Topic: New to BTC in 2017 (Read 1118 times)

Welcome to the club.  

Friendly suggestions, do not invest what you can't afford to loose.

And don't trust people you don't know with BTC, you can always use escrow.

You could run a full node if you want but bitcoin mining is only for big business now, it was not supposed to be like this but mining has become centralized.

Hi, welcome to the world of Bitcoin. In essence, you should think of Bitcoin as a commodity that can be exchanged, maybe like gold. Except gold is a bit more of a stable commodity, it is still compared to Bitcoin quite often.

I understand your interest in mining. I assume you understand the process and how it works, and it would be a little odd to repeat it seeing as how bitcoin.org and bitcoin.it both contain hours worth of reading to explain how it works. So I'll skip that explanation.

However, in terms of mining, it is not worth your time or energy. I joined Bitcoin 2014 and the forum in 2015. I thought it'd be good to try mining, but with my computer and internet speed I made around 10 satoshi in 24 hours. There are so many ways to earn 100 000X that in most likely a faster way. If you'd like to mine, there are several instructions in the mining board to help you. The basics are as follows: you download the program (ex. cgminer), you connect to a pool and use the hardware you'd like. From what you described you have, you will not make a lot of money. However, run the program on the hardware. If you use cgminer, it should run in CMD and send you notifications as to what is taking place. This is basically it - there is a lot more info online though and I am no expert on the matter as there are many programmers out there.

In terms of earning Bitcoin, you really have to invest in it with USD or any fiat currency to get yourself off the ground. As an example, exchange your money for Bitcoin and then invest it in an exchange, such as Poloniex. It may not be the best time to invest all your money now, seeing as how we experienced a huge bump from the halving period. I predict, by the next halving point, we should drop to around $800 maximum, and then we'll probably hit a max of $2500 in 2020. Now it's 2017, so you've got lots of time. I'd invest increments every week or so, while analyzing where the charts are going.

Afterwards, you're going to want to watch different tutorials to learn the best tips on investing.

You can also play games online (like a casino) and you can use bitcoin faucets. Plus, a lot of employers have begun to accept bitcoin payment forms, so you could look for different platforms to get paid.

Good luck in your future in the Bitcoin community. You will learn shortly this community is the best that exists! You can PM me if you need any help.

I'm currently using my rig on mining but now that i think about it, even if i don't have to pay electricity bills, will my rig last long enough until the time i can buy another rig with the amount i got from mining to buy for a replacement?

How profitable would it be to connect a rig in my dorm if I don't have to pay electricity bills? I've been playing with this idea, but never had the guts to come through with it so I stuck with trading.

Welcome and congratulation on your newfound interest! Like all the allready told you, mining isn't worth your time. Buy some bitcoin and use it in everyday life to see where it can benefit you. If you wanna know more about the mechanics of mining, go for an altcoin.

Your already late to profit in mining,because these days mining isnt profitable by now. It will only cost you high electricty bill. Why dont you try trading its the most profitable way of earning bitcoin by now.

Mining with a single rig is dead, you can't and you won't help the network with that much of hash power.
You can mine some altcoin, as some of them are resistant to ASIC technology (Zcash for example with their PoW Equilhash) but that won't help Bitcoin network.
If you want to profit from then you can try investing instead, or just buy and hold your coins, time showed us that this might be the best strategy.

No, we could become rich if we keep on saving those bitcoins. Entering into bitcoins by 2017 is not too late. We need to remember we are still in early adopting phase of bitcoins and later adopters of bitcoins are yet to born..

But need to choose profitable altcoins for mining. Because mining with GPU is not advisable in this ASICs era.

Welcome to bitcoin.
By running a full node (bitcoin core or any other full node) you are already contributing to the network.

Mining is risky and profits are small.
With the current bull market you could make more profit by buying and later selling them.

I recommend to you to read about the 1MB block size and the transaction fees that derive from it.
If you use fees that are too low your transaction might never go through.

1+  In 2010 it was worth mining but not  in 2017

Welcome to big adventure my friend.
Don't start with mining, its a newbie mistake very very common. Just buy some and use it to understand it better, then read a lot.

With CPU (your pc fx6100 4gb ram win8.1pro) you can mine XZC (https://bitcointalksearch.org/topic/ann-zcoin-xzc-implementing-zkp-privacy-without-trusted-setup-1638450) on https://xzc.suprnova.cc pool and sell it to bitcoin.

I'd recommend mining an altcoin with a GPU and exchanging the altcoin for bitcoin. You won't become rich but it's for sure fun and the easiest way to get bitcoin, if your electricity costs is cheap you might even earn some money.

I am very new to bitcoins and know very little. I am hoping for some good friendly advice on how to start mining and helping the network.
I would like to contribute to the network and mine BTC and have the full block chain downloaded on bitcoin core 0.13.2. (I thought a could mine with this but I don't know how to do it , I know not worth using  for profit but just for the knowledge and understanding of it)
I am not sure where to go from here whether to get involved in mining , and have 2 bi fury USB block eruptors which I have not used yet or I am thinking of trying a s5 or s7 but feel I will struggle with setting up correctly!
I have a spare pc fx6100 4gb ram win8.1pro running the full block chain ?
Any advice would be appreciated ☺️