Is mining profitable with your gaming laptop?

in #mining7 years ago

Yeah, the story goes, you need some beast gpus, gpus are expensive and you may as well buy coins.
But hold on, wasn't it years ago that people started mining bitcoin thinking it would be worth nothing, and eventually became rich?

I had this idea, I wondered what I could mine that has some profit at a low difficulty with my current rig, so the search began, it actually began back in 2009 when bitcoin could be mined on any kind of rig, I got bored though and instead played video games.

Not this time though, I was curious what the best coin might be to mine right now, I started off thinking maybe monero, difficulty is 90 billion and it's worth 0.02 btc, (which is pretty good) so off I went, I decided to try pure gpu mining first with xmr aeon stak, I setup the pool, it's a little difficult for newbies to understand how this all works, but eventually I had it running.

I ran it for 3 hours, I didn't want to lower the lifespan of my laptop, I still wanted to play games on it. The amount I earned was 0.000087790911 XMR here's how my stats looked (https://gyazo.com/42377c030f77ce017c680851ad19ed80)

But at the time it didn't show a balance. (my guess is they do the same, takes time to confirm the block)
So I wanted to see if there was an easier way to mine I found minergate, yeah I heard the stories of them stealing hashrate, but i decided to give it a go anyway.

Within moment it was running, no setting up pools or config files, very simple interface. https://gyazo.com/e207db60246faf1592593dffb644b565, But as you can see i'm mining xdn(DigitalNote) as well now, I found it is a low value coin(183 sats at the time of writing) but, at one time all coins had low value, i'm going to mine at least 10, hold them for 6 months and see how I go. I set mine to pplns since it does give higher payouts, you just have to be a little patient as it needs to confirm the block before you get the payment.

Lets say you have a 1060 6gb though and the power is just sitting idle, this might be a good way to mine something that could be worth more in 6 months. This is no way an advertisement for minegate, this is just my perspective of the current gpu situation, with hyper inflated prices, infact you could of probably made more money if you had brought 160 1080ti's back before the gpu shortage than with crypto in the last 2 weeks.

The market isn't looking healthy, of course there will be bounce back , however these low value coins that are currently 183 sats, they might be worth 600 sats in a month, there is no way to predict crypto, you may be able to read a chart and predict bullish market but in reality, volatility will probably continue for another few weeks until bitcoin hits 4500 or lower. I myself have pulled out 80% of my portfolio until this blows over.

This isn't the best time to get into cryptos but using your gpu power you might have sitting around is an easy way to mine some coins at low costs, hodl them for 6 months, if you don't gain value, it might take 5 years for them to do anything but the one day it rises 300% and continues to rise 30,000%, you'll be glad you at least mined 1 of those coins where your idle power was going to waste. I even setup an android box I have sitting around to mine at 10 h/s, I mean in the grand scheme of things that is nothing, but I usually have it running all day anyway the best thing is that I can set it to mine whatever i want (expect for btc and ltc) The amount of power required to mine bitcoin is basically g/h or p/h (gigahash or petahash) and ltc requires asic machines.

So is mining profitable on a gaming laptop, probably not, unless some of these low value coins skyrocket and the cost of your laptop lifespan will shorten, A gaming desktop with more cooling, perhaps, 2 gtx 1060s 6gb will probably net you a couple of coins a week. These stats are easier to understand than most
https://www.coinwarz.com/cryptocurrency

At the time of writing Infinium-8 and MonetaVerde have 0 value, I mined them because they were easy and who knows, coins revive all the time.

Sort:  

Congratulations @smodahf! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 1 year!

Click here to view your Board

Support SteemitBoard's project! Vote for its witness and get one more award!

Congratulations @smodahf! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!