Is anyone Mining for BitCoins ?

[acotut]

Is any BHW Member a Bitcoin miner?I'm thinking to jump into this as soon as possible,but I'd like to see other people insights about this.
From what I saw,a BitCoin is about 13$ today,so with a small 500$ investment,there should be a lot of money to be done while simply "mining".

So what you guys think?

 

[Deleted member 364366]

I tried for a while but found it difficult mining on my own,you can join pools to what together with others and therefore you share the money earned but it's a lot more consistent than doing it individually.
They do now make minings rigs that soley mine for bit coins that look amazing but most are more than the 500$ you said you're willing to invest.
Of course you can treat it like Forex buy bitcoins cheap and when their value goes up trade them! Hope that helps.

 

[acotut]

I tried for a while but found it difficult mining on my own,you can join pools to what together with others and therefore you share the money earned but it's a lot more consistent than doing it individually.
They do now make minings rigs that soley mine for bit coins that look amazing but most are more than the 500$ you said you're willing to invest.
Of course you can treat it like Forex buy bitcoins cheap and when their value goes up trade them! Hope that helps.

You know any legit place where I can buy this mining rigs?

 

[dumdum4gumgum]

Bitcoin is hard to do. I do it with 4 machines with Graphic cards. it takes a lil to get it going.

 

[dog-tag]

Always found the subject fascinating but know nothing on the subject.

Some of the guys in the BHW irc chat do that 24/7

 

[antsaoo]

There should be quite a big thread about mining bitcoins if its not deleted.

 

[phracktl]

Consider this: http://www.btcwallet.org/2012/12/13/2012-2013-bitcoin-price-analysis-end-of-one-year-circle/

 

[Deleted member 364366]

You know any legit place where I can buy this mining rigs?

These are one of the main leaders (http://www.butterflylabs com/) for rigs but you can build them yourself it's alot cheaper! Also I bought a few parts from https://bitcointalk org/ in their marketplace and they were very helpful.

 

[acotut]

These are one of the main leaders (http://www.butterflylabs com/) for rigs but you can build them yourself it's alot cheaper! Also I bought a few parts from https://bitcointalk org/ in their marketplace and they were very helpful.

I saw a verry interesting piece at $150
It's the BitForce Jalapeno,and it haves a power of 4.5GH/s

How much you think I can mine with that stuff?

 

[unbhaxor]

I am pretty interested in Bitcoin mining aswell. If anyone want to discuss strategies add me on skype

 

[Zadoom]

bitcoin mining isnt to great anymore, the blocks in hasing them takes awhile 500$ will get you nowhere in mining. anytime soon at least, the 6900 ATI radeon card pulls 800/mhz is one of the top of the line graphics cards and pulls the fastest.., You would have to join a pool... and go from their at 500$.. I wouldnt expect much though, Bitcoins though is a big market lets say I've generated alot of income.. through that.. not by mining though.

 

[illfounded21]

Always found the subject fascinating but know nothing on the subject.

Some of the guys in the BHW irc chat do that 24/7

Agreed. The concept always intrigues me.

 

[ok888]

I have no clue about this subject



would love to know more

 

[Crazy]

I wouldn't get into Bitcoin mining unless you're ready to dump four figures into an ASIC miner, which are just shipping this past month and are doing 60Gh/sec. They will eventually put GPU & FPGA miners out of business.

 

[cecle]

I wouldn't get into Bitcoin mining unless you're ready to dump four figures into an ASIC miner, which are just shipping this past month and are doing 60Gh/sec. They will eventually put GPU & FPGA miners out of business.

Jesus just checked their site, $29'999 for a rig! Hefty investment. Out of interest how much would that rig be able to process bit coins wise per day?

 

[Crazy]

Which site are you referring to? If ButterflyLabs, I'm not talking about them. Avalon is currently conducting pre-sales for $1500/unit, which is reported to perform at 65GH/s. They've shipped 300 units and will be taking orders for the next batch of 500 units within the next day or so. PM me your Skype if you feel up to chatting about it more.

 

[HelloInsomnia]

Can somebody explain what these miners are and how efficient they are? Are they just an awesome GPU or something? I thought the only way to make any decent money with that was from running a B-net which we can't talk about here (just mentioning it).

 

[Crazy]

In terms of speed an efficiency, it would be ASIC > FPGA > GPU.

ASIC: https://en.wikipedia.org/wiki/Application-specific_integrated_circuit
FPGA: https://en.wikipedia.org/wiki/Field-programmable_gate_array

They also get more expensive but really ASIC will corner the market as it becomes more popular.

In terms of their electrical efficiency, it varies depending on the board/chip/etc. But at the moment all are still "profitable," just with different margins.

 

[moneylover]

I will spend more on the energy for my graphic card then I earn with the bitcoins... that's my calculation.

 

[schapz]

I mined bitcoin in the early days, and kept my btc in my wallet ever since. Probably got a couple of thousand bucks in my wallet now, just sitting there. Will leave them and hope for the price to go up.
This was mined with an aweful GPU though, so I quit quickly when the first big mining rigs came up, as it then barely paid for the electricity. Been thinking about buying a rig and get in to it again. Probably going to wait for the new miners to come out thoug.

For those of you who want to see if you can earn money from bitcoin, you can check your GPU mhas/s at bictoin wikipedia (can't post liks yet), and google "Bitcoin Mining Calculator" to see if you'll be able to make.