questions about bitcoin, mining, and how to become a miner

[quinton0227]

so, let me first state that when it comes to bitcoin and anything related to it, I am a total noob in every possible sense of the word.  I've spent about 2-3 hours now looking at the bitcoin website, the forums here, and bitcoins wiki page.  I'm trying to understand the whole concept of mining, how it works, and how to do this.  I read schizoprenicX's beginners guide, which unfortunately has a broken link to bitcoin mining, and looked at a number of other posts about mining.  I think i understand the basic idea, but i'm rather concerned with how quickly almost everyone who has a beginners guide, or help post dives into complex discussions about hashes, pools, modifying GPU's, not trusting anyone, etc etc.  This all sounds either extremely suspicious, or like I just walked into a lecture on the mathematical foundation of quantum physics (of which i am equally clueless).  I was hoping that I could start a conversation with someone about mining, and perhaps get some guidance on how to do so.

  My biggest concerns are things like,
  when i read in a FAQ a question about does bitcoin support terrorism (i recognize that is a falsehood, but if there is enough concern amongst a community to justify putting it in multiple FAQ's it makes me wonder)
  how most of the beginners guides to bitcoin stress needing to keep extremely long complex passwords, sometimes 5 or 6 of them, just to be somewhat secure
  why it seems a number of programs for mining exist, yet require you to write your own code to use them
  the possibility that pool mining may require that you pay a subscription fee to join the pool
  Also the occasinoal post about someone setting up their computer for mining, and then it bursting into flames, or melting GPU's etc.  (I'm rather protective of my computer)

So, hopefully some kind soul will see this post and help me understand things so i dont feel like i just dove into the deep end with lead weights tied to my ankles.  Thanks anyone who takes the time to do so 

[Addz]

If you use skype PM me and I will lead you down this rabbit hole.... don't say we didn't warn you

[thisisnotmyltcusername]

it's far easier than what you think
Get a decent graphic card -AMD GPU- if you don't have one. (the best investment being Radeon 7950 models)
download / install cgminer or gui-miner
choose a pool to join. create a worker there (one click usually)
add worker/password to your mining client.
profit

[n00bwastaken]

I read schizoprenicX's beginners guide, which unfortunately has a broken link to bitcoin mining, and looked at a number of other posts about mining. 

I think the broken link is this http://www.newslobster.com/bitcoin/how-to-set-up-pooled-bitcoin-mining-in-windows I noticed it as well, but since I am still a newbie, I cannot update that post. The above is for pooled mining, but before that you need to check out how to setup for mining. The page linked to above has a link to the the mining setup page.

Hope this helps!

[quinton0227]

sorry Addz, i don't have skype.

but i did read the newslobster article, that was pretty helpful as far as setting up and running the miner, thanks for pointing it out n00bwastaken.  Still kinda overwhelmed by how technical a lot of the chatter on the boards is, but its actually starting to make some sense..... soon I shall be one with the collective 

[DannyHamilton]

- snip -
complex discussions about hashes, pools, modifying GPU's, not trusting anyone, etc etc.  This all sounds either extremely suspicious, or like I just walked into a lecture on the mathematical foundation of quantum physics (of which i am equally clueless).
- snip -

More like a lecture on the mathematical foundation of modern cryptography, but I get your point.

 

  My biggest concerns are things like,
  when i read in a FAQ a question about does bitcoin support terrorism (i recognize that is a falsehood, but if there is enough concern amongst a community to justify putting it in multiple FAQ's it makes me wonder)

Tt's put in FAQ's because many people outside of bitcoin (who don't understand how difficult it is to maintain true anonymity with bitcoin) have repeatedly expressed concern that the pseudonymous nature of bitcoin could make it easier for terrorists to avoid detection.
 

  how most of the beginners guides to bitcoin stress needing to keep extremely long complex passwords, sometimes 5 or 6 of them, just to be somewhat secure

With traditional banking, your accounts are typically insured against loss.  With bitcoin you are completely responsible for keeping your bitcoins secure.  If they are lost/stolen there is no way to get them back.  As such there is a lot of concern (perhaps even paranoia) surrounding the securing of bitcoins.  In the end, it helps to have a good understanding of what the various risks are.  Then you can make your own choice as to just how much effort is needed to secure them.

  why it seems a number of programs for mining exist, yet require you to write your own code to use them

Bitcoin is still very much in its infancy.  This is why it can still be relatively inexpensive to get involved in mining.  However, because of this it can at times require a certain amount of understanding and technical ability.  Over time, the tools for mining will become easier to use, but the costs associated to get started may increase.

  the possibility that pool mining may require that you pay a subscription fee to join the pool

I'm not aware of any legitimate pools that require you to pay them up front to join the pool.  All the legitimate pools that I'm aware of take their profits out of the bitcoins the pool earns before paying out your share.

  Also the occasinoal post about someone setting up their computer for mining, and then it bursting into flames, or melting GPU's etc.  (I'm rather protective of my computer)

If you don't set things up properly, I suppose there is some opportunity to overheat components.  Take some time to understand what issues others have encountered, and to make sure that you know how to mitigate any risks.

[quinton0227]

interesting post dannyhamilton, i wonder, why, if there is such a concern over security that something has not been put in place, or a company has not come forth to offer such insurance.  Though i guess since this is a rather radical departure from the current status quo of currency (controlled centrally via a government or other "trustworthy" organization) that most companies wont be willing to take such a significant risk until the currency stabilizes or dies.

[mcrimson]

I'm also brand new to mining! Actually just got all my equipment shipped in to build my rig. I literally have no experience with computers but have been trading with cryptos since January and wanna give mining a try, but not for bitcoins, for some of the alt coins. Unfortunately I cannot find a step by step set up anywhere so I'm just going to have to try to fake my way thru the whole process, and hopefully I can figure it out lol.  Does anybody know where a comprehensive noob guide would be located? Not one that assumes I know how to code and read source code etc?

[lopfushe]

yea i am a noob too, this miniing thing should be interesting, thats for sure

[Void425]

Addz I am really interested in learning and hearing your advice, I just installed skype and will PM you if the system will let me now.  It said I need at least 1 Forum post to PM people.