For those of you who have heard of bitcoins beware. While you can convert your money into bitcoins and hope for a boom, be aware that none of this is backed up by any financial institution. However, this is not what I'm writing about today. What I'm writing about are the miners.
Mining for Bitcoins can cost you more than you will find
It's sad but true. Now there are people out there making money off of this, and there are people out there who did and have made money off of this. How did they do it? It's simple, they were on the front lines when bitcoining first came out. Since there were few people who were crunching numbers the take was vast. Fast forward today, the bitcoin file is over 6 gigs in size and is growing fast. Will your at home not built for mining rig work anymore? The truth is, no. It simply does not have the proper equipment to mine. If you did have that equipment, a really fast video card, it is more likely to cost you more in electricity to run the system then you will discover in bitcoins.
The fact of the matter is, to make any real money off of this will require an investment of time and money. It will also take some hard work, and research to make sure you have everything in order. You can build your own mining machine, the question is should you?
Think of the impact on your electricity bill and how much you will need to make to overcome that and by how much? %10? 20%? Think of what your bill is now, add onto that 20% increase for the cost of electricity. That is what you need to make to break even on electric alone. Now what did it cost you to build the miner and overclock the gpus? It adds up fast. On top of that your environmental footprint will expand and the room you put your miner in will heat up. GPUs are hot folks, they suck a lot of power.
So if you are looking for a fast way to make a lot of money, this is not it. You would make more money, and do it faster by working at McDonalds for minimum wage.