A money making idea - No good for me but it might warrent some more research for some of you guys... - GoFuckYourself.com

EddyTheDog · 03-29-2013, 06:59 AM

I had a vague idea about setting up some Amazon EC2 high perf servers with GPU processors as bitcoin miners - I did a little research and it is possible but it seems the Amazon ones are pretty crap - Even with the GPUs.

There are other cloud servers available with GPU procs and people looked into it a year or so ago - They did the calculations and it would not have been feasible - You would not have broken even.

However, it was not that far out - Just a few percent.

With the massive jump in value of BCNs it should be pretty profitable by now.

Its to technical and to expensive for me to take the idea any further but could be worth some more research for someone with the resources....

Just remember me if you do become rich

!!

isteve · 03-29-2013, 07:37 AM

Quote:

Originally Posted by EddyTheDog

I had a vague idea about setting up some Amazon EC2 high perf servers with GPU processors as bitcoin miners - I did a little research and it is possible but it seems the Amazon ones are pretty crap - Even with the GPUs.

There are other cloud servers available with GPU procs and people looked into it a year or so ago - They did the calculations and it would not have been feasible - You would not have broken even.

However, it was not that far out - Just a few percent.

With the massive jump in value of BCNs it should be pretty profitable by now.

Its to technical and to expensive for me to take the idea any further but could be worth some more research for someone with the resources....

Just remember me if you do become rich

!!

The difficulty increased in the last few years though. Probably still not profitable.

EddyTheDog · 03-29-2013, 07:50 AM

Quote:

Originally Posted by isteve

The difficulty increased in the last few years though. Probably still not profitable.

That's the variable I was wondering about - The difficulty has not increased at the same pace as the value though....

As I said it would take someone with the tech savvy to crunch the numbers...

woj · 03-29-2013, 07:56 AM

Someone should setup a system like seti@home to mine bitcoins, but with no tech jargon, no convoluted setups, etc, people would just run some software in the background and get a paypal payment every week...

advertise it as "make as much $1000/month", of course that would be only for a computer with eight $3000 graphics cards in it, and electricity bill would be half of that, but surfers would eat that shit right up anyway...

NiXXiN · 03-29-2013, 09:10 AM

i have done this before in the past, i have done the cpu mining method though and not the gpu.

it works well.

MikeRoth · 03-29-2013, 09:19 AM

Pretty sure it would not be profitable. If you look at the difficulty chart here: http://bitcoindifficulty.com/ it shows that in February the difficulty started skyrocketing (this was the time ASIC miners started shipping) an ASIC miner is 300x faster than a GPU. Once more and more ASIC miners are shipped and come online GPU mining will be worthless just as CPU mining was worthless once everyone started GPU mining.

Supz · 03-29-2013, 09:22 AM

Did you hear the joke about the bitcoin?

A bitcoins walks into a bitcoin, one bitcoins says to the other bitcoins. Bitcoin!!!!

ahahahahahha

03-29-2013, 06:59 AM	#1
EddyTheDog Just Doing My Own Thing Industry Role: Join Date: Jan 2011 Location: London, Spain, New Zealand, GFY - Not Croydon... Posts: 25,040	A money making idea - No good for me but it might warrent some more research for some of you guys... I had a vague idea about setting up some Amazon EC2 high perf servers with GPU processors as bitcoin miners - I did a little research and it is possible but it seems the Amazon ones are pretty crap - Even with the GPUs. There are other cloud servers available with GPU procs and people looked into it a year or so ago - They did the calculations and it would not have been feasible - You would not have broken even. However, it was not that far out - Just a few percent. With the massive jump in value of BCNs it should be pretty profitable by now. Its to technical and to expensive for me to take the idea any further but could be worth some more research for someone with the resources.... Just remember me if you do become rich!!

03-29-2013, 07:56 AM	#4
woj <&(©¿©)&> Industry Role: Join Date: Jul 2002 Location: Chicago Posts: 47,882	Someone should setup a system like seti@home to mine bitcoins, but with no tech jargon, no convoluted setups, etc, people would just run some software in the background and get a paypal payment every week... advertise it as "make as much $1000/month", of course that would be only for a computer with eight $3000 graphics cards in it, and electricity bill would be half of that, but surfers would eat that shit right up anyway... __________________ Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000 Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager Last edited by woj; 03-29-2013 at 08:02 AM..

03-29-2013, 09:10 AM	#5
NiXXiN Confirmed User Industry Role: Join Date: Apr 2012 Location: Canada Posts: 470	i have done this before in the past, i have done the cpu mining method though and not the gpu. it works well. __________________ _______________________________________________ Onliance Resident Ginger \| RBC Member \| AppDev. Irc.Rizon.net #GFY

03-29-2013, 09:19 AM	#6
MikeRoth Confirmed User Industry Role: Join Date: Jan 2011 Location: Washington DC Posts: 361	Pretty sure it would not be profitable. If you look at the difficulty chart here: http://bitcoindifficulty.com/ it shows that in February the difficulty started skyrocketing (this was the time ASIC miners started shipping) an ASIC miner is 300x faster than a GPU. Once more and more ASIC miners are shipped and come online GPU mining will be worthless just as CPU mining was worthless once everyone started GPU mining. __________________ ICQ: 64995031

03-29-2013, 09:22 AM	#7
Supz Arthur Flegenheimer Industry Role: Join Date: Jul 2006 Location: New York City Posts: 11,056	Did you hear the joke about the bitcoin? A bitcoins walks into a bitcoin, one bitcoins says to the other bitcoins. Bitcoin!!!! ahahahahahha