[Just starting noob. Not retarded] Better off on my own?

[awesomey]

At this point it is hard to earn money mining. Although many are anticipating the release of ASICs, I have my doubts they'll see the light of day for at least a year (if not more). That said, it doesn't hurt to just set up a miner to give you some 'trickle-in' BTC, just don't expect to make a ton of money.

Also, be really, really careful with your wallet. Your wallet is golden, store it safely, and securely, and as much as possible, offline.

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[gweedo]

At this point it is hard to earn money mining. Although many are anticipating the release of ASICs, I have my doubts they'll see the light of day for at least a year (if not more).

Really? What information do you have to back this up, pyramining, will have an ASIC within the next 2-3 months. Remember BFL doesn't make the only ASIC in town. Check your facts.

[awesomey]

At this point it is hard to earn money mining. Although many are anticipating the release of ASICs, I have my doubts they'll see the light of day for at least a year (if not more).

Really? What information do you have to back this up, pyramining, will have an ASIC within the next 2-3 months. Remember BFL doesn't make the only ASIC in town. Check your facts.

See that's just the problem, there is a lack of factual information, just lots of claims (ever heard of vaporware?). There are several "businesses" that have all claimed they are coming out with an ASIC, but have yet to provide any solid evidence. People are dumping their btc into these preorders with no guarantee they are going to get anything.

[majorddf]

Research litecoin, that is where you are going to want to point your rig when ASICs roll in to town.

[paraipan]

I also just found out I can play Fallout New Vegas at max graphics and several HD retextures at 55fps while mining.... :|
I think it'll be more than 18 hours / day if I can still use the GPU. I might also hijack my computer at the community college to mine 24/7.

Nice to hear that, but always make sure you ask for permission before using anyone else's computer for mining bitcoins 
Consider yourself whitelisted, so now you can use the forum like every established member around here.

Btw, you have your bitcoin address handy?

[Owndapwn]

Btw, you have your bitcoin address handy?

Thanks for the whitelist, and yea, assuming it's the one entry in the address book.
If not, then I'm set to send my coins to some other bloke. xD

The twenty computers in the shop are owned equally by me and two other friends who have a sort of join repair service, and sometimes clients decide it's not worth repairing.
The one at school might lack the cooling to run it on, but the teacher would be more interested in how it works than anything. And I've only done just enough Black Hat activities to be a better White Hat.
Or light gray.
No worries, I won't be amassing an army of BTC slaves.

[paraipan]

Btw, you have your bitcoin address handy?

Thanks for the whitelist, and yea, assuming it's the one entry in the address book.
If not, then I'm set to send my coins to some other bloke. xD

The twenty computers in the shop are owned equally by me and two other friends who have a sort of join repair service, and sometimes clients decide it's not worth repairing.
The one at school might lack the cooling to run it on, but the teacher would be more interested in how it works than anything. And I've only done just enough Black Hat activities to be a better White Hat.
Or light gray.
No worries, I won't be amassing an army of BTC slaves.

Heh, I won't 

Paste your address here then, you never know when someone decides to give you a hand with your projects

[Rotsor]

Given that people are dicks and would just leave an old Pen4 running the mining on the CPU and taking a full share of the coins

What 
What full share are you talking about? Pool or no pool, CPU mining barely get you anything at all, lol.

[Owndapwn]

1nN9gUPT1ZtUdruCcevTueKQNY2UNQeC3

I am not sure how pools are divided. If its divided based on time spent mining, and not just a way to be steadily paid the same amount you would make solo mining, it could be exploitable. Mine 24/7 at 400KHash and get paid the same as everyone else....

[paraipan]

1nN9gUPT1ZtUdruCcevTueKQNY2UNQeC3

...

Got it, here you go 73ddc8..., spend them well  

[jwzguy]

Break even?
With power costs, I'd make $35 a month, and that's assuming my computer is at it's full 518w draw (Which it wouldn't be. It'd be closer to 320w).
IF I wanted to, it could buy a second 7970 GHz (At current price) in less than eight months. But, considering I'd probably get a PhysX card instead, that would certainly help with funding Steam games.

Oh, if I had a nickel for every time a newbie calculated profit per month based on the current difficulty and projected earnings for the next x months. 

Unfortunately for GPU miners, (with the exception of 2 weeks ago) the difficulty has been increasing approximately ~8-10% every ~12 days for the last several months due to more FPGA hardware coming online. Your calculations assume no new power will be added to the network - this won't be true even without ASICs, which are expected to ship within the next month. When ASICs mining truly begins difficulty will increase incredibly quickly and GPU mining won't even be worth the wear on your equipment.

If you want to buy a card for gaming, go for it - just don't expect to break even. It's not going to happen.

[Rotsor]

I am not sure how pools are divided. If its divided based on time spent mining, and not just a way to be steadily paid the same amount you would make solo mining, it could be exploitable. Mine 24/7 at 400KHash and get paid the same as everyone else....

Oh, OK! You see, the pool money is not divided based on time spent mining, otherwise people would have to run a bajillion of miners on a single PC to have a chance of getting anything.

The pool earnings are distributed based on the number of solved "shares", where "share" is just a block with reduced difficulty. Most of the shares are useless to the pool because they do not solve the block. However, they are used to demonstrate the effort spent so that when the winning share is found, the winnings can be distributed fairly.

[Owndapwn]

Got it, here you go 73ddc8..., spend them well  

._.
Thanks, man!

I never really expected to make an insane amount, but I was told the same thing about GPU mining being dead two years ago when I briefly looked into it and found my FX 5200 wouldn't do anything.

[goodbc]

Are you for real?