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Author Topic: New to Mining need help !  (Read 573 times)
boboyolo
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October 28, 2015, 03:34:34 PM
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Hello im new to Cryptocurrency mining i would like to invest in a good hardware to start electricity is not a problem for me because where im from its free for families like me.

I saw alot of people being put of the idea because of electricity cost and being that it wont effect me I think I can make some profit quickly with a good hardware and good alternative Cryptocurrency to bitcoin such as altcoin or litecoin so I need some expert help in getting me started and thanks in advance  Smiley
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notlist3d
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October 28, 2015, 03:38:22 PM
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I suggest doing some reading on mining.  Really Bitcoin mining is sha256 mining.  And most altcoins worth anything is scrypt.

But most new gear is base on mining BTC.  So it by far is the most common at this point.  As far as getting started you really need to look at gear out there.  Do some ROI math, and choose what you want to buy.

But you need to make a budget.  Also be aware most "free" don't have a ton of extra electricity so don't go crazy ordering a ton of miners to start. If you tell us more about electricity we can tell you more about how much you can handle.
rockyforever
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October 28, 2015, 03:38:41 PM
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use the search button.

all your questions will be answered.

have a good day.

philipma1957
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October 28, 2015, 03:44:23 PM
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Hello im new to Cryptocurrency mining i would like to invest in a good hardware to start electricity is not a problem for me because where im from its free for families like me.

I saw alot of people being put of the idea because of electricity cost and being that it wont effect me I think I can make some profit quickly with a good hardware and good alternative Cryptocurrency to bitcoin such as altcoin or litecoin so I need some expert help in getting me started and thanks in advance  Smiley

first of all where do you live?

country is all I need.

second of all is how much power can you burn for free?

the best equipment right now is the antminer s-7  it burns 1200 watts 24/7/365    it earns about  11.85 usd a day before power.

  it costs a lot it costs 1650 usd

gear like the antminer s-3  earns  1.20 usd a day it burns 400 watts 24/7/365     it costs around 100 usd 

both of the above need power supplies  the s-7 needs a very good one.  the s-3 can use a cheaper one.

I mine alt coins with https://simplemining.net...
I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
boboyolo
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October 28, 2015, 09:46:54 PM
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I live in Kuwait where if anyone works in the government they get free electricity and my dad works there so its not a concern to me I just want to know the best hardware to get without worrying about electricity cost
SeventhWatcher
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October 29, 2015, 01:58:28 AM
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From what I'm seeing S5+,S7, KNC Neptune,  sp35/31. I saw a few on suryastore that have good TH/price of machine but not sure if the site is legit or not. I like the look of the rockminer and smart miners.

Also electricity is a factor. I'd rather a pissed off landlord who bundles their electricity knocking on my door rather government officials. And a dad with no job. Seriously dude think this through. Think of the environmental impacts of running a bunch of inefficient cheap machines just because you think you can.

Edit: Google search and back in March. Tells all. It's amazing isn't it lol
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October 29, 2015, 02:19:27 AM
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I live in Kuwait where if anyone works in the government they get free electricity and my dad works there so its not a concern to me I just want to know the best hardware to get without worrying about electricity cost

As the others mentioned, tell us about your available power.
How many watts do you have available? Or, amps at volts?

Best of luck

Transaction fees go to the pools and the pools decide to pay them to the miners. Anything else, including off-chain solutions are stealing and not the way Bitcoin was intended to function.
Make the block size set by the pool. Pool = miners and they get the choice.
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October 29, 2015, 02:28:34 AM
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I live in Kuwait where if anyone works in the government they get free electricity and my dad works there so its not a concern to me I just want to know the best hardware to get without worrying about electricity cost

This is good the above question about how many amps you have is good to know.  Also I'm not familiar with Kuwait is it 220/240? Or 110/120?

But after figuring that out the next thing is sound do you have extra room, or area to put miners in?  Or will they be in a shared room?  This makes a HUGE difference.
Meech
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October 29, 2015, 03:38:58 AM
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Can I come live with you?  Wink 
First off be ready for the heat, the noise.  You should consider those factors... you don't want to piss the
parents off.
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