Topic: How & Where do I start in mining ........ - page 2. (Read 8537 times)

really good picture and mining tutorial.. 

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.

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.

The cost of electricity is depending on where you are living. Furthermore, which miner do you use for mining? The technology is always improving day by day and new miner are producing for low energy consumptions.

are you sure mines are still profitable? I think it's too late to know bitcoin and when I tried to find some information about the current bitcoin mining is not profitable because the cost of electricity is too expensive and low current bitcoin

>$942.63 Current market price of bitcoin

I think that shows how old this image is.

It is an old pc and you can get ver low satoshis but if you want and try to learn about mining, you can mine some altcoins.
https://minergate.com/

look at that site and you can mine some little amounts by using your cpu and gpu. But I say one more time, you will not get profit with your old pc.

Sir how can i start mining with my pc specs core 2 duo, 4gb, inter grapics 1gb and which software to be use on it???

was indeed must require substantial capital 

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

So the question is here.

In these conditions, nowadays, how and where do I start in mining?

damn reading all those comments, i missed that golden times

uhh, are you aware about new 16 Nano KNC chip? http://www.kncminer.com/blog/newsarchive

I agree to start slow and do it as a hobby.

I think it is a great time to mine since the difficulty is not always getting harder like it was before. I have now been mining BTC for over a year and the difficulty has not been increasing constantly. Worst case BTC jumps up in price and all the miners come back online and my miners I am now buying for 85.00 ea are worth much more.

But do the math before you do anything since that's what it all comes down too unless it is a pure hobby for you.

I don't understand the thought of saying it's not worth it to mine now, since the bitcoin price is low.  I'm looking at this as a small investment, like buying small shares of a stock.  Before the "big boom" of bitcoin, it had averaged approx $110 per coin for awhile and then was highly inflated to approx $1120 per coin.  Now it's been sitting around $220 and I expect the price to drop more before somewhat inflating again.

 The way I see it, if bitcoin stays current or deflates a little, then it puts pressure on the mining farms to suspend operations till the price is profitable again...meaning they only farm when they can immidiately flip their rewards for a good (inflated) price.  With my hope and assumption that bitcoin will inflate again (like any volatile stock would, the short past history of bitcoin has demonstrated, and because the dollar value decreasing somewhat because of US debt), then why would you not mine for bitcoin if you can afford it at a temp loss for suspected future gain?  

If I mine now while the price is low, and supposedly so is competition (because we know if bitcoin was $1,000 per coin then EVERYONE would be running full power), and hold till the price inflates somewhat better than what it cost me to mine, then I've made more money by continue to mine now because I have presumedly more bitcoin shares.

Sorry this is so long or if it is in the wrong forum, but saying not to mine now because it is not immediately profitable (whether as a hobby to break even or as an investment), seems to me like saying not to buy Walmart stock because it's at $30 a share when it normally is at $100 a share.  I know it's a lot of assumtions to think bitcoin will rise again and many variables can affect price, but to me if you only mine whenever it is ONLY immediately profitable...then you're shorting yourself on the investment that we all hope and think that bitcoin will rise again.  If you don't think bitcoin will pay off to mine or buy when at a low price, then you probably shouldn't be doing so anyways regardless of price.  The point of investing is to buy low and sell high, buying high and hoping for higher is where investments go bad.

a hobby is probably the best way to go about mining, too much to worry about if you do it for profit; constantly selling and buying miners, the randomness of finding a block, etc.

Best advice is to start of slow. Maybe buy a used miner and make sure your electricity in your area is reasonable. Then just treat it like a hobby and have fun.

You should buy an investment package from cloudthink.io, it is the best option for earning daily bitcoins with interest

I say Learn and have fun.

I look at the miner as another appliance.

Everybody's house is full of large and small appliances that will never realize any ROI. and yet we don't give it a second thought.. We Need them.
In the modern city we go to the coffee shop and pay 5 dollars or more for a cup of coffee. I guess we need them.
We install Pools in the ground and then pay to have them cleaned or heated. I think maybe we need them.
We drive our cars less than 1/4 mile to the local store to buy a loaf of bread or a container of milk.  I am sure we need the car for this.

My point being there are worse things to waste your money on then hashing power.
Hashing power pays for itself over time... and even if it does not and you lose money it really is cheap entertainment. (your probably on this forum 1/2 hour or more per day. if it was not entertaining you would not be here.)
try going to Disney world for what you pay for a miner and a full years worth of electricity.  I doubt you would get the same ROI from them.

Good luck and enjoy your mining experience !

Even with that, actually the Bitcoin price is too low for invest on its mining. Altcoin mining should be more profitable I guess, and even so, you'll need some kind of green energy. I believe is better to accept Bitcoins out there in your business to increase its use, your sales, and maybe the price.