CPU Mining?

[DrDerp]

So I am personally wondering whether or not to get into CPU mining. I don’t personally pay for electricity and can’t afford a GPU, but wanna finish my PC. I have everything I need, Power Supply, motherboard, CPU, monitor and Case. Is there any reason not to mine with this other than because people hate mining?

 

Edit: I have a Core i5 2400.

[MCManiac52]

1 minute ago, DrDerp said:

So I am personally wondering whether or not to get into CPU mining. I don’t personally pay for electricity and can’t afford a GPU, but wanna finish my PC. I have everything I need, Power Supply, motherboard, CPU, monitor and Case. Is there any reason not to mine with this other than because people hate mining?

 

Edit: I have a Core i5 2400.

CPU mining is pretty pointless to be honest. You can do it if you want, but you won't be making anything worth bragging about. Even GPUs are becoming less effective when mining because of the difficulty, and all the people buying ASICs. By all means use your CPU, but you won't be gaining much from it, unless you're room is cold, then you've got a very expensive space heater!

[tarfeef101]

No, no you should not.

Especially of overclocking, you will shorten it's lifespan.
It won't even make you money unless you don't pay for power. 
With my 6600K at 4/9 GHz it makes probably as much or less than my 950M in my laptop... SO not worth it. I do it cause I don't pay for power and live in a super cold place and need the heat.

[DrDerp]

1 minute ago, tarfeef101 said:

No, no you should not.

Especially of overclocking, you will shorten it's lifespan.
It won't even make you money unless you don't pay for power. 
With my 6600K at 4/9 GHz it makes probably as much or less than my 950M in my laptop... SO not worth it. I do it cause I don't pay for power and live in a super cold place and need the heat.

I don’t pay for power either, and need some money to actually get a GPU. Can’t it make money if in a pool?

[tarfeef101]

Just now, MCManiac52 said:

CPU mining is pretty pointless to be honest. You can do it if you want, but you won't be making anything worth bragging about. Even GPUs are becoming less effective when mining because of the difficulty, and all the people buying ASICs. By all means use your CPU, but you won't be gaining much from it, unless you're room is cold, then you've got a very expensive space heater!

GPU mining is still good, an antminer s9 would net me about 600ish bucks or so, while a GTX 980 would be about 150 or so. but I can get a few 980s for much less than the 5 thousand dollar plus (CAD) prices on s9s I've been seeing as of late.

[tarfeef101]

Just now, DrDerp said:

I don’t pay for power either, and need some money to actually get a GPU. Can’t it make money if in a pool?

No. Not really, no. 

[MCManiac52]

1 minute ago, tarfeef101 said:

GPU mining is still good, an antminer s9 would net me about 600ish bucks or so, while a GTX 980 would be about 150 or so. but I can get a few 980s for much less than the 5 thousand dollar plus (CAD) prices on s9s I've been seeing as of late.

Ah okay, makes sense. Although it probably won't stay that way for too long unless Nvidia kill it with Volta

[tarfeef101]

2 minutes ago, MCManiac52 said:

Ah okay, makes sense. Although it probably won't stay that way for too long unless Nvidia kill it with Volta

there'll always be more currencies that pop up where the difficulty is low or the algorithm isn't ASIC-ed yet... You just gotta use a miner that auto-optimizes (or be on top of shit). at least until the world collectively decides that only a few currencies should exist and let the rest die

[DrDerp]

Well, thanks guys. It’s too bad, as I would very much like to try earning some money with what I have instead of letting it sit till I get all my parts.

[MCManiac52]

1 minute ago, tarfeef101 said:

there'll always be more currencies that pop up where the difficulty is low or the algorithm isn't ASIC-ed yet... You just gotta use a miner that auto-optimizes (or be on top of shit). at least until the world collectively decides that only a few currencies should exist and let the rest die

Lets hope that's soon, but not before the next bitcoin jump. I'm not too involved in it, I just run my 1060 on nicehash when i'm not using my PC, my friend runs a 1080 to the same wallet in his spare time too, we split what we earn, so far we haven't done too bad.

[DrDerp]

Just now, MCManiac52 said:

Lets hope that's soon, but not before the next bitcoin jump. I'm not too involved in it, I just run my 1060 on nicehash when i'm not using my PC, my friend runs a 1080 to the same wallet in his spare time too, we split what we earn, so far we haven't done too bad.

Wasn’t there something bad about NiceHash?

[tarfeef101]

Just now, DrDerp said:

Wasn’t there something bad about NiceHash?

yeah they got hacked a while ago. 

But as long as you withdraw every time you hit the minimum to Coinbase (since that's much lower than to a private wallet, and there's no fees), you don't risk much loss

[MCManiac52]

3 minutes ago, DrDerp said:

Well, thanks guys. It’s too bad, as I would very much like to try earning some money with what I have instead of letting it sit till I get all my parts.

No problem, I'd recommend saving up for a decent GPU and start mining on that when you get it, or if you want to go a more risky way, buy a cheaper GPU, mine with it for a while and  see what you can earn for an upgrade.

[DrDerp]

1 minute ago, MCManiac52 said:

No problem, I'd recommend saving up for a decent GPU and start mining on that when you get it, or if you want to go a more risky way, buy a cheaper GPU, mine with it for a while and  see what you can earn for an upgrade.

I mainly wanted to mine so I could afford a GPU and some upgrades. ‘Tis a tad bit of a struggle, but I’ll be fine waiting.

[MCManiac52]

1 minute ago, DrDerp said:

Wasn’t there something bad about NiceHash?

Yeah there was a hack a couple of months ago, it's all been sorted as far as I'm aware though, and nothing of mine got stolen.

Just now, tarfeef101 said:

yeah they got hacked a while ago. 

But as long as you withdraw every time you hit the minimum to Coinbase (since that's much lower than to a private wallet, and there's no fees), you don't risk much loss

I didn't know about that, I've just been having it pay out to my private wallet. How is it that coinbase is so much better to withdraw to?

[Bhav]

What about burstcoin mining on HDD?

[DrDerp]

2 minutes ago, Bhav said:

What about burstcoin mining on HDD?

Wat?

Thats not an actual thing right?

[tarfeef101]

12 minutes ago, MCManiac52 said:

Yeah there was a hack a couple of months ago, it's all been sorted as far as I'm aware though, and nothing of mine got stolen.

I didn't know about that, I've just been having it pay out to my private wallet. How is it that coinbase is so much better to withdraw to?

Well... Paying out to coinbase is faster (lower minimum), and free (no fee).

and you can go from coinbase to GDAX for free, and from GDAX to whatever wallet you want without a fee. 

So that's why

[knightslugger]

4 minutes ago, DrDerp said:

Wat?

Thats not an actual thing right?

yes it is, but it's pretty useless concept.

 

If you CPU mine, you'll be waiting a year before you get $300 worth of crypo. with current GPU rates, you'll have enough in about 5 years for a pretty shitty one.

With an OC'd 8 core at 3.9GHz i get $1.50/day BEFORE i pay the light bill.

[DrDerp]

One last question. If Mining isn’t viable, is investing in it? I don’t know if I like these markets, but I would very much like a GT 1030 or GTX 1050 and an SSD with more than 4 gigs of RAM.

[knightslugger]

Just now, DrDerp said:

One last question. If Mining isn’t viable, is investing in it? I don’t know if I like these markets, but I would very much like a GT 1030 or GTX 1050 and an SSD with more than 4 gigs of RAM.

investing in it CAN BE, but the crypto market is INSANELY unstable.

[DrDerp]

Just now, knightslugger said:

investing in it CAN BE, but the crypto market is INSANELY unstable.

Like I said, I don’t like these markets. But if I can pick up a few Alt-Coins and they get a decent spike, I could sell it and get money.

[knightslugger]

29 minutes ago, DrDerp said:

Like I said, I don’t like these markets. But if I can pick up a few Alt-Coins and they get a decent spike, I could sell it and get money.

well, you can sell it and get a different crypto anyway. very few exchanges give cryto to fiat without high fees.

[MCManiac52]

5 hours ago, tarfeef101 said:

Well... Paying out to coinbase is faster (lower minimum), and free (no fee).

and you can go from coinbase to GDAX for free, and from GDAX to whatever wallet you want without a fee. 

So that's why

Oh okay cool, I might look into that.

[mariushm]

You can mine Monero and cryptonight based coins using your cpu, though video cards will be 10 to 100 times faster than your cpu. For example my FX8320 cpu does 160-200 hashes per second while video cards like RX 570  do 700-1000 hashes per second, maybe more. 

 

If you use a pool that pays at some low threshold (like let's say 0.1 monero or something like that) at the end of the month (less than 20-30$) by mining with just your processor.

Probably not worth it as you'll pay for electricity maybe 5$ if you keep that pc running 24/7