Profitability of coin mining

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B

Benfica

European Redneck
Feb 6, 2006
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See the profit here: http://www.coinwarz.com/cryptocurrency

Enter the values on the Kh/s column, from this hardware table:
https://litecoin.info/Mining_hardware_comparison

Example: at this time, a single ATI 7950 earns you $10/day


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2nd part:
Edit: if you want to mine for free and play around with cloud computing ...

1a) Sign up for 30 day trial at http://www.windowsazure.com/en-us/pricing/free-trial/, that gives you $200 credit
1b) Sign up for http://aws.amazon.com/ and then go to https://aws.amazon.com/awscredits/, to request a $100 credit coupon.

You need a valid credit card and phone for validation of azure and amazon. They don't change, but keep an eye on your remaining credit.
2) Create Linux virtual machines. 2 Ubuntu Virtual Machines with 8 cores at Azure and an EC2 (AMI or ubuntu) Linux "compute optimized" instance at Amazon

2) Sign up at the ypool.net pool in order to mine the protoshares coin
3) Go to the "How to" and download the 64 bit optimized linux "generic" for Azure and the "corei7sse4" for Amazon. Use the 1024MB/thread version
4) Sign up at bter.com, in order to get a protoshares (pts) deposit address, and sell them for mili-bitcoins

you can pull $100+ worth of bitcoins out of this. If you don't care, you can use the credit to check out Windows Server, Linux, Amazon virtual gaming consoles, business oriented services and software, etc...

If someone is interested, I'll improve this tomorrow and provide help

Edit: to be compatible with fucktards and thread-crappers, here goes the disclaimer that I wasn't aware it was needed: do this 2nd part AT YOUR OWN RISK.

Edit2: the original thread where I learned part of the above: https://bitcointalk.org/index.php?topic=345073.0
 
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Hadmar

Hadmar

Queen Bitch of the Universe
Jan 29, 2001
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Rambowjo said:
How can you pull $100 of buttcoins out of it, when one unit is worth nearly a thousand dollars?
Click to expand...
You take an axe and drive it through your display, therefore splitting the bits in two. This effectively creates qbits. They are pretty valuable but the yield is low, so for one split display you average at around $100.

(Bitcoins can be divided up to 8 decimal places.)
 
B

Benfica

European Redneck
Feb 6, 2006
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Of one thing I'm pretty sure after the first replies: whoever wants to try or not try this, are on their own.
 
Hadmar

Hadmar

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Well, letting Amazon and Microsoft's marketing budget pay for your mining is an interesting idea. It's just not for me.
 
BillyBadAss

BillyBadAss

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May 25, 1999
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It's a waste of time. Just get a real job that pays more money and waste your time on fun things rather than get rich quick/easy scams. They don't work.
 
Rambowjo

Rambowjo

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Aug 3, 2005
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BillyBadAss said:
It's a waste of time. Just get a real job that pays more money and waste your time on fun things rather than get rich quick/easy scams. They don't work.
Click to expand...

Except this isn't really a scam, but rather a gimmicky currency gone wrong. The premise of bitcoins was interesting, but it's turned into a complete abomination. Can't really expect people to give you stuff for what is literally worth nothing. It's like going into the supermarket and paying with Ist runes. It's insane.
 
Wormbo

Wormbo

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Jun 4, 2001
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TBH I'd rather donate about 8000 BOINC credits/day to science (Geforce GTX 760 here) than make the equivalent of 10$/day in a currency whose stability has yet to be proven. That's probably just as good as donating real money.
 
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Hadmar

Hadmar

Queen Bitch of the Universe
Jan 29, 2001
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Well we certainly don't need 46 Bitcoin clones. It should have been taken as a first step - see where the problems are and then develop something better.
Not being being backed by a nation is not one of it's problems, though.
 
J

Jackal

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Nov 13, 2003
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I was listening to NPR talk about buttcoins the other day. The US Supreme Court even had a day long (or more) talk about it, where it's going, and what they plan to do about it.

I tried to setup a buttcoin miner on the work PC, because it just sits there, on, for weeks/months on end so I thought even if I could make one buttcoin, it'd be worth it to me. I just have no clue what to do. I did download something that took a week to update. Something about 275k transactions. Slow internet (3MB/S) I assume is what took so long.
 
OO7MIKE

OO7MIKE

Mr. Sexy
May 2, 2000
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Its not a wast of time if you have the right hardware and you are using someone elses power to do it with. hehe

CPU's and GPU's are nearly worthless for bitcoin mining because you will barely break even from the cost of the hardware and the cost of power.

Right now ASIC hardware are the way to go. They consume less power and they process 50x times faster for the same price as a midrange video card.

These are hot and cheap: https://products.butterflylabs.com/homepage/5-gh-s-bitcoin-miner.html

A better hardware list: https://en.bitcoin.it/wiki/Mining_hardware_comparison

Right now it seems that the only folks getting rich are:

1. Those who were really early in the game when it was easy.. and they held onto their coins and are now cashing in.
2. Those who make and sell the new ASIC hardware. Some only accept bitcoins as payment!
3. Those who are trading services for bitcoins.
4. Those who go into group buys for hardware and split the rewards. The best hardware is super expensive, but you can make it all back with in a week or two.
5. Got lucky and had patience with your hardware.

I read a lot of stories about people making money at first, but then they invested 10k into it, made more money, but then saw a pattern were they couldnt keep up because the money they made just went back into getting faster hardware so they could keep up with the increased difficulty and time to get a bitcoin.

I totally get it though. The urge to make easy money is the draw. It is easy money, but you have to invest a lot to get enough back to make it worth your while. I know enough about it to say that, its only worth it if you have a few ASIC machines and you are using someone elses power. Keep it plugged into your work computer and run it 24/7 LOL
 
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Plumb_Drumb

Plumb_Drumb

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Mar 19, 2002
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I read the title of the thread.

It looked boring, and then I was treated to more boring ****.

Benfica said:
Of one thing I'm pretty sure after the first replies: whoever wants to try or not try this, are on their own.
Click to expand...

Nuhuh! Thanks master guru of of knowledge !
Without your reasoning I thought I would have been here on my own.
 
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