GPU Bitcoin Mining on old-ish hardware

[William Muriithi]

> Besides this, I don't think that you actually make a profit running
> anything but mining ASICs or perhaps FPGAs.  And then only if you get
> them cheaper than the market price.
> <https://en.bitcoin.it/wiki/Mining_hardware_comparison>
> --

+1

Its not worth it any more unless you have specialized ASIC that's less than
6 months old.

They have adjusted the algorithm so that you now almost need a something on
top 500 to make anything.  See this link too.

http://www.economist.com/news/leaders/21590901-it-looks-overvalued-even-if-digital-currency-crashes-others-will-follow-bitcoin

Quote:
The system itself is straining at the seams (see Technology Quarterly). The
amount of computing power consumed by its transaction-verification system,
which has the side-effect of “mining” new Bitcoins, is mushrooming: it now
far exceeds that of the world’s 500 fastest supercomputers combined. At the
same time Bitcoin’s method of recording and processing transactions, and
compensating those who verify them, is becoming unwieldy.
End quote:

In my opinion,  bitcoins look like pyramid scheme.  Those who got in early
make a killing out of those who get involved later. Don't think it make
sense to get involved now. Better check the other virtual currencies that
are coming up

William

> The Toronto Linux Users Group.      Meetings: http://gtalug.org/
> TLUG requests: Linux topics, No HTML, wrap text below 80 columns
> How to UNSUBSCRIBE: http://gtalug.org/wiki/Mailing_lists
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://gtalug.org/pipermail/legacy/attachments/20131216/84f8e9f9/attachment.html>