Bitcoin Mining
 

Hi...

Im just wondering if anyone here actually uses bitcoin mining and if so what do they use etc?

Thanks

Re: Bitcoin Mining
 

Not sure what's being used now but a year or so ago it was AMD cards like the 280x/290 that were predominantly being used by miners. I don't keep up with it but the impression i have is it's no longer worth doing as much as it was before, prices were up to ~$1000 per bitcoin and are now around $250.

There are loads of different coins nowadays though, no idea whether some of the others are doing better.

Re: Bitcoin Mining
 

Electricity costs more than you'll make using pretty much anything. It's futile without buying ASIC miners.

Re: Bitcoin Mining
 

Correct, except if somebody else is paying for the electricity.

Re: Bitcoin Mining
 

But if you have your PC on anyway and the software in the background its not going to really cost much more.

Re: Bitcoin Mining
 

Yes it will. There's a big difference between a PC sitting there just on, watching the odd movie and browsing the internet and mining 24/7 at full load. You're talking 4x and up depending on the setup.

Re: Bitcoin Mining
 

If your PC is that inefficient you would save more money in electricity in one year by buying a new PC.

Re: Bitcoin Mining
 

If you use it when the PC is "idle", then it is no longer idle - it's caning the hell out of the GPU, with GPU mining losing out to ASICs ... for instance, you could mine with 4 USB ASICs driven by a Raspberry Pi (on a powered hub!), and it would probably blow the socks off any GPU based solution!

In winter, I suppose you could combine mining and heating ;-)

Re: Bitcoin Mining
 

I looked into it last year and as incog says asic would be the way to go if you wanted to make more than a couple of quid but their cost and electricity costs really do far outweigh the potential profit. If I can find it there is a good YouTube video explaining it down to the inth detail that's worth a watch.