Been thinking about using my computer to mine for bitcoins, it has very high specs and is only used for Reason usually.
Anyone have any advice, or thoughts from experience?
Cheers!
Bitcoin mining
- FlowerSoldier
- Posts: 470
- Joined: 03 Jun 2016
Hmmmm.....
From what I understand, there are Warehouses in China that mine, and you'd be competing with them.
Not sure how long it takes to get a hash these days, but I've heard it's not cost effective unless you have some pretty beefy GPUs and cheap power.
CPUs aren't so useful for mining...you need that fancy NVIDIA shit to get anything meaningful crunched. Probably a few of them.
You might want to mine Monero instead. That's just, like, my opinion though.
From what I understand, there are Warehouses in China that mine, and you'd be competing with them.
Not sure how long it takes to get a hash these days, but I've heard it's not cost effective unless you have some pretty beefy GPUs and cheap power.
CPUs aren't so useful for mining...you need that fancy NVIDIA shit to get anything meaningful crunched. Probably a few of them.
You might want to mine Monero instead. That's just, like, my opinion though.
- CaliforniaBurrito
- Posts: 574
- Joined: 11 Nov 2015
- Location: San Diego, CA
- Contact:
I was wondering when somebody was gonna start a thread about BTC.
Nope forget about it.
Nope forget about it.
You can put your computer in a process called 'pooling' where it teams up with other computers to find the solutions, and when it does you receive the monetary percentage of what your computer contributed to the task. I'm too curious so I'm just going to try it out after new years.FlowerSoldier wrote: ↑22 Dec 2017Hmmmm.....
From what I understand, there are Warehouses in China that mine, and you'd be competing with them.
Not sure how long it takes to get a hash these days, but I've heard it's not cost effective unless you have some pretty beefy GPUs and cheap power.
CPUs aren't so useful for mining...you need that fancy NVIDIA shit to get anything meaningful crunched. Probably a few of them.
You might want to mine Monero instead. That's just, like, my opinion though.
You need an Antminer S9 to make it worthwhile, but they are expensive and have a couple of months delivery time.
If you want to "invest" in bitcoin, best to just stick the 3 grand straight in via bitbargain.
I personally won't touch it, i remember when it first came out around 2007, i looked at the source code and how it worked and i said to myself you would have to be mad to waste your time on this.
But now worldwide bitcoin power consumption has exceeded what Ireland uses.
Sorry to say, but i think this will not end nicely for everyone.
If you want to "invest" in bitcoin, best to just stick the 3 grand straight in via bitbargain.
I personally won't touch it, i remember when it first came out around 2007, i looked at the source code and how it worked and i said to myself you would have to be mad to waste your time on this.
But now worldwide bitcoin power consumption has exceeded what Ireland uses.
Sorry to say, but i think this will not end nicely for everyone.
I watched a show on Netflix last night about bitcoins. I take away that our inherent lack of trust makes our current accounting system profitable for the middleman.
But I cannot get my head around blockchain. WTF?
But I cannot get my head around blockchain. WTF?
- pushedbutton
- Posts: 1541
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- Location: Lancashire, UK
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It would be more cost effective to just buy them at this point. the power you would use, let alone the wear and tear on your rig, would vastly outweigh any bitcoins you're likely to generate through mining.
@pushedbutton on twitter, add me, send me a message, but don't try to sell me stuff cos I'm skint.
Using Reason since version 3 and still never finished a song.
Using Reason since version 3 and still never finished a song.
- Marco Raaphorst
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- Joined: 22 Jan 2015
- Location: The Hague, The Netherlands
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Think about the power it takes. Weird thing about the bitcoin is that it is bad for the environment.
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