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Title: [HELP] Getting Started with Mining Post by: Ladies on March 25, 2017, 05:04:26 AM Hey guys,
I know I am a little late to be doing mining now. But I recently moved to a place where electricity is essentially free, so I thought I might take advantage of that. So I am wondering if anyone could point me in the direction to actually start mining. Like the components needed, what needs to be taken into consideration to start and others. Thanks guys! (: Title: Re: [HELP] Getting Started with Mining Post by: xhomerx10 on March 25, 2017, 05:06:05 AM There's no point in mining right now - just buy the coins while the price is down.
Title: Re: [HELP] Getting Started with Mining Post by: Ladies on March 25, 2017, 05:07:25 AM There's no point in mining right now - just buy the coins while the price is down. Yeah that is something that I am doing as well.Just thought of giving it a go. Title: Re: [HELP] Getting Started with Mining Post by: xhomerx10 on March 25, 2017, 05:10:27 AM There's no point in mining right now - just buy the coins while the price is down. Yeah that is something that I am doing as well.Just thought of giving it a go. Well maybe this will help you decide. https://bitcoinworldwide.com/mining/hardware/ Pay particular attention to the link on that page for profitability. Title: Re: [HELP] Getting Started with Mining Post by: Ladies on March 25, 2017, 05:21:52 AM There's no point in mining right now - just buy the coins while the price is down. Yeah that is something that I am doing as well.Just thought of giving it a go. Well maybe this will help you decide. https://bitcoinworldwide.com/mining/hardware/ Pay particular attention to the link on that page for profitability. Thanks! Title: Re: [HELP] Getting Started with Mining Post by: NiHaoMike on March 25, 2017, 05:50:22 AM Search Ebay for used miners. You're trying to find the highest hash rate per dollar.
That said, altcoins are a much better bet nowadays. Bitcoin mining is more for the fun and those who want to help run the network. (For the latter, running a full node helps the network in a different way but takes almost no resources - a common PC will easily do it.) Title: Re: [HELP] Getting Started with Mining Post by: Ladies on March 25, 2017, 06:10:02 AM Search Ebay for used miners. You're trying to find the highest hash rate per dollar. Do you have any recommendations for which altcoin to mine?That said, altcoins are a much better bet nowadays. Bitcoin mining is more for the fun and those who want to help run the network. (For the latter, running a full node helps the network in a different way but takes almost no resources - a common PC will easily do it.) Thanks for the information by the way ;) Title: Re: [HELP] Getting Started with Mining Post by: NiHaoMike on March 25, 2017, 07:40:01 AM Do you have any recommendations for which altcoin to mine? What hardware do you have or can obtain for relatively cheap? Somewhat older but recent AMD GPUs would probably be your best bet for easy profitability if making back the initial purchase price is first priority. You can often find old servers (for mining CPU coins) for free if you're lucky, but they still have to be somewhat recent to be worth the effort it takes to set up.Thanks for the information by the way ;) BTW, the coin I got started on was Perk, but that was well over a year ago. The hardware to mine it ($5-10 Black Friday smartphones) paid for itself in under a week and the power usage is minimal. At its peak, I had 4 of those cheap smartphones making $100 per month. (Nowadays, it's not really worth mining - maybe $10 per month with those phones if you're lucky and could even get the exchange to accept them.) |