want to start mining

[notlist3d]

when large companies are mining bitcoins then why is the transacrions are still so slow do something other are also effecting the transactions?

I checked the date of this post before deciding to reply. To be honest, it is not worth mining with a computer anymore. So, let's ignore the possibility of mining with phone. Nowadays, large companies is mining Bitcoin in a large farm with hundreds of mining hardware. It costs a lot of electricity to mine Bitcoin. In other to sucess, one need to be faster than the competitors. With a 2.8 GHz processor and 500 kbps internet connection, you cannot get anywhere near 1 BTC profit. Check Amazon.com for some cheap mining hardware and learn how to use them.

If your friend and you really want to mine Bitcoin on this computer, try some new Altcoin that is easy to mine.

can you suggest some altcoins that my friend should go for atleast for his satisfaction and btw which mining pool is best for bitcoin and altcoins

there is only magi that is minable with a cpu and monero, but monero diff is high now, so there are not a good profit to be made, you will waste your time with that setup

you need at least one 750ti to mine something in the altcoin world

Uh, there are many CPU-only coins. But the cost of energy usage on CPUs is huge. In my situation, for example, my CPU running at full is 230w, compared to my video card at like 180.

those many are not profitable, actually there is zero profitable coin to mine with cpu right now, you can try better your luck with some gpu coin

CPU and GPU day's are over.  Even if you make money it would never pay off PC or processor or GPU.  Those day's are just over they really are.  Some coins like burst will brag trying to get new people to try harddrive mining... and it's a few dollars a month for most. 

OP you will not like it but it's true give it up on GPU/CPU.  Buy a asic if you want to mine you can do a stick miner if wanting to learn. Or big miner if low electricity.

[avw1982]

Today one of my friend hit me with his question that he want to start bitcoin mining but i am a noob too in mining thing so i though it is the right time to ask you guys about it
his pc has

2gb ram
Intel 2.8 Ghz processor
500 gb HDD
Internet - coming soon 500kbps download speed
 
and his mobile has(for web mining) :

2gb Ram
Intel 1.6 Ghz
Internet - download speed 4-5 mbps

he asked me 1.what pool should he use? 2.what software he should use and some additional information about this. precautions and guides are welcome too

I don't think so this only enough to start mining Bitcoin mining is as more miners join, the rate of block creation will go up. As the rate of block generation goes up, the difficulty rises to compensate which will push the rate of block creation back down. Any blocks released by malicious miners that do not meet the required difficulty target will simply be rejected by everyone on the network and thus will be worthless. best you can go amazon to purchase the bitcoin mining machine:)

[bctmke]

If you want to learn / play with altcoins go ahead (and you can find altcoins to do so easily in the altcoin section).  But do NOT build a system to do so.

If you want to get involved in BTC you can buy it on one of the many exchanges out there.

OR

You can grab a stickminer or two in order to mess with things and earn some dust (that will eventually accumulate if you just let it run for ages and ignore it).

https://bitcointalk.org/index.php?topic=464496.0

Here's a list of many available.  It'll give you reason to learn about BTC, wallets, pools, securing the network, etc.

[ivanst776]

Mining will kill your pc and your mobile if you start mining, but i would suggest to use it for anything else like offline wallet if you really don't know what to do with these two devices.

[notlist3d]

Mining will kill your pc and your mobile if you start mining, but i would suggest to use it for anything else like offline wallet if you really don't know what to do with these two devices.

I don't think he said if it was a dekstop or laptop.  Desktops are harder to kill.  Granted if using a GPU it can be pushed and killed... been there.

But it is not worth doing as you lose money at this point.  And I'm still not sure what he means by web mining... I wish internet could bring a income but i have gigabit and made 0 off web.

[larem]

If you have cheap electric go for it.

Even if you have FREE electricity, you're wearing out your systems, so you're losing money. Horrible advice.

[Sturgeon]

i recomended you to start mining with rent hash power at https://www.miningrigrentals.com/ then you calculate yor earning and ROI
i have tried rent some power and mining altcoin ( new altcoin) and im lose ~0.02

[larem]

i recomended you to start mining with rent hash power at https://www.miningrigrentals.com/ then you calculate yor earning and ROI
i have tried rent some power and mining altcoin ( new altcoin) and im lose ~0.02

Why would people rent out their hardware if they were earning less than they would just, you know, using it? Common sense, my friend.

[Sturgeon]

i recomended you to start mining with rent hash power at https://www.miningrigrentals.com/ then you calculate yor earning and ROI
i have tried rent some power and mining altcoin ( new altcoin) and im lose ~0.02

Why would people rent out their hardware if they were earning less than they would just, you know, using it? Common sense, my friend.

are you have tried mining ? real mining altcoin/bitcoin with real hardware ?
or you have tried mining with rent power ?
you have to try it before talk about it,,

mining altcoin and bitcoin is very diffirent
for me if you want to mining with real hardware you have to try rent some power then calculate your ROI with your earning

[Kevinatin]

If your electricity price is high. It is better not to mine directly. You can buy some bitcoin now, the price will rise, you can still make some profit.

[lahm-44]

i recomended you to start mining with rent hash power at https://www.miningrigrentals.com/ then you calculate yor earning and ROI
i have tried rent some power and mining altcoin ( new altcoin) and im lose ~0.02

do you really this it is profitable well i dont see any scope of profit on this kind of stuff

If your electricity price is high. It is better not to mine directly. You can buy some bitcoin now, the price will rise, you can still make some profit.

my electicity price is not very high but still i dont think this time my friend should go for mining

[larem]

i recomended you to start mining with rent hash power at https://www.miningrigrentals.com/ then you calculate yor earning and ROI
i have tried rent some power and mining altcoin ( new altcoin) and im lose ~0.02

Why would people rent out their hardware if they were earning less than they would just, you know, using it? Common sense, my friend.

are you have tried mining ? real mining altcoin/bitcoin with real hardware ?
or you have tried mining with rent power ?
you have to try it before talk about it,,

mining altcoin and bitcoin is very diffirent
for me if you want to mining with real hardware you have to try rent some power then calculate your ROI with your earning

I've rented (both to and from) and mined nearly every type of algorithm there is. Again, if I could make $1.00 off my hardware, why would I rent it out to you for less? That would be stupid. So you're either paying more than the renting is worth (losing money) or you're losing money (losing money). It makes no economical sense.

[Nathland]

I've rented (both to and from) and mined nearly every type of algorithm there is. Again, if I could make $1.00 off my hardware, why would I rent it out to you for less? That would be stupid. So you're either paying more than the renting is worth (losing money) or you're losing money (losing money). It makes no economical sense.

For the same PoW algorithm, there are many coins out there. I cannot mine each of them profitably. So I rent out my rig.

[Amph]

i recomended you to start mining with rent hash power at https://www.miningrigrentals.com/ then you calculate yor earning and ROI
i have tried rent some power and mining altcoin ( new altcoin) and im lose ~0.02

Why would people rent out their hardware if they were earning less than they would just, you know, using it? Common sense, my friend.

are you have tried mining ? real mining altcoin/bitcoin with real hardware ?
or you have tried mining with rent power ?
you have to try it before talk about it,,

mining altcoin and bitcoin is very diffirent
for me if you want to mining with real hardware you have to try rent some power then calculate your ROI with your earning

i have tried and it's a wast of time, you can only lose there

i explain to you when you can actually use it for profit, basically it was good in the past because with altcoin you cna instamine a shitload of block early at launch, by renting for few hours a huge hahspower, now it's not the case anymore

but you can try your luck on mining solo with bitcoin by renting a great numbers of tera and see if you take the block, although it's really a gamble...

[niktitan132]

lol your friend and his computer are about 5 years too late.

[Hazir]

lol your friend and his computer are about 5 years too late.

5 years is a little too much in the past, but in 2012 and even 2013 mining in your home was profitable.
I guess that past 2013 the only way to real profit from bitcoin mining is own a specialized mining farm with hundreds of ASICs.

[Relex]

Dont unless you have very cheap electric.

[niktitan132]

lol your friend and his computer are about 5 years too late.

5 years is a little too much in the past, but in 2012 and even 2013 mining in your home was profitable.
I guess that past 2013 the only way to real profit from bitcoin mining is own a specialized mining farm with hundreds of ASICs.

Yeah but not really what the set up they were working on. By 2013 we had asic and before that we had killer fpga's.

[BTC LOVER]

Very nice thread guys 

regards
BTC LOVER

[nwfella]

With that hardware configuration there really isn't a whole lot your friend can do insofar as mining is concerned.  Without some dedicated ASIC hardware hashing away his best bet would be either:
a.) don't mine at all and just purchase coins and hold
or
b.) If really wanting to mine look into mining some competing algorithms that are more GPU friendly (i.e. x11, x13, ethash, etc.)