New to bitcoin mining .. suggestions tips?

JessicaSe

legendary

Activity: 840

Merit: 1000

Quote from: bellasage on October 16, 2014, 09:49:09 AM

Hey everyone,

I am a total noob at the moment to the whole mining and bitcoin. I have been following it and doing my reading and it's a lot of info to wrap my head around and yet very exciting. My husband bought me a new antminer S4 and it is due to arrive today. I was just wondering if anyone had any getting started tips and advice. Opinion about good pools for noobs , software ect .. I am planning on running the rig 24/7. Yes I have read the forum , but it all becomes very confusing following link to link.

Thanks in advance

Dont mine and buy BTC directly, everyone would tell you the same thing..

rammy2k2

legendary

Activity: 1974

Merit: 1003

just buy btc

goozman96

hero member

Activity: 728

Merit: 500

I personally mine on eligius. They don't have any pool fees unlike btcguild and still include Namecoin merge mining.

nikkoy

newbie

Activity: 42

Merit: 0

woah! thank you for this thread. i was planning on mining at home but as i was reading about it through this forum, i kinda little bit discouraged to do so due to expenses incurred when mining. Sad

Thank you that someone had replied about this thread. Grin

xstr8guy

hero member

Activity: 784

Merit: 1004

Glow Stick Dance!

Quote from: bellasage on October 16, 2014, 12:15:40 PM

Thanks philipma1957,

If I read my electric bill correctly its under 10 cents per kw ..

The rig will be kept in the basement where its colder and the noise shouldn't affect the rest of the house down there or not any worse than when the dehumidifier is running in the Summer. With winter coming the extra heat won't hurt

Dedicated outlet .. check

Thanks for the screen shot , quick question , what is the difference that I would notice between the two difficulties? or what's the reason for choosing one over the other?

Was this the wrong mining rig for him to purchase for me?

I'll check out btcguild .. he is leaning towards bitminter

Thanks

If you've read the forum as you say you have, then you should be able to answer this question yourself... "Was this the wrong mining rig for him to purchase for me?"

There are literally hundreds (thousands?) of posts discussing the pointlessness of buying mining equipment now for home mining. There are no "right" miners to buy. Home mining is dead.

bellasage

newbie

Activity: 15

Merit: 0

Thanks philipma1957,

If I read my electric bill correctly its under 10 cents per kw ..

The rig will be kept in the basement where its colder and the noise shouldn't affect the rest of the house down there or not any worse than when the dehumidifier is running in the Summer. With winter coming the extra heat won't hurt

Dedicated outlet .. check

Thanks for the screen shot , quick question , what is the difference that I would notice between the two difficulties? or what's the reason for choosing one over the other?

Was this the wrong mining rig for him to purchase for me?

I'll check out btcguild .. he is leaning towards bitminter

Thanks

philipma1957

legendary

Activity: 4116

Merit: 7849

'The right to privacy matters'

the s-4 is loud.
the s-4 uses more then 1200 watts

So what is your power cost?
10 cents a k-watt or less is good.
10 to 15 cents a kwatt is marginal
15 to 20 cents is below marginal
above 20 cents is bad almost a certain loss.

It will be pretty hot.
It needs a dedicated power circuit if you live in the usa and use 120 volt power.

pools

btcguild and set difficulty at 1024 or 2048
see screen shot

bellasage

newbie

Activity: 15

Merit: 0

Hey everyone,

I am a total noob at the moment to the whole mining and bitcoin. I have been following it and doing my reading and it's a lot of info to wrap my head around and yet very exciting. My husband bought me a new antminer S4 and it is due to arrive today. I was just wondering if anyone had any getting started tips and advice. Opinion about good pools for noobs , software ect .. I am planning on running the rig 24/7. Yes I have read the forum , but it all becomes very confusing following link to link.

Thanks in advance

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