Bitcoin?
- Thread starter Z3nTuRu$
- Start date
- Status
![[kS]LEO](/data/avatars/s/0/9.jpg?1497554055){kind=avatar}
i dont know about bitcoins but we had an app earlier for bitcoin mining "kSminer" i think,
anyway @Madvillain can help you here more
anyway @Madvillain can help you here more
I have done a lot of research on that; it is not profitable to conduct Bitcoin Mining as a hobby.
1. Bitcoin Mining is very expensive:
- A lot of computational power is required
--> high electricity consumption
2. Very low profit (if any):
- You would never mine enough Bitcoins. A powerful gaming computer won't mine more than 0.01 BTC a week, so it would take ages to get 1 BTC.
--> By the time you have earned one Bitcoin, you would have lost a lot of money because of electricity!
Nowadays, you would have to invest Millions in special Bitcoin Miners (ASCII-Miners) in order to get good profit out of it. In China there are Bitcoin Farms, which are basically factories with thousands of Bitcoin Miners. Additionally, there are low electricity costs there (compared to Europe). However, I have seen calculations which show that even if they got electricity for free, it would not be benefical.
If you want to pursue cryptocurrency-mining, take a look at alternatives like Ethereum, Litecoin, Peercoin, etc. Some are still profitable to some extend, even for hobby mining.
1. Bitcoin Mining is very expensive:
- A lot of computational power is required
--> high electricity consumption
2. Very low profit (if any):
- You would never mine enough Bitcoins. A powerful gaming computer won't mine more than 0.01 BTC a week, so it would take ages to get 1 BTC.
--> By the time you have earned one Bitcoin, you would have lost a lot of money because of electricity!
Nowadays, you would have to invest Millions in special Bitcoin Miners (ASCII-Miners) in order to get good profit out of it. In China there are Bitcoin Farms, which are basically factories with thousands of Bitcoin Miners. Additionally, there are low electricity costs there (compared to Europe). However, I have seen calculations which show that even if they got electricity for free, it would not be benefical.
If you want to pursue cryptocurrency-mining, take a look at alternatives like Ethereum, Litecoin, Peercoin, etc. Some are still profitable to some extend, even for hobby mining.
Thanks @WatchMiltan , i have already started mining and in a month i've made about 40 dollars, but the thing is we live on a military base so i do not pay electricity (we live for free) So to me every penny is profit, but i'm still looking for the perfect program to get the most profitability for my AMD card.
Thanks for the help so far!
No problemThanks @WatchMiltan , i have already started mining and in a month i've made about 40 dollars, but the thing is we live on a military base so i do not pay electricity (we live for free) So to me every penny is profit, but i'm still looking for the perfect program to get the most profitability for my AMD card.
But I would like to encourage you to do your research on Ethereum! I think you can make much more profit out of that at the moment. Compared to Bitcoin, Ethereum is much easier to mine, hence you can get 40 dollars more quickly using ethereum mining.
Reaaly?? Where do i start? Do you have tips for me as they say you are the masterNo problem
Assuming that you have a decent PC:Reaaly?? Where do i start? Do you have tips for me as they say you are the master
https://www.cryptocompare.com/mining/guides/how-to-mine-ethereum/
I don't know if that is mentioned on that website but you also need an Ethereum Wallet (similar like Bitcoin Wallet
)
Thanks @WatchMiltan i am syncing my blockchain now, will notify you of my progression as i proceedAssuming that you have a decent PC:
https://www.cryptocompare.com/mining/guides/how-to-mine-ethereum/
I don't know if that is mentioned on that website but you also need an Ethereum Wallet (similar like Bitcoin Wallet
Thank youThanks @WatchMiltan i am syncing my blockchain now, will notify you of my progression as i proceed
Never been into mining, fuc k that sh*t, but I did do transactions with bitcoins and have had atleast $200 or more in my BTC wallet iirc.
- Status