Want to buy a Raspberry Pi computer to start mining Bitcoins
A few days ago, I started to get interested in buying a Raspberry Pi computer. I want to buy one because I want to do some of the cool projects they have and just geek out. Another topic I got interested in is Bitcoin. I got interested in bitcoin ever since I started hearing about Steemit and made an account on the site. So I want to work on both topics at the same time.
I started researching more about what bitcoin is and how to mine for it. I have gathered a lot of information so far from this topic. I also found out that bitcoin isn't the only cryptocurrency out there. For example, there's Litecoin and Ethereum. Definitely want to research more on those cryptocurrenies. Wouldn't hurt to mine both of those as well along with bitcoin.
The project I want to start is to mine bitcoins with Raspberry Pi. This project sounds like a lot of fun and its affordable for my current budget. First, I need to buy a Raspberry Pi computer, download the operating system and other bitcoin software. Then, I need to buy other accessories like a USB hub and a USB bitcoin miner to mine the coins. I;m gonna look around online and in stores to find the items I need to get started.
I'm excited to start this awesome journey of Raspberry Pi and bitcoin mining. I'll keep you guys posted on my progress and show the end results of my project.
i dont want to ruin your project, but is almost impossible to earn money this way. Maybe mining other altcoins but mining bitcoin is ALMOST impossible, search a little about ASIC's and hashpower and you will understand.
and the reason i say almost is because even with low hash you can still find a block but the odds are very small..
You could mine bitcoin with a raspberry pi connected to a host of ASIC usb thumb drives. Get like a 20 port powered USB hub.
To mine seriously you'll want to look into GPU mining because CPU mining is all but dead, and GPU mining while still possible from home is only good when it comes to ASIC resistant algorithms. Forget about SHA 256, Scrypt, and anything that you can use an ASIC on.
My suggestions would be to find a good mining pool, and shoot for maybe Ethereum while it's still POW and not POS. The Cryptonote algo is also a good alternative for home based GPU mining just don't expect to get rich anytime soon without a server farm and watch the Hashrate per Kilowatt hour because the bills can all but kill your ROI when mining from home.
Trust me, I've been doing this a long time and we're nearing the end of the home based GPU miner in the very near future. If you're dead set on it as a hobby or learning experience I would highly recomment researching a lot before committing to buy any hardware.
Some (actually most) algo's are best run on an AMD card but others do well with Nvidia cades if not better. Pick your coin and algo first before buying anything. Nothing sucks more than paying hundreds or thousands of dollars on hardware only to find out mining isn't like gaming.
The newest most expensive Nvidia cards are hardly worth the cost if you're going into mining and the money would be better spent on several cheaper cards in one machine, rather than one single high end card meant for gaming.
FYI : I'm posting this from a mining rig as we speak. lol
Good answer I was also wondering if its profitable or if its really something I will just go for the learning experience.
You'll do far better if you try to mine Steem with Raspberry Pi.
Mining Steem on a Pi 3 is pretty much impossible too... A Pi 3 only has a 4 core processor that's clocked around 1Ghz and no where near enough RAM. Even with 6 Cores at 3.2 Ghz and 16 GB I was only getting roughly between 20KH/s to 21KH/s. Not to mention someone all but DDOS'd mining if you check the list. The average time to have your POW included in a block is up to like 2 weeks now. Someone either created a botnet farm or is renting some serious server time.
I can look into that as well.
I'm not trying to get rich off of this. It's just a side project I want to do for fun.
Its always important to research on this topic I'm also learning and I'm finding the whole process really exciting.
mine monero or bytecoin. they gives more profit via mining by CPU. it is the best way for a small budget project. GTS 1070 or 1080 is much better for bigger budgets. rpi0 gives very close results for mining, so it is the optimum solution for price / performance.