Title: Personal Mining Post by: neking on July 14, 2016, 12:56:22 PM Hi there. I am new in bitcointalk. Give me chance to share my thing here.
I would like to make mining for my personal daily or monthly income. it is any chance to make bitcoin in home? Please advise me. I am noob for technical thing. so please basic and step by steps. OR give me link to learn. Thank for your help all buddy. neking Title: Re: Personal Mining Post by: shield132 on July 14, 2016, 01:11:16 PM Hi, yes of course you can mine bitcoin in home, but it will be useless if you pay much in electricity and it's also very noisy. For mining, you need bitcoin miner such as antminer or graphics card (with graphics card you can mine also altcoins) and internet access.
Also try to use google. One link which I found: https://cryptocointalk.com/topic/9505-how-to-solo-mine/ Title: Re: Personal Mining Post by: Cuidler on July 14, 2016, 04:11:37 PM The most important factor in mining is electricity cost, because you basically burn electricity in exchange for coins. If you pay over 10 cents per KWh, then your out of profitable mining in my opinion. 10 cents or lower you could start looking at GPU altcoin mining, and if your the lucky one with 5 cents or lower, you might consider Bitcoin mining.
But mining generate heat and noise, so you must consider this as well if you have good place for the miner in your house. The noise from Bitcoin miners is higher than you can accept in living room in my opinion. Title: Re: Personal Mining Post by: Raimonn on July 14, 2016, 07:38:09 PM Hi there. I am new in bitcointalk. Give me chance to share my thing here. I would like to make mining for my personal daily or monthly income. it is any chance to make bitcoin in home? Please advise me. I am noob for technical thing. so please basic and step by steps. OR give me link to learn. Thank for your help all buddy. neking If you want to mine on home you need to have a good internet connection and cheap electricity costs. If you have this two things, you can buy an S-9 and start mining. But if you don't have cheap electricity forget mining. Title: Re: Personal Mining Post by: leowonderful on July 14, 2016, 11:19:45 PM Hi there. I am new in bitcointalk. Give me chance to share my thing here. I would like to make mining for my personal daily or monthly income. it is any chance to make bitcoin in home? Please advise me. I am noob for technical thing. so please basic and step by steps. OR give me link to learn. Thank for your help all buddy. neking If you want to mine on home you need to have a good internet connection and cheap electricity costs. If you have this two things, you can buy an S-9 and start mining. But if you don't have cheap electricity forget mining. Title: Re: Personal Mining Post by: Gahs on July 15, 2016, 10:21:49 AM He doesn't need to buy the S7-LN only to buy the S9 later, he can start learning with the S9. I would advice you to join a mining pool at first, hang out with other miners, learn the tricks and know the best way to make profit. When you are ready, then you can mine solo.
Title: Re: Personal Mining Post by: notlist3d on July 16, 2016, 05:23:06 AM He doesn't need to buy the S7-LN only to buy the S9 later, he can start learning with the S9. I would advice you to join a mining pool at first, hang out with other miners, learn the tricks and know the best way to make profit. When you are ready, then you can mine solo. Honestly you don't need to sign up for a pool much in advance. At this point pool's for the most part are very simple to setup and use. Some pool's do have loyal userbases they actually tend to talk here on this forum, not really much to do on pool page but monitor after miner is setup. And miners at this point have GUI's that are great. S7/S9 both very simple GUI's to learn/use. Before buying any miner he should do ROI math. I don't think there is really trick's in mining that i can think of. I know this is overly simple but keep cost low... and profits higher then cost's. At some point you might sell a miner depending on your electricity price, but again no trick to this. Title: Re: Personal Mining Post by: CoinBreader on July 16, 2016, 10:54:08 AM just 2 questions first whats you local $/kw look like and second whats your estimate capital you wanna throw in,
dont even bother mine with GPU lots of time/power/small profit and a shitload of configurations/bios updates for each algo (been there done that ;) ) but back then there was no asics :'( Title: Re: Personal Mining Post by: leowonderful on July 16, 2016, 12:04:35 PM He doesn't need to buy the S7-LN only to buy the S9 later, he can start learning with the S9. I would advice you to join a mining pool at first, hang out with other miners, learn the tricks and know the best way to make profit. When you are ready, then you can mine solo. LN'S are already almost as cheap as they can get. The resell price of the machines is relatively high, especially when bundled with a PSU. No reason not to buy one, the S9 is a bit harder to sell and currently overpriced(imo). Solo is definitely a bad choice with only a few miners, and you'll need a lot of troubleshooting and things like that. With the price of miners like an S5 around 130 on eBay(again, assuming you're reselling right now instead of the future), you could easily get 300 out of an LN. They're probably the most cost-effective miners for people with cheap electricity right now, but really, it all depends on how much you pay per kw. Title: Re: Personal Mining Post by: dotcomwriter on July 16, 2016, 08:11:40 PM Looking forward to more information on the same.
Title: Re: Personal Mining Post by: Tupsu on July 17, 2016, 01:43:09 PM Looking forward to more information on the same. just 2 questions first whats you local $/kw look like and second whats your estimate capital you wanna throw in, dont even bother mine with GPU lots of time/power/small profit and a shitload of configurations/bios updates for each algo (been there done that ;) ) but back then there was no asics :'( Title: Re: Personal Mining Post by: sishendaoye on July 17, 2016, 03:36:10 PM Hi, yes of course you can mine bitcoin in home, but it will be useless if you pay much in electricity and it's also very noisy. For mining, you need bitcoin miner such as antminer or graphics card (with graphics card you can mine also altcoins) and internet access. Also try to use google. One link which I found: https://cryptocointalk.com/topic/9505-how-to-solo-mine/ Before you start mining make sure to check the the calculator: http://www.coinwarz.com/calculators/bitcoin-mining-calculator Suppose you got a very rate, then it may still not be profitable, since the difficulty is going up and your income is getting less. My advice to you is to invest that money in bitcoin rather then mining gear. Title: Re: Personal Mining Post by: notlist3d on July 18, 2016, 12:57:44 AM Hi, yes of course you can mine bitcoin in home, but it will be useless if you pay much in electricity and it's also very noisy. For mining, you need bitcoin miner such as antminer or graphics card (with graphics card you can mine also altcoins) and internet access. Also try to use google. One link which I found: https://cryptocointalk.com/topic/9505-how-to-solo-mine/ Before you start mining make sure to check the the calculator: http://www.coinwarz.com/calculators/bitcoin-mining-calculator Suppose you got a very rate, then it may still not be profitable, since the difficulty is going up and your income is getting less. My advice to you is to invest that money in bitcoin rather then mining gear. BIG mistakke using coinwarz when deciding if you should invest. It does not take into account difficulty changes. So great for this period but horrible over time, will make investment look much better then it really is as no difficulty change which is unrealistic. I like bitwisdom personally it allows you to configure it on so many factors. Making it much better for long term ROI, just make sure to change block reward as I don't think they have yet after halving. Title: Re: Personal Mining Post by: neking on July 18, 2016, 08:50:48 AM Hi All,
I really thank and appreciate your information. I agree I just so new for this environment and need to dive more. That why some people said bitcoin mining is cannot make profit. if there anyone who make income with your own mining ? neking Title: Re: Personal Mining Post by: Atomicat on July 18, 2016, 12:12:39 PM Hi All, Yeah, There are some people on this forum who make most of their income from bitcoin mining but you will need a huge investment in the beginning to be able to live off your bitcoin mining income.I really thank and appreciate your information. I agree I just so new for this environment and need to dive more. That why some people said bitcoin mining is cannot make profit. if there anyone who make income with your own mining ? neking Title: Re: Personal Mining Post by: notlist3d on July 18, 2016, 08:12:55 PM Hi All, Yeah, There are some people on this forum who make most of their income from bitcoin mining but you will need a huge investment in the beginning to be able to live off your bitcoin mining income.I really thank and appreciate your information. I agree I just so new for this environment and need to dive more. That why some people said bitcoin mining is cannot make profit. if there anyone who make income with your own mining ? neking For me it's a hobby and a investment. I have spent a decent amount to get my mining area up to par where I can run quite a bit of gear in it as far as hobby mining goes. But luckily a lot of it is initial investment's. I am in it for the long term though I try to hold most of mining, selling for electricity as it does add up. But to be able to "live off your bitcoin mining income". There are so many factors we would need to know how much you have in cost's to live. For most mining as main job is not going to happen. It is a nice side income but it is rather long term on ROI, so it does take a while. The ones that cannot make profit are due to electricity in most cases, some VAT/import taxes can also kill it. But still many that can make profit just takes a while. |