Bitcoin Forum

I first started mining last week and I started at 260 mHash/s. Right now, I am at 0.00025676 BTC, and should I create a Mining Rig? I learned that in a whole month I could make 0.00102704 BTC with my computer. I Decided to make a mining rig with a Rasberry Pi. I want to go at 1.2 GH/s to generate a good amount of bitcoins a month. But is making a mining Rig worth it? I don't plan to Buy bitcoins, I plan to mine them.

You are aware that you spending $60-$70/month and you are not earning anything???
And you are aware that 1.2gh will not change anything???

There is no point of mining btc with gpu-s for the last six months.

Do some more research before do anything stupid.

What do you consider "a good amount"?

I would like to earn (by Mining) 0.05 BTC a week. (I'm aware that the value of bitcoins changes every hour) I'm able to spend around $500-$1,000 in Mining Hardware. I don't want to start Trading or Buying them (Yet)

You are better off investing in GPUs for Scrypt and Altcoin mining, and you will make 0.05 BTC a week quite easily. What hardware do you have now?

You'll need 25+ Ghash/s at this difficulty for that.  The difficulty adjusts, and only up recently, every 2016 blocks and targets for an adjustment every 2 weeks.

Like the vpasic said do your research before spending.

I got this computer 2 years ago
http://www.tigerdirect.com/applications/SearchTools/item-details.asp?EdpNo=1277091 (http://www.tigerdirect.com/applications/SearchTools/item-details.asp?EdpNo=1277091)
It has 2 Radeon HD 6770.
750 Watt power supply.

Have you ever tried scrypt mining? Are you mining with GUIminer?

Yeah, I am using GUIMINER.

How old are you?

I'm 14. Why does this matter?

I guess he considers GUIminer to be like training wheels? :)

14 year old with a thousand bucks to spend  ::)
Mining is a dead end for anything below 1500 USD right now, sorry kiddo.

Man use CGMiner. Can I get you on skype or something? I will gladly help you, unlike some people.

To earn BTC0.05/week you need 40Ghs at current difficulty

And, to maintain 0.05btc/week, you need to get more and more hardware after each difficulty adjustment (~ every 12-13 days).

Well, I know how to make 0.07BTC or more a week on scrypt.

Hey young man.

I wouldn't really listen to anyone's advice right now. If you have money to invest, don't invest in Bitcoin.

Invest in some new, promising alt coin. There are many out there.

You'll be risking your hardware.

It's better if you just buy BTC with the money you hold right now and convert in some other alt, then trade slowly.



Everyone has a different opinion. Everyone makes money. I make money on my own way.

( Plus, if you're really going to mine, ask your parents. You must be sure how much electricity you're going to consume per month. It might not be worth of wasting electricity )

I'll see if I can use my pc with Litecoins :)

Go for script mining, it has the best ROI generally. If you're looking at mining hardware then it's very hard to get your investment back these days. Best of luck.

forget it your too late
 :( :( :( :( :( :( :( :( :(

No, you could not.
Difficulty will rise every 2016 blocks (~12-14 days) and your revenue will drop.



No. You wouldn't get a good amount of bitcoin with 1.2 GH/s.
No. It doesn't worth it.

Mine scrypt, a lot more profitable.

Yup, with GPU, you should better mine scrypt coins.

I also have a question i am thinking on buying a 38gh for 380 do you think it would be worth buying. also  at my location i dont pay for electricity.

If you can get the hashrate right now, it could be profitable, especially you don't need to pay for electricity...
If it is a pre-order and the  delivery is expected to be done months later, forget it...

FYR: Mining profit calculator: https://cex.io/calc

YoungBitcoinMiner it's better to build a "mining Rig" if you do plan to mine Bitcoin exclusively.

It will never break even.

Exactly.
It is better to build GPU rigs for scrypt coin mining.
Or, simply buy bitcoin/litecoin directly.

Depends if you want to earn more money (BTC) or more useless pieces of paper ("REAL MONEY")

Honestly, I think you will make more profit just by buying and holding Bitcoins.

my 2 cents

I really hate reading this but it's has a much higher chance of yeilding profit than buying mining gear does.
I spent $1000 on mining gear and i only have 20gh/s to show for it. Which gets me about $3.5 a day (after elec costs)

Think of it this way, your not mining to earn money, your mining to gain some of the limited supply of bitcoins which in the future MAY be worth alot of money

Consider to buy Bitcoin instead of investing in mining gear.
More safe, more profit !

You really need to mine altcoins. profitability of LTC or Doge is MUCH MUCH higher. Seriously.