<p>Question in title: similar to how profitable it is now.</p>

<p>The numbers he is giving you don't seem unlikely. Using the Bitcoin price of those days he probably could have gotten more Bitcoins than 31 by simply straight up buying them instead of the graphics cards. And if he accurately accounts for the electricity costs it was probably not profitable at all.</p>

<p>His luck (and the reason you are asking this question now) came when the price of Bitcoin went up.</p>

<blockquote>
  <p>because he was in a "hard to access" mining pool.</p>
</blockquote>

<p>That sounds like a bit of a misunderstanding tbh.</p>

CC BY-SA 3.0
2016-02-12T15:01:11.853Z
This answer could be improved by explicitly addressing the plausibility of mining a number of bitcoins with GPU mining then. The value of 31 bitcoins then doesn't seem to be the central issue of the askers question. (Although I may have made it look that way, by editing the title.)
Murch
CC BY-SA 3.0
2016-02-13T08:54:12.777Z
@NickODell I said the opposite of implausible: not unlikely.
Jannes
CC BY-SA 3.0
2016-02-13T09:00:18.047Z
@Murch sounded to me the OP didn't believe his friend statement, as 31 BTC sounds like a lot of money today. Back then however 31 BTC wasn't that much and probably worth less than the 2 GPUs+electricity used. And therefore it sounds very plausible his friend is talking the truth.
Jannes
CC BY-SA 3.0
2016-02-12T14:37:37.220Z
2016-02-12T14:37:37.220Z
Jannes
<p>I am not interested in mining myself, I just want to know how true my friend's claims are since Bitcoin is a subject that I try to follow and understand.</p>

<p>He says he mined 31 bitcoins in 7 months using 2 gtx 460 in a regular gaming PC. This supposedly happened around 2011-2012. I told him this sounded like too much to me and he says it was possible because he was in a "hard to access" mining pool.</p>

<p>So, I just want to know if these numbers are remotely possible. My limited knowledge and the browsing I have done says it's too much but, of course, I could be wrong.</p>

<p>What do you guys think? Thanks.</p>

<mining-profitability><gpu-mining>
How profitable was GPU mining in 2011-12?
GarethDun
# How profitable was GPU mining in 2011-12?

(Asked by: username_0 on 2016-02-12)

I am not interested in mining myself, I just want to know how true my friend's claims are since Bitcoin is a subject that I try to follow and understand.

He says he mined 31 bitcoins in 7 months using 2 gtx 460 in a regular gaming PC. This supposedly happened around 2011-2012. I told him this sounded like too much to me and he says it was possible because he was in a "hard to access" mining pool.

So, I just want to know if these numbers are remotely possible. My limited knowledge and the browsing I have done says it's too much but, of course, I could be wrong.

What do you guys think? Thanks.

**Tags:** mining-profitability, gpu-mining


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## 1 answers

### Answer by username_1 on 2016-02-12. Score: 1

Question in title: similar to how profitable it is now.

The numbers he is giving you don't seem unlikely. Using the Bitcoin price of those days he probably could have gotten more Bitcoins than 31 by simply straight up buying them instead of the graphics cards. And if he accurately accounts for the electricity costs it was probably not profitable at all.

His luck (and the reason you are asking this question now) came when the price of Bitcoin went up.

> because he was in a "hard to access" mining pool.

That sounds like a bit of a misunderstanding tbh.

> **Comments:**
> **username_2**: This answer could be improved by explicitly addressing the plausibility of mining a number of bitcoins with GPU mining then. The value of 31 bitcoins then doesn't seem to be the central issue of the askers question. (Although I may have made it look that way, by editing the title.)  
> **username_1**: @NickODell I said the opposite of implausible: not unlikely.  
> **username_1**: @username_2 sounded to me the OP didn't believe his friend statement, as 31 BTC sounds like a lot of money today. Back then however 31 BTC wasn't that much and probably worth less than the 2 GPUs+electricity used. And therefore it sounds very plausible his friend is talking the truth.  

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