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Author Topic: I'm a beginner interested in mining  (Read 747 times)
Snyder191 (OP)
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December 26, 2016, 02:00:47 AM
 #1

I'm interested in crypto currency mining I know that it's hard to mine bitcoin unless you have a good setup. What about litecoin or dogecoin would it be easier to start mining these for a beginner.
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December 26, 2016, 02:38:38 AM
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I believe ASICs exist for scrypt (used in Litecoin and Dogecoin), so a CPU probably won't pay for the energy, you need a GPU at least.
I would suggest not diving into mining as a beginner, as it is very easy to lose more than you make.
If you really want to mine something, camp on the announcements section of this forum and wait for someone to launch a CPU coin, if you are quick you may be able to snap up a few blocks before the difficulty skyrockets.
But really, mining is a serious investment not to be blindly rushed into.

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pealr12
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December 26, 2016, 02:48:05 AM
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I'm interested in crypto currency mining I know that it's hard to mine bitcoin unless you have a good setup. What about litecoin or dogecoin would it be easier to start mining these for a beginner.
If you have read some threads just like yours a lot of replies will say that mining is not recommended cause its not profitable you will only waste your money and time.
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December 26, 2016, 02:57:58 AM
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I'm interested in crypto currency mining I know that it's hard to mine bitcoin unless you have a good setup. What about litecoin or dogecoin would it be easier to start mining these for a beginner.
If you have read some threads just like yours a lot of replies will say that mining is not recommended cause its not profitable you will only waste your money and time.

I would second this assessment. Unless you already have a mining setup, you are not likely to come out ahead nowadays as the difficulty to mine blocks is quite high combined with electricity costs of running miners. You are probably better off purchasing some bitcoin (with the money you would use to purchase mining equipment) and holding if you expect the value to go up.
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December 26, 2016, 04:10:48 AM
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I'm interested in crypto currency mining I know that it's hard to mine bitcoin unless you have a good setup. What about litecoin or dogecoin would it be easier to start mining these for a beginner.
If you have read some threads just like yours a lot of replies will say that mining is not recommended cause its not profitable you will only waste your money and time.

Maybe add an exemption, mine altcoins that have low difficulty and have a good future according to you. There are some coins that have good potential but very few miners until it booms on the market like eth in the past.

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December 26, 2016, 04:30:38 AM
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I'm interested in crypto currency mining I know that it's hard to mine bitcoin unless you have a good setup. What about litecoin or dogecoin would it be easier to start mining these for a beginner.

if you want to mine with your computer and don't have ASIC then think about mining other altcoins not these big ones that have already a high difficulty.
you have to always consider the profit you gain with the electricity and other costs mining has for you, and electric bill alone makes it non profitable.

check out this site for some good info: www.coinwarz.com

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December 26, 2016, 05:34:29 AM
 #7

I'm interested in crypto currency mining I know that it's hard to mine bitcoin unless you have a good setup. What about litecoin or dogecoin would it be easier to start mining these for a beginner.

Mining is profitable only when you have good setup and also you need to wait fro many month with low income. But many people will not suggest you to go for mining because it is very hard to make coins.

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December 26, 2016, 06:43:15 PM
 #8

I'm interested in crypto currency mining I know that it's hard to mine bitcoin unless you have a good setup. What about litecoin or dogecoin would it be easier to start mining these for a beginner.

If you are a beginner I assume you want to try and get started with what you already own. If you have a fairly recent PC and a dedicated GPU (recent model AMD or Nvidia) you can begin mining some coins such as ZEC, ETH, and their variants, or even Monero (XMR) immediately. Just search the forum for the appropriate mining program.

Claymore has windows based miners for the three coins I listed and would be a good place to start with minimal fuss. You will also need a wallet to mine your coins to, but you can just use an exchange wallet to get your feet wet. Once you learn more about how mining works you can get your own dedicated wallet, which I would recommend for larger amounts. Poloniex.com is a popular exchange with many coins that you can use to generate a deposit address (or wallet) you can use to begin mining with. You can also easily convert any mined coins to BTC if you prefer using an exchange.

Bitcoin and Scrypt based coins such as Dogecoin or Litecoin have moved on to what is known as ASIC (Application Specific Integrated Circuit) based devices and are no longer profitable to mine with just a PC and a graphic cards.
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December 26, 2016, 06:48:51 PM
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I'm interested in crypto currency mining

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December 26, 2016, 06:48:58 PM
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I do believe, you are a little late - nothing 2 invest into right now.

... please make an educated guess !
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December 26, 2016, 10:07:38 PM
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I do believe, you are a little late - nothing 2 invest into right now.

That is not right
You can still invest and earn
the question is will it be enough?
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December 27, 2016, 06:59:36 PM
 #12

I'm interested in crypto currency mining I know that it's hard to mine bitcoin unless you have a good setup. What about litecoin or dogecoin would it be easier to start mining these for a beginner.

Most profitable these days is mining dogecoin on you cpu, best profit ever...

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December 27, 2016, 07:36:24 PM
 #13

I'm interested in crypto currency mining I know that it's hard to mine bitcoin unless you have a good setup. What about litecoin or dogecoin would it be easier to start mining these for a beginner.

Most profitable these days is mining dogecoin on you cpu, best profit ever...

Could you please specify what software to use to mining dogecoin? And what OS -win 7, 8 or 10 -linux ?

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