BitCoin Mining with a Dedicated Server?

David Beroff

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#1
What do you think if using a dedicated server to earn BitCoin? Is it possible? I saw more people are using high PC specs to get BitCoin but not sure how if use a dedicated server instead. What are your thoughts?
 
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#2
Having recently played with the idea of Bitcoin as I might have some servers just sitting around, I can tell you after a 30 day run of a few servers, I made the equivalent of roughly $5 in bitcoin from 3 servers. Two of the servers were E3-1240v5 CPUs, and one E3-1270v6. So doing some more research it appears the only way to make money mining Bitcoins is with the ASIC mining hardware.
 

VirtuBox

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#3
What do you think if using a dedicated server to earn BitCoin? Is it possible? I saw more people are using high PC specs to get BitCoin but not sure how if use a dedicated server instead. What are your thoughts?
For bitcoins it's not possible to mine without FPGA or ASICs, BFGMiner (very powerful and very expensive), and it's already too late for Etherum and Litecoin.
CPU are not fast enough, and GPU are too expensive.
 

David Beroff

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#4
For bitcoins it's not possible to mine without FPGA or ASICs, BFGMiner (very powerful and very expensive), and it's already too late for Etherum and Litecoin.
CPU are not fast enough, and GPU are too expensive.
So dedicated servers on the market now are not possible to serve for BitCoin Mining?

Having recently played with the idea of Bitcoin as I might have some servers just sitting around, I can tell you after a 30 day run of a few servers, I made the equivalent of roughly $5 in bitcoin from 3 servers. Two of the servers were E3-1240v5 CPUs, and one E3-1270v6. So doing some more research it appears the only way to make money mining Bitcoins is with the ASIC mining hardware.
I am still new to bitcoin. I'd like to know how much did you spend for 3 these dedicated servers?
and how much for $5 in bitcoin equal how many dollars?
I tried bitcoin to dollar on Google and its displaying 5 bitcoins equal 14049.35 US dollars. Is that exact?
 

CaygriWEB

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#5
the conversiont bitcoin/dollar it's correct.
 

VirtuBox

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#6
So dedicated servers on the market now are not possible to serve for BitCoin Mining?
dedicated servers with GPU can be used to mine, but you will just only loose money. A server with
4 x NVIDIA Geforce GTX 1080 cost at least $1400/mo.
I tried bitcoin to dollar on Google and its displaying 5 bitcoins equal 14049.35 US dollars. Is that exact?
Currently 5 bitcoins = 13957.70$
 

David Beroff

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#7
4 x NVIDIA Geforce GTX 1080 cost at least $1400/mo.
For example, If madRoosterTony ran 3 dedicated servers with this pricing then 3x $1400 = $4200 / month

Currently 5 bitcoins = 13957.70$
and he earned 13957.70$, it is worth to get bitcoins in this way, right?
 

CaygriWEB

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#8
bitcoin it's like WallStreet with change value with euro/dollar etc there is good period and bad period.
In anyway you need to know like it's work
 
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#10
Thats correct, I earned $5 total. Not 5 bitcoin. I earned 0.00179483 Bitcoin

As we already owned these servers (i.e. servers that ready for someone to buy from us through the hosting company), they did not cost me anything. But on average these servers would cost someone around $150 a month. So doing the math $150 x 3 = $450 - $5 earned, I would have lost $445 a month.

GPU mining increases the output, but from what I read not greatly. You have to use the ASIC devices if you want to generate any real bit coin.
 

David Beroff

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#11
I would have lost $445 a month.
It is not a big amount but it was really a big experience for you :)

GPU mining increases the output, but from what I read not greatly. You have to use the ASIC devices if you want to generate any real bit coin.
This means you are still new to bitcoin mining and you are studying to earn more bitcoins, right?
 
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#12
madRoosterTony
I currently have a little over 10 bitcoins that I have gained through a number of means over the years. My experiment was more if CPU mining was even a viable solution anymore. Due to the fact that any given time I have a number of servers that I can "Hijack" for use to CPU mine since we pay a flat rate fee on our power at the data center, its not really any money out of my pocket other then a little bit of bandwidth. Although it does not take long to setup a miner and I could have created an ISO image to load and make it even easier, earning $5 a month off of 3 servers is not worth my time to monitor which servers I have available, which ones have been reclaimed by the provisioning department and issued to clients, etc.

I have no plans to setup an ASIC computer to continue to mine. From what I understand you can mine Litecoin with CPU mining, but as the price of it is around ~$45, Im not sure its worth it either. :)
 

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#14
Not really, not without dedicated Bitcoin equipment. You'll be paying more in electricity than you're gaining in bitcoin. It used to be the case, but no longer. Plus with the massive volatility in bitcoin (more than usual) right now, it's probably not the best use of your resources.
 

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#17
Having bitcoins is great because we all know that it has a big amount of value so I think any one of us want to have that bitcoin. Bitcoin mining having with a dedicated server is good so that we can ensure earning those things.
 

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#19
agree with VirtUBox cost wise but you can mine with dedicated servers Dual CPU or GPU or you just need the right programs on the server.
 
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#20
There is a lot lower overhead to mine alt coins like XMR. For instance I can produce around 600-800h/s on a server I pay $75/month. Surely it's not pay for itself. Might as best do for me $1-2 a day ( dont crucify me on the estimates), but when you add in speculation it COULD more than make up for its cost. And of course i'm only paying sub $100 a month and getting a use out of it for other aspects of my business. On the other hand, I dont have a use for servers with GPUs installed. And I have not found any for lower than $200/month. So I might produce more h/s but now my investment becomes a dual use plan to just a purely speculative approach. Where my expectation is to make profit, but the reality is with overhead I may be hoping for a pop to just break even.
 
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#23
You can mine with server or VPS, just depends if the host you are buying from will allow it. Its far more economical to mine an Altcoin like monero than BTC with a cpu, but hey if you want to take 5 years to make a coin go for it!
 
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