Should i start to mining???? | Bitcointalksearch.org

ivanst776

legendary

Activity: 1540

Merit: 1003

Quote from: Luk0i52 on August 20, 2017, 10:43:58 AM

Hi everyone i`m a noob of cryptocurrency and i would like to invest some moneye in miming. I wonder if with 2 antminer l3+ could I have a nice profit mining etherenhum or litecoin hoping in a rising of the value.... could you give me some help to decide what's the best way to start.
P.s. sorry for myour bad English but i`m italian

I've made some calculation that if it worthed at the time that I started mining to invest in mining hardware/equipments or buying the currency itself.

In conclusion I have seen that it worthed more to buy the ETH or bitcoin rather than buying the mining rigs and take care of them every hour/day to see if it is working well, paying electricity, taking care of heat, any network fail etc.

MaxDigger

newbie

Activity: 42

Merit: 0

Yes and no, depending on your situation. Mining has been a very profitable venture for a very long time but the best way to answer this would be to start out with a Bitcoin mining calculator.

Viecoin

hero member

Activity: 852

Merit: 500

Mine for your future. You won't be disappointed. Don't mine to pay all of your bills. It might be discouraging.

Madstayler

full member

Activity: 406

Merit: 106

Quote from: NoGems on September 04, 2017, 06:51:31 AM

Quote from: Madstayler on September 01, 2017, 12:56:00 PM

By the way, How much money do I need to start mining? Does anyone know, at least approximately?

One altcoin mining rig have to have at least 4 video cards on board, cpu, PS, 4-8 ram, hard drive, motherboard. Do the math.

Ok, that is pretty much. But how fast it will be paid off?

NoGems

newbie

Activity: 17

Merit: 0

Quote from: Madstayler on September 01, 2017, 12:56:00 PM

By the way, How much money do I need to start mining? Does anyone know, at least approximately?

One altcoin mining rig have to have at least 4 video cards on board, cpu, PS, 4-8 ram, hard drive, motherboard. Do the math.

Zhukov0

newbie

Activity: 60

Merit: 0

Quote from: Luk0i52 on August 20, 2017, 10:43:58 AM

Hi everyone i`m a noob of cryptocurrency and i would like to invest some moneye in miming. I wonder if with 2 antminer l3+ could I have a nice profit mining etherenhum or litecoin hoping in a rising of the value.... could you give me some help to decide what's the best way to start.
P.s. sorry for myour bad English but i`m italian

Do not mine bitcoin if you do not have at least $3k to invest.
You can mine alt's with $1k cpu with good graphic card on it (included in price).

Madstayler

full member

Activity: 406

Merit: 106

By the way, How much money do I need to start mining? Does anyone know, at least approximately?

drubas

newbie

Activity: 57

Merit: 0

Quote from: DaMut on August 29, 2017, 01:33:21 PM

should i start mining ?
the answer can be No and Yes.
everything is depend on yourself,what is your choice.if i was you i will think about it again because it's a long term investment,
you need to spend a thousand dollars just for buying a machine.
No
do not do this if you're going to mine top 5 cryptocurrency,
why?
because if you're mining those coin you should know how much it will be and how high the difficulty.
but,if you can afford to buy a high end or super hardware for mining then you can start to do it.
if you only can afford an average hardware the answer is NO.
Yes
why i said yes when before i said no?
you can start mining and using an average hardware,but you can not mine a top 10 cryptocurrency,
try to mine a newly born altcoin(obviously a good project and well development),
because difficulty and the price are not high yet,
many altcoins you can find in Alternative boards,and i found a lot of undervalued project out there.

so think about it twice

Note : if you're using 2 antminer l3+ it would be better for you to stop mining it,because it's not really profitable.
just buy it the coins directly and hold it,other than spending your money to those machine which is not really profitable in the long run

Best answer from my perspective! Thanks a lot!

B.D.

namjey

member

Activity: 126

Merit: 10

study mining algorithms, difficulties, current trend and common sense about concurrency, then you will be able to make decision.

llzzyy234

newbie

Activity: 54

Merit: 0

There are many websites which help you calculate the cost and income from mining. You can input the type of coin, electric cost, mining machine hash power, etc., all these parameters and get the the conclusion if you want to do the mining.

rcoins0720

full member

Activity: 253

Merit: 100

yess you can mine with that... but dont expect too much because of that specs..
another is
africa example the electricity is cheap there .... if you are located in africa go and mine ...
the dificulty rises so fast and the algorithms and math problems takes time to solve ...
think of it first before you try...

LazyBitInvestor

full member

Activity: 350

Merit: 101

Your professional profile on the blockchain

In what country do u live? Electricity cost?
First - learn basic things.

btcone111

full member

Activity: 266

Merit: 110

Quote from: parat8t9 on August 31, 2017, 03:47:41 PM

Quote from: Luk0i52 on August 20, 2017, 10:43:58 AM

Hi everyone i`m a noob of cryptocurrency and i would like to invest some moneye in miming. I wonder if with 2 antminer l3+ could I have a nice profit mining etherenhum or litecoin hoping in a rising of the value.... could you give me some help to decide what's the best way to start.
P.s. sorry for myour bad English but i`m italian

I've made the mistake of buying asic miners in the past and I feel that if I would have just spent that money on BTC, I would have been much better off. GPU mining is a little different since you can use them for gaming, video editing, or resell them if the coin does not become profitable.

Old ASIC miners IMO are like expensive paperweights if they don't see an ROI.

Beginner here. Does ASIC only fit for a specific type of coin?

parat8t9

full member

Activity: 154

Merit: 100

Quote from: Luk0i52 on August 20, 2017, 10:43:58 AM

Hi everyone i`m a noob of cryptocurrency and i would like to invest some moneye in miming. I wonder if with 2 antminer l3+ could I have a nice profit mining etherenhum or litecoin hoping in a rising of the value.... could you give me some help to decide what's the best way to start.
P.s. sorry for myour bad English but i`m italian

I've made the mistake of buying asic miners in the past and I feel that if I would have just spent that money on BTC, I would have been much better off. GPU mining is a little different since you can use them for gaming, video editing, or resell them if the coin does not become profitable.

Old ASIC miners IMO are like expensive paperweights if they don't see an ROI.

Dudeperfect

hero member

Activity: 1190

Merit: 534

Before taking any decision or buying mining hardware, it is recommended to calculate the expected profit because not every coin will give you similar returns. Sometimes you might end up with low rewards as compared to the electricity cost so you have to be extremely careful while conducting mining.

I am involved with Bitcoin since 2014 and never mined any coin because I believe that mining is not everyone's cup of tea. I was about to invest in cloud mining sites but thanks to the senior members, they explained me in detail and it saved my money.

MaxDigger

newbie

Activity: 42

Merit: 0

In order to find out Bitcoin mining profitability you have “mining profitability calculators”.

These calculators take into account the different parameters such as electricity cost, the cost of your hardware and other variables and give you an estimate of your projected profit.

DaMut

sr. member

Activity: 1274

Merit: 263

should i start mining ?
the answer can be No and Yes.
everything is depend on yourself,what is your choice.if i was you i will think about it again because it's a long term investment,
you need to spend a thousand dollars just for buying a machine.
No
do not do this if you're going to mine top 5 cryptocurrency,
why?
because if you're mining those coin you should know how much it will be and how high the difficulty.
but,if you can afford to buy a high end or super hardware for mining then you can start to do it.
if you only can afford an average hardware the answer is NO.
Yes
why i said yes when before i said no?
you can start mining and using an average hardware,but you can not mine a top 10 cryptocurrency,
try to mine a newly born altcoin(obviously a good project and well development),
because difficulty and the price are not high yet,
many altcoins you can find in Alternative boards,and i found a lot of undervalued project out there.

so think about it twice

Note : if you're using 2 antminer l3+ it would be better for you to stop mining it,because it's not really profitable.
just buy it the coins directly and hold it,other than spending your money to those machine which is not really profitable in the long run

jmaresca

member

Activity: 294

Merit: 10

LEGIT AIRDROPS - https://airdrop.buzz

Quote from: Mink1993 on August 29, 2017, 11:57:03 AM

Mining bitcoins has always been a cat and mouse game. The difficulty goes up too fast that you’ll be spending all (if any) profits on newer/more hardware.Your best bet at making money is to mine the most profitable altcoin at that moment using gpu rigs and convert it to bitcoin/fiat daily. Just a newbie advice.

Mink1993 is correct. You need to continue adding hash power to combat difficultly. So in a month from now the same TH/S will not earn as much as the previous month so you will need to continue increasing your hashpower. That's why I prefer cloud Mining over solo Hardware Mining (even though I do both) because it's easier to buy another Terra hash than it is to integrate another hardware miner and power supply into an existing mining operation. Terra hash a day keeps the difficultly away.

Please note: if someone buys 1000 h/S of Moreno on Genesis with my code of 3% off I will
Do the same with their code. Code is "ZOHNkL".

PM so I can verify the purchase and make the purchase with your code.

jmaresca

member

Activity: 294

Merit: 10

LEGIT AIRDROPS - https://airdrop.buzz

Quote from: Luk0i52 on August 20, 2017, 10:43:58 AM

Hi everyone i`m a noob of cryptocurrency and i would like to invest some moneye in miming. I wonder if with 2 antminer l3+ could I have a nice profit mining etherenhum or litecoin hoping in a rising of the value.... could you give me some help to decide what's the best way to start.
P.s. sorry for myour bad English but i`m italian

I think the first thing to start with is your budget. From that number you can then formulate the best course of action based on what you want to invest with. Unless budget is not an issue and you are willing to spend what is needed to reach your mining goal.

Mink1993

newbie

Activity: 42

Merit: 0

Mining bitcoins has always been a cat and mouse game. The difficulty goes up too fast that you’ll be spending all (if any) profits on newer/more hardware.Your best bet at making money is to mine the most profitable altcoin at that moment using gpu rigs and convert it to bitcoin/fiat daily. Just a newbie advice.

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