Bitcoin Forum

Hello BitcoinTalk!

I'm quite new here. I've read a few thread and I was honestly wondering if bitcoin mining is worth it anymore with a small budget.

I've got a GTX 980 ti, and I know GPU mining has been efficient in the past, but ASIC miners are the main bitcoin mining hardware nowadays.

So, if I'd mine bitcoin with my GPU, would it be worth it, at all?

Thanks,
A

Honestly don't even try to waste your time mining using your GPU as it's not worth the time/effort/electricity. You'll be at more loss than gain. Even the small cheap USB mining equipment's have better hash rate than your GPU and they usually cost around $25 only.

Bitcoin mining is no more profitable if you mine with a GPU. You need asic and a really good eletricity price. If you have anny question do not hesitate.

Thanks for the replies! I'll look into ASIC hardware.

The hard part is you mention low budget a lot of miners are far from being low budget.  What is your electricity price OP? This will determine a lot as far as what miners might be good for you.

You can get a stick miner like the compac to learn not much.  But you will not ROI on the stick miner they are to expensive per hash.  So it takes a bigger investment to get a bigger miner where price of hash is not as expensive.  And next comes efficiency which is very important depending on your electricity price.

In the past, this would be profitable but nowadays you'll just be in a loss. The increase in difficulty that happens every few weeks or so will just get you nowhere close to ROI. You need to get the top of the line Asic or Bitmain miners, really low electricity cost and be in a cold weather but still earnings can only give you at around 10% guesstimate per month so you might not be able to get to ROI before the halving.

Trying to mine Bitcoin (or any other SHA256-based coin) with a video card has been a "HOW TO LOSE MONEY" idea for a few years now.
Ditto Scrypt-based coins for about 2 years now.

 Dig around in the altcoin forum area though, coins that don't use SHA256 or Scrypt (like DASH which is X11) CAN be mined profitably with a GPU if you don't have high electric cost.

no, but a s7 will not cost you much more than the gpu, one is 700 euro the other 1250

and the s7 can mine bitcoin, altcoin are also heavily in asic now, and thus that ar enot, are not very profitable, you can be lucky some time and find one profitable for a short time, but it's not worth the effort...

The GPU might hold value longer depending on how long till next release (have not kept up with GPU's for a while).  But even buying mining and selling it I don't see much profit if any. 

Asics control pretty much everything.  And a lot of the scrypt asics seem to be secret.  SFards went dark.. and mined it themselves.  So hard to tell if anyone else out there did this to.

If your incentive is to make profit, then don't go into bitboin, rather buy some cloud mining and buy some bitcoins directly.
When you want to learn about mining, my advice would be to buy a cheap S1/S3 miner and experience it.

I disagree. Don't touch cloud mining or S1's.

If you want to learn, get something like sidekicks 15gh/s usb sticks. Only about 5w each.

Allows you to learn about mining while not paying a fortune for electricity. Will actually make a small profit if you pool mine, but most are buying a few and using them as solo lottery miners as they are such low power.

Even ASIC's can't ROI in less than 300 days in today's conditions, GPU mining is only for burning your graphics card for nothing.
You shouldn't even do mining with ASIC's if your budget is low. That's not positive effective cost.

And burning a GPU is possible to do.  It's been a while but I was decently into GPU's, and was always pushing for more power.  Seeing a GPU and a puff of smoke is one of the least fun things to see.

Also GPU's have been making warranty less great.  When I was mining a lot were 5 years, some even more then that.  No GPU's don't have the 5+ years that almost all had I don't think at this point.

What about altcoins? Are they just as inneffective?

Altcoins are hard to speculate.  There are so many crap coins that they change the name and logo at this point it's crazy.  A common term is pump/dump.  They will release a new coin try to pump it... and it get's dumped.  The ones who were still holding now have coins that are not worth much compared to start.

Also asics rule scrypt algo to.  Some miners are not public like SFards has at least 2 batches of their LTC miner and maybe 20-30 made it to public.  Almost all were used internally to mine.  Second batch not sure if was internal or big buyer... no one knows.

But the ones that are GPU just by time you include electricity the chances of ROIing on a GPU are very very slim.  So I would stay away from a lot of altcoin moving for he most part.

some seems profitable as bitcoin is, but that's it, if you have a gpu and you don't have money for asic, you can try ot mine dash or ethereum, they appear to be the most profitable


yeah, there are also rumors about secret xX asic, so not even that algo is safe anymore, only monero algo and akin are safe, since you can't even mine them properly with gpu

And that is part of it where most mining companies are privately held they don't need to disclose what they are doing.  Just like SFards they did the math and figured out wow we can make a lot just keeping in internal.... and they did that.

If a algo is worth enough someone will build an asic just how it works now.  Most algos are asic resistant not asic proof.  So if there are asics in X11, X13, etc.  Would not surprise me at all if they mined them and were quiet.   

With altcoins you have to be carefull.
Sure mining new altcoins can be profitable.
Nut most new altcoins are just scams from east-european 'devs'