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Old 15-01-14, 07:43 AM
xTHExxFALLENx xTHExxFALLENx is offline
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Is bitcoin mining worth it?

Hello everyone. I just wanted to ask all of you guys is bitcoin mining really worth it? If so can you tell me the best possible setup for for the most optimal results. Sorry for probably posting in the wrong section, I'm new to this site. Thanks in advance everyone!

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Old 15-01-14, 08:45 AM
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EddWills95 EddWills95 is offline
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The difficulty is immensely high, so going it alone. Good Luck. You're going to need some of those butterfly labs cards (bout $2k)

There are a ton of sites for setting it up in windows, Updating your block chain, picking a miner, choosing a pool etc.

Or you can do it in linux.

In terms of set-up the general consensus is that AMD cards are far and away better for this. Cuda isn't really optimised for mining, in the same way that it is for other applications.
So I guess if you're going to do it outright, AMD cards are the way to go. (Again loads of sites will tell you which have the best hash rate etc.)

You might want to consider another crypto-currency though, as i'm thinking about going down a litecoin route, because the difficulty isn't as hard and with the hype around bitcoin, i'm sure something is going to happen sooner or later.

Like I say, once the price went past $500, people started making loads of guides on how to get this up and running. There's not really one clear one or another, because the miners will be slightly different, the settings for each pool differ (and the way in which you get paid for you efforts within differ)

Hope i've helped somewhat, if being somewhat vague ;p

Edit: Yes i have a feeling this is in the wrong section
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Old 15-01-14, 01:19 PM
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Thread moved.

From what I've heard you're better off going for alternatives such as feathercoins or litecoins.
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Old 15-01-14, 02:22 PM
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GPUs are useless for bitcoin mining now, you need ASIC hardware to make a go at it. Like Feronix said you are better off with some other coin. I've seen soo many people now shell out big for hardware only to sell it off later and break even or lose their ass. The cryptocoin market is very volatile and losing your wallet to thieves is a real concern. Not being centrally controlled is a huge plus and a huge negative at the same time.
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Old 15-01-14, 05:19 PM
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tried it for a couple weeks before i got sidelined with an illness that kept me out of work for a month. Decided to stop it until i got back to work and ele bill needed paying right away but mining didnt pay that quickly lol. Needless to say i saw a 75$ jump in my bill for the 2 weeks I did mine (doing XMP on 12 cores and litecoins on 4 cards) If I cashed out now I'd have a whopping 45$ from the 2 weeks of mining subtract the 75$ jump in ele bill means I lost 30$. So unless you have alot of energy efficient rigs pumping out the mining its not worth it. Most sucessful miner with alt coins use boards with like 5-6 pci-e slots to fill a single rig you'll have to use pci-e risers and build a custom rack to keep heat under control. So not barring the ele charges you'll drop a ton into buying the parts again not worth it. As folks know which parts work the best and they get premium $$$ for them.
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Old 15-01-14, 09:16 PM
xTHExxFALLENx xTHExxFALLENx is offline
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So what should I do? Would one of these be worth it?

https://products.butterflylabs.com/h...oin-miner.html

Thanks for the replies guys!
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Old 15-01-14, 10:29 PM
d3rrial d3rrial is offline
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Originally Posted by xTHExxFALLENx View Post
So what should I do? Would one of these be worth it?

https://products.butterflylabs.com/h...oin-miner.html

Thanks for the replies guys!
Do not, I repeat DO NOT buy anything from Butterfly Labs.

They are known to not ship their products until they are worthless. The 25GH miner you see there will never ever make back its costs. My 2 R9 290X cards make more money than that.

I personally mine with my GPUs on the Pool "middlecoin.com" and I make around 5€ per day at electricity costs of around 2€ per day.
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