new to mining. need help

[Vikashchilkoti]

i'm new to mining and i need help.
so i know what cryptocurrency is, what bitcoin is and i know what mining is.
i need help on how to mine.
i tried watching different videos on youtube and reading article but they all resulted in me being even more confused.
i need help in understanding what cloud mining and pool mining and what website like nicehash are. and whats best for me to work with.
as right now i'm starting i'm also not sure about what to use ASIC or gpu, though i'm more inclined towards using gpu as i've read its easier to mine with.

[Asgaroth]

Just to kick you off with some of the differences, here are some links:

Cloud Mining
Pool Mining
NiceHash Explained

Hopefully these help clear up some of the confusion.

[CoPil]

i'm new to mining and i need help.
so i know what cryptocurrency is, what bitcoin is and i know what mining is.
i need help on how to mine.
i tried watching different videos on youtube and reading article but they all resulted in me being even more confused.
i need help in understanding what cloud mining and pool mining and what website like nicehash are. and whats best for me to work with.
as right now i'm starting i'm also not sure about what to use ASIC or gpu, though i'm more inclined towards using gpu as i've read its easier to mine with.

I personally tried Cloud mining before... and I would recommend that.
First, be sure that the site you're mining at is legit. I encountered a scam site before (though I gained a bit, which made me believe that it is for real...
but after one month, the site is down), so better be careful. I'd still recommend NiceHash- upon the rise and development of it. It's still legit at
least, even though their security should be more potent, if ever you've heard lately about the hacking...
There's Genesis Mining as well.. but I wouldn't really recommend that.

[Vikashchilkoti]

Just to kick you off with some of the differences, here are some links:

Cloud Mining
Pool Mining
NiceHash Explained

Hopefully these help clear up some of the confusion.

So now that I've read it. By using nicehash i can sell hashpower or can also mine using the hashpower bought from it.
So when I'm mining at nicehash, am i solo mining or pool mining. And are the returns good
Secondly, is pool mining better than nicehash, taking account compexity to use and profit.

[Asgaroth]

So now that I've read it. By using nicehash i can sell hashpower or can also mine using the hashpower bought from it.
So when I'm mining at nicehash, am i solo mining or pool mining. And are the returns good
Secondly, is pool mining better than nicehash, taking account compexity to use and profit.

From my understanding NiceHash is a form of pool mining, they pay you for your gpu usage while mining. Personally, I wouldn't use NiceHash anymore as they were just recently hacked, but, I guess its your choice in the end.

Personally I am trying out pool mining, I am very very new to mining, so maybe more experienced miners here have better information to give.

[drunkenone]

Nicehash is afaik dead from the hack

Pool mining is the way to go, because you will never find a block solo mining unless you have a massive hashrate, which you wont. Pool mining is simple, you get a share of the block reward based on the amount of hash you contributed. They usually will auto-payout to whatever wallet once you hit a certain minimum threshold.

[HappyMod]

Nicehash is not a good bet mate.
Largely you can either check out sites like whattomine.com or coinwarz.com
These will tell you what is the most profitable thing to mine at a certain time but the real interesting stuff happens when you find your own "diamond in the rough" as the coins at the top of these lists are usually just most valuable for a "spot period" - ie it may be valuable at 6 pm but at 7 pm its a different coin.

This is mostly due to price fluctuations and difficulty changes.
Solo mining isn't recommended especially if you dont know what you're doing as it can lead to you just kind of throwing money down a hole.

If you find a good coin, search for pools then pick one.
The most profitable pool isnt always the biggest - the bigger pools you will get more consistent payouts but the smaller ones will get you bigger payouts.
Theres tons of stuff that go into this. Its NOT just printing digital currency.

If you were confused by explanations of mining and such, I would just continue to truck through it until you are not confused. Then I would say you are okay to buy some hash or your own rig.
This is just my humble experience though, as I have been doing this for some time.

[Vikashchilkoti]

Nicehash is not a good bet mate.
Largely you can either check out sites like whattomine.com or coinwarz.com
These will tell you what is the most profitable thing to mine at a certain time but the real interesting stuff happens when you find your own "diamond in the rough" as the coins at the top of these lists are usually just most valuable for a "spot period" - ie it may be valuable at 6 pm but at 7 pm its a different coin.

This is mostly due to price fluctuations and difficulty changes.
Solo mining isn't recommended especially if you dont know what you're doing as it can lead to you just kind of throwing money down a hole.

If you find a good coin, search for pools then pick one.
The most profitable pool isnt always the biggest - the bigger pools you will get more consistent payouts but the smaller ones will get you bigger payouts.
Theres tons of stuff that go into this. Its NOT just printing digital currency.

If you were confused by explanations of mining and such, I would just continue to truck through it until you are not confused. Then I would say you are okay to buy some hash or your own rig.
This is just my humble experience though, as I have been doing this for some time.

So if I'm into pool mining and i have slected a pool too. how do i get started?
Firstly, hardware. can i mine in pool with my gpu or i strictly need a asic miner.
Secandly, after signing in, how do i get started in mining?
And also can you tell me about buying hash power and how to use it for you pool mining.