Best Miners for newbies | Bitcointalksearch.org

driver

member

Activity: 60

Merit: 10

Quote from: young3dvard on December 13, 2013, 06:16:43 PM

Quote from: driver on December 12, 2013, 06:46:30 PM

Quote from: jchi18 on December 12, 2013, 05:30:26 PM

I don't think newbies should consider mining bitcoin. The competition is too hard. Maybe mine an altcoin and convert to bitcoin? That is what I am doing now.

I tried to buy some Linden on second life and then trade that off for bitcoin on Virwox . What a pain in arse that was . Second life is some kind of video game world . you had to open an account there and one with this exchange and link them . Then go into the game world to a atm machine and get a code . buy their currency and then send it to virwox and exchange it for what ever you want . Never did figure out how to find that ATM machine .

I even didnt try buy the Lindens after I read their warnings all Lindens should be used in game only and could be confiscated.. (or something like this)

After many hours of BS I finally tried an experiment and went to virwox . Funded with paypal . Only 80.00 allowed . Cost 3 bucks to do it . bought linden . 76.00 . Sold linden for BTC got 0.077 BTC . transfered to scam house , I mean coinbase. Am now waiting for the price to up over 900 and will sell the .077 and see how much I profit . Am hoping for 1 or 2 dollars .
Meanwhile I am waiting for it to also drop to around 700.00 for btc and then I am going to buy 1 and wait for it to go up some and sell . But unfortunately coinbase has a crappy business model and even worse customer service so it will take about 3 days to get my coin so I can sell it . ID verification for instant buy does not work and customer service will not do anything or even respond to your request more than once and that is jsut to put you off with BS . I would never trust these people with a lot of money for more than a few minutes if possible .

arkintunde

newbie

Activity: 32

Merit: 0

Quote from: pompiedom on December 13, 2013, 08:43:56 PM

And even when the block reward has reached 0 you still earn the transaction fees included in the blocks right? If the BTC usage grows the reward might still be interesting.

Exactly. There will always be an incentive for miners.

pompiedom

newbie

Activity: 4

Merit: 0

And even when the block reward has reached 0 you still earn the transaction fees included in the blocks right? If the BTC usage grows the reward might still be interesting.

Dekker

newbie

Activity: 2

Merit: 0

75% just out of interest 25% maybe I could earn some of the money back Wink

arkintunde

newbie

Activity: 32

Merit: 0

Quote from: driver on December 13, 2013, 06:09:34 PM

Personally I would think that bitcoin is almost done with . I think half the coins are already mined and that would probably be down to almost none by the end of the year with all these high power miners hitting the market . these companies are just playing it out to the end . They are mining like crazy and know it almost over so they are selling all the miners they can before it is too late so their profits can be maximized .
I am still thinking of a 400GH/s miner and use it for bitcoin to pay it off then for others to make money and hope their values go up as bitcoin crashes in the dirt when there are none left to mine . Bitcoin can not ever be a main currency because it is far too hard to purchase one and most people would never go through the BS it takes to do it .

1. Bitcoin won't crash in the dirt when there are no more left to mine nor when it becomes too difficult to reasonably mine for the block reward.
2. Bitcoin won't be fully mined by next year nor the year after that...the last estimate I read about was 2032, but then again, it was designed to be fully mined by 2140 wasn't it?

It's a huge risk to get into Bitcoin mining if all you are doing it for is the money.

yessine

member

Activity: 72

Merit: 10

i think it's better to mine litecoin and some coins lite that and exchange them directly
you can do a good profit with just a GPU
bettet then getting involved in very hard war like bitcoin mining

young3dvard

full member

Activity: 193

Merit: 100

Quote from: driver on December 12, 2013, 06:46:30 PM

Quote from: jchi18 on December 12, 2013, 05:30:26 PM

I don't think newbies should consider mining bitcoin. The competition is too hard. Maybe mine an altcoin and convert to bitcoin? That is what I am doing now.

I tried to buy some Linden on second life and then trade that off for bitcoin on Virwox . What a pain in arse that was . Second life is some kind of video game world . you had to open an account there and one with this exchange and link them . Then go into the game world to a atm machine and get a code . buy their currency and then send it to virwox and exchange it for what ever you want . Never did figure out how to find that ATM machine .

I even didnt try buy the Lindens after I read their warnings all Lindens should be used in game only and could be confiscated.. (or something like this)

driver

member

Activity: 60

Merit: 10

Personally I would think that bitcoin is almost done with . I think half the coins are already mined and that would probably be down to almost none by the end of the year with all these high power miners hitting the market . these companies are just playing it out to the end . They are mining like crazy and know it almost over so they are selling all the miners they can before it is too late so their profits can be maximized .
I am still thinking of a 400GH/s miner and use it for bitcoin to pay it off then for others to make money and hope their values go up as bitcoin crashes in the dirt when there are none left to mine . Bitcoin can not ever be a main currency because it is far too hard to purchase one and most people would never go through the BS it takes to do it .

Septimus

newbie

Activity: 51

Merit: 0

Quote from: bitcoinCUkid on December 12, 2013, 06:59:02 PM

It will probably cost too much for a newbie to start mining now. I don't think you'll get a high enough ROI for it to be worth it.

I second this. I'm new to the mining game, and every opportunity I've seen so far has either slammed a door in my face or offered me candy and invited me into the heavily tinted minivan. I'm not impressed with many of the companies and offers out there so far. As tempting as it is to basically create your own money, it's easier right now to just trade the damn stuff. There may still be some profits in GPU mining for altcoins, but even those are getting slim now. Gonna have to hope for some major changes in Bitcoin values to make mining worthwhile.

b1rdex

newbie

Activity: 5

Merit: 0

Quote from: bitcoinCUkid on December 12, 2013, 06:59:02 PM

It will probably cost too much for a newbie to start mining now. I don't think you'll get a high enough ROI for it to be worth it.

It's true in case of Bitcoin. But thereare many forks with reasonable difficulty to start mining. Plus for now new several forks appear every week.

techstudio

newbie

Activity: 2

Merit: 0

I second bitminter. it was what got me into the mining culture. now i use coinex for a majority of altcoins and ypool for XPM.

bitcoinCUkid

newbie

Activity: 5

Merit: 0

It will probably cost too much for a newbie to start mining now. I don't think you'll get a high enough ROI for it to be worth it.

driver

member

Activity: 60

Merit: 10

Quote from: jchi18 on December 12, 2013, 05:30:26 PM

I don't think newbies should consider mining bitcoin. The competition is too hard. Maybe mine an altcoin and convert to bitcoin? That is what I am doing now.

I tried to buy some Linden on second life and then trade that off for bitcoin on Virwox . What a pain in arse that was . Second life is some kind of video game world . you had to open an account there and one with this exchange and link them . Then go into the game world to a atm machine and get a code . buy their currency and then send it to virwox and exchange it for what ever you want . Never did figure out how to find that ATM machine .

jchi18

member

Activity: 88

Merit: 10

I don't think newbies should consider mining bitcoin. The competition is too hard. Maybe mine an altcoin and convert to bitcoin? That is what I am doing now.

gooki

newbie

Activity: 18

Merit: 0

A lot of you mention trading. The problem with trading is that you have to actually know what you're doing with trading. Its no different than trading on traditional currency markets. Noobs usually loose tier pants in currency trading. So just because you're trading bitcoin and not euros it does not mean it's any easier. Mining on the other hand is pretty a rather easy enterprise.

jones31

newbie

Activity: 28

Merit: 0

Quote from: driver on December 12, 2013, 03:33:52 PM

Quote from: aeddan1 on December 11, 2013, 06:48:09 PM

Why not do cloud mining? That way you don't have to pay for electricity.

Well cloudhashing boasts an incredible 4 - 20 GH/s for 275 - 950 a year . worthless as far as I am concerned . What could you possibly gain with 20GH/s ?
Minercloud has 1 5 GH/s totaly useless at any price

There are a lot of ~~idiots~~ customers who think that 50usd/GH is good because they can't afford a miner which costs 2000.
Instead of going for a group buy , they end up buying those pieces of garbage.

driver

member

Activity: 60

Merit: 10

Quote from: aeddan1 on December 11, 2013, 06:48:09 PM

Why not do cloud mining? That way you don't have to pay for electricity.

Well cloudhashing boasts an incredible 4 - 20 GH/s for 275 - 950 a year . worthless as far as I am concerned . What could you possibly gain with 20GH/s ?
Minercloud has 1 5 GH/s totaly useless at any price

Open4lies

sr. member

Activity: 552

Merit: 250

Quote from: qosmio on December 12, 2013, 11:24:31 AM

And ordered and paid for a bfl 50gh miner on black Friday. Hope I get it soon.

I would not hope too much, I waited half year for mine before delivered.

qosmio

full member

Activity: 147

Merit: 100

And ordered and paid for a bfl 50gh miner on black Friday. Hope I get it soon.

Septimus

newbie

Activity: 51

Merit: 0

Quote from: jones31 on December 12, 2013, 10:39:21 AM

Whats did you say there?
Stick with an established company like........BFL? Huh

?

I was wondering why this was stated myself. Proceed with caution when buying from Butterfly Labs, they have about the same speed as a butterfly when it comes to delivery...unless they've done some major changes since then.

Topic: Best Miners for newbies (Read 1916 times)