Mining Bitcoin during the Day

[Jesse]

Wish I'd mined bitcoin back in 09 on all those daytime idle servers...

 

Anyone want to start a commission modeled mining pool site?

[LCCEnterprise]

Would like more details!

[Raizio]

I doubt servers would actually generate a high hashrate, would need GPU's for that at the least.

[icekohl]

If you have the GPUs and are paying flat rate for power it might be worth doing if you can take advantage of scaling. Even then the margin may be to low to justify. If you have metered power, forget about it.

[Jesse]

I was running some of the top end CPUs on the market at the time. I remember downloading the software and thinking it would see the same fate as other attempts like eGold and LibertyCoin... FBI seizure.

 

Little did I know only mining it for only an hour across a network of 30 machines would have returned millions of dollars.

50 Reward per block, difficulty 1

http://www.bitcoinx.com/profit/

https://en.bitcoin.it/wiki/Mining_hardware_comparison

 

Day trading it is fun, anyone else make 10% on litecoin today? 100% on Auroracoin if you're into the scamcoins. The last bubble was great, the next one come June (ish) should be even more exciting.

[Raizio]

Without GPUs you'd still get hardly anything on just CPUs these days.

[Jesse]

Without GPUs you'd still get hardly anything on just CPUs these days.

Well, yes.

 

-----------------------------------

 

Has anyone looked at open (empty) cages where you could deploy traditional mobo with up to 5x PCI slots? CPUs on the machines would run the game servers and the GPU slots would run the mining. People are typically seeing a return on their GPU rigs within 3-5 months. I have been trading the coins for a much quicker return, personally.

 

Although bitcoin is being dominated by ASIC chips, there is huge community support behind alternative cryptocoins that are ASIC resistant (namely the sCrypt algorithm and "Proof of Work/ Proof of Stake" coins) which in turn leaves tons of opportunity with GPU mining for the foreseeable future. Why? Because keeping the system decentralized is one the main goals behind this technology as outlined by its creator (https://bitcoin.org/bitcoin.pdf). A lot of these new coins are seeing up to 500% returns for people who mine the coins at inception and these returns will only increase as the value of bitcoin rebounds for the 4th bubble. Here are some interesting pictures if you are interested to see how mass adoption is being implemented (to invoke the 4th bubble this summer). One notable fact from the past month is Bitcoin passing Western Union in daily transactions (based on $USD amount).

 

[icekohl]

I have a couple of 'cages' from http://openrigs.com