Very good article. It is as I suspected. But I was hoping for at least a quick few millionsASIC box > GPU > CPU for bitcoin mining.
The problem is, even ASIC box makers are selling them (instead of using them themselves but speculations are that they use the products until it's not profitable and then deliver them). Thus, unless you have free or low cost electricity you won't break even (unless bitcoin price keep going up but that's probably due to speculations). However, ASIC box are worthless after awhile, but you can use Mac Pro to make money in other ways (say produce something).
This article describes the tradeoffs.
Bitcoins will burn your cash sooner or later.You could speculate that the value of bitcoin will go up thus providing a payoff, but ... it might also go down in value.
The other day my wife asked me, as the resident computer nerd, "What are these Bitcoins I'm hearing about?"How about growing Dutch Tulips? I think maybe the center heat sink might be able to act as a nice pot for growing.
MacSociology; is there a way to contact you? I'm very interested in your operation.The new Mac Pro will be a waste of money using it for mining Bitcoin. ASICs are dominating SHA256 mining. In February we will see ASIC rigs mining at up to 7.5 thashes, while the Mac Pro will probably be mining at a few hundred mhashes.
It'll do better with scrypt based mining, ex. Litecoin, but it'll still be way too expensive for a rig. In mining you will not use the CPU as mining rigs are primarily using the GPUs. A rig with 3 Radeon 7950 will result in approx. an income of 35-45 $ per day, and these are best GPUs for mining today. 280X won't be a bad choice today, but 7950 is still the best choice. (But it's not easy to get your hands on a 7950 these days.)
If you would like to make some money you should probably buy dedicated hardware for the mining. You'll need a cheap CPU, 2-4 GB RAM, a MB with 3-4 PCIe lanes, and multiple GPUs. Preferably GPUs you will be able to overclock and undervolt. (Last one to save some power usage.)
At the moment I got 4 rigs with 4 GPUs in each rig. The daily income is at the moment 150-250 $ as I am mining several coins.
Yup, in fact, this is exactly why used 7950 prices are so overinflated. My younger brother is mining right now with a quad 290X rig for litecoins. The only problem with litecoins is it's not as easy to convert to 'real' currency as bitcoins at this time.It'll do better with scrypt based mining, ex. Litecoin, but it'll still be way too expensive for a rig. In mining you will not use the CPU as mining rigs are primarily using the GPUs. A rig with 3 Radeon 7950 will result in approx. an income of 35-45 $ per day, and these are best GPUs for mining today. 280X won't be a bad choice today, but 7950 is still the best choice. (But it's not easy to get your hands on a 7950 these days.)
Whatever argument you need to find to splurge on the nMP, you will find...Seems like it might be pretty good right out of the box. Any thoughts?
You're making the assumption that a machine mining Bitcoins has to pay for its full cost. If you also use the machine for other things and only run mining programs overnight for example, then that could still serve to help pay for a fraction of the machine's cost, or to help pay for peripherals, games or whatever else you spend money on.Financial market theory dictates that no machine available on a public market can be able to pay for itself by mining bitcoins, because even if such a machine could be built (BOM < bitcoin income), the market would push up it's price until the price of such a machine would outstrip the possible bitcoin income.
Hi Marty. Impressive! Is that GPU or CPU mining? Could you elaborate on your setup.I just set the mining operation up on my 13" Oct 2013 2.4Ghz i5 - 8Gb Mac pro.
It reached a steady 25Gh/s which was admirable. However it is terrifying to run it off the Macbook pro alone as quite a few have tried and needed replacement boards/chips. The little amount of cooling means that thermal damage possibility is high.