Bitcoin Forum

I am new to mining and looking for honest advice. Been mining alt coins not bitcoins. Really just dabbling at this point because I simply don't have the hardware to do anything else. (ie cpu @ 10/khs, totally pitiful)

What are people doing to make a few dollars on this?  From what I can tell it would appear people like me are mining the altcoins because it's easier to build up, then selling them on ebay where they can the get the best price. Does that sound like a good strategy? 

Is anyone holding onto altcoins in the hopes the value would go up?  If so, Which ones??

You can get a premium price on ebay, but you're also likely to get scammed on there, so be careful.

Start off with coin that just launched, you are more likely to mine more in the beginning of each launch.

@Anihiel1 Sure you can receive some good advice anyways that's more profitable to mine alternative cryptocurrencies.

Not every coin has potential. Only very few have some potential to make some small profit on. Most coins are for the purpose of making the creator rich. No one else.

Well, the creator and a few early adopters, but 99% of the time coins are created with the intention of getting rich quick.

But where else to sell them but on ebay...?  What do you recommend? 

On the forums here, or on local bitcoins.

It's gonna be tricky without the hardware, have you considered getting a portion of Bitcoin with something like Coinbase or Local bitcoins and then turning that into alt coin on an exchange?

Haven't gone the Ebay route myself, just seems like a hassle with the potential for scams.

look into blakecoin and IFC

No, actually trying to go the opposite way, mining the altcoins since they are scrypt and I don't have the hardware to mine bit. Nor the funds to get the multiple asics needed for the current difficulty level of mining bitcoins.  Then want to convert the altcoins to cash/bitcoin

If you get a blakecoin wallet I will send you 1 blakecoin ;D

CPU mining will cost you more in electricity that what it will make you. GPU's is the only way to make money.

Go on amazon and snipe the best value cards. You're looking for Hashrate/$. Keep within your budget. Profit.

maybe but right now i have 3 desktops i built literally years ago and don't really use so havent upgraded. Tried to run cpu miners on each one but they are still on xp and can't get them to work. (like i said is never use them) It would cost me more in upgrades or a new system than i would ever make. The most updated gpu i have is an nVidia 670 i think,  can't even run cuda.  Unless anyone has some extra hardware laying around they'd want to donate to me, i'm kinda stuck mining cpu. And the system I'm on is always running anyway, so no great expenditure in electricity

Which is fine i guess, I definitely have no illusions that i'm going to make miilions of dollars mining doge and kittehcoin, lol. Not that I wouldn't love to, who wouldn't, but I'm not caught up in that whole get-rich-quick fantasy...it is fun though.

If you are just starting out and have no hardware I would suggest that you start mining LTC with any CPU's or GPU's you have around.  I am running virtual machines on a number of large servers that have excess capacity for mining LTC.  They manage to mine about 1 LTC a day using cgminer.  If its bitcoins you are after you can then trade them online at one of the coin exchanges.

how exactly do i do that? I could not get cgminer or pooler cpu running on win xp, have no clue what I am doing wrong.  I input all the proper values as far as i know,  but the dos window just keeps repeating the command line ad infinitum. Using pooler on the laptop with win7, same exact values in the bat, runs fine

Check out:
https://www.coinat.com/tutorials/how-to-mine-litecoins-with-cgminer-on-windows/

It has some good step by step instructions for setting up cgminer on windows.  If you are still unable to get it working, please provide more detail about the failure.