Please Help me to start with bitcoin

[DeathCenter]

Hello folks.

Im new to this business. Im 17 so yeah. I want to start with low figures and earn some bitcoins to invest in Steam (yes, the gaming platform)

I have a few questions (I know that they may be answered somewhere in this forum and I already used the search tool but there are so many topics.....).

First of all I want to know whats the best online wallet and why?
Then Whats the best minning software for Windows 10 and why?
Whats the best online minning company? (and why   )
 

I believe that some of you may be "oh kid, go sleep" or "is this guy retarded?" But sorry.. thats why I posted in Beginners subforum.

I have  4 more questions.

1: Whats the difference between Online wallets and Wallet software (I dont know how to explain this,but I know that there are some softwares that you download that weighht like 110GB and act as your wallet)

2: What is Bitcoin Core?

3: Now Im rocking "NiceHash Miner 2.0.1.1 Beta"  as miner and "blockchain.info" as wallet. Is this good set-up?

4: I know this may sound very very very stupid but do this actually work? It seems too good to be true to earn 2 USD a day by just IDLEing  my PC  (http://prntscr.com/gi1y63) (and yes, I am aware of the electricity bill).


PS: I mine in my spare time (when Im not using the computer). I use a GTX1080 and a i7  4790K (the cpu is stock but I sometimes run it overclocked)Does overclock it worth? And does this set-up is somehow good for this?


Best Regards,

DeathCenter

[1715041830]

1715041830

[HabBear]

Welcome to Bitcoin!

1: Whats the difference between Online wallets and Wallet software (I dont know how to explain this,but I know that there are some softwares that you download that weighht like 110GB and act as your wallet)

Online wallets are exactly as described, the wallet is housed via a website that is adminstered by a company. Typically they don't give you your private keys so often people don't use them for their large savings but only for transactions...they're convenient because you could use an app on your phone to transact. Think of them as a bank you put your fiat money into. When you deposit your money at a bank you don't own your money you own an "i owe you" for that money...same applies to online wallets. There's one online wallet that pays interest (4%)...PM me if you want more details

Wallet software is a wallet that's housed on your laptop via the software you've downloaded. You are your own bank in this case, you own your private keys...but be careful, as I'm sure you know, laptops and software can be hacked.

Here's a good link with more information about wallets.

2: What is Bitcoin Core?

Bitcoin Core is the (as in original) bitcoin node to confirm transactions and mine. Check out www.bitcoin.org. Did you miss the link to Bitcoin Core at the top of every page on this forum? Above home you'll see "News"...and a link to Bitcoin core.

3: Now Im rocking "NiceHash Miner 2.0.1.1 Beta"  as miner and "blockchain.info" as wallet. Is this good set-up?

You should ask this question in the Mining board on this forum.

4: I know this may sound very very very stupid but do this actually work? It seems too good to be true to earn 2 USD a day by just IDLEing  my PC  (http://prntscr.com/gi1y63) (and yes, I am aware of the electricity bill).

Yes. But what are you spending in electricity to idle your computer all day and night?

[Wusolini]

Hey buddy, welcome  to crypto.

I have no favorite online wallet (see answer to Q. 1).

nicehash is good mining software (user friendly, easy to use as you don't need to care converting mined coins to BTC ). Definitely recommended for newbies.

The only online mining companies I trust are: hashnest, bixin and BW. ( all others are just scam or very close to scam .. try to avoid them)
Why those three? Because they are big players in this industry, running for long time.
NOTE: You will not earn much just from the mining. You need to constantly buy/sell hashes to make some profit (this is case of hashnest, bixin ... BW offers only contracts)

1: Whats the difference between Online wallets and Wallet software (I dont know how to explain this,but I know that there are some softwares that you download that weighht like 110GB and act as your wallet)

Most online wallets will not provide you with privatekeys (which is the key to bitcoins held by address) .. this means you have just their IOU promise.

2: What is Bitcoin Core?

Basic (original) software (GUI) used to communicate with bitcoin network.

3: Now Im rocking "NiceHash Miner 2.0.1.1 Beta"  as miner and "blockchain.info" as wallet. Is this good set-up?

Yea, nothing against.

4: I know this may sound very very very stupid but do this actually work? It seems too good to be true to earn 2 USD a day by just IDLEing  my PC  (http://prntscr.com/gi1y63) (and yes, I am aware of the electricity bill).

It's not idleing. Your GPU actually works pretty hard and wears off.

[HCP]

4: I know this may sound very very very stupid but do this actually work? It seems too good to be true to earn 2 USD a day by just IDLEing  my PC  (http://prntscr.com/gi1y63) (and yes, I am aware of the electricity bill).

It isn't "IDLEing"... it will be running your 1070 at close to 100% utilisation the entire time it is mining... get a copy of MSI Afterburner and check the GPU usage and temps. Mining will reduce the life expectancy of your GPU.

$2/day... for a $430 dollar graphics card (cheapest price on newegg)... you'll only need to mine for ~215 days to make enough money to be able to buy a replacement card

[pooya87]

2: What is Bitcoin Core?

Bitcoin Core is the (as in original) bitcoin node

2: What is Bitcoin Core?

Basic (original) software (GUI) used to communicate with bitcoin network.

the original client that was created by Satoshi Nakamoto was actually called Bitcoin QT and what you see today as bitcoin core is a changed/evolved version of that. and it is just a client which can act as a wallet and a full node.

[DeathCenter]

Thanks everybody for the answers! They where very helpful for sure!

I only have one question remaining now:
What is that privatekeys  ? I mean in my wallet I have an wallet ID (wich I use to log in in the website) and a  Bitcoin receive adress(wich I give other useres to send me bitcoins). Could someone explain this? I googled it and the only thing I could find was this "directory.io" Wich I have no clue about what it is.....

Also. "IDLEing" was a way to say   I consider myself a "hardware savy" (or geek if you prefer hehe) and I am aware of how it wastes down my GPU and CPU but I the past I participated in overclock competitions so my hardware is already 100% ****** up  

PS: HCP, actually It costed me 1000€ since I pre-ordered it and bought an waterblock at its release  

Thank you all !

Best Regards,

[pooya87]

What is that privatekeys  ?

https://en.bitcoin.it/wiki/Private_key

I mean in my wallet I have an wallet ID (wich I use to log in in the website) and a  Bitcoin receive adress(wich I give other useres to send me bitcoins). Could someone explain this?

if you are using a "website" like blockchain.info or coinbase,... you are loging in your account and the "wallet ID" is probably your username. and it probably has nothing to do with private keys.
however you shouldn't confuse it with the recovery phrase (which blockchain.info calls it) which is your seed or master (private) key to recover ALL your private keys that your wallet generates.

I googled it and the only thing I could find was this "directory.io" Wich I have no clue about what it is.....

private key is just a number! it starts from 1 and goes up to 115792089237316195423570985008687907852837564279074904382605163141518161494336
that website generates private keys on demand. when you open page 1 (home page) it is showing you private keys from 1 to 128, page 2 is 129 to ... and so on

[jofox]

Thank you to all good answers because I have learned a lot here in your conversation. Because I also want to have Wallet on Bitcoin, so I'll follow this instrucution that you've provided. thanks

[Cortes_Cripto]

thank you, all very clearly explained. learned a lot of new.

[kumar jabodah]

I'm just a novice here please buy me. How can I join it and how can I earn it? My friend told me to post it. I do not see any bitcoins that were paid to me

[jorge2017]

As individual being part of the new generation, wanting to know about bitcoin. That is why i'm joining to this game thru the new technology network in order know the trend or the reality what bitcoin works to us individually on how to get incomes thru online pocket. lastly i want to help myself to be exposed or to mingle anybody who are members to society of this network