Bitcoin Forum

Hi, new here, just wanting to find out more about mining - any advice appreciated.

Thanks

You want to mine BTC or altcoins? That is the first question.

Yeah, if you're looking to start mining BTC than unless you have quite of bit of money to put into it you probably won't get much profit from it. However you could mine some alt coins pretty inexpensively depending on which one you choose.

Mining altcoins will be much more profitable for you than mining Bitcoin has Bitcoin is very difficult to mine.

I would start mining altcoins (scrypt) now.

Lots of guides online, just search Google for "Litecoin mining guide"

You probably have the hardware to start mining right now (although not very efficiently), so you can get a feel for it.

Thanks everyone for your replies. I have a freind in work who wants to sell me 30 ant u1 bitcoin miners for 3 bitcoins. Is this a good deal and can I mine scrypt with them?

I think you can mine scrypt with them go check in the alt coin section they will know a lot more and will provide you with a good answer.

You think wrong, and should probably not give out advice on things you don't know about.

You can not scrypt mine with a U1.

Also, 30 U1 miners for 3 BTC is a god-awful deal, but you'll need to figure out why for yourself.

If you want to know if they are profitable (make more money mining than you spent on them) check a mining calculator such as this one: http://bitcoinwisdom.com/bitcoin/calculator

consider mining more as a hobby than an way of making money and you'll learn a lot in the process.

0.1 BTC for a U1 miner is really really bad lol.
Anyway, it will be very hard to mine bitcoin with profit at this moment, and it would be much better to build a GPU rig to mine scrypt-based coins :D

There are alot of guides out there on the forum and it will be easy to follow them rather then putting up questions all around the forum.
You could even ask some member to help you in getting started..

It can be a bit daunting at first, but as long as you are careful and ask a lot of questions. You'll be fine.

Don't be too trusting. Always try and read between the lines of what people are saying, and don't get caught up in the hype. Use your head and you won't have a single problem.

If you want to mine, do that with altcoins, too late for mining BTC

Thanks for all of your advise its appreciated. I decided to order 2x radeon 7950s to to do scrypt mining. Bitcoin seems too expensive to get into now. I am thinking litecoins seems the most popular amd I right?

thanks again!

If you are talking about publicity and merchant acceptance, bitcoin is definitely way more popular than the other altcoins.