Bitcoin Forum

I am running a bit mining program with deepbit and I am getting around 100 MH/s. Is this a normal rate or should I be getting more bitcoin per hour? I have been running it for 6 hours and have only gotten 0.05 bitcoin. What rates do you get with what processing power? :( Should I be using a mining pool? Should I have a different mining pool?

Thanks :D

that's a normal amount. remember, bitcoin isn't a get rich quick scheme. ;)

1. Find useful skill
2. Sell the products of your useful skill or sell the use of your useful skill for Bitcoins
3. Receive Bitcoins!

This guy: http://ncarlson.com/post/5493803214/bitcoin-experiment-first-job-offer (http://ncarlson.com/post/5493803214/bitcoin-experiment-first-job-offer)
made a decent number of Bitcoins in 12 hours...

As of today, I suspect that mining is not profitable any more, unless you already have the video cards.  Honestly, I think it passed a couple of weeks ago.

If you buy hardware for mining, you will probably never make your money back

That said, lots of folks still hopping on.

Check the wiki to see what you should expect for hashing rates with your equipment.  https://en.bitcoin.it/wiki/Mining_hardware_comparison (https://en.bitcoin.it/wiki/Mining_hardware_comparison)

How did that guy make 314k bitcoins then -eye twitches-

EDIT: Oh, I see. Lots of people mining = very little bitcoins per person. That guy must have been doing this since the start of bit coin (or around that). I guess I was too late :P

For starters, don't join the pool with the biggest fee...

Buy yourself a radeon hd 5870 card for about $200. With 350mhash/s you'll get 1.3 BTC/24 hours. That's 39 BTC/month. It's about $273 with current rate of 7 USD/BTC. Not counting electricity bills. Most likely the BTC exchange rate will go up after difficulty increase, so you'll get even more than $73 profit in return.

THIS is the kind of MISINFORMATION people need to stop spreading so people like stop asking obvious questions like this.

The price of BTC exchange does not depend on the difficulty. Just because it has for the past month and there seems to be correlation between the two doesn't make it so.

It's infact the opposite. The price is based on supply and demand not difficulty. Right now the demand is up because of the hype and spreading of bitcoin misinformation such as above post  are attacting people thinking they will make easy money. This is again obviously not so.

Allright, even if the exchange rate won't go up it's still "$73 - electricity" profit :) The supply is generated by miners, so it's tightly related to difficulty. Demand is not related to difficulty though. But bitcoin is designed to be limited to 21 million coins. So unless something bad happens it's really attractive for risky investments.

Again you are going off a tangent making no real sense, but spreading misinformation. Yes, demand is not related by difficulty as I mentioned. People starting to swap difficulty for demand is ridiculous. Also, just because something is limited, it does not automatically give something more value either without demand. Demand cannot be created by making it hard to make bitcoin which is what difficulty is.

And noone should be taking any investment advice from anyone here on the forum. I have a series 7 license to sell and trade stocks and I don't give out advices. With so many uneducated guesses of recent new young audiences of bitcoin, I would also read all threads with a grain of salt. Myself included as well.

It's not kind of investment advice. I am not suggesting to buy a data center. I suggest buying just a video card rather than buying bitcoins. Even if something goes wrong with bitcoin, you'll still got a decent videocard. And it increases strength the network, rather than just pump the market rate.

just pray for higher coin price like I do :) I'm on hd48xx too :)

Praying is a sound investment strategy. I recommend to all.  ???


Reading the suggestions of people without all the proper knowledge and research behind with a grain of salt is what i'm trying to get accross. This is exactly what you are doing still. At current difficulty rises along with hardware cost, not including the other costs and variable price of bitcoin, buying btc rather than mining can and may be more profitable. And yet you are still here telling people otherwise and you actually no clue as to what btc price might be tomorrow or even a 30 minutes from now.

People are throwing out these types of "suggestions" where the entirety of their statement is based on a guess and a good feeling about btc and nothing more. THIS IS WHAT I DON'T WANT. These types of guesswork and suggestions don't really help anyone with anything.

Litt, you sound like trolling. While you say that nobody have a clue about what btc price might be tomorrow or even a 30 minutes from now, you still suggest that buying btc may be more profitable. In this case buying bitcoins is an all-in stake. Buying yourself a piece of hardware that you can play games on in case things with bitcoin won't go very well seem to be more reasonable.

Anyhow, this topic is about person who asks "how do I get more BTC"? Some people suggested buying bitcoins as investment, I suggested buying a video card with my rough calculation that it should be profitable. And what is your reply? Don't listen to them, they are all idiots. I am market guru. Okay, we got it. You're the market guru. So, how does he make more BTC?

I've made 10BTC the last month with a hashrate of ~70MH/s. I mine about 16h/day and have a 5850 to setup tonight which will run at approximately 300MH/s. It costed me to what equals about 150$ and considering I've made 10BTC the last month with ~70MH/s I should make about 3,5 times more at current difficulty. If difficulty would be the same for another month (It won't but still) I would make 35BTC which equals to 245$ at current exchange rate ($7/BTC).
If difficulty doubles the next month I would still almost have to money to buy another card.

And if something goes wrong, I still get a decent GPU which I need. Besides, I can continue to use my old one for mining for even more profit.

I'm not interested in making $$$, just making a damn good GPU deal ;)

Guess someone beat me to the punch. Well, my calculation wasn't too bad anyways :P

I tried mining on a HD 7970. She did not bring the income of more than $ 2 a day. So I'm sure your results with the HD 5870 it's fantastic. Show a screenshot with such results. I'm sorry if some people will believe you and spend all the money.

This thread is from over 6 YEARS ago, when GPU mining was a new thing.  This thread has NO relevance to today's mining environment which requires an ASIC hardware miner.

There was no reason the resurrect this REALLY OLD thread.