Silk Road forums

Discussion => Off topic => Topic started by: daghost510 on September 27, 2012, 01:42 am

Title: Has anyone heard of Pool Mining?
Post by: daghost510 on September 27, 2012, 01:42 am
I read a forum about bit coins and how they can be farmed on a large scale but due to the difficulty you need lots of people working together to decrypt bit coins and the amount is shared among everyone. It's called "Pool Mining" Has anyone heard of this and can verify the truth behind this? If this works any tips on how to do it?
Title: Re: Has anyone heard of Pool Mining?
Post by: johnmtl on September 27, 2012, 02:40 am
I read a forum about bit coins and how they can be farmed on a large scale but due to the difficulty you need lots of people working together to decrypt bit coins and the amount is shared among everyone. It's called "Pool Mining" Has anyone heard of this and can verify the truth behind this? If this works any tips on how to do it?

My comments are based on what I've read, not any personal experience. That said, mining pools do exist.  However, the work factor has now become so large for bitcoin mining that it is literally out of reach of the individual computer user.  In order to mine coins effectively, you require expensive hardware like an FPGA mining rig.  Bitcoin mining by individuals was possible in the very early days, but this is no longer the case, at least with the stock computer hardware that most people have.

Guru

I have not done much reading about mining as of yet besides for some stuff about how its costs an arm and a leg and I should not even waist my time looking into it... Silly me..

For real tho, Lets say you had some cash to invest...

assume for a minute that I have a location to have all the computers running

I can hire people if needed and already have 25 regular computers on site..

how much would it need to start mining coins 10k 50k 100k??

 :o
Title: Re: Has anyone heard of Pool Mining?
Post by: Caparino on September 27, 2012, 04:02 am
25 regular computers get you about .04-.05 btc everyday. Without rigs, you wouldn't even be breaking even from the electricity costs
Title: Re: Has anyone heard of Pool Mining?
Post by: ilikebread on September 27, 2012, 04:24 am
25 regular computers get you about .04-.05 btc everyday. Without rigs, you wouldn't even be breaking even from the electricity costs

I don't know about that, I mine in a pool with my regular computer and make just under 0.1 per day currently.
Title: Re: Has anyone heard of Pool Mining?
Post by: Caparino on September 27, 2012, 04:36 am
25 regular computers get you about .04-.05 btc everyday. Without rigs, you wouldn't even be breaking even from the electricity costs

I don't know about that, I mine in a pool with my regular computer and make just under 0.1 per day currently.

Either I was part of a shitty pool or your computer is better than mine. About 6 months ago, I made just about .002 btc per day :-\
Title: Re: Has anyone heard of Pool Mining?
Post by: daghost510 on October 04, 2012, 08:25 pm
So It's definitely possible with the right equipment right? What is this "Rig setup" Is that like a specific type of hardware modification you need to do? Even making .1 BTC a day is great for me because I am living in a college dorm and electricity is free. Depending on costs I can get a computer with the right specs to mining I just can't do it big since I would only be using one computer.