Sorry for being late to the altcoins party. I'll admit i know nothing

thegatesoftomorrowthegatesoftomorrow Member Posts: 3
I am facing a strange conundrum. I'm being exposed to new information at a colossal rate and my my mind is struggling to keep up

I absolutely LOVE the idea of decentralization. being a student of economics, i've often wondered about alternatives to money as we have known it for a while. I'm almost ashamed i didn't know about this at all

even if this doesn't catch on, this idea of ethereum and bitcoin will unite many thinkers of the future to come up with something that does succeed in replacing conventional economic tools

_____

NOW i'm not sure if "mining" still works. but i have around 25 pcs and 1 mac at my disposal - some of them with good GPUs and some without. is there any way i can employ all of them together to mine for ethereum?

it would be a productive use of these otherwise misused resources and any information for newbies like myself would be very appreciated

thank you

Comments

  • un4givenun4given Member Posts: 172 ✭✭
    edited August 2016
    you are way tooooooo late for the party....like 5 years late and almost 1 year late for ethereum party

    there are 3 ways for you:

    1.) forget everything you heard about altcoins to further maintain good sleeping conditions at night and omit new grey hear on your head
    2.) invest into altcoins via trading platforms and keep trading till you reach your goal or just buy and HOLD your coins till whatever point in the history
    3.) having 25 pc's with each 1 GPU wont get you to the sweet spot. that's not how mining works. don't forget about electricity. its far too complicated to start now...would have been easier if you had some good hardware knowledge
  • thegatesoftomorrowthegatesoftomorrow Member Posts: 3
    un4given said:

    you are way tooooooo late for the party....like 5 years late and almost 1 year late for ethereum party

    there are 3 ways for you:

    1.) forget everything you heard about altcoins to further maintain good sleeping conditions at night and omit new grey hear on your head
    2.) invest into altcoins via trading platforms and keep trading till you reach your goal or just buy and HOLD your coins till whatever point in the history
    3.) having 25 pc's with each 1 GPU wont get you to the sweet spot. that's not how mining works. don't forget about electricity. its far too complicated to start now...would have been easier if you had some good hardware knowledge

    i know! like i said...almost ashamed!

    don't get me wrong, i'll be investing into altcoins after doing my research, even at a loss if i have to. that's because the notion in itself is so new that i can't help but explore it albeit at my own steady pace

    as for electricity - well, we basically run a small orphanage and all the computers are on all the time anyway. (we have no firewalls btw)

    it would be nice to find a way to set up something productive

    and i would say my knowledge of hardware is above average

    but thank you for your response and have a nice day
  • cvipercviper Member Posts: 132 ✭✭
    rx 480 gives about 60 usd per month without electricity , 27mhs after overclock stock at 24.you can compare the gpu on the pc l's u have with it and have an idea how much would you make.also if u mine on the pc you cant use it for anythimg else beside web browsing
  • retherrether Member Posts: 258 ✭✭

    un4given said:

    you are way tooooooo late for the party....like 5 years late and almost 1 year late for ethereum party

    there are 3 ways for you:

    1.) forget everything you heard about altcoins to further maintain good sleeping conditions at night and omit new grey hear on your head
    2.) invest into altcoins via trading platforms and keep trading till you reach your goal or just buy and HOLD your coins till whatever point in the history
    3.) having 25 pc's with each 1 GPU wont get you to the sweet spot. that's not how mining works. don't forget about electricity. its far too complicated to start now...would have been easier if you had some good hardware knowledge

    i know! like i said...almost ashamed!

    don't get me wrong, i'll be investing into altcoins after doing my research, even at a loss if i have to. that's because the notion in itself is so new that i can't help but explore it albeit at my own steady pace

    as for electricity - well, we basically run a small orphanage and all the computers are on all the time anyway. (we have no firewalls btw)

    it would be nice to find a way to set up something productive

    and i would say my knowledge of hardware is above average

    but thank you for your response and have a nice day
    What sort of GPUs do these computers have? Unless they are recent and efficient it's not worth it but even still, 1 GPU per system isn't really efficient either which is why most people run 5-6 cards per rig.

    You can't mine on CPU so you basically need fairly new GPUs with at least 2GB of VRAM. It's possible you could make a little bit of money in the off hours but keep in mind that heat dissipation can be a real issue along with component failure.
  • thegatesoftomorrowthegatesoftomorrow Member Posts: 3
    rether said:

    un4given said:

    you are way tooooooo late for the party....like 5 years late and almost 1 year late for ethereum party

    there are 3 ways for you:

    1.) forget everything you heard about altcoins to further maintain good sleeping conditions at night and omit new grey hear on your head
    2.) invest into altcoins via trading platforms and keep trading till you reach your goal or just buy and HOLD your coins till whatever point in the history
    3.) having 25 pc's with each 1 GPU wont get you to the sweet spot. that's not how mining works. don't forget about electricity. its far too complicated to start now...would have been easier if you had some good hardware knowledge

    i know! like i said...almost ashamed!

    don't get me wrong, i'll be investing into altcoins after doing my research, even at a loss if i have to. that's because the notion in itself is so new that i can't help but explore it albeit at my own steady pace

    as for electricity - well, we basically run a small orphanage and all the computers are on all the time anyway. (we have no firewalls btw)

    it would be nice to find a way to set up something productive

    and i would say my knowledge of hardware is above average

    but thank you for your response and have a nice day
    What sort of GPUs do these computers have? Unless they are recent and efficient it's not worth it but even still, 1 GPU per system isn't really efficient either which is why most people run 5-6 cards per rig.

    You can't mine on CPU so you basically need fairly new GPUs with at least 2GB of VRAM. It's possible you could make a little bit of money in the off hours but keep in mind that heat dissipation can be a real issue along with component failure.
    cviper said:

    rx 480 gives about 60 usd per month without electricity , 27mhs after overclock stock at 24.you can compare the gpu on the pc l's u have with it and have an idea how much would you make.also if u mine on the pc you cant use it for anythimg else beside web browsing

    alright, i hear ya

    i don't think any of the GPUs are new than from 2014 or earlier

    i don't want to damage the hardware and if there is no relatively convenient way to utilize these computers for good cause, we'll just have to find another way to be productive

    i say relatively convenient because i am willing to put a lot of effort into setting it all up

    thanks for your input, guys
  • ethfanethfan Member Posts: 458 ✭✭✭
    The first step is to find out exactly what GPUs you have. For AMD cards the minimum is the 7000 series with at least 2GB memory each. Then you can get more specific advice.
  • ihacksihacks Member Posts: 61
    @thegatesoftomorrow you should try CPU mining on XMR, using a Claymore XMR CPU miner, and if you want to use GPU also you need GPUs with at least 3GB memory
  • deepfriedfishdeepfriedfish Member Posts: 1
    Hi guys. I need some guidance. I am just learning about ETH mining and would like to get into it. I have read multiple guides and watched a lot of videos on setting up mining rigs. As of now, I have come to a conclusion to get on with my plan to set up a rig, but this comment by @un4given has thrown a curve ball at me. What do you mean by it's too late? Does it apply to me as well?
  • zawawazawawa Member Posts: 27
    No offense at all, but, unless you have access to free electricity and hardware, you would end up losing money at this point if you don't know what you are doing. If you have some extra cash to have geeky fun, that's OK, but if you don't have prior experience in mining, you shouldn't bet your savings on this.
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