Tuesday, 10 December 2013

BitCoin Mining Day 1

Well I decided to get into bitcoin mining today. I remember a couple years ago working at walmart, some kid talking about this internet currency known as bitcoin and you could make money off running certain hardware. Well... 2 years later I'm finally getting into running that hardware. My build is going to be known as "Lucey" which is feminine for Lucifer. I'm currently using the BitMinter.com pool and their graphical interface. Currently I'm only mining off my GPU, which is nVidia so it sucks. I guess you could call this "Lucey v0.04". My GPU is a GeForce GT 630 and is only doing about 11.4 Mhps. Not having to worry about a power bill since utilities are included, I'll be making $1.54 Canadian per year. Yep, not much but it's a start for v0.04. Today Lucey's mining balance is 0.00000072 bitcoins (about $0.0007315) and 0.00000162 namecoins.

I was looking on Amazon.ca and I found a few usb asic miners for about $50 each. I'm going to order 3 of them, a usb 3.0 7 port bay, and a usb fan to cool the miners. This will all cost me about $300. With the usb asics, I'll be mining at about 1.0 Ghps which will hopefully make me about $135 a year. So with the current set up it will take me about 2.2 years to pay off the hardware. I'll be ordering this on the 19th.

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