Completely new Would like help

[Arm103]

Hello all I have been looking into bitcoin mining for awhile,
Yesterday I started mining with my pc just to see how everything works. I know I will just lose money because of the electricity so I am thinking of buying https://products.butterflylabs.com/homepage-new-products/10-gh-s-bitcoin-miner.html if all goes well.
I am in slush's pool and I am using GUIminer

I have a few questions

1) How long does a round last

2) what do these fields actually mean in simple talk Estimated reward, Unconfirmed reward, Confirmed reward, Total reward

3) What is the meaning of the fields: Found blocks, Current shares, Score

I would love some clarification thank you very much

[Katarina]

Don't buy anything from butterflylabs, do a quick google and you will find out that they are never ship your ASIC until few years later..

[Arm103]

Don't buy anything from butterflylabs, do a quick google and you will find out that they are never ship your ASIC until few years later..

Okay, thanks for heads up have you any suggestions on who to buy the 10GH/s bitcoin miner from?

[ensurance982]

Don't buy anything from butterflylabs, do a quick google and you will find out that they are never ship your ASIC until few years later..

Okay, thanks for heads up have you any suggestions on who to buy the 10GH/s bitcoin miner from?

Depends on where you're located at. Look at the miners that are in hand in the selling and groupbuy sections of this board. Members like 'CanaryInTheMine', 'SilentSonicBoom', 'CrazyGuy' are trustworthy as far as I know. Just make sure the miners are in hand and it's not a pre-order - those things may never materialize.
In my opinion don't buy from: BFL, KNC, HashFast,... (Some of them used to be legit)
ASICMiner miners are legit, as are ROCKMINER miners (using ASICMiner chips). Also Antminers are legit...

[mailmansDOGE]

First of all and most importantly, don't buy from butterfly labs. Thank us later.

[Arm103]

Would this be a good starting point?
http://www.amazon.co.uk/Bitmain-AntMiner-U2-Bitcoin-miner/dp/B00ITR1X16/ref=sr_1_8?s=computers&ie=UTF8&qid=1406726121&sr=1-8&keywords=antminer

[indiguy]

While I also have the same question about what the OP is asking. I might just have to state my opinion because most of the people who really are into mining now recommends better devices with about THs and not GHs. This means you will have higher chances of better profit.

I was tempted to by Antminer S1 180GHs lately but then I've read its not something worth these days as they said. Antminer S3 with about 400+ GHs might work though.

[ensurance982]

Would this be a good starting point?
http://www.amazon.co.uk/Bitmain-AntMiner-U2-Bitcoin-miner/dp/B00ITR1X16/ref=sr_1_8?s=computers&ie=UTF8&qid=1406726121&sr=1-8&keywords=antminer

Well they are OK, but 2 GH/s just isn't enough anymore. You're looking at 2 GH/s sold for 20 Pound, you'll want to find a miner that's about $1 per GH/s. So these miners are over 10 times as expensive as they should be.

[ranochigo]

Would this be a good starting point?
http://www.amazon.co.uk/Bitmain-AntMiner-U2-Bitcoin-miner/dp/B00ITR1X16/ref=sr_1_8?s=computers&ie=UTF8&qid=1406726121&sr=1-8&keywords=antminer

Well they are OK, but 2 GH/s just isn't enough anymore. You're looking at 2 GH/s sold for 20 Pound, you'll want to find a miner that's about $1 per GH/s. So these miners are over 10 times as expensive as they should be.

These miners are usually for starters who want to experience BTC mining but not to ROI or profit for it. It uses less space and is portable. Miners like Antminer S3 would be a good idea to choose from although they may not ROI.

[InwardContour]

Forget mining as a profitable investment, you will only lose money and time.
Buy bitcoins directly if you want to have some profit, or if you want to play with small amounts of money just try cloudmining for a couple of days.

[ensurance982]

Forget mining as a profitable investment, you will only lose money and time.
Buy bitcoins directly if you want to have some profit, or if you want to play with small amounts of money just try cloudmining for a couple of days.

But there are people who'd like to understand the workings of bitcoin and like to get their hands on actual ASIC devices. If you like to do that, you may just give it a shot. And who knows, if you have access to very cheap electricity, you might just ROI

[notlist3d]

Depending on electricity might look into hosted miners.  Do ROI equations as always. 

And only get from trusted vendors, I suggest staying away from BFL.  If your looking at Monarch there is a lot of people waiting for them whenever they do start producing.

[DrG]

Op should be reading the thread about slush's pool since those questions are specific to that pool (Slush uses a custom method of counting shares).

https://bitcointalk.org/index.php?topic=1976.0

With regard to mining, pretty much any home miner would tell you you're probably going to end up loosing money.  Buy a cheap miner like a Rockbox and test the theory yourself if you want to see how mining works.

[Tammy Chan]

Forget mining as a profitable investment, you will only lose money and time.
Buy bitcoins directly if you want to have some profit, or if you want to play with small amounts of money just try cloudmining for a couple of days.

But there are people who'd like to understand the workings of bitcoin and like to get their hands on actual ASIC devices. If you like to do that, you may just give it a shot. And who knows, if you have access to very cheap electricity, you might just ROI

True. If OP is buying a small cheap miner for fun or for learning about bitcoin mining, it is definitely fine.
But since the price ($ per GH/s) of those small miner is usually pretty high, I don't think it has a chance to get profit even for free electricity.

[adaryian]

We run a unique pool, where small or big.. every block that is found you have a chance to enter to win 2.5 BTC.  Our pool has been designed to give a nice incentive prize to a random winner, which can then add to their mining farms hopefully and keep contributing to the pool.

No one miner can win back to back and along with that you'll still receive your PPLNS worth of Bitcoin you have mined.  The information is in my signature and we're looking for any type of range of miners, small to giants.  The more often we find blocks, the more often we can do reward payouts and everyone will eventually win because there is no house edge.

The pool is located at www.eCurrency.io -- I really hope to see some new faces around.  We're a friendly group of people and our goal is to help miners by giving them a lump sum to add to their mining endeavours because this pool was made by a miner for the miners.

Adaryian