Bitcoin Forum

Hi all,

I have an IBM x336 Type 8837 eServer 1RU(recently gifted). It's a Xeon 3.0Ghz with a 4Gb RAM.
I'm wondering if it is worthwhile trying/attempting to do any type of mining with either BitCoin or a different coin? i.e. Litecoin, PrimeCoin, DodgeCoin etc.
As you can probably guess, it doesn't have a video card, so I would be cpu mining.

Would it be worthwhile to even attempt to do some mining with this machine? It's sitting there doing nothing at the moment.

Also, was looking around and came across a suggestion to use middlecoin.com. Has anyone used this site before, and if it is worth mining with the above, would it then be worth using this site?

Cheers,
Skimmer.

You could have made a few dollars a day on CPU centric coins 2 months ago.   Today you would be spending more in electricity mining than you could earn in coins.  So unless you have free electricity, no point in mining.

Definitely not bitcoin. Maybe one of the CPU-only alt coins.

Not really.  Look at all the previously CPU centric coins - they are all getting invaded by GPU miners.  Also the trading ratio of these coins has crashed over the last 6 months.  XPM for example went from 0.0069 to 0.00061 - a magnitude drop.  You could make a dollar or two daily in January, now you can't make a profit.

Interesting information. So the age of CPU mining is completely over even for altcoins now, right? :)

I kinda have free electricity. I have to pay a fixed utility price a week, so may as well use it up :)

I've taken a look at the cpuminer on this forum (https://bitcointalk.org/index.php?topic=55038.0) and have that ready to go.
Just unsure on how to use it properly, or if it is to be used at all for coins like LiteCoin and PrimeCoin.  Which was why I thought about using that middlecoin website.

Cheers,
Skimm

Bitcoin started off with CPU mining in 2009.  It currently uses ASICs which are about 1 million times as powerful as a CPU.  Same thing for Litecoin, it started off with CPUs but then went to GPUs which are 100x as fast and now ASICs are arriving there too which are about 10X that of a GPU.  Same with Primecoin (XPM) - it started off with CPUs last year and went to GPUs this year.

You would make about 15 cents per month mining Primecoin.  You would not even make 1 penny a month mining Litecoin.  Even with free electricity unless a new CPU only coin comes out you can't make any money past a few cents - sorry you're late to the party :(

You wouldn't be making profit in BTC IMO considering the current high difficulty and even the ASIC's aren't making so much now. Maybe a CPU currency -preferably new and not of the ones with an already-big network would do. But of course in that case that currency would be only a few satoshi's worth currently.

I have 3x r9 290x and even those aren't really worth it anymore.

I sometimes mine with them when new promising coins come out but usually sell them at a bad time and don't really profit that much.

I wouldn't have my hopes up for mining with gpu's anymore. Only thing you can do is blindly choose a coin you think will make it far in the future and mine it every day and hope that it will pay off in the end.

What I'm mining right now is Myriad since I believe the multi-algo will become really popular later on.

Nowadays quite difficult for mining to be worth while. Probably would have to get hardcore equipment (TH/s) for a really really cheap price to be able to make any kind of decent money.

Yes, it is worth it if you mine CPU coin but be quick, it is going to go all GPU soon.

Nobody has posted this link (http://www.cpucoinlist.com/) yet?


Don't bother mining Bitcoin with your rig. CPU mining became worthless in the very early days of Bitcoin mining. GPU mining became worthless last year when ASICs hit the scene.

The same has happened/is happening with Litecoin. It was once mined by CPUs, then by GPUs. It's still mined by GPUs today but ASICs are coming out that are far more efficient and powerful. Soon it will no longer be profitable to mine Litecoin with even the most high-powered GPUs.

Your best bet would be to mine CPU coins. That is, coins which use an algorithm that can't yet be mined with GPUs because a GPU miner isn't available or coins where GPU mining provides little or no advantage. Check out the link that I posted above. The selection of coins that you can mine with your current setup is limited, but they do exist. For example, there is Bytecoin and Monero (both anonymous coins) and Riecoin (a coin very similar to Primecoin).

Once you have mined these coins, you can either choose to keep them - or trade them for bitcoins on an exchange.

Which altcoin is still CPU-only at the current moment?

AFAIK none.
Even cryptonotes are mined by GPU's recently. You can try Boolberry, I believe it's still CPU only but not sure.

I knew that the CryptoNight algorithm has become GPU-mineable.
For Boolberry, here is what I found.

https://bitcointalk.org/index.php?topic=639753.msg7455559#msg7455559

you can mine monero,monero will rise and you can gain some $

None, all cpu coin has been attacked by GPU.

At the moment, only a CPU miner exists for Riecoin (RIC). Don't know if there are any others like it however.