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How To Mine Bitcoins
- DigitalSea 14y agoAs pointed out in the comments on the article, this would have been a handy article to have 3 years ago when it was possible to profitably mine Bitcoins. It has got to the point where the costs of generating a Bitcoin far outweigh the costs of just buying a Bitcoin. Sure you can enter a mining pool and split the profits based on your efforts, but still works out to cost more in energy than what you get in return.
- lowboy 14y agoDepends on how much your energy costs. I generate 2.7Gh/s with 4x7970 GPUs, which costs about $2.40 per 24 hours, and yields ~$35-40 in BTC at the time of writing.
- DigitalSea 14y agoYou make a good point here. The cost of a HD7970 here in Australia is still about $400, so that's a $1600 outlay how long would it take to make back the initial outlay and then you have other factors to take into account like cooling as well and geographical location and price of energy.