Multipools are not good enough to make profit.
If you've 3-5 mBTC try to catch the new ann of altcoins, and rent rig & mine. When it hits into an exchange sell them.
You can use betarigs but nicehash is better choice to rent rigs (lower prices).
Ps: nicehash requires min 10 mbtc to rent a rig.
Topic: A Simple guide for newbs to make BTC! (Read 812 times)
Is it really profitable to mine with multipool, especially with such small investment? I've seen people with dedicated mining rigs complaining about low earnings and I'm pretty sure they're investing more than 0.005 of mining power each day.
How could it not be profitable OP promises "100's maybe even thousands at some point down the road." if I follow this. But personally I agree most of time going from faucet pay to rental on multipool is a loss. The miners normally want more to rent then a multipool pays.
And I still have yet to see any documentation showing mining to excange is a good idea. I think it's a bad practice. But again that is my opinion.
I do think OP had good intentions. Just not the best executed plan.
Is it really profitable to mine with multipool, especially with such small investment? I've seen people with dedicated mining rigs complaining about low earnings and I'm pretty sure they're investing more than 0.005 of mining power each day.
You just find some reff here 
and then i scanned your faucet website: https://www.virustotal.com/id/url/2ed69d12bd281b45461b27dedcafe75711e925c3da14078f30e828cbeae459f7/analysis/
and then you recommended to use cloud mining, too risky.
~iki
and then i scanned your faucet website: https://www.virustotal.com/id/url/2ed69d12bd281b45461b27dedcafe75711e925c3da14078f30e828cbeae459f7/analysis/ and then you recommended to use cloud mining, too risky.
~iki
Whoa, Thanks for point that out. I never thought to scan the site. I found it through google searches and it just had tons of good high paying faucets.
....You use the exchange to turn the Doge/lite coins into btc....It saves you the trouble of having to find someone on the forum, and you can set it to automatically exchange them into btc, so it's fairly hands free. Yes there is a referral link, Do i not deserve some sort of credit for assisting new members / new bitcoin users ?. I believe i am. Especially if it's a stepping stone into making alot of BTC.
The more coins you mine, The more btc you can make, then you can rent bigger rigs, and get way more coins..then eventually you'd be making 100's maybe even thousands at some point down the road.
Also, I'm only saying they should store their Altcoins ( Doge/Lite ) on the exchange. By all means, send all your btc to your personal wallet.
They do charge a 0.001 fee for withdrawing BTC. So as long as you're withdrawing more than that it gets sent immediately and shows up after a few confirmations.
It is very hard to even make even 0.001 in a month for faucets. I'm a bit skeptical about your process since faucets tends to generate only small amount of income and betarigs have really overpriced miners for rent. The cost of most of them would be more than what you can earn from an multipool. If not, it makes no sense for one to rent their rigs instead of mining for themselves.The more coins you mine, The more btc you can make, then you can rent bigger rigs, and get way more coins..then eventually you'd be making 100's maybe even thousands at some point down the road.
Also, I'm only saying they should store their Altcoins ( Doge/Lite ) on the exchange. By all means, send all your btc to your personal wallet.
They do charge a 0.001 fee for withdrawing BTC. So as long as you're withdrawing more than that it gets sent immediately and shows up after a few confirmations.
I think he had good intentions. But it is not a guide I would tell someone to follow. To get a dollar a day on faucets.... is hard to believe they pay horrible. And he's talking about a few dollars turning into "100's maybe even thousands at some point down the road. " It's a little to much for me to believe.
I think his main thing of this guide was to get people to trade on cryptsy under his referral. I brought up how I think it's a horrible idea to mine straight to a exchange. I asked him for documentation showing this is recommended as I have always been told and read never mine straight to a exchange. Still waiting to see documentation on this.
You just find some reff here and then i scanned your faucet website: https://www.virustotal.com/id/url/2ed69d12bd281b45461b27dedcafe75711e925c3da14078f30e828cbeae459f7/analysis/
and then you recommended to use cloud mining, too risky.
~iki
and then i scanned your faucet website: https://www.virustotal.com/id/url/2ed69d12bd281b45461b27dedcafe75711e925c3da14078f30e828cbeae459f7/analysis/ and then you recommended to use cloud mining, too risky.
~iki
....You use the exchange to turn the Doge/lite coins into btc....It saves you the trouble of having to find someone on the forum, and you can set it to automatically exchange them into btc, so it's fairly hands free. Yes there is a referral link, Do i not deserve some sort of credit for assisting new members / new bitcoin users ?. I believe i am. Especially if it's a stepping stone into making alot of BTC.
The more coins you mine, The more btc you can make, then you can rent bigger rigs, and get way more coins..then eventually you'd be making 100's maybe even thousands at some point down the road.
Also, I'm only saying they should store their Altcoins ( Doge/Lite ) on the exchange. By all means, send all your btc to your personal wallet.
They do charge a 0.001 fee for withdrawing BTC. So as long as you're withdrawing more than that it gets sent immediately and shows up after a few confirmations.
It is very hard to even make even 0.001 in a month for faucets. I'm a bit skeptical about your process since faucets tends to generate only small amount of income and betarigs have really overpriced miners for rent. The cost of most of them would be more than what you can earn from an multipool. If not, it makes no sense for one to rent their rigs instead of mining for themselves. The more coins you mine, The more btc you can make, then you can rent bigger rigs, and get way more coins..then eventually you'd be making 100's maybe even thousands at some point down the road.
Also, I'm only saying they should store their Altcoins ( Doge/Lite ) on the exchange. By all means, send all your btc to your personal wallet.
They do charge a 0.001 fee for withdrawing BTC. So as long as you're withdrawing more than that it gets sent immediately and shows up after a few confirmations.
This has helped alot of people to grow their wallets.
....You use the exchange to turn the Doge/lite coins into btc....It saves you the trouble of having to find someone on the forum, and you can set it to automatically exchange them into btc, so it's fairly hands free. Yes there is a referral link, Do i not deserve some sort of credit for assisting new members / new bitcoin users ?. I believe i am. Especially if it's a stepping stone into making alot of BTC.
The more coins you mine, The more btc you can make, then you can rent bigger rigs, and get way more coins..then eventually you'd be making 100's maybe even thousands at some point down the road.
Also, I'm only saying they should store their Altcoins ( Doge/Lite ) on the exchange. By all means, send all your btc to your personal wallet.
They do charge a 0.001 fee for withdrawing BTC. So as long as you're withdrawing more than that it gets sent immediately and shows up after a few confirmations.
The more coins you mine, The more btc you can make, then you can rent bigger rigs, and get way more coins..then eventually you'd be making 100's maybe even thousands at some point down the road.
Also, I'm only saying they should store their Altcoins ( Doge/Lite ) on the exchange. By all means, send all your btc to your personal wallet.
They do charge a 0.001 fee for withdrawing BTC. So as long as you're withdrawing more than that it gets sent immediately and shows up after a few confirmations.
I think you do have good intentions. But mining directly to a exchange is not the best practice to do. Most would suggest mining to a regular wallet and go from there to exchange when you need to. Can you show any documentation saying mining to a exchange is a good idea?
I guess you now have about referral link at bottom I'm not sure if i overlooked it or you added it. Most proper thing to do would have referral link and non referral link, not small text about it at bottom. And it's not accurate saying just allows you to vote. Crypts points can be sold for BTC. *It's now blue and a little bigger but if someone follows guide they won't see it till after signing up.
I'm not going to go off thread any more. Best of luck to you.
....You use the exchange to turn the Doge/lite coins into btc....It saves you the trouble of having to find someone on the forum, and you can set it to automatically exchange them into btc, so it's fairly hands free. Yes there is a referral link, Do i not deserve some sort of credit for assisting new members / new bitcoin users ?. I believe i am. Especially if it's a stepping stone into making alot of BTC.
The more coins you mine, The more btc you can make, then you can rent bigger rigs, and get way more coins..then eventually you'd be making 100's maybe even thousands at some point down the road.
Also, I'm only saying they should store their Altcoins ( Doge/Lite ) on the exchange. By all means, send all your btc to your personal wallet.
They do charge a 0.001 fee for withdrawing BTC. So as long as you're withdrawing more than that it gets sent immediately and shows up after a few confirmations.
The more coins you mine, The more btc you can make, then you can rent bigger rigs, and get way more coins..then eventually you'd be making 100's maybe even thousands at some point down the road.
Also, I'm only saying they should store their Altcoins ( Doge/Lite ) on the exchange. By all means, send all your btc to your personal wallet.
They do charge a 0.001 fee for withdrawing BTC. So as long as you're withdrawing more than that it gets sent immediately and shows up after a few confirmations.
Step 2 has a hidden referral code. This is why he is telling you to store in a hot wallet on a exchange.
But if you do it use a wallet not on a exchange. You might not need cold storage with dealing with so little. But keeping on exchange is just horrible practice.
But if you do it use a wallet not on a exchange. You might not need cold storage with dealing with so little. But keeping on exchange is just horrible practice.
So, i'm gonna go ahead and give a few tips i've picked up on how to go from no bitcoin, to making a steady flow of bitcoins.
This won't yield alot of money unless you can afford to buy bitcoins, Otherwise, it'll get you about a dollar a day once you get further along in the process.
WARNING : THIS WILL TAKE A COUPLE DAYS TO ACTUALLY SEE YOUR WALLET GROWING.
Took me about 3 1/2 days.
Step 1. Get a Wallet ( Duh )
Step 2. Register here : Cryptsy : Your complete bitcoin and digital currency exchange!
Step 3. Create a Wallet for Litecoins, BTC, And Dogecoins on Crypsty.
Step 4. Now use THESE Faucets to get free coins every 60,30,15,10,5 minutes. Tons to choose from.
The best ones i personally think are the litecoin and doge coin, since you get so many from the faucets and the cashing out is alot faster
MAKE SURE YOU ARE USING YOUR CRYPTSY WALLET FOR DOGE AND LITE COIN, USE YOUR REGULAR WALLET FOR SATOSHIS!.
I reccomend using all of the Faucetbox.com Faucets. They yield a good amount and you have to save them up before it lets you cash out. ( Alot of these faucets will. )
Step 5. After you get your first few deposits into your crypsty account you can place those amounts up for sale. ( Doing several smaller transactions wastes time and coins )
Step 6. Once you get about 0.005 Btc then the real profits begin.
Step 7. www.multipool.us <---------- Register here. and here ------------------> https://www.betarigs.com/
Step 8. Betarigs is a cloud mining service where people rent out there miners for a hourly, daily, weekly price. Your going to need at least 0.003-0.005 to actually profit something decent. Search through the Scrypt or X11 Miners ( These ones yield the highest on multipool )
Connect your miner to Multipool's server and go take a nap, go to work.. Do something that's gonna take up alot of time.
You can do withdrawls on every coin you mine as soon as it's confirmed. But it's smarter to wait, save up those coins, and send them to cryptsy to maximize your sale price.
SAFETY TIP : MAKE SURE YOU ARE DEPOSITING YOUR EARNED BTC FROM CRYPTSY INTO YOUR PERSONAL WALLETS. ONLY STORE ALTCOINS (Anything non BTC) ON THE EXCHANGE.
Step 9. BOOM, NOW YOUR CLOUD MINING, AND MAKING A STEADY PROFIT OF BITCOINS. Make sure to always keep a minimum amount of BTC for renting mining rigs from Betarigs.com
This won't yield alot of money unless you can afford to buy bitcoins, Otherwise, it'll get you about a dollar a day once you get further along in the process.
WARNING : THIS WILL TAKE A COUPLE DAYS TO ACTUALLY SEE YOUR WALLET GROWING.
Took me about 3 1/2 days.
Step 1. Get a Wallet ( Duh )
Step 2. Register here : Cryptsy : Your complete bitcoin and digital currency exchange!
Step 3. Create a Wallet for Litecoins, BTC, And Dogecoins on Crypsty.
Step 4. Now use THESE Faucets to get free coins every 60,30,15,10,5 minutes. Tons to choose from.
The best ones i personally think are the litecoin and doge coin, since you get so many from the faucets and the cashing out is alot faster
MAKE SURE YOU ARE USING YOUR CRYPTSY WALLET FOR DOGE AND LITE COIN, USE YOUR REGULAR WALLET FOR SATOSHIS!.
I reccomend using all of the Faucetbox.com Faucets. They yield a good amount and you have to save them up before it lets you cash out. ( Alot of these faucets will. )
Step 5. After you get your first few deposits into your crypsty account you can place those amounts up for sale. ( Doing several smaller transactions wastes time and coins )
Step 6. Once you get about 0.005 Btc then the real profits begin.
Step 7. www.multipool.us <---------- Register here. and here ------------------> https://www.betarigs.com/
Step 8. Betarigs is a cloud mining service where people rent out there miners for a hourly, daily, weekly price. Your going to need at least 0.003-0.005 to actually profit something decent. Search through the Scrypt or X11 Miners ( These ones yield the highest on multipool )
Connect your miner to Multipool's server and go take a nap, go to work.. Do something that's gonna take up alot of time.
You can do withdrawls on every coin you mine as soon as it's confirmed. But it's smarter to wait, save up those coins, and send them to cryptsy to maximize your sale price.
SAFETY TIP : MAKE SURE YOU ARE DEPOSITING YOUR EARNED BTC FROM CRYPTSY INTO YOUR PERSONAL WALLETS. ONLY STORE ALTCOINS (Anything non BTC) ON THE EXCHANGE.
Step 9. BOOM, NOW YOUR CLOUD MINING, AND MAKING A STEADY PROFIT OF BITCOINS. Make sure to always keep a minimum amount of BTC for renting mining rigs from Betarigs.com
There is a ref link in step 2. All i gain is Crypsty points that allow me to vote in contests. https://www.cryptsy.com/users/cryptsypoints
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