Keep in mind, that's probably grounds for termination...TheCatt wrote:Thus the reason for using someone else's electricityGORDON wrote:I read a long time ago that there is a trade-off between how much you can mine vs. how much it costs you in electricity. This was long before bitcoins were worth 1k.
Cryptocurrency
"Be bold, and mighty forces will come to your aid."
Yes. Generally, you join a pool, since the odds of you finding an actual chain/block/whatever is exceptionally low. You then get shares of what the pool find based on how much work your machines contributed.Paul wrote:How do those devices work?TheCatt wrote:I was thinking of buying one and plugging it into a work computer to see what would happen...
I understand that they site there and crunch numbers all day, but I assume you have to link them to some account somehow?
It's not me, it's someone else.
Think of it like a lottery. Mining on your own has a very tiny chance of getting a block, but you get the full $25,000 worth of coins yourself. Join a pool with thousands of people and your odds go way up but the payout goes way down.
There are many pools and multiple payout methods. Some will pay out a steady - but low - rate regardless of how the pool is doing (Pay Per Share). Some you get a slightly bigger share in exchange for only getting paid when the pool gets a hit (Proportional).
For small amounts of mining I recommend finding a pool with both options and go Proportional. For the pool I'm in at least I tend to get about 10% more that way than PPS. But I've only tested with a slow rig, so other options may be better if you throw more processing power at it.
I just bought a SheevaPlug off eBay for cheap that I'm going to make into a little dedicated linux mining box.
Edited By TPRJones on 1386204357
There are many pools and multiple payout methods. Some will pay out a steady - but low - rate regardless of how the pool is doing (Pay Per Share). Some you get a slightly bigger share in exchange for only getting paid when the pool gets a hit (Proportional).
For small amounts of mining I recommend finding a pool with both options and go Proportional. For the pool I'm in at least I tend to get about 10% more that way than PPS. But I've only tested with a slow rig, so other options may be better if you throw more processing power at it.
I just bought a SheevaPlug off eBay for cheap that I'm going to make into a little dedicated linux mining box.
Edited By TPRJones on 1386204357
"ATTENTION: Customers browsing porn must hold magazines with both hands at all times!"
Mining litecoins seems simpler, since there's no megahardware for mining them that i know of yet. running my laptop and my server i've made 0.0027 in about an hour i think. Of course, they are only worth $40 each, so the scale is different. I'll check the payouts tomorrow.
Only downside of the pool I joined is a minimum of 5 LTC to withdraw. That could take months.
Edited By TheCatt on 1386212907
Only downside of the pool I joined is a minimum of 5 LTC to withdraw. That could take months.
Edited By TheCatt on 1386212907
It's not me, it's someone else.
Your best best would be Litecoin mining, I would think. CPUs tend to fair quite poorly for bitcoin mining, based on my limited experience and googling.
One of my CPUs (last-gen Intel, not Haswell) generates 10 Khash/s per physical core. So with 3 cores, I get 30 Khash/s. Using GPU miniing, I get 160Khash/s, which works out to about 0.08 LTC per day, based on the past 6 hours. At $32/LTC (current price), that's $2.56/day. So, if I were CPU mining instead, it'd be about $0.60/day of LTC.
$0.20/day of LTC per CPU core at $32/LTC. The amount of LTC will go down with time as the algorithm gets harder, like BTC does, iirc. But it could be offset by a rise in prices. Or, not.
I was able to setup my mining in about 15 minutes or so. I can publish instructions that I'm using tomorrow if interested.
One of my CPUs (last-gen Intel, not Haswell) generates 10 Khash/s per physical core. So with 3 cores, I get 30 Khash/s. Using GPU miniing, I get 160Khash/s, which works out to about 0.08 LTC per day, based on the past 6 hours. At $32/LTC (current price), that's $2.56/day. So, if I were CPU mining instead, it'd be about $0.60/day of LTC.
$0.20/day of LTC per CPU core at $32/LTC. The amount of LTC will go down with time as the algorithm gets harder, like BTC does, iirc. But it could be offset by a rise in prices. Or, not.
I was able to setup my mining in about 15 minutes or so. I can publish instructions that I'm using tomorrow if interested.
It's not me, it's someone else.
I just read this: http://www.cryptobadger.com/build-your-own-litecoin-mining-rig/
It talks about investing $1,500 into building a mining machine.
And yeah, he says the video cards are hard to find.
In the notes he says the best way to sell LTC is to convert them to BTC, and says to stay away from PayPal because 30-60% of sales there are charged back, and PayPal usually sides with the buyer.
It talks about investing $1,500 into building a mining machine.
And yeah, he says the video cards are hard to find.
In the notes he says the best way to sell LTC is to convert them to BTC, and says to stay away from PayPal because 30-60% of sales there are charged back, and PayPal usually sides with the buyer.
Yeah, I got a note from PayPal that they don't allow BTC/LTC sales, so my little scheme ended pretty quick.
Most of those chargebacks are due to fraud (stolen accounts), which is why I was doing the physical verification. But either way, doesn't matter now.
Yeah, all good videocards are sold out across all major websites. All gone.
Most of those chargebacks are due to fraud (stolen accounts), which is why I was doing the physical verification. But either way, doesn't matter now.
Yeah, all good videocards are sold out across all major websites. All gone.
It's not me, it's someone else.
Running an old GPU at work, my laptop, and my home server (AMD 7770), my pool estimates my daily income at 0.082 LTC. At current prices that's $2.87/day. If I could figure out how to get the CPU miners to work, I could experiment with my workstation cluster to see if it could help.
It's not me, it's someone else.
Just realized my bitcoin miner (guiminer), which had been disappearing every time I switched networks on my laptop was actually still running, and had spawned 12 processes, and was killing my mining. Rebooted, and started up the LTC mining, and it does 130kH/s on my lappy, versus the 30 it was doing yesterday.
It's not me, it's someone else.