Thanks pjviitas that looks perfect! Except I don't have a cheeky $700 (ish) lying around unfortunately
I'm thinking more like a $100 second hand computer off gumtree and putting a good enough graphics card in. I don't mind if it takes me 2 weeks to get a couple of lite coins at this stage just want to have a go.
Is this feasible or will I burn my house down.
Thanks
Ell

Hi,

I want to dabble in mining other crypto-currencies like light coin etc...ones that are easier to mine and require less expensive hardware.
Just wondering what peoples opinions are on what would be the cheapest noob mining set up - nothing fancy. Pretty much just want a second hand desktop type of thing but need to know specs.

The cost of electricity doesn't really bother me - more just wanting to know about equipment required.
Not too phased about hash rate or whatever that is either...kinda just want a foot in the door - can always upgrade later.

Thank you kindly

Ell

Hi,

So I'm pretty up to speed with how bitcoins work and I'm keen to buy some as an investment. However I seem to be having trouble understanding wallets and how to buy and store bitcoins securely.
I've been told that storing them online leaves you open to hackers so I was looking at storing on my PC.
A friend recommended coinjar ..are they a wallet or an exchange or both? And are their wallets online or do they have a PC wallet option that I can't see?
Or does someone have a better set up? Maybe use mt gox as an exchange and transfer to electrum for storage? I've also read that you need to back up ur wallet on a USB. How exactly do you do this? I've done a lot of research on this but I can't find anything that explains step by step how to set up a wallet and purchase bitcoins. I've even bought 2 e-books but not much on there either. Would very much appreciate any help, I'm super keen to jump on board but I'm worried I'm going to miss the boat because of my lack of technical knowledge.
Thank you

Ell