Jump to content

bitcoin mining


Jackson1647545504

Recommended Posts

  • Replies 50
  • Created
  • Last Reply

Top Posters In This Topic

Go read the article I posted...

 

 

An average CPU can run four instructions per clock cycle, and offer a few thousand to a few million hashes per second. This was never exactly great, but a few years ago it was enough for a low-rent mining operation. But then miners discovered that they could use their GPU instead, which can 3,200 instructions per cycle. The indispensable Bitcoin Wiki describes the shift like this:

 

One way to visualize it is a CPU works like a small group of very smart people who can quickly do any task given to them. A GPU is a large group of relatively dumb people who aren't individually very fast or smart, but who can be trained to do repetitive tasks, and collectively can be more productive just due to the sheer number of people.

 

 

tl;dr

 

* CPU == 4 instructions per cycle

* GPU == 3200 instructions per cycle

Link to comment
Share on other sites

Right now if you have a higher end ATI card you can mine between 0.03 to 0.1 coins per 24hr period. I've been in bitcoins for a few years and sadly I had stopped when they crashed last year. But in the past 2 months I've mined over 200$ worth of coins and cashed them in.

 

I currently mine with CGMiner.

Link to comment
Share on other sites

yup thats the problem. I had 12 desktops w/ P4's running and my one with 2 6970 GPU was tripling my output of the 12... The ASIC setup im looking at are 1500 for each card, GPU setups are the only way to go. I used to do folding at home : http://folding.stanford.edu/

If your talking about Butterfly they haev yet to ship a single ASIC. Actually I've yet to find any ASIC company that's shipping.

Link to comment
Share on other sites

If you have the best gear, yes.

 

the ASICs really dont use that much electricity. It's also unsure what the market is going to do when they become common.

 

So if you were to purchase an ASIC machine how long until you break even on the investment months, years?

Link to comment
Share on other sites

There is too much volatility in Bitcoins to say if anything is going to be worth your money long term.

 

If you buy and ASIC or a 700 dollar GPU - and Bitcoins go back down to $1, doesn't seem like it was worth it....

 

Bitcoin was 250USD just two weeks ago, now it is at 92USD

 

http://bitcoincharts.com/charts/mtgoxUSD#rg30ztgSzm1g10zm2g25 <<< last 30 days of Bitcoin.

Link to comment
Share on other sites

There is too much volatility in Bitcoins to say if anything is going to be worth your money long term.

 

If you buy and ASIC or a 700 dollar GPU - and Bitcoins go back down to $1, doesn't seem like it was worth it....

 

Bitcoin was 250USD just two weeks ago, now it is at 92USD

 

http://bitcoincharts.com/charts/mtgoxUSD#rg30ztgSzm1g10zm2g25 <<< last 30 days of Bitcoin.

 

8 years of data looks the value has been almost nothing. A few peaks and valleys but nothing compared to recent value increases. I guess it would be worth it if I had a large end GPU card already. Looks like you won't be able to buy an ASIC any time soon unless you want to fork over $20k on ebay. I wonder how well my gaming GPU would work on mining?

Link to comment
Share on other sites

I mined in 2011 and it paid for my GFX card. I've been watching the markets and was planning on getting an ASIC, but they lead time was +3 months and by the time I got it, Bitcoin might not be worth it then. Now I'm just waiting.
Link to comment
Share on other sites

I mined in 2011 and it paid for my GFX card. I've been watching the markets and was planning on getting an ASIC, but they lead time was +3 months and by the time I got it, Bitcoin might not be worth it then. Now I'm just waiting.

 

Same here, I want a Asic but the lead time makes it a dangerous gamble.

 

 

BTW here's some mining info.

 

in ~6 hours I mined 0.018 coins using a pair of 6970's . At current market rate that's 2$. So bascilly I can mine ~200$ a month if i mine 24/7

Link to comment
Share on other sites

Same here, I want a Asic but the lead time makes it a dangerous gamble.

 

 

BTW here's some mining info.

 

in ~6 hours I mined 0.018 coins using a pair of 6970's . At current market rate that's 2$. So bascilly I can mine ~200$ a month if i mine 24/7

 

I am curious what the energy draw on that setup is. Have you used a kill a watt device to track the usage?

Link to comment
Share on other sites

Found an interesting new article about the "Race for the fastest Bitcoin Miner"

 

http://www.wired.com/wiredenterprise/2013/04/bitcoin-mining-rigs/

 

Yeah, just saw this too. One of the ASIC manufacturers are close to shipping in the next few weeks.

 

I have one on order with a casual/hobby interest

Link to comment
Share on other sites

Same here, I want a Asic but the lead time makes it a dangerous gamble.

 

 

BTW here's some mining info.

 

in ~6 hours I mined 0.018 coins using a pair of 6970's . At current market rate that's 2$. So bascilly I can mine ~200$ a month if i mine 24/7

 

Say 750watt total system draw from this, it cost you 27 cents during that 6 hours. Sadly you also need to factor in cooling your house because around 400 watts of that was being dumped into nothing but heat.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


×
×
  • Create New...