A hypothetical question from a hobbyist

[timesavage]

So my knowledge about this area of computing is so limited, I feel way out of my league. It seems like mining is becoming extremely popular. Long term or fad? From what I understand if I were to put a rig into the game, what are my chances of scoring even one coin if 90% of the machines out there are far superior than mine. Not to mention the computing geniuses running these machines...
One Member has a whole class learning and mastering this art of mining.

For instance. I have an 1190T and 3 gtx 460's sitting around, due to my change over to intel. If I were to build a mining rig, wouldn't the guy with 4 r290's just cancel me out? I love to build computers, but at this rate my already expensive hobby would escalate into a true monster by dabbling in this venture.

Most would say, then don't do it, and I can assure you I probably won't, but my curiosity is exploding trying to understand how a average, at best, hobbyist would even consider building a rig, knowing the limited payback. Is there a hidden lottery ticket in the coins somewhere? Is it the the knowledge of "true currency" is a possibility? It is all very fascinating. Just a wondering hobbyist. Thanks for reading

 

[ZL1]

well in your case as in the case of most people who dont wish to invest in this, the key is using what you already have; those nvidia cards you have wont be great at mining, but the two in your sig rig could produce some decent results; go over the getting started sticky in the main section to get a bit more info on what your hard could do

mining and bitcoin now have over 4 years so its hardly a fad

 

[timesavage]

I will review the sticky again. And I certainly wasn't trying to insult by saying it was a fad, I just heard someone on a popular podcast using the terms like bitcoin, so I am hearing it more than ever.

So if powerful gpus post the best results, this is an expensive venture if you want true results?

And even though he made millions, Justin Bieber has been around for more than four years and I assure you he is a Fad, or at least we all hope so!

 

[ZL1]

well wasnt taken as one i just meant its far from a fad
well justin bieber probably does not have a market capitalization of 9billion usd

the better the card, the better the results, but even $100 cards do decently (radeon 5850 for ex)

 

[timesavage]

Just to try and get an answer, even if I were to buy 3 expensive ($250) cards, there is a finite amount of coins, so wouldn't the more powerful machines make my rig obsolete within days? Thanks for the help

 

[ZL1]

well i talked about all of this in the getting started, the difficulty of course goes up the more users mine, but there are a bunch of coins out right now and you wouldnt be mining btc directly anyway, that is way too difficult now
what you do is mine smaller coins, trade them for btc and sell the btc for usd
obsolete will happen only if prices on btc drop say 1000fold in the next month, if prices hold, you will recover the 3 expensive cards withing 2-3 months