gwigokon (OP)
Newbie
Offline
Activity: 5
Merit: 0
|
|
December 01, 2013, 03:11:32 PM |
|
i'm pretty new to bitcoin and wondering if i could make any profit. Is it any rig which is worth to buy?? how much do i need to pay for a rig I got free electricity and should i mine btc or litecoins??
|
|
|
|
Jhonka86
Newbie
Offline
Activity: 26
Merit: 0
|
|
December 01, 2013, 05:19:52 PM |
|
Mining is a bit of an arms race, and nobody can tell you whether or not you will make money by doing so; there are just far too many variables at play. If you want to mine a sha-256 coin (bitcoin or the like), you should buy yourself an ASIC miner. A good place to check on potential returns is here: http://mining.thegenesisblock.com/ If you want to mine a scrypt coin (Litecoin or its children), you would need to build yourself a rig with a fair amount of ATI-based video cards (nvidia just don't have the same performance). There are also CPU-only mining coins, which might be the best way for you to learn about it. I recommend looking into Primecoin for that. I just can't recommend you spend over $1000 on mining if you've never done it before. Maybe get a block eruptor?
|
|
|
|
Itun
|
|
December 01, 2013, 06:40:25 PM |
|
Unless you get mining devices for really cheap, you most likely will not profit out of mining.
If price of btc increase as it is right now, then maybe youll get your money's worth.
But you wouldve gotten more money from buying btc now and selling it then.
I wouldn't recommend you start mining.
|
|
|
|
unknownrebel
Newbie
Offline
Activity: 6
Merit: 0
|
|
December 01, 2013, 08:16:08 PM |
|
I am not 100% sure, but I read somewhere, that it doesn't make sense to mine bitcoin with GPU rigs. But they are still ok for litecoin mining because there are still no asics for litecoin mining. It seems more profitable, you can calculate possible profit here: https://www.litecoinpool.org/calcyou can also find the hash rates and power consumptions of different rigs. Most profitable rig seems to be the one with Radeon 7950. See details in: https://litecoin.info/Mining_hardware_comparison
|
|
|
|
Litecoinminingco
Newbie
Offline
Activity: 1
Merit: 0
|
|
December 02, 2013, 12:49:26 AM |
|
For whatever it's worth I invested in some 7950 cards last year when everyone told me not to and needless to say between BTC mining at first and now LTC mining I've made out pretty good .
|
|
|
|
Eex77
|
|
December 02, 2013, 02:00:37 AM |
|
The main issue with mining is that the difficulty for many coins continue to ramp up. There is no guarantee how much of a profit you will make as it can very easily vary from day to day.
For instance a ASIC miner may have an average rate of .001 one day, then .0008 the next.
Another issue currently is that the price for miners depend on the price of BTC, meaning that in its current state it's expensive.
|
DOGE: D9X7qReZrCzkWefgt5FW55ENftoLiyvZHq BTC: 1NXinRxyWhuetk7VTqUE2xFepbFJUD4MZf EAC: epECRCi4eLytstZZiD57gXRoLwEJLgTgZx
|
|
|
biffosaur
Newbie
Offline
Activity: 1
Merit: 0
|
|
December 02, 2013, 02:58:12 AM |
|
Mining scrypt right now can be extremely profitable. I just put together more rigs this weekend and expect to pay them off within two weeks tops. I would suggest putting something together!
|
|
|
|
fonter
Newbie
Offline
Activity: 6
Merit: 0
|
|
December 02, 2013, 03:26:00 AM |
|
mining is not a good idea for now
|
|
|
|
defenestrator
Newbie
Offline
Activity: 1
Merit: 0
|
|
December 02, 2013, 08:03:40 AM |
|
So if I have a 7950 graphics card right now and free electricity is it probably worth it to mine some sort of scrypt based cryptocurrency?
|
|
|
|
Soappa
|
|
December 02, 2013, 09:46:04 AM |
|
So if I have a 7950 graphics card right now and free electricity is it probably worth it to mine some sort of scrypt based cryptocurrency?
If you have free electricity, you won't lose anything at all.
|
|
|
|
orescek
Newbie
Offline
Activity: 1
Merit: 0
|
|
December 02, 2013, 12:46:17 PM |
|
I was mining with 10 USB ASIC miners for 10 days and I didn't reach 0.01 BTC :S
|
|
|
|
Itun
|
|
December 03, 2013, 02:26:09 AM |
|
So if I have a 7950 graphics card right now and free electricity is it probably worth it to mine some sort of scrypt based cryptocurrency?
Go for it. If you have a GPU and free electricity, you have nothing to lose! Mine something like LTC until the scrypt ASICs increase the difficulty as it did for BTC. I was mining with 10 USB ASIC miners for 10 days and I didn't reach 0.01 BTC :S
Yeah, the difficulty is just too high.
|
|
|
|
gwigokon (OP)
Newbie
Offline
Activity: 5
Merit: 0
|
|
December 04, 2013, 08:55:43 PM |
|
how much will i earn per month with 3 amd radeon 7950
|
|
|
|
Damnsammit
|
|
December 04, 2013, 09:03:14 PM |
|
Do it! Altcoin mining has been profitable for me and still is... to anyone that thinks it isn't, I'm only using 2 cards right now and pulling 600KH/s, but that is getting about .3LTC a day or about 9LTC a month. At current rates that is over $360
I don't know how expensive your electricity is, but for my 850W PSU at $0.12/KWh that's only (24 * 30 * .85 * .12) $73.44 a month if it is actually pulling 850W from the wall (it is not) and it is on 24/7 (it is)...
so $286.56 profit to $73.44 expense... seems like a good ratio to me!
|
|
|
|
Ekolol
Newbie
Offline
Activity: 56
Merit: 0
|
|
December 04, 2013, 09:08:14 PM |
|
Mining is not good for now.. sorry
|
|
|
|
kryss
Newbie
Offline
Activity: 24
Merit: 0
|
|
December 04, 2013, 09:17:36 PM |
|
Mining is always good if you have free electricity or/and cheap hardware. Else, in this times, in my opinion it's better to invest some money on some exchange, and try to catch high's and low's
|
|
|
|
GhanaGamboy
Full Member
Offline
Activity: 191
Merit: 100
Dadice Fixed Rate.
|
|
December 04, 2013, 09:32:04 PM |
|
So if I have a 7950 graphics card right now and free electricity is it probably worth it to mine some sort of scrypt based cryptocurrency?
Go for it. If you have a GPU and free electricity, you have nothing to lose! Mine something like LTC until the scrypt ASICs increase the difficulty as it did for BTC. I agree, and exchange to BTC before scrypt ASICs shown up. You will be able to sell your GPU to get some more out of your GPU
|
|
|
|
Prolifik
|
|
December 04, 2013, 09:38:53 PM |
|
Having at least one mining rig isn't a bad Idea. It could make you rich one day.
|
|
|
|
gwigokon (OP)
Newbie
Offline
Activity: 5
Merit: 0
|
|
December 05, 2013, 06:27:27 AM |
|
Isthis calculation right if i got 1800kh/s??? i got free electricity
24 hours 0.88458882 LTC 35.19 USD 7 days 6.19212173 LTC 246.32 USD 30 days 26.53766455 LTC 1055.67 USD
|
|
|
|
Damnsammit
|
|
December 05, 2013, 06:28:09 AM |
|
Mining is not good for now.. sorry
Please elaborate. You seem ill informed.
|
|
|
|
|