Newbie & Conservate rate of earning?

darkangel11

legendary

Activity: 2478

Merit: 1360

Don't let others control your BTC -> self custody

Quote from: danielles on June 01, 2018, 12:25:08 PM

To be frankly honest, I don't understand this whole bitcoin mining thing.

Being "frankly honest" is like putting a hat on a hat. Be frank, or be honest Wink

I guess it was made difficult to understand so that it prevented everyone in the world from trying to jump on the bandwagon. But I thought after watching this video on youtube that maybe I might be able to earn something from trying my hand at this.

So I downloaded BitMinter v.1.6.1 and my Hashrate is 0.05Ghps. I'm thinking of installing it on another computer that I won't be using as I've noticed this computer will cause the hashrate to go down to 0.03 depending on what I'm doing.

Truth be told, I'm not looking into earning a ton of money.
I just wanna know if it's possible and if so what the recommended hardware specs are to earn about $50 a month.

I do apologize if this is in the wrong forum area/section.

Thanks for your time,
Danielle

I don't know if you realize how much hashpower you got. 0.05Gh means that you'll be mining 0.00000107 BTC per year, which is $ 0.007849. So, not even half a dollar per whole year. You can confirm it on any mining calculator.
If you really want to try PC mining, look for CPU coins, or HDD coins. Those that pay for your CPU power or HDD space, although even there you won't probably earn anything as you'll be competing with people who have dual CPU motherboards and/or multiple 12 TB drives.

crairezx20

legendary

Activity: 1638

Merit: 1046

Mining altcoin can make you earn $1 or more daily but it depends on your mining rig.
I suggest you 2 gtx 1060 to reach near $50 USD every month or earn more depends on the price of the altcoin you mine.

There are other machines that you can mine directly in bitcoin they called it ASIC miner and I think you can make more profit if you buy an ASIC than a GPU miner.

I suggest that you read some thread here https://bitcointalk.org/index.php?board=160.0
If you want to learn how to mine altcoins.
For mining bitcoin guide I think this thread https://bitcointalksearch.org/topic/guide-dogies-comprehensive-bitmain-antminer-s9-setup-hd-1526215 might help you how to setup it.

MintDiceSupport

member

Activity: 154

Merit: 11

MintDice Support

You might be able to mine altcoins with a higher end gpu such as a 1070 gtx but even then it's a crap shoot as they say. Plus, you'll need to factor in electricity costs.

Take a look at the following discussion and read macaccino's post, it's an honest take on the whole mining prospect: https://bitcointalksearch.org/topic/i-am-new-to-crypto-4392300

odolvlobo

legendary

Activity: 4466

Merit: 3391

Mining bitcoins on a PC is a waste of time and money. A PC will mine less than a $1 in a year and cost hundreds of dollars doing it.

If you have a high-end PC, you might be able to earn $1 a day by mining altcoins. Check out NiceHash.

danielles

newbie

Activity: 1

Merit: 0

To be frankly honest, I don't understand this whole bitcoin mining thing. I guess it was made difficult to understand so that it prevented everyone in the world from trying to jump on the bandwagon. But I thought after watching this video on youtube that maybe I might be able to earn something from trying my hand at this.

So I downloaded BitMinter v.1.6.1 and my Hashrate is 0.05Ghps. I'm thinking of installing it on another computer that I won't be using as I've noticed this computer will cause the hashrate to go down to 0.03 depending on what I'm doing.

Truth be told, I'm not looking into earning a ton of money.
I just wanna know if it's possible and if so what the recommended hardware specs are to earn about $50 a month.

I do apologize if this is in the wrong forum area/section.

Thanks for your time,
Danielle

Topic: Newbie & Conservate rate of earning? (Read 158 times)