CADOwl (OP)
Newbie
 Offline
Activity: 2
Merit: 0
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June 28, 2015, 12:25:17 PM |
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Hello Everyone,
As you can tell from my profile I'm brand new to this site, but I figured this is a good a place as any to get started.
So, here's the story;
I have a few coworkers who dabble in bitcoin/altcoin mining, and I'm trying to educate myself and hoping to get a foot in the door.
I've been browsing the internet looking for some useful information, and everything I'm finding is outdated or questionable in origin. That's why I stopped here to make an account and get information from you guys.
You seem to be active, and pretty friendly. Hopefully you'll be kind to newbies!
My interest now is, I'd like to educate myself on Mining, and possibly get started.
I've got a flexible budget and I'm currently paying next to nothing for power (Less than 0.02USD).
Please take care of me, and I look forward to your advice and feedback,
CADOwl
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hayabusa911
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June 28, 2015, 04:43:02 PM |
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Hello Everyone,
As you can tell from my profile I'm brand new to this site, but I figured this is a good a place as any to get started.
So, here's the story;
I have a few coworkers who dabble in bitcoin/altcoin mining, and I'm trying to educate myself and hoping to get a foot in the door.
I've been browsing the internet looking for some useful information, and everything I'm finding is outdated or questionable in origin. That's why I stopped here to make an account and get information from you guys.
You seem to be active, and pretty friendly. Hopefully you'll be kind to newbies!
My interest now is, I'd like to educate myself on Mining, and possibly get started.
I've got a flexible budget and I'm currently paying next to nothing for power (Less than 0.02USD).
Please take care of me, and I look forward to your advice and feedback,
CADOwl
Welcome to the forum! There is a ton of info on this site. Try using the search for specific questions you may have. |
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jeannemadrigal2
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June 28, 2015, 04:47:19 PM |
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Welcome! Yes this is a very active place for cryptos. I suggest that you might want to try some faucets to get started, I like moonbitcoin. You won't make anything, but it is good to get used to sending transactions. After you get used to it then stop with the faucets because they are a waste of time if you want money.
If that is your price for electricity, then you can make money for sure. But you need some serious hardware, because that is what everyone is using today. You can get a antminer s5 new for about 400$ I think, but you also need something like a raspberry pi to make it run, and maybe a powersupply too. You might be better off getting s3's, or undervolted s3's and s1's used. You can get them really cheap used. Then point them to a mining pool. You have to do the math to see what is the most efficient use of your money between getting used stuff or new stuff. Because there is supposed to be a ew generation of hardware coming out soon, you might want to get the used stuf.
Good luck!
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melody82
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June 28, 2015, 04:52:32 PM |
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Welcome to the forums! There is a lot of good information here and lots of nice people who will help you with questions. But stay away from the gambling section, the investor based games section, and even the market place until you are familiar with the shenanigans there. Also be careful about putting money into cloud mining sites, many of them are ponzi's (but some of them are good).
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anderson00673
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June 28, 2015, 05:16:58 PM |
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Welcome to the forums! Don't forget to use the search function, there are lots of threads, and chances are that your question has already been answered.
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ikydesu
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June 28, 2015, 05:37:30 PM |
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Hello Everyone,
As you can tell from my profile I'm brand new to this site, but I figured this is a good a place as any to get started.
So, here's the story;
I have a few coworkers who dabble in bitcoin/altcoin mining, and I'm trying to educate myself and hoping to get a foot in the door.
I've been browsing the internet looking for some useful information, and everything I'm finding is outdated or questionable in origin. That's why I stopped here to make an account and get information from you guys.
You seem to be active, and pretty friendly. Hopefully you'll be kind to newbies!
My interest now is, I'd like to educate myself on Mining, and possibly get started.
I've got a flexible budget and I'm currently paying next to nothing for power (Less than 0.02USD).
Please take care of me, and I look forward to your advice and feedback,
CADOwl
Welcome to this forum. What your mining equipment spec? Are you use your PC/Laptop? What your coin you mining? Are you already visit this site? https://en.bitcoin.it/wiki/Mining_hardware_comparisonCheck for coin diff currently here: http://www.coinwarz.com/cryptocurrency~iki |
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bitcoin revo
Legendary
Offline
Activity: 1168
Merit: 1049
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June 28, 2015, 07:01:30 PM |
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There are some mining pools that will automatically switch to whatever altcoin is currently the most profitable, but even the you'll be unlikely to recoup the cost of electricity unless your really spending money on the bleeding edge of miner hardware.
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Rmcdermott927
Legendary
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Activity: 2254
Merit: 1140
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June 28, 2015, 08:10:01 PM |
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As a general rule, if you don't have free or close to free power, you won't profit much mining with current BTC prices. If the price of BTC goes up a bit, it might be worth it at that point. Even at your current power rate, it will be hard to ROI with most miners.
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jason miner
Member
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Activity: 117
Merit: 10
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June 28, 2015, 08:23:30 PM |
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Mining is barely profitable, you'll need good hardware and cheap/free power to get any returns on your investment.
Buy some Bitcoins and hold them, that's much better.
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SpanishSoldier
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June 28, 2015, 08:33:13 PM |
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Welcome to bitcointalk. Do you have time to monitor your miner 24x7 and are you sure you can find a buyer while its need is over ?
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Studio60
Newbie
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Activity: 59
Merit: 0
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June 28, 2015, 09:26:44 PM |
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Welcome! As you've probably seen there is a complete Mining section of the forum. If you hang out there you can probably get up to speed fast. I do think electricity plays a big role in whether or not you can profit. Also, note that if you mine coins other than Bitcoin (altcoins) depending on the coin there may be a lot of volatility, meaning your realized profit can differ. |
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-BTC-
Newbie
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Activity: 8
Merit: 0
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June 28, 2015, 11:03:05 PM |
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I'm also a new guy! Just wanted to say hello and I'm glad I found this place!
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ikydesu
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June 29, 2015, 09:31:11 AM |
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I'm also a new guy! Just wanted to say hello and I'm glad I found this place!
Welcome  Just read a threads in this section carefully, you can understand about bitcoin and how to earn without using a faucet. ~iki |
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Amph
Legendary
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Activity: 3206
Merit: 1069
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June 29, 2015, 01:54:36 PM |
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with that power you can actually hope to roi with a good investments on bitcoin mining, or altcoin if you prefer, but i would look to mine altcoin directly with soem antimerns s3 or s5
if you have the money you can start big and sell afterward(1-3 months after) while the diff remain the same, so the current miners generation will not be obsolete
alcoin mining is abit different you need to follow it, if you jump in the gpu mining scene, otherwise you can point your gi to one of the most stable currency like dash/monero or scrypt king like litecoin/doge
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MrEggman
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June 29, 2015, 05:50:05 PM |
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Hi! i am new as well. Ready to change the world with decentralized cryptocurrency! I wish i could try mining but it seems that is a money loser right now, so i am looking into proof of stake coins.
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ikydesu
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June 29, 2015, 06:38:48 PM |
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Hi! i am new as well. Ready to change the world with decentralized cryptocurrency! I wish i could try mining but it seems that is a money loser right now, so i am looking into proof of stake coins.
Welcome Good spirits, but it's not as easy as is pronounced. Choose altcoin which have a good opportunity, but remember they easy to manipulate. ~iki |
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