How long does it take to mine 1 bitcoin?

[Sgroi]

Was just wondering how long it would take on a processor thats 2.67 ghz, and a nvidia 9800gt graphics card.

 

[TJOC]

By yourself, could take years, literally. By the time you mine one block, you pay more for energy than what it's worth.

I would suggest looking into a mining pool.

 

[Cas]

1 bitcoin on a non-premade btc miner will take ages.
100% not worth it power-cost wise.

 

[Superfluous]

Use this: https://en.bitcoin.it/wiki/Mining_hardware_comparison in conjunction with this: http://tpbitcalc.appspot.com/

 

[Sgroi]

I see thanks for the input guys. And what exactly is a mining pool?

 

[TJOC]

Its basically the only way to make money mining bitcoins, which you still don't mine much.

Search for "bitcoin mining pool" there's a ton of them.

Its where you team up with a large group of like 20 people and with all of your computers you have a larger chance of getting them. But you split the profits and you pay a fee (like 2%) to the one hosting the pool. You have to trust the one hosting to actually pay you as well.

 

[Patriarch]

Get a KnC or CoinTerra miner [1TH/s+] & join a mining pool where the total power is [30TH/s+] minimum. You will be getting constant btc & will cover your mining equipment, electrical bill & everything else relatively fast. No definite time frame because you havent told us of your stats. Good luck

 

[Nick 91]

Not even worth your time, if you have lots of extra cash to invest, than maybe.

 

Not even worth your time, if you have lots of extra cash to invest, than maybe.

This is a very short-sighted outlook. If the goal of the OP is to earn profit / income from running a miner on his computer, then this project is not worth undertaking.

However, if OP goes into this without the expectation of earning money, and instead to learn about mining and how it works, this could be well worth the negative returns. Getting experience with cryptocurrencies and mining will provide him with knowledge of a market which is growing exponentially.

In the future, OP may draw upon his learnings from mining on his PC to set up a viable mining operation or another type of crypto-currency business.

Long story short, do some research, try some stuff out, don't be worried about earning a return off the bat.

 

[kailahopkins]

If your into solo mining it will take you for about 98 days, crazy right? So it isn't advisable at all. Try pool mining or upgrade to ASIC-based mining hardware. I've read that you can make $0.000485032112 per min, or $0.02910192672 per hour or ~$0.69 per day. How cool is that?

 

[Xenophis]

If your into solo mining it will take you for about 98 days, crazy right? So it isn't advisable at all. Try pool mining or upgrade to ASIC-based mining hardware. I've read that you can make $0.000485032112 per min, or $0.02910192672 per hour or ~$0.69 per day. How cool is that?

Disregard this information... He just made it up. 98 days ROI with 20 - 30 Mhash/s? Not a chance. It'll take much more than theoretical years to earn anything more than a dollar and his calculation of earnings is ridiculous too. Earnings are never set in stone, they fluctuate depending on many factors (pool success at solving blocks, payout changes, volatility of crypto prices, your own hash rate essentially serves as your shares which determine the dividends, the ever rising mining difficulty will have drastic effects on diminishing returns.

If you plan on doing this OP, make sure you do it for learning purposes only as R2P stated above. For folks going to universities, if you're dorming, you generally don't pay for electricity so this is an ideal place to get some free wattage.

Few things you'll want to note when starting to look for mining hardware. Make sure it's not Nvidia. AMD cards are well known to have much higher hash rates than their Nvidia equivalents. Of course ASICs dominate the market in this day and age, but that requires significant monetary investment.

CPU mining, just don't at this point. Not even worth it for testing as they are considered fossils of the Bitcoin mining era. It will eventually shorten the life of it due to the high strains the hash calculations put on it through constant use, thus making him lose even more money if he does this.

If you ever get serious enough to want to mine and don't have the funds necessary to do it yourself, try and find legitimate group buys on various forums that pre-order the latest and greatest Bitcoin ASICs and split the profits (some massive miners are going to be released this year, TerraMiner IV from Cointerra and Neptune from KnC).

To give you a perspective on just how powerful these miners are, the Neptune, which will be running at 3 Thash/s is equivalent to approximately 100,000 Nvidia 9800 GT's.

 

[Liuwqf]

With your specs? Not worth it. I'd advise you to either join a pool, or there's another way that is not legal.

 

[SexayMistahBee]

I'd also like to add that bitcoin mining is a resource-hog; multitasking would nearly be impossible while mining.

At least, that's what I read