Personal Mining

[neking]

Hi there. I am new in bitcointalk. Give me chance to share my thing here.
I would like to make mining for my personal daily or monthly income.
it is any chance to make bitcoin in home? Please advise me. I am noob for technical thing. so please basic and step by steps. OR give me link to learn.

Thank for your help all buddy.
neking

[1715659052]

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[1715659052]

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[1715659052]

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[shield132]

Hi, yes of course you can mine bitcoin in home, but it will be useless if you pay much in electricity and it's also very noisy. For mining, you need bitcoin miner such as antminer or graphics card (with graphics card you can mine also altcoins) and internet access.

Also try to use google.

One link which I found: https://cryptocointalk.com/topic/9505-how-to-solo-mine/

[Cuidler]

The most important factor in mining is electricity cost, because you basically burn electricity in exchange for coins. If you pay over 10 cents per KWh, then your out of profitable mining in my opinion. 10 cents or lower you could start looking at GPU altcoin mining, and if your the lucky one with 5 cents or lower, you might consider Bitcoin mining.

But mining generate heat and noise, so you must consider this as well if you have good place for the miner in your house. The noise from Bitcoin miners is higher than you can accept in living room in my opinion.

[Raimonn]

Hi there. I am new in bitcointalk. Give me chance to share my thing here.
I would like to make mining for my personal daily or monthly income.
it is any chance to make bitcoin in home? Please advise me. I am noob for technical thing. so please basic and step by steps. OR give me link to learn.

Thank for your help all buddy.
neking

If you want to mine on home you need to have a good internet connection and cheap electricity costs. If you have this two things, you can buy  an S-9 and start mining. But if you don't have cheap electricity forget mining.

[leowonderful]

Hi there. I am new in bitcointalk. Give me chance to share my thing here.
I would like to make mining for my personal daily or monthly income.
it is any chance to make bitcoin in home? Please advise me. I am noob for technical thing. so please basic and step by steps. OR give me link to learn.

Thank for your help all buddy.
neking

If you want to mine on home you need to have a good internet connection and cheap electricity costs. If you have this two things, you can buy  an S-9 and start mining. But if you don't have cheap electricity forget mining.

You don't need great internet to mine. You can mine on dial-up if you want, mining isn't very related to latency, and even with the slowest internet, the worst you'll get is discarded shares. S7-LNs work great for cheap electricity, if you're truly new, as they provide reliable hashrate at a good efficiency. The S9 is probably going to be your best bet for profit, but if you are actually new, I highly suggest you get the S7-LN to see how things work here. Otherwise, good luck!

[Gahs]

He doesn't need to buy the S7-LN only to buy the S9 later, he can start learning with the S9. I would advice you to join a mining pool at first, hang out with other miners, learn the tricks and know the best way to make profit. When you are ready, then you can mine solo.

[notlist3d]

He doesn't need to buy the S7-LN only to buy the S9 later, he can start learning with the S9. I would advice you to join a mining pool at first, hang out with other miners, learn the tricks and know the best way to make profit. When you are ready, then you can mine solo.

Honestly you don't need to sign up for a pool much in advance.  At this point pool's for the most part are very simple to setup and use.   Some pool's do have loyal userbases they actually tend to talk here on this forum, not really much to do on pool page but monitor after miner is setup.   And miners at this point have GUI's that are great. S7/S9 both very simple GUI's to learn/use.

Before buying any miner he should do ROI math.   I don't think there is really trick's in mining that i can think of.  I know this is overly simple but keep cost low... and profits higher then cost's.   At some point you might sell a miner depending on your electricity price, but again no trick to this.

[CoinBreader]

just 2 questions  first whats you local $/kw look like and second whats your estimate capital you wanna throw in,
dont even bother mine with GPU lots of time/power/small profit and a shitload of configurations/bios updates for each algo (been there done that ) but back then there was no asics 

[leowonderful]

He doesn't need to buy the S7-LN only to buy the S9 later, he can start learning with the S9. I would advice you to join a mining pool at first, hang out with other miners, learn the tricks and know the best way to make profit. When you are ready, then you can mine solo.

LN'S are already almost as cheap as they can get. The resell price of the machines is relatively high, especially when bundled with a PSU. No reason not to buy one, the S9 is a bit harder to sell and currently overpriced(imo). Solo is definitely a bad choice with only a few miners, and you'll need a lot of troubleshooting and things like that. With the price of miners like an S5 around 130 on eBay(again, assuming you're reselling right now instead of the future), you could easily get 300 out of an LN. They're probably the most cost-effective miners for people with cheap electricity right now, but really, it all depends on how much you pay per kw. 

[dotcomwriter]

Looking forward to more information on the same.

[Tupsu]

Looking forward to more information on the same.

just 2 questions  first whats you local $/kw look like and second whats your estimate capital you wanna throw in,
dont even bother mine with GPU lots of time/power/small profit and a shitload of configurations/bios updates for each algo (been there done that ) but back then there was no asics 

[sishendaoye]

Hi, yes of course you can mine bitcoin in home, but it will be useless if you pay much in electricity and it's also very noisy. For mining, you need bitcoin miner such as antminer or graphics card (with graphics card you can mine also altcoins) and internet access.

Also try to use google.

One link which I found: https://cryptocointalk.com/topic/9505-how-to-solo-mine/

Before you start mining make sure to check the the calculator:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator

Suppose you got a very rate, then it may still not be profitable, since the difficulty is going up and your income is getting less.
My advice to you is to invest that money in bitcoin rather then mining gear.

[notlist3d]

Hi, yes of course you can mine bitcoin in home, but it will be useless if you pay much in electricity and it's also very noisy. For mining, you need bitcoin miner such as antminer or graphics card (with graphics card you can mine also altcoins) and internet access.

Also try to use google.

One link which I found: https://cryptocointalk.com/topic/9505-how-to-solo-mine/

Before you start mining make sure to check the the calculator:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator

Suppose you got a very rate, then it may still not be profitable, since the difficulty is going up and your income is getting less.
My advice to you is to invest that money in bitcoin rather then mining gear.

BIG mistakke using coinwarz when deciding if you should invest.  It does not take into account difficulty changes.  So great for this period but horrible over time, will make investment look much better then it really is as no difficulty change which is unrealistic.

I like bitwisdom personally it allows you to configure it on so many factors.  Making it much better for long term ROI, just make sure to change block reward as I don't think they have yet after halving.

[neking]

Hi All,

I really thank and appreciate your information. I agree I just so new for this environment and need to dive more. That why some people said bitcoin mining is cannot make profit.
if there anyone who make income with your own mining ?

neking

[Atomicat]

Hi All,

I really thank and appreciate your information. I agree I just so new for this environment and need to dive more. That why some people said bitcoin mining is cannot make profit.
if there anyone who make income with your own mining ?

neking

Yeah, There are some people on this forum who make most of their income from bitcoin mining but you will need a huge investment in the beginning to be able to live off your bitcoin mining income.

[notlist3d]

Hi All,

I really thank and appreciate your information. I agree I just so new for this environment and need to dive more. That why some people said bitcoin mining is cannot make profit.
if there anyone who make income with your own mining ?

neking

Yeah, There are some people on this forum who make most of their income from bitcoin mining but you will need a huge investment in the beginning to be able to live off your bitcoin mining income.

For me it's a hobby and a investment.  I have spent a decent amount to get my mining area up to par where I can run quite a bit of gear in it as far as hobby mining goes.   But luckily a lot of it is initial investment's.     I am in it for the long term though I try  to hold most of mining, selling for electricity as it does add up.

But to be able to "live off your bitcoin mining income".  There are so many factors we would need to know how much you have in cost's to live.  For most mining as main job is not going to happen.  It is a nice side income but it is rather long term on ROI, so it does take a while.  The ones that cannot make profit are due to electricity in most cases, some VAT/import taxes can also kill it.  But still many that can make profit just takes a while.