Newb question... need help!

[phishead]

Hey guys! So I've been lurking here for a while and I'm pretty new to mining cryptonotes/cryptocurrencies and needed some advice as to how to go about mining profitable coins.  As of right now I'm really liking the potential future of Monero (XMR) and would preferably like to mine that, but am open to other coins.  I have tried mining with minergate, eobot, and other sites but with no avail.

Here are my desktop specs:

Windows XP
AMD Athlon 64
NVIDIA GeForce 6150 LE
2.00 GHz, 960 MB of RAM

Is my computer too old/does it have enough processing power? I've read multiple forums and posts that say that NVIDIA mining is useless, and then I would read somewhere else that certain coins allow miners with old computers the chance to mine and make a profit. So as of right now I'm a little confused as to what miner/wallet to download and where to download it, If I should use Linux or Ubuntu (and how to use them, where to download), if cloud mining is worth the money to not worry about mining on my own computer, etc.

So any opinions on what I should do would be much appreciated.  

[bitbabba]

have you ever heard about POS (proof of stake)?
I think that with your equipement is worth more than POW

[phishead]

have you ever heard about POS (proof of stake)?
I think that with your equipement is worth more than POW

Yes I've heard about it briefly when researching the different types of mining procedures and the differences between cryptocurrencies and cryptonotes... but could you explain a little further, because I'm not exactly sure what it is?

Also which coins use PoS and how would I go about using it?

Thanks in advance!

[bitbabba]

have you ever heard about POS (proof of stake)?
I think that with your equipement is worth more than POW

Yes I've heard about it briefly when researching the different types of mining procedures and the differences between cryptocurrencies and cryptonotes... but could you explain a little further, because I'm not exactly sure what it is?

Also which coins use PoS and how would I go about using it?

Thanks in advance!

Try to check netcoin and clams.
I think the first one, and most famous is peercoin but I'm not sure.

[phishead]

have you ever heard about POS (proof of stake)?
I think that with your equipement is worth more than POW

Yes I've heard about it briefly when researching the different types of mining procedures and the differences between cryptocurrencies and cryptonotes... but could you explain a little further, because I'm not exactly sure what it is?

Also which coins use PoS and how would I go about using it?

Thanks in advance!

Try to check netcoin and clams.
I think the first one, and most famous is peercoin but I'm not sure.

Ok I checked out netcoin and it seems to be a dead coin, or am I wrong? Next up for me is to check out clams, but I have to get some work done tonight for my real job  ...

But quick question, is there no real benefit from me PoW'ing miners with my current desktop computer setup?

[tanoury]

That is a pretty slow computer you have there. My guess is no, it will not be profitable. But don't forget the fun factor!

When you mine a coin, the pool you are mining at will give you an estimate (based on your computers speed) as to how many coins you will mine in 24 hours. Just go to one of the exchanges like cryptsy and see how much would you make if you sold that amount of coins.

I'll let you rent one of my rigs FREE for three hours to try things out :-)