I looked it up and it looks like there's at least some sort of reward for doing it with a home PC?
My short answer would be no…but then I haven’t looked into it for a while. The last time I was reading about bitcoins I think they were using asic’s. It’s been a while, things could have changed.
Thought it grew something like 600% a little while ago based on the US courts or government stating that it is legal.
A mate has some and he buys fruit and veg delivered to his door all the time using it.
Sounds interesting, but it’s mostly conspiracy theorist types that I see interested in it.
Any computer can earn coins, but it can take an effect on your system. One half decent system won't earn you a lot (won't even cover the costs).
I still think it's a slow burn by a group of clever Nigerians
If people find themselves ripped off by someone using it, then don't come crying.
The only recourse is if you know a few nasty people with AK-47's.
is it still fluctutating like a crazy person?
we convinced a guy at work to buy $2k worth about 6 months ago, it dropped by about 50% that week. :lol: no idea where it's at now...
is it still fluctutating like a crazy person?
we convinced a guy at work to buy $2k worth about 6 months ago, it dropped by about 50% that week. :lol: no idea where it's at now...
I think one is worth between 900-1k Australian ATM
I think one is worth between 900-1k Australian ATMis it still fluctutating like a crazy person?
we convinced a guy at work to buy $2k worth about 6 months ago, it dropped by about 50% that week. :lol: no idea where it's at now...
Yeah, I hope he thanked you...
shiiitttt. i think he jumped on at about $200 or so. sweet.
Um, you only need “specialised” hardware to ‘mine’ digital currency if you want to do it quicker. I work with guys who mine Dogecoin in the background on their work machines using the GPU. Just doesn’t happen as quickly as if you have a dedicated machine.
Digital currency is quickly becoming the realm of neck bearded fedora wearing libertarian flogs, anyway.
"quickly becoming"? Don't you mean "is"?
http://www.maximumpc.com/bitcoin_mining_101
I've just tried the above and set it up on my pc. I will tell you this. Be prepared for your graphics card to work really hard. I have an XFX R7950 Ghost edition and the temperature has nearly doubled. The fan on the graphics card is also working at full speed.
Its churning out about between 300 and 500 Mhash/s.
I started it about 12:30pm. I'll report later how much (if any) it's earned.
* I should mention to the pc is in a corsair 750d tower. Heat generally isn't an issue.
One more comparison on another PC running a GTX 560 Ti get about 80 / 90 Mhash/s.
Fans also running on max now.
Don't AMD cards work better than Nvidia?
Edit: For this application.
Certainly seems that way. Big difference above.
Ok here are the results. I've had to stop a bit prematurely due to severe heat issues.
- So with Bitcoin and the XFX R7950 Ghost we've mined 0.0000952BTC or $0.075208 USD in 3 hours assuming one bitcoin is worth $789.15 USD.
However, this was with the graphics card running at 95C on average. This is and the extreme end of 'safe' for this particular graphics card and you wouldn't want to run it at this temperature 24 hours a day.
I switch the other pc over to litecoin to see what it was all about as well.
- So with Litecoin and the Gigabyte GTX650Ti it's earned 0.00013474LTC or $0.028281926 USD in about 1 hour assuming one litecoin is worth $20.99 USD.
This was processing about 127khash/s.
GPU temperature is around the 75C range. Hot but ok (within safe parameters).
Given as well that none of the blocks were completed that I could tell (a block is split amongst users to complete as doing it solo would take a bout 1 year for a solo user to complete) my work for today comes to a total of $0.00.
As a reference you can get dedicated bitcoin miners. Using ebay and getting 5 x 1600mh/s machines, you would pay $445 + electricity for a year and earn $307.50 per annum assuming one bit coin is worth $789.15 (today's rate). Even if the value of bitcoins doubled this year, your payout will still be marginal.
So Soulnet's conclusion is... don't waste your time :)
3 Likes
Ok here are the results. I've had to stop a bit prematurely due to severe heat issues.
- So with Bitcoin and the XFX R7950 Ghost we've mined 0.0000952BTC or $0.075208 USD in 3 hours assuming one bitcoin is worth $789.15 USD.
However, this was with the graphics card running at 95C on average. This is and the extreme end of 'safe' for this particular graphics card and you wouldn't want to run it at this temperature 24 hours a day.
I switch the other pc over to litecoin to see what it was all about as well.
- So with Litecoin and the Gigabyte GTX650Ti it's earned 0.00013474LTC or $0.028281926 USD in about 1 hour assuming one litecoin is worth $20.99 USD.
This was processing about 127khash/s.
GPU temperature is around the 75C range. Hot but ok (within safe parameters).
Given as well that none of the blocks were completed that I could tell (a block is split amongst users to complete as doing it solo would take a bout 1 year for a solo user to complete) my work for today comes to a total of $0.00.
As a reference you can get dedicated bitcoin miners. Using ebay and getting 5 x 1600mh/s machines, you would pay $445 + electricity for a year and earn $307.50 per annum assuming one bit coin is worth $789.15 (today's rate). Even if the value of bitcoins doubled this year, your payout will still be marginal.
So Soulnet's conclusion is... don't waste your time :)
LOLZ, was my conclusion two....a couple of pages back ;)
Nothing like personal experience :)
I can't a senario even earlier on (say 2 / 3 years ago) when 1 bitcoin was worth 1 USD why it could have been worthwhile unless you truly believed that the value of 1 bitcoin was going to go berzerk, which it did.
Nothing like personal experience :)
I can't a senario even earlier on (say 2 / 3 years ago) when 1 bitcoin was worth 1 USD why it could have been worthwhile unless you truly believed that the value of 1 bitcoin was going to go berzerk, which it did.
Agreed re the personal experience.....re the second scenario, they were a lot easier to 'mine' way back when.