Mining bitcoins directly using GPU hardware is no longer viable because of (expensive and power-hungry) ASIC miners. It is however possible to earn ample amounts of cash by putting your graphics card(s) to work mining.
But what if earning cash is not what you’re looking for? Growing hash rate difficulty and competition from other miners erodes GPU earnings with each passing month by as much as 20-25%. Unless earnings are somehow locked and harnessed to bring future income, achieving ROI is impossible and long-term profitability is negative.
This is a collection of my thoughts and observations pursuing this the elusive answer to the important question, ‘How to earn bitcoins by GPU mining?’
If you want to see how I have done transforming these thoughts into actions, check ‘Earning Reports‘.
Like many thousands of others, I made my entry into the world of cryptocurrencies by renting out my GPU hash power using NiceHash. It is a great service for beginners, because it removes the risk and difficulty of determining which coin to mine and pays out directly in Bitcoins. From a GPU hash power seller… Read More Mining ZEC with NiceHash (notes in progress)
Two days ago somebody hacked NiceHash and robbed them of USD 60+ million worth of bitcoins. The service provided by this company was unique and designed to gently introduce hundreds of thousands of Bitcoin newbies to the world of crypto currencies with minimum risk and effort. To the best of my knowledge, no other mining… Read More NiceHash Alternatives Wanted
Running a Bitcoin Full Node seems an ungrateful job. It doesn’t pay the way mining does but it still incurs expenses. However I have decided to launch my own node for a couple of reasons. Improving the Quality of the Bitcoin Network Without full nodes, bitcoin transactions would be impossible. Bitcoin full nodes validate transactions… Read More Running a Bitcoin Full Node
Update 11 July 2017: Since I initially wrote this article, NiceHash announced a change in withdrawal fees which makes them more favorable. Credit where credit is due. Choosing the right bitcoin wallet for your NiceHash payouts is not a decision to be taken lightly. Depending on how much you can earn per day and what… Read More NiceHash Payouts
I wonder if there is such a thing as a ‘better time of the day’ for bitcoin mining? I’ve noticed on more than a few occasions that NiceHash profitability floats around 1.0-1.1 mBTC during my daytime, and jumps to 1.2 mBTC or more after 2:00am. Worth investigating some more. TotalBuzzKitI am a small business owner… Read More The Better Time of Day for Bitcoin Mining
I am not telling you how to succeed at bitcoin mining; I am asking. In this post I will be talking to myself, trying to come up with an answer. Feel free to join the discussion with a comment below! TotalBuzzKitI am a small business owner from Bulgaria. I have been tinkering with personal computers… Read More How to be successful at bitcoin mining?