Bitcoin Mining 101

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Carlidan

Yeah I kinda of hate miners too. Wanted to upgrade my gfx card to r290 pro but it aint worth at this moment. :(

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vrmlbasic

same here.

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AFDozerman

I've been mining altcoins for awhile, now, and I can say that it's definitely the way to go. Catch the new emerging copycat coins, pump 'n dump, bail when difficulty gets too high, repeat. Much more profitable than straight BTC mining. The only currently emerging altcoin that I imagine (I say currently because litecoin and friends are already established) is Doge because of the community.

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SAND_CREATURE

Mining bitcoin is old news at this point, mining difficulty is insane. You'd be much better off mining dogecoin these days. Difficulty is still relatively low (read: profitable) and the community is great.

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Business Direct

This article is a year too late. To make a decent amount at the moment you will need an ASIC that can crank out 1 TH/s. By April even a machine that can handle 2 TH/s will barely break even over 6 months. With GPU mining of Bitcoins you will spend more on electricity.

That said there are other SHA-256 coins that you can mine with your Bitcoin hardware. You will just have to hope they end up being worth something.

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beatyas

Bingo...

You beat me to it.
MPC's articles are not always as up-to-date as they need to be for what they are trying to discuss. This is one.

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The Mac

ummm..you realize this is from the October 2013 print issue, right?

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Hey.That_Dude

Then that makes it about 6-7 months too late. What's your point?

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The Mac

Since the October issue is mailed in Aug/Sep, and it takes a month to put it together, id guess this was written in July, so only a month or two from that all important "Year too late"

My point was its a reprint, its not supposed to be current.

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Hey.That_Dude

For this article to be worth something to us, It would have needed to been released in April 2013... plus your few months to put it together which puts them starting on it sometime around October 2012. So about 8-9 months off.

Also the point still remains that this article didn't need reprinting.

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Carlidan

"Also the point still remains that this article didn't need reprinting."

That's your opinion. Since I haven't subscribe to the magazine lately. I found it very informative.

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Carlidan

"Also the point still remains that this article didn't need reprinting."

That's your opinion. Since I haven't subscribe to the magazine lately. I found it very informative.

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PCWolf

GUIminer link is dead... dead like one of Dr Leonard McCoy's Patients. And the other GUI Miner there made my Malwarebytes scream DANGER DANGER!! TROJAN!!

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don2041

Beware! The claim jumpers are working on ways to steal your mines.

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JosephColt

Those who got into bitcoin mining early on are lucky. I think short term this will make people a lot of money, but long run may end up stabilizing in prices, and becoming to hard to mine for normal people.

We all need these babies: http://www.butterflylabs.com/monarch/

600 GH/s -.-

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yu119995

No, you need to do some more research and focus on Alt Coins. You can thank me later.

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Peanut Fox

If the hardware was that effective at making money I'd think they'd just build their own custom stuff and mine their own coins.

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yu119995

Who's they?

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JosephColt

I was actually thinking the same thing.