Silk Road forums
Discussion => Newbie discussion => Topic started by: xloveralot on February 24, 2013, 06:39 pm
-
So today I've been reading some about mining bit coins.
So far it seems that you need a really good computer. Unfortunately mine is older but it's interesting to read `on.
Anyone here considering mining btc?
-
The days when you could make some decent coin with your core-i7 desktop pc are history. These days to be competitive in the bitcoin mining business, you need a specialized parallel processing machine that was designed to do one thing -- mine bitcoins. The latest generation of equipment is being rolled out now. They are called ASICS mining machines. I think ASIC's is an acronym for Application Specific Integrated Circuits. ASIC's mining machines are useful for only one thing, mining bitcoins. And if you don't have one you don't stand much of a chance of making anything mining when you're up against consortiums who are running dozens of these new machines.
Jack
-
You need a highly efficient machine to mine today.
Even the GPU miners are about to turn into the current CPU miners with the release of all these ASICs.
-
Thanks for your reply. Good info. I can only guess how much one of those new machines roll out for.
My way of thinking was that even if I could get 1 or 2 btc a month by mining in spare time that would be useful for me.
Of course it's all complicated.
-
Avalon ASICs are about $1500 for no less than 65GH/s hashrate.
Butterfly Labs has four products:
BitForce Jalapeno - 4.5GH/s - $149
BitForce Little Single SC - 30GH/s - $649
BitForce Single SC - 60GH/s - $1299
BitForce Mini Rig SC - 1500GH/s - $29899
So as you can see it costs a pretty penny to purchase an ASIC miner (and keep in mind these are early batches if you didn't buy one early it'll be a while before you actually get your miner).
There are a few calculators around that will help you determine how much you could potentially make running at a certain hashrate (including cost of electricity and a lot of other overhead costs), but these aren't accurate because we do not know what the difficulty of the network will do when there are a bunch of ASIC miners start up on the network. It'll become MUCH harder to mine a bitcoin.
-
How many BTC would a top-end ATI gpu pull a month @ 24/7 usage nowadays?
-
https://en.bitcoin.it/wiki/Mining_hardware_comparison
-
It's a competitive, efficient industry these days with high barriers to entry by new players. Profit margins after paying for equipment and electricity costs are relly thin or non-existent even with the latest mining equipment. The gold rush ended a year or more ago., and the corporate titans of industry have moved in, taking all the fun out of it. Time to look for a new vocation. Supermodel maybe?
-
I agree Jack. There's many people out there that have server farms run off of solar power so there is no electricity overhead.
Also you've got all the people with botnets, and the browser based mining systems that run behind webpages.
-
Those guys have sucked all the fun and life out of the industry. Just like the medical marijuana industriial machine is sucking all the fun out of being a grower in California. That why I'm on SR to get some enjoyment out of it again. It's working too. Nice people who appreciate your products vs. shrewd purchasing managers for the big collectives who talk donw your product to get a better price and you leave with money in your pocket but feeling like you've been raped. Now I need another bump of K.
-
Avalon ASICs are about $1500 for no less than 65GH/s hashrate.
Butterfly Labs has four products:
BitForce Jalapeno - 4.5GH/s - $149
BitForce Little Single SC - 30GH/s - $649
BitForce Single SC - 60GH/s - $1299
BitForce Mini Rig SC - 1500GH/s - $29899
So as you can see it costs a pretty penny to purchase an ASIC miner (and keep in mind these are early batches if you didn't buy one early it'll be a while before you actually get your miner).
There are a few calculators around that will help you determine how much you could potentially make running at a certain hashrate (including cost of electricity and a lot of other overhead costs), but these aren't accurate because we do not know what the difficulty of the network will do when there are a bunch of ASIC miners start up on the network. It'll become MUCH harder to mine a bitcoin.
they are totally sold out for a long time :(
ordered one Little Single in December and perhaps I´ll get it end of summer Butterfly told me