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Author Topic: Is it worth it?  (Read 1226 times)
ssraid
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August 19, 2011, 07:33:06 PM
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 Is it worth it for people with low hash speeds to bitcoin mine?  With my lows speeds of about 100mhash/s, is it even worth it to mine considering on a mining calculator i'd only end up with about 14$ a month. lol   Is mining only profitable for ppl with expensive rigs pushing a high hash rate, or can someone like myself with a low speed make it a semi-profitable venture.   I think the concept is really cool and I'm enjoying playing with it.  Tongue    Anyways, thank you for your time and patience. Smiley   oh, and thank you in advance for any replies. Cheesy
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ElectricMucus
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August 19, 2011, 07:47:26 PM
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Well I'm planning on a fairly low speed mining rig myself, 200-300 and max ~900mhash depening on whenever I'd find "my cards" on ebay Wink

If you want to make profit you'd have to wait for the next rally but that could be a long time considering the current situation. The time where you could make direct profit was only during the peak of the rally and that was very short.

But that said I will probably never sell my bitcoins I make with current technology and wait till I can use them for barter or I can get my hands on something more efficient than gpus in which case I might sell some I don't need, but only to buy more of that stuff Wink

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
coinhammer
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August 19, 2011, 08:23:44 PM
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Since you seem into it, and already paid for the equipment, and if your electricity costs less than what you stand to collect, then why not? Many folks do it just for fun, as long as it doesnt cost you an arm and a leg.
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August 19, 2011, 09:15:55 PM
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Is it $14 that you would've had otherwise?

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therealgalt
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August 19, 2011, 10:25:10 PM
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If your computer can do it, then why not? But, if you are looking to spend money on a rig, though, I would instead just spend that money on bitcoins right now. Bitcoin prices are only going to go up in the long run, and getting as many as you can right now is the best strategy IMO.
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August 19, 2011, 10:28:49 PM
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If your computer can do it, then why not? But, if you are looking to spend money on a rig, though, I would instead just spend that money on bitcoins right now. Bitcoin prices are only going to go up in the long run, and getting as many as you can right now is the best strategy IMO.

Awww come on, its much more fun to "grow" your own!

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August 19, 2011, 11:19:42 PM
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If your computer can do it, then why not? But, if you are looking to spend money on a rig, though, I would instead just spend that money on bitcoins right now. Bitcoin prices are only going to go up in the long run, and getting as many as you can right now is the best strategy IMO.

Awww come on, its much more fun to "grow" your own!

 Roll Eyes
It's funny how people try to talk a single person out of it, like it's make a difference.

If you'd like to decrease difficulty you'd either would have to make a successful FUD campaign or screw difficulty and work on a new technology...  Tongue

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ssraid
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August 20, 2011, 01:38:02 AM
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True is it 14$ I wouldnt have had.  I'm just not sure its worth it to run my computer all the time.  I'm kinda worried about the longevity of my video card too.   It is actually pretty fun to see how many its made even if it is only 0.02btc.
Albert
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August 20, 2011, 11:04:44 AM
 #9

I myself have been sitting on a slightly old, but fairly up to speed rig; a good CPU (AMD Phenom 4X) but clearly the GPU is where it is on the mining scene, and the best I've got is an HD 4XXX series card (I forgot the specific model #). If I get such a rig setup w/ say, that custom linux distro for mining, could I get my system working well enough to get a bitcoin or a few every week? Or would I have to hunt down a stronger card?
Elder III
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August 20, 2011, 05:46:20 PM
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I myself have been sitting on a slightly old, but fairly up to speed rig; a good CPU (AMD Phenom 4X) but clearly the GPU is where it is on the mining scene, and the best I've got is an HD 4XXX series card (I forgot the specific model #). If I get such a rig setup w/ say, that custom linux distro for mining, could I get my system working well enough to get a bitcoin or a few every week? Or would I have to hunt down a stronger card?

I have approximately 2.5-2.6 G/hashes between my systems.  I can reasonably expect to average 1.5ish BitCoins per day.  You would be lucky to get 0.5% of my hashrate, even with one of the best 4000 series video cards.  I don't intend to discourage you, but unless you have a 5700/6700 series or higher it's probably not worth the cost of electricity and you could expect to lose money in most places (depends on your electricity rates).
ssraid
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August 21, 2011, 08:28:58 AM
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If you are lookin to see how much you will make with your current card you can look it up here:

https://en.bitcoin.it/wiki/Mining_hardware_comparison

Find your card and put you hash rate into:

http://www.alloscomp.com/bitcoin/calculator.php

You can look up exactly what card you have with:

http://www.ozone3d.net/gpu_caps_viewer/


 I myself get a very low hash rate.  Equals out to be 14$/month with the current exchange rate.  I ended up hooking up all my computers in the house to mine.  I'll end up with about 45$ a month which isn't really to bad will be enough to get another video card soon.  I already have plans to build a new rig.  -_- damn you bitcoin you are addicting.  There is a nice hardware guide out there if your interested I can post up a link. Smiley 
GhostGum
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August 21, 2011, 01:42:04 PM
 #12

Don't forget to factor in electricity prices.

Here in Australia, at $0.26/kwh it is not profitable with my 170mh/s (ATI 5770).
whmcr
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August 21, 2011, 03:48:10 PM
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In the UK with the recent energy prices increases on the major suppliers (were we're talking upwards of 0.15p / kWh) its not profitable the 160MH/s that I'm getting
sn0w420
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August 21, 2011, 05:31:11 PM
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Still profitable where I live in Ontario, Canada... but only because I have already paid my hardware off at this point.
Albert
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August 22, 2011, 02:57:59 AM
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I have approximately 2.5-2.6 G/hashes between my systems.  I can reasonably expect to average 1.5ish BitCoins per day.  You would be lucky to get 0.5% of my hashrate, even with one of the best 4000 series video cards.  I don't intend to discourage you, but unless you have a 5700/6700 series or higher it's probably not worth the cost of electricity and you could expect to lose money in most places (depends on your electricity rates).

Righto! So hunting down a new card, it is then.

Thanks!

Would such cards stuck into a cheap system, such as a custom built Sempron, slow things down any? I mean, its the card alone that needs to do all the work, right?
pirateat40
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August 22, 2011, 03:43:04 AM
 #16

Mh to Electric usage is key.  Its almost always worth it to mine or we would not be spending millions to do it. Smiley

hash
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August 22, 2011, 05:09:50 AM
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The electricity costs is terrible...
Prattler
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August 22, 2011, 12:16:21 PM
 #18

It's always worth it you are fascinated about the bitcoin technology and want to be a part of it! What can be better than enhancing the network security?

Run a bitcoin node, mine solo or on a small pool and make the network stronger!
Albert
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August 22, 2011, 12:27:35 PM
 #19

Ah yes, a mining pool. I'll look into that. And starting off with something midrage (300-500 MHash/sec) would be much easier.
Prattler
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August 22, 2011, 12:32:20 PM
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https://en.bitcoin.it/wiki/Comparison_of_mining_pools

If you're a fan of bitcoin, stay away from the top 3 pools and choose some smaller one to reinforce network security Smiley Good luck!
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