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Author Topic: How do I get started earning bitcoins by mining and the most beneficial way?  (Read 6005 times)

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Offline grimreaper1014Topic starter

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Hi guys,


I have just recently heard of bitcoins. I don't know much about it at at all. I am wanting to learn more. I have heard there are programs you can run on your PC to ear bitcoins for free. I believe this is called mining? I take it this is like folding? Could someone give me the basics on how I can get started? What got me interested in this is I was looking for a VPN for downloading torrents and I saw that there are VPN providers that take bitcoin. Basically what I am trying to do is find the best way to earn bitcoins to help pay for a VPN every month. Could you guys help me out and tell me what I need to get started like program wise etc? Will my PC do pretty good at this? I just built it. I have a i7 3770k, 2 Sapphire 7970's with Boost, and 8gb of ram.


Thank you,
Rocky


Offline zelles

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You could easy pay your VPS every month and have some left with just your 7970's...

Look into using a mining program called "cgminer". With cgminer you will be able to use both your 7970's to mine Bitcoins, or any of the alt-coins.

Bitcoin is sha-256 based while Litecoin is scrypt based. But with your GPU's you can mine either sha-256 or scrypt based coins.

After downloading and extracting cgminer join a Bitcoin mining pool like triplemining.com or eclipsemc.com. Create a worker on your account. Once you have registered with a pool and have the pools url and port, as well as your worker details, go to the cgminer directory. Enter your pools information in the cgminer.conf file. You might be able to find a cgminer.conf file with the settings changed to optimize the speed for your 7970's, either way enter YOUR pool and worker details.

Now create a .bat file in the cgminer directory and enter the following:

Code: [Select]
@echo off
set GPU_MAX_ALLOC_PERCENT=100
setx GPU_MAX_ALLOC_PERCENT 100
cgminer.exe --auto-fan --failover-only

Now run the .bat file to start mining Bitcoins. Set up the Bitcoin client (wallet) on your computer. Copy your receiving address from your wallet and set the pools auto payout feature to automatically send you the Bitcoins you mined when the amount gets over the amount you choose.
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Offline grimreaper1014Topic starter

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Thanks a lot for your help. I greatly appreciate it. I am going to give this a try a little later today. Do you know where I could find a cgminer.conf file that would be optimized for my 7970's? I have no clue where to even start looking. I have been doing some reading trying to figure out more about this. Will adding more 7970's allow me to mine Bitcoin faster? I am using a ASRock z77 extreme 6 motherboard. The board has 4 PCIE slots all together. There are 2 PCIE 3.0 x16 slots (x16/0 or 8x8). 1 PCIE 2.0 x16 slot. Finally, there is a PCIE 1x slot. Not sure if anything can be done with the 1x slot or not. I do see that people buy a 1x to 16x cable. Is that so they can run another video card? If so how well does that work? My PSU is a Corsair AX850. If I add any more GPU's I am going to have to add another PSU. I do see they have an adapter though to add another PSU. Not sure if I want to do all that though as I use this PC for other things as well. I was just going to mine while I sleep or the PC is idle. If there is a decent amount of money that can be made though I might end up making this into a full time mining rig.

Offline zelles

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If your going to put money in to hardware then you would want to get a ASIC mining device. A ASIC will mine at high speeds and only use like 45 watts compared to the 450 watts it would take GPU's. Either way, yes you can add more 7970's to the mix. Using 2 7950's with the default cgminer settings would get 660 Mh/s. When tweak it, I have hit steady speeds of 1,200 Mh/s with no issues of it overheating.
 
You can google Bitcoin mining calculator
and Bitcoin mining hardware comparison
 
On the Bitcoin mining hardware comparison search there will be a page that list the different cards and what people are averaging with them.
 
Note the Mh/s the your 2 7970's will make.
 
Now on the Bitcoin mining calculator search, go to allomoncomps(<spelt wrong for sure) mining calculator.
 
Enter your Mh/s you noted and calculate the earnings you would make hourly, daily, monthly, and yearly.
 
I'll see if I can find a conf optimized for 2 7970's... But I don't have 7970's to test with.
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Offline grimreaper1014Topic starter

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Thanks a lot for your help. The 7970's I am using are the Sapphire 7970 with Boost. I have read these are the best 7970's for mining or at least the 2nd best. I read that on a page about building mining rigs. Is there a good place to ask around about mining hardware and tweaks? That way I can read about anything I can try or ask around for advice and pointers about how to increase profits?

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There is not really anywhere specific that talk about "how" to do the tweaks. At least not that I know of.

Some Example confs:

For sha-256 based coins(bitcoin)

"This should give you 670s Mh/s, then you can increase gpu-engine clock to 1180, maybe 1200 to get 720 Mh/s "
https://bitcointalk.org/index.php?topic=76228.0

For scrypt based coins(litecoin)

"Notice the notes on the right of your model card. It has basic cgminer configs for scrypt based mining."
https://github.com/litecoin-project/litecoin/wiki/Mining-hardware-comparison#wiki-ATI_AMD_GPUs

"Here's my cgminer 7970 config for scrypt / litecoins. This gets me approx 750 Khash/sec if you push the memclock to 1800 and the engine clock to 1080. This current OC config might be too high for you or you might want to push it more. On my reference 7970s the engine clock / mem clock ratio peaks at 0.6." https://gist.github.com/swhitt/5158247

"this conf will work getting 660 kh/s at 950 proc 1425 mem" https://forum.litecoin.net/index.php?topic=1794.0


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Offline grimreaper1014Topic starter

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Thanks again for your help. I didn't get a chance to experiment yesterday. I am going to give this a whirl today. Is there a decent amount of money that can be made from doing this, or does it require some really good hardware like one of those ASIC mining rigs? It would be nice to make some extra money to satisfy my need for new hardware lol. This all seams a bit overwhelming. Seams like there is so much information out there on this kind of stuff. I guess I just need to dive in and give it a shot. I heard those ASIC mining rigs increase the difficulty and make it hard to  re-coop  your investment. Is this true?

Offline grimreaper1014Topic starter

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I have Windows 8 x64 edition. On this page [nofollow] would I just download either one of these two and install?
cgminer-3.3.0-windows.7z [nofollow] or cgminer-3.3.0-windows.zip [nofollow]

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You can use either one. One is zipped the old fashion way and one is zipped by 7zip. Both contain the same files.

The "network" difficulty will rise no matter what with time. Even is ASIC's didn't exist... Once ASIC's are more mass produced and active the more the network difficulty will rise. But that is because the network speed will rise.
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Offline grimreaper1014Topic starter

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Thank again for all your help. This is what I have done so far. I have created an account at trippleming.com. I have also created a worker account. I downloaded cgminer. Then, I downloaded MultiBit (wallet) and installed it.  I copied the link from my wallet into my worker account and have it setup to payout at 10BCT. I went into the cgminer folder and clicked on cgminer since I did not see a file named cgminer.config.file. Once I clicked on cgminer it opened up a black box. It asked me for the server. I put in stratum.triplemining.com:3334. It then asked for my worker details. I put all that in. Now in that black box that opened when I clicked on cgminer it says
[2013-06-29 11:47:09] Accepted d5432591 Diff 1/1 GPU 0
[2013-06-29 11:47:11] Accepted 4d9eab83 Diff 3/1 GPU 1
[2013-06-29 11:47:12] Accepted ea965df4 Diff 1/1 GPU 0
[2013-06-29 11:47:18] Accepted cb3c27b2 Diff 1/1 GPU 0
[2013-06-29 11:47:20] Accepted 85858bc5 Diff 1/1 GPU 0
[2013-06-29 11:47:23] Accepted d6c03aa4 Diff 1/1 GPU 1
[2013-06-29 11:47:23] Accepted eaa62e4a Diff 1/1 GPU 0
[2013-06-29 11:47:35] Accepted 7a6b941c Diff 2/1 GPU 1
[2013-06-29 11:47:37] Accepted c6040275 Diff 1/1 GPU 0
[2013-06-29 11:47:37] Accepted 2abbaa60 Diff 5/1 GPU 0
[2013-06-29 11:47:38] Accepted 0affc332 Diff 23/1 GPU 0

Can I go ahead and close this black box and create the .bat file now? Did I do everything right? Do I need to put my API key from tripplemining in anywhere? When I'm done mining for the day can I go ahead and close cgminer and close MuliBit? Is there anything I need to do before closing? Sorry for all the questions. I really appreciate you giving me a hand with all this.

Than you,
Rocky

*Edit - I now see what the above means. That was cgminer actually running. It ran for about 2 min because I didn't know what it was doing before I closed it. With the default config and no overclocks at all on my GPU's it says I am at 764 MH/s. That is higher than the config files above so should I just keep it the way it is? How do I switch to mining litecoin if I want too? How do I join a minipool? Right now when I click on minipool it says I'm the only member. I believe it said on trippleminin if you join a minipool you earn coins faster than if your by yourself.
« Last Edit: June 29, 2013, 04:10:03 PM by grimreaper1014 »

Offline grimreaper1014Topic starter

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Please ignore the above post. It will not let me edit it now. This is what I have ran into after messing with cgminer for a little.

I have created the .bat file and ran it then started cgminer. I thought my cards where running at 764 MH/s but thats just what the tripple mining page said. Actually they are only running at like 525MH/s -570MH/s according to cgminer. I just have my card running at the default clock speed right now of 950 core and 1425 memory. This seams really low. Is this just because I ran it for only a few minutes? I am just going to use this config you posted for now.
"this conf will work getting 660 kh/s at 950 proc 1425 mem" https://forum.litecoin.net/index.php?topic=1794.0" [nofollow] I just noticed this config is for litecoins? Will it work for mining Bitcoins too? How do I switch to mining other types of coins? Also I don't see the config file in cgminer to add this config.

My one GPU is getting up over 80C. Is there something I can do about this? I am going to try to put some new thermal paste on them both. Other than that is there anything else I can try? Maybe I will also go ahead and let all my case fans run at the max too while mining. I have some really good Swiftech Helix 120 PWM fans. I have a water cooled CPU. I am thinking about just watercooling the GPU's as well.

Will joining a mining team with other members get me more bitcoins, or will I earn the same amount and possibly more by inviting people to my own team? I don't know who I am going to invite though lol.

« Last Edit: June 30, 2013, 12:55:19 AM by grimreaper1014 »

Offline zelles

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No, a conf for litecoin will not work with bitcoin. Above I provided links to confs.. use/create one... sha-256 and scrypt are different algorithms.

The accepted lines means it is working.. The conf will just optimize your cards performance... Mine double just by tweaking the conf.
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Offline mco65

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A Flux Capacitor   ;)

Seriously, without an ASIC or 10, not sure you can profit the old fashioned way.. :(
Bitcoin buying [nofollow] - Buy Bitcoin coins [nofollow] - Cash in Bitcoins [nofollow] - Bitcoin Mining [nofollow]
BTC: 17yABX3G6WcHRC9J1YnNip6q76Sg6tjZ6a
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Offline Carlos Danger

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Nothing wrong will run the GPU, just to get an understanding as to how it works, since he already has them. I hope he did not buy them just for the purpose of mining. They will use as much in power and they earn in BTC, if not a bit more.


Four USB Block Erupters would yield about the same hash and run on 5v 2.0 amps.
And cost about the same as one 7970. If you are in it for fun and just want to make a few coins, cool. But if profit is your goal ASIC is the only thing that make sense.


With skyrocketing difficulty, ROI is problematic on BEs, but damn near impossible with GPUs unless you have free power. A lot of GPU miners are switching to LiteCoin, but I know nothing of Alt coins. I am just beginning to understand BTC.
« Last Edit: July 27, 2013, 07:07:51 PM by Carlos Danger »

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need blockchain?
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