Bitcoin Forum

hello guys, I am newbie  :o

well my question is how do I generate BitCoins ?
do I need to buy some sort of Hardware ? or software.
What kind of Hardware I need to buy and what else required with that hardware.

Expensive ASICSs are the only way right now to mine them. Even then theres a chance that you won't ROI. I wouldn't mine, I would just buy some bitcoin and wait till the price drives up.

Do you have any money? So you can rent machines from other people and generate bitcoins? ( Not profitable. )

You can mine altcoins although.

BTC mining right now, not so profitable.
Unless you got deeeeeeeeeeeeeeeeepppppp pockets and the patience.

Still there is a chance you wont get any BTC.

now,the only way is buying
too late to mine  :(

you should try hosted mining like ghash.io and for bitcoin wallet you use blockchain.info

You've been here for 6 months and that's the advice you give?  :o ???


ADVICE: unless you have over a million dollars of investment capital you will most probably not make money by mining.  You need this large amount so you can mine with higher efficiencies of scale and get discount from ASIC companies and cut ahead of end users.  So mining is not for the little guy. Why are the little guys buying ASICs - because they haven't bothered to do the math or think they can beat the difficulty increases.

Forget mining for the time being, focus on earning more income and buying BTC with that income.  This may change in 6 months, but right now mining is not profitable for the end user.

To get some bitcoin, you can buy it on exchanges or localbitcoins. You can also earn it by providing services and joining signature campaign.

You can mine bitcoin with ASICs (special hardware that can do nothing other than mining), but I don't think it is a good investment at all.
You would be better off by spending the money to buy bitcoin directly IMO.

Make sure you read about all the scams or companies that don't deliver on time. If you want to get involved with bitcoin, the best thing is just to buy some and keep them in a cold-/paper-wallet.

Sorry for that i don't know much english, but i hope my advice help

Though you can mine altcoins and exchange them for bitcoin, you won't be able to mine bitcoins yourself without spending a rather ludicrous amount of money on ASICs, and even then there's a decent change you won't earn enough to pay for your initial investment in the hardware.

Your best option is to buy bitcoins with your local currency. If you're in the US, I recommend Coinbase (http://coinbase.com), otherwise you should be able to find someone relatively nearby to trade with on LocalBitcoins (http://localbitcoins.com).

Find a way to offer a service which will pay you in Bitcoin....^^^^^^.

There's an auction sub-forum here (find it in Marketplace) which may find you someone looking for services and willing to pay in BTC or you could always. Snoop around here and I guarantee you'll find something good...vvvvvv.

You'll have to mine coins, and to do it effectively, you need ASICS.

And to buy them you need good amount of money. Even if you have that you'll need Patience , Time .
There are many out there who still thinks that they can mine btc with there laptops. Yesterday someone asked me over facebook " Do you know about bitcoin mining , you just need to run some software on your PC and that's it " my reply was " hmm, Ok "

you can mine BTC with laptop but You will need to let it run for more than a year to reach the 0.01 payout ... if you ever get to that target! :)


Best way to get BTC is to start your business and sell services for BTC :)

or just buy them!

if you are a long term investor and have a decent amount of money for investment then buy some asics ... but i would recommend you to find a dealer nearby and buy them in person .... you might not break even when the asic become obsolete but I think that if you wait more after that you will have a nice profit because the price is always going up ... just don't freak out and sell :)

According to current exchange rates that's around 6$ in a year and your laptop will consume more Power than 6$ in a year doing that, so not worth it.

Exactly. He's basically saying that mining with a plain old notebook computer doesn't pay off. Even GPU mining isn't profitably anymore. You need ASICs!

If you are looking for some fun, you can buy a USB miner (cheap, not much heat and noise, easy to set up), but if you are looking for profit, you should do some research and check with a mining profit calculator.

Buying is the fastest way.

I wouldn't even think about mining these days. Theres a small chance you will ROI, and only if you buy an extremely expensive ASIC.

I nee
Great advice, its better to see how to setup w. a low cost usb miner as if you were going to buy bigger hashes in the future.

Since its basically the same thing, outside from performance.

Also there are factors that the mining calculator doesnt factor is daily/weekly increase etc.

Are you talking about the bitcoin price or difficutly?
For difficulty, there are calculators that handle difficulty change correctly (you can set the % change every period of 2016 blocks).
For price, IMHO, you should compare buying bitcoin miner and buying bitcoin directly, and so the bitcoin price shouldn't really be considered...

Just wanted to agree with everyone else that mining is high risk, low reward. Work harder in real life and buy the coins that way. It's the best way to but feel free to do the math yourself. Just realize bitcoins aren't created out of thin air and are not "easy money". If there is a unique opportunity it's not in mining, it's in buying and holding for 12-24 months or longer.