Does anyone still mine Bitcoins with their GPU?

Gigastrength
Gigastrength

Does anyone still mine Bitcoins with their GPU?

Evilember
Evilember

Yes, but these are idiots who rather burn their GPU for a bitcoin in 10,000 years.

They only bring down the pool.

SniperWish
SniperWish

But is it viable? Imagine I didn't have to pay for electricity, what sort of GPU would I need?

BunnyJinx
BunnyJinx

I'm curious also.

Bidwell
Bidwell

Even a Quadro P6000 in quad SLI would be nowhere near fast enough, the hash rate for bitcoin currently is ~4,000,000 TH/s or 4 quadrillion calculations every second. The TFLOPS, or trillions of calculations per second is 12 in 64 bit mode, and it still is not very fast for mining.

SniperWish
SniperWish

Samefag should have just asked if he was retarded.

GoogleCat
GoogleCat

this, you fags are all too late for the game, as always.

Illusionz
Illusionz

So how are any new bitcoins being created if the calculation requirements are so ridiculously insane now?

And if the answer is that they aren't really being created in significant numbers, how does the currency have any future?

5mileys
5mileys

ASICS, and cloud mining. It does have a future in the sense that it can not inflate.
Big Chinese corps mine a large majority of the coins nowadays on more powerful and dedicated hardware than you can afford.

SniperWish
SniperWish

How the hell can you mine bitcoins with your shoes?

StrangeWizard
StrangeWizard

step 1 : move to venezuela where electric energy is free.

step 2: pay the gommie police to not confiscate your shit.

step 3 : free bitcoins.

step4 : Profit beyound mesure.

Nude_Bikergirl
Nude_Bikergirl

I thought people here said cloud mining was a meme?

Harmless_Venom
Harmless_Venom

those are people who arent speaking from personal experience. they've just heard about scams.

genesis mining is the best company. they are legit. based out of hong kong but they are the largest electricity user in Iceland.

Boy_vs_Girl
Boy_vs_Girl

It's called a pool where miners share their hash power to find coins faster. No one should call it cloud mining, that term doesn't exist.

viagrandad
viagrandad

So cloud mining, with Genesis say for example, is worth investing in?

w8t4u
w8t4u

yeah, i guess. they have different options. you can mine a whole bunch of different coins.

it's a fun investment to do. and instead of just buying whatever cryptocurrency you are helping to secure the network by increasing the hash rate. also you don't have to worry about your house catching fire from mining at home.

hairygrape
hairygrape

Wouldn't you have to wait like, an entire year to get a return on your investment?

SomethingNew
SomethingNew

What?
Yeah, personal cloud mining, but not for big companies with new ASICS.

Bidwell
Bidwell

Depends on the hashrate of the coin and how powerful the hardware used is. A GT8800 is obviously way worse than a GTX 1080 in terms of pure hashing power.

whereismyname
whereismyname

pleb here who has some money to gamble with.

How hard is it to create a bitcoin wallet and buy one coin?

PS yes I know it's simple for you, but put yourself in the shoes of someone who doesn't know all the vocalubary and who's not fond of connecting his bank account with the web on some page.

Spazyfool
Spazyfool

step 1: Design an asic that does nothing but calculating sha1 and permutating the nonce (easy to do with electronics 101 and maybe an advance dcourse)
step 2: Have it build by a fab pool in Malaysia
step 3: Make pcb by random fab pool in your home country
step 4: Get rich off suckers who try competing with the Chinese in their basement

PurpleCharger
PurpleCharger

how does the currency have any future?

It doesn't.

But theoretically you can just keep dividing bitcoins into infinitely smaller pieces, I think.

FastChef
FastChef

coinbase
bring id

hairygrape
hairygrape

i mine with bitcoin because it's the only way i can get any

help out this poorfag :(
1KGoGFSrhQEaJWzrC9zFdYBDQPBjCHNdm3

Methnerd
Methnerd

i mined bitcoin with my laptops cpu nigg.
yes i'm that old.

Firespawn
Firespawn

i got a better one for you:
1: make a website a real cool and sufficiently professional looking awe aspiring website about a super-asic
2: accept limited preorders these babies supposedly leave everything present in the dirt so they are kinda expensive but with preorder much cheaper
3: "develop" it for years have various issues with contractors and devs
4: never deliver anything just run off with the money (preferably get paid in bitcoins)