How to earn by mining? | Bitcointalksearch.org

Grand_Voyageur

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Quote from: ranochigo on May 28, 2015, 10:10:49 PM

Quote from: Grand_Voyageur on May 28, 2015, 03:20:17 AM

Quote from: meganburke on May 27, 2015, 11:27:15 PM

I am newbie in bitcoin marketplace. Last one months I try to earn bitcoin by solving captcha. But the amount is too minimum.
I have found that bitcoin mining is good way to earn btc more. How do I do?
I am looking for complete mining guideline. How I find?

BTC mining could be an effective way to earn more BTC only if you get very cheap electricity and low tax rates. I suggest you to give a look to difficulty rate here and to run a few simulation here before investing in BTC-miners. You could find mining help & guides in this forum Mining board & child boards (Mining support, Pools, Mining software (miners), Hardware, Mining speculation).

Low electrical rates and taxation doesn't directly assures profit. Mining are usually much less profitable than purchasing Bitcoins since the possibility of hardware failure, sudden difficulty increase is high. RMAing a machine is pretty costly since you have to pay for the postage and the repair may take up to several weeks. The time will decrease the profitability. If a manufacturer decides to release hundreds of hardware suddenly, the difficulty can potentially increase by a magnitude. The cost of hardware is also quite an important factor in profitability too!

IMO cheap electricity and low tax rates are a conditio sine qua non for any investment in BTC mining HW. Only after such a preliminary check, I would engage in looking for the best mining HW that suit my business needs by running multiple simulations using HW quotes from multiple vendors. By the while, as I said before in this 3d, I think OP would be better investing in BTC by buying them with fiat currency.

notlist3d

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Quote from: dominicg on May 29, 2015, 12:35:59 AM

Quote from: meganburke on May 27, 2015, 11:27:15 PM

I am newbie in bitcoin marketplace. Last one months I try to earn bitcoin by solving captcha. But the amount is too minimum.
I have found that bitcoin mining is good way to earn btc more. How do I do?
I am looking for complete mining guideline. How I find?

Well mining involves a lot of investment. On the other hand, there are cloud-mining services that take contracts for mining, and you keep generating bitcoins according to the deal.
I think that would be a good way to start.
Good Luck

With cloud mining be careful sadly a some are ponzi. If they guarantee return in X months, or sound to good to be true avoid them.

I highly suggest doing research and find a site your willing to trust if you do mine in the cloud.

dominicg

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Quote from: meganburke on May 27, 2015, 11:27:15 PM

I am newbie in bitcoin marketplace. Last one months I try to earn bitcoin by solving captcha. But the amount is too minimum.
I have found that bitcoin mining is good way to earn btc more. How do I do?
I am looking for complete mining guideline. How I find?

Well mining involves a lot of investment. On the other hand, there are cloud-mining services that take contracts for mining, and you keep generating bitcoins according to the deal.
I think that would be a good way to start.
Good Luck

pooya87

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forget about solo bitcoin mining, it is not profitable anymore. with the price of initial equipment and the electricity that it uses you lose more money that you earn.

but if you really want to mine coins, i suggest you take a look at altcoins. mining altcoin is easier and you can dump it for bitcoin in exchangers.

maheshmahi

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I suggest that mining is an effective way to earn bitcoins. Mining altcoin is better.
But don't go for faucets.
Btc are better than getting pennies

ranochigo

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Quote from: Grand_Voyageur on May 28, 2015, 03:20:17 AM

Quote from: meganburke on May 27, 2015, 11:27:15 PM

I am newbie in bitcoin marketplace. Last one months I try to earn bitcoin by solving captcha. But the amount is too minimum.
I have found that bitcoin mining is good way to earn btc more. How do I do?
I am looking for complete mining guideline. How I find?

BTC mining could be an effective way to earn more BTC only if you get very cheap electricity and low tax rates. I suggest you to give a look to difficulty rate here and to run a few simulation here before investing in BTC-miners. You could find mining help & guides in this forum Mining board & child boards (Mining support, Pools, Mining software (miners), Hardware, Mining speculation).

Low electrical rates and taxation doesn't directly assures profit. Mining are usually much less profitable than purchasing Bitcoins since the possibility of hardware failure, sudden difficulty increase is high. RMAing a machine is pretty costly since you have to pay for the postage and the repair may take up to several weeks. The time will decrease the profitability. If a manufacturer decides to release hundreds of hardware suddenly, the difficulty can potentially increase by a magnitude. The cost of hardware is also quite an important factor in profitability too!

Xialla

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Quote from: meganburke on May 27, 2015, 11:27:15 PM

I have found that bitcoin mining is good way to earn btc more. How do I do?

you are around 2 years late to party, maybe even more. this topic is discussed here every day in several threads, just take your time and check other threads, mainly: https://bitcointalk.org/index.php?board=81.0

anyway, best way, how to jump to bitcoin train now is just buy BTC (their price is IMHO low right now) and read as much resources as you can. mining almost doesn't make sense, even with free electricity, space and internet..all depends on electricity price/chip efficiency/price of BTC/mining diff.

so many variables, such risky stuff, much profit. wow.

Miracal

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Mining is not profitable for the individual miners. I suggest to buy bitcoin at the low price. But you can mine it for fun or try it out, you can go to the mining board (https://bitcointalk.org/index.php?board=14.0). There are a lot of info there you can check it out.

Grand_Voyageur

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Quote from: notlist3d on May 28, 2015, 03:06:32 AM

Quote from: melody82 on May 28, 2015, 03:04:27 AM

I agree with the above. It is very difficult to earn with mining right now. Maybe when the next gen comes out there will be a better opportunity but I doubt it. I think the best chance is to mine an alt coin and hope for a pump.

Some things are actually great if you watch difficulty it is amazing how little it's been moving up. Price is slowly moving up, granted no huge jump.

It all depends on electricity and vat/import tax. If setup good you can ROI and make btc.

IMO, If OP cannot achieve ROI with mining, he could consider directly buying BTC instead. While price apparently is slowly moving up he may still save a lot of production costs (electricity, taxes, miners, etc.) by buying BTC with fiat currency.

Grand_Voyageur

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Quote from: meganburke on May 27, 2015, 11:27:15 PM

I am newbie in bitcoin marketplace. Last one months I try to earn bitcoin by solving captcha. But the amount is too minimum.
I have found that bitcoin mining is good way to earn btc more. How do I do?
I am looking for complete mining guideline. How I find?

BTC mining could be an effective way to earn more BTC only if you get very cheap electricity and low tax rates. I suggest you to give a look to difficulty rate here and to run a few simulation here before investing in BTC-miners. You could find mining help & guides in this forum Mining board & child boards (Mining support, Pools, Mining software (miners), Hardware, Mining speculation).

avatar_kiyoshi

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Quote from: melody82 on May 28, 2015, 03:04:27 AM

I think the best chance is to mine an alt coin and hope for a pump.

Agree. And find alt coin which have a low difficult. But the risk is altcoin is easy to dump and pump.

notlist3d

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Quote from: melody82 on May 28, 2015, 03:04:27 AM

I agree with the above. It is very difficult to earn with mining right now. Maybe when the next gen comes out there will be a better opportunity but I doubt it. I think the best chance is to mine an alt coin and hope for a pump.

Some things are actually great if you watch difficulty it is amazing how little it's been moving up. Price is slowly moving up, granted no huge jump.

It all depends on electricity and vat/import tax. If setup good you can ROI and make btc.

melody82

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I agree with the above. It is very difficult to earn with mining right now. Maybe when the next gen comes out there will be a better opportunity but I doubt it. I think the best chance is to mine an alt coin and hope for a pump.

michinzx

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unless you have access to incredibly cheap or even free electricity and a rather large amount of capital to invest in mining hardware, it most likely wont be profitable at all.

Buttknuckle

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I did a quick calculation and in my area with a high 15 cent electricity plus tiers I would make a few pennies a day if I was lucky, assuming no difficulty increase. You can make money mining but not that much. I saw some undervolted s1's and s3's on ebay before, that would be my best bet. It depends on your electricity costs.

If you just want to mine for fun then you can buy a usb stick or old hardware for pretty cheap. Just don't expect to make any money.

I think the best option is cloud mining. There are ponzi's as stated, but hasnest is a good legit mining service. Keep in mind that the difficulty and price of bitcoin WILL change. It could change in unpredictable ways. So if an online calculator says your ROI is 200 days or whatever, depending on what happens that number could be wildly inaccurate.

notlist3d

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One of the biggest questions is what is your electricity rate? Also do you have to pay a vat/import tax?

Between those two we can tell you if mining at home will work. If not hosting and cloud are the other options.

bitbaby

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Mining solo is not profitable anymore and you would need to invest a lot in hardware to earn anything from it. You can try cloud mining but again it involves investing money and there is a possibility that the company might run away with your investments (as it has happened in the past).

If you're still interested in Mining, there is a separate section which have lot of information on Mining- > https://bitcointalk.org/index.php?board=14.0

I think you'll find answers to most of your questions there if you give it a good read.

Amph

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only if you don't pay your bill, otherwise i'm doubtful that mining is really better than faucets, actually is worse for many with high electricity, because while with faucet you can gain a little with mining you lose a little each day

meganburke

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I am newbie in bitcoin marketplace. Last one months I try to earn bitcoin by solving captcha. But the amount is too minimum.
I have found that bitcoin mining is good way to earn btc more. How do I do?
I am looking for complete mining guideline. How I find?

Topic: How to earn by mining? (Read 917 times)