Bitcoin mining

[fc0712]

i have an gtx 680 and a i5 3570k and wanted to know how many bitcoin i would get for running it for 24 hours is it even worth it`

[SMURG]

Short answer: No.

[MG2R]

Short answer: No.

this

[RuecanOnRails]

Nvidia cards are no good at mining.

 

You will spend way more powering the system than you will make from mining.

Calculate your total monthly cost for powering your "mining rig" and spend that money directly buying the coins.

 

If you want to mine using GPU's you need AMD cards.

 

You can see the charts which compare hardware here.

https://en.bitcoin.it/wiki/Mining_hardware_comparison

 

As you can see a 680 will only get you about 120 M/Hash.

Compare that to a single 7950 from AMD at 550 M/Hash.

 

 

If you're still interested in knowing how much you could potentially earn you can check this calculator.

http://www.bitcoinx.com/profit/

[MG2R]

 

If you want to mine using GPU's you need AMD cards.

even GPU mining isn't worth it anymore these days.

[RuecanOnRails]

even GPU mining isn't worth it anymore these days.

 

That's where you are wrong.

 

GPU mining even on a single or dual card set up will earn you profit. It will pay for the monthly electricity used, and add a little in your pocket. The potential profit depends entirely on your set up and configurations. Do not mislead people by claiming it's not profitable or worth doing.

 

While it's not going to net you millions of dollars. You still earn enough to pay for electricity you use and turn a profit.

[MG2R]

That's where you are wrong.

 

GPU mining even on a single or dual card set up will earn you profit. It will pay for the monthly electricity used, and add a little in your pocket. The potential profit depends entirely on your set up and configurations. Do not mislead people by claiming it's not profitable or worth doing.

 

While it's not going to net you millions of dollars. You still earn enough to pay for electricity you use and turn a profit.

Let me correct myself here: it's not worth if you buy a system to do it (e.g. you buy a system that only mines and does nothing else). By the time you've paid back the machine, you're dead :p

 

Especially with them ASICs (about to) hit(ting) the market.

[RuecanOnRails]

ASICS currently don't exist for Scrypt based coins. Scrypt is very heavy on memory usage which make the asics a little more difficult to create and much more expensive to manufacture. Due to that extra costs the market just isn't there for anyone to invest in developing a Scrypt ASIC

 

Lets make a hypothetical machine.

 

Using a GOOD 750 watt PSU, you can run 3 7950's that have been under volted (less power usage and lower temps, should be done regardless, win win)

using only a 45 watt cpu with under volt and downclocked and give some more headroom.

 

For bitcoin mining right now getting an assumed 550 M/Hash each. total of 1650 M/Hash.

Currently My power costs .068 cents CAD per Kilowatt hour.

 

Assuming the PSU is pulling max 750 from the wall.

 

Revenue per day 5.67 USD

Less power costs 4.45 USD

 

An Extra $133 per month in my pocket including electricity costs.

 

As ASICS are more common, GPU mining will move onto Scrypt based coins such as Litecoin.

Running the same rig with litecoin

 

The hash rate of those 3 gpu's changes to 650 K/Hash * 3 1950 K/Hash.

 

Revenue per day 7.21 USD

Less power costs 5.99 USD

 

$180 extra per month.

 

 

Of course like you said, building such a rig will run about $1100 With an average pay off of about 6 and a half months. And as time goes by, the current value and difficulty changes rapidly to the point where one simply can not speculate.

Buying into cryptocoins is a gamble. It comes down to do you want to Gamble with making a profit after 6 months and potentially unlimited but slow flow of coins, or buy coins directly now hoping their value doesn't drop the total you buy now will outlast the slow stream of coins from the miner.

 

Best option would be a hybrid type of set up, were you buy only 2 gpu's and use the money from the third to buy coins directly. Then after a month or two see where everything is at and increase investment on whichever side appears more profitable whether that's hardware, or direct coin purchase. 

 

 

Regardless of what choice you make, if you want to get into Crypto Currencies you are going to have to buy your way in as they have an actual value with large volumes trading these days. Chances of having the hardware on hand is slim, although somewhat likely for a tech "enthusiast" I had a few gigahashes worth of mining power just from previous builds and hardware I already had laying around.