Do any other CRHers Mine Bitcoin?

[nube250]

I started a few months ago and only have about 0.6 bitcoin to show for it. Any suggestions?

Asrock Extreme 4
Intel i5 3570k
8gbs Ram
Asus HD 7870

 

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[TheMastermind]

Haha, I have an old hand-me-down Dell computer that I've upgraded slightly over the years with parts from the computers my friends and family were getting rid of. I can barely run a graphics-heavy website let alone mine bitcoins.

I have a degree in computer science; and a secure digital currency that was paid to people for filling out surveys and the like, with mock online stores where they could make transactions with said currency, was my senior project. So, I have a warm place in my heart for bitcoins and the idea behind it. I appreciate the effort involved, I just don't have the hardware at my disposal.

 

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[GarouLady]

don't know what this is, but reading all the replies, makes my head hurt. LOL.

Sincerely, Garoulady

 

[Count Skrule]

i heard a bit about this on npr a few days ago. some guy said he put his savings into it. i don't see how this could last. mining coins.

 

[B Street Blacksmith]

I actually mine bitcoins, and have for a good while.

GPU mining for bitcoin is dead. To make any profit on bitcoin, you need ASIC miners (Application-specific integrated circuit).

I manage a 4th/s (terahash per second) mining operation, which makes roughly 1/3 of a bitcoin each day at the moment.

They will be expanding to a total of 100 th/s within the next three months.

To mine cryptocurrencies with GPU's, you need to look at Scrypt based currencies.

 

[50cent]

I really think to mine bitcoins much anymore you have to have multiple GPUs/video cards.

Myself, I think bitcoins have a place in commerce, but both the dollar and bitcoins have a crucial flaw: they are unbacked by any commodity and therefore worthless.

Like the US Dollar?

 

[nube250]

I was gpu mining, I have since stopped but I had mined about 2 btc. I used a site called bitmit (closed at the end of last year) it was like ebay for spending btc. I bought 7x free12 month netflix codes $95.88 value and gave most of them as gifts. I also bought a carton of smokes, a modem, and $50 in video games. So I made +/- $800 mining. I'd say it was worth it but now it's getting to hard to mine..

 

[B Street Blacksmith]

if you have the right equipment, it's still really easy to mine. but the days of buying a graphics card to mine bitcoin is long gone

Sent from my SCH-S720C using Tapatalk 2

 

[jambone]

Jonesy's Son, I have looked into mining on more than 1 occasion. Now, I am under the impression that you have to upgrade equipment fairly frequently - is that the case? At what rate do you have to mine in order to cover the expense of the equipment and the cost of electricity?

 

[B Street Blacksmith]

Jonesy's Son, I have looked into mining on more than 1 occasion. Now, I am under the impression that you have to upgrade equipment fairly frequently - is that the case? At what rate do you have to mine in order to cover the expense of the equipment and the cost of electricity?

That depends on your costs. I estimate using my cost per gigahash. If you keep your costs low, and want to expand the way we are, we put roughly 75% of our income back into more miners. This lets us grow our $/day, while still taking out a substantial amount of capitol per day/week/month.

 

[50cent]

That depends on your costs. I estimate using my cost per gigahash. If you keep your costs low, and want to expand the way we are, we put roughly 75% of our income back into more miners. This lets us grow our $/day, while still taking out a substantial amount of capitol per day/week/month.

What do you buy with all them bitcoins?

 

[B Street Blacksmith]

Lots of things.

Just some of the things:
More mining hardware
Network Hardware
Backup AC unit
Bounty Hunter Time Ranger Metal Detector
Brushless RC Car
New Computer
New Cell Phone
LOTS of Kindle Books for my wife

and several other items

 

[TheMastermind]

Damn, forgot about this thread!

 

[Jaromoney]

I actually mine bitcoins, and have for a good while.

GPU mining for bitcoin is dead. To make any profit on bitcoin, you need ASIC miners (Application-specific integrated circuit).

I manage a 4th/s (terahash per second) mining operation, which makes roughly 1/3 of a bitcoin each day at the moment.

They will be expanding to a total of 100 th/s within the next three months.

To mine cryptocurrencies with GPU's, you need to look at Scrypt based currencies.

Huh What did he say?

 

[50cent]

Huh What did he say?

He's making money hand over fist.

 

[Coldshuz]

There is a thread about this that was active for a while, but has some great info in it.

http://www.treasurenet.com/forums/stocks-investments-markets/397494-off-topic-bitcoin.html

 

[jd750707]

I asked my bank for rolls of bitcoins and they virtually laughed...



(I'm kidding of course)

 

[Uncle Ben]

I asked my bank for rolls of bitcoins and they virtually laughed... (I'm kidding of course)

Very funny !! .... And I'm NOT kidding.