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Title: CPU Mining | Is it worth it with these numbers? Post by: larsen161 on June 06, 2012, 02:24:06 AM I've just started mining after a day or so trying to get one to work and compile properly with my setup. Now that I'm up and running I'm wondering how rewarding the work being done is.
I've joined the deepbit.net pool and set up to use the Pay Per Share scheme. Server cost <= $0.01 / hr CPU mining generates ~27,500 khash/sec With this kind of setup is it worth it to continue? Thanks in advance Title: Re: CPU Mining | Is it worth it with these numbers? Post by: Hexadecibel on June 06, 2012, 02:35:07 AM short answer: No.
Long answer: Nooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo edit: ok, real response. I'm not going to bother (i.e lazy, can't, etc) doing the math, but 27.5K/hash is not going to cover the cost of even .01 an hour. Thats just my gut feeling. My gut is often right though. You should trust it. (I could be wrong) edit 2: ok, I just read the beginning of your post. 1: You should not be using Deepbit. You should be using a smaller pool, or better, P2Pool. Consolidating so much hashing power in one or two pools is not good for bitcoin as a whole. See my sig for more info on P2Pool. Oh, welcome to the mining club! So yeah, your mining at a loss right now, but hey, you can think of it as being a loss short term as you will (might) recover those losses eventually as the demand for bitcoin rises Title: Re: CPU Mining | Is it worth it with these numbers? Post by: deusstultus on June 06, 2012, 02:38:49 AM $.01 / hour >> calc .05 BTC /hour. Based on one machine I was playing with at similar rates, you're probably looking to average no more than 1 share / 2 minutes. Contributing to mining pools, that won't be a profitable return, most on the order of .0004 (estimate, haven't looked in a while, and veries based on block luck) / valid share. Take that on your own, and it's a gamble, but the odds aren't in your favor. Now taking into question efficiency or ease of translating USD to bitcoin through this method as opposed to others, and estimating long term value of BTC, this point could be argued, but frankly, no.
Title: Re: CPU Mining | Is it worth it with these numbers? Post by: Bitcoin Oz on June 06, 2012, 02:40:34 AM I remember mining 200btc with a pentium 4 cpu.
Those were the days :) Title: Re: CPU Mining | Is it worth it with these numbers? Post by: Hexadecibel on June 06, 2012, 02:43:36 AM I remember mining 200btc with a pentium 4 cpu. Those were the days :) *shakes tiny fist at you* Title: Re: CPU Mining | Is it worth it with these numbers? Post by: larsen161 on June 06, 2012, 03:21:18 AM great info so far. thanks for all the advise. lots to consider now and change just on the above
my next question would be is there any way to make the CPU more efficient? Am I getting the most out of this CPU per thread? I had a quick look over at https://en.bitcoin.it/wiki/Mining_hardware_comparison#Intel but didn't find the same CPU for comparison. I'm running cpuminer-1.0.2 compiled with CFLAGS="-O3 -Wall -msse2 -march=native" ./configure running on 2x E5-2670 @ 2.60GHz getting ~865.00 khash/sec/thread you're probably looking to average no more than 1 share / 2 minutes. I'm getting about 1 share / 1 minute it seems - is that right?? Code: [2012-06-06 02:56:13] 32 miner threads started, using SHA256 '4way' algorithm. Title: Re: CPU Mining | Is it worth it with these numbers? Post by: Hexadecibel on June 06, 2012, 03:26:10 AM www.butterflylabs.com
They make purpose built hashing hardware. I believe they are the most efficient around, doing something like 830M/hash@80 watts. for 600$ I think thats the best $/hash rate out there. I'm not sure, I haven't kept up on that stuff. CPU mining is not even worth it. but then, It hasen't stopped me from mining at a loss either :p Title: Re: CPU Mining | Is it worth it with these numbers? Post by: mc_lovin on June 06, 2012, 05:29:33 AM why not mine litecoins on idle cpus?
Title: Re: CPU Mining | Is it worth it with these numbers? Post by: Hexadecibel on June 06, 2012, 06:12:24 AM why not mine litecoins on idle cpus? because litecoins are silly Title: Re: CPU Mining | Is it worth it with these numbers? Post by: matthewh3 on June 06, 2012, 11:29:26 AM why not mine litecoins on idle cpus? I agree mining litecoins with CPU's is definitely more profitable than bitcoin. Title: Re: CPU Mining | Is it worth it with these numbers? Post by: Gabi on June 06, 2012, 11:59:16 AM Quote I've joined the deepbit.net pool A nice way to waste your income with fees Title: Re: CPU Mining | Is it worth it with these numbers? Post by: Riddleman on June 06, 2012, 05:09:18 PM Nope, sorry. You'll need a whole lot stronger rig for it to be worth it.
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