Bitcoin Forum

I'm interested in getting started mining and was wondering the best options?

If you have the hardware on hand, GPUs should pay for their electicity usage until ASICS come online. Not all the ASIC companies appear to be reputable though.

Here is a mining calculator to for you to play with: http://www.bitcoinx.com/profit/ (http://www.bitcoinx.com/profit/)

It would be great if there is something like that for Litecoin too.

I would recommend that if you don't have an ASIC, to try Litecoin. The difficult is very low and there are no ASICs.  You can then use Vircurex.com to trade your LTC to BTC, if you need to.

noboday can garant you that you will profit with gpus even with asic...

if you need help just pm me of ask on my new forum  :) www.altcointalk.co.uk

Not if you're mining BTC. You should dedicate your GPU miner to mining prominent alt coins and stick to either trading USD for BTC or purchasing an ASIC to mine BTC.

To be honest, no.

You should try to mine Linecoins instead, which are a nice alternative. Unless you still have allot of GPU cards dedicated to Bitcoins, its not wise to start a new Bitcoin mining project with GPU.

ASIC should be the way to go, but ASIC supply is very limited right now.

bad option by the time being ...

It is profitable to mine if you have AMD graphics cards. Check all the various online mining calculators and see what's your break even point for electricity costs.

Don't buy any new GPUs for bitcoin mining, they will never pay off. The same with litecoin mining. Litecoin difficulty will raise dramatically.

I agree with Keldel, if you have the hardware already do it, but do not buy new one or invest on it. It just does not make sense, in particular because you will be left out very soon, once all those other ASIC devices get online.

I assume even those just having a few ASIC devices will be left out vs the ones buying huge ASIC gears. Its still a risky investment, in particular because bitcoin is coming unstable until this transition is done. So some could earn money and others could lose everything.

Либo ASIC, либo нa scrypt пepexoдитe

I would probably not mine for Bitcoins with your GPU / CPU anymore as the cost for mining (investment in hardware & power) are getting higher and the rewards drops fast.

You can check out the ASIC (Application-specific integrated circuit) mining hardware if your really want to mine bitcoins.

Alternative crypto currency (Litecoin etc,)
Another thing you can do is mine the alternative coins with your gpu and cpu.

Good luck with it!

~ Luc

As far as I see, all cryptos are flawed to fail to ASIC devices and less rewards as time goes on.

Is this bad? Is this good? Some say its natural and will make BTC stronger, others say its the doom of Bitcoin.

Regardless of what you think, I think its a bit sad that you can´t use CPU for anything anymore, even with powerful chips, they are pretty much useless, which means there is something wrong in this cryptos.

Imagine, having the most powerful servers in the market, and they would still do nothing vs an ASIC cheap device.

The main heart of this crypto coins is to main its nature of being P2P, I don´t see how that is possible unless devices arrive to consumers.

I was lucky to get some, and bough others from other people, and still waiting months for others to arrive, but unless you are heavily into bitcoin, I don´t think the usual users will put this money on a hardware that will be obsolete in a few months, because even with ASIC you need to keep upgrading and upgrading, to make it profitable. Its a hard business, mining this days.

0/10 trolling

Bullshit.

You must know right? How many ASIC devices do you own?

Besides mining bitcoins, and having a short life span they generate heat, and nothing more. By short life span I mean you can mine with them for a short period of time, and they are not profitable anymore unless you keep adding more or upgrade to bigger devices.

With standard chips, like Xeon, you can always resell them where you want, use them as web servers, email servers, Internet, you name it.

Someone investing 5,000$ in a server or standard computing hardware, will make its return 1000% faster than someone investing 5,000$ in ASIC device hardware. I know because I was in both routes.

ASIC devices for Bitcoins only work in massive scale and even then they will be useless eventually, because that is exactly how the network is designed, to keep increasing in difficulty.

So you are better an earlier adopter or have tons of cash to spend on them.

I think the best is sell the cards, use the proceeds to buy Bitcoins

Scrypt-based coins require considerable amounts of fast RAM. That makes scrypt ASICs more difficult to construct and a lot more expensive.


I disagree. A coin that can be mined primarily on CPUs is extremely vulnerable to 51% attacks. A single botnet would suffice to kill the coin.


The servers can't sweep the floor either, while a cheap broom excels at it.


Well, that depends entirely on what you're buying. If you actually tried an ASIC device, I suspect you fell for those USB ASIC miners. Not that they're bad, but they were incredibly overpriced at launch and are still on the expensive side.

Too late for GPU, maybe if you have very cheap electricity it's worth it. But return isn't much. I wouldn't bother building a GPU mining machine even with very cheap electricity. Asics are hard to get, maybe order KNC miner or invest bitcoins into securities.

only if your mining altcoins

The same goes for any mining equipment, ASICs for BTC and GPUs for LTC alike. You have to hope that price will rice massively for either to become profitable.

That is the problem with these crypto coins, it is a massive rat race you cannot win. All your gains need to be reinvested into faster and better hardware to stay on top of the game.

Don't forget all the hordes of people that are mining bitcoins with GPUs. Once all those ASICs come online, difficulty will skyrocket. What will they do? Most likely they will flood litecoin, the second most prominent virtual currency. I suggest feathercoin or novacoin, which is worth about a couple dollars each.