My Preferred Method for Getting BTC

[ddrussianinja]

Newbie here. Since I apparently have to post something substantial before getting access, I thought I'd share my current process for acquiring BTC. Since I'm just a hobbyist and wasn't really looking to dump money into an ASIC miner or something, mining BTC directly was taking way too long. LTC, on the other hand, is much easier to mine with basic computer hardware and is currently the second-highest priced alternate cryptocurrency.

So basically, I mine LTC, transfer it to BTC-E, use it to buy BTC, then transfer the BTC to a wallet or Coinbase or wherever.

If you're having issues getting any significant results from mining BTC, I'd recommend this method instead.

[Kenshin]

Have you look into FTC or DGC? There payout is more than LTC.

[nerFohanzo]

So basically, I mine LTC, transfer it to BTC-E, use it to buy BTC, then transfer the BTC to a wallet or Coinbase or wherever.

Yes, thankfully to alt coins, this is possible. But it is slow way to get BTC, use
http://dustcoin.com/mining

to check what coin is most profitable to mine

[affan]

Newbie here. Since I apparently have to post something substantial before getting access, I thought I'd share my current process for acquiring BTC. Since I'm just a hobbyist and wasn't really looking to dump money into an ASIC miner or something, mining BTC directly was taking way too long. LTC, on the other hand, is much easier to mine with basic computer hardware and is currently the second-highest priced alternate cryptocurrency.

So basically, I mine LTC, transfer it to BTC-E, use it to buy BTC, then transfer the BTC to a wallet or Coinbase or wherever.

If you're having issues getting any significant results from mining BTC, I'd recommend this method instead.

what basic computer hardware?

[ddrussianinja]

Have you look into FTC or DGC? There payout is more than LTC.

FTC may mine faster, but the minimum payout threshold is much higher and it trades at a lot less than LTC. I haven't really looked into DGC yet, though. Maybe I will.

So basically, I mine LTC, transfer it to BTC-E, use it to buy BTC, then transfer the BTC to a wallet or Coinbase or wherever.

Yes, thankfully to alt coins, this is possible. But it is slow way to get BTC, use
http://dustcoin.com/mining

to check what coin is most profitable to mine

That's pretty handy, thanks.

Newbie here. Since I apparently have to post something substantial before getting access, I thought I'd share my current process for acquiring BTC. Since I'm just a hobbyist and wasn't really looking to dump money into an ASIC miner or something, mining BTC directly was taking way too long. LTC, on the other hand, is much easier to mine with basic computer hardware and is currently the second-highest priced alternate cryptocurrency.

So basically, I mine LTC, transfer it to BTC-E, use it to buy BTC, then transfer the BTC to a wallet or Coinbase or wherever.

If you're having issues getting any significant results from mining BTC, I'd recommend this method instead.

what basic computer hardware?

An old-ish Windows PC with an NVIDIA GPU.

[Agsic]

Mine all altcoins, sell when they reach max of price.

[ddrussianinja]

Mine all altcoins, sell when they reach max of price.

I find altcoins to be far too unstable, even the more established ones like LTC. Hence why I'm converting to BTC rather than getting a bunch of altcoins, waiting for an uptick in value, and cashing out to fiat directly. I'm not looking to play the speculation game, I'm just trying to get BTC without needing to purchase them or mine them directly. Perhaps certain altcoins will increase in value over time, but until one of them increases in value independently of BTC, I'm not really interested in investing in any of them as anything other than as a means to get BTC.