I am planning to start bitcoin mining so please help

[bloggersjoy]

Hello Everyone,

As I have written in the title that I am planning to start Bitcoin Mining so I need good suggestions from everyone who has some experience in this field.

I am planning to start with 1GHS in the beginning but not aware of what return can one GHS generate for me in one month.

Can anyone please tell me how many satoshis of bitcoins can one GHS mine per day and per month?

What is the total cost of mining with 1GHS? Are there any hidden cost like maintenance cost or money transfer charges etc?

What is the best place to cash out my bitcoins and get money instantly in my paypal?

Please suggest.

Thank You

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[n00b2013]

a bit late id say, esp with such a small amount of hash, you wont make much
check this calculator out, look at what the returns are and keep in mind that difficulty changes every 2 weeks: https://bitcoinwisdom.com/bitcoin/calculator

if you plan to mine using hardware, the costs are hardware and electric; if you plan to rent, the cost is the rent (worse in most cases)

there are no hidden fees, but everything in life costs, so getting bitcoin incurs a minor fee from the pool where you mine (1-4%), then you trade this bitcoin say on localbitcoins, if you want the cash in paypal, there is no fee for selling your bitcoin to a buyer on localbitcoins, but of course paypal will hit you with their customary 3% fee for receiving cash, then another minor fee for transferring the cash to your bank account

[jonnybravo0311]

Hello Everyone,

As I have written in the title that I am planning to start Bitcoin Mining so I need good suggestions from everyone who has some experience in this field.

I am planning to start with 1GHS in the beginning but not aware of what return can one GHS generate for me in one month.

Can anyone please tell me how many satoshis of bitcoins can one GHS mine per day and per month?

What is the total cost of mining with 1GHS? Are there any hidden cost like maintenance cost or money transfer charges etc?

What is the best place to cash out my bitcoins and get money instantly in my paypal?

Please suggest.

Thank You

Are you truly thinking about only 1 gigahash?  Did you mean 1 terrahash?  Maybe I should rephrase this... how much are you looking to spend on your initial hardware investment?

If you were serious about the 1GH/s, if you had that mining for you right now, you could expect to earn 0.00002109BTC per day, which at current conversion to USD is just about $0.01 a day.  Unless your electricity is free, and the hardware you're planning to use was also free, you should really re-think getting into mining.  Even if it IS free, you should re-think getting into mining.  I'm pretty sure you'd be better off walking around and looking for change on the ground.

[spazzdla]

Why not start with 35Ghash..

eyeboot.com 

[madken7777]

https://tradeblock.com/mining/

Run a profit simulator before you start. Remember to include hosting and electricity cost as well as hardware depreciation cost.

[chaosknight]

Hello Everyone,

As I have written in the title that I am planning to start Bitcoin Mining so I need good suggestions from everyone who has some experience in this field.

I am planning to start with 1GHS in the beginning but not aware of what return can one GHS generate for me in one month.

Can anyone please tell me how many satoshis of bitcoins can one GHS mine per day and per month?

What is the total cost of mining with 1GHS? Are there any hidden cost like maintenance cost or money transfer charges etc?

What is the best place to cash out my bitcoins and get money instantly in my paypal?

Please suggest.

Thank You

Seriously, buy BTC instead of mining gear. None of the mining is profitable even if you have dirt cheap electricity. search around and you will know

[pikabit]

So who the fuck gets profits from mining? someone has to do the mining for Bitcoin to function and everyone is told to forget about it so...

[jonnybravo0311]

So who the fuck gets profits from mining? someone has to do the mining for Bitcoin to function and everyone is told to forget about it so...

The guys who make the hardware and also mine with it.  They're the ones making the lion's share of the profit.  You and I can't compete with that.

I'm not saying mining is absolutely in no way profitable for the home user - it just becomes more and more difficult to squeak out the profits as time goes on.  You basically need to be lucky... you need to get the hardware very early on in its existence, you need for the difficulty to not rise too much during the early stages of mining with your new hardware, etc.  You need to do a ton of research and pretty much be in the right place at the right time.  So, it's just far easier and more efficient to answer "don't bother" to most everyone, simply because most everyone asks, "What's the best miner for me to buy that will get me the most profit?"  Just like the OP of this thread.  He wants to get into mining and thinks 1GH/s is a good start.  Maybe over a year ago.  Not now.  So, that's why most of us answered the way we did.  Heck, I even told the poor guy to walk around looking for spare change on the ground as it would net him a better profit.

[seriouscoin]

So who the fuck gets profits from mining? someone has to do the mining for Bitcoin to function and everyone is told to forget about it so...

so who the fck gave birth to an idiot like you?

seriously? are you this fcking dumb?

[alani123]

I've written two guides on mining, you can have a look at them here: link 1 link 2

Number one is about hardware mining and number two is about cloud mining. You should be looking at cloud mining if you'd like to start with just one Gh/s. The guides were aimed to non experienced users so I think you'll find them particularly useful.

[seriouscoin]

I've written two guides on mining, you can have a look at them here: link 1 link 2

Number one is about hardware mining and number two is about cloud mining. You should be looking at cloud mining if you'd like to start with just one Gh/s. The guides were aimed to non experienced users so I think you'll find them particularly useful.

right.... another cloudmining scam.

This is what we need for newbies huh?

[alani123]

I've written two guides on mining, you can have a look at them here: link 1 link 2

Number one is about hardware mining and number two is about cloud mining. You should be looking at cloud mining if you'd like to start with just one Gh/s. The guides were aimed to non experienced users so I think you'll find them particularly useful.

right.... another cloudmining scam.

This is what we need for newbies huh?

Well, I'm not sure if you actually took a look at the article itself. Just in case you didn't :

Furthermore, you should not forget to check the reputation of the company you’re going to buy a contract from. This one is really important, there were cases that companies handing out contracts turned out to be scams and there still are concerns about the rest. Even Gavin Andresen, chief scientist at the Bitcoin Foundation voiced his concerns through reddit stating that mining contract companies could be running ponzi schemes.

This is in the last paragraph of the article. In the previous article, I even tried mentioning ways people can check the reputation of a company.