Looking to get into mining

[TheGleaner]

Whats the best 'course' to get into mining? I mean what mining software/machine/currency should I begin with? Does a 'univsersal' mining machine exist? 

[TheGhzGuy]

Personal mining is pretty much dead at this point. There are some who can pull it off, but the investment is quite large and return is slow. (Or at least that I know of)

[TheGleaner]

Even the newer currencies? (nonbitcoin)

1 minute ago, TheGhzGuy said:

Personal mining is pretty much dead at this point. There are some who can pull it off, but the investment is quite large and return is slow. (Or at least that I know of)

 

[TheGhzGuy]

4 minutes ago, TheGleaner said:

Even the newer currencies? (nonbitcoin)

 

That I am less informed about. So I am unsure. 

[Enderman]

You're about 10 years late.

[TheGleaner]

6 minutes ago, Enderman said:

You're about 10 years late.

Meh might as well have an idea in case the next bitcoin comes around.

 

And for efficiency anything I own is quote on quote "inefficient"

[Enderman]

3 minutes ago, TheGleaner said:

Meh might as well have an idea in case the next bitcoin comes around.

 

And for efficiency anything I own is quote on quote "inefficient"

Just do boinc or folding, it's not as useless and a waste of time.

[TheGleaner]

8 minutes ago, Enderman said:

Just do boinc or folding, it's not as useless and a waste of time.

Yeah but I want some type of return. that, in one way could be seen as a waste(have they ever found anything with folding?)

[Enderman]

4 minutes ago, TheGleaner said:

Yeah but I want some type of return. that, in one way could be seen as a waste(have they ever found anything with folding?)

You could look it up

[Dzzope]

What do you mean by "found anything".

 

Folding provides massive amounts of valuable computer cycles to data processing and analysis tasks within research projects. If your talking about SETI.. then no, they haven't found aliens... But cancer research and others are worthwhile causes and I'm sure the massive quantities of number crunching has been invaluable to various projects.

 

It's not like the movies... put in loads of numbers then wait and ding here's the cure for death...

[TheGleaner]

Yeah but I mean anything world changing(ie a cure for x cancer) the only things I have found were what looked to be a technical paper on it, and when given to a relative who deals in disease research, basically said 'i don't want to read it as I have read 4 of them and its not nothing major'

 

More or less at the current setup/rate of finding something, I can't afford to do it anymore, thus the need for a return

[Teddy07]

It is all about the electricity costs for you. I highly doubt that it is worth in your country.

 

For example, I pay 0,23 € per kw/h and it is not even close to be profitable. Yeah Germany has pretty high electricity costs.

[SageOfSpice]

Eh.. Mining could sort of still be worth it, and particularly with alt coins.

With an extremely unoptimized setup, my rig pulls in about $60/month after electrical fees. If I estimated the card would last 2 years, that's $1,440 over it's life-span. Non-stop operation, mind. That's a single card. Find a way to get a few of them going, and make the whole operation power efficient, and you could have some nice passive currency generation. I'm still learning myself, though. It'd take some pricing out, and a lot of learning, but I would say it's still possible. It just requires some accessory knowledge to really make it profitable, and worth the investment of time.

[TheGleaner]

6 hours ago, Teddy07 said:

It is all about the electricity costs for you. I highly doubt that it is worth in your country.

 

For example, I pay 0,23 € per kw/h and it is not even close to be profitable. Yeah Germany has pretty high electricity costs.

Mine varies from 10 us cents to 4 us cents.

[TheGleaner]

3 hours ago, SageOfSpice said:

Eh.. Mining could sort of still be worth it, and particularly with alt coins.

With an extremely unoptimized setup, my rig pulls in about $60/month after electrical fees. If I estimated the card would last 2 years, that's $1,440 over it's life-span. Non-stop operation, mind. That's a single card. Find a way to get a few of them going, and make the whole operation power efficient, and you could have some nice passive currency generation. I'm still learning myself, though. It'd take some pricing out, and a lot of learning, but I would say it's still possible. It just requires some accessory knowledge to really make it profitable, and worth the investment of time.

So what currency/setup would you recommend?

[Spoonzio]

check out nicehash, it mines whatever that is profitable

[TheGleaner]

Here is another question: should I invest in a cheapish dedicated miner (standalone) or use my mid tier computer? 

[TheGleaner]

2 hours ago, Spoonzio said:

check out nicehash, it mines whatever that is profitable

So why does my antivirus keep saying that it has a trojan?

[2FA]

4 hours ago, TheGleaner said:

So why does my antivirus keep saying that it has a trojan?

There are a lot of other trojan software (non-mining software) that turn your PC into a zombie miner, hence miners get flagged as malware when they really aren't.

[Princess Luna]

17 hours ago, TheGleaner said:

Yeah but I want some type of return. that, in one way could be seen as a waste(have they ever found anything with folding?)

Fold for EVGA, they pay you.

[TheGleaner]

22 minutes ago, Princess Cadence said:

Fold for EVGA, they pay you.

I would be about 100000 points off though and its not exactly a long term solution

 

[Princess Luna]

2 minutes ago, TheGleaner said:

I would be about 100000 points off though and its not exactly a long term solution

 

Nowadays nobody does this for a living to begin with, you need money do the old fashion way by working... it is the "sad" reality that your home PC can't make you money effectively on it's own.

[TheGleaner]

3 minutes ago, Princess Cadence said:

Nowadays nobody does this for a living to begin with, you need money do the old fashion way by working... it is the "sad" reality that your home PC can't make you money effectively on it's own.

yeah I know but couple extra dollars is a couple extra dollars

[TheGleaner]

to me it looks like if I could find a mining machine that worked on most/all mining styles you could still make some money

[TheGleaner]

so then you can use a asic miner on nicehash?