Bitcoin Forum

I am an absolute beginner . As I start to mining . There is much information about, what is right .

The most important information for a beginner is:

Don't start to mine if you want to make a profit!

Mining nowadays is impossible with general-purpose hardware (CPU & GPU).
Special-purpose bitcoin hardware is pretty expensive and can only yield a profit if

• you get it quickly enough after it starts being available (because on one hand, difficulty adjusts to adapt to total mining power, which is normally increasing, and in addition, newer miners have better hash performance per consumed energy)
• your electricity is cheap enough (otherwise mining rewards will not be enough to pay for the miner operation)
• you get the miner cheap enough so that at one point your mining rewards minus operating costs exceed investment costs

As a beginner, you are very unlikely to meet all three requirements, so the chances are high that your mining business will be lossy.

Onkel Paul

By the way, your signature advertises a "service" that claims to yield 100% monthly profit for bitcoin investments. This is impossible to achieve, that service is with absolute certainty a scam. Well maybe it works if you happen to find "BITCION" to invest...

+1 for what OnkelPaul said...

However, If you want to learn how to mine, for fun, i would suggest one of the following 2 things:

• mine an altcoin with (very) low diff... I would suggest magicoin, since it's cpu minable with an adapted version of cpuminer... Just look at their website, sign up for a pool, and read the how-to start guide of the pool
• invest a very little bit of money in a second hand asic (a piece of hardware built to hash). Probably an old gridseed gc3355, an antminer u1 or u2, or anything else that costs less than $30 (you'll never ROI, so you basically have to see this investment as an investment into learning the basics, not an investment on which you'll make profit). Search google on how to setup the piece of hardware you've just bought, et voila :)

Actually, tell us your electricity cost, location and overall temperature where you live and we can help you kick off with a ballpark of its even possible for you to profit from mining or not.

If its over 0.08$/kWh i would not every try. If you're better on the BTC value raising, you can do 0.1$/kWh or lower. Under 0.05$/kWh you can get one or two generation old miners for cheap and secure your ROI in 2-4months, which really cut down on the risks.

Long story short, if you done have free power, better try trading.