What's new
  • Please do not post any links until you have 3 posts as they will automatically be rejected to prevent SPAM. Many words are also blocked due to being used in SPAM Messages. Thanks!

Bitcoin mining, how do I?

coriolis

Well-known member
Joined
Jul 14, 2009
Messages
102
I'm on zpool and Awesome Miner, the first few hours was awesome and smooth but zpools been crashing, offline and the last 20 hrs of work has literally been lost.


I think one of the great things about NiceHash was that it had a buyer/seller marketplace that helped support the profits, so everyone using NH would be guaranteed some profit when hashing, even during the bad times. On zpool, it seems that even if we hash at full speed, majority of it is wasted, especially in the last 24 hrs. I'll leave it on for the week and decide at the end whether or not its worth it.
 

geokilla

Well-known member
Joined
Aug 11, 2008
Messages
3,808
Location
Toronto
Anyone else feel the original point of BTC has been lost? Now it feels like everyone is trying to make a quick buck. Yeah I'm one of them too but I don't plan on trading it. It would be nice if one day in the future, we get to use cryptocurrency for its original intended purpose.
 

AkG

Well-known member
Joined
Oct 24, 2007
Messages
5,270
Anyone else feel the original point of BTC has been lost? Now it feels like everyone is trying to make a quick buck. Yeah I'm one of them too but I don't plan on trading it. It would be nice if one day in the future, we get to use cryptocurrency for its original intended purpose.

Well... people kinda are. BTC is now the 'currency' you use when mining alt coins. That was its goal. Make a crypto currency that could be trusted... and its not like many actually MINE BTC anymore!

Think of it as the stock market (back in the day). You find products (mine them) then sell them using an agreed upon std unit of currency. Just with fewer scumbag middlemen. :thumb:

One of these days I may dip my feet into it.... but not now. No parts = no fun. :(
 

The Great Gazoo

Well-known member
Joined
Dec 14, 2014
Messages
193
Location
BC Lower Mainland
Anyone else feel the original point of BTC has been lost? Now it feels like everyone is trying to make a quick buck. Yeah I'm one of them too but I don't plan on trading it. It would be nice if one day in the future, we get to use cryptocurrency for its original intended purpose.

Absolutely correct! The adoption rate of actually being able to use bitcoins to buy anything has been so slow though. It's become a sort of trading currency to use on the currency exchanges for the most part which was not the initial intention.

My understanding is that the pressure on the escalating prices have mostly come from China where people and businesses are using it to get money out of the country. China has strong protectionist measures to keep wealth in the country and enterprising folks work on underground ways to get it out even if it is risky.
 

upcoast604

Well-known member
Joined
Oct 3, 2008
Messages
864
Location
Sunshine coast, BC
Totally not my experience... gave up after an hour of futile trouble shooting.

I just didn't understand the whole awesome miner thing I might try again later some day (quit smoking 3wks ago, so don't need aggravation), Minergate v.7.1 is working for me but there's still confusion on it but it's up and mining.

Looking at the alternatives now it looks like Nicehash was a masterpiece compared to what's out there.
 

belgolas

Well-known member
Joined
May 9, 2007
Messages
4,354
Location
St. Thomas, Ontario
So I left my computer on mining for 14 hours using awesome miner. It was Hash Refinery and so far I haven't gotten paid yet. So I am trying out Zpool as they say they pay every 2 hours.

I also tried mining with my 8700k and it said only a $0.04 a day revenue so that obviously is not worth it.
 

The Great Gazoo

Well-known member
Joined
Dec 14, 2014
Messages
193
Location
BC Lower Mainland
I also tried mining with my 8700k and it said only a $0.04 a day revenue so that obviously is not worth it.

LOL, I guess my 4790K would be like $0.02 per day then. :haha:

So I guess this run-up of Bitcoin means that video card prices will go through the roof again and stock will dry up? Buy now if you need one....
 

LarkStarr

Well-known member
Joined
Oct 4, 2007
Messages
1,625
LOL, I guess my 4790K would be like $0.02 per day then. :haha:

So I guess this run-up of Bitcoin means that video card prices will go through the roof again and stock will dry up? Buy now if you need one....

Will?

Where have you been the last year or two? :p They're already through the roof.. if you can even find them in stock! (Looking at you AMD!)
 

coriolis

Well-known member
Joined
Jul 14, 2009
Messages
102
So I left my computer on mining for 14 hours using awesome miner. It was Hash Refinery and so far I haven't gotten paid yet. So I am trying out Zpool as they say they pay every 2 hours.

I also tried mining with my 8700k and it said only a $0.04 a day revenue so that obviously is not worth it.

For zpool, you need to reach 0.01 BTC(currently $185 CDN) for payout for it to payout every 2 hours. Otherwise, its every Sunday for balances over 0.0025 BTC (currently $46 CDN). While I like it better then Nicehash which was minimum 0.01 BTC for external wallets, the amount of small payment fees really add up.
 

belgolas

Well-known member
Joined
May 9, 2007
Messages
4,354
Location
St. Thomas, Ontario
For zpool, you need to reach 0.01 BTC(currently $185 CDN) for payout for it to payout every 2 hours. Otherwise, its every Sunday for balances over 0.0025 BTC (currently $46 CDN). While I like it better then Nicehash which was minimum 0.01 BTC for external wallets, the amount of small payment fees really add up.

Oh so is it really worth it on my personal rig that I won't be mining on every hour?
 

Latest posts

Top