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Author Topic: want to start mining  (Read 13224 times)
allankey
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September 12, 2016, 03:00:24 PM
 #161

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

sell your mobile phone, buying 2gb ram again and 1 Rx480
now im running ethereum classic mining with 2x Rx 480 and my earning arround 2etc perday  Wink



How long you expect before you ROI? Maybe 3 months down the road, you should sell your setup to recoup some funds.
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September 12, 2016, 03:35:26 PM
 #162

If bitcoin developers wanted us to still mine bitcoin using GPU or CPU they would kept option to mine BTC in Bitcoin Core client.
But they removed it in recent version. And for me it is a sign that individual mining of BTC is dead. Focus on altcoins if you have to mine.
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September 12, 2016, 06:58:05 PM
 #163

So its not profitable to mine as an individual? good to know, one less option to worry about.

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September 13, 2016, 02:16:16 PM
 #164

If bitcoin developers wanted us to still mine bitcoin using GPU or CPU they would kept option to mine BTC in Bitcoin Core client.
But they removed it in recent version. And for me it is a sign that individual mining of BTC is dead. Focus on altcoins if you have to mine.

Individual mining is still possible but not  on a regular high specced PC. Mining bitcoin would require ASIC which could definitely mine bitcoin but same as other said its not profitable anymore unless if you have free electricity and you have decent amount of money to invest on a mining farm which could make  you profitable but in CPU and GPU i think its impossible already but  on mining altcoin then its possible as of now.

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September 13, 2016, 08:21:00 PM
 #165

GPU mining is still very profitable I am still upgrading my GPU farm, last month I switched to Nvidia to save on electricity , NW is like 50-60% less power hungry them new AMD rx 4xx which use power as match as old 28nm

If you go Nvidia I would suggest GTX 1060 or GTX 1070, per day 1070 can make ~3-3.5$ and power usage per card is 130-140w (1070)

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September 13, 2016, 11:41:06 PM
 #166

right new to mining, have seen a friends mine and said for me to try, but everywhere i have seen people say its not worth it anymore but yet seem to go on about there mine :/, i have been given 3 antminer s1's and a s3 from a friend who had them kicking around as he has 5 s9's now, im going to get a psu for the s3 and run it while at work while on night shifts so no cost on electric for me, can get away when im alone because of the fan noise but will change them out to quite ones if i want to leave it running 24hrs is it worth me doing or just stick them on ebay
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September 14, 2016, 11:51:28 AM
 #167

You shouldn't do that now as it is really unprofitable at this moment


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September 14, 2016, 10:43:08 PM
 #168

yeah i have no costs, just got a psu for free from a friend aswell, so if its costing me nothing how is it unprofitable?? or am i missing some elitist with many petahash trying just to mine to hoard i dont understand why people are putting people off and if your in a pool as many hashes the better since you have more chance of solving stings but hey
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September 17, 2016, 05:58:13 PM
 #169

yeah i have no costs, just got a psu for free from a friend aswell, so if its costing me nothing how is it unprofitable?? or am i missing some elitist with many petahash trying just to mine to hoard i dont understand why people are putting people off and if your in a pool as many hashes the better since you have more chance of solving stings but hey

It depends on the electricity price. If you do not pay for the electricity, then it is very profitable to mine.
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September 17, 2016, 06:27:03 PM
 #170

yeah i have no costs, just got a psu for free from a friend aswell, so if its costing me nothing how is it unprofitable?? or am i missing some elitist with many petahash trying just to mine to hoard i dont understand why people are putting people off and if your in a pool as many hashes the better since you have more chance of solving stings but hey

It depends on the electricity price. If you do not pay for the electricity, then it is very profitable to mine.
Illegal your electricity with mining farm its risky to do because anytime they can trace you if they know that you are eating a large electricity in your house. or if you have solar it is better to have free electricity. it can be profitable without no risk.


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September 22, 2016, 10:51:35 PM
 #171

I dropped the idea of mining since the ROI period doesn't seems palatable to me. But I like the idea of selling the rig away after 3 months to recoup losses. But who would buy?
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September 23, 2016, 12:21:21 AM
 #172

I dropped the idea of mining since the ROI period doesn't seems palatable to me. But I like the idea of selling the rig away after 3 months to recoup losses. But who would buy?
It would be good idea , if you reached the half of your ROI and selling your Rig , you can pass your ROI instantly.
I think anyone wants to buy your RIG , but make sure you use an escrow and explain the details about your rig if you want to sell it online .

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September 23, 2016, 06:23:40 AM
 #173

I dropped the idea of mining since the ROI period doesn't seems palatable to me. But I like the idea of selling the rig away after 3 months to recoup losses. But who would buy?
It would be good idea , if you reached the half of your ROI and selling your Rig , you can pass your ROI instantly.
I think anyone wants to buy your RIG , but make sure you use an escrow and explain the details about your rig if you want to sell it online .

But if it is still profitable to mine, why sell the rigs. You can still make some profit if the rig does not devalue a lot.
allankey
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September 24, 2016, 06:56:18 AM
 #174

I dropped the idea of mining since the ROI period doesn't seems palatable to me. But I like the idea of selling the rig away after 3 months to recoup losses. But who would buy?
It would be good idea , if you reached the half of your ROI and selling your Rig , you can pass your ROI instantly.
I think anyone wants to buy your RIG , but make sure you use an escrow and explain the details about your rig if you want to sell it online .

Perhaps reach ROI for 50 percent and sell, will not gain profits. Maybe reach ROI of 60% then sell off the rig will make more sense, I think.
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September 24, 2016, 07:18:11 AM
 #175

I will advice you to learn how to trade bitcoin with other currency. Bitcoin mining are for those that has large capital 
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September 24, 2016, 11:07:51 AM
 #176

I will advice you to learn how to trade bitcoin with other currency. Bitcoin mining are for those that has large capital 

Bitcoin mining is not for the newbie. It is better to mine the altcoins with the graphics cards. They are much cheaper.
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September 24, 2016, 12:16:20 PM
 #177

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
Mining with that specs of pc will be no longer for bitcoin mining , i strongly suggesting that don't try to mine anymore because it is not profitable with that kind of specs to mine bitcoin therefor you can't get back your ROI there thus just enjoy the speed and the specs of your gadgets chuchu.


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September 24, 2016, 02:28:30 PM
 #178

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
Mining with that specs of pc will be no longer for bitcoin mining , i strongly suggesting that don't try to mine anymore because it is not profitable with that kind of specs to mine bitcoin therefor you can't get back your ROI there thus just enjoy the speed and the specs of your gadgets chuchu.

With that kind  of spec of a pc then for sure  it would   not even reach roi for   6 months.lol. CPU and GPU mining  is  not possible  as of  todays when you intend to  mine bitcoin because  in order to mine bitcoin  you  should need Asic which are  commonly used now  to  mine bitcoin but still it would  not assured you to be profitable since  bitcoins difficulty is raised.


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September 24, 2016, 02:56:45 PM
 #179

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

Not worth mining. Perhaps could mine Altcoins and sell it on exchanges such as Yobit for some Bitcoins. But if electricity prices are high, then it is totally not worth it.
Katimand
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September 24, 2016, 08:12:28 PM
 #180

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

Not worth mining. Perhaps could mine Altcoins and sell it on exchanges such as Yobit for some Bitcoins. But if electricity prices are high, then it is totally not worth it.

It is better to mine the altcoin. It is more profitable than mining the bitcoin directly. The ROI is quite fast.
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