Bitcoin Forum

So i have a ton of extra computer parts enough to build maybe 3 extra computers. not including my gaming computer. couple radeon 6850 GPU's, and one Radeon 7950 i believe. I have never mined, but I would like to get into it. I will be moving into a place where all utilities will be paid so It should take my electricity cost out... lol. HOpefully i dont use too much power and get the boot  :o lol.

Anyways like i said i have never mined before so i really dont know how to get this going or what software i need to get the mining started. I am tech savy like i can build my own computers. but as far as programing im not very good. Any help would be greatly appreciated.

I would like to use this as a second source of investing just to get some money on the side. I do have a regular job. thanks in advance guys.

Use your CPU or GPU ;)
for the details you can read this:
www.bitcoinmining.com/getting-started/
www.coindesk.com/information/how-bitcoin-mining-works/

if you have a question about mining problem you can make a conversation here: https://bitcointalk.org/index.php?board=14.0

Ah you can mine only altcoons unfortunately!

For bitcoin u require much ghs mining hardware

Sadly GPU/CPU days are really over.  Do some ROI math most likely you use more in electricity the you make.   And day's where GPU paid off the cards by mining seem long gone.

ahh i see, so nothing i can really do with these spare computers to make some consistant money on the side other then sell the parts obviously. ?

Ding ding ding!  We have a winner.

Unfortunately, the days of mining with CPU or GPU are long gone now.

You'd need what's called an ASIC to even mine a trivial amount of either Bitcoin or Altcoin.  With difficulty and hash rate the way it is now, you'd need a farm to even stay competitive.

Mining is a big boys game now, only industrial miners with cheap electric and a sweetheart deal with a manufacturer can keep up with the Joneses.

Sell your spare parts and buy a ASIC miner from one of the major companies.  That would be your best solution, especially if you have free electricity.  Be careful though, this forum is full of people who got in trouble for freely using "free electricity".  Remember, someone has to pay for it, and when that bill comes in they will be pretty pissed when its hundreds of dollars higher than it should be.

Before giving up, look into mining alt coins. There are CPU-only alt coins that you can mine and sell for bitcoins. There are sites like coinwarz.com that can help you pick the most profitable coins.

Can a landlord kick you out for using too much electricity? just curious if its included in the lease agreement. Yea i can get an ASIC miner seems to be alot fo different ones and the really small cheap ones come in bunches of 20 i guess at $38 each. Guess ill have to read up more on it. There is soo much information can be a bit overwhelming for newcomers.

I believe different states have different rules on lease terms, but generally I assume there is a provision in your lease that allows the leasor to basically do whatever they want.  (do more research if your worried about it, but keep in mind that mining uses a lot of electricity, basically you were talking 3 computers with probably 2 to 3 GPU's per computer, each one would use around 1 kw of power, thats 3 kw a month, just for computers, thats roughly $200 a month in electricity just for those, depending on the electricity rate.)

yes, there are many options, but research is key.  Read about each company and pick the model that best fits to your situation.  Some miners are hotter, some are smaller, some use more electricity, some use less, some are louder.  There are many numbers to crunch.

I would advice against this as it's a very underhanded thing to do if the landlord is a decent and reasonable person.

If however your landlord is an ass and you are determined read the small print of the lease beforehand, as there is usually a fair usage clause included when the Landlord covers the utilities, such as with a shared house (UK anyway).

Mining is not a way to earn income. It's a very risky investment, on which you win only if Bitcoin's price drastically augments. And even if it does, you'd have made more money by simply buying the coins and waiting for them to be worth more. Mining is only profitable for big companies nowadays.

it's less risky to start shorting btc nowadays then mining...really mining is dead, btc/altcoin all of them are not profitable, and don't trust pre-order company

sadly bitcoin mining with CPU/GPU days are over. i think the most profitable option for you is going to be mining altcoins. you can calculate your hashrate and income then decide if it is worth it or not

Unfortunately like they've told you mining has become somewhat centralized with people running massive ass farms:

https://www.youtube.com/watch?v=K8kua5B5K3I

So your best bet is mine an altcoin and sell on a pump, or dollar cost average to buy some btc monthly and stack up.

rent your gpu's computer power.

For instance you can use nicehash: https://www.nicehash.com/index.jsp

let's say you've ~10 MHs power to mine Xn algo coins (Xn = X11, X13, X15 etc).

Then you can earn up to 0.004 BTC everyday. (But I'm not sure if it pays your electricity bill ;D )

Most alt coins are just pump and dump coins so it is impossible to mine on them. Due to the fact that it is ASIC resistant, botnet owners can also point their victim to mine the coin, therefore causing the difficulty to increase and making mining unprofitable. Your best bet is to sell those parts and buy Bitcoins.

If you looking to make some income using those CPU and GPU's , mine alts not BTC
else just assemble them and sell the computer's and buy a miner

i dont think so he can mine altcoins much as well and bitcoins no way , there are not anything remain mining with cpu or even gpu so dont waste your time

It is possible if you have some GPUs and a hard disk and you're mining at Nicehash + renting storage.

   -MZ

Most desktop HDD are not very reliable. They may fail after sometime of heavy usage which is what renting storage to others can cause to your harddisk. SSD is not a very good option since they have limited read and writes.

I heard Storj allows you to limit both bandwidth and storage. So it would be good.

   -MZ

Bitcoin mining requires high-efficiency ASIC's (with 100's of GB or even ~TB) to get anything decent (In my opinion), So mining popular currencies restricted to GPU/CPU "if you have these" or even mining any alt-currency might prove to be more profitable IMO.

It's hard to be profitable while mining even for the GPU/CPU-only coins though, because most of the hashpower comes from guys who have optimized their computers to mine those, and also botnets.