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Author Topic: What is the best way to mine bitcoin?  (Read 8622 times)
ss_33
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May 13, 2013, 10:31:59 PM
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There are many ways to mine bitcoin these days, however, lots of them are spam (or not worth of your time). For example, bitcoinplus charges a big transaction fee just to withdraw the earnings. There are some websites where you can claim daily winning but it is very small amount. How do you guys mine your bitcoins? Is there really no way to mine bitcoin without purchasing hardware dedicated for mining?

Please share what you think. If you had some bad experience, please post it as well so other people can avoid it. Thank you for your contribution!
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Marduk
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May 13, 2013, 10:59:29 PM
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There are many ways to mine bitcoin these days, however, lots of them are spam (or not worth of your time). For example, bitcoinplus charges a big transaction fee just to withdraw the earnings. There are some websites where you can claim daily winning but it is very small amount. How do you guys mine your bitcoins? Is there really no way to mine bitcoin without purchasing hardware dedicated for mining?

Please share what you think. If you had some bad experience, please post it as well so other people can avoid it. Thank you for your contribution!

"Mining" bitcoins involving crunching numbers with GPUs (video cards) and that is now slowly evolving into dedicated ASIC machines to do the same task, but more efficiently and with much more number crunching power.  This is how new coins are "minted" and come into circulation.

Any other method of acquiring bitcoins is just free trade (or scams), not mining.

Contradictions do not exist. Whenever you think that you are facing a contradiction, check your premises. You will find that one of them is wrong.
Theraty
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May 13, 2013, 11:09:09 PM
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There are many ways to mine bitcoin these days, however, lots of them are spam (or not worth of your time). For example, bitcoinplus charges a big transaction fee just to withdraw the earnings. There are some websites where you can claim daily winning but it is very small amount. How do you guys mine your bitcoins? Is there really no way to mine bitcoin without purchasing hardware dedicated for mining?

Please share what you think. If you had some bad experience, please post it as well so other people can avoid it. Thank you for your contribution!

You can invest in shares with different mining companys on this site and others which can help increase the bitcoins you have manyfold by mining for you but my advice is to do your research and make sure its a sound investment.

Checkout these sites which have mining companys on them providing this service;
https://bitfunder.com/
https://btct.co/
http://www.pyramining.com/referral/nts8pbdka

This could be a better alternative to mining but do your research and find out whats you belief is best for you.
mapaedae
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May 13, 2013, 11:17:00 PM
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What about sites like bitvisitor, freedigitalmoney and freebitcoins.appspot are those fake? or do you aqually recive Bitcoins?
ss_33
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May 13, 2013, 11:19:23 PM
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What about sites like bitvisitor, freedigitalmoney and freebitcoins.appspot are those fake? or do you aqually recive Bitcoins?

personally i havent tried those websites but I have been trying these:
https://bitcointalk.org/index.php?topic=90718.0
ss_33
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May 13, 2013, 11:22:29 PM
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There are many ways to mine bitcoin these days, however, lots of them are spam (or not worth of your time). For example, bitcoinplus charges a big transaction fee just to withdraw the earnings. There are some websites where you can claim daily winning but it is very small amount. How do you guys mine your bitcoins? Is there really no way to mine bitcoin without purchasing hardware dedicated for mining?

Please share what you think. If you had some bad experience, please post it as well so other people can avoid it. Thank you for your contribution!

"Mining" bitcoins involving crunching numbers with GPUs (video cards) and that is now slowly evolving into dedicated ASIC machines to do the same task, but more efficiently and with much more number crunching power.  This is how new coins are "minted" and come into circulation.

Any other method of acquiring bitcoins is just free trade (or scams), not mining.

Thanks! I am debating whether I want to invest in buying these hardware or not. I know that you can only "mine" bitcoins in a bulk of 50. Therefore, it is better to join a pool. But even to join a pool, it seems like I need a better laptop/computer system to do so. I just want to try it for now (without putting to much money into it). I would be more willing to invest my money into mining once I have more experience with the logic behind bitcoin system.
raze
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May 13, 2013, 11:54:36 PM
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What about sites like bitvisitor, freedigitalmoney and freebitcoins.appspot are those fake? or do you aqually recive Bitcoins?

Personally, I made my first few fractions of a BTC through BitVisitor, Cointube.tv, and a few other sites. They have pretty decent initial payments, then slowly decline.

BTC --16FPbgyUZdTm1voAfi26VZ3RH7apTFGaPm
LTC -- Lhd3gmj84BWqx7kQgqUA7gyoogsLeJbCXb
PPC -- PRpKGjgjNLFv8eR7VVv7jBaP8aexDFqk4C
Theraty
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May 14, 2013, 12:01:33 AM
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There are many ways to mine bitcoin these days, however, lots of them are spam (or not worth of your time). For example, bitcoinplus charges a big transaction fee just to withdraw the earnings. There are some websites where you can claim daily winning but it is very small amount. How do you guys mine your bitcoins? Is there really no way to mine bitcoin without purchasing hardware dedicated for mining?

Please share what you think. If you had some bad experience, please post it as well so other people can avoid it. Thank you for your contribution!

"Mining" bitcoins involving crunching numbers with GPUs (video cards) and that is now slowly evolving into dedicated ASIC machines to do the same task, but more efficiently and with much more number crunching power.  This is how new coins are "minted" and come into circulation.

Any other method of acquiring bitcoins is just free trade (or scams), not mining.

Thanks! I am debating whether I want to invest in buying these hardware or not. I know that you can only "mine" bitcoins in a bulk of 50. Therefore, it is better to join a pool. But even to join a pool, it seems like I need a better laptop/computer system to do so. I just want to try it for now (without putting to much money into it). I would be more willing to invest my money into mining once I have more experience with the logic behind bitcoin system.

You should also checkout bitcoin mining companys to buy shares because it could work out better in terms of ROI when thinking of going the mining direction.
Research both directions may work in your favor in the long run.
tuxfool
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May 14, 2013, 12:03:35 AM
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Personally, I made my first few fractions of a BTC through BitVisitor, Cointube.tv, and a few other sites. They have pretty decent initial payments, then slowly decline.

They pay around  X uBTC roughly every 5 minutes. So if you have time to spare...

1EKvcswVZewv4ircUxm7rdCiTgKbXmLcQH
cmason
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May 14, 2013, 12:06:27 AM
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I've had a pretty good experience with mining.bitcoin.cz (Slush's pool).  It's been reliable with prompt payouts.  I'm using cgminer on OS X and have had no problems.
NoirSuccubus
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🌟 COMSA ICO: 10/02/17 🌟


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May 14, 2013, 01:32:48 AM
 #11

Just get GUIMiner and leave it on overnight.

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data_teks
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May 14, 2013, 01:39:42 AM
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Buy bitcoins on mtgox and resell on ebay for 33% markup

Illimensky
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May 14, 2013, 02:04:50 AM
 #13

What about sites like bitvisitor, freedigitalmoney and freebitcoins.appspot are those fake? or do you aqually recive Bitcoins?

I have tried all of those at one time or another, and they do work.  However, as people have said, the payments tend to taper off.  Thankfully, there are many bots that work for sites of that kind, so you don't have to waste any of your time on them.

One thing you should not use to "mine" Bitcoin is bitcoinplus.com.  It was flagged as a site that downloads malware in the past by Google SafeSearch, and see this post: https://bitcointalk.org/index.php?topic=38283.0 for why it's a massive waste of your time and CPU power.

Having said that, are CPU or GPU miners more efficient in general?
raze
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May 14, 2013, 02:06:53 AM
 #14

What about sites like bitvisitor, freedigitalmoney and freebitcoins.appspot are those fake? or do you aqually recive Bitcoins?

I have tried all of those at one time or another, and they do work.  However, as people have said, the payments tend to taper off.  Thankfully, there are many bots that work for sites of that kind, so you don't have to waste any of your time on them.

One thing you should not use to "mine" Bitcoin is bitcoinplus.com.  It was flagged as a site that downloads malware in the past by Google SafeSearch, and see this post: https://bitcointalk.org/index.php?topic=38283.0 for why it's a massive waste of your time and CPU power.

Having said that, are CPU or GPU miners more efficient in general?

In general, it goes ASIC -> FPGA -> GPU -> CPU

BTC --16FPbgyUZdTm1voAfi26VZ3RH7apTFGaPm
LTC -- Lhd3gmj84BWqx7kQgqUA7gyoogsLeJbCXb
PPC -- PRpKGjgjNLFv8eR7VVv7jBaP8aexDFqk4C
bitcointrader55
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May 14, 2013, 02:07:09 AM
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ASIC
Illimensky
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May 14, 2013, 02:07:20 AM
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Thanks!



Buy bitcoins on mtgox and resell on ebay for 33% markup

Does that actually work?
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