Topic: Hello all newbie here with a few questions. So much info out there but yet so... (Read 505 times)

Thank you Birdy on that one.

I was hoping to get into mining since I have over 32 VPS computers world wide. while they sit there and are open 24/7 why not put them to work? Was to generate a bit of cash flow slowly.

So now there are Mining contracts? Ahhhh. I was hoping to get a few computers to just mine with the programs out there and resell it later on after a few months. I guess that plan totally failed.

Thank you for the information birdy!
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Zeek_w

I have read about the Gh/s over the last day or so. The more you have the faster it will mine for you.

So I guess mining for these even putting these computers at a datacenter it wouldn't pay off I would say? I was looking to go all out on it.

Those aren't reasonable investments either

Just buy Gh/s that are hosted if you are unsure of what to do. Check my sig.

Or sign up to bitminter.com which is another pool that has a very noob friendly java app miner

No, "Address" will list addresses where you've sent Bitcoins in the past.
"Receive" is the list of your Bitcoin addresses, which you can use to receive Bitcoins.
By the way: There are light local clients that don't require you to download the whole blockchain (history of all Bitcoin transactions): Electrum and Multibit


I would advice you not to go into mining (or at least wait until you really understand how Bitcoin, difficulty, mining and so on work)

Most people will be worse off than if they bought Bitcoins and hold them instead of buying mining contracts/buying mining hardware.

Complicated.

I have downloaded the "Bitcoin - Wallet" It did an update of like 300 weeks I believe over night so it's finally done today.
1. To find out my wallet code do I just click on "Receive" and it will be under "Address"?


Now my understanding is before doing any kind of mining.
2.  I would need a mining program/software to do this correct?

Also before doing that step I need to know if I want to join a pool with others and there are only 2 of them correct? The only 2 I had found was eclipsemc & btcguild.

After the pool eclipsemc & btcguild. I would need a software for mining? "EasyMiner"?

Now in order to do all of this. I would need Wuala to upload everything? Does this mean I would need a lot of memory on my computer at least 2TB to store data maybe?  OR would I have to keep buying or renting it from cloud servers all the time to store the information? Seems like this would be costly after a while. No?

Also I understand if the computer shuts down not correctly everything is lost for that time frame as it was mining? I am thinking of running this on my laptop for a few days to get the hang of it. No idea if it's worth renting or even buying servers that really do the mining for it in order to pay off? As the articles I've read online in the last 3 days show that people are making a ton of money mining but it all seems to good to be true really. So I figured I'd ask on the forums here with people who have more information in this field then I would have.

I am going to read the forums with other newbie questions also while I wait for some answers. Sorry my English is not the best here.

I would like to thank you in advance for the answers.

Lux.