where do i start bitcoin mining?

[WheatBreadSaid]

i have researched that mining is an very efficient way of earning some btc (bitcoins). where do i start with mining? should i invest in mining in the cloud or mining equpment? which is better?

[subSTRATA]

i have researched that mining is an very efficient way of earning some btc (bitcoins). where do i start with mining? should i invest in mining in the cloud or mining equpment? which is better?

i wouldn't call mining efficient by any means, with electricity and hardware costs, the profits from mining are marginal at best and is only viable as income with a huge farm. also avoid cloud mining, most are ponzi scams but there are a few legitimate ones out there: https://bitcointalk.org/index.php?topic=878387.0
this thread should help. If you really want to mine though, purchasing an antminer S5 wouldnt be a bad idea.

[WheatBreadSaid]

i have researched that mining is an very efficient way of earning some btc (bitcoins). where do i start with mining? should i invest in mining in the cloud or mining equpment? which is better?

i wouldn't call mining efficient by any means, with electricity and hardware costs, the profits from mining are marginal at best and is only viable as income with a huge farm. also avoid cloud mining, most are ponzi scams but there are a few legitimate ones out there: https://bitcointalk.org/index.php?topic=878387.0
this thread should help. If you really want to mine though, purchasing an antminer S5 wouldnt be a bad idea.

most cloud mining are scams? will i still get some btc if i purchase a cheaper miner and mine with that?

[subSTRATA]

you can, but expect at least a few months to ROI, even with 1TH of hashing power nowadays you wont make much on a daily basis. a mining calculator like this one: https://alloscomp.com/bitcoin/calculator

might help you a bit.

[Xialla]

i have researched that mining is an very efficient way of earning some btc (bitcoins). where do i start with mining?

wow, you invented time machine and you are now speaking with us from 2010? cool, I want also invent something like you:)

[Rude Boy]

Start mining from some Alt coins. Yes! Because, directly mining bitcoin is might be not profitable. So if you're interested in mining try to mine some alt coins. Reffer minergate.


~Rude Boy

[notlist3d]

You start with getting a miner.  There are so many different part's to it that it's not one size fit all.  For example if you have very very low to "free" electricity then a used  S3 might be great for you.

For most I would suggest going for efficiency.  A example of this is currently something like S5.

As far as ROI i like this calc - https://bitcoinwisdom.com/bitcoin/calculator

Difficulty has been slow rising, and BTC is up it's been a good summer for miners in my opinion.  And has been good to me to keep mining through summer heat even.

[subSTRATA]

Start mining from some Alt coins. Yes! Because, directly mining bitcoin is might be not profitable. So if you're interested in mining try to mine some alt coins. Reffer minergate.


~Rude Boy

theres that possibility too; if you can find a decent cpu mineable coin and sell them on an exchange, its possible to make a bit.

[WheatBreadSaid]

Start mining from some Alt coins. Yes! Because, directly mining bitcoin is might be not profitable. So if you're interested in mining try to mine some alt coins. Reffer minergate.


~Rude Boy

can the same btc miners work with alternate coins too?

thank you for the help everybody

[dezoel]

Start mining from some Alt coins. Yes! Because, directly mining bitcoin is might be not profitable. So if you're interested in mining try to mine some alt coins. Reffer minergate.


~Rude Boy

can the same btc miners work with alternate coins too?

thank you for the help everybody

i think that's will work with some altcoin that based bitcoin ( sha256 algorithm ), but i am not really sure about that. CMIIW..

[ikydesu]

i have researched that mining is an very efficient way of earning some btc (bitcoins). where do i start with mining? should i invest in mining in the cloud or mining equpment? which is better?

With diff increased it's not efficient, better find an alternative way for earn some btc, look recently coins diff: www.coinwarz.com/cryptocurrency
Still want to mining? You must have a lot budget with low electric cheap or choose altcoin, choose carefully, altcoin is easy to manipulate.


~iki

[Omikifuse]

start by getting some millions $ to buy mining stuff.

you'll need it to make it profitable and to reduce hardware costs

[BitcoinNewbie15]

As others have said, mining wont make you very much Bitcoins. I mine for fun and it does generate some small amounts of Bitcoins on the side. Fast miners are very expensive, and I usually dont use cloud mining, so I cannot provide my thoughts on that.

[SmartIphone]

I started with cloud mining, but with hardware i started with usb miner. not much profit but interesting to start

[Deathwing]

In early-2014 "cex.io" aka Ghash.io's 10 Gh/s mining speed could help you to get like 0.01 BTC every week or so, basic math- 10 GHs = 0.01 100 = 0.1 1000 = 1 BTC if difficulty doesn't change and stays same.

But, right now with 1 Th/s (1000 Gh/s) you can't even mine 0.1 BTC every week.

So to "earn" some noticeable Bitcoin, you'd need at least 15~ Th/s speed.

[el kaka22]

In my personal experience, I've started my cloud mining from my very first faucet earnings. However the ROi period is long, so I've cashed out my GHS and stopped my cloud mining that time. However, since I have extra coins from my signature campaign, I've invested in two sites now and I have about 32 GHS of hashing power now.

i have researched that mining is an very efficient way of earning some btc (bitcoins). where do i start with mining? should i invest in mining in the cloud or mining equpment? which is better?

However, mining is now not a efficient way to earn bitcoins, though it was few years ago. In my opinion, cloud mining is better than equipment (if the site is safe and not scam), because you don't need to manage the equipment yourself.

[Rude Boy]

Start mining from some Alt coins. Yes! Because, directly mining bitcoin is might be not profitable. So if you're interested in mining try to mine some alt coins. Reffer minergate.


~Rude Boy

can the same btc miners work with alternate coins too?

thank you for the help everybody

Refer this -> www.coinwarz.com/miningprofitability/sha-256 <- might help you


~Rude Boy

[Valanor]

i have researched that mining is an very efficient way of earning some btc (bitcoins). where do i start with mining? should i invest in mining in the cloud or mining equpment? which is better?

you can buy miner calculate how many ghs you want to mining bitcoin
ceck at here price and stat https://en.bitcoin.it/wiki/Mining_hardware_comparison

[Rmcdermott927]

i have researched that mining is an very efficient way of earning some btc (bitcoins). where do i start with mining? should i invest in mining in the cloud or mining equpment? which is better?

These days, with the price of BTC, mining is one of the hardest ways to make BTC.   You are better off either buying BTC with fiat and waiting for the value to rise, joining a sig campaign, or selling another good or service for BTC.   Unless you have free power, it is difficult to make any profit on mining. 

[CEG5952]

i have researched that mining is an very efficient way of earning some btc (bitcoins). where do i start with mining? should i invest in mining in the cloud or mining equpment? which is better?

First of all, you need to check the electricity cost in your country. If it's profitable or not. Bitcoin mining draws an enormous amount of electricity so that's the first thing to check.