Does mining require a professional - page 2.

MarketTime

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Quote from: rudz on October 27, 2013, 05:08:45 PM

I am thinking of buying an ASIC and start mining BTC. I just have 1 question to miners. Is it difficult to mine? I mean should I be a PC professional or have a computer science background to mine? Few people told me that I shouldn't mine because it is not something easy, and if i don't know what I'm doing, it might cause me trouble in terms of ROI.

I work at a bank from 8 to 6 everyday, so I won't have time to sit on the PC, but in order to make money, I should keep my PC running at least 20 hours a day. Is mining just plugging the hardware and letting the PC run alone to mine BTC?

I appreciate your help with this matter.

Thank you

It comes with instruction but, it won't be super easy even with instruction but as long as you are not like my father that asking me how to install skype. You should be fine....

Undefeatable

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Quote from: rampalija on November 14, 2013, 06:41:37 PM

Only tradeing requires a proffesional! Cheesy

or you loose all you money

Nah, its easier to trading then mining:)

Johanna

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Activity: 255

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Quote from: rudz on October 27, 2013, 05:08:45 PM

I am thinking of buying an ASIC and start mining BTC. I just have 1 question to miners. Is it difficult to mine? I mean should I be a PC professional or have a computer science background to mine? Few people told me that I shouldn't mine because it is not something easy, and if i don't know what I'm doing, it might cause me trouble in terms of ROI.

I work at a bank from 8 to 6 everyday, so I won't have time to sit on the PC, but in order to make money, I should keep my PC running at least 20 hours a day. Is mining just plugging the hardware and letting the PC run alone to mine BTC?

I appreciate your help with this matter.

Thank you

It usually come with instrution so it should be easy.

Thenen

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Mining required a professional, its not just as simple as plugging in and click the start button...

rampalija

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Only tradeing requires a proffesional! Cheesy

or you loose all you money

rudz

newbie

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Quote from: rampalija on November 04, 2013, 12:38:28 PM

Quote from: BTC_GHD on November 03, 2013, 07:31:32 PM

Mining shouldn't really be done by one person anymore. Looking to big mining companies to do it and you get a little profit Cheesy

Unless you mine something that isn't BitCoin

I totaly agree with you pawl

Why is that? There is something I don't get in mining BitCoins. Let's say I got the ASIC and I have set everything up and started mining. And let's say with difficulty x I am suppose to make 1 BTC a day. Is there a chance I will be making less than 1? if yes by how much? and what are the chances of getting less than 1?

I know that mining alone is difficult, and mining in pools is better. For me I think of it that way. Plz correct me if i am wrong: Every 10 minutes the system releases currently 25 BTC. If I'm contributing with 1% of the total system hash rate, I will be getting 1% of 25 BTC undependantly on which pool I am mining with, right?
If the answer is no, then each 10 minutes, only 1 pool gets the 25 BTC? (I mean the pool that was able to solve the equation?) or it is divided equally among everyone in the whole system?

Please clarify this for me because it is very confusing, and if it is not certain that I will get BTC when I am contributing this makes it way more difficult to ROI.

Thank you

rampalija

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Quote from: BTC_GHD on November 03, 2013, 07:31:32 PM

Mining shouldn't really be done by one person anymore. Looking to big mining companies to do it and you get a little profit Cheesy

Unless you mine something that isn't BitCoin

I totaly agree with you pawl

cassimares

full member

Activity: 236

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Quote from: rudz on October 27, 2013, 05:08:45 PM

I am thinking of buying an ASIC and start mining BTC. I just have 1 question to miners. Is it difficult to mine? I mean should I be a PC professional or have a computer science background to mine? Few people told me that I shouldn't mine because it is not something easy, and if i don't know what I'm doing, it might cause me trouble in terms of ROI.

I work at a bank from 8 to 6 everyday, so I won't have time to sit on the PC, but in order to make money, I should keep my PC running at least 20 hours a day. Is mining just plugging the hardware and letting the PC run alone to mine BTC?

I appreciate your help with this matter.

Thank you

Yes, it is difficulty for someone who have totally no idea... buying Bitcoin is easier

SquallLeonhart

legendary

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Its really hard for me at first, especially when I don't even know what is pool. But after you understand more it should be easy..

BTC_GHD

member

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Mining shouldn't really be done by one person anymore. Looking to big mining companies to do it and you get a little profit Cheesy

Unless you mine something that isn't BitCoin

ekiro

full member

Activity: 154

Merit: 101

If you wish to make it worthwhile and you want to make some money out of it , you need to be a pro. You need to get reels manufacturer and some board designs assembled. Cut out all useless middlemen. Shoot them down with a tank. Vertically integrate. And you will make positive ROI.

Otherwise you will just collect second hand garbage buying, mining, and selling in between difficulty bumps.

Gumbork

hero member

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Don't need a professional to start mining, but you do need to be professional if you want to ROI.... 90% of the miners are having negative return.. Sad

rampalija

full member

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You should mine some altcoins with gpu if you have low electricity cost

rampalija

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Quote from: justmyname on November 02, 2013, 06:25:08 PM

It requires a genius at getting software and hardware to work together. But you also have to be a fool at the same time. Cheesy

fool in present day to start mine

as my friend said: Did you look that picture "nevergonnaROI.jpeg" ? Cheesy

justmyname

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It requires a genius at getting software and hardware to work together. But you also have to be a fool at the same time. Cheesy

rampalija

full member

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First learn everything then decide will you mine, and do you have ROI if you mine!

TheBlackAdder

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And thanks for all the fish

IMO, the easiest "Mining for dummies" approach is to get a Raspberry Pi with a minepeon image and a miner (BFL, Avalon etc.)

If you can burn a CD using a PC, you could easily install MinePeon. From there, its virtually click and mine.

vpitcher07

sr. member

Activity: 342

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Setting up your miner is the hardest part about mining and can take a little research to do if you know nothing about it. GUIminer is probably the easiest but most use bfgminer or cgminer which can be a bit tedious to set up if you have zero computer knowledge. I currently have 2 block erupter asic's mining on a linux laptop; the hardest part was going through the command line process in linux which i had zero prior experience with.

Basically, if you understand you will not make your money back unless you're willing to drop a LOT of cash up front, mining is pretty simple.

thew3apon

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Quote from: balanghai on November 02, 2013, 07:47:33 AM

You don't need if you are interested to learn on your own. But if you're too tired to do a research. Just buy shares in cex and sell it when price is high. Also you earn from mining with your share.

Its better to learn up before buying any Bitcoin related stuff, buying share on CEX is as bad as the price now is too high...

balanghai

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You don't need if you are interested to learn on your own. But if you're too tired to do a research. Just buy shares in cex and sell it when price is high. Also you earn from mining with your share.

Topic: Does mining require a professional - page 2. (Read 5442 times)