is what, 5% of that now? The market cap of all X11 coins is tiny compared to what it took to launch SHA-256 and Scrypt ASICs. If anyone did try to develop an X11 ASIC they are in danger of not recouping their investment.
Oh, by the way, in answer to the question of how long to mine 1 BTC, I actually just did the math for this on another thread. (A guy is trying to sell a kernel to mine X11, etc. 50% faster for 3 BTC to a pool of buyers).
It works out that for X11, you need 208 Megahash to mine 1 BTC in one month at yesterday's best pool rate (.00016 BTC/Mhash at YAAMP). That's almost 9 times the size of my rig of four 290X's. Rates decline almost constantly, so keep that in mind as well.
It works out that for X11, you need 208 Megahash to mine 1 BTC in one month at yesterday's best pool rate (.00016 BTC/Mhash at YAAMP). That's almost 9 times the size of my rig of four 290X's. Rates decline almost constantly, so keep that in mind as well.
So, correct me if I'm wrong please, with the new ANTMINER S4 -B2 doing 2 Terrahash/second , one will be able to mine 10 Btc per month ?
That would mean to me that I get the investment back within 2 weeks (I do not have to pay for the nrg bill
)NO you won't earn 10BTC per month, 2 completely different ALGO's and hardware....
Above example talks about mining X11 algo which can only be done with GPU's or secret chinese X11 Asic that we don't have access to and the Antminer S4 2TH only does SHA256 algo mining...
secret chinese asic... so secret everybody speak about it... so secret nobody is even able to post a photo...
There are more photo of UFO or bigfoot around than there is of asic x11
Oh, by the way, in answer to the question of how long to mine 1 BTC, I actually just did the math for this on another thread. (A guy is trying to sell a kernel to mine X11, etc. 50% faster for 3 BTC to a pool of buyers).
It works out that for X11, you need 208 Megahash to mine 1 BTC in one month at yesterday's best pool rate (.00016 BTC/Mhash at YAAMP). That's almost 9 times the size of my rig of four 290X's. Rates decline almost constantly, so keep that in mind as well.
It works out that for X11, you need 208 Megahash to mine 1 BTC in one month at yesterday's best pool rate (.00016 BTC/Mhash at YAAMP). That's almost 9 times the size of my rig of four 290X's. Rates decline almost constantly, so keep that in mind as well.
So, correct me if I'm wrong please, with the new ANTMINER S4 -B2 doing 2 Terrahash/second , one will be able to mine 10 Btc per month ?
That would mean to me that I get the investment back within 2 weeks (I do not have to pay for the nrg bill
)NO you won't earn 10BTC per month, 2 completely different ALGO's and hardware....
Above example talks about mining X11 algo which can only be done with GPU's or secret chinese X11 Asic that we don't have access to and the Antminer S4 2TH only does SHA256 algo mining...
So any other multipool thats pays on BTC or trademybit is the only one?
nicehash, wafflepool... Oh, by the way, in answer to the question of how long to mine 1 BTC, I actually just did the math for this on another thread. (A guy is trying to sell a kernel to mine X11, etc. 50% faster for 3 BTC to a pool of buyers).
It works out that for X11, you need 208 Megahash to mine 1 BTC in one month at yesterday's best pool rate (.00016 BTC/Mhash at YAAMP). That's almost 9 times the size of my rig of four 290X's. Rates decline almost constantly, so keep that in mind as well.
It works out that for X11, you need 208 Megahash to mine 1 BTC in one month at yesterday's best pool rate (.00016 BTC/Mhash at YAAMP). That's almost 9 times the size of my rig of four 290X's. Rates decline almost constantly, so keep that in mind as well.
So, correct me if I'm wrong please, with the new ANTMINER S4 -B2 doing 2 Terrahash/second , one will be able to mine 10 Btc per month ?
That would mean to me that I get the investment back within 2 weeks (I do not have to pay for the nrg bill
)
So any other multipool thats pays on BTC or trademybit is the only one?
Oh, by the way, in answer to the question of how long to mine 1 BTC, I actually just did the math for this on another thread. (A guy is trying to sell a kernel to mine X11, etc. 50% faster for 3 BTC to a pool of buyers).
It works out that for X11, you need 208 Megahash to mine 1 BTC in one month at yesterday's best pool rate (.00016 BTC/Mhash at YAAMP). That's almost 9 times the size of my rig of four 290X's. Rates decline almost constantly, so keep that in mind as well.
Thanks mate It works out that for X11, you need 208 Megahash to mine 1 BTC in one month at yesterday's best pool rate (.00016 BTC/Mhash at YAAMP). That's almost 9 times the size of my rig of four 290X's. Rates decline almost constantly, so keep that in mind as well.
Appreciate the answers and the tips for mining because I've been trying to wrap my head around this lately and it's just driving me nuts especially because I'm not that computer literate as it is so doing all this commands and prompting and shit and installing devices is making my head spin and finding the right software and connecting to the right pools or whatever is also confusing the heck out of me but Thanks again for everything
Oh, by the way, in answer to the question of how long to mine 1 BTC, I actually just did the math for this on another thread. (A guy is trying to sell a kernel to mine X11, etc. 50% faster for 3 BTC to a pool of buyers).
It works out that for X11, you need 208 Megahash to mine 1 BTC in one month at yesterday's best pool rate (.00016 BTC/Mhash at YAAMP). That's almost 9 times the size of my rig of four 290X's. Rates decline almost constantly, so keep that in mind as well.
It works out that for X11, you need 208 Megahash to mine 1 BTC in one month at yesterday's best pool rate (.00016 BTC/Mhash at YAAMP). That's almost 9 times the size of my rig of four 290X's. Rates decline almost constantly, so keep that in mind as well.
Current rates are well below the typical cost of electricity, which means it only makes financial sense to mine if you are making the use of the heat produced to offset other heating costs in your home (or whatever). I'm doing Neoscrypt mining which is a good 50% more profitable than X11/13/14/15 mining at the moment. Figuring in the offset for propane prices (much lower than last winter), minus electricity costs, I'm earning maybe $0.30-0.50 a day with four 290X's, which is getting pretty ridiculous.
I used Purse to order myself a new 4K monitor today at 20% off Amazon's price of $399. When it arrives I figure it will be time to convert my miner into a gaming rig as I'd originally planned. I expected to make it through the winter before doing so, but unless revenue rebounds significantly we've reached the point of futility.
BTW, I suggest using Poolpicker.eu if you do want to try to stick with the best performing pools.
I used Purse to order myself a new 4K monitor today at 20% off Amazon's price of $399. When it arrives I figure it will be time to convert my miner into a gaming rig as I'd originally planned. I expected to make it through the winter before doing so, but unless revenue rebounds significantly we've reached the point of futility.
BTW, I suggest using Poolpicker.eu if you do want to try to stick with the best performing pools.
I'm also new to crypto and mining. I got 2 Asus R9280x DC2T and 1 Nvidia 550Ti mining @ trademybit.com. You can mine there scrypt-x11-x13-x15-nist and such algos and all converted to BTC. Give it a try!!
Thanks for the link my friend appreciate that
I'm also new to crypto and mining. I got 2 Asus R9280x DC2T and 1 Nvidia 550Ti mining @ trademybit.com. You can mine there scrypt-x11-x13-x15-nist and such algos and all converted to BTC. Give it a try!!
i was going to try mining with my new nvidia 980 gpu as well are there any asic for x11 or is it still worth a try with gpu?
are there any asic for x11 or is it still worth a try with gpu?
Does anyone have any recommendations of any Altcoins autoswitch pay out in BTC pools that are worth mining in?
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