Bitcoin Forum

hi everyone

i am new to mining. How it works and what i need? I am still learning about bitcoin account and their types. I will appreciate your comments.

Thanks  :)

If your new to bitcoin mining then dont bother getting too involved, youve missed the boat on it unless you have thousands to spend on hardware and next to free electricity. If you plan on mining alt coins then your going to need at least 1 decent gpu but preferably several to make a return in investment. Basically bitcoin mining is out the window for you.

To mine bitcoin you there are several way.
1. Your own mining. You need internet connection and very good hardware. If you mine with low hardware you can't get coin easily.
2. Cloud mining. You buy online cloud mining, you don't need good hardware, pay electricity and maintain your miner. You just need buy some hashrate and you can have bitcoin/other coin. Note, buy from trusted cloud mining provider. I hope you want to use my refferal  ;D ;D.
3. Staking, you can mine alternative coin easily, you dont need good hardware. Just keep your wallet balance open and connect to internet. But this way, you need research profitable coin for staking.

When you mine coin, it's depend on your hardware and coin difficulty, if coin difficulty is very high so you only get small amount.

I hope, it's answer your question

mining is not profitable at all these days specially for new one who want to build a small farm.                                                                                                                                                                                                                                                                     

No idea why begginers in bitcoin keep starting from mining. Its like i want to have gold so i will setup a gold mine somewhere, tell me how people.
You need millions of $ to start :>, of course u can get pickaxe and go to mountains to start also ;).

Well i was never interested in mining myself buy as i told you guys i am new to the bitcoin thing i made a thread asking bunch of people and they came up with many types of wallets desktop and web and i was so confused until i made my mind for blockchain,info or multibit but they said some have no transaction charges but they are insecure and some have charges and they are highlu secure but they also told me to mine the stuff through mining and thats the only reason i made this thread as they guided me to make one here otherwise i was not even sure where to go and ask about mining. I dont even know whether it is for extra wallet safety or for earning. I am a noob in these things. All i want is a safe wallet where i can anonymously receive my payments and then i can transfer them to my payoneer card and i am still struggling day and night to find solution so i can start something out but all my efforts are in vain so far.

I am still expecting someone would show up and clear up things and guide me with a clear step by step things to solve my issue

Thanks again though

https://www.bitcoinmining.com/getting-started/
https://bitcoin.org/en/choose-your-wallet
These link will help you to getting started.

Not true so many varibles in it, you cannot go around making blanket statement's.  Some love to go around saying stuff like this "Mining is dead", "Not Profitable", etc.  But with right electricity price it can STILL be done and is being done.

With S9 there was a HUGE jump in efficiency so now more people can mine after having with it.   But many still will mine. I also dabble in Ether for fun, again still can be done.  OP what is your electricity rate?

Mining is a thing that can be done for generating bitcoins. Anyone can start mining with proper knowledge as What currency you want to mine which scrypt support with your hardware for mining. etc and few more. as You want to go for pool mining or solo mining.

I heard from a friend, it is very risky to mining with a laptop.
Is that true?

Not actually It depend hows your computer perform.

In mining there are two types 1) CPU Mining and 2) GPU mining

Different form run separately and used to mine different currency.

Also have to aware of use of cmd to enter into pool.

So by technical part there is no risk to use computer cpu or gpu power use for mining.

But second part is the power is generated by such computer or laptop is very low compare to Mining Hardware.

Just choose in the different types of mining if you want altcoin go in altcoin you can mine there using GPU
In bitcoin you should need a asic miner like antminer s5 s7 or s9 that you can mine bitcoin with those hardware..

This is right, it's depends on how much difficulty the coin. But in the end mining with laptop is not really worth anymore, unless mining new coin, but it risk to mining new altcoin, easy to manipulate. Just need a research first to the coin development.

if you are new and you want a complete knowledge about bitcoin. so i will suggest you to visit you tube and search there. i am hopeful that there you can get a complete description of mining. you can find answer of your all questions there.

Bro I suggest you to Stay away From Mining Because Now a days Mining is Not Profitable Because the Halving is coming and on Halving Reward For solving a Block Is Remain Half......
So Stay away From Mining!!!!!

To add to the above.  If you are looking to mine your own, please make sure you are in a good pool or be prepared to invest a lot of money, thousands.  When it comes to cloud mining, STAY AWAY FROM IT, they are mostly scams and the ones that are real will have your money ties up in it for a long period before you get your full investment back.  Last, when mining alternative coins, you need to do your research first.  There are some coins you can mine which you can not trade for there is no market for them.  Just keep doing your research and you will be ok.

How can you say that mining is not profitable anymore and if it's not profitable anymore, why miners still operating their mining hardwares?, If you ask me mining will still profitable even though that the halving is near because the price is adjusting for the miners to not shutdown their mining hardware. So if the price is still high it will still profitable for miners of bitcoin.

To start mining, you need a good computer with good components, especially the graphics card that will improve your profit from mining.
If you want more information about mining, I advice you to see here:
https://bitcointalk.org/index.php?board=14.0

I am new in the world of mining but i knew a little about btc and i had also that normal laptop computer cant be use in mining?

It can be used, but it's not profitable these days.

Thank you so much guys. I have now made my mind to stay away from mining as much as possible as all it gives me are the chills that it doesn't worth it. I better just get a multibit or a good wallet and get payments from people and figure out a way on how to transfer those to my payoneer card so i can get them out in dollars on the atm. Hate mining now. End of the story.

Thanks again for making up my mind

I think you have made a very wise decision when it comes to staying away from mining.  We have investors who are willing to dump $50k USD into mining and we will not touch it with a 50' pole.  There is to much competition and with these mining farms out there it is like throwing money into the wind.  Good luck with what you do.

Really? Even at the moment when the price o btc is coming down.

i am also new , hope i will learn about it from here

Making any significant money with mining is a pipe dream. It's not 2010 anymore. There are much better ways to make real money with btc. PM for details if interested.

I think it is better if he just mined with whatever computer he has just to learn how it is done and so he ca start some transactions going with the minig pool and learn about withdraws and deposits maybe put some btc into a game or investment game or faucet.

You must have a proper hardware and internet connection to mine some bitcoins. The first thing you should.check is the electricity. Is it affordable or cheap. If the electricity in your area is cheap, you can earn a profit. But if the electricity is not cheap or high cost, you can still earn but its too small. So think about it.

You don't have to hate mining, you can still make some profit mining ETC - ethereum classic ( a new altcoin) with only your desktop.