Bitcoin Mining, How to make money using your GPUs!
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  1. #1
    Big Boss kensai is a name known to all kensai is a name known to all kensai is a name known to all kensai is a name known to all kensai is a name known to all kensai is a name known to all
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    Bitcoin Mining, How to make money using your GPUs!



    I am writing this to inform people about Bitcoin Mining and if it works, taking a clue from a discussion I was recently in, so I decided to post this on TSB also and see if anyone else is doing it or what people think.

    After all, we all are in this in order to make money, so why not discuss alternative ways to do so, as SEO/Xrumer/IM is not the only thing in the world that we can use to make money.

    As one that has been in the bitcoin game for some time now I can tell you that it works.

    Also that is getting increasingly difficulty to get profits, as that is the way the system is designed to work.

    Bitcoin does work and will work for a long time because people use them for transactions on the Silk Road (google for it). Everything else is BS.

    One thing you have to realize is the bitcoin mining difficulty that increases or decreases every 2 weeks depending on how many people are involved in "cracking" bitcoin hashes.

    Since the latest craze where bitcoin value hit 30$ some weeks ago, due to media exposure of Silk Road, the difficulty has gone from roughly 880k to 1350k! All that because a shitload of noobs jumped in without thinking and raised the processing power of the "network" by a huge margin, therefore adding at the same time almost 50% difficulty in mining.

    Now after the latest problems at mtgox.com (biggest exchange of bitcoins) with their hacked DB and devaluation of Bitcoins, a lot of those noobs that jumped in and bought expensive super rigs , are not jumping ship selling their hardware on bitcoin forums.

    It can get you money, the problem is the increasing difficulty and the cost of electricity that the computers use at this point.

    That means that as time passes with the ratio of growth for the network, the only way to make any money would be to have FREE electricity and FREE GPUs as CPUs are worthless.

    Seriously though, the good days are gone and I am thinking of selling my rigs, I also have a lot of hardware in boxes that I have not opened, as spare parts, including VGA, Motherboards, CPus, PSUs etc..so I believe its better to just sell everything now and either invest in BTC or just GTFO and keep the money!

    At my estimations, in 3 to 4 months max it would not be profitable for me to mine anymore, together with almost 99% of the people that have to pay for hardware/electricity and cooling!

    If anyone is interested I can post more info...hell I might even write a guide about how things work and what you need to be careful, put an order on all the above scrambled bits of info (its 6 am here :P), and mostly to warn people that might get lured in without thinking twice, as at first it appears as an easy way to make lots money which will not be the way things progress!

    Honestly I still believe getting into the game now is almost...suicidal with the costs and difficulty (btw in 2012 the bitcoin reward will be automatically HALVED by the system to 25 coins from 50 that it is now, so that means half the money for pool miners) so if the every 2 weeks increasing difficulty does not "kill" you, the halved reward at huge difficulties next year will!

    Google Bitcoin for more info or check the forums at [Only registered and activated users can see links. ]

    [Only registered and activated users can see links. ]

    So...what do you guys think?

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  2. #2
    Veteran cooldude is an unknown quantity at this point
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    i havent read all of this., but i read somewhere , i cant recall it, that you add javascript code to your site and when surfer comes to your site, their cpu/gpu power is used for bitcoin minning and you make money., i have to do some research for this.,


    thanks for this article, i never used it though.


  3. #3
    Big Boss jubei has a spectacular aura about jubei has a spectacular aura about jubei has a spectacular aura about
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    There is a Java plugin that can be used for that, but there is on major problem with it.
    It uses resources on a system that it should not , because I as a user did not give it permission. So its unethical and stupid to begin with, also it uses CPU which is very poor in getting results and the real power is in GPUs.
    So, forget Java for this one...


  4. #4
    Deckhand igl00 is an unknown quantity at this point
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    currently theres a few pools and ways to mine but you should choose them by the speeds so its important to changes placed where you do stuff.
    last days [Only registered and activated users can see links. ] seems to be having good speeds and hash rates


  5. #5
    Big Boss jubei has a spectacular aura about jubei has a spectacular aura about jubei has a spectacular aura about
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    Best pools are the ones with hundreds or thousands of users, you make money much faster as hashes are broken faster.

    Some megapools for those interested are btcguild.com, deepbit.net and other with thousands of miners..

    Check [Only registered and activated users can see links. ] for more info...


  6. #6
    Recruit imsecure is an unknown quantity at this point
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    This is only good if you use WebCL so you can use users' GPU(s), otherwise CPU mining is only viable if you own a botnet (500+ active bots simultaeneously)



 

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