Coin Mining Effective?

[sci4me]

Hey guys! So: long story short: i dont pay the electric bill, can i make any money at all with coin mining? If so, which one? Litecoin? Bitcoin?

[Hazy125]

If you don't pay the bill than you can make money mining, you won't make much. Probably around a dollar an hour if you have a good mining card which is a radeon 5000 series or 7000 seies

[sci4me]

A dollar an hour?!!? Dang, for someone in my position, thats pretty worth while! A radeon 500 or 7000.. hmm, well I have a Radeon HD 7450.. will that be good? 

[jasonharty24]

Hi sci4me if you want to figure out what coin to try and mine i would suggest going over to dustcoin.com this shows how profitable every coin is compared to bitcoin. You can also calculate how much you will make on dustcoin if you know how fast you can mine. I haven't personally tried with your gpu but i would estimate that it might do scrypt: 40kh/s or sha256: 40mh/s the difference between sha256 and scrypt is that the numbers for scrypt are approximately 1000 times smaller.

[RuecanOnRails]

a dollar an hour is way too high for a single gpu mining rig.

 

A 7970 running at 755 k/hash is looking at only $0.09 an hour.

https://www.litecoinpool.org/calc?hashrate=755&difficulty=957.50748969

 

 

If you want to see how much you can get out of your hardware setup, look up results on here.

http://litecoin.info/Mining_Hardware_Comparison

 

 

You are better off mining Litecoin with gpu's as the profitability over bitcoin is much higher.

 

 

*A 7450 will not mine.

[sci4me]

Okay well with cgminer, it says i get around 24 MH/s so, ill look into litecoin now.

 

My mining pool is telling me that my average speed is 35 MH/s in the last 10 minutes. Is that good or bad?

[jasonharty24]

Well the thing about pool stats is that it is calculated by your shares submitted so if you get a streak of luck it will be higher then average. for your true hashrate look at your miner.

[jasonharty24]

Have you tried mining litecoins or any scrypt algorithm coins yet?

[RuecanOnRails]

With that low of hash power, you would be much better off buying the coins directly.

Not only will you get more coins and faster. But you will also reduce any unneeded stress on your computer. (Mining constantly will shorten and kill components at a higher rate than normal day to day use)

At your speed it will take a month to get a single litecoin. which is only .032 bitcoins.

 

The difficulty of mining is constantly going up, within that month timeframe for your single coin which to date is worth $2.69 the difficulty could jump up 40% earning you much less than normal predictions.

[pGuerrerox]

if you dont pay for the electricity any coin will be profitable...  but if you thinking about building a real mining rig electricity cost for the people that pay for it will get a big increase. So you better plan it very well I have hear of guys asked to leave their apartment cuz the power was way to high.

[Tachibana]

http://wheretomine.com/

 

 

thats what i use, im honestly just mining worldcoins atm because theyre fairly stable and always in the top 5 for profitability :B, but your card is even worse than my gtx 560 (nvidia cards are known for sucking at mining, and you have 1/5 my mining power, soo...)

[Lays]

If you don't pay the bill than you can make money mining, you won't make much. Probably around a dollar an hour if you have a good mining card which is a radeon 5000 series or 7000 seies

 

 

Are 780's any good at mining? I know AMD is loads better, JW. 

[Hazy125]

Are 780's any good at mining? I know AMD is loads better, JW.

I'm not sure, I don't know anyone who has wasted a 780 on mining yet

[Lays]

I'm not sure, I don't know anyone who has wasted a 780 on mining yet

 

I was jw, I didn't know if anyone had a 780 and tried mining out of curiosity or something

[YellowDragon]

Using GPUS for Bitcoin mining is no longer profitable, you will suck down too much power to generate hashes, the name of the game is low electricity costs for the highest number of hashes. If you seriously want to mine bitcoins. Go to ebay and search BITCOIN BLOCK ERUPTER, they are little USB powered ASIC miners that get around 330 M/Hash and have a TDP of 2.5W, they cost around $80-120 depending on Bitcoin current value, even a vast array of these little guys pull very little power for an extremely high efficiency per hash ratio. It would take 100 of these little guys to match the power draw of 1 HD 7970, and you would be able to generate a whooping 33.3 Giga Hash where as the lone 7970 would be generating 525M hash.

[MrSuperb]

Hey guys! So: long story short: i dont pay the electric bill, can i make any money at all with coin mining? If so, which one? Litecoin? Bitcoin?

 

Paretns paying? Might be better to just ask them to give you some money ...

[YellowDragon]

Paretns paying? Might be better to just ask them to give you some money ...

Could depend, If your a college student like me that pays a ludicrous amount for a dorm room with utilities included with the costs then by all means mine away and rack up that electricity bill as they cant charge you for how much you use since its a fixed cost :P

[Kirihuna]

Could depend, If your a college student like me that pays a ludicrous amount for a dorm room with utilities included with the costs then by all means mine away and rack up that electricity bill as they cant charge you for how much you use since its a fixed cost :P

I'm in the same boat when it comes to no electricity bill charge in dorm rooms.

 

Where does one start when it comes to mining though? $1 an hour isn't bad. If I run a rig 24/7 on a 680, I could get $168 a week.

[YellowDragon]

I'm in the same boat when it comes to no electricity bill charge in dorm rooms.

 

Where does one start when it comes to mining though? $1 an hour isn't bad. If I run a rig 24/7 on a 680, I could get $168 a week.

 

You cant mine on a GTX 680, AMD cards only.

 

 

If you want to get into mining, use these instead:

http://linustechtips.com/main/topic/44678-kill-your-gpu-bitcoin-mining-with-block-eruptors/

[RuecanOnRails]

I'm in the same boat when it comes to no electricity bill charge in dorm rooms.

 

Where does one start when it comes to mining though? $1 an hour isn't bad. If I run a rig 24/7 on a 680, I could get $168 a week.

 

You CAN mine on a 680, however you wouldn't be making anywhere near the $1 an hour. You would be making maybe around 40 cents per day with 24/7 mining making your computer unusable. You could potentially make more, if you jump blockchains constantly to keep with the current highest profitability coin. If you decide to mine anyways, you should mine scrypt based coin which would see more profits than bitcoins SHA-256 algorithm.