Have you found it yet? Have you found the magic pot full of magic money that you can’t get anywhere except if you build it yourself using your computer?
Have you found your GUIMINER or have you found bitcoin plus?
With bitcoin plus, you log into the website and you just click on “Start Generating” and it starts. You are instantly generating money. tiny minuit fragments of a penny. every hour you get paid 0.00002728 bitcoin. So, what ever the current trade value of a bitcoin is, divide that by 0.00002728 and you will see what the value of an hour is to you. not a whole fricken lot.
So you search for alternatives or someone comes along and tell you how you can get more bitcoins faster, by explaining how it works. Your friend tells you that you can get a program that lets you generate the bitcoins for yourself at a much faster rate. Since bitcoinplus uses Java to run, and we all know how dead goat fast that can be. So it sounds plausible and you are now intrigued.
Your friend tells you the name of a program that you can use to do mining with. For me, it was Guiminer (Graphical user interface miner). With Guiminer you have to get the bitcoin wallet. So you can store your bitcoins in.
So now you installed the wallet and you have the guiminer on your desktop. Now what? You open the guiminer and click on the first thing you see “start mining’ nope, jack squat. So you go to the menu area to try and figure out what in the settings is set at a default what ever. Nope, again, jack squat. So now you Google how to start this stupid thing and you find some post saying ‘ I am new to this so be kind” you are thinking “ding ding found one”. Go in to read it, nope jack squat. First line out of that dudes question is ” ok I am running a Linux network that is coded to BLAH BLAH BLAH” Lost me. you are thinking ” Ok now I just want the dang thing to run once. Three days go by of refining your Google search and finally you get the jest of it. open the mining program tell it to open the wallet as a server (dude I have no idea why) tell the mining program to look locally for a server. now it works, you are cranking about a cool 30 Mhash per second. You leave your machine running all night and wake up like a 7 year old on Christmas morning only to find. Jack Squat. So now you start looking for some math to see if you will make money. Sure you will. In 111478 months. You will make a whole 50 bitcoins.
So now you find that you have to join a gang, or what ever they call them, and have yourself a bitcoin lan party because someone realized that if you run a mining pool, you can mine faster and get more bitcoins. The system is supposed to be more organized that way. But after a few days, you get back to the same spot and see that you just made the guy hosting the pool, quite a bit of money. but you. you are making. Yep you guessed it. Jack squat.
So. Again you hunt for other reasons to hope this thing is useful. You find pictures upon pictures of people who make their own mining pool. Like some guy who has like 20 computers, each computer has 4 video cards on them to help mine faster using each graphics card GPU. and you think to yourself ” well heck yeah, eventually that will start to pay off’ and then you remember that 111478 months thing and try and divide that by each video card you see in the picture and shake your head at the insanity of the whole thing. Or you totally ignore any logic and continue to tell yourself there’s money in it somehow.
Oh, I assume the reason the bitcoin value dropped so much, is the early 6 months it’s value was cranked up stupid high, by the powers that started it, to get more people to help them with what ever in the heck they are doing. not because the stock market crashed. Just simply because no one wants anything to do with it. To much work, to much effort for very little pay out.
I have got to say that bit coin mining is useless.
If you do the math of the money wasted on electricity running what ever material it takes to generate bitcoin, you will be at a loss.
It’s not for broke people, to come into money with. It’s a toy for rich kids. and they validate it with an end result of 5 months later saying “see? I got $20 so it isn’t worthless”.
Don’t fall for that.
in the end you were better off staying on the bitcoin plus website and just letting it run in the background and not cause any trouble on your computer. No you will never get rich with that, but at least it feels like you are doing something with a computer that is already on anyway.
Bitcoin review
2/10
for people with addictive nature.
***update so I don’t seem like a jerk, just explaining logic behind my post***
if the money of pooling is split up amongst everyone, it would seem less profitable for the guy with 900 computers running the app, than the guy with one computer running the app.
one thing I have learned with these android phones, the more stuff you run, the faster your battery dies. This would lead me to believe that the apps are causing usage of electricity.
Means the phone that when all items are stripped and I am running a basic install of android, the battery lasts between 8-14 hours. With all average running apps the battery is between 3-6 hours, depending on what you call average apps.
note the power connector at the back of your video card, it is not there for luck. It is there for a reason. one can assume the electric bill is slightly effected by someone who upgrades to that. Especially if their computer runs all hours of the day and night, with no down time. add an app that runs that card, you can assume (from the android reference) that you will be using more electricity than just having the machine on. Run an app like guiminer, where your card is running at 50% higher temps. Mine got up to just under 180, normal temp is 105. you can surely assume that the ap is using a lot more power, along with the video card it’s self using a lot more power.
Now chunk in a second video card, and run at higher speeds (I Did this, but I didn’t see much performance increase), and re-math your power consumption.
I keep my computer turned off as much as I can.
I keep my electric bill under $50 a month (except last month, Texas weather at 100+ degrees got me to $75ish)
I wouldn’t want to see the slightest increase to my power bill for something so complicated and barely explained. I would not see the profit of it. Especially if you only see less than $100 a month in profits.
Something close to the topic with nearly no actual answer to teh original question. How much electricity am I consuming as I generate bitcoin
