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wana start bitcoin mining

DeltaFrost268
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Go to solution Solved by Daniel644,
3 minutes ago, Mr. horse said:

Or the market crashes/becomes illegal in your country and you lose everything. using bit coin alone makes you looks like a cyber criminal to many.

it becoming illegal doesn't make it go away, it just gets traded under the table, yes collapsing is a possibility, but more countries are coming around to crypto then are outright banning it.

 

3 minutes ago, DeltaFrost268 said:

power costs dont matter to me

last year (so you can be sure it's LESS now) a 710 brought in about 3 cents a day, and don't say power costs don't matter to you electricity isn't free, it costs your parents or your landlord money and WILL cost them more then you will ever make from it.

 

and like I said PENNIES a day, say maybe 4 bucks a year if you are LUCKY.

 

Just now, DeltaFrost268 said:

my entire rig uses ~200w max load

200 watts is 4.8 Kw's a day or about 48 cents a day at 10 cents per KwH.

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Just now, Daniel644 said:

about 100+ times SLOWER then the one he linked

 

the one you linked is in the 3-5 MH/s range

the one he linked is in the 15 GH/s range thats 15,000 MH/s

the current Antminer S17Pro is 53+ TH/s thats 53,000,000 MH/s

ok, i didnt know

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1 minute ago, Daniel644 said:

about 100+ times SLOWER then the one he linked

 

the one you linked is in the 3-5 MH/s range

the one he linked is in the 15 GH/s range thats 15,000 MH/s

the current Antminer S17Pro is 53+ TH/s thats 53,000,000 MH/s

how about this one?

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11 minutes ago, DeltaFrost268 said:

how much better is this one? how much moe profit would it make?

The one I linked to can do up to 15 gigahash (or 15000 megahash) and your profit would probably be 2-3$ a year (i was too optimistic before, you won't even recover the price of the thing before it's obsolete)

The one you link to is a toy, it can do only 3-5 megahash... so 3-5000+ times less than what I linked to.

 

Again.. bitcoin mining is basically impossible without investing thousands of dollars and consuming hundreds to thousands of watts of power.

If you have FREE energy (not energy paid by your parents, or stolen from school or company, because you can be sued and fined for stealing power or using power this way) then you may make some profit if you mind alternate coins like Ethereum or Monero ... but even a year or so ago when I still mined, with 3 RX 570 cards I was mining with produced way less than 1 ETH a month ... since then the mining difficulty has increased for sure so it would mine even less each month.... and now 1 ETH is around $250

 

I had friends with houses near small rivers and they basically installed 5-10 kWh generators in the river and they got free electricity for a mining system and they made money that way.

 

The one you linked above my post has a 120 gigahash per second - that's around 7$ a year profit using today's bitcoin prices

Scroll down on this page to the profitability calculator and enter the numbers yourself if you don't believe me : https://www.buybitcoinworldwide.com/mining/hardware/

 

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1 minute ago, mariushm said:

The one I linked to can do up to 15 gigahash and your profit would probably be 2-3$ a year (i was too optimistic before, you won't even recover the price of the thing before it's obsolete)

The one you link to is a toy, it can do only 3-5 gigahash... so 5+ times less than what I linked to.

 

Again.. bitcoin mining is basically impossible without investing thousands of dollars and consuming hundreds to thousands of watts of power.

If you have FREE energy (not energy paid by your parents, or stolen from school or company, because you can be sued and fined for stealing power or using power this way) then you may make some profit if you mind alternate coins like Ethereum or Monero ... but even a year or so ago when I still mined, with 3 RX 570 cards I was mining with produced way less than 1 ETH a month ... since then the mining difficulty has increased for sure so it would mine even less each month.... and now 1 ETH is around $250

 

I had friends with houses near small rivers and they basically installed 5-10 kWh generators in the river and they got free electricity for a mining system and they made money that way.

ok, so what about this one?

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1 minute ago, DeltaFrost268 said:

how about this one?

let me spell this out for you DO NOT BUY USB BITCOIN MINERS, YOU WILL NEVER MAKE YOUR MONEY BACK EVER!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! those things are 5+ years out of date. To make ANY money at Bitcoin Mining you HAVE to get in on either the first or second batch of a new Bitcoin Miner that costs several THOUSAND DOLLARS, there is NO CHEAPING OUT on this, will just LOSE MONEY.

 

forget about Bitcoin Mining, if you do any mining you use GPU's to mine altcoins but even then a card like a Titan Xp is making about 2 dollars a day before power costs come out. So just stop and think how your crappy cards compare about that GPU, your 2GB Vram cards can't even mine the algorithms that are making the most money, you don't want a GPU with less then 8GB of Vram. Limiting yourself to algorithms that 2GB Vram GPU could mine would reduce earnings by 25-40% from that 2 dollar mark on the Titan Xp, low VRAM GPU's are outdated worthless garbage

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1 minute ago, Daniel644 said:

let me spell this out for you DO NOT BUY USB BITCOIN MINERS, YOU WILL NEVER MAKE YOUR MONEY BACK EVER!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! those things are 5+ years out of date. To make ANY money at Bitcoin Mining you HAVE to get in on either the first or second batch of a new Bitcoin Miner that costs several THOUSAND DOLLARS, there is NO CHEAPING OUT on this, will just LOSE MONEY.

 

forget about Bitcoin Mining, if you do any mining you use GPU's to mine altcoins but even then a card like a Titan Xp is making about 2 dollars a day before power costs come out. So just stop and think how your crappy cards compare about that GPU, your 2GB Vram cards can't even mine the algorithms that are making the most money, you don't want a GPU with less then 8GB of Vram. Limiting yourself to algorithms that 2GB Vram GPU could mine would reduce earnings by 25-40% from that 2 dollar mark on the Titan Xp, low VRAM GPU's are outdated worthless garbage

oh, ok

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so can i get to know some of the software needed for this?

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1 minute ago, DeltaFrost268 said:

so can i get to know some of the software needed for this?

it depends, for GPU mining you need to research what coin is CURRENTLY (as in THIS WEEK, anything older then that isn't worth looking at) and then research what software is needed to mine that coin, find a pool to mine it on, setup the wallet for said coin, find an exchange that trades said coin, there is a decent amount of work, or you can take the easy way out and use Nicehash, but even then (and this applies to all methods) you need to figure out the optimal point to run your GPU at, you don't just run it balls to the wall with the power limit turned all the way up, in fact you do quite the opposite, you reduce your power limit to reduce your power draw and your heat output. you need to figure out the optimal performance settings for your hardware for the algorithm you are mining, some like faster memory, some prefer core overclocking and memory turned down. There is little that stays the same between every algorithm.

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1 minute ago, Daniel644 said:

it depends, for GPU mining you need to research what coin is CURRENTLY (as in THIS WEEK, anything older then that isn't worth looking at) and then research what software is needed to mine that coin, find a pool to mine it on, setup the wallet for said coin, find an exchange that trades said coin, there is a decent amount of work, or you can take the easy way out and use Nicehash, but even then (and this applies to all methods) you need to figure out the optimal point to run your GPU at, you don't just run it balls to the wall with the power limit turned all the way up, in fact you do quite the opposite, you reduce your power limit to reduce your power draw and your heat output. you need to figure out the optimal performance settings for your hardware for the algorithm you are mining, some like faster memory, some prefer core overclocking and memory turned down. There is little that stays the same between every algorithm.

could you help me find one?

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1 minute ago, DeltaFrost268 said:

could you help me find one?

nah i'm getting ready for work (gotta be out the door if a few minutes), this is the part where you do your own research.

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2 minutes ago, Daniel644 said:

nah i'm getting ready for work (gotta be out the door if a few minutes), this is the part where you do your own research.

ok, sounds good!

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can i have help looking at ProHashing.com i registered but dont know how to set things up...

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1 hour ago, DeltaFrost268 said:

can i have help looking at ProHashing.com i registered but dont know how to set things up...

nvm i used somthing else now it all works 

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well, ive taken some time done some research and have made 0.00000034 ($0.0032) bitcoin in 6 hours!

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but now nothing works and all of the sockets are closed...

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  • 2 weeks later...
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My 2080ti is making £106/$134.66 a month, based off payouts over the last 4 weeks.

 

It's worth it depending on your gpu.

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Price has sky rocketed and mining is highly profitable again on GPUs and most ASICs

▓ƆԀ▓ S▓₱▓Ɇ▓c▓s▓: i7 6ʇɥפᴉƎ00K (4.4ghz), Asus DeLuxe X99A II, GT҉X҉1҉0҉8҉0 Zotac Amp ExTrꍟꎭe),Si6F4Gb D???????r PlatinUm, EVGA G2 Sǝʌǝᘉ5ᙣᙍᖇᓎᙎᗅᖶt, Phanteks Enthoo Primo, 3TB WD Black, 500gb 850 Evo, H100iGeeTeeX, Windows 10, K70 R̸̢̡̭͍͕̱̭̟̩̀̀̃́̃͒̈́̈́͑̑́̆͘͜ͅG̶̦̬͊́B̸͈̝̖͗̈́, G502, HyperX Cloud 2s, Asus MX34. פN∩SW∀S 960 EVO

Just keeping this here as a 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mine low level coins sell them on the BTC exchange.  Im mining a specific coin I sell for BTC because the return rate is worth.

 

My brother has 7 Radeon VII's doing the same coin as well

Workstation Laptop: Dell Precision 7540, Xeon E-2276M, 32gb DDR4, Quadro T2000 GPU, 4k display

Wifes Rig: ASRock B550m Riptide, Ryzen 5 5600X, Sapphire Nitro+ RX 6700 XT, 16gb (2x8) 3600mhz V-Color Skywalker RAM, ARESGAME AGS 850w PSU, 1tb WD Black SN750, 500gb Crucial m.2, DIYPC MA01-G case

My Rig: ASRock B450m Pro4, Ryzen 5 3600, ARESGAME River 5 CPU cooler, EVGA RTX 2060 KO, 16gb (2x8) 3600mhz TeamGroup T-Force RAM, ARESGAME AGV750w PSU, 1tb WD Black SN750 NVMe Win 10 boot drive, 3tb Hitachi 7200 RPM HDD, Fractal Design Focus G Mini custom painted.  

NVIDIA GeForce RTX 2060 video card benchmark result - AMD Ryzen 5 3600,ASRock B450M Pro4 (3dmark.com)

Daughter 1 Rig: ASrock B450 Pro4, Ryzen 7 1700 @ 4.2ghz all core 1.4vCore, AMD R9 Fury X w/ Swiftech KOMODO waterblock, Custom Loop 2x240mm + 1x120mm radiators in push/pull 16gb (2x8) Patriot Viper CL14 2666mhz RAM, Corsair HX850 PSU, 250gb Samsun 960 EVO NVMe Win 10 boot drive, 500gb Samsung 840 EVO SSD, 512GB TeamGroup MP30 M.2 SATA III SSD, SuperTalent 512gb SATA III SSD, CoolerMaster HAF XM Case. 

https://www.3dmark.com/3dm/37004594?

Daughter 2 Rig: ASUS B350-PRIME ATX, Ryzen 7 1700, Sapphire Nitro+ R9 Fury Tri-X, 16gb (2x8) 3200mhz V-Color Skywalker, ANTEC Earthwatts 750w PSU, MasterLiquid Lite 120 AIO cooler in Push/Pull config as rear exhaust, 250gb Samsung 850 Evo SSD, Patriot Burst 240gb SSD, Cougar MX330-X Case

 

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