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I have a gaming pc (i7-6700k and R9 390) and was wondering if bitcoin mining is a good deal because they are over $600. What exactly does mega-hash mean, how many equal a bitcoin, how long does it take it take to get a bitcoin, and can I use it on amazon? I know that mining takes time from your gpu, but couldn't I just upgrade to a better gpu when I get some bitcoins? Am I missing something?

marked as duplicate by Murch Sep 29 '16 at 15:09

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Bitcoin mining is no longer feasible with even such high end hardware as yours. It nowadays requires special ASIC mining equipment. The performance of the connected miners is measured in Hash per Second. This means how many hashing operations of the kind required in Bitcoin is the equipment capable of doing per second. The fastest ASIC mining units currently produce a couple of Terra Hash per Second, while your graphics card will not be able to output more than a couple of Mega Hash per Second. If you have to pay for electricity, this means you will never make any profit, so go figure.

When mining bitcoins your are just randomly searching for solutions of a cryptographic puzzle, that is designed to take the whole network about 10 minutes to solve on average. There is no guarantee on how many Hashes you need to calculate, before finding a valid solution. This only counts when solo mining however. It is therefore strongly suggested, that you join a pool to make any profit. A pool distributes the work to solve the puzzle to its partakers. When pool mining, the pool can calculate your estimated income based on your share of the total hashrate of the pool.

If you want to mine with your gpu, there are 100's of Altcoins that support GPU mining and are still somewhat profitable to mine.

  • Thanks for the response, any Altcoins you recommend? – AsianTemptation Sep 30 '16 at 2:20
  • Shameless self-recommendation: Gridcoin. Otherwise Ethereum, Dash and Monero are solid coins for GPU mining. – TheCharlatan Sep 30 '16 at 15:09

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