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BTC

Hi Everyone,

I'm new to the world of Bitcoin. I just started trading BTC. Having finished  "Digital Gold" by Nathaniel Popper and currently reading "Mastering Bitcoins" by Andrew Antonopoulos. I'm really fascinated by BTC. I understand mining can be expensive these days and requires ASIC miners. But I want to give it a try out of curiosity. Is there any ASIC miner that you recommend for BTC mining beginners? Thanks!!

i would suggest you to try renting mining rigs first before buying ASIC if you want to try mining and see if it will be profitable for you or not, just take notice of the amount of bitcoins you can mine everyday, your electricity cost and the cost of the miner rig. check here for renting rigs

https://www.miningrigrentals.com/

Hi Mark,

Thanks for your suggestion. Unfortunately, the service is not available in my country. Is there any ASIC miner or other alternative which you would suggest?

Profitability depends mostly on your electricity cost. Read through mining section and i am sure you can find all answers for your self, here is the link:


https://bitcointalk.org/index.php?board=14.0


Personally, i was playing with usb block erupters for a while but it is not worth of effort. In my opinion, Bitcoin mining can be profitable but not for average Joe.

i'll follow this thread, hope you get the answer mate me too

Back in the first days of bitcoin, it would of been worth it for anyone with a PC and power to mine. Nowadays you are competing with vast farms of servers, being powered by hydro electric dams - the only way you'll earn bitcoin is being very lucky or contributing serious hardware to a bigger pool.

You need a serious investment here. Otherwise, you'll spend more on electricity than you will get back. It's like a 1:1000 ratio

Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.

If you are just want to study and learn how to mine bitcoin you can try asic usb i think the cheap cost of usb miner is around 10-20 usd
then you can start usb mining for just study purposes.. Honestly its not profitable right now but if this is for study purposes it can help to learn how to mine..

I would go for the compac as far as learning from a USB miner.  It is the most current stick miners, and very good to learn from.  I would also suggest getting a RPI to use as a low power controller.

Also with RPI you might learn a little more about commands in mining programs.  Also learn about linux.  So lots of possibilities of learning if you want them.  And if you want small and plug and play there is always R1's.  They are pretty much plug in info and they work.

Hi notlist3d,

Thanks for your input. I already have rpi2 and will check out for compac USB miners. Is there any tutorials videos or site that you recommend?

don't mine bitcoin, mine altcoin and dump for bitcoin, i'm doing this right now and it's fucking profitable

1 gpu = 0.01-0.02 earning per day, with an insignificant consumption of 166w, comapre this to an asic the best is the s7 for now, one consume 1200watt and give you 0.015, which is terrible in comprison

Sounds interesting. I'm a total newbie. Is there any tutorial for alt-coin mining on mac OS X? Thanks!

The old gridseed usb miner (5 chip, not the legit usb) was amazing. Now, if you're talking scrypt, the performance still rakes in a penny a day with electricity. Coin switching pools for scrypt can make you profit with the Gridseed 5 chip, but not much. It's a cheap way to get started, and the btc mode is obsolete but nevertheless its still very fun to do now and then. If there is no fan on a gridseed, use a usb one. It'll get enough air out for btc mining.

I had also a gridseed which i bought directly from China but it was more fun and experience and learning how to mine with such a small mining rig, nowadays these does not worth, but what worth these days is one or some s7, and if electricity is cheap/free than this is the perfect combination.

yes, try on cryptoblog, you can also find it by searching on the web, or simply ask in the alt section

where you come from..?
i think miningrigrentals avaible  for everyone, because it's only "rent a rig" to mining bitcoin/altcoin, then you can seetup with your favorit pool.

you can use https://www.nicehash.com/ for alternative

Thank you for the link. I also want to see this but just for knowledge.

Thanks! Will look it up! :)


I'm from India. Most of the ASIC miners and renting mining rigs is not available :(

I think if you go to google and search you will find their are some users who are selling from india, and even you can go and check market place  digital goods or mining section their you will find the indian miners , you can check with local boards , India, you will find it,

If you are going to mine i will suggest to go with alt coins and their are so many coins new with reward are coming in alt coin section you can get new alt coin details  for mining

ASIC miners are not to biginners, they're expensive and difficult to maintain, so try out using your own PC, or buy some BTC and invest in a reliable site.

I don't think normal people will mining BTC at home expected they have free electrical power because it will not ROI. Home users can mining ETH with GPU and still can get ROI this moment.

Can you share a summary of what you've learned so far? I'm a newbie too, and still don't understand a lot of things. Would appreciate any help. :)

Lol anyone can mine for study purposes i recommend cheap usb asic miner but its not profitable but if you are just starting as beginners it can help to learn how asic miner works.. so if he know how to setup asic miner and how it work he can start buy expensive one to generate bitcoin fast..