Post
Topic
Board Beginners & Help
Re: noobie requesting help
by
Bizmark13
on 22/06/2015, 07:09:36 UTC
Anyway OP, if you're still interested in mining with your computer then you could try mining altcoins and converting these to bitcoins using an altcoin exchange like Cryptsy. There are many altcoins out there which can still be mined using CPUs or GPUs. The only ones which have ASICs built for them are SHA-256 based coins like Bitcoin and Peercoin, and scrypt-based coins like Litecoin and Dogecoin.

Agree. In most country, the electricity cost will never make you profit mining Bitcoin. However, mining altcoin might give you a little profit. Well, most altcoin difficulty is lower compared to Bitcoin. Also, instead of mining by yourself, joining a pool might speed it up. If you intend to mine Altcoin and join a pool.. Choose a pool which will automatically mine profitable altcoin and exchange it into Bitcoin for you.

It's not because of electricity costs that mining Bitcoin using general purpose hardware is a bad idea. It's because of ASICs. A single ASIC is equivalent to an entire warehouse full of computers. If a coin has ASICs developed for it, then these ASICs are competing with your single computer for the same block reward and because of this, your single computer always inevitably loses. Even tiny SHA-256 coins like Betacoin and Terracoin can't really be mined using CPUs or GPUs anymore in any reasonable sense because the existence of a single ASIC mining on the network is enough to outclass hundreds of CPU and GPU miners.