New miner in Slush's Pool

[bagminer]

Hi all,

New to Mining. Eyes are weary from reading and attempting comprehension of this new world for me.

I have downloaded the GUIMiner and signed up in Slush's pool with 2 workers.
I have a Bitcoin QT full client for a wallet and of course an address.
I have read the What is Pooled Mining page and researched what I could understand in the posts here.
I have 2 factor authentication enabled.
I set Bitcoin client path and directory
Speed is about 3.7 Mhash/s

• Does it make sense to launch Bitcoin client as a server to solo mine?

• The GUIMiner states I have 1 share accepted - What does this mean exactly?

• How many workers should one create to stand a better chance to find blocks?

• Default for threshold to send reward is at 1.0. Should I leave this as is or change it to something smaller?

• How is Estimated reward for a round determined?

• I closed the GUIMiner on accident and then the share went back to 0 and the Mhash/s reduced to 1.8 -> Can you explain why that happened?

• Anything I missed or could be doing better?

Thanks and if I have not followed forum protocol, please let me know.
Here to learn.

Bryan

[HellDiverUK]

With 3.7MH, unless you live in a time warp and are posting from 2012, is totally pointless.  You're wasting your time and power.

I'm running 120GH and it takes me 5 weeks to mine BTC1.  

You'll never mine anything, ever with 3.7MH.  It works out you'll mine 2.5 cents per month...or 40 months (3.5 years) to mine $1.

[bagminer]

Thanks for the reply HellDiverUK. 

Which route, in terms of new hardware then, would you suggest I take to achieve over 100GH?
Excuse my ignorance on the BTC decimal system, but just to be sure, is the BTC1 you mine in 5 weeks a full BTC at 600+ USD?

Thanks again,
Bryan

[HellDiverUK]

Thanks for the reply HellDiverUK. 

Which route, in terms of new hardware then, would you suggest I take to achieve over 100GH?
Excuse my ignorance on the BTC decimal system, but just to be sure, is the BTC1 you mine in 5 weeks a full BTC at 600+ USD?

Over 100GH?  You could look for some used hardware like the Bitburner Fury (two boards would give you 100GH, and they're quite cheap).  The Antminer S1 is 180GH and it's about 1.9BTC (which works out about $1500).

Yes, BTC1 is the full bitcoin that's around $700.  If you go to http://bitcoinwisdom.com/bitcoin/difficulty you can fill in your hashrate in the boxes on the top right, and it'll tell you how much you're likely to mine in a period of time.

[Datastick]

Thanks for the reply HellDiverUK. 

Which route, in terms of new hardware then, would you suggest I take to achieve over 100GH?
Excuse my ignorance on the BTC decimal system, but just to be sure, is the BTC1 you mine in 5 weeks a full BTC at 600+ USD?

Over 100GH?  You could look for some used hardware like the Bitburner Fury (two boards would give you 100GH, and they're quite cheap).  The Antminer S1 is 180GH and it's about 1.9BTC (which works out about $1500).

Yes, BTC1 is the full bitcoin that's around $700.  If you go to http://bitcoinwisdom.com/bitcoin/difficulty you can fill in your hashrate in the boxes on the top right, and it'll tell you how much you're likely to mine in a period of time.

im noob, I would what would my first step, but im up for spending $1500 on antminer s1. is there a alternative coin to mine beside litecoin or a cheaper hardware?