I am new to mining. Please guide me - page 2.

notlist3d

legendary

Activity: 1456

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Quote from: MohMUS7 on June 30, 2016, 05:11:09 AM

mining is not profitable at all these days specially for new one who want to build a small farm.

Not true so many varibles in it, you cannot go around making blanket statement's. Some love to go around saying stuff like this "Mining is dead", "Not Profitable", etc. But with right electricity price it can STILL be done and is being done.

With S9 there was a HUGE jump in efficiency so now more people can mine after having with it. But many still will mine. I also dabble in Ether for fun, again still can be done. OP what is your electricity rate?

avatar_kiyoshi

legendary

Activity: 1106

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https://www.bitcoinmining.com/getting-started/
https://bitcoin.org/en/choose-your-wallet
These link will help you to getting started.

colorsoflife29

newbie

Activity: 14

Merit: 0

Well i was never interested in mining myself buy as i told you guys i am new to the bitcoin thing i made a thread asking bunch of people and they came up with many types of wallets desktop and web and i was so confused until i made my mind for blockchain,info or multibit but they said some have no transaction charges but they are insecure and some have charges and they are highlu secure but they also told me to mine the stuff through mining and thats the only reason i made this thread as they guided me to make one here otherwise i was not even sure where to go and ask about mining. I dont even know whether it is for extra wallet safety or for earning. I am a noob in these things. All i want is a safe wallet where i can anonymously receive my payments and then i can transfer them to my payoneer card and i am still struggling day and night to find solution so i can start something out but all my efforts are in vain so far.

I am still expecting someone would show up and clear up things and guide me with a clear step by step things to solve my issue

Thanks again though

Velkro

legendary

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Quote from: colorsoflife29 on June 29, 2016, 02:40:15 PM

hi everyone

i am new to mining. How it works and what i need? I am still learning about bitcoin account and their types. I will appreciate your comments.

Thanks

No idea why begginers in bitcoin keep starting from mining. Its like i want to have gold so i will setup a gold mine somewhere, tell me how people.
You need millions of $ to start :>, of course u can get pickaxe and go to mountains to start also Wink

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MohMUS7

newbie

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mining is not profitable at all these days specially for new one who want to build a small farm.

Kray

hero member

Activity: 658

Merit: 500

Quote from: colorsoflife29 on June 29, 2016, 02:40:15 PM

hi everyone

i am new to mining. How it works and what i need? I am still learning about bitcoin account and their types. I will appreciate your comments.

Thanks

To mine bitcoin you there are several way.
1. Your own mining. You need internet connection and very good hardware. If you mine with low hardware you can't get coin easily.
2. Cloud mining. You buy online cloud mining, you don't need good hardware, pay electricity and maintain your miner. You just need buy some hashrate and you can have bitcoin/other coin. Note, buy from trusted cloud mining provider. I hope you want to use my refferal Grin

.
3. Staking, you can mine alternative coin easily, you dont need good hardware. Just keep your wallet balance open and connect to internet. But this way, you need research profitable coin for staking.

When you mine coin, it's depend on your hardware and coin difficulty, if coin difficulty is very high so you only get small amount.

I hope, it's answer your question

helloeverybody

legendary

Activity: 1008

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★YoBit.Net★ 350+ Coins Exchange & Dice

If your new to bitcoin mining then dont bother getting too involved, youve missed the boat on it unless you have thousands to spend on hardware and next to free electricity. If you plan on mining alt coins then your going to need at least 1 decent gpu but preferably several to make a return in investment. Basically bitcoin mining is out the window for you.

colorsoflife29

newbie

Activity: 14

Merit: 0

hi everyone

i am new to mining. How it works and what i need? I am still learning about bitcoin account and their types. I will appreciate your comments.

Thanks

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