My first post.

[rmhuntley]

This is my first post(obviously) I got bored the other day and ran across something about bitcoin mining. I did a little bit or research and decided to try it out. My setup is pretty weak right now(roughly 109MH/s), but I hope to beef it up before look. I'm looking at a couple of video cards that should make a drastic difference. The whole thing is still pretty new to me, but what the heck, you never learn to swim if you don'ew get in the water.   One thing that confuses me. What do the various difficulty ratings mean?

[Cryptomaker]

Difficulty rating increase with hashrate. It stabilises the production of blocks and adjusts every 2-2000 blocks depending on the coin.

[naphto]

Welcome.

[Welsh]

Welcome to the forum! Mining is getting very risky. I wish you the best of luck.

[JoshuaM]

Weclome! 

[OverallGreatGuy]

Welcome to the forum! Mining is getting very risky. I wish you the best of luck.

Risky how?

[I am a number]

Zero sum game. only way to win is stay ahead of the curve

[Welsh]

Welcome to the forum! Mining is getting very risky. I wish you the best of luck.

Risky how?

The money which you need to folk out to purchase mining hardware is expensive. Because of new technology being introduced the difficulty has risen by a lot. It's just going to continue to get harder. You might buy hardware which will bring in around 1 BTC this week, but a month later it could bring in something like 0.2. You have to be very careful when going into mining. You have to take into count electricity bills, break even of hardware and must have the technical know how to maintain the equipment. Many have reported having their hash rate slow after time, that's normally because it was either not set up correctly or it is over heating. There are many things which need to be taken into consideration before proceeding.

[rxgonzale]

welcome

[OverallGreatGuy]

Welcome to the forum! Mining is getting very risky. I wish you the best of luck.

Risky how?

The money which you need to folk out to purchase mining hardware is expensive. Because of new technology being introduced the difficulty has risen by a lot. It's just going to continue to get harder. You might buy hardware which will bring in around 1 BTC this week, but a month later it could bring in something like 0.2. You have to be very careful when going into mining. You have to take into count electricity bills, break even of hardware and must have the technical know how to maintain the equipment. Many have reported having their hash rate slow after time, that's normally because it was either not set up correctly or it is over heating. There are many things which need to be taken into consideration before proceeding.

Ah OK, thanks for the detailed info.  Makes sense.  Any idea what bit coin must be priced at (like a minimum) in order for mining to be profitable?

[DannyHamiltonn]

Welcome to the forum!

[Badabing]

Welcome to the forum mate. 

[scrawler]

Welcome

[mprep]

Hey and welcome.

[Mr.Dreamanonym]

WELL COME !

[uk1]

Welcome to the forum

[bobko]

Welcome.

[Pastelarts]

Hi 

[A+S]

More people mining (Mh/s) -> more difficulty

[poiuytr4]

Hi, welcome