ShootingStarJose (OP)
Newbie
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Activity: 5
Merit: 0
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July 21, 2014, 02:52:42 AM |
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Hey, im new to mining, and i want to know if my computer is good enough for mining, before people starts saying, buy ASIC Miners, In venezuela is tough to find dollars, and if i get to find an ASIC, it would be on skyrocket prices, well back to the point, my computer specs are:
CPU: AMD Phenom(tm) II X4 965 Processor
GPU: NVIDIA GeForce GT 610
RAM: Corsair Vengeance 8gb (2 x 4gb) DDR3 1600MHZ
Memory: I cant really remember the brand of my memory, since it was installed due to my other one not working, but i know it has 700 GB.
I dont really know if my rig is good enough to mine bitcoins, or any cryptocurrency.
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byt411
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July 21, 2014, 02:53:34 AM |
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Simple Answer: No.
Long Answer: No, no and no.
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Mayuyu48
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July 21, 2014, 03:02:31 AM |
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No. CPU and GPU mining for bitcoin is worthless now
you only make some dust and just wasting your electricity power
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ivonna
Full Member
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Activity: 139
Merit: 100
www.secondstrade.com - 190% return Binary option
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July 21, 2014, 05:20:29 AM |
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Simple Answer: No.
Long Answer: No, no and no.
this is an understatement. GPU mining has been unprofitable for well over a year now. |
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hibr3d
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July 21, 2014, 05:22:05 AM |
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Hey, im new to mining, and i want to know if my computer is good enough for mining, before people starts saying, buy ASIC Miners, In venezuela is tough to find dollars, and if i get to find an ASIC, it would be on skyrocket prices, well back to the point, my computer specs are:
CPU: AMD Phenom(tm) II X4 965 Processor
GPU: NVIDIA GeForce GT 610
RAM: Corsair Vengeance 8gb (2 x 4gb) DDR3 1600MHZ
Memory: I cant really remember the brand of my memory, since it was installed due to my other one not working, but i know it has 700 GB.
I dont really know if my rig is good enough to mine bitcoins, or any cryptocurrency.
How many Gh/s you are able to reach? |
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charlieSeen
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July 21, 2014, 05:37:07 AM |
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Hey, im new to mining, and i want to know if my computer is good enough for mining, before people starts saying, buy ASIC Miners, In venezuela is tough to find dollars, and if i get to find an ASIC, it would be on skyrocket prices, well back to the point, my computer specs are:
CPU: AMD Phenom(tm) II X4 965 Processor
GPU: NVIDIA GeForce GT 610
RAM: Corsair Vengeance 8gb (2 x 4gb) DDR3 1600MHZ
Memory: I cant really remember the brand of my memory, since it was installed due to my other one not working, but i know it has 700 GB.
I dont really know if my rig is good enough to mine bitcoins, or any cryptocurrency.
How many Gh/s you are able to reach? This setup will be much less then 1 GHs. It is probably less then even 1 MHs. IMO, not a good idea, even for scrypt based alts. |
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DrG
Legendary
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Activity: 2086
Merit: 1035
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July 21, 2014, 05:52:26 AM |
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The video card is utterly useless for any kind of mining, the GT 610 is slower than most on CPU video like the Intel HD4000.
You might be able to get a few hash out of the CPU for cryptonote, but a GPU would be about 100x as powerful - so not energy efficient.
Basically you should not mine with that setup. Spend the money buying coin, not buying new hardware.
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bigcuan
Newbie
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Activity: 3
Merit: 0
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July 21, 2014, 06:23:13 AM |
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so what do you guys suggest for mining these day?, which asic mining?
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byt411
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July 21, 2014, 06:53:56 AM |
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You probably won't even profit with it. It all depends on your electricity price. |
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DrG
Legendary
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Activity: 2086
Merit: 1035
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July 21, 2014, 06:54:21 AM |
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so what do you guys suggest for mining these day?, which asic mining?
I suggest you don't mine because you will end up loosing money. Why are there so many people mining then.... well basically everybody thought they could make money so they followed the herd and picked up axes (mining equipment) only to enrich the people who sell such equipment. Those sellers are either becoming rich from those sales or they use the sales to fund their own massive multi-million dollar farms. This is not speculation - this is known and documented - case in point are BFL, Avalon, KNC - all ASIC vendors. Unless you have over $1 million dollars to throw at mining you won't be able to compete with the big boys and you will lose money. You can buy a small and cheap miner like an outdated USB stick or even a soon to be obsolete Antminer S1 and learn how mining works and do the calculations to see how bad it is. Best financial advice is to buy the coin directly. Spend a little bit on a miner if you absolutely need to mine for enjoyment. |
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hibr3d
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July 21, 2014, 07:00:55 AM |
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so what do you guys suggest for mining these day?, which asic mining?
I suggest you don't mine because you will end up loosing money. Why are there so many people mining then.... well basically everybody thought they could make money so they followed the herd and picked up axes (mining equipment) only to enrich the people who sell such equipment. Those sellers are either becoming rich from those sales or they use the sales to fund their own massive multi-million dollar farms. This is not speculation - this is known and documented - case in point are BFL, Avalon, KNC - all ASIC vendors. Unless you have over $1 million dollars to throw at mining you won't be able to compete with the big boys and you will lose money. You can buy a small and cheap miner like an outdated USB stick or even a soon to be obsolete Antminer S1 and learn how mining works and do the calculations to see how bad it is. Best financial advice is to buy the coin directly. Spend a little bit on a miner if you absolutely need to mine for enjoyment. Mining now is pretty much converting USD to BTC. |
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tekke
Legendary
Offline
Activity: 854
Merit: 1000
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July 21, 2014, 07:05:39 AM |
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your pc is not suited for mining, you will end up paying more for electricity than what you would make by mining, hence negative profit.
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byt411
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July 21, 2014, 07:06:56 AM |
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your pc is not suited for mining, you will end up paying more for electricity than what you would make by mining, hence negative profit.
LOL... Negative profit? What's that? Surely you mean loss. |
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byt411
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July 21, 2014, 07:19:47 AM |
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Seriously? Who the heck uses oxymorons in real life? |
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tekke
Legendary
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Activity: 854
Merit: 1000
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July 21, 2014, 07:31:01 AM |
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Seriously? Who the heck uses oxymorons in real life? Hmm... maybe people with a better grasp of what a figure of speech is? , maybe somebody who knows how to use them? |
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hibr3d
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July 21, 2014, 07:31:47 AM |
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your pc is not suited for mining, you will end up paying more for electricity than what you would make by mining, hence negative profit.
LOL... Negative profit? What's that? Surely you mean loss. I dont understand are you trying to be sarcastic or just answering your own question. Well that means you will pay more than you will get. (Negative profit - loss) |
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Yuki1988
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July 21, 2014, 08:08:00 AM |
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so what do you guys suggest for mining these day?, which asic mining?
I suggest you to forget about mining. As others have explained, it will be very hard to get profit in mining nowadays. You may use part of your money to buy some bitcoin and hold them for at least a year instead. |
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ranochigo
Legendary
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Activity: 2982
Merit: 4193
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July 21, 2014, 12:11:56 PM |
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GPU is long gone from the mining game. Furthermore, Nvidia GPUs are less efficient than AMD GPUs. If you want to experience mining, try to get some AMD GPU and mine ASIC resistant Alt coins, no guarantees you can make a profit.
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