Complete newbie - Looking for best starting guides / answers to total n00b Q's!

[B1tM1ner1980]

Hi All,

I'm just looking into getting into a bit of this mining malarkey, but i'm very new to the concept so just trying to work out how it all works etc.

Are there any decent getting started guides/videos that anyone could link me to etc?

Also, what should I be looking at in terms of hardware, ans what speed should I expect to see bitcoins returned?  As some hardware listings etc say they can return .3 or more of a bitcoin per month, but that seems high to me, so suspecting that even if it is capable, then it is something else that is bottlenecking the returns?

Sorry for the complete newbie questions, but you were warned in the title before you opened this thread! 

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[unholycactus]

There are a few things that make mining a bit harder than you think.

1. Mining costs electricity, if your kWh rate is high, you might be losing money.
2. Initial cost of the miner (import, duties, shipping and the miner itself)
3. Increasing difficulty which means your miner will compete against a constantly increasing number of miners.
4. More efficient miners are developed every now and then, which makes yours obsolete (in relation to #3).

[philipma1957]

okay
power cost    power cost   power cost

if you are over 10cents you will lose money

if you are under 5 cents you should make money

if you are in between 5-10  it is a maybe

so what do you pay for power?

[joshvette001]

okay
power cost    power cost   power cost

if you are over 10cents you will lose money

if you are under 5 cents you should make money

if you are in between 5-10  it is a maybe

so what do you pay for power?

greetings from spain!

im interested in start mining to
on spain we have 2 type of rates, one is 0.12-0.13 cts of euro, 24h, and other is 0.07 cts of euro 12h (during night from 22.00 to 12:00 ), if I start with 3 pcs of s9 12.93th/s in your opinion which rate is better and if is worth do it, I was counting and the investment for 3 S9 and 3 PSU is 6325€ as final price.
thanks in advance!

[Shiroslullaby]

Also important to point out that to make .3 a month you would have an initial investment of a few thousand dollars, at least.
Which means you are looking at a ROI approaching a year.
(And this is probably WAY too optimistic.)
Mining is not some way to print free money. It takes time, startup investment, and work, like any other investment.

[dEJAVU95]

okay
power cost    power cost   power cost

if you are over 10cents you will lose money

if you are under 5 cents you should make money

if you are in between 5-10  it is a maybe

so what do you pay for power?

Of course, I agree what else in my country, the power cost is very high, and maybe about 22 cent per kwh. But, if the price more than USD 1000, I still get profit, and I hope next year can reach with that price

[streazight]

okay
power cost    power cost   power cost

if you are over 10cents you will lose money

if you are under 5 cents you should make money

if you are in between 5-10  it is a maybe

so what do you pay for power?

Of course, I agree what else in my country, the power cost is very high, and maybe about 22 cent per kwh. But, if the price more than USD 1000, I still get profit, and I hope next year can reach with that price

Not saying it won't, but it could take years for Bitcoin to get to that price. It could stagnate at 700 for a year, or it could go to 1000, but the risk factor is huge and you're essentially holding bitcoins, it's no different that buying BTC and hoping that price rises, which it probably will.

[ethereumhunter]

okay
power cost    power cost   power cost

if you are over 10cents you will lose money

if you are under 5 cents you should make money

if you are in between 5-10  it is a maybe

so what do you pay for power?

greetings from spain!

im interested in start mining to
on spain we have 2 type of rates, one is 0.12-0.13 cts of euro, 24h, and other is 0.07 cts of euro 12h (during night from 22.00 to 12:00 ), if I start with 3 pcs of s9 12.93th/s in your opinion which rate is better and if is worth do it, I was counting and the investment for 3 S9 and 3 PSU is 6325€ as final price.
thanks in advance!

why you don't calculation to buy vga cards? because with btc difficulty right now, its really hard to mining and it need take more time to get ROI.

with vga cards, you have many option for mining, you can mining ethereum, ethereum classic, monero, dash, ltc, or else. and if the electricity fee is really low, then you can get profit.