Can I mine Bitcoins without special hardware?

[Rayhaan Jiwani]

Hello Forum,

 

As you read in the title, I wanted to start mining and I've always wanted to ever since I knew about Bitcoins but firstly, can I mine using my CPU and GPU? I know you need special hardware, but is it still possible? And I also wanted to know whether it's cost viable, i.e. will be spending more than what I earn via Bitcoins and also is it a good idea because no one accepts Bitcoins in India and they'll just by lying in the Bitcoin wallet.

 

Thanks!

[SimpleG]

Yeah, but you'll have mayor loses in hardware and money

[techguru]

Hello Forum,

 

As you read in the title, I wanted to start mining and I've always wanted to ever since I knew about Bitcoins but firstly, can I mine using my CPU and GPU? I know you need special hardware, but is it still possible? And I also wanted to know whether it's cost viable, i.e. will be spending more than what I earn via Bitcoins and also is it a good idea because no one accepts Bitcoins in India and they'll just by lying in the Bitcoin wallet.

 

Thanks!

no you can't not anymore

you need some major investments in hardware now to mine anything worth mining

the calculations are getting more and more advanced as it gets closer to the end of the mining

[Agazed]

Anyone know a cryptocurrenty you can mine on a normal computer and make money?

[Samfisher]

You can without ASICs.  You shouldn't without ASICs.

[linuxfan66]

no you can't not anymore

you need some major investments in hardware now to mine anything worth mining

the calculations are getting more and more advanced as it gets closer to the end of the mining

How close are we talking?

[techguru]

thats hard to predict

as we get closer the difficulty gets harder and harder

basically you need more powerful hardware ...eventually making it almost impossible to get the last coins

[techguru]

id probably ask barnecles how many coins he's mined..vs how much he thinks he spent on the hardware and power

[linuxfan66]

id probably ask barnecles how many coins he's mined..vs how much he thinks he spent on the hardware and power

what make me curious is how dogecoin and other newer services got as bad as bitcoin about this despite being years newer.

[Rayhaan Jiwani]

id probably ask barnecles how many coins he's mined..vs how much he thinks he spent on the hardware and power

 

I think some company gave him the mining equipment for free.

[2FA]

Ziftrcoin is one of the few you can mine without needing special equipment, actually it was meant not to need it. However, it was recently launched and not many places support it yet so the price is quite low which still results in loss of profit.

[BenR31415]

Try dogecoin if you want to get into the mining game, if you don't have ASICs.

[Dimi3os]

id probably ask barnecles how many coins he's mined..vs how much he thinks he spent on the hardware and power

Barnacules got his hardware for free and in one of his BTC videos he says how much he makes. Iirc it was around 10 dollars with the electricity covered.

[Johannes_Lazor]

Barnacules got his hardware for free and in one of his BTC videos he says how much he makes. Iirc it was around 10 dollars with the electricity covered.

That was 4 months ago, The big within bitcion mining are upgrading Very quickly.

[BuckGup]

Good luck. With 4 295x2 your lucky to even break even from power consumption. With ASCIS you can make money but you have to drop like $1000 to make enough money to break even in a year and by then the difficulty will go up and it will never break even and you have to invest more. Right now mine an altcoin or just Fold or use Boinc.

[DoubleUx2]

Just use this if you think you can make a profit:

http://www.coinwarz.com/calculators/bitcoin-mining-calculator

 

It will tell you if you can