Newbie Interested on Mining | Bitcointalksearch.org

Mi5h0

sr. member

Activity: 560

Merit: 273

Quote from: reighbut2017 on January 30, 2018, 07:59:45 AM

I'm new and interested on mining but I don't know where to start.

You'll have to be more specific than that... There are tons of tutorials on youtube or other helpful sites; just look it up on google.

Basic steps would include the following:
1. Pick a coin you'd like
2. Get a mining rig
3. Download a wallet
4. Find a mining pool
5. Get a mining software for your computer
6. Start mining!

Maybe it would be easier just to buy coins with the money you plan to spend on mining?

reighbut2017

jr. member

Activity: 252

Merit: 2

I'm new and interested on mining but I don't know where to start.

neo444

full member

Activity: 434

Merit: 102

For mining you must to have a strong pc and you must to becareful of scam mining sites you can visit that site badbitcoin.org to make a verification before mining

amzad

member

Activity: 172

Merit: 10

Bitcoin is the currency of the transaction. In 2008, Satoshi Naakamoto introduced this coin. He called this currency as peer-to-peer transaction. Bitcoin transactions are protected by a server named Bitcoin Miner. If there is a bitcoin transaction between peer-to-peer communication systems in multiple computers or smartphones, its central server user laser updates. As soon as a transaction is completed, new bittacquines are produced. By 2140 new bits of bits will be reduced to half every four years. After 2140, 21 million Bitcoins will not be produced and no new bits will be made.
Feeling very difficult? There is no problem. If you know how much a bitcoin is equal to dollar, you will get crazy to earn Bitcoin. The current price has decreased some 1 BTC = 10832 $

siagh357

newbie

Activity: 143

Merit: 0

You must aqcuire the hardware for mining, acquire knowledge in mining setups while preparing yourself to pay huge electricity cost for mining. You will need to join a mining pool and pay a fees and the same time maintain the mining hardware. As individual, mining isnt profitable and is never recommended if you don't have the required knowledge to make things work.

munir15

newbie

Activity: 76

Merit: 0

Hello im new in this forum i need help how can i do in mining and what shoul i do first before go to mining.thank you

maskal89

copper member

Activity: 13

Merit: 0

checkout butst coin, proof of capacity mining. it saves electricity.

darkangel11

legendary

Activity: 2478

Merit: 1360

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

Quote from: mcs_john on January 20, 2018, 02:33:02 AM

Hello,

A good place to start for beginners is NiceHash. You will in fact sell your hashing power to buyers and you will get paid in BTC. Another place like this is minningpoolhub.

Cloud mining isn't mining! It's about time people stopped inviting others to join this unprofitable business that's taking advantage of people who can't do math and are too lazy to do some research.

Quote from: LtMotioN on January 20, 2018, 12:30:23 PM

If you want to mine an actual altcoin and not indirectly mine BTC via nicehash https://whattomine.com/ is a good place to check whats best to mine for what hardware you have.

Like the other guys said, cooling is very important.

Oh yea, another one...
Indirectly mine? Meaning you give your money to someone else and believe that person is going to mine for you. How is that different from gambling?
First rule of cryptocurrencies - you control your private keys.

OP if you want to mine yourself try something that's cheap and easy like HDD -based cryptocurrencies. For example burst. THe setup won't cost you much and won't consume a lot of power. If you like the idea you'll easily be able to increase your mining power or sell the equipment and buy a gpu rig or anything else.

LtMotioN

member

Activity: 210

Merit: 29

If you want to mine an actual altcoin and not indirectly mine BTC via nicehash https://whattomine.com/ is a good place to check whats best to mine for what hardware you have.

Like the other guys said, cooling is very important.

mcs_john

jr. member

Activity: 68

Merit: 1

Share your merit with me if I was helpful :)

Quote from: MattDylanBashedon on January 20, 2018, 11:33:54 AM

Hi, beambee18, we are both newbies on this forum and both interested on mining..
all of them are talking about consumption on electicity..
i did a little bit of research, and found out that most of the sites on mining provides calculator that gives you the idea on how much you will get at the end.

see below link as sample:
https://www.cryptocompare.com/mining/calculator/eth?HashingPower=20&HashingUnit=MH%2Fs&PowerConsumption=140&CostPerkWh=0.12&MiningPoolFee=1

You can also check https://whattomine.com/ which provides information on profitability for different GPUs and algorithms, including power costs. Another place to check can be nicehash profitability calculator.

Crytptohack

member

Activity: 126

Merit: 15

HodL!

Mining POW coins/tokens requires a lot of energy as your pc(s) need to be running 24/7. There are specific mining rigs like the antminer that you can purchase, but many are expensive. (Some are even sold out)

You can generate coins another way with coins that are Proof of Stake (POS). You purchase the coins and leave them in your wallet with your PC running. It will generate additional coins based on how many you have. So in essence, they are dividend paying coins.

It is one way to generate a passive income that does not use a lot of electricity other than leaving your pc on. (Which is not trying to execute algorithms to complete a blockchain)

MattDylanBashedon

newbie

Activity: 10

Merit: 0

Hi, beambee18, we are both newbies on this forum and both interested on mining..
all of them are talking about consumption on electicity..
i did a little bit of research, and found out that most of the sites on mining provides calculator that gives you the idea on how much you will get at the end.

see below link as sample:
https://www.cryptocompare.com/mining/calculator/eth?HashingPower=20&HashingUnit=MH%2Fs&PowerConsumption=140&CostPerkWh=0.12&MiningPoolFee=1

beambee18

newbie

Activity: 5

Merit: 0

hello, in my own opinion, you really need more knowledge about mining or else you will end up losing your hardware, and you need big capital in order to run mining.

BTCMILLIONAIRE

hero member

Activity: 1358

Merit: 834

Quote from: ThreeForty on January 20, 2018, 08:06:07 AM

Quote from: BTCMILLIONAIRE on January 20, 2018, 07:03:52 AM

Make sure to check your electricity price first. If it's above ~5 cent per KWH you won't be competitive in the long run. In the short term you'd be fine even with 20-30 cents, but that can change very quickly.

Keep in mind that you can very easily brick your hardware if you don't know what you're doing, which could end up losing you GPUs before you even created any profit from them. Read up as much as you can and then do the Math to see if it's worth to start mining for you or not.

If your not familiar with overlooking your PC, then I would highly suggest doing a quite a bit of reading, along with some trial and error. I have burned up a cpl processors back in my early days with not having proper cooling.

Cooling usually won't be a concern (unless you live in the desert) with mining rigs, because it usually involves undervolting to save on electricity bills. If you do it in too large steps you can still fry your cards though.

ThreeForty

newbie

Activity: 30

Merit: 0

Quote from: BTCMILLIONAIRE on January 20, 2018, 07:03:52 AM

Make sure to check your electricity price first. If it's above ~5 cent per KWH you won't be competitive in the long run. In the short term you'd be fine even with 20-30 cents, but that can change very quickly.

Keep in mind that you can very easily brick your hardware if you don't know what you're doing, which could end up losing you GPUs before you even created any profit from them. Read up as much as you can and then do the Math to see if it's worth to start mining for you or not.

If your not familiar with overlooking your PC, then I would highly suggest doing a quite a bit of reading, along with some trial and error. I have burned up a cpl processors back in my early days with not having proper cooling.

BTCMILLIONAIRE

hero member

Activity: 1358

Merit: 834

Make sure to check your electricity price first. If it's above ~5 cent per KWH you won't be competitive in the long run. In the short term you'd be fine even with 20-30 cents, but that can change very quickly.

Keep in mind that you can very easily brick your hardware if you don't know what you're doing, which could end up losing you GPUs before you even created any profit from them. Read up as much as you can and then do the Math to see if it's worth to start mining for you or not.

bitcoin_green

jr. member

Activity: 58

Merit: 3

Quote from: MattDylanBashedon on January 20, 2018, 01:19:43 AM

Hi, i am new on this forum.. i dont know much about bitcoins but i been watching some videos already on Youtube.
And i am interested to learn more about Mining.
can anyone give me some advice on how to start?

Mining is quite easy to do at the lower level (you can mine on your computer/laptop) but it gets quite complicated when scaling up. You can mine somewhat efficiently on a powerful gaming computer. But then there's real miners. It requires a large industrial space to run miners. Miners are very loud and require massive amounts of electricity. To do it at this level you need a warehouse, electrical work, and a proper cooling system.

MattDylanBashedon

newbie

Activity: 10

Merit: 0

Thank you @mcs_john, I'll check it out..

mcs_john

jr. member

Activity: 68

Merit: 1

Share your merit with me if I was helpful :)

Hello,

A good place to start for beginners is NiceHash. You will in fact sell your hashing power to buyers and you will get paid in BTC. Another place like this is minningpoolhub.

MattDylanBashedon

newbie

Activity: 10

Merit: 0

Thanks, Please if you can provide me some links to study on the types of coins to mine.

theflyingfury

newbie

Activity: 29

Merit: 0

Hello,

First you need to decide upon which coin you want to mine because every coin acts upon different algos.

MattDylanBashedon

newbie

Activity: 10

Merit: 0

Hi, i am new on this forum.. i dont know much about bitcoins but i been watching some videos already on Youtube.
And i am interested to learn more about Mining.
can anyone give me some advice on how to start?

Topic: Newbie Interested on Mining (Read 252 times)