Anyone here into.........

[Fastbird]

Not really. You'd have to mine for a month juts to get a pittance anymore. I have a Radeon 7970 which is a really good hasher, and it would take me upwards of 4 days running 24/7 just to mine .01 of a bitcoin now. This time last year, I was mining .25 per day. ASICs have fully come on line and have driven hash rates through the freaking roof, as well as difficulty level. If you have te money to invest in an ASIC Miner that packs a punch, you might get some return of investment.

[Blackbird96WS6]

Damn, I also just went back through and read your comment about not bothering with an Nvidia card, and I have a GTX 670 and another machine with SLI GTX 450s. SOL here lol.

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[Blackbird96WS6]

Any value in the USB Antminers for like $40-60?

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[JCzNova]

So this it to get off the grid? Leave your computer on to "mine" and get free money, until the website gets hacked of flees with your money? That sounds really awesome. I'm sure it is just my ignorance that is screaming Pyramid scheme in my head.


"Though each bitcoin transaction is recorded in a public log, names of buyers and sellers are never revealed – only their wallet IDs. While that keeps bitcoin users’ transactions private, it also lets them buy or sell anything without easily tracing it back to them. That’s why it has become the currency of choice for people online buying drugs or other illicit activities."

"Servers have been hacked. Companies have fled with clients’ Bitcoins."

[Fastbird]

It'll only get hacked if you leave it on a website. Mt. Gox had it coming, it was common knowledge their security was lacking. I kept all my bitcoins in a walled on a USB drive. I'd load it long enough to collect a mining payout, then archive it back to the USB drive. Safe and sound.

Mt Gox never had a chance for my business. It was nearly impossible to convert bitcoins into dollars. You had to jump through a couple of conversion hoops via different websites. I simply used coinbase. They're here in the US, and very easy to work with. Transfer BTC in, ACH withdrawal to my bank account out (separate account for this type of stuff ONLY).

Right now you'd need to be at approximately 77 G/Hash rate in order to make .01 BTC per day, or $7 per day. With one of those little 1.6 G/H miners, at a $660 BTC to Dollar value, you'd make about $.14 daily. that's a LONG time for payback.

The ones who are REALLY raking in the dough are the ones building and programming the ASIC miners. I looked into that but it was FAR beyond my capabilities.

[JCzNova]

So is there work to do on the computer, or is it something you "run" and it is on cruise control for 24-hours?

[Fastbird]

There's some initial setup, but then it's just cruise control. When I was mining with my GPU, I ran that puppy full out for about 3 months. Just have to watch the heat it generates. Overheat and it'll crash. I checked in on it daily just to make sure everything was good, stopped it when I had to as it was my main computer too.

[JCzNova]

There's some initial setup, but then it's just cruise control. When I was mining with my GPU, I ran that puppy full out for about 3 months. Just have to watch the heat it generates. Overheat and it'll crash. I checked in on it daily just to make sure everything was good, stopped it when I had to as it was my main computer too.

So with the post above talking about .14/day how much electricity is a GPU running non-stop going to add to the power bill? Just trying to wrap my head around the idea. Saw an article about a guy throwing a hard drive away that had $9million worth of bitcoin on it.

I guess the hard part to understand is how money is generated for doing nothing. It's not like debugging systems or advertising for people so who just "prints" all this free money?

[harner]

I guess the hard part to understand is how money is generated for doing nothing. It's not like debugging systems or advertising for people so who just "prints" all this free money?

This.

[Fastbird]

It's not profitable for GPU mining anymore. My 7970 was pulling about 300 watts or so full blast. IT was driving my utility bill up about $30-40 a month. Last year, I was making money off of it. There's no way I could do that now. ASICS are power sippers too, thought not nearly at the hash/wattage ratio of a GPU. Look here: https://en.bitcoin.it/wiki/Mining_hardware_comparison