Author

Topic: Very new to bit coin mining (Read 1530 times)

member
Activity: 111
Merit: 10
My avatar is in the shop
October 19, 2014, 12:24:29 AM
#10
You want to know if anything is worth anything.
check here: http://www.vnbitcoin.org/bitcoincalculator.php
Really no, nothing is worth anything now.
newbie
Activity: 1
Merit: 0
October 18, 2014, 02:27:46 PM
#9
Currently the only viable option for profitable mining is by using ASICs (application specific integrated circuits), which are chips designed with the specific purpose of mining bit coins.
sr. member
Activity: 272
Merit: 250
October 17, 2014, 04:33:50 AM
#8
at the moment i have a NIVIDA Geforce GTX 650 which i know is a very bad graphics card for mining. its about 25 mhash/s

I don't want like a whole room full of computer parts but what is some good graphics cards to use that are still good for gaming?
As you can tell i am new so i really don't know.


You need better graphic card like the new GTX 980 to really mine. But just buy 1 for testing sake and don't buy more cause you won't make a profit..
sr. member
Activity: 462
Merit: 251
October 13, 2014, 06:11:37 PM
#7
what about "cloud mining" or buying mining shares?  I dont think my electricity rate is cheap enough to do it myself so I wondered if those would make any money
Pros: you don't need to set up your miner, deal with constant noise and heat, reset it, face downtime when your ISP screws up and its easier to sell a share than a physical miner.
Cons: you place trust in a mining company to not only deliver once (like in case of physical hardawre), but keep delivering for a year or two.
hero member
Activity: 728
Merit: 500
October 13, 2014, 06:05:14 PM
#6
what about "cloud mining" or buying mining shares?  I dont think my electricity rate is cheap enough to do it myself so I wondered if those would make any money
See my sig for a good example. Do your research and decide if you would benefit from it. Good luck
hero member
Activity: 560
Merit: 500
October 13, 2014, 03:14:02 PM
#5
what about "cloud mining" or buying mining shares?  I dont think my electricity rate is cheap enough to do it myself so I wondered if those would make any money
hero member
Activity: 1082
Merit: 505
A Digital Universe with Endless Possibilities.
October 12, 2014, 11:10:46 PM
#4
at the moment i have a NIVIDA Geforce GTX 650 which i know is a very bad graphics card for mining. its about 25 mhash/s

I don't want like a whole room full of computer parts but what is some good graphics cards to use that are still good for gaming?
As you can tell i am new so i really don't know.


You can try mine other algo with your GPU like x11... It is way more profitable...
hero member
Activity: 728
Merit: 500
October 12, 2014, 05:28:40 PM
#3
Mining with graphics card has not been profitable for some time now. You need to buy dedicated miners, and even then, it's hard to justify with the current low price of Bitcoin. So unless you have free electricity, you're better off buying Bitcoins instead of buying mining hardware.
legendary
Activity: 3892
Merit: 4331
October 12, 2014, 02:46:46 PM
#2
at the moment i have a NIVIDA Geforce GTX 650 which i know is a very bad graphics card for mining. its about 25 mhash/s

I don't want like a whole room full of computer parts but what is some good graphics cards to use that are still good for gaming?
As you can tell i am new so i really don't know.


If you just want to have fun, buy either used antminer S1 (for ~$50-55) or antminer S3 (~$255). You would also need a ~$50 powersupply like corsair CX500M (could be bought off ebay as well).
Even S1 will be at least 3000 times more productive (at ~180 GH). It also makes a bit of noise (this could be mitigated by underclocking to 160W-see underclocking section) and will heat your room/apartment, which is not a bad thing during winter.
Antminer S3 is ~2.5 times more productive than s1, but costs five times as much. However, antminer S3 still produces more $$ equivalent in BTC than it consumes in electricity, but antminer S1 is already in negative balance (power cost vs bitcoin minted), unless your electricity is free.
newbie
Activity: 1
Merit: 0
October 12, 2014, 02:00:42 PM
#1
at the moment i have a NIVIDA Geforce GTX 650 which i know is a very bad graphics card for mining. its about 25 mhash/s

I don't want like a whole room full of computer parts but what is some good graphics cards to use that are still good for gaming?
As you can tell i am new so i really don't know.
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