New to Mining

[GHamilton]

Hi all,

I'm new to mining and have spent the last week or so experimenting and researching methods and altcoins for mining. I stumbled across this forum and decided to register an account as I couldn't find answers to the questions that I have.

I was planning on creating some sort of group with some of my friends to get into bitcoin mining. Just a small amount of money.. Maybe enough for a 20 GH/s system, I'm not sure. What I was wondering was what sort of system I should buy that is fairly entry level and how much that system will produce in say a day or a week. I was also wondering if I should perhaps invest in something like CEX as my family and I are fairly knowledgeable about stocks and the like. Interms of power consumption, that does not really matter to me and I'm not looking to make thousands or millions or whatever, just to break even or make a small profit.. Whatever is possible.

Thanks for all your help,
Greg.

[Zeek_W]

Hi all,

I'm new to mining and have spent the last week or so experimenting and researching methods and altcoins for mining. I stumbled across this forum and decided to register an account as I couldn't find answers to the questions that I have.

I was planning on creating some sort of group with some of my friends to get into bitcoin mining. Just a small amount of money.. Maybe enough for a 20 GH/s system, I'm not sure. What I was wondering was what sort of system I should buy that is fairly entry level and how much that system will produce in say a day or a week. I was also wondering if I should perhaps invest in something like CEX as my family and I are fairly knowledgeable about stocks and the like. Interms of power consumption, that does not really matter to me and I'm not looking to make thousands or millions or whatever, just to break even or make a small profit.. Whatever is possible.

Thanks for all your help,
Greg.

Go with CEX. you can trade the Gh/s on the market - so with your family history of stocks - you should have a blast! Check my sig for more.

[cesmak]

I agree with Zeek_W. Welcome ! 

I've started with cex a few weeks ago and i'm satisfied..

[GHamilton]

Thanks for your replies, I'll definitely give CEX a look. If possible, could you tell me approximately how many Bitcoins I would produce using a 20GH/s setup per week?
Cheers.

[cesmak]

I have 34.6 Gh/s at the moment and i receive more or less 0.03 btc/day so make your proportion....

Remeber that this is not constant and at the next diffculty change (approx. in one / two days) it will be lower.

[Coelacanth]

Well mining with small hash rates may not worth it. Getting miners quickly and cheap electricity are main problems.

What I did in last week is buying small amounts of coins and invest some cash in hosted mining.