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Author Topic: Help me please ! I am new!  (Read 2024 times)
Bitdonator
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June 07, 2015, 03:04:53 PM
 #21

Its very hard today to earn something from mining,
you need poferfull miner and cheap electricity.

Better run some business with btc or try to trade
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June 08, 2015, 10:36:55 AM
 #22

I would like to know if its worths nowdays bitcoin mining....

I can invest right now 1k$ .

Do you recommend me to buy hardware or to make exchanges and take advantage from the sell/buy of BTC?

Thank you in advance!

If your current country electrecity's cost is cheap, you can try invest it on hardware.
But for me, it will easier to buy some bitcoin and altcoin directly into exchange and you can start trading now rather than buying hardware
The risk is still quite huge. Unpredictable pricing and difficulty can be the main downside for this. Lots of space is required too.


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SebastianJu
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June 08, 2015, 12:11:08 PM
 #23

Something most dont know about is that the initial income form mining will diminish very fast over time. That means your risk of not even getting your investment back is very high.

The reason is the difficulty of the blockchain, its rising constantly and makes it harder to earn.

If you want to get a feeling about how it works check out https://tradeblock.com/mining/ and see how long it might take.

Please take into account that you might get your hardware late or sometimes not at all. So you get fast into an area with no profit anymore.

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
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June 08, 2015, 08:48:50 PM
 #24

Hey there Iordanis! Welcome to bitcoin and bitcointalk. There are several things you should know about mining before you start cosindering an investment. First of all, the difficulty is an importand factor. Depending on how big the mining network gets, the difficulty will rise. If it does, you'd be earning less bitcoins for the same mining power. You can use this tool to measure this: https://bitcoinwisdom.com/bitcoin/difficulty

One of the most efficient miners publicly available now is Antminer's s5. However, I wouldn't think of this as the ideal time to buy one as better miners are probably going to be released within 2015. Your goal of course would be to break even. If at any point your miner's electricity ends up costing more than it's earnings you'd be losing money. With that said, bitocin's price is also an importand factor. Mining can be risky, if you're just getting started with it, I'd suggest you spend some time educating your self on it.

Also, be careful of trading and cloud mining. They can be equally or even more risky. If you're going to go with cloudmining, at least pick a decent provider. A user here has created a list of those providers marking the ones that are likely ponzi schemes. https://bitcointalk.org/index.php?topic=878387.0






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June 08, 2015, 09:04:04 PM
 #25

thanks its so helping Cheesy
You're welcome. That's what the Beginners & Help section is for. Smiley






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June 08, 2015, 09:33:21 PM
 #26

i though mining was profit but its not now,maybe i should trading

Trading?
You mean "buy low, sell high" like people make it sound so easy, lol.
Educate yourself first, or you won't have any coins to worry about, very quickly.

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June 08, 2015, 09:38:22 PM
 #27

i though mining was profit but its not now,maybe i should trading
trading is like pure gambling because of pumps and stuff like that you can either win big or loose big

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