So is mining really not worth it anymore?

[tomtom123]

Noob here, so i created a thread asking a question about returning to bitcoin and i got some comments saying that mining is really not worth it anymore unless you spend tons and tons of money.

So is it really not worth it? i have an inspiron 1520 with duo 2 core and 8600mgt gpu. 
Is running the miner on amazon free VPS enough to make some money?

[acs267]

It depends if it's a CPU (Useless), GPU (Almost useless) or a ASIC. No matter what you hear, to everybody, the ASIC is GOD. As soon as they came out, GPUs didn't have chance, and GPUs took over from CPUs in 2009-2010.

But if it's a AltCoin, you could get a good profit from a GPU or a CPU.

[harkonnen]

Mining is always worth it.
It's just not about making some quick money any more. Those good ole days are long gone.
Keep your machine running, and aim for a long term.

[Benjig]

Noob here, so i created a thread asking a question about returning to bitcoin and i got some comments saying that mining is really not worth it anymore unless you spend tons and tons of money.

So is it really not worth it? i have an inspiron 1520 with duo 2 core and 8600mgt gpu. 
Is running the miner on amazon free VPS enough to make some money?

Mining with that specs the only reward you will have is burning down your computer for a satoshi, if you really want to mine, spend 10k usd or better buy the btc itself

[joshraban76]

If power is free, it's always "worth it" as in there is no loss to be had. But I guess, is it worth your time? I gave up on the idea of mining, personally.

[CEG5952]

If I were going to put any time or money into mining, I would take the more speculative route and point my miners at low difficulty alts (pre-pump). You'll swing and miss plenty of times, but it seems like just a few of those massive pumps (like AUR or DRK) will more than make up for it.

[aatrox]

Noob here, so i created a thread asking a question about returning to bitcoin and i got some comments saying that mining is really not worth it anymore unless you spend tons and tons of money.

So is it really not worth it? i have an inspiron 1520 with duo 2 core and 8600mgt gpu.  
Is running the miner on amazon free VPS enough to make some money?

Mining with that specs the only reward you will have is burning down your computer for a satoshi, if you really want to mine, spend 10k usd or better buy the btc itself

What if you dont have $10,000 on mining gear. 

How does one make btc then..

[HarryT1923]

If I were going to put any time or money into mining, I would take the more speculative route and point my miners at low difficulty alts (pre-pump). You'll swing and miss plenty of times, but it seems like just a few of those massive pumps (like AUR or DRK) will more than make up for it.

ditto. there is so much money in alt pumps. that's the way i would go too. too poor to be buying mining equipment right now anyway though.

[DolanDuck]

Btc mining for us common mortals is almost impossible, but if you want to earn some coins you can take a look
to the altcoins section and mine them with scrypt algo, but I think you will need a better gpu.

[tomtom123]

It depends if it's a CPU (Useless), GPU (Almost useless) or a ASIC. No matter what you hear, to everybody, the ASIC is GOD. As soon as they came out, GPUs didn't have chance, and GPUs took over from CPUs in 2009-2010.

But if it's a AltCoin, you could get a good profit from a GPU or a CPU.

I've seen an ASIC machine with 5GHs rate for $270.  Is this machine better than say a $400  nvidia GTX 870 with intel i7 4770k?

[atc1]

It depends if it's a CPU (Useless), GPU (Almost useless) or a ASIC. No matter what you hear, to everybody, the ASIC is GOD. As soon as they came out, GPUs didn't have chance, and GPUs took over from CPUs in 2009-2010.

But if it's a AltCoin, you could get a good profit from a GPU or a CPU.

I've seen an ASIC machine with 5GHs rate for $270.  Is this machine better than say a $400  nvidia GTX 870 with intel i7 4770k?

5GHs is not much. You'll make $1/week at most. Mining altcoins with a Scrypt ASIC is way more profitable,and mining the newer algo's with a graphic card is more so. As you can see,with the increasing difficulty,it's impossible to get RoI with just 5GHs,and you'll always be at a loss.

[tomtom123]

If I were going to put any time or money into mining, I would take the more speculative route and point my miners at low difficulty alts (pre-pump). You'll swing and miss plenty of times, but it seems like just a few of those massive pumps (like AUR or DRK) will more than make up for it.

ditto. there is so much money in alt pumps. that's the way i would go too. too poor to be buying mining equipment right now anyway though.

What is alt pumps? i've only did bitcoin mining one day a year ago and gave up lol so now i'm trying again

[tomtom123]

It depends if it's a CPU (Useless), GPU (Almost useless) or a ASIC. No matter what you hear, to everybody, the ASIC is GOD. As soon as they came out, GPUs didn't have chance, and GPUs took over from CPUs in 2009-2010.

But if it's a AltCoin, you could get a good profit from a GPU or a CPU.

I've seen an ASIC machine with 5GHs rate for $270.  Is this machine better than say a $400  nvidia GTX 870 with intel i7 4770k?

5GHs is not much. You'll make $1/week at most. Mining altcoins with a Scrypt ASIC is way more profitable,and mining the newer algo's with a graphic card is more so. As you can see,with the increasing difficulty,it's impossible to get RoI with just 5GHs,and you'll always be at a loss.

is a 5GHs asic better than a high end gpu like the gtx 870?

[yatsey87]

I think its kinda a shame that it's not possible for newcomers to mine now. I would have loved to earn some coins by mining, but I guess that's your reward for getting into bitcoin early. Oh well, at least we can still hope were part of the early adopters on the grand scheme of things.

[atc1]

It depends if it's a CPU (Useless), GPU (Almost useless) or a ASIC. No matter what you hear, to everybody, the ASIC is GOD. As soon as they came out, GPUs didn't have chance, and GPUs took over from CPUs in 2009-2010.

But if it's a AltCoin, you could get a good profit from a GPU or a CPU.

I've seen an ASIC machine with 5GHs rate for $270.  Is this machine better than say a $400  nvidia GTX 870 with intel i7 4770k?

5GHs is not much. You'll make $1/week at most. Mining altcoins with a Scrypt ASIC is way more profitable,and mining the newer algo's with a graphic card is more so. As you can see,with the increasing difficulty,it's impossible to get RoI with just 5GHs,and you'll always be at a loss.

is a 5GHs asic better than a high end gpu like the gtx 870?

No. Even though you're making a loss on both when you take electricity into account,at least you can use the graphic card to do other things like gaming and you have resale value for both the processor and the graphic card. Further,you'll be making around $5/week on a gtx 870 compared to the $1/week on the ASIC.

[Yeah?]

I would like to mine too, but obviously cant without a lot of money spent. I might try mine an alt coin eventually but worry id be wasting my time.

[pandacoin]

Free VPS services doesn't give you enough BTC. It's not worth your time. My advice to you is mine x11 algo coins. Sha256 and Scrypt algos can't get you a lot money but x11 is rising right now.

[ahri]

Speaking of mining, I seen mining contracts... like pbmining.

Are they worth it? I`m in california, so electricity cost is high, it seems like this would be the only route for me.

Or is there other options..

[Mayuyu48]

if you want to mine BTC using your CPU, then forget it
try mine QuazarCoin (QCN), it's cpu only coin and sell your mining result to BTC

Speaking of mining, I seen mining contracts... like pbmining.

Are they worth it? I`m in california, so electricity cost is high, it seems like this would be the only route for me.

Or is there other options..

if talk about pbmining, i recommend you to read discussion here
many rational arguments post there about pbmining

[atc1]

Speaking of mining, I seen mining contracts... like pbmining.

Are they worth it? I`m in california, so electricity cost is high, it seems like this would be the only route for me.

Or is there other options..

Mining contracts will never give a profit at the current rates. If you want to bet that the prices will go up in the future and that you will need Bitcoin for the future,go ahead and invest in a plan.