Bitcoin Forum

Many say that there's no point in mining bitcoins anymore unless I invest a lot into buying ASIC miners. They say so cause it's difficult to mine bitcoins. Is that true?

How many bitcoins do you mine a day and what's your H/S?

I mined in the beggining. I still have a few USB miners going while I use my computer.. Only about 0.01BTC every couple of weeks :(
most of mine come now from trading on the markets and also mining other coins

Mining is very profitable and I only got into it 6 weeks ago... what are y'all complaining about?

Sarcasm? how many bitcoins do u generate a month and what's the hash rate?


But USB miners are supposedly way less powerful than even GPU miners. And you only mine when you use the computer hence the 0.01BTC is quite good.

You need to take 2 things into accounts:
- There are a lot of other coins beside bitcoins. As Kronus87 suggested, it might be more worthy to mine other SHA-256 based coins and trade them.
- Price of alt-coins is constantly going in up. The 0.01 mentioned are currently worth 10$. Next year, these might by worth 20 or 30$.


Depends. Smaller USB-key sized miner (like block errupter) are mainly targetting efficiency. They don't output a lot of MHashes/sec. But on the other hand, they consume only a very small amount of Watts.
For serious mining, miner tend to use a big quantity of them on a big multi-port hub.

There's bitcoin mining, and then there's mining to get bitcoins.

I run 9 7970 GPUs, scrypt coins at 6.2 Mhash. The past week I have made on average 0.15 BTC per day, even 0.2 on one of them. I traded the coins immediately to BTC, which in hindsight cost me quite a lot of possible profit. It's not likely to last very long, but right now a few multi purpose GPUs I bought used are outperforming many SHA asic systems in terms of return.

Probably won't last forever, though who knows. Maybe there is some self correction going on which favors the very distributed little guy mining.

mining itself would be extremely profitable, especially as long as the price keeps going up. The problem is having the hardware and having it now: the point is that if you buy/pre-order today you don't know what are going to be the market conditions at the time you will actually get the HW (which might be several months later).

Making a reasonable estimate now is relatively simple: you just need to consider the cost of HW, the cost of electricity, the value of BTC and the ratio between your H/s and the total computational power of the network. The problem is that trying to forecast the last 2 values even just 2 months from now is meaningless, as the future price could easily be 10 times more or 10 times less

PS: this only applies for BTC mining, as per alt-coins mining I have no direct experience but what the other guys are saying makes sense  ;)

Not sarcasm, just a KNC Jupiter. It generated 1 btc per day when it arrived, now it's down to about 0.4 per day.

The price explosion brought the ROI target in BTC down significantly. It has generated 26.5 BTC by now.

25 GH/s 0.02 BTC/day

Doesn't it depend on energy cost?  and also what you think will happen to future price of btc.  If it keep going up, you're golden.  I mine for fun, a little, mostly alt coins

The short answer is yes.

You just need to do it intelligently.

buy, wait, trade !

If you have mining gear the BEST way to earn anything would be to contract it out to all the newcomers to bitcoins, they jump rigth on the minetrain without really knowing much about it.

15 GH/s (shares in 2 Group Buys of KNC Jupiter) nets me about 0.08 btc a week
10 Gh/s (Block Blade) nets me about 0.007 btc a day
2.5 Mh/s (GPU's mining altcoins into btc) nets me about 0.03 btc a day

Group Buys are worthless; the only people making profits are the organizers.
Bitcoin mining using ASIC's are becoming worthless.
GPU mining altcoins are very profitable, no wonder you can't find AMD Radeon GPU's anywhere anymore.