Is Bitcoin profitable with a 500$ GPU or not?

[TheJitFace 699 / 18,162]

Is Bitcoin profitable with a 500$ GPU or not? 

1 Bitcoin equals

4096.00 US Dollar

Do research tho

[Astro 451 / 10,622]

I use robux when cryptomining, it's worth 12 tix each so it's working well for me

[im not inactive you are 888 / 16,340]

29 minutes ago, Astro said:

I use robux when cryptomining, it's worth 12 tix each so it's working well for me

 

Dude i still get on RuneScape and use GP as my crypto-currency, it is so much safer.

[rapperdan 2,323 / 0]

I told you this already @TheJitFace if you plan on using GPU's to mine btc you are retarded and paying so much in power that you will be losing money also you will ruin your GPU... and if you really want to mine, mine ETH ffs because you will lose a lot more money trying to mine btc. also don't bring up that guy named beast you know or what ever because if he is making profit mining with "GPU"s he is not mining btc or he is using someone elses power and profiting off someone elses payments to pay for power or he is mining ETH. another possibility is that he is mining bitcoin cash and not bitcoin. long story short the hashing rate you are trying to compete with while using GPU's will always beat you to the problem you are trying to solve every time and your rate you use to solve the algorithm with GPU's simply can't compete, you will see btc yields but very minor yields that simply don't compete to the rest of the world doing a shit ton more of the work to solve the algorithm that is trying to be solved at the time.

 

 

TL:DR GPU hash rates are shit.

Edited August 20, 2017 by rapperdan

[Joshy 4,364 / 44,927]

14 hours ago, rapperdan said:

I told you this already @TheJitFace if you plan on using GPU's to mine btc you are retarded

 

No need to be rude about it.  This isn't a terrible question.  Sure: It's a terrible question if you look at it from a single and most direct approach in this case.

 

Radios have a similar problem, and so if you cannot find any literature on this for bitcoins and GPUs, then I recommend exploring textbooks on Power Amplifiers (PA), Low Noise Amplifiers (LNA), Microwave, RF and mm-wave Technology, Antenna Systems Engineering, or Wireless Communication Architecture.  I only recommend these books because the strategies are well established and I don't know if they have "good" books on bitcoins; I also recommend this because someone was telling me all about this stuff and they brought up how they "might" use this for bitcoin mining too.

 

These are just some slides I found on the internet and the information on these slides can be found in textbooks (the person kindly cited their source).  I'm hoping below is a reasonable enough walk-through to inspire some investigation.

 

 

What is "Power Efficiency?"  It's always some relationship between the amount of power used to supply the system versus the output power.  An example of a system with low power efficiency is a system that can produce 10 W of output power at the cost of 300 W; conversely: A system with good power efficiency may produce less output power of 5 W, but only at a mere cost of 1 W.  Anyone who has taken a physics class will tell me its impossible citing their conservation rules, but they've only been looking at linear systems.  Older textbooks talk about power efficiency and typically use the Greek letter, η, but I have noticed more modern textbooks use Power Added Efficiency (PAE) if you happen to stumble across this.  You can see in the image above that these amplifiers have a trade-off between efficiency and the output power.  There is almost no efficiency on one of the spectrum although it has output power, and on the other side is really good efficiency with almost no output power.  Clearly, there exists a "sweet spot" in the center where there is decent enough efficiency and still some output power.

 

A strategy to achieve this sweet spot is using a non-linear system such as Class C amplifiers rather than the Class A, B, or AB amplifiers.   Older systems will literally bias or supply the amplifiers in such a way they are not completely conductive 100% of the time, and therefore making it a Class C amplifier.  This doesn't like an option for a GPU because IC design is expensive, but the concepts can still work.  Some people will buy these integrated circuit chips that have fully conductive amplifiers built in (Class A amplifiers), but they want it to act like a Class C amplifier to improve their power efficiency, and so they find ways to literally turn off the amplifiers during its operation.  For example: This front-end module chip by Skyworks.

 

 

What they'll do is use the "bypass" pin to bypass these amplifiers.  In the transmit section you'll see it skip over the Power Amplifier (PA), and in the receive section you'll see it skip over the Low Noise Amplifier (LNA).  These two amplifiers are super power hungry, but sometimes you don't need them to be on.  If you have it continuously running, then the power efficiency drops; if you have them running too little, then you might not get enough output power to send a signal to the other antenna or to recover the signal from the transmitting antenna.

 

Much like these systems...  you could be seeking a sweet spot for bitcoin mining.  If your system is continuously consuming power, then it's going to cost you more to mine than what you can recover, but do you really need it to be continuously running to be effective?  It's something to ponder on and it might require a little bit of statistics to find the most effective configuration  .  I don't have any experience with bitcoins, but this is what the person told me about their system and how they use it for their interest in bitcoin mining.  I thought it was clever.

 

Good luck!  If it doesn't work out for you in bitcoin mining, then maybe you can use the concepts or skills for a more promising career.  I'm not smart and I don't know anything about these things...  I'm just sharing what I was told and the pictures I could find online.

[denros 776 / 0]

Any low scale mining is unprofitable for you but that doesn't mean you can't make money. Say you buy a decent setup e.g. a vega gpu. I reckon you could easy make your money back in 12-18 months. Dan is right mining bitcoin using gpu or any other method is not profitable for low scale consumers. 

 

Why not consider Dogecoins or Litecoins, currencies which can still be mined easily and are just in the trending stages so it is easily grasped. You never know , save a few Dogecoins and it could be worth thousands come next year or it couldn't. 

[TheJitFace 699 / 18,162]

On 8/20/2017 at 4:28 PM, denros said:

Any low scale mining is unprofitable for you but that doesn't mean you can't make money. Say you buy a decent setup e.g. a vega gpu. I reckon you could easy make your money back in 12-18 months. Dan is right mining bitcoin using gpu or any other method is not profitable for low scale consumers. 

 

Why not consider Dogecoins or Litecoins, currencies which can still be mined easily and are just in the trending stages so it is easily grasped. You never know , save a few Dogecoins and it could be worth thousands come next year or it couldn't. 

Only thing with Dogecoins and Litecoins is that it won't be profitable for a very long while because Bitcoin managed to get to the top. It won't be too profitable YET because irl there are bitcoin atms, you can buy games from steam with it. Many things can be done with bitcoin. Denros is right because if Dogecoins or Litecoins start being more recognized, early miners will make lots of money. 

[Katernum 6 / 2,251]

In all honesty, GPUs probably won't be the best investment for Bitcoin. You'll make your money back (eventually), but a lot of people are moving over to mine for altcoins that they can get a quick profit on (look at Monero and Etherium). Bitcoin is a good investment, but I wouldn't say the best.