Close

Results 1 to 14 of 14

Thread: Bitcoin mining

  1. #1
    DF Rookie JakeB00456's Avatar
    Join Date
    Apr 2015
    Location
    rochdale
    Posts
    4
    Thanks
    0
    Thanked:        0
    Karma Level
    0

    Default Bitcoin mining

    Hey i am new to this(bitcoin mining) and i am currently confused on how to get started with the mining program so i am asking for some links and help on how to get this started because i have tried with MineGW and can't get it working correctly so i am wondering if there is an easier way or if someone can help me with setting it up thanks!

    I have set up a wallet and currently looking for a suitable mining pool

  2. #2
    DF VIP Member Over Carl's Avatar
    Join Date
    Apr 2006
    Location
    London
    Posts
    13,125
    Thanks
    3,975
    Thanked:        1,690
    Karma Level
    1251

    Default Re: Bitcoin mining

    It's probably not worth mining Bitcoin anymore unless you have specialised and dedicated hardware along with free electricity.

    Probably better off looking at something newer as the rewards for miners diminish over time.

  3. #3
    DF Rookie JakeB00456's Avatar
    Join Date
    Apr 2015
    Location
    rochdale
    Posts
    4
    Thanks
    0
    Thanked:        0
    Karma Level
    0

    Default Re: Bitcoin mining

    i have the hardware to do so, it's just i am struggling with the soft ware

  4. #4
    DF Rookie jdfrt's Avatar
    Join Date
    May 2006
    Location
    manchester
    Posts
    8
    Thanks
    0
    Thanked:        0
    Karma Level
    0

    Default Re: Bitcoin mining

    so if you got the hardware etc, is it worth it?

  5. #5
    DF Rookie JakeB00456's Avatar
    Join Date
    Apr 2015
    Location
    rochdale
    Posts
    4
    Thanks
    0
    Thanked:        0
    Karma Level
    0

    Default Re: Bitcoin mining

    one bitcoin is worth £168+

  6. #6
    DF Super Moderator
    evilsatan's Avatar
    Join Date
    Jul 2004
    Location
    Essex
    Posts
    20,079
    Thanks
    1,105
    Thanked:        3,241
    Karma Level
    1541

    Default Re: Bitcoin mining

    Have you calculated the electricity required to mine a bitcoin and then the return on investment of the hardware? I was under the impression that very few setups will profit on Bitcoin and most of those that do make little profit as the problem to be solved is so long now. I suppose new tech can make it profitable again.

    I would be tempted to take a gamble on the next big cryptocurrency, I haven't looked into it but I've heard of litecoin.

    Its an interesting subject so would be cool to hear what setup you have

    Thanks to evilsatan

    Over Carl (15th April 2015)  


  7. #7
    DF Moderator EvilBoB's Avatar
    Join Date
    Jan 2001
    Location
    Bedfordshire
    Posts
    6,353
    Thanks
    583
    Thanked:        620
    Karma Level
    606

    Default Re: Bitcoin mining

    It's not really worth mining BTC. I have four USB miners and mine at around 3ghash. Been running it over a year and probably made about £20. It seems the best option at the moment is to mine the alt-coins - in particular SCRYPT coins instead of the SHA256 ones. Then trade them for BTC on Cryptsy. Of course not all alt coins make it but even running a few hours when a new coin comes out you could end up with a substantial amount of them which after a month or so may be worth money on the market.
    DF Moderator
    XBox One | Panasonic 4k | MS Surface Pro 3 | 3DSXL | WiiU | RPi3
    XBL : TheSumOfAllEvil

    Thanks to EvilBoB

    Over Carl (15th April 2015)  


  8. #8
    DF Rookie JakeB00456's Avatar
    Join Date
    Apr 2015
    Location
    rochdale
    Posts
    4
    Thanks
    0
    Thanked:        0
    Karma Level
    0

    Default Re: Bitcoin mining

    EvilBoB, quick question have you joined a mining pool?
    if not i recommend so because it actually speed up the proccess

  9. #9
    DF VIP Member
    Mobileman's Avatar
    Join Date
    Mar 2001
    Location
    No.1 The Toon
    Posts
    6,435
    Thanks
    1,624
    Thanked:        1,045
    Karma Level
    732

    Default Re: Bitcoin mining

    Quote Originally Posted by JakeB00456 View Post
    one bitcoin is worth £168+
    so how much power (electricty) does it cost to mine one bitcoin ? whats the life span of the pc using to mine and what did that cost and then add that to the cost per coin and let me know

  10. #10
    DF Moderator EvilBoB's Avatar
    Join Date
    Jan 2001
    Location
    Bedfordshire
    Posts
    6,353
    Thanks
    583
    Thanked:        620
    Karma Level
    606

    Default Re: Bitcoin mining

    Quote Originally Posted by JakeB00456 View Post
    EvilBoB, quick question have you joined a mining pool?
    if not i recommend so because it actually speed up the proccess
    It's the only way you can really mine unless you have a few grands worth of mining kit. Still not making much but it's fun to do.
    DF Moderator
    XBox One | Panasonic 4k | MS Surface Pro 3 | 3DSXL | WiiU | RPi3
    XBL : TheSumOfAllEvil

  11. #11
    DF VIP Member
    beerman's Avatar
    Join Date
    May 2001
    Location
    29 Acacia Road
    Posts
    8,446
    Thanks
    1,080
    Thanked:        1,626
    Karma Level
    956

    Default Re: Bitcoin mining

    These guys make some money but then they spend $80,000 on electric each month

    Thanks to beerman

    WRATH OF BOD (15th April 2015)  


  12. #12
    DF VIP Member
    bbshark's Avatar
    Join Date
    Jul 2001
    Location
    shh im hiding
    Posts
    3,911
    Thanks
    288
    Thanked:        301
    Karma Level
    555

    Default Re: Bitcoin mining

    How long you going to stay here once you have the info you need? 4 posts and they are all leeching information.

    Should be reading the rules that you received in your welcome message.
    bbshark. The Member with the first ever DF Fine

    http://digital-forums.com/showthread.php?t=451657

  13. #13
    DF VIP Member WRATH OF BOD's Avatar
    Join Date
    Jul 2004
    Location
    Monkey Hangers
    Posts
    6,611
    Thanks
    2,585
    Thanked:        1,229
    Karma Level
    790

    Default Re: Bitcoin mining

    Quote Originally Posted by beerman View Post
    These guys make some money but then they spend $80,000 on electric each month

    wow, outlay aprox $150000 a month & pull in about 1.5 mill, i wonder how much it all cost to set up..

  14. #14
    DF VIP Member
    ant3b's Avatar
    Join Date
    Apr 2004
    Location
    United Kingdom
    Posts
    8,127
    Thanks
    593
    Thanked:        165
    Karma Level
    622

    Default Re: Bitcoin mining

    thats a big operation... only going to get harder to mine coins though.

Similar Threads

  1. EUA - Eurasia Mining
    By hxbro in forum Financial Advice & Info
    Replies: 1
    Last Post: 30th June 2011, 10:08 AM
  2. CHL - Churchill Mining Ltd
    By gunner in forum Financial Advice & Info
    Replies: 8
    Last Post: 2nd November 2009, 03:20 PM
  3. China mining toll 'below 100,000'
    By 4me2 in forum News & Current Affairs
    Replies: 0
    Last Post: 28th January 2009, 12:02 PM
  4. Welsh Mining
    By Tommy J in forum The Comedy Club
    Replies: 10
    Last Post: 14th March 2008, 10:59 PM
  5. Small mining village shame bradford
    By urbsy in forum General Sports
    Replies: 5
    Last Post: 23rd June 2006, 03:07 PM

Social Networking Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •