Bitcoin Forum

Hello, i'am very new to BitCoin.

I'am interested in mining with my Dell i7 Laltop which iam running linux on.

Could someone please explain to me what steps i need to follow in order to have my Arch Linux mine Bitcoins or LiteCoins because its easier?

I would highly appreciate your help.

My advice: stop right there, don't mine with your laptop... Period.

Years ago, people could mine bitcoins with their CPU, then people found they could reach a much higher hashrate using their GPU, making CPU mining obsolete.
A short while later, companies found a way to produce chips with the sole purpose of creating sha256 hashes, they put these chips into so-called ASIC's. An outdated ASIC is thousands of times faster than your i7, using only a fraction of the electricity, so mining with your CPU is completely obsolete.

Nowaday, you can only mine bitcoin or litecoin using an ASIC, using anything else will produce so little hashrate you would literaly have to mine for years to reach the minimal payout at a mining pool. It would literaly be more cost-efficient to claim bitcoins from faucets (making $1-$3/day in the process).

A good ASIC would be an antminer S7 or S9, but at  this point, you need one of these AND a super low electricity rate to even try to break even (plus, you need good PSU's, shelving, cooling, technical knowledge).

NEVER use a laptop to CPU/GPU mine Bitcoins, even if you think you have adequate cooling.

Your answer have been provided even though I have not tried mining, I have read on several threads that its not economical to mine Bitcoin these days when there are large farms in China doing that and you want to compete with them, but would love to read others comment. But since your system has a high spec why dont you divert it to something else I am sure when you surf the forum you will see the need for it and will eve be more worthwhile than mining.

Okey then i won't use my laptop for mining!

I also heard about cloud-mining.
Can i use those for mining LiteCoins?

Can you seuggest a good one?
How much will it cost per month for me to pay for resnting it and electricity and what would the profit be?

Avoiding the cloud mining site, if you're wanna for using the cloud mining site are like just wasting your money into the dark hole. the best one is trying for collecting your amount before and buying a miner tool like usb mining tool if you're not enough money for buying a large mining tool like s9.

You're correct about cloudmining: think about this fictive example:

I have a good electricity rate, and buy an S9... If i run my S9, i make 0.01 BTC/day profit... Why would i ever rent out my mining equipment for less than 0.01BTC/day... It just wouldn't make any sense...

So, either cloudminers try to scam you, make you pay more than you'll ever make, or sell the complete risk to you in return for a small fraction of the profits... Neither of these cases are good for you (IMHO).

I don't really agree on your advise for the OP to buy an usb mining stick, nor do i completely agree on advising him to buy an S9.
An usb mining stick will probably never ROI (i did the calculation in a previous post, just to lazy to look it up). An S9 might give the OP some profit, but ONLY if he has a good electricity rate, enough technical knowledge and an appropriate place for his S9. Additional research is defenatly needed before buying any ASIC.

Cloud mining is not profitable and in the long run they turn into scams. For me its not a good,better read and invest something about crypto trading and start practice in small amounts. Trading is feasible and you will learn something valuable that you can also used in stocks trading.Same principles.

I see, thank you for the info you give me to avoid mistakes.

Could you please telle me

1. where to buy litecoins for euros?
2. in what market to trade them?
3. HOW to trade them?

Any info would be valuable for me.

Here, some exchanges with LTCEUR pair:

https://www.kraken.com/

https://therocktrading.com/

https://coinsbank.com/

https://spacebtc.com/

Skip that and rent out your cpu power to nicehash.com and get bicoins in return. It wont be much.

Before doing this, i'd recommand emulating your earning here: https://www.nicehash.com/?p=calc
It's allmost impossible to break even with your CPU after substracting electricity costs.
Also, OP mentioned he'll be mining with a laptop... Since laptop's aren't really made to run 100% over a long time due to their inability to deal with the excess heat, OP might actually ruin his laptop by doing this...

You can buy th litecoins in the reputed sites like Kraken or coinbase and you can start right there is the same sites. At the early time as newbie. All will advise you to learn about the crypto coins and its services and then you can start anything.

I guess LiteCoin Mining is out the question for me.

Let me ask you somethign else:

How about trading BTC instead?

I have 50 euros that i want to use to BUY LiteCoins.

1. Where must i go to make this purchase? kracke.com? I live in Greece.
2. When i buy some amounts of LTC i need to do to yobit.org to start trading? This digital coin market is like a real stocks exchange market?

Please be as simple as you can. Thank you.

You can purchase litecoin and trade it in c-cex poloniex, and other trading sites. I am not familiar with most of it but these two I mentioned are the ones popular in my area.
I don't know much about trading but if you want to know more you can start reading the threads here in trading discussion: https://bitcointalk.org/index.php?board=8.0

Mining bitcoin using computers will not give you a profit and you will incur a loss if used that way, why not selling your computer than buying mining equipment.

hi mate i see you arw an newbie so firse see other topics or search for some before opening a new and by the way i strongly think you not to mine because mining has a automatic difficulty adjuster which in currenct time a huge one and it really need hard machines to break the blocks

Hi, i am newbie. Can you explain about minning?  Thanks

Don't even try it, mining with a laptop or a simple computer would not earn you anything, i know it because when i first came to bitcoin i used to try all that at first as i was not aware of anything but knew that mining earns you bitcoins, but later on i came to know that it is not possible, you will need some big investments for buying the equipments etc and a lot of knowledge about them to make them work.

Would probably be easier for you to use the 50 euros to buy Bitcoin first and then trade the BTC for LTC. There are quite a few trusted sites where you can buy Bitcoin, Coinbase, Circle, LocalBitcoins (you can buy using PayPal, Skrill + many many more).
I don't know about Yobit but I've used Bittrex and Poloniex extensively in the past and they are both very good exchanges.
Basically once, you've created an account on an exchange, you deposit your coins and you can start trading your BTC/LTC etc against a wide variety of coins. It is advised that you do a lot of research before investing in any coin besides Bitcoin. You'll find all the info you need for the most coins right here on the forum.
Good luck!  :)

Hey newbie ! Welcome to bitcoin and the world number one bitcoin forum, here you can find people that know a lot about bitcoin and will be willing to assist you to solve whatever question you may have.

Mining with laptop may burn your laptop itself. Moreover mining is not profitable right now, better stay away from all type of mining as of now.

Have you seen those people with their mining farms? they are making mad bitcoins. It depends on which level you are mining. It can be really profitable on the right spot, and with sufficient funds to buy good equipment.

I just see some business companies with their mining farms. They are making mad bitcoins, but need to pay all the equipments investiment. It's not so easy as it looks. And alone with low investiment it's not possible anymore to make profit mining bitcoins. Some people are still mining alt coins hoping to see its price increase in the future and sell for a reasonable price.

But mining with laptop isn't a good idea as was said before and I agree.

Hello everyone one. I am a newbie here, can I asked you a favor to help me
to understand what the  feedback about bitcoin.

Hi there  hassan,

Welcome to this  forum, if you want to learn  up new  thing  you could always   go  to beginners section of this forum and try to read  up   important  informations  regarding  bitcoin and other  related stuff which  could be really helpful  to your   journey  into bitcoin  world. Thanks

If i were you,i will not mine on my laptop,it will only destroy your laptop. Too much consumption of electricity. Mining is not profitable.

No Bro I Suggest You to Stay away From Gambling Because As We All Know that The Halving Of this Year Has Been Passed And You Know that the Bitcoin Reward For Solving a Block is Halved So that It is Not Profitable and It Doesn't Cover Your Losses.....
So I Suggest You that Stay Away From Mining Because it is Not Profitable Now.....