Newbie trying Mining | Bitcointalksearch.org

PokerFace3

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Quote from: JANGKRIK BOSS on March 15, 2017, 09:50:23 PM

Quote from: Iranus on March 15, 2017, 02:36:14 PM

Quote from: Gintama214 on March 14, 2017, 11:08:14 AM

Quote from: VRobb on March 14, 2017, 10:53:52 AM

Yes you need hardware, and if you want max possible ROI DO NOT point your miner to Antpool or any of the other pools that don't give up the txn fees. That's a ripoff.

What would your recommendation as a newbie? of course I can't buy high end hardwares right away. Where should I start? .should i get the USB type hardware?. and join in a pool mining website?

You need to slow down. You can't expect to genuinely just buy and earn straight away. In most cases you won't make any ROI for at least a couple of years.

You need to think about:

-Electricity costs in your area (if they are not extremely low you will not genuinely profit)
-Future difficulty - are you ready for the next block halving? Are you reading for any other factors which may apply?
-Financial stability - should Bitcoin temporarily fall significantly, are you ready to keep storing it until it's high enough for you to use?

Yes correct, apart from technical stuff, many things to consider. If we measure with current bitcoin price ($ 1,250), surely the cost of electricity at maximum is 12 cents, other considerations are also important, so recalculate everything is wise.

Also the price of the hardware that he wants to buy is important as well.
If you can find cheap good miners from the manufacturer itself it is better, if you are going to buy a second hand one from amazon or ebay and get ripoffed that would be bad. Try to always buy directly from manufacturer.

JANGKRIK BOSS

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Quote from: Iranus on March 15, 2017, 02:36:14 PM

Quote from: Gintama214 on March 14, 2017, 11:08:14 AM

Quote from: VRobb on March 14, 2017, 10:53:52 AM

Yes you need hardware, and if you want max possible ROI DO NOT point your miner to Antpool or any of the other pools that don't give up the txn fees. That's a ripoff.

What would your recommendation as a newbie? of course I can't buy high end hardwares right away. Where should I start? .should i get the USB type hardware?. and join in a pool mining website?

You need to slow down. You can't expect to genuinely just buy and earn straight away. In most cases you won't make any ROI for at least a couple of years.

You need to think about:

-Electricity costs in your area (if they are not extremely low you will not genuinely profit)
-Future difficulty - are you ready for the next block halving? Are you reading for any other factors which may apply?
-Financial stability - should Bitcoin temporarily fall significantly, are you ready to keep storing it until it's high enough for you to use?

Yes correct, apart from technical stuff, many things to consider. If we measure with current bitcoin price ($ 1,250), surely the cost of electricity at maximum is 12 cents, other considerations are also important, so recalculate everything is wise.

Iranus

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Quote from: Gintama214 on March 14, 2017, 11:08:14 AM

Quote from: VRobb on March 14, 2017, 10:53:52 AM

Yes you need hardware, and if you want max possible ROI DO NOT point your miner to Antpool or any of the other pools that don't give up the txn fees. That's a ripoff.

What would your recommendation as a newbie? of course I can't buy high end hardwares right away. Where should I start? .should i get the USB type hardware?. and join in a pool mining website?

You need to slow down. You can't expect to genuinely just buy and earn straight away. In most cases you won't make any ROI for at least a couple of years.

You need to think about:

-Electricity costs in your area (if they are not extremely low you will not genuinely profit)
-Future difficulty - are you ready for the next block halving? Are you reading for any other factors which may apply?
-Financial stability - should Bitcoin temporarily fall significantly, are you ready to keep storing it until it's high enough for you to use?

ironm@n

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For Bitcoin mining, only ASICs, and it would be very difficult to get ROI, but if your purpose is to support the network, I think it's a good initiative.

maydna

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Quote from: Gintama214 on March 14, 2017, 02:22:55 AM

Good day, I just wanna ask if is it possible for me to mine using a macbook? Or do I really need to but ASICs Hardware? if so which one is the best to buy? Thanks

its better for you to buy hardware to start mining but before you buy, better you decide what coins you want to mining because its related with the profit that you want get for daily. my suggestion is better you buy a new personal computer with vga card and i think, you need to buy some vga card inside the computer, not just 1 piece but try to buy at least 4 or 6 piece of vga card, setting it, choose the right coins and start mining. you can try to visit hashnest for bitcoin mining, alibaba.com and aliexpress to see the other option for mining.

VRobb

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Quote from: Gintama214 on March 14, 2017, 11:08:14 AM

Quote from: VRobb on March 14, 2017, 10:53:52 AM

Yes you need hardware, and if you want max possible ROI DO NOT point your miner to Antpool or any of the other pools that don't give up the txn fees. That's a ripoff.

What would your recommendation as a newbie? of course I can't buy high end hardwares right away. Where should I start? .should i get the USB type hardware?. and join in a pool mining website?

The current, most efficient mining machines all run about a grand apiece depending on which one you get, whether a PSU's needed, etc... You could do ok with a used S7 - you can find them for a few hundred dollars now. Stick that on a pool that has low fee and gives the txn fees to the miners and you should do a few bucks a day ($3.xx) average at current diff. A USB miner will only be useful as a lottery ticket - you'll either never make ROI or come out WAY ahead if you luck-out and hit a block for over $14000!!!

mocacinno

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Quote from: Gintama214 on March 14, 2017, 11:08:14 AM

Quote from: VRobb on March 14, 2017, 10:53:52 AM

Yes you need hardware, and if you want max possible ROI DO NOT point your miner to Antpool or any of the other pools that don't give up the txn fees. That's a ripoff.

What would your recommendation as a newbie? of course I can't buy high end hardwares right away. Where should I start? .should i get the USB type hardware?. and join in a pool mining website?

No, usb miners are ok to teach you the basics of mining, not to make a profit. You'll pay more for your power than you'll earn. Even if you have free power, it 'll take ages to break even on the hardware cost.
Please read my previous post.

Gintama214

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Quote from: VRobb on March 14, 2017, 10:53:52 AM

Yes you need hardware, and if you want max possible ROI DO NOT point your miner to Antpool or any of the other pools that don't give up the txn fees. That's a ripoff.

What would your recommendation as a newbie? of course I can't buy high end hardwares right away. Where should I start? .should i get the USB type hardware?. and join in a pool mining website?

VRobb

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I'm in BTC XTC

Yes you need hardware, and if you want max possible ROI DO NOT point your miner to Antpool or any of the other pools that don't give up the txn fees. That's a ripoff.

Gintama214

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Quote from: stromma44 on March 14, 2017, 09:47:54 AM

Quote from: Gintama214 on March 14, 2017, 09:34:02 AM

Quote from: VRobb on March 14, 2017, 07:25:02 AM

Yes you really need to buy a miner to mine btc. You'll use your MacBook to set it up, though! Latest generation machines are the R4 and S9 from bitmain, Avalon 741 from Canaan.

Thank you for your advice, VRobb. To set it up whats the best website to mine?.

Poolmining is better then solomining,below is list of top 10 bitcoin mining pools
1. AntPool
2. DiscusFish/F2Pool
3. BitFury Pool
4. BTCC
5. ViaBTC
6. BW Pool
7. BTC.Top
8. Slush
9. Bitclub.Network
10. GBMiners

So poolmining is better right? how does it work?. Do i still need a hardware right?

VRobb

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I'm in BTC XTC

Quote from: Gintama214 on March 14, 2017, 09:56:25 AM

Quote from: VRobb on March 14, 2017, 09:38:16 AM

For pool mining I'm partial to kano.is

For solo mining I have my failover set to solo ckpool.

Both of these pools have support threads in the Pools forum area.

So which one is much more ideal that I can earn more? by solo or pool ?

Unless you're running PH levels of hash, pool is the way to go. Solo would be like playing the lottery - you might get lucky, you might not...

Gintama214

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Quote from: VRobb on March 14, 2017, 09:38:16 AM

For pool mining I'm partial to kano.is

For solo mining I have my failover set to solo ckpool.

Both of these pools have support threads in the Pools forum area.

So which one is much more ideal that I can earn more? by solo or pool ?

stromma44

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Quote from: Gintama214 on March 14, 2017, 09:34:02 AM

Quote from: VRobb on March 14, 2017, 07:25:02 AM

Yes you really need to buy a miner to mine btc. You'll use your MacBook to set it up, though! Latest generation machines are the R4 and S9 from bitmain, Avalon 741 from Canaan.

Thank you for your advice, VRobb. To set it up whats the best website to mine?.

Poolmining is better then solomining,below is list of top 10 bitcoin mining pools
1. AntPool
2. DiscusFish/F2Pool
3. BitFury Pool
4. BTCC
5. ViaBTC
6. BW Pool
7. BTC.Top
8. Slush
9. Bitclub.Network
10. GBMiners

NeuroticFish

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Looking for campaign manager? Contact icopress!

Also look around, there's a good chance you can get profit from altcoin mining, there are some altcoins you can mine nicely with GPU and you can get profit even if your electricity is a little more expensive than the 7-8 cents.
Of course, you will have to ask in altcoin mining area for more help in this.

mocacinno

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https://merel.mobi => buy facemasks with BTC/LTC

Quote from: Gintama214 on March 14, 2017, 09:34:02 AM

Quote from: VRobb on March 14, 2017, 07:25:02 AM

Yes you really need to buy a miner to mine btc. You'll use your MacBook to set it up, though! Latest generation machines are the R4 and S9 from bitmain, Avalon 741 from Canaan.

Thank you for your advice, VRobb. To set it up whats the best website to mine?.

One step back...
In order for you to mine profitably, you need:

A latest gen ASIC (see VRobb's post)
Really, Really, Really cheap electricity (i mean, less than 7-8 cents/kwu). If you pay more/Kwu, not even a brand new ASIC will earn you some money
A mining room, A/C, soundproof, no dust, good wiring, shelves,...
Technical knowledge to set everything up and keep it running 24/7

Don't forget: sometimes you need to buy a seperate PSU, seperate controllers,... Also, custom duties and shipping/handling can be a pain, and especially in the case of bitmain, their support isn't that great, their gear has 3 months of factory warranty and is know to break easily.

Before you even THINK about investing in gear, or chosing a pool, do the math to find out if you CAN THEORETICALLY mine with profit... If there isn't a theoretical chance to make money, forget about mining altogether...

VRobb

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I'm in BTC XTC

For pool mining I'm partial to kano.is

For solo mining I have my failover set to solo ckpool.

Both of these pools have support threads in the Pools forum area.

Gintama214

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Quote from: VRobb on March 14, 2017, 07:25:02 AM

Yes you really need to buy a miner to mine btc. You'll use your MacBook to set it up, though! Latest generation machines are the R4 and S9 from bitmain, Avalon 741 from Canaan.

Thank you for your advice, VRobb. To set it up whats the best website to mine?.

VRobb

hero member

Activity: 1610

Merit: 538

I'm in BTC XTC

Yes you really need to buy a miner to mine btc. You'll use your MacBook to set it up, though! Latest generation machines are the R4 and S9 from bitmain, Avalon 741 from Canaan.

Gintama214

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Activity: 462

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DONATION SENPAI PLEASE <3 <3

Good day, I just wanna ask if is it possible for me to mine using a macbook? Or do I really need to but ASICs Hardware? if so which one is the best to buy? Thanks

Topic: Newbie trying Mining (Read 1255 times)