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Question: Mining for Dummies?  Is it still worth building a rig?
Yes, I'm building one right now - 2 (15.4%)
Better off going for Litecoin - 2 (15.4%)
No, trade currency now before it gets more press... - 9 (69.2%)
Total Voters: 13

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Author Topic: Newbie Walkthroughs  (Read 528 times)
hennessyhemp
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February 21, 2013, 05:05:56 PM
 #1

This is absolutely amazing...I should have been into this since I told my friend who has now become one of the writers for Bitcoin magazine.  Alas...I've finally got some skin in the game.  I fully intend to become a part of this community...and when my hemp farm becomes operational, bitcoin may be a welcome exchange for some of my wares (like a hemp home...hempcrete, checkitout!).

And the fact that some of the value of this currency has been derived from my most loved plant, makes this all the better.

Anyway, back to the question...is building a mining rig worthwhile right now, or is the complication factor such that it is better to trade straight currency for bitcoin?  In other words, where should I be spending my money right now on bitcoin...it's such a volatile market, but I see infrastructure being built, and Forbes articles, pointing this in the right direction...so what should us newbies do, build a rig and mine in a pool, or buy and hope to hell it takes off even more...like it is?

Please add more BTC here (my son will apprecciate it when he's older): 14WsxbeRcgsSYZyNSRJqEAmB1MKAzHhsCT
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February 21, 2013, 05:08:31 PM
 #2

This is absolutely amazing...I should have been into this since I told my friend who has now become one of the writers for Bitcoin magazine.  Alas...I've finally got some skin in the game.  I fully intend to become a part of this community...and when my hemp farm becomes operational, bitcoin may be a welcome exchange for some of my wares (like a hemp home...hempcrete, checkitout!).

And the fact that some of the value of this currency has been derived from my most loved plant, makes this all the better.

Anyway, back to the question...is building a mining rig worthwhile right now, or is the complication factor such that it is better to trade straight currency for bitcoin?  In other words, where should I be spending my money right now on bitcoin...it's such a volatile market, but I see infrastructure being built, and Forbes articles, pointing this in the right direction...so what should us newbies do, build a rig and mine in a pool, or buy and hope to hell it takes off even more...like it is?


Do your research!


When the subject of buying BTC with Paypal comes up, I often remember this: 

Insanity: doing the same thing over and over again and expecting different results.

Albert Einstein
DannyHamilton
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February 21, 2013, 06:23:39 PM
 #3

- snip -
. . . is building a mining rig worthwhile right now, or is the complication factor such that it is better to trade straight currency for bitcoin? . . .
- snip -
I suspect that the "complication factor" isn't the problem.  Some of the problems you are likely to encounter are:

  • ASIC are coming online, and if you get on the list now, there won't be a good profit potential by the time you take delivery
  • Your biggest ongoing cost will be electricity.  Others with cheaper access to electricity can afford to outpace you and drive down your profitability

Of course, if the exchange rate continues to skyrocket, perhaps neither of those will matter.  If you can manage to pull in 0.00001 BTC per month, but the exchange rate jumps to $100,000,000 per bitcoin, you'll be pulling in $1000 worth of BTC per month!

hennessyhemp
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February 21, 2013, 07:23:13 PM
 #4

So Asics cards and Solar Panels and/or a tesla free energy device should be my next play?

Please add more BTC here (my son will apprecciate it when he's older): 14WsxbeRcgsSYZyNSRJqEAmB1MKAzHhsCT
hennessyhemp
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February 21, 2013, 07:32:45 PM
 #5

Wow...that poll is telling huh?  Albeit self-fulfilling, and hell yes, buy some, make mine worth more!

Please add more BTC here (my son will apprecciate it when he's older): 14WsxbeRcgsSYZyNSRJqEAmB1MKAzHhsCT
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February 21, 2013, 07:33:29 PM
 #6

So Asics cards and Solar Panels and/or a tesla free energy device should be my next play?
To much capital involved in Solar Panels (and you can only mine on sunny days?).  Better to go for the Tesla Free Energy Device.  I've seen a few "over-unity" wheels demonstrated on YouTube, you might want to give one of them a try.  So far they all come close, but nobody has perfected the design yet.  From what I've seen/heard, apparently it will just take a bit more tweaking and the solution will be available.

The internet needs a sarcasm font really badly.  I just know someone is going to take me seriously.

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February 21, 2013, 07:35:13 PM
 #7

So Asics cards and Solar Panels and/or a tesla free energy device should be my next play?
To much capital involved in Solar Panels (and you can only mine on sunny days?).  Better to go for the Tesla Free Energy Device.  I've seen a few "over-unity" wheels demonstrated on YouTube, you might want to give one of them a try.  So far they all come close, but nobody has perfected the design yet.  From what I've seen/heard, apparently it will just take a bit more tweaking and the solution will be available.

The internet needs a sarcasm font really badly.  I just know someone is going to take me seriously.

ARE YOU SERIOUS BRO?  THATS AMAZING!

DannyHamilton
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February 21, 2013, 07:39:12 PM
 #8

So Asics cards and Solar Panels and/or a tesla free energy device should be my next play?
To much capital involved in Solar Panels (and you can only mine on sunny days?).  Better to go for the Tesla Free Energy Device.  I've seen a few "over-unity" wheels demonstrated on YouTube, you might want to give one of them a try.  So far they all come close, but nobody has perfected the design yet.  From what I've seen/heard, apparently it will just take a bit more tweaking and the solution will be available.

The internet needs a sarcasm font really badly.  I just know someone is going to take me seriously.
ARE YOU SERIOUS BRO?  THATS AMAZING!
Oh, the temptation to play along. . .

I resist the urge.

hennessyhemp
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February 21, 2013, 08:47:30 PM
 #9

Believe me, I've watched the majority of those videos...and I still think Tesla had already figured one out.  Though there are some interesting advances in the Iron Man like technology...we're actually getting close to harnessing a cold fusion generator...that'd help mine some coin!

Please add more BTC here (my son will apprecciate it when he's older): 14WsxbeRcgsSYZyNSRJqEAmB1MKAzHhsCT
hennessyhemp
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February 21, 2013, 09:41:53 PM
 #10

http://www.youtube.com/watch?v=zZ2QciCN5Ks

How come this movie looks like early 80's and yet this is still not available today?

This would make a pretty sweet generator for a mining rig, no sunlight required.

Please add more BTC here (my son will apprecciate it when he's older): 14WsxbeRcgsSYZyNSRJqEAmB1MKAzHhsCT
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February 21, 2013, 10:02:07 PM
 #11

http://www.youtube.com/watch?v=zZ2QciCN5Ks

How come this movie looks like early 80's and yet this is still not available today?

We've got hydrogen fuel cells already, what are you talking about?
hennessyhemp
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February 22, 2013, 04:40:23 PM
 #12

Quote

We've got hydrogen fuel cells already, what are you talking about?


Where's my hydrogen powered robot with my coffee?

Please add more BTC here (my son will apprecciate it when he's older): 14WsxbeRcgsSYZyNSRJqEAmB1MKAzHhsCT
greyhawk
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February 22, 2013, 05:39:07 PM
 #13

Quote

We've got hydrogen fuel cells already, what are you talking about?


Where's my hydrogen powered robot with my coffee?

http://news.discovery.com/tech/alternative-power-sources/robot-jellyfish-hydrogen-120321.htm
hennessyhemp
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February 28, 2013, 06:20:25 PM
 #14

So it's coming soon, to an island near Japan, then ten years later they'll bring them here, huh?

Please add more BTC here (my son will apprecciate it when he's older): 14WsxbeRcgsSYZyNSRJqEAmB1MKAzHhsCT
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