Bitcoin - Just read about it - Love any Advise.

[alexsalter3d]

So apart from the below I'm also after your opinion on Bitcoin.

Here is my rig.

i7-3770K @ 3.8GHz (Ivybridge) - Alpenfohn K2 - Gigabyte Z77X-UP4 - 16Gb DDR3 - GTX 670 - 2x 128Gb Samsung SSD - 1Tb HDD - Corsair HX 850W ATX - NZXT Switch 810 Big Tower Case - White

I have limited cash - so hoping I can achieve something with what I have. Please advise me on what you thinks possible! You've all helped me out greatly so far - You were the ones who helped me build my rig! I know I can trust in your advise. - So I'm not only looking for good advise / but also - What I can achieve with what I have / Can extra power thats been mentioned below be worth my effort? Thanks

I may soon have the option of adding to my rig more GPU power - feel free to advise me on what that should be - In relation to what I have - Since it all have to be compatible and work together.

All I know so far of which I may be able to add to said rig would be -

another GTX670

or some sort of many - FPGA cards - some how fixed in there and all working. Maybe cheaper? who knows, im just after extra power if possible for obvious Bitcoin reasons.

Thank you for reading.

Edit ---- So After reading this --- http://bitcoinminer.com/post/20028732430/gpu-mining-dead I am unsure what hardware to invest in lol. Any help will be great things. Also do you think that the GTX's can handle mining in general?

 

[JonJ678]

That link is a really convincing argument to sell off dedicated hardware asap. It's difficult to work out why you think it is encouraging you to "invest" in more hardware. You're probably better off trying to mine a few coins with the card you already own.

 

[alexsalter3d]

I have also just come across this

- https://products.butterflylabs.com/30gh-bitcoin-miner.html

Which are pre designed and made Miners

But... if you look and I think I am right, For example the 60gh one costs a bit right.

But the power of my GPU they say from the graph would bring in 112 + GH which I already own..

So even looking at that product, investing for just 30 more GH maybe not worth it.

I would like to try out my rig mining yeah.

Just worries when they say, GPU mining be dead within 6 months? :L

 

[Kotu]

If you want to gpu mine bitcoins then you need an AMD card, it uses compute rather than CUDA so a similar powered nvidia card is 5-6 times slower than the AMD equivalent while drawing more power to do so, also CPUs are 100x slower than GPUs so absolutely not worth using those

that article is quite old and although the difficulty for mining has gone up since then, the value has rocketed from ~$10/coin to $90/coin.

Using a calculator shows that a GTX670 would make about $20 a month if left running at 100% usage for a whole month, I can guarantee that this is a loss if you pay for your electric.

An AMD 7950 would make about $100 a month at current trading price.

 

[mjones1]

It's not even worth mining unless you aren't paying for power.

 

[InfiniteNoise]

Mined for bitcoins a bit a year ago and I can tell you it's not worth it unless the electricity is free but the heat was quite nice during winter.

With the current value of bitcoins, it's probably worth it if you can make more than you pay for the electricity, bitcoin's value is rising, it was $70 last week, now it's around $90, at this rate it'll reach $100 in the next few days but there's a point where it will crash.

 

[alexsalter3d]

Hmmmm

Im not paying for electricity, Im in uni Accommodation.

In around 2 months though, or 2.5 I'll be going back home. But even then I wont be paying for it I guess.

How much does it increase electricity bills? As I wouldn't want to cost my parents that much of an Increase.

And then the only thing I have to then ask is...

I need to change GPU then....

I did a lot of research into picking my GPU and I picked the GTX670 Windforce model. Which I highly like.... I am very skeptical about switching. So around that price range,

Can you recommend some models that are around that price range which are either the same or better than my current GPU?

And whats also vital obviously... is if that GPU --- Fits my MOBO being - Gigabyte Z77X-UP4

Thank you all for your advise!

Not only this.... But this would mean I would been to sell my GPU... which would be a ball ache...

I will be getting like 350 pound spare in a few months, probably in the summer. So that could help out as well.

Its annoyed me how GTX are failing me in this department compared to AMD...

I could probably be able to switch to two strong AMD's if you all think its okay - and only if my MOBO can take it..... hopefully someone can advise if it can.

 

[tom_e]

Let's face it you're going to be ploughing a lot of money into this weather it's in new hardware or in power it's going to be a waste of money as they can't continue to raise in value at the rate they are now without a serious crash.

 

[alexsalter3d]

I'm not interested in the fact that there may be many crashes in the future.

Your comment offered me nothing.

I've already explained the items and costs that I'm thinking about and dealing with. And the advise I am looking for in relation to my current hardware and compatibility if I so choose to make a GPU switch.

Hopefully my MOBO can handle duel AMD GPUS.

Thank you for your useful comment.

 

[tom_e]

I'm not interested in the fact that there may be many crashes in the future.

You're not interested in the future value of something you're going to end up investing a fair bit of time and money in?

Thank you for your useful comment.

No worries.

 

[Kotu]

even with the amd gpus, the cost of electricity will be almost the same as the money made from bitcoin, i guess thats ok at uni, but I wouldn't use it at your parents house

 

[Clav]

I'm not interested in the fact that there may be many crashes in the future.

Your comment offered me nothing.

I've already explained the items and costs that I'm thinking about and dealing with. And the advise I am looking for in relation to my current hardware and compatibility if I so choose to make a GPU switch.

Hopefully my MOBO can handle duel AMD GPUS.

Thank you for your useful comment.

You may not find it a useful comment but he is right, it is genuinely a waste of time.

With the specialist asic mining devices starting to become popular it will become nigh on impossible to earn anything with a single GPU driven system.

Check it out

 

[tom_e]

It was only this morning I read something about mining switching away from pc based systems in part due to the huge amount of bot nets used just to mine bitcoins.

 

[Kotu]

The only people gaining from botnet miners is the energy companies Those 100,000 infected pcs will just be doing cpu mining on low end cpus, they really won't be contributing much at all.

 

[PapaLazaru]

My advise is don't waste your time, money and effort.

 

[alexsalter3d]

Not the overall response I was aiming for - So I shall re aim.

By looking at this link - https://en.bitcoin.it/wiki/Mining_hardware_comparison

Do you think that if I buy and install...... 2 AMD 7950

Therefore running both by next week -

Would this be a waste of time?

I don't pay for electricity and don't intend to for a few years.


---- I trust your advise Papa. - And I will probably follow what you say.

I am just researching to see what could be plausible and possible for fun. Since making 1 dollar for free I like the sound of achieving

if u get what I mean

So when looking at how much I shall be gaining from two 7950's from that link.

My methodology would then render me with positive results... no?

 

[Kotu]

well some points:

- crossfire is not always great for gaming, you mind need to spend a fair bit of time messing around with radeonpro settings to get almost everything running smoothly
- 2 7950s should do around 1ghash/s, at the current exchange rate this would provide about £60 a month, but only if they are running the whole month, ie all night as well (not good if pc is in same room you sleep in)
- would cost ~£50 in electric, so would be pretty nasty to use at parents house, you might as well steal £50 from them each month you are home.
- you don't just run a simple program and make money, you will need to find a bitcoin pool to join and learn how to configure a client which works ok for you, it might take a few days to get it all working if you have the patience, bear in mind most people are moving away from GPU mining so you are unlikely to get much support if you have difficulties getting the mining programs to work.

 

[Bumhug]

To add to Kotus points

At the moment you are looking at "making" £60 a month if you aren't paying for electric but this is if your PC is mining 24/7. Any gaming, web browsing, uni work on it reduces this amount.

As for making money for free, you are spending £500 minimum on GPU's, if your PC is on 100% of the time, and you are in a bitcoin pool 100% of the time its still just over 8 months before you are making any money. And thats at current exchange rates, given the move away from GPU based mining in 6 months time you will not be making £60 a month its almost 100% certain you will be making less.

Honestly you would have better chance of making money by spending £500 on scratch cards.

If you do still want to go ahead and do it despite everyone here saying dont then your best bet is to spend the money on a new PC with a single 7950 which you could easily put together for the price of two 7950's. That way you can keep the PC mining 100% of the time, if you find its working then add more power to it, if not then sell the PC and make some money back

 

[Kotu]

he already has the pc though, the gpu costs would partially be covered by selling the nvidia card.

If he doesn't mind the fact that crossfire isn't perfect, then i would say its worth doing while at uni (free electric), but its not worth doing at home where his parents would be paying for it instead.

 

[Hagar]

money for nothing and the chicks are free?

Get a ******* job.