Mining Cryptocurrencies

[silvermint]

Would you guys suggest for a beginner to focus on mining solely bitcoins? Or would you say that it's smarter to mine for the other digital currencies out there?

[ikilledcobain]

Would you guys suggest for a beginner to focus on mining solely bitcoins? Or would you say that it's smarter to mine for the other digital currencies out there?

Unless you've got cheap electricity and tons of monetary resources, I'd say it's bets to mine altcoins right now. If you've got the extra funds, just invest in some btc.

You should receive your ROI mining alts faster than you would btc.

Just my two cents.

[A1exander]

Would you guys suggest for a beginner to focus on mining solely bitcoins? Or would you say that it's smarter to mine for the other digital currencies out there?

I would say that mining bitcoins is a very bad idea for a beginner, and actually for anyone not having huge amount of money to invest into specialized hardware and good understanding of possible risks.It is possible to mine some altcoins (for example, Monero) with CPUs, but it still requires a large farm to get a meaningful profit.

[Thekool1s]

Would you guys suggest for a beginner to focus on mining solely bitcoins? Or would you say that it's smarter to mine for the other digital currencies out there?

I would say that mining bitcoins is a very bad idea for a beginner, and actually for anyone not having huge amount of money to invest into specialized hardware and good understanding of possible risks.It is possible to mine some altcoins (for example, Monero) with CPUs, but it still requires a large farm to get a meaningful profit.

I totally back A1exander, if you don't even understand bitcoin properly or the technology it is running on, then mining is really a bad idea. You will have to learn about Hashrates, good ASIC miners with great ROI, how to sustain a mining setup and so on, So in short please stay away from mining for now. But do visit the mining section here on this forum, you will find tons of valuable information regarding mining.

https://bitcointalk.org/index.php?board=14.0

[monkeydominicorobin]

Would you guys suggest for a beginner to focus on mining solely bitcoins? Or would you say that it's smarter to mine for the other digital currencies out there?

There nothing wrong about trying to mine Bitcoins. You will still learn something even if you fail. The best alt coin to mine is magi coin. It is for beginners type of coin.

[erlnd]

What are some good coins to mine on a gpu right now?

[dothebeats]

I mine the most profitable altcoin during a given period and switch to another one after I cash out. I only mine a new coin if i looks promising to me and if there's enough hype built around it. The most important thing a newbie should do before jumping into mining is to check the coin itself, see whether there is already a community built with it and if the devs are updating the coin constantly. Doing so would give you a knowledge or two about the coin and may help you narrow down your choices on what coins to mine.

[Goosebump]

Mining bitcoins is going to be very cost ineffective. Maybe 5 years ago you could get away with low cost mining, but in the modern day you need A LOT of startup capital to start mining bitcoin.

[masonli@M_27]

Would you guys suggest for a beginner to focus on mining solely bitcoins? Or would you say that it's smarter to mine for the other digital currencies out there?

mining bit coins is very expensive. if you want to do really it is you put  more efforts and money in to that. for mining need place, hardware, software, electricity, more hash power and money. so most of the members not dare to doing mining. who have to put all efforts and money and time in to that mining like that people only doing to mining. in bit coin mining need more high hash power. so it is not easy to bring. next electricity required more. if you effort all these parameters then try to dare in to this.

[mk4]

If you're main goal is to make profit, I suggest that you don't do mining instead, and focus on learning how bitcoin works unless you have lots of money to invest in GPUs/ASIC hardware. But if you just want to try it out for learning, then go ahead.

What are some good coins to mine on a gpu right now?

Find out yourself. Price and mining difficulty fluctuates, so the "best coin to mine" is constantly changing due to this.

Use this calculator: https://www.coinwarz.com/calculators