Help A Newbie Out!

[TheDiamondMiner]

Hello fellow miners,

I have just found out about Bitcoins. I want to get an ASIC Block Erupter. Then slowly move my way into hubs and whatnot. The question I have is what is the point of having a Rasberry Pi? Can I just have a couple of hubs connects to my computer filled with miners? Also is it too late for me to get profit with Bitcoins? How can I mine other coins and do I need another wallet, or can I use the wallet I already have?

Thanks, (Sorry for so many questions)
TheDiamondMiner

[Sharky444]

the PI needs less electricity than a PC.

[HeatherG78]

By the time you'll be able to recover your investment, it'll be probably so long that you could make much more just by buying bitcoins now. So, I think it is better to invest in bitcoins

[Wusolini]

hi

about BTC mining, I think its too late to make profit... you can join some big pool to make few satoshis ( if you already bought HW )

basically every coin need its own wallet
there are few online multicurrency wallets but I would first check some reference before puting there my coins
 

[bitconnect]

Too late to mine bitcoins for a profit. Start researching on other alt coins and mine those instead as they are more profitable. Google shall be your friend!

[hellfrozenow]

How can I mine other coins and do I need another wallet, or can I use the wallet I already have?

You need to have good ATI GPU and mine Scrypt coins, at some pools it mine the most profitable Scrypt coins and exchange to Bitcoin automatically 

[TheDiamondMiner]

Thanks for all the answers!

So the plan is to buy the rig and mine other coins. So is there a video on how you can set up the rig?

[colinfx]

If you are looking at building a GPU rig then you may find this guide helpful:

http://www.cryptobadger.com/build-your-own-litecoin-mining-rig/

I used this guide to work out what I needed to build decent rigs. In the end, I ordered specific builds from a PC manufacturer on eBay which I hope to take delivery of on Monday! (I ordered 4 x custom rigs each with 2 x R280X = 1.5Mh/s each, total of 6Mh/s with all four rigs running)

There is space in each rig to add another GPU allowing me to increase to 9Mh/s total power.

Good luck!

Cfx.

[TheDiamondMiner]

Thank you for the rig suggestion.

Although I was thinking more of a few usb hubs with fans hooked up to a Rasberry Pi with a wifi usb adapter.
How can I operate the Rasberry Pi? Also, how can I connect to networks and such with that? Or do I need to go with an Ethernet cable?

[FatMcNasty]

By the time you'll be able to recover your investment, it'll be probably so long that you could make much more just by buying bitcoins now. So, I think it is better to invest in bitcoins

Yup Ive been looking at it too.. And came to the same conclusion, drop the bucks straight into BTC. then hold a bit. if you use some for a purchase buy more to replace.

[mvenice1]

If you are looking at building a GPU rig then you may find this guide helpful:

http://www.cryptobadger.com/build-your-own-litecoin-mining-rig/

I used this guide to work out what I needed to build decent rigs. In the end, I ordered specific builds from a PC manufacturer on eBay which I hope to take delivery of on Monday! (I ordered 4 x custom rigs each with 2 x R280X = 1.5Mh/s each, total of 6Mh/s with all four rigs running)

There is space in each rig to add another GPU allowing me to increase to 9Mh/s total power.

Good luck!

Cfx.

Yeah that guide is good; I made one recently that takes some ideas from there and builds on it that can be found here. http://www.scryptguide.com/2-card-miner/

What I have been doing is mining coins and trading to bitcoin. That way I can use that money to trade and whatnot. Ive made some decent profits so far from just mining; today I made about 10% just messing around trading some of the coins I mined.

[fearunoevo]

Mine altcoins. Trade for bitcoins.

[TheDiamondMiner]

Thank you for the rig suggestion.

Although I was thinking more of a few usb hubs with fans hooked up to a Rasberry Pi with a wifi usb adapter.
How can I operate the Rasberry Pi? Also, how can I connect to networks and such with that? Or do I need to go with an Ethernet cable?

Can someone answer my question please? 

[mvenice1]

I dont have a lot of experience with the Raspberry Pi, but its a little computer. So I would think someone has probaby found a way to get a wifi adapter to work. Also, Im sure you can SSH to a raspberry Pi just like any other system. Im pretty sure you can install linux on Raspberry pi.

[TheDiamondMiner]

Thank You!

[Pita]

I think his confusion may still be that the USB ASIC miners he want to use with the Raspeberry PI are designed for bitcoin SHA-256 mining only and not scrypt/altcoins, which are mined currently via GPUs. If you have not purchased the Raspberry PI and the ASIC USB erupters, don't! You will spend more money than you will get out from mining bitcoins right now. The difficulty is very very high. Rather spend the money buying bitcoins and holding them, or invest in a few GPUs and mine altcoins and convert to BTC yourself or trough a mining pool like middlecoin.com that does it automatically for you.

[TheDiamondMiner]

What if I buy them now to mine alt coins? Then take those coins and invest in cloud mining?

[BCNext.]

It is realy to late to mine BTC, sorry my friend

[TheDiamondMiner]

I'm not talking about mining BTC. Im talking about getting the block erupter rig to mine other SHA-256 currencies or should I go with Scrypt currencies?

[Pita]

I'm not talking about mining BTC. Im talking about getting the block erupter rig to mine other SHA-256 currencies or should I go with Scrypt currencies?

check out coinwarz.com and enter your hashing power and approximate what potential returns you could get for mining sha-256 coins. Then take into consideration the increase of difficulty, potential price fluctuations of each of the coins and see what the ROI could be. All those coins right now have a fairly high difficulty, still below BTC's but who knows. If you can get the miners for literally spare change, sure why not, but paying full price on them and expecting much profit is questionable...