Gadgetory

hey guys sawsan this computer is making me money right now well that might sound like some scummy pop up ad in reality it's all thanks to crypto mining you've probably heard of crypto currencies such as Bitcoin and litecoin these are digital currencies that are worth real-world money for example a single Bitcoin goes for about 2400 dollars right now this has become a really big industry not only has Bitcoin been recognized as legal currency and places like Japan but you can spin Bitcoin a lot of online retailers such as Microsoft playing games on Steam you can even purchase things with PayPal using Bitcoin it is a big deal for example if you fire up a mining program on your computer it will immediately start crunching the numbers on different transactions that come it's way as a reward for doing all that hard work you'll gain tiny tiny amounts of cryptocurrency typically this doesn't really equal much however it's things like Bitcoin become more more valuable it can actually add up there are two different ways of getting your hands on crypto currencies such as Bitcoin the first is really straightforward you can buy and sell them just like anything else so the market will go up and down and it does that a lot but the theory is you buy them for cheap to sell for more and you make a profit just like the stock market the other is by mining so every transaction is public so what that means is that some computer has to do the work of deciding that hey someone has money it need to go the other person make sure that's a legit transaction in the early days you could use an ordinary gaming PC to mine Bitcoin but it's gotten more popular and more importantly there's more competition for mining it is pretty crazy to use a standard game PC to mine Bitcoin today there has been other cryptocurrencies that have sprung up over the years so back in 2013 I had a few different litecoin mining rigs set up and generally speaking if you have a PC with a solid GPU you can make that work however the issue is as things get more and more popular people design work called Asics which are literally custom design chips that are purely made to destroy a PC at mining today though crypto mining has seen a major resurgence and a lot of that is thanks to a new option called aetherium now this is something that actually does make sense to mine on a standard gaming PC so we've been using the CyberPower PC that we did a video on recently which actually is now down to $650 which is kind of funny because thanks to crypto mining even the graphics card itself sometimes we'll go for $650 generally speaking higher-end Andy cards like the rx 580 that's inside is going to be your for crypto mining and video options also do work pretty well too if you have a lower end card that's maybe a little bit older it's going to draw a lot of power you want to try mining on the CPU it's generally not going to be worth it Crypton mining really is all about the GPU the actual setup for mining is surprisingly straightforward a lot better than it used to be so you just need three things a PC to do your mining a Bitcoin wallet and a mining program there are lots of options for creating a wallet but I use coinbase not only is it fairly simple as they do pretty much all the work for you but not only can you buy Bitcoin but more importantly you can sell them or just spend them for the mining program a really easy option is to use nice hash so this one's a normal Windows app and all you do is let it do its initial setup give it your Bitcoin wallet address and it handled everything else from there nice hash does take 3% of everything that you mine then returned it's a completely automatic setup so if you're not super familiar with this stuff it works pretty well and it's even smart enough to automatically pick between different algorithms based on what's going to be most profitable the cool thing is since this is just a normal Windows program you can mine whenever you want so say you want to actually play some games on your gaming PC just about mining for a few minutes once you're done turn it back on so I'm about to throw some numbers at you guys but please take all of these with a giant grain of salt let's can go way up and wait I'm pretty much at any point so right now with this set up over the last few days it's average making about two dollars and ten cents a day so of course you do have to keep the electricity bill in mind so with this system and the electricity rates here it's fully about 25 cents worth of power a day that might not sound like much but when you add it up that's about 57 dollars a month or about six hundred and ninety dollars a year which is actually enough to pay for the entire system but and there's a giant but this changes all the time seriously so just today as we've been filming this video prices have changed a lot so earlier this morning we're making about a dollar ninety day however right now we're doing about two thousand thirty one cents in mining it really does change on an almost hourly basis all this is just an example with this single graphics card inside the system so you have a really beefy system let's say a pair of 1080 eyes you could be making a lot more money on the other hand if you have an older grabbe's card it might not even make sense to my in the first place so there is a cool calculator I have that linked in the description we can plug in what your hardware is it will tell you roughly about how much you would make per day what doesn't really make sense is going on buying a bunch of hardware just to start mining so this is actually made graphic cards not only out of stock in a lot of places almost more important than that really really expensive what I think makes a little bit more sense is if you already have a gaming PC and you just want to give this a try it is kind of fun I'm thinking need to keep in mind though is that this is going to be essentially running your GPU at 100% 24/7 it's not necessarily going to immediately break or anything but we'll definitely shorten the life span of your card this definitely isn't for everyone but as a nerd there is something kind of fun about this so what do you guys think about mining cryptocurrency let me know in the comments below and I will catch you on the next one