Bitcoin Forum

Hi all, been lurking around for a bit, reading and absorbing the information. Looking to get into mining for a bit of fun, if I make a coin or two I wold be very happy. Just thought I would say hello to all.  ;D

hello and welcome


good luck with mining.

regards

Hello and be rich with mining!  ;)

Good luck..research before mining and have fun!

Thanks for the welcome _rusty_ and yuraj, not sure about getting rich mining but a bit of fun, learning and banter on the forum will be good enough for me.  :)

Best of luck, make sure you get a handle on the difficulty increases expected with new ASIC miners hitting the market before investing in hardware. 

^^ agreed mining is about to change quite a bit. just starting myself

Difficulty is increasing exponentially.

Hopefully technology such as ASIC will keep pace. It like an arms race. Lol

I want to mine powercoin but I'm still finding a step by step guide how to do it.

The difficulty is changing rapidly on the coins that bring most newbies into mining, but there are a lot of options to mine "alt coins" with a GPU or two on a hobby level.  Even making a rig or two can gain some spare cash if you're just looking at it from a fun perspective and not trying to make big bank.  :)

Sorry for the noob question but what is mining and how does it work  ???

Maybe you find this link useful: https://en.bitcoin.it/wiki/FAQ#Mining (https://en.bitcoin.it/wiki/FAQ#Mining)

I suggest you buy dividend paying shares in a mining company like ASICMINER. You get weekly payouts, and the share prices are rising presently :) 

You can grab some pass-through shares on bitfunder.com (https://bitfunder.com/asset/G.ASICMINER-PT) or btct.co (https://btct.co/security/ASICMINER-PT).

Also a new asset, PAMB (https://bitfunder.com/asset/PAMB) on bitfunder has paid weekly dividends at ~2.5% of share price. This is a spectacular return on investment, but it smells to good to be true.

Alternatively, grab a ATI 7870 and mine some litecoin. You'll be getting a solid video card and get a decent hashing rate.

If you want to mine BTC personally, you need to grab some ASIC hardware. There have been a lot of bulk chip sales lately, so I suggest you wait a couple of months, because I think the hardware economy will be more competitive, and it will be more of a buyer's market. The difficulty will be higher then, but with all the new hardware coming online at the moment, you want to avoid paying super-high prices for ASIC tech at the moment.

Welcome to the forum. Enjoy !

Thanks for the link

List of Avalon ASIC Miner Developers
https://bitcointalk.org/index.php?topic=192860.msg1998569#msg1998569

Low Watt Miners GH/BTC, ROI
https://bitcointalk.org/index.php?topic=209750.0

I just started GPU mining as well. Have 2 HD7970's tearing up some LTC! Not really looking to make a profit but if the rig pays for itself in a timely manner (not paying for elec) then I will consider it a smashing success!

Good luck to you!

As I do not want to create new topic I want to ask is it still good idea to do GPU mining.
I want to buy new gaming/mining computer and I think about HD7950. Maybe then I could upgrade it to 2 HD7950.
How much Watt consumption should I assume for two graphics cards with AMD Phenom II processor?
I would like to mine when I do not use this computer.
You mention about mining LTC. Does this makes more sense?

Hello and welcome

Still too much of a newbie to really answer most of this question but I can tell you that my profits mining LTC are greater than mining BTC. In regards to GPUs I purchased HD7970s but if I had the chance to do it again I would purchase 7950s as the hashrates are similar (from what I'm told) but the cards are cheaper.

For power consumption I would just do the math - the specs are all available and accurate.

I hope I'm not violating any policies by posting this but I got my rig from ebay as a pre-built BTC/LTC mining rig. The machine was very well built and reasonably priced (less than I could build it for anyway - not to mention that I didn't have to spend time building it). As I mentioned previously if the machine pays for itself in a timely manner I'll consider it a smashing success.

http://www.ebay.com/itm/Bitcoin-Litecoin-Mining-PC-FX6300-2-x-HD7950-crossfire-Win7-Win8-8GB-RAM-650W/261216083769?ssPageName=WDVW&rd=1&ih=016&category=179&cmd=ViewItem

Welcome and good luck!

Thanks to everyone for the warm welcome. Looks like I gonna have me some fun!

@mynameismud
 Thanks for the link. It is useful although they do not ship international, so I need to look for local supplier.
In this configuration they use 650W PSU , but I thought about 550W for two cards HD7950.
Maybe it is worth to add extra Watts...
Also I read that Linux configuration is more stable however it is not so flexible for overclocking.