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Topic: New to BitCoin, need your help please - page 2. (Read 1788 times)

hero member
Activity: 896
Merit: 1006
October 19, 2016, 02:19:14 AM
#7
Okey then i won't use my laptop for mining!

I also heard about cloud-mining.
Can i use those for mining LiteCoins?

Can you seuggest a good one?
How much will it cost per month for me to pay for resnting it and electricity and what would the profit be?
Avoiding the cloud mining site, if you're wanna for using the cloud mining site are like just wasting your money into the dark hole. the best one is trying for collecting your amount before and buying a miner tool like usb mining tool if you're not enough money for buying a large mining tool like s9.

You're correct about cloudmining: think about this fictive example:

I have a good electricity rate, and buy an S9... If i run my S9, i make 0.01 BTC/day profit... Why would i ever rent out my mining equipment for less than 0.01BTC/day... It just wouldn't make any sense...

So, either cloudminers try to scam you, make you pay more than you'll ever make, or sell the complete risk to you in return for a small fraction of the profits... Neither of these cases are good for you (IMHO).

I don't really agree on your advise for the OP to buy an usb mining stick, nor do i completely agree on advising him to buy an S9.
An usb mining stick will probably never ROI (i did the calculation in a previous post, just to lazy to look it up). An S9 might give the OP some profit, but ONLY if he has a good electricity rate, enough technical knowledge and an appropriate place for his S9. Additional research is defenatly needed before buying any ASIC.
legendary
Activity: 3234
Merit: 1029
Leading Crypto Sports Betting & Casino Platform
October 19, 2016, 02:16:51 AM
#6
Okey then i won't use my laptop for mining!

I also heard about cloud-mining.
Can i use those for mining LiteCoins?

Can you seuggest a good one?
How much will it cost per month for me to pay for resnting it and electricity and what would the profit be?
Avoiding the cloud mining site, if you're wanna for using the cloud mining site are like just wasting your money into the dark hole. the best one is trying for collecting your amount before and buying a miner tool like usb mining tool if you're not enough money for buying a large mining tool like s9.
newbie
Activity: 18
Merit: 0
October 19, 2016, 02:07:52 AM
#5
Okey then i won't use my laptop for mining!

I also heard about cloud-mining.
Can i use those for mining LiteCoins?

Can you seuggest a good one?
How much will it cost per month for me to pay for resnting it and electricity and what would the profit be?
hero member
Activity: 1330
Merit: 569
October 19, 2016, 01:54:05 AM
#4
Hello, i'am very new to BitCoin.

I'am interested in mining with my Dell i7 Laltop which iam running linux on.

Could someone please explain to me what steps i need to follow in order to have my Arch Linux mine Bitcoins or LiteCoins because its easier?

I would highly appreciate your help.

Your answer have been provided even though I have not tried mining, I have read on several threads that its not economical to mine Bitcoin these days when there are large farms in China doing that and you want to compete with them, but would love to read others comment. But since your system has a high spec why dont you divert it to something else I am sure when you surf the forum you will see the need for it and will eve be more worthwhile than mining.
member
Activity: 111
Merit: 10
October 19, 2016, 01:52:39 AM
#3
Hello, i'am very new to BitCoin.

I'am interested in mining with my Dell i7 Laltop which iam running linux on.

Could someone please explain to me what steps i need to follow in order to have my Arch Linux mine Bitcoins or LiteCoins because its easier?

I would highly appreciate your help.

NEVER use a laptop to CPU/GPU mine Bitcoins, even if you think you have adequate cooling.
hero member
Activity: 896
Merit: 1006
October 19, 2016, 01:48:57 AM
#2
Hello, i'am very new to BitCoin.

I'am interested in mining with my Dell i7 Laltop which iam running linux on.

Could someone please explain to me what steps i need to follow in order to have my Arch Linux mine Bitcoins or LiteCoins because its easier?

I would highly appreciate your help.

My advice: stop right there, don't mine with your laptop... Period.

Years ago, people could mine bitcoins with their CPU, then people found they could reach a much higher hashrate using their GPU, making CPU mining obsolete.
A short while later, companies found a way to produce chips with the sole purpose of creating sha256 hashes, they put these chips into so-called ASIC's. An outdated ASIC is thousands of times faster than your i7, using only a fraction of the electricity, so mining with your CPU is completely obsolete.

Nowaday, you can only mine bitcoin or litecoin using an ASIC, using anything else will produce so little hashrate you would literaly have to mine for years to reach the minimal payout at a mining pool. It would literaly be more cost-efficient to claim bitcoins from faucets (making $1-$3/day in the process).

A good ASIC would be an antminer S7 or S9, but at  this point, you need one of these AND a super low electricity rate to even try to break even (plus, you need good PSU's, shelving, cooling, technical knowledge).
newbie
Activity: 18
Merit: 0
October 19, 2016, 01:47:58 AM
#1
Hello, i'am very new to BitCoin.

I'am interested in mining with my Dell i7 Laltop which iam running linux on.

Could someone please explain to me what steps i need to follow in order to have my Arch Linux mine Bitcoins or LiteCoins because its easier?

I would highly appreciate your help.
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