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Low End Mining?...

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• sbatz72

  

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  @xsosxhawkens Hi Guys!

  I am new to the cryptocoin market, but am trying to make a bit here or there.

  I have no notions of getting rich quick or really even turning a profit, but would be happy to learn how if any of ya know :P

  But mainly, my focus is simply helping pay for upgrades.

  I am one who has for years run my systems 24/7 in the aspect of distributed computing, with my normal pet project being crunching numbers for SETI.

  Knowing that the costs of power and hardware-wear were about the same for mining as for SETI-crunching I have decided to re-purpose the systems to see if they can pay for or help subsidize the upgrade costs.

  I get some of the basics, mainly that ASIC's have made CPU/GPU mining impossible for SHA-256 and soon even Scrypt. It is for these reasons that I currently mine on the X11 algo. I also get that I have to mine with a pool for decent returns, especially being that I mine with weak hardware.

  So do any of you have advice on, well, anything regarding what I would like to do?..

  My mining HW is: Athlon 64x2 6000+ with HD7870, and an i3 mobile, and a turrion TL-50.

  Not much I'm afraid.

  Currently I am sticking mainly to Karma Coins (KARM) as they have a fast and high return rate and I am hoping to make enough to allow me to trade up on good market days, so far I have a few thousand. But I mine on multipool and switch around allot, though generaly only on coin at a time to focus my resources.

  Between all CPU's and the GPU I am getting around 2M/hs according to the multipool website.

  Anyone have suggestions on coins/algos/markets or ideas to help me get the most out of the limited resources I have?

  (BTW my current goal is simply to make $200 to upgrade the 6000+ to a Phenom II x6, hopefully before Christmas)

  I am looking for low end mining for Sha that will make me a sustainable income. That does not seem to be ggoing to happen anytime soon. I am thinking of saving for a scrypt miner instead.

  Posted on September 2, 2014 at 5:54 PM
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• xSOSxHawkens

  

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  Location: Olympia WA

  @sbatz72

  I am looking for low end mining for Sha that will make me a sustainable income. That does not seem to be ggoing to happen anytime soon. I am thinking of saving for a scrypt miner instead.

  I dont think it is possible any longer to mine profitably on SHA(256) without an ASIC.

  Likewise, Scrypt is nearly the same. Its better than SHA, but there are Scrypt ASIC's hitting the markets that are pushing hash power through the roof. Such high hash power makes GPU/CPU miners obsolete and ineffective.

  X11, and other algorithms are supposed to be ASIC-proof, or as much as they can be. ATM they are much better profitable to mine using a GPU or CPU.

  x11 is allot less heat and energy over Scyrpt too...

  I have not looked at x13, or other algo's yet.

  Posted on September 2, 2014 at 7:04 PM
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• Antares88

  

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  @apple Mine on a profit switching pool that mines the most profitable coin such as multipool. Then you can link the account with cryptsy and set thresholds to auto sell coins on cryptsy once the threshold has been met.

  ok, but what's the daily profit per MH in multipools? If I remember well it's quite low and unsustainable.

  Posted on September 5, 2014 at 3:48 PM
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• xSOSxHawkens

  

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  @antares88

  @apple Mine on a profit switching pool that mines the most profitable coin such as multipool. Then you can link the account with cryptsy and set thresholds to auto sell coins on cryptsy once the threshold has been met.

  ok, but what's the daily profit per MH in multipools? If I remember well it's quite low and unsustainable.

  Yeh, im only averaging 0.0001btc per mghs per day on multipool. Considering I have about 1.8 Mhs im getting maybe 0.0002btc per day, if that...

  Is it more efficient to mine with a dedicated pool?

  Posted on September 5, 2014 at 5:17 PM
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• JayeK

  

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  Location: Canada

  @febo I am mining monero that is cryptonote coin. You can mine it with CPU and GPU. But not sure if you can get 200 USD till christmas. They say is one of best to mine. Also have big trade volume, so easy to sell. And because of anonymity, have niche to stay side by side with btc for long time to come. So i don really plan to sell it til christmas. :P

  Does this coin have a GUI wallet yet?

  Posted on September 5, 2014 at 6:28 PM
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• Antares88

  

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  @xsosxhawkens Yeh, im only averaging 0.0001btc per mghs per day on multipool. Considering I have about 1.8 Mhs im getting maybe 0.0002btc per day, if that...

  that means 0.1 USD/day of revenue with BTC @500$. It doesn't even pay back electricity costs. It's meaningless unless you believe that in 5 years BTC will be worth 20k USD and you want to bet on it.

  Posted on September 5, 2014 at 6:49 PM
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• Apple

  

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  @antares88

  @apple Mine on a profit switching pool that mines the most profitable coin such as multipool. Then you can link the account with cryptsy and set thresholds to auto sell coins on cryptsy once the threshold has been met.

  ok, but what's the daily profit per MH in multipools? If I remember well it's quite low and unsustainable.

  well thats low end mining for you. its like asking for high yield stocks with zero risk, there arent any. At this point no low end mining is going to be profitable unless you happen to mine some coin early that makes it big but no one can predict what thatll be

  Posted on September 5, 2014 at 7:05 PM
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• Apple

  

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  @xsosxhawkens

  @antares88

  @apple Mine on a profit switching pool that mines the most profitable coin such as multipool. Then you can link the account with cryptsy and set thresholds to auto sell coins on cryptsy once the threshold has been met.

  ok, but what's the daily profit per MH in multipools? If I remember well it's quite low and unsustainable.

  Yeh, im only averaging 0.0001btc per mghs per day on multipool. Considering I have about 1.8 Mhs im getting maybe 0.0002btc per day, if that...

  Is it more efficient to mine with a dedicated pool?

  It would all depend what that dedicated pool is mining. I used to just mine on multipool with an app on my smartphone at night lol but stopped because its totally now worth it to have a phone damaged from overheating in exchange for pennies.

  Posted on September 5, 2014 at 7:08 PM
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• belltown

  

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  There are also faucets, just saying ;) Like the one in my signature. It's is very addictive, I can't stop watching my Satoshi's growing

  Posted on September 5, 2014 at 8:55 PM
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• asdolino

  

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  @apple

  @xsosxhawkens

  @antares88

  @apple Mine on a profit switching pool that mines the most profitable coin such as multipool. Then you can link the account with cryptsy and set thresholds to auto sell coins on cryptsy once the threshold has been met.

  ok, but what's the daily profit per MH in multipools? If I remember well it's quite low and unsustainable.

  Yeh, im only averaging 0.0001btc per mghs per day on multipool. Considering I have about 1.8 Mhs im getting maybe 0.0002btc per day, if that...

  Is it more efficient to mine with a dedicated pool?

  It would all depend what that dedicated pool is mining. I used to just mine on multipool with an app on my smartphone at night lol but stopped because its totally now worth it to have a phone damaged from overheating in exchange for pennies.

  Mining with mobile phones is just a waste of time, it's better to mine with a low end pc if you want to see some satoshi in your wallet.

  Posted on September 7, 2014 at 5:21 AM
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