Bitcoin Mining

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Found 23rd Jun 2017
Im looking to invest in bitcoin mining, i currently have a i5 4460, 16gb and an rx480 8gb, i was just wondering how many bitcoins do you think i could mine with my current pc specs? Also how long would it take to mine 1bitcoin on average? Electric is free for me as i have solar pannels. Thanks

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28 Comments

what is bitcoin mining?

simon30486 m ago

what is bitcoin mining?



bitcoinmining.com/


way above my head but doesn't sound very secure. people do invest in this, which i understand is virtual investment of some sort.

simon3048

what is bitcoin mining?



​It's a way of keeping graphic card prices up

whattomine.com/
just fill that in. Obviously, for mining bitcoins directly you are about 5+ years too late, but mining alt coins and selling them for BTC might still be worth it. With free electricity you could get around $4.8 per day.

Electricity is only free when the sun is out. Sorry, when there is daylight, before i get corrected.

With that spec, you could probably get 0.0000001 bit coins a day.

You'd make more money using the free electricity to do the laundry or make a cup or tea (not at the same time because it will go over what you're generating and you'll draw power from the grid instead)

a bitcoin is worth about 1,000 dollars so use you head will take years. They have custom machines just to mine them but still takes ages.

Supermod

gdglewis11 m ago

a bitcoin is worth about 1,000 dollars so use you head will take years. …a bitcoin is worth about 1,000 dollars so use you head will take years. They have custom machines just to mine them but still takes ages.



One Bitcoin is currently worth $2,759.36 (£2,123.21)

Already been commented - you are several years out of date. Better to take a risk and look at future coin creations, if you get in early you can ride the first wave. You've missed out getting in on Ethereum, which was around 50 cents a coin back in late 2015, and is now at $325 a coin.

You won't cover the cost of electricity. Guys were buying purposes built machines and using car radiators to cool them and that was several years ago. Chinese servers doing it now. Your wasting your time and money as 7 years to late

Ethereum still growing it's growth in the market has been incredibly quick, still worth investing but personally I'd just stick with gold

How many RX480s do you have?
http://i.imgur.com/nMMFKrm.jpg

its not worth it with a regular pc anymore, a few years ago joining a mining pool would have made you some money but with the systems people dedicate to it now you'll be unbelievably lucky to hit pay outs and in a mining pool you be doing only a small % of the work so you'll only get a tiny portion of the pay out

tempt

How many RX480s do you have?


Caption "What do you mean you forgot the PSU cables !!!"

check out nicehash.com. paid distributed computing. your not mining directly but you do get paid. with your RX480 you could earn approx £30 a month. Running the "miner" 24/7. Nicehash have a calculator to estimate your earnings based on your CPU and/or your GPU.

A lot of people don't know what they are talking about, some people here do.

Mining Ethereum is what you want to be doing, nicehash miner is good to get started as you said electricity is free, leave your computer mining overnight, make a bit of money for steam sales etc.

You won't be making much money as you would be in an irl job with those specs. Its basically a way to get a bit more pocket money.

You could invest buy buying various Crypto Currency but that's a bit more risky and I recommend you do research before buying anything.

Look into the new and up coming crypto coins.
Once they get popular people with custom miners and insane rigs switch over which will kill your profit.
Edited by: "joedastudd" 24th Jun 2017

Original Poster

Rid1

A lot of people don't know what they are talking about, some people here … A lot of people don't know what they are talking about, some people here do.Mining Ethereum is what you want to be doing, nicehash miner is good to get started as you said electricity is free, leave your computer mining overnight, make a bit of money for steam sales etc.You won't be making much money as you would be in an irl job with those specs. Its basically a way to get a bit more pocket money.You could invest buy buying various Crypto Currency but that's a bit more risky and I recommend you do research before buying anything.



What about if i invested maybe £10000 to build a custom miner rig? Do you think that'd be more worth it?

I manage to make £5 a day with my Gtx 1080 with electricity cost a max of 50p

Best of selling your gpu whilst its worth £300+ and then buy the coins and sell once they go up in value

best off getting a job

benjammin316

best off getting a job


OP might just be trying to make an extra bit of money on the side, every little helps

adamskiidu_44

I manage to make £5 a day with my Gtx 1080 with electricity cost a max of … I manage to make £5 a day with my Gtx 1080 with electricity cost a max of 50p


Nvidia cards are bad for mining, not really comparable to AMD cards.

VGamer

What about if i invested maybe £10000 to build a custom miner rig? Do you … What about if i invested maybe £10000 to build a custom miner rig? Do you think that'd be more worth it?


That exceeds my knowledge, I suggest asking on more tech savvy forums, or a forum with more knowledgeable people

Original Poster

Rid1

That exceeds my knowledge, I suggest asking on more tech savvy forums, … That exceeds my knowledge, I suggest asking on more tech savvy forums, or a forum with more knowledgeable people



Ahh alright, thanks for your help anyways!

Original Poster

benjammin316

best off getting a job



Ive got a job :P just looking to make some extra money

Original Poster

Thanks for everyones help, probably gonna sell my card

far too late on this mate, that train has passed

Honestly some of the "information" in this post is so far from true it's not real.

alt-coins are still profitable at the moment but you have just missed a golden period of profitability with ethereum.

It could well happen again with other coins but it may not, so investing a huge amount in hardware at the moment is a big gamble.
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