02-04-2015, 15:08
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#1
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R.I.P.
Join Date: Jun 2012
Location: Swansea, South Wales UK.
Age: 74
Services: XL Phone, XXXL Gig1 BB SH4 (wired).
Posts: 2,753
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Bitcoin Mining
Hi...
Im just wondering if anyone here actually uses bitcoin mining and if so what do they use etc?
Thanks
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02-04-2015, 15:21
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#2
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Inactive
Join Date: Mar 2010
Location: Over there
Posts: 1,096
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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.
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02-04-2015, 15:25
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#3
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Inactive
Join Date: Jun 2008
Location: Leeds, West Yorkshire
Age: 47
Posts: 13,995
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Re: Bitcoin Mining
Electricity costs more than you'll make using pretty much anything. It's futile without buying ASIC miners.
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02-04-2015, 15:58
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#4
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cf.mega poster
Join Date: Aug 2004
Posts: 11,207
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Re: Bitcoin Mining
Quote:
Originally Posted by Ignitionnet
Electricity costs more than you'll make using pretty much anything. It's futile without buying ASIC miners.
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Correct, except if somebody else is paying for the electricity.
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02-04-2015, 18:08
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#5
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R.I.P.
Join Date: Jun 2012
Location: Swansea, South Wales UK.
Age: 74
Services: XL Phone, XXXL Gig1 BB SH4 (wired).
Posts: 2,753
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Re: Bitcoin Mining
Quote:
Originally Posted by Ignitionnet
Electricity costs more than you'll make using pretty much anything. It's futile without buying ASIC miners.
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But if you have your PC on anyway and the software in the background its not going to really cost much more.
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02-04-2015, 18:25
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#6
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Inactive
Join Date: Mar 2010
Location: Over there
Posts: 1,096
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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.
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02-04-2015, 22:27
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#7
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cf.mega poster
Join Date: Aug 2004
Posts: 11,207
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Re: Bitcoin Mining
Quote:
Originally Posted by alanbjames
But if you have your PC on anyway and the software in the background its not going to really cost much more.
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If your PC is that inefficient you would save more money in electricity in one year by buying a new PC.
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03-04-2015, 00:08
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#8
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Inactive
Join Date: Mar 2004
Services: BB:M, TV:XL, Phone:M, Loyalty
Posts: 2,516
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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 ;-)
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06-04-2015, 06:54
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#9
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Inactive
Join Date: Jun 2003
Location: Mansfield
Age: 59
Services: There is no destination to life, the journey is everything!
Posts: 5,532
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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.
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