Just starting out

[Kontsnor]

Hi all, as you might've guessed, I am kind of new to this forum (and bitcoins as well).

I've been trying to earn some bitcoins through the faucets, and other sites, but that is kind of slow.

So I figured I'd join a mining pool, to check how fast that would earn me BTC, and I kind of like how fast it's going. I get around 17.3 MH/s, which is not that much. (It kind of is, considering that it's on my notebook. (It's using a GT630M, so it isn't top notch either.)) So I've been looking at buying me some graphic cards, and buillding a custom mining PC. But I've been reading about Asics, or something? It looks like a couple of USB Sticks specially made for mining, or something? Could someone clear this up for me? I probraly didn't search well enough, sorry if that's the case.

So on to the main question. Which is more profitable? Buying some 7790 cards, or getting some asics. There's no need to worry about power usage, so the only thing I worry about is, what's the best investment, to get as much MH/s (or GH/s) for thebest price.

I know it's not all correct english, but it should be understandable 

Thanks fellow miners

[RodeoX]

Hi and welcome. 

You may be interested in sites like this one:  http://www.bitcoinx.com/profit/

[btcton]

Definitey ASICS. Good luck turning a profit with GPUs.

[Kontsnor]

Hi and welcome. 

You may be interested in sites like this one:  http://www.bitcoinx.com/profit/

Thanks, it is pretty helpful indeed

Definitey ASICS. Good luck turning a profit with GPUs.

Yeah, that's why I asked. I only (really) started 3 days ago.

[Birdy]

It's probably not profitable to mine for Bitcoins anymore.
You would be better off buying the Bitcoins on an exchange.

[bisbash]

Yep, the GPU days are over. Even the best mining cards aren't making a profit. Your card is costing you far more money to run in electricity than you'll make in Bitcoin. You could look at ASICs or mining alt coins but are probably better off buying coins these days.

[Kontsnor]

Yep, the GPU days are over. Even the best mining cards aren't making a profit. Your card is costing you far more money to run in electricity than you'll make in Bitcoin. You could look at ASICs or mining alt coins but are probably better off buying coins these days.

So hypotheticly, the electricity is free, would it be profitable in that case?

[Birdy]

Yep, the GPU days are over. Even the best mining cards aren't making a profit. Your card is costing you far more money to run in electricity than you'll make in Bitcoin. You could look at ASICs or mining alt coins but are probably better off buying coins these days.

So hypotheticly, the electricity is free, would it be profitable in that case?

Even then you have to break even with hardware costs and have to spend quite some time on this.
So the answer is...maybe. But probably not worth the effort.

[Kontsnor]

Yep, the GPU days are over. Even the best mining cards aren't making a profit. Your card is costing you far more money to run in electricity than you'll make in Bitcoin. You could look at ASICs or mining alt coins but are probably better off buying coins these days.

So hypotheticly, the electricity is free, would it be profitable in that case?

Even then you have to break even with hardware costs and have to spend quite some time on this.
So the answer is...maybe. But probably not worth the effort.

Hmm that's too bad.. Looks like I'm late to the party.

The worst thing is, I've heard about bitcoins a couple of years ago, and I thought it was a scam or something, so I didn't have any interest in it... If only I had known how it would grow...

[Birdy]

Hmm that's too bad.. Looks like I'm late to the party.

The worst thing is, I've heard about bitcoins a couple of years ago, and I thought it was a scam or something, so I didn't have any interest in it... If only I had known how it would grow...

It's the same for most of us, but if Bitcoin really is a success (e.g. taking the same market cap as paypal) there is still plenty of growth ahead.
(Keep in mind there is still a risk of it going to zero though)

[batt01]

If you just want to get you feet wet, buy a few usb block erupters.  One BE give you about 330 MH/s.
Cost is about .35 BTC. It may not ever make you a profit. difficulty is increasing at a incredible rate.
Currently my BE's only make about 2.45 USD a day. Power consumption is not an issue. I am using a Raspberry PI instead of a PC and it draws only 5 watts.

[Kontsnor]

Hmm that's too bad.. Looks like I'm late to the party.

The worst thing is, I've heard about bitcoins a couple of years ago, and I thought it was a scam or something, so I didn't have any interest in it... If only I had known how it would grow...

It's the same for most of us, but if Bitcoin really is a success (e.g. taking the same market cap as paypal) there is still plenty of growth ahead.
(Keep in mind there is still a risk of it going to zero though)

I know that, but when I heard about it, people would still mine using CPU's. So if I would've started mining back then, I would have quite a few BTC right now. That's what annoys me most of all

If you just want to get you feet wet, buy a few usb block erupters.  One BE give you about 330 MH/s.
Cost is about .35 BTC. It may not ever make you a profit. difficulty is increasing at a incredible rate.
Currently my BE's only make about 2.45 USD a day. Power consumption is not an issue. I am using a Raspberry PI instead of a PC and it draws only 5 watts.

I was thinking about getting the most basic ASIC from butterfly labs (the 5GH/s one), and according to my calculations (at the current difficulty) it should take me 2 to 3 months to break even, assuming the electricity is free. That's one of the reasons I'm interested in buying an ASIC. If someone could confirm that my calculation is even slightly correct, that would be awesome.

edit: Let's say it is 300 dollars (forgot to calculate shipping with it), so I'd say 4 months to break even.

[Birdy]

I was thinking about getting the most basic ASIC from butterfly labs (the 5GH/s one), and according to my calculations (at the current difficulty) it should take me 2 to 3 months to break even, assuming the electricity is free. That's one of the reasons I'm interested in buying an ASIC. If someone could confirm that my calculation is even slightly correct, that would be awesome.

edit: Let's say it is 300 dollars (forgot to calculate shipping with it), so I'd say 4 months to break even.

Butterfly Labs is known for very very delayed shipment, better read up on that before ordering from them.
If you have it now, you might break even. But will you still break even when you finally have the miner in your hands?

[Kontsnor]

I was thinking about getting the most basic ASIC from butterfly labs (the 5GH/s one), and according to my calculations (at the current difficulty) it should take me 2 to 3 months to break even, assuming the electricity is free. That's one of the reasons I'm interested in buying an ASIC. If someone could confirm that my calculation is even slightly correct, that would be awesome.

edit: Let's say it is 300 dollars (forgot to calculate shipping with it), so I'd say 4 months to break even.

Butterfly Labs is known for very very delayed shipment, better read up on that before ordering from them.
If you have it now, you might break even. But will you still break even when you finally have the miner in your hands?

I'm glad I asked... There's more to it then I initially thought.

Thanks for all your help... I might need to take a better look at it, before starting out.

[mprep]

Welcome. One of the better ways to earn is to think up of an idea that hasn't been realised and turnnit into a business.