Alright so any coin based on sha256 can be mined right ? (Like all those in your link)

Ho all, dumm question: is it possible to use the GekkoScience 2pac to mine altcoins ?

Hi everyone,

I want to start buying some coins (btc, eth, altcoins...) but when looking at the exchanges like bitfinex, bitmex... they all charge some non neglectable fees to deposit USD or coins.
So my question is: is there a way to avoid all these fees ? Is it better to deposit cash on an exchange and buy coins directly on the exchange? Or buy coins and then transfer them to the exchange (I saw bitfinex charges had deposits but not btc deposits for example)

Also if I create an account on different exchanges, do I need to create a wallet for each one or can I use the same wallet on different places ?

Thanks guys

Hello,

Bouncing on Joseph's answer I have a few interrogations:

When you say the price might move between the moment we buy on one exchange and sell on the other you mean between the time we click on the button ?

I am not sure I get it right. If I buy a btc at 4000usd, even if the transaction takes a few hours to get verified and the btc to appear in my wallet, I will still have paid 4kusd for a bitcoin right ?

And if I short (of the exchange allows it) a btc on the other exchange for 4200usd, all i need is to transfer the btc from one wallet to the other and that should do it right ?

(All fees set aside)

Where do I get it wrong ?

Hi guys,

another question i have. I have been scouting around for components and i was wondering, is there a big difference or difference at all between brands for GPUs, like is an MSI RX580 different from an XFX RX580 or are they comparable ?

thanks guys.
cheers.

yeah i saw about the potential split coming, and looking at the bitcoin crash, a part of me keeps whispering "buy bitcoins...now!" but i cant figure it out.


i was planning on a GPU based rig to start with, something around 1k€ to start with.

Regarding the rig though, besides choosing the right GPUs, is the  rest of the installation relevant or can it be a bit below in terms of performance.
I mean if you play video games, you want the whole setup to work together and not having some components slowing the other. Is it the same for a rig ? because from what i got, only the GPUs will be used at full capacity, the rest is just here because it has to. Am i wrong ?

thanks guys for the answers.

Hi guys,

Sorry to ask this again but I went through the new joiners posts and still couldn't make up my mind around it and  figure out the answer.

So I would like to jump on the crypto currency boat, but I have a few questions before.

1- as I understood that bitcoin mining is becoming less profitable every day, unless you have a massive hash power, I'd like to try mining altcoins, but am I wrong thinking this is profitable ?

2- following that, are there ASIC miners (I only see those for bitcoins, unless antminers are also able to mine altcoins?)

3- last one, when scouting for a pool, would you recommend a pool/software that mines a bit of everything or a pool for each cryptocurrency I mine.

Cheers guys.