(Help) Bitcoin mining for newbies Thread

[drwhobox]

Hello Guys/Gals, I would like to ask some experienced miners here in the forum. with what value of money should I start with mining? and how does mining works ? How to earn Bitcoins/Satoshis with small Hash rate from the system Thanks in advance for thoes who is going to answer this.

(I'm a BIG Newbie when it becomes to mining)

Cheers Fam!

[mondobitcoin]

Hi, if you want to start mining with your own pc or laptop: dont lose your time
For start mining you need correct hardware, maybe you can buy a asicminer or antminer (you find it on google), or assemble a pc with correct hardware for mining, and i think for get a real profit you need to invest min. 1000$

[SolarSilver]

i think for get a real profit you need to invest min. 1000$

Even with free power you will not make a profit if you buy your asic miner at retail prices

You are way better of to just buy and hold btc in a wallet

[mondobitcoin]

i think for get a real profit you need to invest min. 1000$

Even with free power you will not make a profit if you buy your asic miner at retail prices

You are way better of to just buy and hold btc in a wallet

Maybe, personally i dont have buyed any asic/antminer , i have only tried to mining some alternative cripto with my cpu
But buy btc and mining btc are different way, and the user asked for mining

[drwhobox]

i think for get a real profit you need to invest min. 1000$

Even with free power you will not make a profit if you buy your asic miner at retail prices

You are way better of to just buy and hold btc in a wallet

Maybe, personally i dont have buyed any asic/antminer , i have only tried to mining some alternative cripto with my cpu
But buy btc and mining btc are different way, and the user asked for mining

What specific Coin do you mine ? I interested on mining that. does it need alot of hashrate for me to mine that? Thanks alot in advance for your answer i do appreciate it.

[mondobitcoin]

i think for get a real profit you need to invest min. 1000$

Even with free power you will not make a profit if you buy your asic miner at retail prices

You are way better of to just buy and hold btc in a wallet

Maybe, personally i dont have buyed any asic/antminer , i have only tried to mining some alternative cripto with my cpu
But buy btc and mining btc are different way, and the user asked for mining

What specific Coin do you mine ? I interested on mining that. does it need alot of hashrate for me to mine that? Thanks alot in advance for your answer i do appreciate it.

I have tried to mine bytecoin and for mining it you dont need a lot of hashrate, if you want to try you can try to mine it with minergate at your own pc / laptop
Now the price of bytecoin its low, but maybe in the future can grow up

[CarlOrff]

Hello Guys/Gals, I would like to ask some experienced miners here in the forum. with what value of money should I start with mining? and how does mining works ? How to earn Bitcoins/Satoshis with small Hash rate from the system Thanks in advance for thoes who is going to answer this.

(I'm a BIG Newbie when it becomes to mining)

Cheers Fam!

The biggest problem for Bitcoin mining is not the start investment, but the cost of your electricity.
You are fighting with all the world and in some places electricity costs are very low.
If you can have a so very low cost electricity provider, then you can start with only one ASIC miner, even an used one ($1000, for example).

[SolarSilver]

The biggest problem for Bitcoin mining is not the start investment, but the cost of your electricity.
You are fighting with all the world and in some places electricity costs are very low.
If you can have a so very low cost electricity provider, then you can start with only one ASIC miner, even an used one ($1000, for example).

I think that is no longer true, even if you have free electricity, then you are paying retail prices for your mining equipment (and for many individuals also shipping and VAT) while big farms are buying equipment in bulk (by the container) and as business they can deduct a lot of costs. They get the more efficient hardware far cheaper and earlier than 'small' users, so you can't compete with them.

You used to in past... but not anymore