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Author Topic: 100% Newbie  (Read 2528 times)
Malrow
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November 03, 2015, 09:00:54 AM
 #1

Hi guys

I received my first bitcoin as a birthday present in October this year. But now I need to know how mining works and how I can earn more bitcoins so I can start trading? Anyone out there that can give me a quick training session to get started? I will greatly appreciate any assistance!

Thank you and have an awesome day  Smiley

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November 03, 2015, 09:04:13 AM
 #2

Hi guys

I received my first bitcoin as a birthday present in October this year. But now I need to know how mining works and how I can earn more bitcoins so I can start trading? Anyone out there that can give me a quick training session to get started? I will greatly appreciate any assistance!

Thank you and have an awesome day  Smiley



Well this is asked a lot and the process is pretty simple;

Where you want to mine (in what). What does your electricity rate cost. What is your budget for purchasing miners. What is your outdoor temperature range over the course of a year?

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Malrow
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November 03, 2015, 10:45:49 AM
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Thank you for helping me with my first small step. I've found a few videos on You Tube that might help me to get a bit more clued up.

Thanks and happy trading!  Cheesy
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November 03, 2015, 11:56:05 AM
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It's unlikely it would be viable for you to directly mine bitcoins any more. It's dominated by warehouses in far away countries filled with thousands of specialist machines running on free or super cheap electricity.

You might be able to mine a different coin and swap it for bitcoin but knowing which one is worthwhile is a tough call.

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November 03, 2015, 12:03:30 PM
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I trade my coins on ecoin.eu and you can also try this website or a website of your choice. Currently, the BTC price is high and so it's a good time to start and earn some profit. Mining is good for those bitcoiners who have access to free electricity only so I too haven't tried mining. You can choose to trade in gift cards as well and buy gift cards at 60%-70% and sell it for 80-90%.
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November 03, 2015, 01:05:31 PM
 #6

Hi guys

I received my first bitcoin as a birthday present in October this year. But now I need to know how mining works and how I can earn more bitcoins so I can start trading? Anyone out there that can give me a quick training session to get started? I will greatly appreciate any assistance!

Thank you and have an awesome day  Smiley



I suggest start out by reading about bitcoin in general and blockchain.  That will be first things there is good info on the forums and videos on youtube even. 

You should do a good amount of research before you start investing.  If done wrong you will lose money.  Also never invest more then you can lose.  Stay away from scam investments.

As far as quick training there is not a magic way to train you quick.  It will take reading and learning on your own, with help of forum.  But you need to learn a lot on your own as someone teaching it all would be very time consuming for them.
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November 03, 2015, 01:52:16 PM
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this helped site helped me out a lot:

http://www.cryptocoinsrevolution.com/

a lot of useful information on it
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November 03, 2015, 04:50:47 PM
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I would suggest bitcoin documentaries The Rise and Rise of Bitcoin and others. You will know a lot more about bitcoin and have fun also Smiley

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November 03, 2015, 05:12:34 PM
 #9

Hi guys

I received my first bitcoin as a birthday present in October this year. But now I need to know how mining works and how I can earn more bitcoins so I can start trading? Anyone out there that can give me a quick training session to get started? I will greatly appreciate any assistance!

Thank you and have an awesome day  Smiley



I can give you some advice to learning by doing is the great method for learning how to trade is haste.
For seeking some capital you can earn by faucet and re-collect again until you have enough value to buy prefered altcoin.
Then learn about graph history and you may predice what next value in the future. All you need is an experience before to be an expert Trader


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November 03, 2015, 07:26:21 PM
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I would suggest bitcoin documentaries The Rise and Rise of Bitcoin and others. You will know a lot more about bitcoin and have fun also Smiley

 Watched it yesterday, really good documentarie got me hooked on bitcoins
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November 03, 2015, 09:23:35 PM
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Mining is a tough market right now, even with the rising cost of bitcoin. If you have expensive electricity then forget about it. Also forget about mining anything with your CPU or GPU.
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November 03, 2015, 10:28:38 PM
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Hey mate, welcome to the forum and to the Bitcoin world! Mining is pretty much dead for us ordinary people. The best thing to do is to forget about it completely.

You should learn, read and research Bitcoin and find yourself some spot in this ecosystem. There are many things to do, but you need to understand the technology first.

We are here to help you, with all of the questions that you might have!

Cheers!
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November 03, 2015, 10:32:42 PM
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Hey mate, welcome to the forum and to the Bitcoin world! Mining is pretty much dead for us ordinary people. The best thing to do is to forget about it completely.

You should learn, read and research Bitcoin and find yourself some spot in this ecosystem. There are many things to do, but you need to understand the technology first.

We are here to help you, with all of the questions that you might have!

Cheers!

With the BTC price as it is now, its even profitable to mine now at exorbitant electricity costs for people with S5's. So Calling it dead and recommending someone to just forget about all of it seem like a bit short on a proper recommendation.

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November 04, 2015, 05:49:03 AM
 #14

Welcome and happy birthday!

Why do you want to start mining?

Why do you want to trade BTC?

Understanding your goals will help you decide what course to take - mining and trading may not get you to where you want to be.

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November 04, 2015, 06:22:48 AM
 #15

Mining is a tough market right now, even with the rising cost of bitcoin. If you have expensive electricity then forget about it. Also forget about mining anything with your CPU or GPU.
True, if your trying to mine straight bitcoin.  However, you can setup a couple of relatively decent mid-range or better GPU's to mine an altcoin and then convert it to BTC.  For example, 2x 7970's hashing about 46MH/day of ethereum will currently earn between ~$1.80-$2.02/USD/day

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November 04, 2015, 07:38:17 AM
 #16

right now there is not much to trade, it's a totally run-up, mini dump here and there are very hard to follow, unless you have  abot, and it's all about bots, since ages

it's better to just buy and hold, don't do anything else
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November 05, 2015, 06:54:16 PM
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Welcome on board! This forum is a great community and the best place to start with and learn about Bitcoin!

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November 05, 2015, 07:29:54 PM
 #18

how I can earn more bitcoins so I can start trading?

so you want to start trading without knowing what bitcoin is  ? also the subject '100% newbie' to much suspicous ?
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November 05, 2015, 09:47:46 PM
 #19

how I can earn more bitcoins so I can start trading?

so you want to start trading without knowing what bitcoin is  ? also the subject '100% newbie' to much suspicous ?

Trading with altcoins is a easy way to lose money.  Sure some will show amazing gains... but you really have to research the crap out of it and have some luck.  So many are pump/dump you lose money holding long term.

Bitcoin in the easiest to sit on and hold.  You don't have to trade it if new and unsure you can just hold it long term.  It's much safer.
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November 06, 2015, 12:42:38 AM
 #20

Trading bitcoin is similar to FOREX trading. IF you are not familiar with currency trading maybe you should learn more before you do it with bitcoin.
The one thing you should know is volatility of bitcoin market, price is extremely unstable and can change +- 25% over night.


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