What is mining? How can I start mining from Zero BUdget?

[bkris]

  I was away from this bitcointalk but such a drastic increase made me back to this. What is mining basically? How can I start mining with less busget?

[mocacinno]

 

I was away from this bitcointalk but such a drastic increase made me back to this. What is mining basically? How can I start mining with less busget?

simple answer: you can't... You're in the bitcoin mining subforum, so the bitcoin mining long answer is: you need a very sharp electricity rate, and invest at least enough to buy a latest gen antminer S9 to have a chance at making a profit.
There are a couple of companies that are about to release an ASIC that's even more efficient than the S9 in the near future, but it probably won't be cheaper than the S9 (didn't check their pricing myself tough)...

So basically, you need a budget that's sufficient for:
- an S9
- a PSU
- shipping and handling
- import taxes
- networking
- wiring
- shelves
- cooling

Combine this with a <10c/Kwu power rate, and you have a good shot at making some money (if you play your cards right, and you are lucky)

To answer your question about what mining is exactly: this forum has a really nice search function... If you use it correctly, you end up at this page that will give you 100's of threads answering your question

IF you have a desktop PC with a good GPU, or even a decent CPU and a low electricity rate, you can try to mine some altcoins and exchange them for BTC... If you wat more info about this, i suggest you close this thread and open a thread in the altcoin mining subforum. Don't expect miracles tough, bitcoin mining is no longer something that can be done with a spare PC out of your basement... Same goes for the more stable altcoins...

[mayo2u]

I was away from this bitcointalk but such a drastic increase made me back to this. What is mining basically? How can I start mining with less busget?

The short answer is you can't. The best way to start, if you have no money, to buy BTC from an exchange. It will take a few days to set up and for the bank and the exchange to confirm that you have joined the correct accounts. After that you can purchase a small amount of Bitcoin every week.

Learn how to create a wallet and transfer funds to that wallet. And keep reading. 

Probably the cheapest way to start will be to start GPU mining (you won't make much off of one GPU but you will learn.)

Good luck.

[component9]

I was away from this bitcointalk but such a drastic increase made me back to this. What is mining basically? How can I start mining with less busget?

You have to have money to start with Bitcoin and mining is expensive. You need a miner, power supply, networking, cables, cooling and cheap electricity. You're better off buying Bitcoin and holding on to it.

[mocacinno]

I was away from this bitcointalk but such a drastic increase made me back to this. What is mining basically? How can I start mining with less busget?

The short answer is you can't. The best way to start, if you have no money, to buy BTC from an exchange. It will take a few days to set up and for the bank and the exchange to confirm that you have joined the correct accounts. After that you can purchase a small amount of Bitcoin every week.

Learn how to create a wallet and transfer funds to that wallet. And keep reading. 

Probably the cheapest way to start will be to start GPU mining (you won't make much off of one GPU but you will learn.)

Good luck.

mining bitcoin with a GPU has been death for years:
https://www.mocacinno.com/nonspecialisedmininghardware.php

even if you only pay 5c/Kwu for your power, and you have a very good GPU you'll make about 50 dolarcents a year, while burning more than 120 dollar in power...

Some altcoins can be mined with your GPU, but like i said in my first post: you should open a thread in the altcoin mining subforum to get more information about this

[mayo2u]

mining bitcoin with a GPU has been death for years:

Hmm. Wasn't suggesting that one mine BTC with a GPU but mine an ASIC resistant coin such as BTC Gold, Monero, Eth.

You then have some crypto that you can exchange for BTC.

[B!t_Kong]

 ASIC resistant coin BTC Gold, Monero, Eth.

You then have some crypto that you can exchange for BTC.

[/quote]

Any gadget you can recommend?

[mayo2u]

 ASIC resistant coin BTC Gold, Monero, Eth.

You then have some crypto that you can exchange for BTC.

Any gadget you can recommend?

By gadget I suppose you mean GPUs? Well that's the eternal question.

I have Gigabyte GeForce GTX 470s with Samsung memory that do better with Monero than other Gigabyte GTX 470 with Hynix memory. But those with Hynix memory do better with BTCG than do the Samsung cards.  By better I'm talking about 5-10% difference here.

It's ever changing and I don't sweat the small stuff. I simply don't have the time to keep tweaking to get the absolutely best hashrate for the fewest watts for each and every coin and for each and every variation of acard.

To answer your question for a new purchase I think the NVidia GTX1070 would be a better buy.

[YinShuiSiYuan]

I was away from this bitcointalk but such a drastic increase made me back to this. What is mining basically? How can I start mining with less busget?

You can start if you have enough gpu and your electricity bills are not to high cause eveything is based on that aspect.