Topic: Best wallet - Fast BTC - Fast $ Transfer - Fast resieve ? (Read 1116 times)

Dear wintermeasures

thanks you r right ..

Actually most of the questions you've been there, but no problem I've also become a newbie too.

First question :
1- First to gain BTC you must have a wallet, what is the best wallet? because most people use blockchains wallet, so I recommend using an online wallet from blockchains
Second question :
2- I have an idea: to make two wallets one for store the amount and one for exchange and play with it and after gain BTC transfer to the safer wallet "first one", is this right idea? I think that is nice idea, but I suggest for first wallet use pc wallet. You can download from bitcoin.com https://www.bitcoin.com/choose-your-wallet
Third question :
3- What is the fast way to transfer the BTC to US Dollar $$ ? You can use  changer.com to exchange bitcoin to usd perfect money. But you have to make a perfect money account first. https://www.changer.com/
Fourth question :
4- What is the fast way to have this $$$ as a bank note? you can WD your $$ from perfect money to your local bank if
available.
Fifth question :
5- From my point of view, the mining hardware is the fast, easy and secure way to build BTC's if I want to generate only 20BTC/month what is the cheap hardware I have to obtain to reach this amount? I don't have any idea for mining, but you can get help by go to this section https://bitcointalk.org/index.php?board=14.0

thank you, correct me if im wrong.

Sure Danny you are right.. i just need to share i way of calc. cause am new in BTC

thanks a lot

Yes.  That looks correct.

So, according to that output, you will get 0.37272247 BTC per month with 4.73 Th/s (JUST ONE AntMiner S7).

If you want 20 BTC per month, then you will need:

20 BTC / 0.37272247 BTC per AntMiner = 53.659 AntMiner.

Each AntMiner S7 is 4.73 Th/s, so that's the

53.659 AntMiner * 4.73 Th/s per AntMiner = 253.81 Th/s

There's that 253.81 Th/s that I mentioned in my post.

Since you can't buy 0.659 AntMiner, you'll have to buy 54 of them.

So it all matches up with the numbers I already gave you.

Dear DannyHamilton

thanks for your accurate information.


How did you calculate this amount "253.81 terahash per second"?

- but let me recheck again with you this case :
am using this website to calculate the amount monthly for me
https://alloscomp.com/bitcoin/calculator
if I have JUST ONE AntMiner S7 will generate about 4.73 Th/s  ---> I will gain :

per Day   0.01224550 BTC        $5.44
per Week   0.08571852 BTC        $38.09
per Month   0.37272247 BTC        $165.61

is it right output or not?

thanks

That's like asking "What is the best vehicle?"

Each wallet is best for it's specific purpose.  You'll need to learn what the features and restrictions are on various wallets and then choose for yourself the one that is best for you.

If you don't want to do that, just install Electrum.  It's isn't horrible.


Sure.  if that's what you want to do, then that will work fine.


Register for an online bitcoin exchange (such as Bitstamp, Coinbase, BitFinex, or whatever exchange you have access to in your country), or find someone near you with localbitcoins.com that will exchange with you.


If you are using an online exchange, then you can transfer to your bank and use an ATM.

If you are using localbitcoins, then you can just accept bank notes directly from the person you are exchanging with.


20 BTC per month?

To do that today you'd need about 253.81 terahash per second.

An AntMiner S7 will generate about 4.73 Th/s, so you'll need about 54 of them.  I think they cost about $600 each, so that should cost you about $32400 to purchase.

Then you'll need to pay for the electricity to run them. Each unit will use about 1200 Watts, so if you run all 54 of them continuously you'll use about 47336 kWh of electricity per month.

If your electricity costs you $0.12 per kWh, that will be about $5680 per month in electricity costs.

Keep in mind though two VERY IMPORTANT facts:

• If other people add mining equipment and hash power to the bitcoin network then difficulty will go up and you will get less than 20 BTC per month unless you add more equipment too. (Difficulty re-adjsusts every 2016 blocks)
• In early July, the block subsidy will be cut in half from 25 BTC per block to 12.5 BTC per block. If a lot of people continue to leave their equipment running, then your revenue will be significantly reduced at that time

Dears, thanks for all.

Dear avatar_kiyoshi,


- Bank note means dollar in paper "cash".
- After a search mining is the best and fast way to generate BTC ,my small project now is to generate 5BTC/month cause I know that 20BTC is very hard, do u have any idea how to reach this amount monthly.


Dear knightkon,

Sorry for that but I need new and fresh data more threads here from 2011 and I think it must be updated.


Thanks for rphk,Pursuer,Velkro and adibe

1.  Choose you wallet here: https://bitcoin.org/en/choose-your-wallet
I used electrum for my desktop wallet, it's safe and the security system is good enough to avoid a hacking/malware.
2. That's good idea, but use safe wallet too, even for your daily spend/ for gain your BTC.
3. That's some exchange site which legit to use, like kraken, coinsbank or ect.
4. As bank note? I'm not really understand
5. It's hard to mining bitcoin nowadays, you need free electric bills, more power and it's not cheap as you think.

my suggestion is blackchain is the  good wallet .BTC to USD conversion not sure , may there are so many currency exchange sites , need check which is legit by through reveiw & comments  and then better to  choose.

welcome. read this: https://bitcoin.org/en/getting-started


https://bitcoin.org/en/choose-your-wallet
my suggestions:
for full node (it will take up a lot of space on your HDD): bitcoin core, armory
for SPV wallet (takes less space read more on wiki): Electrum
web wallet (least security but most handy so keep small amounts): coinbase, blockchain.info

best wallet is a cold storage: https://en.bitcoin.it/wiki/Cold_storage


I don't know what you mean "one for exchange"
you can have as many wallets as you want and as many bitcoin addresses as you want. I think you should read more about how bitcoin works.


use an exchanger or a service like coinbase.com, circle.com


not sure!


you will also need very cheap electricity. I am not an expert in mining so I am not gonna say anything that might be wrong instead I point you here: https://bitcointalk.org/index.php?board=14.0

I appreciate the questions, but I am sure I speak for many others when I say, please go into the forum and read what other have wrote.  These same questions are asked all of the time on here and the answers are always just someone elses opinion.  So read the forum and make your own opinion.

Depends, but if you use many times word fast, u want clients like multibit. Very fast syncing type of client.

1. For me the best wallet is Blockchain, but since blockchain have a new update, it's sucks if you have many address.
2. It's a good idea or you can make another address.
3. Don't know.
4. Don't know.

thanks Kemikal for help .. hope to be friend

One of the best wallets is blockchain.info. You can create as many Bitcoin addresses there as you need. The best way to transfer bitcoin to USD is to sign up for one of those sites that offer you a plastic card that can be loaded with BTC (the usually don't cost much). About generating "only 20BTC/month" , that's close to impossible unless you have like 10 Antminer S7's (the most powerful asic miner) running 24/7.

I would advice that you setup a website and promote all the Bitcoin games and faucets that pay instantly. This will help you get your first bitcoins while helping others (those faucet pay a generation referral fee). I hope this helps. P.S: I am new here just like you

Dears,

This is my first thread in Bitcoin and in the forum. I don't know a lot about BTC and the wallet but for two days I build a big Database about the mining sites and faucet and hardware but still not perfect knowledge. After that am confusing now !!! I need to start but am encountering this questions and I need answers from experts.

Questions:
1- First to gain BTC you must have a wallet, what is the best wallet?

2- I have an idea: to make two wallets one for store the amount and one for exchange and play with it and after gain BTC transfer to the safer wallet "first one", is this right idea?

3- what is the fast way to transfer the BTC to US Dollar $$?

4- What is the fast way to have this $$$ as a bank note?

5- From my point of view, the mining hardware is the fast, easy and secure way to build BTC's if I want to generate only 20BTC/month what is the cheap hardware I have to obtain to reach this amount?

Notes:
- Am from Alexandria, Egypt.
- Working as a freelancer software developer.
- Pc laptop sony Core i3  2.53Ghz

thanks.