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Author Topic: I am new to mining. Please guide me  (Read 1309 times)
colorsoflife29
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June 29, 2016, 07:40:15 PM
 #1

hi everyone

i am new to mining. How it works and what i need? I am still learning about bitcoin account and their types. I will appreciate your comments.

Thanks  Smiley
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June 30, 2016, 06:11:20 AM
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If your new to bitcoin mining then dont bother getting too involved, youve missed the boat on it unless you have thousands to spend on hardware and next to free electricity. If you plan on mining alt coins then your going to need at least 1 decent gpu but preferably several to make a return in investment. Basically bitcoin mining is out the window for you.

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June 30, 2016, 06:19:18 AM
 #3

hi everyone

i am new to mining. How it works and what i need? I am still learning about bitcoin account and their types. I will appreciate your comments.

Thanks  Smiley

To mine bitcoin you there are several way.
1. Your own mining. You need internet connection and very good hardware. If you mine with low hardware you can't get coin easily.
2. Cloud mining. You buy online cloud mining, you don't need good hardware, pay electricity and maintain your miner. You just need buy some hashrate and you can have bitcoin/other coin. Note, buy from trusted cloud mining provider. I hope you want to use my refferal  Grin Grin.
3. Staking, you can mine alternative coin easily, you dont need good hardware. Just keep your wallet balance open and connect to internet. But this way, you need research profitable coin for staking.

When you mine coin, it's depend on your hardware and coin difficulty, if coin difficulty is very high so you only get small amount.

I hope, it's answer your question

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June 30, 2016, 10:11:09 AM
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mining is not profitable at all these days specially for new one who want to build a small farm.                                                                                                                                                                                                                                                                     
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June 30, 2016, 10:25:55 AM
 #5

hi everyone

i am new to mining. How it works and what i need? I am still learning about bitcoin account and their types. I will appreciate your comments.

Thanks  Smiley
No idea why begginers in bitcoin keep starting from mining. Its like i want to have gold so i will setup a gold mine somewhere, tell me how people.
You need millions of $ to start :>, of course u can get pickaxe and go to mountains to start also Wink.

colorsoflife29
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July 01, 2016, 03:37:26 AM
 #6

Well i was never interested in mining myself buy as i told you guys i am new to the bitcoin thing i made a thread asking bunch of people and they came up with many types of wallets desktop and web and i was so confused until i made my mind for blockchain,info or multibit but they said some have no transaction charges but they are insecure and some have charges and they are highlu secure but they also told me to mine the stuff through mining and thats the only reason i made this thread as they guided me to make one here otherwise i was not even sure where to go and ask about mining. I dont even know whether it is for extra wallet safety or for earning. I am a noob in these things. All i want is a safe wallet where i can anonymously receive my payments and then i can transfer them to my payoneer card and i am still struggling day and night to find solution so i can start something out but all my efforts are in vain so far.

I am still expecting someone would show up and clear up things and guide me with a clear step by step things to solve my issue

Thanks again though
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July 01, 2016, 12:23:15 PM
 #7

https://www.bitcoinmining.com/getting-started/
https://bitcoin.org/en/choose-your-wallet
These link will help you to getting started.
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July 01, 2016, 01:01:09 PM
 #8

mining is not profitable at all these days specially for new one who want to build a small farm.                                                                                                                                                                                                                                                                     

Not true so many varibles in it, you cannot go around making blanket statement's.  Some love to go around saying stuff like this "Mining is dead", "Not Profitable", etc.  But with right electricity price it can STILL be done and is being done.

With S9 there was a HUGE jump in efficiency so now more people can mine after having with it.   But many still will mine. I also dabble in Ether for fun, again still can be done.  OP what is your electricity rate?
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July 01, 2016, 03:21:46 PM
 #9

Mining is a thing that can be done for generating bitcoins. Anyone can start mining with proper knowledge as What currency you want to mine which scrypt support with your hardware for mining. etc and few more. as You want to go for pool mining or solo mining.

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July 01, 2016, 06:22:41 PM
 #10

I heard from a friend, it is very risky to mining with a laptop.
Is that true?

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July 01, 2016, 06:29:35 PM
 #11

I heard from a friend, it is very risky to mining with a laptop.
Is that true?

Not actually It depend hows your computer perform.

In mining there are two types 1) CPU Mining and 2) GPU mining

Different form run separately and used to mine different currency.

Also have to aware of use of cmd to enter into pool.

So by technical part there is no risk to use computer cpu or gpu power use for mining.

But second part is the power is generated by such computer or laptop is very low compare to Mining Hardware.

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July 01, 2016, 06:36:13 PM
 #12

Just choose in the different types of mining if you want altcoin go in altcoin you can mine there using GPU
In bitcoin you should need a asic miner like antminer s5 s7 or s9 that you can mine bitcoin with those hardware..

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July 02, 2016, 06:06:57 PM
 #13

I heard from a friend, it is very risky to mining with a laptop.
Is that true?

Not actually It depend hows your computer perform.

In mining there are two types 1) CPU Mining and 2) GPU mining

Different form run separately and used to mine different currency.

Also have to aware of use of cmd to enter into pool.

So by technical part there is no risk to use computer cpu or gpu power use for mining.

But second part is the power is generated by such computer or laptop is very low compare to Mining Hardware.

This is right, it's depends on how much difficulty the coin. But in the end mining with laptop is not really worth anymore, unless mining new coin, but it risk to mining new altcoin, easy to manipulate. Just need a research first to the coin development.
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July 03, 2016, 11:06:00 PM
 #14

if you are new and you want a complete knowledge about bitcoin. so i will suggest you to visit you tube and search there. i am hopeful that there you can get a complete description of mining. you can find answer of your all questions there.
krishna1
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July 04, 2016, 02:17:01 AM
 #15

Bro I suggest you to Stay away From Mining Because Now a days Mining is Not Profitable Because the Halving is coming and on Halving Reward For solving a Block Is Remain Half......
So Stay away From Mining!!!!!

Conus
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July 04, 2016, 03:07:05 AM
 #16

hi everyone

i am new to mining. How it works and what i need? I am still learning about bitcoin account and their types. I will appreciate your comments.

Thanks  Smiley

To mine bitcoin you there are several way.
1. Your own mining. You need internet connection and very good hardware. If you mine with low hardware you can't get coin easily.
2. Cloud mining. You buy online cloud mining, you don't need good hardware, pay electricity and maintain your miner. You just need buy some hashrate and you can have bitcoin/other coin. Note, buy from trusted cloud mining provider. I hope you want to use my refferal  Grin Grin.
3. Staking, you can mine alternative coin easily, you dont need good hardware. Just keep your wallet balance open and connect to internet. But this way, you need research profitable coin for staking.

When you mine coin, it's depend on your hardware and coin difficulty, if coin difficulty is very high so you only get small amount.

I hope, it's answer your question
To add to the above.  If you are looking to mine your own, please make sure you are in a good pool or be prepared to invest a lot of money, thousands.  When it comes to cloud mining, STAY AWAY FROM IT, they are mostly scams and the ones that are real will have your money ties up in it for a long period before you get your full investment back.  Last, when mining alternative coins, you need to do your research first.  There are some coins you can mine which you can not trade for there is no market for them.  Just keep doing your research and you will be ok.
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July 04, 2016, 04:32:41 AM
 #17

Bro I suggest you to Stay away From Mining Because Now a days Mining is Not Profitable Because the Halving is coming and on Halving Reward For solving a Block Is Remain Half......
So Stay away From Mining!!!!!
How can you say that mining is not profitable anymore and if it's not profitable anymore, why miners still operating their mining hardwares?, If you ask me mining will still profitable even though that the halving is near because the price is adjusting for the miners to not shutdown their mining hardware. So if the price is still high it will still profitable for miners of bitcoin.

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July 04, 2016, 03:09:41 PM
 #18

hi everyone

i am new to mining. How it works and what i need? I am still learning about bitcoin account and their types. I will appreciate your comments.

Thanks  Smiley
To start mining, you need a good computer with good components, especially the graphics card that will improve your profit from mining.
If you want more information about mining, I advice you to see here:
https://bitcointalk.org/index.php?board=14.0

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July 04, 2016, 03:37:17 PM
 #19

If your new to bitcoin mining then dont bother getting too involved, youve missed the boat on it unless you have thousands to spend on hardware and next to free electricity. If you plan on mining alt coins then your going to need at least 1 decent gpu but preferably several to make a return in investment. Basically bitcoin mining is out the window for you.

I am new in the world of mining but i knew a little about btc and i had also that normal laptop computer cant be use in mining?

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July 04, 2016, 05:40:14 PM
 #20

If your new to bitcoin mining then dont bother getting too involved, youve missed the boat on it unless you have thousands to spend on hardware and next to free electricity. If you plan on mining alt coins then your going to need at least 1 decent gpu but preferably several to make a return in investment. Basically bitcoin mining is out the window for you.

I am new in the world of mining but i knew a little about btc and i had also that normal laptop computer cant be use in mining?

It can be used, but it's not profitable these days.
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