Anyone mine bitcoins?

[desura]

I don't really expect to turn a profit on this, but I'm running bitcoin because I already have the computer and my house is really cold, brrr, so maybe the extra heat will warm the place up some.

I'm on the groupfabric mining pool and from my calculations it would take me 50,000 days to accumulate 1 bitcoin.

Computer is Core i5 Ivy @3.1 ghz, Nvidia 750 ti.

Is there a better way? I'm getting 100-120 kh/s on my setup. Is this normal or are there faster clients? I would do solo mining but I can't really figure out how to do so. How do you do solo mining?

 

[Matthiasa]

Without the use of ASICs its only actually good for being a space heater, and even then its mostly good for being a space heater.

 

[lxskllr]

Without the use of ASICs its only actually good for being a space heater, and even then its mostly good for being a space heater.

Pretty much this. The bitcoin ship sailed looong ago.

 

[desura]

How easy was it to mine bitcoins when they first came out?

 

[maddogchen]

from what I hear, now is not a good time to get into bitcoin. They've come to a fork in the road where they need to make a decision on how to proceed but the biggest bitcoin players are all mining companies in China that don't want to make any changes that might affect their million dollar money machine.

 

[KB]

How easy was it to mine bitcoins when they first came out?

In the beginning it was very easy. The block chain was smaller and you got more bitcoins for solving it. In fact, the creator of bitcoin has one million bitcoins he/she amassed when it was easy to create them. I wish I got in when it first started. I could have minted coins when a pentium 3 only.

 

[Crono]

Profitable Bitcoin mining is practically an enterprise level endeavor. Right now I'm mining Ethereum.

If you just want some cryptocurrency as an investment, it takes far less time and no mining hardware to buy it outright on a market.

 

[desura]

Profitable Bitcoin mining is practically an enterprise level endeavor.

Right now I'm mining Ethereum.

how do you get started?

I just need something for my computer to chew on during the day.

 

[maddogchen]

how do you get started?

I just need something for my computer to chew on during the day.

What about SETI?
http://setiathome.ssl.berkeley.edu/

 

[desura]

What about SETI?
http://setiathome.ssl.berkeley.edu/

I did SETI long ago. I don't believe in it.

 

[Crono]

how do you get started?

I just need something for my computer to chew on during the day.

https://ethereumpool.co/how/

You'll have to set up an Ethereum wallet first to get an address or (potentially risky to trust) generate one online.

Right now NVIDIA cards still aren't as efficient as AMD cards for GPU mining (though the gap narrowed with Maxwell) so I get around ~7 mhash with my GTX 970 vs 13 with my R9 270 or older HD 7870 (essentially the same card... could crossfire them if I wanted to).

For CPU mining I don't think anything works well anymore except some niche crypto... last I did for any significant length of time for CPU was primecoin two years ago. Not sure if X11 algorithm based ones like Dash are still CPU friendly, but they were at one point. My GTX 750 (non-TI) was getting 1,000 khash on X11 before I retired it. Power efficient card, but not very effective for mining on its lonesome.

 

[Crusty]

Pretty much this. The bitcoin ship sailed looong ago.

Why do you say that? It's not like they are worthless or anything when you can sell one Bitcoin for about $400.

 

[lxskllr]

Why do you say that? It's not like they are worthless or anything when you can sell one Bitcoin for about $400.

Can't reasonably mine them with a home rig.

 

[Ken g6]

I did SETI long ago. I don't believe in it.

There's lots of other projects you can work on. Some work on math problems. (See my sig. ) Some work on cures for diseases. Those of us who like to work on these projects hang out in the Distributed Computing forum. [thread=3533]You should join us![/thread]

 

[Crusty]

Can't reasonably mine them with a home rig.

That's a bit different than just flat out saying the 'bitcoin ship has sailed'. There are plenty of other ways to acquire Bitcoin. You could perform a service in exchange for some Bitcoin, you could buy some with cash from someone, or you can even buy some from a company like Coinbase(they track you so probably not for you though).

 

[Jeff7]

These people will be the ones who will either wreck bitcoins entirely when/if they succeed, or will amass enough to retire early.

how do you get started?

I just need something for my computer to chew on during the day.

Keep in mind that it'll suck down extra power while it's doing that. An idle machine will less power than one that's got a maxed-out CPU.

There's lots of other projects you can work on. Some work on math problems. (See my sig. ) Some work on cures for diseases. Those of us who like to work on these projects hang out in the Distributed Computing forum. [thread=3533]You should join us![/thread]

Protein folding. :thumbsup:
I did that for awhile, also SETI.
Yes, there are many to choose from if you don't mind sparing some extra electricity.

 

[desura]

There's lots of other projects you can work on. Some work on math problems. (See my sig. ) Some work on cures for diseases. Those of us who like to work on these projects hang out in the Distributed Computing forum. [thread=3533]You should join us![/thread]

ha okay. The issue I most believe in is climate science, so off I go!

 

[desura]

These people will be the ones who will either wreck bitcoins entirely when/if they succeed, or will amass enough to retire early.



Keep in mind that it'll suck down extra power while it's doing that. An idle machine will less power than one that's got a maxed-out CPU.



Protein folding. :thumbsup:
I did that for awhile, also SETI.
Yes, there are many to choose from if you don't mind sparing some extra electricity.

Eating power is the point, at least during winter. I'm not going to run it in summer.

 

[Homerboy]

Why does your computer HAVE to do "something" during the day?
How about you turn it off, or let it idle and stop sucking down juice?

 

[lxskllr]

Why does your computer HAVE to do "something" during the day?
How about you turn it off, or let it idle and stop sucking down juice?

I used to heat with my computer. It's "free" in the winter, so you might as well do something useful instead of simply burning resources.

 

[desura]

Hey so I installed BOINC and set it up...and nothing is happening. It says no work available to process.

 

[TwiceOver]

Is electric cheaper than gas where you live or what?

 

[Imp]

Wish I knew about this years ago and did some mining.

I remember Folding@Home and how people were getting self-righteous about doing that... for the children.

 

[Matthiasa]

Is electric cheaper than gas where you live or what?

Some only have the option of electrical heat as it is.

 

[Red Squirrel]

I've considered it, but from what I understand it cost more in hydro than the money you make, so unless you are off grid or have really cheap power it's not worth it. Getting the latest ASICs is also hard because the companies screw around and take forever to ship, and by the time you get them they're outdated. I was going to buy a couple of the Neptunes about a year ago but I did not want to preorder, well they never really shipped and then I just gave up with that game.

I think the only way to really be profitable now is if you design and manufacture your own ASICs.

Thing is I wish I had gotten into it when it was worthwhile, as it would kill two birds with one stone, make money and save in heating costs. Electric heat is more expensive but if the electric heaters are making me money... then it's a bonus. Put some in my server rack but also put some in every room.