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Author Topic: Newcomer felt too late  (Read 801 times)
cubchai (OP)
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December 30, 2013, 09:57:11 AM
 #1

Hi everybody,

I read about btc 1-2 years ago but never really paid any attention until few months back where the news published a man threw away his hard disk containing his btc wallet.

After reading a few posts in this newbie board, all my excitement is going away slowly.

Is there any recommendation on how to start mining? For example the minimum hash hardware to get? Or start off from something like cex.io?

Thank you
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shorena
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December 30, 2013, 09:59:45 AM
 #2

Welcome,

mining Bitcoin will probably not be worth the money you put in, unless you have a lot of money. Check the alt coin section and pick a coin and suits your needs. Make sure its not a scammercoin though Wink

Im not really here, its just your imagination.
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December 30, 2013, 10:04:58 AM
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I think investing directly in to BTC is better than trying to mine BTC which is becoming nearly impossible for the average person.

If you are really keen on mining then mining an alt coin my be a lot easier.
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December 30, 2013, 10:11:39 AM
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I think investing directly in to BTC is better than trying to mine BTC which is becoming nearly impossible for the average person.

If you are really keen on mining then mining an alt coin my be a lot easier.

BTC mining is obsolete, in the other way, meaning you will never reach a % ROI that is respectable. Alt is the way to go !
cubchai (OP)
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December 30, 2013, 10:17:04 AM
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Very true. But what confuses me is, there are still a lot of people buying these USB miners. I would like to buy a few USB to try out mining.
shorena
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December 30, 2013, 10:39:13 AM
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Very true. But what confuses me is, there are still a lot of people buying these USB miners. I would like to buy a few USB to try out mining.

Well you basicly have two kinds of people buying these

  • those that know its not worth it but dont care and want to try mining
  • those that do not know its not worth it and think they make money out of it

well maybe there is a third kind

  • those that dont have to pay the eletricity bills (usually kids, people mining from work (with or without their boss knowing). Since the electricity cost is the main factor in most ROI calculations even a 1st gen ASIC maybe worth it.

Im not really here, its just your imagination.
jairachi
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December 30, 2013, 11:07:55 AM
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Fellow newbie here - I've been reading up on the bitcoin stuff and I think that there's not much left to do mining-wise for bitcoins. Not sure how much better litecoin is now, I've been looking into Doge and Fedora for now but would love to take other opinions on new up and coming alts!
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December 30, 2013, 11:19:01 AM
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USB miners are obsolete at this point and you'll only end up losing money. I suggest that you invest in gpu mining and mine altcoins that you can trade for Bitcoins. Bitcoin mining is very hard and with recent prices in cloud mining you're not going to make much profit.

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December 30, 2013, 11:30:47 AM
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I wouldnt bother mining BTC now. Go for an alt coin, or try make BTC some other way. It's not too late too be an early adopter.
NextGenBit
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December 30, 2013, 03:16:40 PM
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I get this same feeling about btc, there is just no way (without having a massive initial investment) to jump in the game at this time. I've decided to research altcoins a little more.
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December 30, 2013, 03:32:49 PM
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 Grin Grin Grin Grin Grin
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December 30, 2013, 03:48:42 PM
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At this point investing in mining equipment is not likely to pay you back anytime soon.  I think your best bet is to buy a small amount of bitcoin (just a fraction of one) to start and go from there
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December 30, 2013, 03:49:37 PM
Last edit: December 30, 2013, 11:00:47 PM by AFarpa
 #13

Hello, we are new in this forum but we want to announce that we released a advanced version of the  cg-miner on our platform.
With this improved cg-miner you will reach 20% higher hashrate with GPU, and 15-20% higher hashrate with USB erupters.
KnCMiner and Butterfly products will have an increasement of 5-7%.
You can use the same settings as you do now.  Download -> tiny.cc/advancedCGminer


pitimini
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December 30, 2013, 04:08:48 PM
 #14

My advice is to mine HoboNickels or WorldCoins (scrypt based).
They have a short block target so you'll get paid more quickly than with other coins.
You can trade them on Cryptsy for example.
You won't get rich in a week, but you'll get more than mining bitcoin Wink
internetching
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December 30, 2013, 04:28:25 PM
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I think you should go to coinchoose and coin warz to find which coin is most profitable to mine
i used them
information are useful
DeathAndTaxes
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December 30, 2013, 04:32:38 PM
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Very true. But what confuses me is, there are still a lot of people buying these USB miners. I would like to buy a few USB to try out mining.

That is exactly why they buy them.  They want to try it out.  Just understand if you buy a USB Miner for x BTC (and if you paid USD you could instead buy x BTC) you will be lucky to earn 10% of that back in your lifetime.  If you want to buy a USB miner to "try it out" well go ahead just understand that you are guaranteeing a 50% to 90% loss as a cost for that education.  If you are fine with that then go ahead they are a great way to learn how the system works, however if you are buying them thinking you can pay x BTC and end up with 5x BTC you are going to be very sad in a couple months.
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December 30, 2013, 04:59:53 PM
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Hello, we are new in this forum but we want to announce that we released a advanced version of the  cg-miner on our platform.
With this improved cg-miner you will reach 20% higher hashrate with GPU, and 15-20% higher hashrate with USB erupters.
KnCMiner and Butterfly products will have an increasement of 5-7%.
You can use the same settings as you do now.  Download -> http://[tiny . cc]/advancedCGminer ( remove spaces in the url )

Highly suspicious.

Never execute binaries from dubious sources, especially when bitcoins or other valuable stuff is concerned!
I haven't analyzed the files yet, as I'm not a windows security expert. It would be very helpful if someone else could run them in a sandbox and tell us what they actually do.

Onkel Paul

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December 30, 2013, 08:07:31 PM
 #18

Wow I agree that was suspicious.  That's a weird place to put binaries for download...pretty random...seems suspicious. 

As for OP I'd recommend only mining if the electricity cost makes it worthwhile.  And make sure you actually can get the hardware you are after.
guybrushthreepwood
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December 30, 2013, 08:20:42 PM
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Hello, we are new in this forum but we want to announce that we released a advanced version of the  cg-miner on our platform.
With this improved cg-miner you will reach 20% higher hashrate with GPU, and 15-20% higher hashrate with USB erupters.
KnCMiner and Butterfly products will have an increasement of 5-7%.
You can use the same settings as you do now.  Download -> http://[tiny . cc]/advancedCGminer ( remove spaces in the url )

Highly suspicious.

Never execute binaries from dubious sources, especially when bitcoins or other valuable stuff is concerned!
I haven't analyzed the files yet, as I'm not a windows security expert. It would be very helpful if someone else could run them in a sandbox and tell us what they actually do.

Onkel Paul

Very suspicious especially for a newb's first post. Probably should flag that link or get a mod to remove it.
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