Bitcoin Forum
December 12, 2017, 03:44:14 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Bitcoin Mining/Cost Efficiency U.K  (Read 826 times)
Zeatorius
Jr. Member
*
Offline Offline

Activity: 55


View Profile
January 17, 2017, 11:52:20 AM
 #1

Hello Everyone!

Today i am curious as to how people feel about mining bitcoin in two settings;

1. as A render farm with many pc's in a room all working.
2. with one home gaming computer running.

what cost's and profits would one expect with these two different set up's. Smiley

Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513050254
Hero Member
*
Offline Offline

Posts: 1513050254

View Profile Personal Message (Offline)

Ignore
1513050254
Reply with quote  #2

1513050254
Report to moderator
1513050254
Hero Member
*
Offline Offline

Posts: 1513050254

View Profile Personal Message (Offline)

Ignore
1513050254
Reply with quote  #2

1513050254
Report to moderator
mocacinno
Legendary
*
Offline Offline

Activity: 1064


http://www.mocacinno.com


View Profile WWW
January 17, 2017, 11:58:55 AM
 #2

Hello Everyone!

Today i am curious as to how people feel about mining bitcoin in two settings;

1. as A render farm with many pc's in a room all working.
2. with one home gaming computer running.

what cost's and profits would one expect with these two different set up's. Smiley

both 1 and 2 are obsolete... Mining bitcoin with a PC will result in negative profit.
Years ago, companies started making ASIC's, you can only make a profit if you have the lastest generation ASIC AND a very low energy rate.

Mining Altcoins with a gaming pc with a decent GPU might still be possible tough... Don't know how the profit scales when professionalising (1 GPU vs a GPU farm). I expect this to also be dependant on the HW cost and the energy rate

Zeatorius
Jr. Member
*
Offline Offline

Activity: 55


View Profile
January 17, 2017, 12:10:27 PM
 #3

Hello Everyone!

Today i am curious as to how people feel about mining bitcoin in two settings;

1. as A render farm with many pc's in a room all working.
2. with one home gaming computer running.

what cost's and profits would one expect with these two different set up's. Smiley

both 1 and 2 are obsolete... Mining bitcoin with a PC will result in negative profit.
Years ago, companies started making ASIC's, you can only make a profit if you have the lastest generation ASIC AND a very low energy rate.

Mining Altcoins with a gaming pc with a decent GPU might still be possible tough... Don't know how the profit scales when professionalising (1 GPU vs a GPU farm). I expect this to also be dependant on the HW cost and the energy rate

Blast I didn't know that; so unless you spend thousands to get state of the art with ASIC it's still a lost cause because of energy rates, what does HW stand for as well please.

mocacinno
Legendary
*
Offline Offline

Activity: 1064


http://www.mocacinno.com


View Profile WWW
January 17, 2017, 12:17:21 PM
 #4

Blast I didn't know that; so unless you spend thousands to get state of the art with ASIC it's still a lost cause because of energy rates, what does HW stand for as well please.

That's correct, it's a petty but that's the reality... I had to stop mining myself (also on EU power rates). Btw: even if you invest in latest generation ASICs, you still need a very good power rate... Personally, i think that if you pay over 5-6 cents/Kwu, the risk becomes to large even with the most efficient ASIC. Maybe, if you're a risktaker, you might be able to go up to 8-9 cents, but most EU domestic power rates make it impossible to mine with profit (you might still mine to support the network, or you might mine if you want to use the ASIC's heat to heat up your house, otherwise it's more or less a lost cause)

HW = hardware

You can do the calculations yourself if you want... Pick an ASIC here:
https://en.bitcoin.it/wiki/Mining_hardware_comparison

And compare it to the non specialised hardware speeds and power consumption:
https://en.bitcoin.it/wiki/Non-specialized_hardware_comparison

You can write down the hashrate and look up the power draw to achieve this hashrate, look up your energy rate and see how much the ASIC/non specialised HW costs (don't forget custom charges and shipping and handling)... plug everything in a tool like this one:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator
And you can see how much this piece of HW would earn you, at current diff, price and block reward (each one of these things will change over time, so your earnings will probably go down)

Zeatorius
Jr. Member
*
Offline Offline

Activity: 55


View Profile
January 17, 2017, 12:38:56 PM
 #5

Blast I didn't know that; so unless you spend thousands to get state of the art with ASIC it's still a lost cause because of energy rates, what does HW stand for as well please.

That's correct, it's a petty but that's the reality... I had to stop mining myself (also on EU power rates). Btw: even if you invest in latest generation ASICs, you still need a very good power rate... Personally, i think that if you pay over 5-6 cents/Kwu, the risk becomes to large even with the most efficient ASIC. Maybe, if you're a risktaker, you might be able to go up to 8-9 cents, but most EU domestic power rates make it impossible to mine with profit (you might still mine to support the network, or you might mine if you want to use the ASIC's heat to heat up your house, otherwise it's more or less a lost cause)

HW = hardware

You can do the calculations yourself if you want... Pick an ASIC here:
https://en.bitcoin.it/wiki/Mining_hardware_comparison

And compare it to the non specialised hardware speeds and power consumption:
https://en.bitcoin.it/wiki/Non-specialized_hardware_comparison

You can write down the hashrate and look up the power draw to achieve this hashrate, look up your energy rate and see how much the ASIC/non specialised HW costs (don't forget custom charges and shipping and handling)... plug everything in a tool like this one:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator
And you can see how much this piece of HW would earn you, at current diff, price and block reward (each one of these things will change over time, so your earnings will probably go down)

Ah sweet it may not be beneficial to mine personally but you've definitely helped me broaden my understanding and these calculators are top Notch Thank you i shall stick to investing for now. Zx

mocacinno
Legendary
*
Offline Offline

Activity: 1064


http://www.mocacinno.com


View Profile WWW
January 17, 2017, 12:40:41 PM
 #6

Ah sweet it may not be beneficial to mine personally but you've definitely helped me broaden my understanding and these calculators are top Notch Thank you i shall stick to investing for now. Zx

Be carefull when investing!!! There are a lot of scams/ponzi's out there. Never invest in sites promising "doubling" your BTC or receiving "x% profit a day"... Also, be very carefull when investing in cloud mining (99% of those are scams to)

Zeatorius
Jr. Member
*
Offline Offline

Activity: 55


View Profile
January 17, 2017, 05:15:56 PM
 #7

Ah sweet it may not be beneficial to mine personally but you've definitely helped me broaden my understanding and these calculators are top Notch Thank you i shall stick to investing for now. Zx

Be carefull when investing!!! There are a lot of scams/ponzi's out there. Never invest in sites promising "doubling" your BTC or receiving "x% profit a day"... Also, be very carefull when investing in cloud mining (99% of those are scams to)

i was told to look for a 10% profit margin as a good secure source for short term alt coin investing any other advice you think would be good for me to know Mocacinno?  Smiley
i

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!