JamescrypTrader (OP)
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May 21, 2018, 04:08:11 PM |
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Dear experts, I am here with newbie title. I want to get involved in mining. As a relaiable forum, I am requesting you to suggest me the basic requirement of BTC mining. I know I would get it from searching in google. But there I will not get actual expert feedback. So as I am here.
Thanks
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No Gods or Kings. Only Bitcoin
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jhache
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May 21, 2018, 04:11:43 PM |
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Well some of the basic requirements of mining Bitcoin is cheap electricity and ASIC miners. If you have these two than you can start mining. But if you don't have even any one out of them than mining BTC wont be feasible and you should instead just buy bitcoins from the exchange. Also mining on small scale isn't really much profitable nowadays.
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BillCoin
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May 21, 2018, 04:13:38 PM |
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Hey and Welcome.
I am not an expert but I can tell you that you can mine with any device that you would like to, even with a toaster as long as it can run the bitcoin core launcher.
But you must consider that you are not going to make any money if you won't buy a large amount of miners in a batch( to get a better price), and if you don't pay a closely to zero money for the electricity it's also going to be a disadvantage for you as miners who profit has very low electricity costs.
I can suggest you to strongly reconsider that and may consider just investing in bitcoin if you want to support the technology as you will most likely end up losing money from mining.
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cissrawk
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Secure your crypto : https://notyourkeys.org
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May 21, 2018, 04:20:17 PM |
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IMO, the basic is :
1. Electricity
2. Hardware
3. Place for mine
4. Pool
5. Know how to maintenance your hardware
Anyway, forget mine bitcoin and try mine another good coin. Bitcoin difficulty is really high now and the price is going down (or at least stable). You won't make a good profit except you have really cheap or free electricity and powerful hardware.
Well, if you want still to mine bitcoin. Then, good luck for it!
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virendarnagpal
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May 21, 2018, 04:23:56 PM |
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This is just entry point for you. My advise is be here in the forum for sometime. Just study the different sections available here specially Mining section. After study and experience you will be able to decide your next course of action.  |
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Gintama214
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DONATION SENPAI PLEASE <3 <3
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May 21, 2018, 04:44:15 PM |
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First of all, Welcome to the community. We are glad that you have decided to join and learn about cryptocurrency and not we are not all experts we base on our experience. For your question, Basic requirements for mining is that you need electricity, if you can get a free electricity then you so lucky because it will cost a lot and you need to keep your mining running 24/7 for you to earn. 2nd, you need a mining rig, which you have 2 options to choose. You can first, you can get an ASIC miner which will cost you 1-2K and second, you can buy a GPU preferable the highest one which is a TITAN or a 1080TI which will still cost you a lot so if you can get those you can mine a profitable with it. Lastly, a legit computer that takes on in mining. Those are the basic requirement of mining BTC. Good luck  |
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ParveZ219
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May 21, 2018, 04:45:37 PM |
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Dear experts, I am here with newbie title. I want to get involved in mining. As a relaiable forum, I am requesting you to suggest me the basic requirement of BTC mining. I know I would get it from searching in google. But there I will not get actual expert feedback. So as I am here.
Thanks
If you want profit then you have to invest to get a good miner or you can also do online mining...but dont get into the hands of scams...n do mining where electricity is much cheap or it will consume all your profit. |
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squatz1
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Flying Hellfish is a Commie
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May 21, 2018, 05:33:08 PM |
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If you want to get involved with mining, you're not going to want to mine bitcoin. Bitcoin isn't able to be mined with regular consumer grade hardware anymore, the time has come and passed for bitcoin and gpu mining. Though you still can still mine with your CPU and GPU for altcoins on something easy such as nicehash.
Not too hard and pay is in bitcoin. I do it and it works wonderfully, makes some pocket change everyday.
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somtandon2015
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May 21, 2018, 05:41:32 PM |
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Basic requirement of mining BTC
1. Electricity
2. Machinery
3. Place for mine
4. water Pool
5. Know how to maintenance your Machinery
6.Hardworking Staff.
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greenvally
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May 24, 2018, 10:22:24 AM |
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Bitcoin is leading the crypto market however BTC mining is great idea and I appreciate for your initiative so before mining make sure the weather of the area I mean room or place also the hardware is enough and you have the updated CPU also make sure your electricity is perfect for load and for more detail you can google it and based on this you can mine Bitcoin.
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jasydoggye
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May 24, 2018, 03:41:12 PM |
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The basic things you would require are- electricity, ASIC miners, pools, good stuff etc. Mining Bitcoin is very tough. I would not recommend you to start mining even if you fall short on any one of the listed requirements.
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zinson01
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May 25, 2018, 11:30:56 AM |
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though i am not a minener, so i have less knowledge. people give importance on ASIC miners and cheaper electricity. if you are new then maining in a smaller scale would be a nice idea to start if you are new.
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jasonkirbi
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May 25, 2018, 07:41:06 PM |
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BTC mining is great idea and I appreciate for your initiative so before mining make sure the weather of the area I mean room or place also the hardware is enough and you have the updated CPU also make sure your electricity is perfect for load and for more detail you can google it and based on this you can mine Bitcoin.
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MintDice
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May 25, 2018, 10:36:09 PM |
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According to this CryptoSource mining guide: http://cryptosource.org/mining/hardware-requirements/There are definitely some minimums you want to meet in terms of graphics card, memory supply, and motherboard. It'll put you out about $1,000 give or take so if you're looking to really increase your crypto profits, also consider just investing. Good luck! |
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Antonovski
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May 26, 2018, 01:09:38 AM |
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According to this CryptoSource mining guide: http://cryptosource.org/mining/hardware-requirements/There are definitely some minimums you want to meet in terms of graphics card, memory supply, and motherboard. It'll put you out about $1,000 give or take so if you're looking to really increase your crypto profits, also consider just investing. Good luck! I think thats a very expensive investment and the price of bitcoin is not consistent. |
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Strufmbae
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HIRE ME FOR SMALL TASK
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May 27, 2018, 04:51:09 AM |
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Mining is profitable if the tax in your country is low.
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Vietcaothuhn
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May 27, 2018, 04:58:40 AM |
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I invested about $500 for mining btc and unfortunately, its not working and i lost all of them, so awful
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