How long to earn fractions of bitcoin

I started mining today, and I'm using the bitcoin GUI miner, along with rpc2013-cuda. I'm running algorithms on the CPU(completely maxed out - It's a core i7 quad-core/Hyperthreaded at 2.3GHz) and the GPU(98% Load - GT 650M at 1GHz Core/ 2GHz Memory don't Know the shader speed. I think it is the same as core) and got no share of bitcoins so far. How much do you guys think that i'll be able to get a fraction of a bitcoin. I say fraction because I'm mining in a pool. That is Eligius. Should I start to mine in another pool? Maybe forget about CPU/GPU mining and try to buys a FPGA or dedicated miner?

edit 1: On total I'm having a hashRate of 40MHash/s

Pedro

Posted 2014-01-18T14:18:33.070

Reputation: 13

Answers

At the current difficulty, it would take you about 100 years to earn Eligius' minimum payout of .04 BTC. Of course, in that time period the difficulty would increase and the block reward would drop. So you would almost certainly never earn the minimum payout at that hash rate.

Of course, your electricity cost would be many times the value of the Bitcoins you would mine. By my rough math, you're wasting about $10/month, if the computer would otherwise be off.

It hasn't made any sense to mine Bitcoins with a CPU in more than a year now.

David Schwartz

Posted 2014-01-18T14:18:33.070

Reputation: 46 931

It depends by the machine, of course, but keep in mind that difficulty changes as time goes on. You should look at that specific index in order to aknowledge it correctly. By now, it takes about 1 year to get 1 BTC with your hardware, supposing no difficulty increases. I do advise you to mine other currencies (BTB or others) and then convert them into BTC... that's easier this way!

Zanfronio

Posted 2014-01-18T14:18:33.070

Reputation: 156

Do you have any tutorials on how to mine say, litecoin or BTB? Thanks by the way :) – Pedro – 2014-01-18T14:42:14.397

I don't have any video tutorial (am not a youtuber ;) )... you may start from here: http://btb.pnwminer.com/index.php?page=gettingstarted and follow the instructions... One tip: BitBars do not comply with SHA256 algorithm (for BTC), but use another algo, called Scrypt; so, you'll need a proper miner, like "minerd" (CPU) or "cgminer" (GPU), the latter started with "--scrypt" on the command line. Do not hesitate messaging me for further help! :)

– Zanfronio – 2014-01-24T22:34:32.880