how does one make money?

[sincerecorn]

how do you make money off of this? from my rig:

~400w power consumption, 18cents for power, and  im at 360mh/s. im still losing money. how does someone make money? doesn't more graphics cards = more power consumption = higher power bill = not worth it?

[BlockChainLottery]

Nowadays the only way is to rent hashing power or to buy ASICs.
Otherwise you just have an electronic heater.

[ilou]

Another way to make money of this all is to sell rigs I presume, or to offer mining contracts off your rigs, or to provides services like mining pool or even better a trading place.

In other words I think if you are on the right product (coin) at the right time window you can make money, but the more it gets known the harder it gets.

And then those who make most profit out of it are probably those who sell services or hadware around the crypto currency world.

[ajax3592]

how do you make money off of this? from my rig:

~400w power consumption, 18cents for power, and  im at 360mh/s. im still losing money. how does someone make money? doesn't more graphics cards = more power consumption = higher power bill = not worth it?

If you would have mined DOGecoins for all last week with that miner, you would have had atleast $2000 right now  

[fast-pool.com]

im based on uni and all my rigs are located in uni on free power

[mucmalc3]

Best way would be to add a time machine and go back a couple of years? Sorry, sarcastic post I know.

[Spencer]

Honestly altcoins are about the only way to go for a normal rig like that.  I wish I'd gotten into Doges a week ago, seeing as they have an exchange now I believe.

There's plenty of 'profit switching' pools that pay you in BTC.  However, they basically assault whatever coin's network they determine is most profitable until another coin is more profitable.  Call me what you will, but I use them because I need short term cash/BTC.  I get about .004 BTC a day average with 310 kh/s on Middlecoin.  Hopefully I'll get a decent bit more once I hijack my brother's computer and get the 6770 in the mail.  I could hopefully double my kh/s for $35, which is the cost of the 6770 I got and am planning to slap in my PC alongside my 7870.    

Anyways, I'm not sure about other similar pools.  You could also just mine Litecoins, which is not looked down upon so much I guess

There's no real way to make much from direct Bitcoin mining with GPUs anymore.  Even if you had free power, your profits will be really small.  I'm not even sure I'd technically make money on Bitcoin mining with 310 kh/s and basically free to me power.  My parents pay $.05/kwh and they said it's no big deal if power costs go up a bit.  I think I'm using like $.15 of power per day so that's basically nothing considering my $3-5 a day profits that I've observed over the short term.  Litecoin mining would also give similar profits (same ballpark at least) at this point, I think.  I'm not super knowledgeable about them.  Pretty sure you'd turn a profit anyways.

[MargaretsDream]

how do you make money off of this? from my rig:

~400w power consumption, 18cents for power, and  im at 360mh/s. im still losing money. how does someone make money? doesn't more graphics cards = more power consumption = higher power bill = not worth it?

If you would have mined DOGecoins for all last week with that miner, you would have had atleast $2000 right now 

Obviously the  DogeCoins comment is joke, this coin does not have value 

To the OP: you have to mine scryptcoins with your GPU and exchange to Bitcoin

[ajax3592]

how do you make money off of this? from my rig:

~400w power consumption, 18cents for power, and  im at 360mh/s. im still losing money. how does someone make money? doesn't more graphics cards = more power consumption = higher power bill = not worth it?

If you would have mined DOGecoins for all last week with that miner, you would have had atleast $2000 right now  

Obviously the  DogeCoins comment is joke, this coin does not have value  

To the OP: you have to mine scryptcoins with your GPU and exchange to Bitcoin

Joke ? Absolutely not buddy the 1 million DOGecoins that I hold right now are worth 0.65BTC They are being traded on coinedup.com
and Cryptsy wishes to add them soon, Winklevoss were discussing about them on reddit.
It's heading towards $1 per DOGE in about 6 months and I'm holding mine for atleast a year.

Guess what, joke just turned into reality  

[monbux]

400w for only 300 MH/s?

You do know a USB miner running at 330MH/s is only like 2.5w power consumption right?
If your mining in MegaHashes, I suggest you stop, it won't really get you anywhere with bitcoin IMO.

[MargaretsDream]

how do you make money off of this? from my rig:

~400w power consumption, 18cents for power, and  im at 360mh/s. im still losing money. how does someone make money? doesn't more graphics cards = more power consumption = higher power bill = not worth it?

If you would have mined DOGecoins for all last week with that miner, you would have had atleast $2000 right now  

Obviously the  DogeCoins comment is joke, this coin does not have value  

To the OP: you have to mine scryptcoins with your GPU and exchange to Bitcoin

Joke ? Absolutely not buddy the 1 million DOGecoins that I hold right now are worth 0.65BTC They are being traded on coinedup.com
and Cryptsy wishes to add them soon, Winklevoss were discussing about them on reddit.
It's heading towards $1 per DOGE in about 6 months and I'm holding mine for atleast a year.

Guess what, joke just turned into reality  

Ok, sell before you cant  
The pump stage wont last forever  

[ElectricCake]

Some people actually pay for these coins for the novelty factor, like they will pay for a certain amount of Dogecoins and just keep them as a souvenir or as a thing they can laugh about from time to time.

[jongameson]

Some people actually pay for these coins for the novelty factor, like they will pay for a certain amount of Dogecoins and just keep them as a souvenir or as a thing they can laugh about from time to time.

except they aren't funny.  now if they had cheezburger coins aka icanhazfakecurrency...??

[hromobiti]

how do you make money off of this? from my rig:

~400w power consumption, 18cents for power, and  im at 360mh/s. im still losing money. how does someone make money? doesn't more graphics cards = more power consumption = higher power bill = not worth it?

Seems you have ATI 5850, I got 350mh/s when I mined Bitcoin early this year  

But today you have to mine Scrypt based coins, the speed is about 400 kh/s