Looking for advice.

[Chrithu]

Hey folks.

I'm a newbie (obviously). I just stumbled upon bitcoin two days ago when seeing a TV report about it.

I read into it an found it an interesting concept. Since I have this fabulous, yet a little outdated gaming rig I figured I'd give mining a shot. So I setup the original bitcoin client and guiminer and started mining in the BTCGuild Pool with my 2 5750s.

My Hashrate is at 300 MH/s, which nets me roughly 0.015 BTC per 24 Hour period. I calculated it through, since my rig is running 24/7 anyways, since I do work on it besides gaming, I am in fact making a slight profit at this rate provided the BTC exchange value stays roughly where it is now or above. The great thing is, that I had no initial costs, because I had this rig already.

Still my questions are:

Are there pools that are more profitable?
How likely is BTC to at least maintain it's current value?
At that rate, would you continue to mine or would you suggest getting BTC by simply buying them, working for them, or selling stuff for them?

[Kleo]

I would buy some, and keep mining. The value 5 years from now could easily be $1000's per btc

it's worth the chance!

[Chrithu]

Thanks for the reply. I will think about a way to get ahold of BTC besides mining.

I just wondered: In the TV report that I saw it was mentioned that there is a hard cap on the number of bitcoins that will be produced through mining. Is there a way to see how many bitcoins are in existence in total?

[slappo]

Are there pools that are more profitable?

Slush's pool is the best around. High payout and tons of support when you need it!

Website: https://mining.bitcoin.cz/

Forum: https://bitcointalk.org/index.php?topic=1976.0

[soniq]

Here is a site with a bunch of information http://bitcoinwatch.com/

Diversify, keep mining as long as possible and buy or barter for coin

[Barklad]

You say your computer is always on any way but I would make sure you're not running at a loss ($/electricity wise) before continuing to mine.

[Chrithu]

You say your computer is always on any way but I would make sure you're not running at a loss ($/electricity wise) before continuing to mine.

Thx. Already did that. As I use the rig for gaming and work anyways I just took the extra electricity needed for mining rather than being in standby (as far as the GPUs go) and that is fine taking the current BTC - € exchange rate. As I said: Provided the BTC value is above ~100€ at the time I put the mined BTC to use I am making a profit from mining.

[DeathProxy]

You can also try litecoin I think. they are also other crypto coins that is still easier to mine.

[Hei_]

Are there pools that are more profitable?

Slush's pool is the best around. High payout and tons of support when you need it!

Website: https://mining.bitcoin.cz/

Forum: https://bitcointalk.org/index.php?topic=1976.0

its not the best. it gets hacked much. DDos ateckt much.

just goto bitminter or BTC guild