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BitCoin Mining With A VPS
First off, are you stupid to think that it will go well?
I did some tests today, for kicks and giggles to see what you can get out of using a CPU miner, since I know of no VPS providers that stick an idle 600$ GPU in there setups, I assume we all would be using CPU mining.
Here is my test server specs:
root@Dragon:~# cat /proc/cpuinfo processor : 0 vendor_id : GenuineIntel cpu family : 6 model : 15 model name : Intel(R) Xeon(R) CPU E5345 @ 2.33GHz stepping : 7 microcode : 0x67 cpu MHz : 2333.000 cache size : 4096 KB physical id : 0 siblings : 4 core id : 0 cpu cores : 4 apicid : 0 initial apicid : 0 fpu : yes fpu_exception : yes cpuid level : 10 wp : yes flags : fpu vme de pse tsc msr pae mce cx8 apic sep mtrr pge mca cmov pat pse36 clflush dts acpi mmx fxsr sse sse2 ss ht tm pbe syscall nx lm constant_tsc arch_perfmon pebs bts rep_good nopl aperfmperf pni dtes64 monitor ds_cpl vmx est tm2 ssse3 cx16 xtpr pdcm dca lahf_lm dtherm tpr_shadow bogomips : 4655.46 clflush size : 64 cache_alignment : 64 address sizes : 36 bits physical, 48 bits virtual power management: 8 Cores in total.
I get roughly 3071Khash/s per core. Thus 8 * 3000 equals about 2mhash/s, which is really slow. My old GTX250 gets around 30mhash/s, and my 570 gets about 130mhash/s as a point of comparison.
After a whole day I have done roughly 700 parts. Over a month that would be 21,000 parts.
Sadly though, 5,000 parts equals about 0.01$ at current value, thus over a full month of processing I would garner about 0.04-5$. Thus on a 7$ vps you would loose 6.95$ by running a bit miner.
Please don't use your VPS for mining, it is just a waste of your money.
Mun
Original Post: http://www.lowendhelp.com/bitcoin-mining-with-cpu-bad/
Comments
Thanks a lot for this post
. Miners are starting to get really annoying. I know none of them are considering these economics. Hopefully they will.
I think no one does Bitcoin mining on a VPS really.
You'd be surprised. I keep seeing clients using CPU miners on our Blue0.5 plans. Idk WHAT they think they'll get from it, tbh.
Virtual currency is useless anyway and hopefully this stupid trend will die out. It is amazing at how much effort people put into mining this fake currency when they get nothing in return apart from a bunch of fake coins in a fake wallet.
And those "fake coins" can be sold for money, that's what they get.
They are sold through people buying them; so people waste money buying more fake coins just to sell them on again. So, they are worth nothing.
How about buying products in www anonymously? Doesn't sound so worthless to me.
Why would someone want the coins, other than to sell on again? What is the point of buying products anonymously?
How about completely scammable and unsecured? BitCoin is another trend that will die in a couple years once it gains enough popularity to become hacked and corrupted.
You can try mining CPU only coins like Primecoin and Protoshares. Primecoin needs more cores while Protoshares needs CPU and RAM. Recommended Protoshares setup is 512MB/core but always leave free RAM for the system to use.
Coin value as i am writing this
Primecoin $2.21 per coin
Protoshares $10.35 per coin
Does it make you jealous that some people made millions with bitcoin?
Go read up on silk road.
Does it make you jealous that some people made millions with real money that is actually worth something in real life?
If I wanted to make millions with bitcoins, then I'd make an account. But a bitcoin isn't worth anything other than to sell on, so it is one continous loop of worthlessness.
Which was shut down by the FBI. Nice try...
There's silk road 2 now.
To buy shady stuff from shady people?
The sold bitcoins are worth real money.
Sell bitcoins get real money, tell me again how it's fake?
It actually doesn't really make me jealous because I make money doing what I love.
So earning real money with bitcoins and buying real products with bitcon = fake
Because as you said they get real money, they aren't worth anything themselves.
Virtual Curreny != Real Currency
You have a car. If you sell it to someone, you get real money in exchange. So as I said, you get real money, the car isn't worth anything itself. Tell me how that makes sense to you?
All I am saying is bitcoin is useless and should die out now, we should use real money instead. Bitcoin is a threat to real currency.
It has no advantages other than being anonymous and easier to manage. However, the only use for bitcoin is if you want to do something illegal.
Because, bitcoin is meant to be a currency, and currency is meant to be worth something. A pound is worth a pound. A bitcoin is worth nothing currency wise.
Heh, I'm sure that'll last long.
Paper money is made out of paper which costs barely nothing. Still if it says it's worth $20 it's worth $20, even though it's worthless itself.
Virtual Currency that can be used to purchase actual real, physical, goods.
Bitcoins are actually worth around $500 each, so they are are worth something... around $500 REAL dollars that can be used to buy REAL goods.
You buy a VPS does that mean it's not a real server, just because it's virtual?
I totally agree with you. I hate virtual currencies as much as you, if not more. They're worth nothing to me, but they're worth $660.8 USD each as of the current exchange rates to people who are interested in them. Bitcoins are basically like trading stock.
Oh well, I just see no use for them at all other than to trade with other bitcoiners.
Didn't want to cause an argument here though.
I purchased ALL of my VPS with bitcoin
There's no questioning Bitcoin's existence/uses. The main issue here is that people are buying VPS's to do coin mining, which really doesn't pay for itself.
Alongside that, (I hope) we all know that once something is put on the Internet/virtual world, it is no longer secure. This being said, once Bitcoin and all the other coin trends reach a certain point of popularity, they will become hacked and the services will be unstable and ruined. The virtual coin economy will go to ruins because of hackers inflating the economy with counterfeit coins.
This makes me wonder, if you generate fake Bitcoins and throw them into the economy, would it be classified as money laundering since it is an electronic form of currency?
I don't own a single bitcoin but i am happy for people who became rich from it.At least this currency helped people to make their life better.
Profit comes from Mining + Trading. The coins that you mined will be traded in exchanges and profit from the trades.
Others only mine and dump that's why there is indeed no profit from it. If you use the coins that you mined as a capital for trading then it will eventually make a profit.
Buy Low Sell High