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Windows 7: Show Us Your Rig [6]

25 Jan 2014   #1551
linnemeyerhere

Microsoft Community Contributor Award Recipient

Windows 7 Ultimate 64
 
 

Or one could say an effort into the future? Don't discount the power of the coin it's just the cost of energy outweights the average Joe from making a real go of this unless the parents don't question the sharp rise in the electric bill? lol
Quote   Quote: Originally Posted by Britton30 View Post
Ah, OK, I found this link in Wikipedia that makes more sense to me.
ELI5: bitcoin mining (xpost in ELI5) : Bitcoin
Also I think can be called "Exercise in Futility".



My System SpecsSystem Spec
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25 Jan 2014   #1552
Britton30
Microsoft MVP

Windows 7 Ultimate X64 SP1
 
 

Sorry to pull more OT, how much is a bitcoin worth, the value of the bytes it's printed on? $0.000000000000001
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25 Jan 2014   #1553
Contrabardus

Windows 7 Home premium
 
 

Quote   Quote: Originally Posted by Britton30 View Post
Sorry to pull more OT, how much is a bitcoin worth, the value of the bytes it's printed on? $0.000000000000001
One bitcoin is worth around $833 US currently. Prices rise and fall just like any other market though.

You get them in blocks of 50 if solo mining, but one block of fifty can take years to mine for someone doing it on their own. Sometimes they can be found sooner and a person might get two or three in a year and then not see any more for a couple of years or longer. Some people might spend five years mining and get nothing.

So that's $41650 for potentially 2-3 years of work and huge electric bills. Somewhere around $13,000 a year before expenses.

You can join pools and split the take while getting more frequent payouts. You're still going to be running your cards really hard, payouts tend to come in percentages of bitcoins, still take long periods of time to mine, generating a lot of heat, and end up with huge power bills even doing things that way though.

I have heard there is often a profit in mining by pooling. Not a huge one, but it does work out to a net gain a lot of the time. Breaking even is pretty common with this method as well. Losing money isn't common, but it does happen.

Still, your PC isn't going to be useful for much of anything else while mining, you've got to do it for long periods of time, it takes several hours to set up, and requires constant monitoring. Bitcoin mining is pretty much a full time job.

You can also just buy them, and as I understand it that's the smartest way to get into them right now as the price has been steadily climbing recently. It'll probably take a while to pan out if you do, but a lot of analysts are calling it a relatively low risk investment with promising potential returns and a good chance to break even at worst.

The whole thing could collapse and you could end up losing money of course, but the same can be said of any investment market. I wouldn't recommend unloading a huge percentage of your funds into it, but it's a good way to diversify an investment portfolio.
My System SpecsSystem Spec
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25 Jan 2014   #1554
N00berG00ber

Windows 10 Pro
 
 

Quote   Quote: Originally Posted by Contrabardus View Post
Quote   Quote: Originally Posted by Britton30 View Post
Sorry to pull more OT, how much is a bitcoin worth, the value of the bytes it's printed on? $0.000000000000001
One bitcoin is worth around $833 US currently. Prices rise and fall just like any other market though.

You get them in blocks of 50 if solo mining, but one block of fifty can take years to mine for someone doing it on their own. Sometimes they can be found sooner and a person might get two or three in a year and then not see any more for a couple of years or longer. Some people might spend five years mining and get nothing.

So that's $41650 for potentially 2-3 years of work and huge electric bills. Somewhere around $13,000 a year before expenses.

You can join pools and split the take while getting more frequent payouts. You're still going to be running your cards really hard, payouts tend to come in percentages of bitcoins, still take long periods of time to mine, generating a lot of heat, and end up with huge power bills even doing things that way though.

I have heard there is often a profit in mining by pooling. Not a huge one, but it does work out to a net gain a lot of the time. Breaking even is pretty common with this method as well. Losing money isn't common, but it does happen.

Still, your PC isn't going to be useful for much of anything else while mining, you've got to do it for long periods of time, it takes several hours to set up, and requires constant monitoring. Bitcoin mining is pretty much a full time job.

You can also just buy them, and as I understand it that's the smartest way to get into them right now as the price has been steadily climbing recently. It'll probably take a while to pan out if you do, but a lot of analysts are calling it a relatively low risk investment with promising potential returns and a good chance to break even at worst.

The whole thing could collapse and you could end up losing money of course, but the same can be said of any investment market. I wouldn't recommend unloading a huge percentage of your funds into it, but it's a good way to diversify an investment portfolio.

there is also litecoin mining which is easier then bitcoin
My System SpecsSystem Spec
25 Jan 2014   #1555
Indianatone

Windows 7 x64 Ultimate and numerous virtual machines
 
 

Just wanted to say all you guys and gals have great rigs and give ideas and help to everyone else. It is not a case of keeping up with the Joneses but some of these rigs have had a bunch of expensive parts fitted and no end of labour spent getting it all right and just as it should be. Good job everyone. It is also inspiring but having recently spent $1500 on upgrades for 2 of my PC's and the wife's computer rebuild I am done for now. Keep up the good work. I really like this forum, no one runs anyone else's rig down saying you have an AMD or Intel or NVidia etc and mine is faster than your rig. Seven forums is a good place to be. Once again thank you everyone. Tony.
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25 Jan 2014   #1556
Britton30
Microsoft MVP

Windows 7 Ultimate X64 SP1
 
 

We are glad to have you here to Tony, thanks for the kind words. Those attributes is what kept me hangin' on.
Only $1500 to upgrade 3 machines, that's good economics mate.
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25 Jan 2014   #1557
linnemeyerhere

Microsoft Community Contributor Award Recipient

Windows 7 Ultimate 64
 
 

Likewise Tony we're just here for the beer.......oh I mean the learning and pictures.
My System SpecsSystem Spec
25 Jan 2014   #1558
sygnus21

Windows 10 Pro
 
 

Quote   Quote: Originally Posted by Indianatone View Post
no one runs anyone else's rig down saying you have an AMD or Intel or NVidia etc and mine is faster than your rig. Seven forums is a good place to be. Once again thank you everyone. Tony.
Nah man, this is about showing off your rig, work, and art, not necessarily the financial or performance factor.

Whether it's top of the line or budget, if it looks great, we appreciate it.

And yes, trying to keep up with the Joneses will break you
My System SpecsSystem Spec
26 Jan 2014   #1559
essenbe

Windows 7 Enterprise X64/Windows 10 Enterprise X64/Windows 10 Pro X64/Linux Mint
 
 

Personally, I don't believe it is possible to 'keep up with the Jonses'. I don't care how much you spend on a computer, whether it is $1500 or $15,000, I will promise you, there is someone with a better, faster, nicer looking computer than you have. So, the real thing here is about the illness. Most of us have a severe case of a terminal illness which I know of no cure for. It's a compulsion to keep buying parts so you don't go into DT's or having convulsions. It is also highly contagious for those of you who don't have the illness but hang around us that do. Ask Juan. He was not very long ago, perfectly normal until he started hanging out with us. Within a few short months, he was starting a business of building some extremely expensive and fantastic looking computers. I'm sure he would tell you, he couldn't stop if he wanted to. But,in all fairness, we warned him before he started hanging out with us.
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26 Jan 2014   #1560
ganjiry

Win7 Home Premium x64 SP1
 
 

Quote   Quote: Originally Posted by essenbe View Post
Personally, I don't believe it is possible to 'keep up with the Jonses'. I don't care how much you spend on a computer, whether it is $1500 or $15,000, I will promise you, there is someone with a better, faster, nicer looking computer than you have. So, the real thing here is about the illness. Most of us have a severe case of a terminal illness which I know of no cure for. It's a compulsion to keep buying parts so you don't go into DT's or having convulsions. It is also highly contagious for those of you who don't have the illness but hang around us that do. Ask Juan. He was not very long ago, perfectly normal until he started hanging out with us. Within a few short months, he was starting a business of building some extremely expensive and fantastic looking computers. I'm sure he would tell you, he couldn't stop if he wanted to. But,in all fairness, we warned him before he started hanging out with us.
It's a very slippery slope once you start but if you have an itch it must be scratched
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