Need Help to Start Bitcoin Mining

[faisaltas]

Hi All,

I heard about bitcoin mining & watched few videos on youtube as well but i have no idea how to start ? please assist me step by step i am new. looking forward to hearing from you.

BR

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[FUBAR-BDHR]

First if you don't have really cheap electric just stop.

You will need to invest in specialized ASIC miners like the bitmaintech s7 and a power supply for it.  You also need to make sure you have the wiring to handle the miners.  Once you have those you pick a mining pool, point the miners at in and that's pretty much it.  Just sit back and enjoy the heat and noise.

[notlist3d]

First if you don't have really cheap electric just stop.

You will need to invest in specialized ASIC miners like the bitmaintech s7 and a power supply for it.  You also need to make sure you have the wiring to handle the miners.  Once you have those you pick a mining pool, point the miners at in and that's pretty much it.  Just sit back and enjoy the heat and noise.

There is SO much good information out there.  OP look in hardware forum and speculation you will gain a LOT of info that most youtube videos simply do not have.  Mining is hard to if you don't have electricity price as mentioned above.

There are calculators my favorite is - https://bitcoinwisdom.com/bitcoin/calculator .  Keep in mind the difficulty change is hard to speculate long term.   But you can see current period with 100 percent confidence if you know your numbers.

[SFR10]

I'll list the things that you should consider prior to setting up a mining equipment:

1. Little to free electricity rate (as mentioned above)
2. Good mining location (you should have a place that could handle the noise and at the same time, doesn't have flammable surrounding)
3. Good air conditioning (you need good flow of cold air in order to reduce miners heat as much as possible)
4. Stable internet connection (the speed is not that important but it's consistency is important)
5. Depending on your budget, you will need to purchase the most efficient miner available in order to have the most profit overall
6. PSU or a power supply (as mentioned above)
7. Depending on how much your going to invest in a mining rigs, you should choose if you'll be mining solo or in a pool (if you have more than 200 TH/s of hash power, you could consider mining solo but anything less than that, you should only consider pool mining.

[faisaltas]

I'll list the things that you should consider prior to setting up a mining equipment:

1. Little to free electricity rate (as mentioned above)
2. Good mining location (you should have a place that could handle the noise and at the same time, doesn't have flammable surrounding)
3. Good air conditioning (you need good flow of cold air in order to reduce miners heat as much as possible)
4. Stable internet connection (the speed is not that important but it's consistency is important)
5. Depending on your budget, you will need to purchase the most efficient miner available in order to have the most profit overall
6. PSU or a power supply (as mentioned above)
7. Depending on how much your going to invest in a mining rigs, you should choose if you'll be mining solo or in a pool (if you have more than 200 TH/s of hash power, you could consider mining solo but anything less than that, you should only consider pool mining.

First of all thank to all of you who respond me. I am glad this forum have very kind & supportive friends.

As i am new so i am trying to understand electricity consumption, meanwhile please tell me the source where i can buy hardware with support.

BR

[notlist3d]

I'll list the things that you should consider prior to setting up a mining equipment:

1. Little to free electricity rate (as mentioned above)
2. Good mining location (you should have a place that could handle the noise and at the same time, doesn't have flammable surrounding)
3. Good air conditioning (you need good flow of cold air in order to reduce miners heat as much as possible)
4. Stable internet connection (the speed is not that important but it's consistency is important)
5. Depending on your budget, you will need to purchase the most efficient miner available in order to have the most profit overall
6. PSU or a power supply (as mentioned above)
7. Depending on how much your going to invest in a mining rigs, you should choose if you'll be mining solo or in a pool (if you have more than 200 TH/s of hash power, you could consider mining solo but anything less than that, you should only consider pool mining.

First of all thank to all of you who respond me. I am glad this forum have very kind & supportive friends.

As i am new so i am trying to understand electricity consumption, meanwhile please tell me the source where i can buy hardware with support.

BR

If you tell us your electricity price we can help you with the ROI.  Remember it's speculation so no one can say profit for sure, but with electricity price you can get a decent guess.

But you can get it off your last electric bill, a lot allow online at this point and can see over multiple months.  Should be pretty  easy to get this information and it is vital.

[PassThePopcorn]

I'll list the things that you should consider prior to setting up a mining equipment:

1. Little to free electricity rate (as mentioned above)
2. Good mining location (you should have a place that could handle the noise and at the same time, doesn't have flammable surrounding)
3. Good air conditioning (you need good flow of cold air in order to reduce miners heat as much as possible)
4. Stable internet connection (the speed is not that important but it's consistency is important)
5. Depending on your budget, you will need to purchase the most efficient miner available in order to have the most profit overall
6. PSU or a power supply (as mentioned above)
7. Depending on how much your going to invest in a mining rigs, you should choose if you'll be mining solo or in a pool (if you have more than 200 TH/s of hash power, you could consider mining solo but anything less than that, you should only consider pool mining.

First of all thank to all of you who respond me. I am glad this forum have very kind & supportive friends.

As i am new so i am trying to understand electricity consumption, meanwhile please tell me the source where i can buy hardware with support.

BR

If you tell us your electricity price we can help you with the ROI.  Remember it's speculation so no one can say profit for sure, but with electricity price you can get a decent guess.

But you can get it off your last electric bill, a lot allow online at this point and can see over multiple months.  Should be pretty  easy to get this information and it is vital.

Also if you do have really high electrical rates you (OP) may wish to find a host that offers a better rate. You might want to do this anyway if the hosting providers charge less than your costs are even if your electrical rate is semi reasonable.

List of hosts from the forum: https://bitcointalk.org/index.php?topic=622998.0

[Gaugh]

As it has been said, you need a really cheap source of electricity to make profit.

ASIC mining hardware will give you the best value for your money. GPU and the rest is getting outdated...

Kano.is is a good mining pool. Check this thread: https://bitcointalk.org/index.php?topic=1338693.new#new

I will recommend s7 mining software.

[w0mp]

Get free power or don't even think about mining.  If you really want to mine, I would suggest building a GPU rig and mine altcoins.  Its more fun, it will get you experienced with crypto, and the GPUs will at least have some resale value.  ASIC miners lose their value EXTREMELY fast.  You would probably be better off just buying BTC with your money instead and hold it for the eventual BTC moon landing.

[notlist3d]

I don't think there is any reason to really keep going on looking at OP's stats:

Date Registered:    April 29, 2016, 08:00:39 PM
Last Active:    April 30, 2016, 05:50:24 PM

I'm guessing he did the ROI math and figured out it's no longer a sure bet.  Watching a few youtube videos... guessing he did not get a ton of current info going into first post.  A day on this forum most likely gave him much better info.  And guessing he's not coming back.

[Cromvel]

From all information that I gathered here the key factor for mining is an electrical rates. But can't solar batteries support powerful mining rigs? For example I have a plenty of sun here and I'm thinking of buying a mining rig which is powered by solar batteries. Is this possible or is it just a mad man's dream?

[notlist3d]

From all information that I gathered here the key factor for mining is an electrical rates. But can't solar batteries support powerful mining rigs? For example I have a plenty of sun here and I'm thinking of buying a mining rig which is powered by solar batteries. Is this possible or is it just a mad man's dream?

For a lot it is expensive and cheap electricity win's out.  There is one big example of sucess look at buysolar's thread in hardware.   He has managed to make a nice setup that includes mining.

For most thought it will not happen just a lot of upfront costs.  It is highly based on location and you really need a expert like buysolar if you are going to be sucessfull.  So can it be done? Yes in some cases.  Is it cheap enough for mainstream profit? I don't think so unless you have expertise like buysolar.

[mookid]

You need to think about a lot of factors, as others said if you don't have cheap electricity it can be unprofitable to run the miners. If you do enter in this category, then you need to think about how much are you going to invest, if you plan to have more than 3 S7 then you need a dedicated electrical installations, with some breakers and grounded cables.

[dragonmining]

Glad your interested in joining the future of Bitcoin!

If you're having trouble mining for yourself or would just like to avoid the hassle, there are simpler solutions to mining Bitcoin.

Dragon Mining's 6 years of experience, state of the art technology and highly skilled team of computer technicians are offering their mining services for you. We offer a variety of cloud mining contracts so you're sure to find one suitable for you.

Dragon Mining also offers a variety of Antminer technology including the most power efficient Antminer s9.


Visit our website
www.dragonmining.net

Inquire
info@dragonmining.net

[NinjaFighter]

I dont prefer bitco miningbwith own equipmentbor online mining because of too expensive electricity and because all mining sites will become scam in some time.

[notlist3d]

Glad your interested in joining the future of Bitcoin!

If you're having trouble mining for yourself or would just like to avoid the hassle, there are simpler solutions to mining Bitcoin.

Dragon Mining's 6 years of experience, state of the art technology and highly skilled team of computer technicians are offering their mining services for you. We offer a variety of cloud mining contracts so you're sure to find one suitable for you.

Dragon Mining also offers a variety of Antminer technology including the most power efficient Antminer s9.


Visit our website
www.dragonmining.net

Inquire
info@dragonmining.net

You should make sure to include that you are not an official seller of Bitmain gear.  How you say "Dragon Mining also offers a variety of Antminer technology including the most power efficient Antminer s9." is a fancy way of saying you buy and resell gear.  And also kinda feels like you are trying to borrow LKETC's dragon miner model they had with your name to establish possible false trust.

When website creation is: "Created Date: 2016-07-29" I just don't see the 6 year's of company being there.   https://whois.icann.org/en/lookup?name=dragonmining.net but please feel free to correct if I'm missing something.

On cloud mining it really is hard to get a good reputation.  At this point I recommend people going to hashnest as it give a honest chance of ROI.  

[dragonmining]

Glad your interested in joining the future of Bitcoin!

If you're having trouble mining for yourself or would just like to avoid the hassle, there are simpler solutions to mining Bitcoin.

Dragon Mining's 6 years of experience, state of the art technology and highly skilled team of computer technicians are offering their mining services for you. We offer a variety of cloud mining contracts so you're sure to find one suitable for you.

Dragon Mining also offers a variety of Antminer technology including the most power efficient Antminer s9.


Visit our website
www.dragonmining.net

Inquire
info@dragonmining.net

You should make sure to include that you are not an official seller of Bitmain gear.  How you say "Dragon Mining also offers a variety of Antminer technology including the most power efficient Antminer s9." is a fancy way of saying you buy and resell gear.  And also kinda feels like you are trying to borrow LKETC's dragon miner model they had with your name to establish possible false trust.

When website creation is: "Created Date: 2016-07-29" I just don't see the 6 year's of company being there.   https://whois.icann.org/en/lookup?name=dragonmining.net but please feel free to correct if I'm missing something.

On cloud mining it really is hard to get a good reputation.  At this point I recommend people going to hashnest as it give a honest chance of ROI.  

Hello and thank you for your comments,
You've pointed out a valid point about our Antminers, we could make that more clear in the future. We're open to your comments as we do value customer opinion. Hence why we're entered these forums, we would like to speak to and get feedback from our client base. About our website, it is in fact a very recent investment of ours although Dragon Mining has been running for over 6 years prior to our platform. You may see this by viewing our eBay which I will link down below. We have been within the Bitcoin business for quite some time now and although our company name may appear to be an attempt at "false trust" at first glance, this is not the case. We are unfortunately aware of how difficult it may be to get a good reputation with cloud mining but we invite you to monitor Dragon Mining's success on our new platforms as we are confident of our service. If you have any further concerns feel free to contact us directly or contact one of our selling platforms such as eBay who can confirm we've registered the Dragon Co. back in 2010.


http://www.ebay.com/usr/dragonmining
http://www.dragonmining.net/