Some questions for mining experts!!

[mahimonliner]

1) how much does it cost to start?
2)how much profit I'll be able to take out from mining?
3)The best way to start mining?

 

[Vivisector999]

That is extremely vague

1) Could cost you nothing, just the computer you have on your desk, to a multimillion dollar operation.
2) Depends on the coin you are mining.  You might be mining for a dead loss, or if lucky you will make a profit.  You don't go into Mining to make huge profits.  For that you invest and trade
3) Easiest would be to purchase an ASIC, as they are quite easy to set up.  If not, best would be to tell us what coin you want to mine, and what your setup currently is and we can point you in the way.  


Personally I think if you need to ask about mining, it probably isn't a good place to get into, unless you are very tech savvy, or like I said go with ASICs.  You also need cheap electricity in order to make a profit, as the profits and cost of electricity fight each other hand in hand. 

[leonix007]

1) how much does it cost to start?
2)how much profit I'll be able to take out from mining?
3)The best way to start mining?

 

1) how much does it cost to start?

For the sake of experimental or a hobby, If you have an existing Personal computer or an idled pc units, you can start mining without any cost except for your power electricity, but it doesn't mean you can do profit from it, it could be a waste of time depending on your hardware.

2)how much profit I'll be able to take out from mining?

that's will always depend on many factors like, Hardware, Coins you are mining, Power rates

3)The best way to start mining?

Just do my answer for your number 1 question.

:-)

[toptek]

some one just made this post it might help you some ...

https://bitcointalk.org/index.php?topic=2208927.0


More good sound advice ..

https://bitcointalk.org/index.php?topic=2210343.0

[Vivisector999]

Lol, yeah that pretty much summed it up.

Only thing he mentioned about mining is that it is cyclical.  Once you have paid the electricity bill, and made it to where you finally made ROI (If you do), your equipment will be so out of date that it will barely cover the cost of electricity, so you will need to buy new equipment in hopes that next time you will make ROI and still make a coin or 2 profit....  Next time.

[mahimonliner]

Thank you guys for your valuable advice!

[IT_AEX]

Also if you have doubts of how much money you will earn, Nicehash profitability calculator is an excelent tool to review:
https://new.nicehash.com/profitability-calculator/

[siforek]

1) how much does it cost to start?

At least the price of 1 GPU or a few hundred more than the cost of a handful of GPUs to build a small rig.

2)how much profit I'll be able to take out from mining?

Here's a calculator: https://www.cryptocompare.com/mining/calculator enter GPU hashrate, wattage & power cost = profit.

3)The best way to start mining?

I'd suggest if you already have a PC get a decent GPU for it(unless you already have 1) & just try mining with 1 card to get your foot in the door. From there maybe slowly add GPUs OR if you're in a position to invest look at building a rig(lots of research) OR many people will tell you you're better off just buying the coin itself rather than spending $ on mining hardware. There's so many factors, power cost, cooling, difficulty.

Most people aren't able/willing to do the research & learn all the ins/outs that can make this really profitable. If you just want to mess around with mining just get 1 card like I said, otherwise if you are really serious(most aren't) you should do about 20-30 hours of research before you drop a few thousand on a rig. Then plan to have at least a part time job trying to keep up.