How & Where do I start in mining ........

Amph

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Quote from: unyubi on November 09, 2015, 03:15:25 AM

well. I am interesting to mining bitcoins but i have limited money...
can i do it even without buying hardware?

thank you for the thread anyway, its very useful Grin

yeah there are cloud service like hashnest or bit-x, but check their maintanance, because with the added fee from it, the roi double basically, which is lame imho...

HarryKPeters

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I started with GPU mining, then bought some cheap 2nd hand ascis. From there I upgraded my farm with better hardware.

This method is perfect, not only do you learn about the different mining software, but also the different mining pool. Setting it up etc.

While learning the mining process, go to the exchanges and learn a bit about trading too.. Give it a few months and you wil be a pro Wink

unyubi

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well. I am interesting to mining bitcoins but i have limited money...
can i do it even without buying hardware?

thank you for the thread anyway, its very useful Grin

morantis

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Gotta love someone pushing their service in the guise of help. If any of your guys need help reading this post try our newest website All Things Bit

Bitcoininspace

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Quote from: R2D221 on May 17, 2015, 08:56:10 PM

When was this made? I don't think suggesting a GPU for mining is a good idea.

It clearly says January 2014, and the estimated btc price was 930$. Maybe read the whole OP before asking blindly next time?

notlist3d

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Quote from: makcik on October 31, 2015, 02:12:32 AM

Mining is a Good way for earning bitcoins. Here are the steps you should follow..
(1) First of all, Set up a wallet-- Bitcoin is an internet currency, so you must set up a wallet for transactions, and make sure to have backup, because lost wallet is like burnt cash.....
(2) Decide your category for mining-- ~~GPUs, FPGAs,~~ ASICs
Each category is different than the other, so first decide which one you want to choose in these main categories.
(3) Get sure about your hardware-- Make sure your hardware is sufficient and capable for mining, you don't want to be in loss.
(4) Join a pool-- Working in groups is always better. They increase your experience

Asics are truly the only way to go anymore. Gpus are hard to even get enough to pay electricity in most cases, ROI is not happening. And I have not heard of FPGA mining for a long time.

Go Asics when picking a miner.

makcik

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Mining is a Good way for earning bitcoins. Here are the steps you should follow..
(1) First of all, Set up a wallet-- Bitcoin is an internet currency, so you must set up a wallet for transactions, and make sure to have backup, because lost wallet is like burnt cash.....
(2) Decide your category for mining-- GPUs, FPGAs, ASICs
Each category is different than the other, so first decide which one you want to choose in these main categories.
(3) Get sure about your hardware-- Make sure your hardware is sufficient and capable for mining, you don't want to be in loss.
(4) Join a pool-- Working in groups is always better. They increase your experience

bitcoinboy12

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Quote from: dunnerjunge on September 27, 2015, 01:16:31 AM

i think i Start mining with older Hardware only to try it then i calculate the price if its rentabel to mine BTC

Try any miner calculator before you start mining on hardware. You can calculate if its profitable or not... me from our country GPU/CPU is not profitable and youll lose youre money
i was try calculated the antminer s7 my calculate is $60-$70 usd a month. but i dont think so if this is the profit if i buy and use antminer s7 right now and monitor it by me..

dunnerjunge

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i think i Start mining with older Hardware only to try it then i calculate the price if its rentabel to mine BTC

Amph

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maybe it can be possible to mine sidechain in the future, therefore gpu can reclaim its small territory again

or in the case bitcoin will fail and we start again with something else, not desirable at all...

owlcatz

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Quote from: KimNam on September 25, 2015, 01:42:27 PM

Gpu mining?

Sure, you can still do it .. I mine some Monero/XMR now and again using a few AMD cards I have extra in my rig. Wink

Edit... Bitcoins? No way. LOL.

KimNam

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Gpu mining?

Amph

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Quote from: Betwrong on September 24, 2015, 04:10:02 AM

Quote from: bitcoinboy12 on September 21, 2015, 03:06:17 AM

This is not good in our country because high electricity rate. maybe its profitable for some people here if there current is jumpered. so electricity is free...
some people from our country buy antminer asic but he sell it again because of high electricity consumption....

Even in my country where the electricity is pretty cheap, $0.03 for kWh(kilowatt-hour), people barely return what they invest with Antminers.

well this is strange with that electricity anu antminers s5 for example would have roid long time ago and pretty fst too, if you bought it used

an used one was around 1.5 btc even less some time, we have $2 vs $0.42, 1.5 daily of profit, in 8 months you have your roi

Betwrong

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Quote from: bitcoinboy12 on September 21, 2015, 03:06:17 AM

This is not good in our country because high electricity rate. maybe its profitable for some people here if there current is jumpered. so electricity is free...
some people from our country buy antminer asic but he sell it again because of high electricity consumption....

Even in my country where the electricity is pretty cheap, $0.03 for kWh(kilowatt-hour), people barely return what they invest with Antminers.

Sir_lagsalot

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You're right, it does summarize alot, albeit outdated.

bitcoinboy12

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This is not good in our country because high electricity rate. maybe its profitable for some people here if there current is jumpered. so electricity is free...
some people from our country buy antminer asic but he sell it again because of high electricity consumption....

NoRespect

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Quote from: worldinacoin on August 15, 2015, 05:15:50 AM

This is great info, I am copying it out for my bitcoin illiterate friends.

true, this is very interesting
maybe some of my friends also want to read this, so I asked for permission to copy and share it Grin

Andrelvogue

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That is good to know.

notlist3d

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Quote from: tennozer on September 10, 2015, 07:52:47 AM

Quote from: notlist3d on September 10, 2015, 06:15:29 AM

Quote from: hoian0809 on September 10, 2015, 05:35:54 AM

To mine scrypt coins, you will need specialized hardware called ASICs. If you have a gaming PC with a good GPU, you can mine x11 coins like darkcoin. If you have a laptop, it's not really worth it to mine.

Really only asic mining is profitable. GPU and CPU normally are not profitable. Yes there is X11 and others, but add up electricity of GPU's running most likely you run at a loss. And you will not pay off the GPU.

I do not suggest CPU/GPU mining.

Yeah that's right. At the past CPU/GPU mining can be profitable but now if you want to profit with CPU/GPU, you have to get your electricity for free.
Don't think mining or you want to think only by using asics miners.

Do the math but even with free I dont see you ROI. That is paying for the CPU or GPU and make money over what they cost.

Yes you would make a little bit of money but it would be less then you paid for CPU or GPU in majority of cases. Only way is if you speculated right and mined right coin and held it. So slim chance but could happen with free electricity.

tennozer

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Quote from: notlist3d on September 10, 2015, 06:15:29 AM

Quote from: hoian0809 on September 10, 2015, 05:35:54 AM

To mine scrypt coins, you will need specialized hardware called ASICs. If you have a gaming PC with a good GPU, you can mine x11 coins like darkcoin. If you have a laptop, it's not really worth it to mine.

Really only asic mining is profitable. GPU and CPU normally are not profitable. Yes there is X11 and others, but add up electricity of GPU's running most likely you run at a loss. And you will not pay off the GPU.

I do not suggest CPU/GPU mining.

Yeah that's right. At the past CPU/GPU mining can be profitable but now if you want to profit with CPU/GPU, you have to get your electricity for free.
Don't think mining or you want to think only by using asics miners.

Topic: How & Where do I start in mining ........ (Read 8537 times)