Bitcoin Forum
December 09, 2016, 12:16:42 AM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: « 1 [2] 3 »  All
  Print  
Author Topic: Is mining still worth it?  (Read 3535 times)
Jim Rockford
Newbie
*
Offline Offline

Activity: 20


Jim, it's Norma at the market - it bounced.


View Profile
June 14, 2012, 05:48:24 PM
 #21

As a financial investment - probably not. As a nerdy pastime it can be quite absorbing.
1481242602
Hero Member
*
Offline Offline

Posts: 1481242602

View Profile Personal Message (Offline)

Ignore
1481242602
Reply with quote  #2

1481242602
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481242602
Hero Member
*
Offline Offline

Posts: 1481242602

View Profile Personal Message (Offline)

Ignore
1481242602
Reply with quote  #2

1481242602
Report to moderator
AndrewBUD
Sr. Member
****
Offline Offline

Activity: 336


I will Squirt you with this sprinkler :)


View Profile
June 14, 2012, 06:03:36 PM
 #22

Yes nerdy past time Smiley Hobby... Smiley
MoinCoin
Full Member
***
Offline Offline

Activity: 182



View Profile
June 15, 2012, 01:20:59 AM
 #23

If you can produce GH/s sureley - if not i think its just not worth the time.
AndrewBUD
Sr. Member
****
Offline Offline

Activity: 336


I will Squirt you with this sprinkler :)


View Profile
June 15, 2012, 01:37:03 AM
 #24

I produce a few gh/s and it's for fun... my little hobby Smiley
puffn
Full Member
***
Offline Offline

Activity: 126


View Profile
June 15, 2012, 02:06:52 AM
 #25

Yeah, but like any business, you have to conservatively predict revenues, control costs, and put your time in to make money.

Looking for safe diversification? YABIF: Good Returns, Low Fees, Low Risk.

GLBSE
Bitcointalk Page

I hold significant interest in
Bitcoin Mining Investments
AndrewBUD
Sr. Member
****
Offline Offline

Activity: 336


I will Squirt you with this sprinkler :)


View Profile
June 15, 2012, 08:07:30 PM
 #26

I do ? Cool.... I better get on that Smiley
CoinDiner
Newbie
*
Offline Offline

Activity: 28



View Profile
June 16, 2012, 04:39:43 PM
 #27

how much data is actually sent to me as I mine?

is it true you have to download 1GB of data the first time you start?

---           There's always 1406F40 hacks to let the light in           ---          ---            1LnfUeVBMFfXH1B8pUHjgj2CCdphtA5Ef9                    ---
steveme
Jr. Member
*
Offline Offline

Activity: 36


View Profile
June 16, 2012, 06:36:48 PM
 #28

how much data is actually sent to me as I mine?

According to perfmon (Win7), I'm receiving about 1.8k/sec of data

Quote
is it true you have to download 1GB of data the first time you start?

The bitcoin client has to download the entire blockchain before you can start sending & receiving coins
Gabi
Legendary
*
Offline Offline

Activity: 1050


View Profile
June 16, 2012, 06:52:38 PM
 #29

how much data is actually sent to me as I mine?

is it true you have to download 1GB of data the first time you start?
Welcome in the bitcoin world, i suppose you are new.
Data sent? Not a lot

Downloading 1GB? More like the whole blockchain, but only if you run the standard bitcoin client, not required to mine (unless you want to solo mine)

Quote
The bitcoin client has to download the entire blockchain before you can start sending & receiving coins
Only the standard client. A light client don't need the whole blockchain
CoinDiner
Newbie
*
Offline Offline

Activity: 28



View Profile
June 16, 2012, 08:12:58 PM
 #30

how much data is actually sent to me as I mine?

According to perfmon (Win7), I'm receiving about 1.8k/sec of data

Thats not a lot!
Is it a constant stream of that size or does it flucutate?

whats that over a 24 hour period roughly?


 

Welcome in the bitcoin world, i suppose you are new.

Hi     yeah only 7 posts old Smiley

Downloading 1GB? More like the whole blockchain,

is this bigger than 1GB?

I plan to do pool mining (if thats the right term!)

---           There's always 1406F40 hacks to let the light in           ---          ---            1LnfUeVBMFfXH1B8pUHjgj2CCdphtA5Ef9                    ---
steveme
Jr. Member
*
Offline Offline

Activity: 36


View Profile
June 16, 2012, 10:35:19 PM
 #31


Quote
According to perfmon (Win7), I'm receiving about 1.8k/sec of data

Thats not a lot!
Is it a constant stream of that size or does it flucutate?

whats that over a 24 hour period roughly?

On my PC (720 Mhash/sec) I'm seeing about 1k/sec over a 3 minute window, which will be mostly work being received from the pool, calculated and sent back (i've also got the bitcoin-qt wallet running, so it may be doing something) YMMV

Quote
Downloading 1GB? More like the whole blockchain,

is this bigger than 1GB?

I plan to do pool mining (if thats the right term!)


You don't need the bitcoin-qt wallet if you're going to pool mine, and use an online wallet (e.g. http://blockchain.info/wallet)

If you want to run the bitcoin-qt wallet on your pc, it'll need to download the whole blockchain (about 1.8GB), and the continuously update itself
CoinDiner
Newbie
*
Offline Offline

Activity: 28



View Profile
June 18, 2012, 04:40:59 PM
 #32

ok Thanks Steveme

I will checkout the online wallet

---           There's always 1406F40 hacks to let the light in           ---          ---            1LnfUeVBMFfXH1B8pUHjgj2CCdphtA5Ef9                    ---
macromode
Member
**
Offline Offline

Activity: 104


View Profile
June 18, 2012, 06:09:48 PM
 #33

Think of mining as a fun, nerdy hobby. With careful planning and operations, you'll make a profit. But the profit alone shouldn't drive you to start mining. It's taken me almost a year to break even on hardware costs, so clearly, this wasn't the kind of profitable venture that one would want to get into to make dough. But it's been fascinating and fun. Breaking even is just icing on the cake.
gonella
Newbie
*
Offline Offline

Activity: 17


View Profile
June 24, 2012, 09:48:34 PM
 #34

actually, I think it is worth, but I am a little bit worry about the life time of the card(GPU and FPGA).

I did not find any thing relate it.
wildgift
Newbie
*
Offline Offline

Activity: 16


View Profile
June 25, 2012, 12:50:41 AM
 #35

I think it's worth it if you are a gamer and can use the cards for playing games.  Though you'll fall short of breaking even on bitcoins, they'll subsidize your gaming habit.  Presumably, you'll only play a few hours a day at most, and the rest of the time, the cards are just sitting there doing nothing.

This is somewhat like the reasoning that people pan for gold.  The ones who are good at it say they make around $30k per year.  That's a pretty meager wage, but for someone who enjoys being outdoors, in the stream, it's a pretty good job.  Expenses are limited, and rent is cheap (if they rent at all - that land out there is cheap).  If you love the work, you're going to enjoy life.

la.indymedia.org (http://la.indymedia.org)
photoa6155
Newbie
*
Offline Offline

Activity: 28


View Profile
June 25, 2012, 01:51:22 AM
 #36

Whats the general consensus on mining if BFL actually releases there ASIC unit in October and ships it at that time. It would seem that even mining with fpga will be worthless in a few weeks of customers receiving units.
humanitee
Hero Member
*****
Offline Offline

Activity: 714



View Profile
June 25, 2012, 06:28:04 AM
 #37

If 1 TH is actually achieved by BFL, FPGA mining will no longer be profitable unless there is a huge increase in Bitcoin price. It would be a better investment to consider getting in with a pool of people and getting a BFL or buying into a similar scheme on GLBSE.

wildgift
Newbie
*
Offline Offline

Activity: 16


View Profile
June 25, 2012, 06:23:37 PM
 #38

I just realized that btc mining is profitable if mom and dad pay for the graphics card, computer, electricity, housing, and taxes.

No wonder people are willing to sell their services for 1 btc.

la.indymedia.org (http://la.indymedia.org)
mig91
Full Member
***
Offline Offline

Activity: 120



View Profile
June 26, 2012, 11:10:59 AM
 #39

I just realized that btc mining is profitable if mom and dad pay for the graphics card, computer, electricity, housing, and taxes.

No wonder people are willing to sell their services for 1 btc.

my girlfriend buy a new psu for me  Cheesy
Panzer1
Newbie
*
Offline Offline

Activity: 9


View Profile
June 27, 2012, 01:57:07 AM
 #40

Well, it depends on the hardware you have, especially your GPU.
Pages: « 1 [2] 3 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!