Starting bitcoin mining

[RoughLyfe]

Hello,I'm planning to start bitcoin mining in the summer.What do I need to buy,know and do to get started.And what would make me the most money.

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[notlist3d]

What state or country are you mining from? (gives us a idea of weather).   

Also what is your electricity price? (determines new or used gear)

[Mapuo]

Hello,I'm planning to start bitcoin mining in the summer.What do I need to buy,know and do to get started.And what would make me the most money.

You need some of https://bitcointalk.org/index.php?topic=902305.0 also read https://bitcointalk.org/index.php?topic=671189.0
And big patience.

[Amph]

isn't better to wait autumn? which could bring some surprises in terms of new devices and you can exploit the heat to heat your house/room

i don't think is a good idea to start at the doors of summer

[jonnybravo0311]

Oh good... another "I want to print magic internet money and get rich!" thread.  OP, assuming you're even still around, you might want to take a look around the forums a bit and read a few threads to find out whether or not you should even consider getting into mining.  Just coming on and asking for everyone to provide you the answers on how to get rich mining is not going to work.

[Xialla]

here we go again:) please forget about it, buy some bitcoin and store it, there are no moeny printing machines anymore, you are couple of years late. and btw as some smart guy said here:

"unless you've got efficient hardware and dirt cheap electricity don't bother mining unless it's a hobby, you're better off just buying bitcoin"

[RoughLyfe]

What state or country are you mining from? (gives us a idea of weather).   

Also what is your electricity price? (determines new or used gear)

Im mining from california,and im not sure but Id prefer new gear

[notlist3d]

What state or country are you mining from? (gives us a idea of weather).  

Also what is your electricity price? (determines new or used gear)

Im mining from california,and im not sure but Id prefer new gear

California depending on location can have big electricity pricing.   Before dropping money on gear what is your electricity price?   If you are really not sure you should not enter this game.

You can find the rate on your bill, or website of your electric company can give an idea.  Best is bill though as you can see stuff added on.

[crazyivan]

What state or country are you mining from? (gives us a idea of weather).   

Also what is your electricity price? (determines new or used gear)

Im mining from california,and im not sure but Id prefer new gear

What size of the investment we talk about here? Home mining? Large scale mining?

[notlist3d]

What state or country are you mining from? (gives us a idea of weather).   

Also what is your electricity price? (determines new or used gear)

Im mining from california,and im not sure but Id prefer new gear

What size of the investment we talk about here? Home mining? Large scale mining?

Before any of this we still need to know electricity price, which he didn't know if i understood.

I gave tips to find out.  But you have to know electricity before really moving forward unless hosting somewhere.

[MonkeyCoin11]

Check your electricity price, if it's too high give up or find a way to produce your own electricity (which would be maybe too expensive invest).
I already thought in starting BTC mining, but my electricity price is too high for it

[Amph]

Check your electricity price, if it's too high give up or find a way to produce your own electricity (which would be maybe too expensive invest).
I already thought in starting BTC mining, but my electricity price is too high for it

if you can find a way to produce electricity than it would be better to sell it instead of mining, you would earn more, especially if you sell it abroad

[notlist3d]

Check your electricity price, if it's too high give up or find a way to produce your own electricity (which would be maybe too expensive invest).
I already thought in starting BTC mining, but my electricity price is too high for it

if you can find a way to produce electricity than it would be better to sell it instead of mining, you would earn more, especially if you sell it abroad

Or you might be better off buying cheap electricity and following it.   The big companies are able to follow the cheap electricity.

Think of the overhead of most electricity plants that produce in big quantity.  Your talking about entering a entire different business.  Where are you getting this data from?

[Amph]

Check your electricity price, if it's too high give up or find a way to produce your own electricity (which would be maybe too expensive invest).
I already thought in starting BTC mining, but my electricity price is too high for it

if you can find a way to produce electricity than it would be better to sell it instead of mining, you would earn more, especially if you sell it abroad

Or you might be better off buying cheap electricity and following it.   The big companies are able to follow the cheap electricity.

Think of the overhead of most electricity plants that produce in big quantity.  Your talking about entering a entire different business.  Where are you getting this data from?

i know some people(in my local section) that produce energy directly and they were looking for mining, but they also said that it would be better to sell their power instead of using it, profit is guaranteed and it would come  much faster in comparison with mining

[notlist3d]

Check your electricity price, if it's too high give up or find a way to produce your own electricity (which would be maybe too expensive invest).
I already thought in starting BTC mining, but my electricity price is too high for it

if you can find a way to produce electricity than it would be better to sell it instead of mining, you would earn more, especially if you sell it abroad

Or you might be better off buying cheap electricity and following it.   The big companies are able to follow the cheap electricity.

Think of the overhead of most electricity plants that produce in big quantity.  Your talking about entering a entire different business.  Where are you getting this data from?

i know some people(in my local section) that produce energy directly and they were looking for mining, but they also said that it would be better to sell their power instead of using it, profit is guaranteed and it would come  much faster in comparison with mining

Interesting how are they "producing" it?  Wind, solar, etc?   

Is it in a high electricity rate area?   Sounds like a neat way to make money

[photon_coin]

start sooner vs. later, difficulty tends to keep going up , also the block award will decrease to 12.5 will be here before you know it...

[notlist3d]

start sooner vs. later, difficulty tends to keep going up , also the block award will decrease to 12.5 will be here before you know it...

We still have a while before the halving.   I would say there is at least one more generation of miner's before halving.

Once we are less then a year I will think different.  But still have over a year.

[jonnybravo0311]

start sooner vs. later, difficulty tends to keep going up , also the block award will decrease to 12.5 will be here before you know it...

We still have a while before the halving.   I would say there is at least one more generation of miner's before halving.

Once we are less then a year I will think different.  But still have over a year.

The halving should prove to be quite interesting.  When it went from 50 to 25, there wasn't a whole lot of fanfare... of course, in 2012 there weren't as many players in the market.

[notlist3d]

start sooner vs. later, difficulty tends to keep going up , also the block award will decrease to 12.5 will be here before you know it...

We still have a while before the halving.   I would say there is at least one more generation of miner's before halving.

Once we are less then a year I will think different.  But still have over a year.

The halving should prove to be quite interesting.  When it went from 50 to 25, there wasn't a whole lot of fanfare... of course, in 2012 there weren't as many players in the market.

Halving no doubt will be huge in btc mining.  I'm not saying it's not going to change things.

A rough estimate is  Reward-Drop ETA: 2016-07-29 05:38:54 UTC (63 weeks, 5 days, 16 hours) .  So a year and two months.   I think most when looking shoot for under a year for sure.   

If you were planning on over a year to ROI yes I guess it could effect you, but I hope most are under this.

[crazyivan]

Well a nice test of what s going to happen will be LTC block halving. I do not expect much to tell u the truth.