Newbie starting his BTC hobby.

[Champ92]

Might consider looking at some other cryptos besides BTC.  A lot of those can be mined/traded for a profit right now.

Why? Do you think btc is not a good coin to start with? You can still trade btc with real cash.

[ensurance982]

Everyone gets told its pointless to mine, but we need miners for BTC to function. So whats the deal? who is getting profits there then?

only the big farm make profit, because they are far ahead of us, and they can keeps fill their farm with other asic, in not time

We don't need that many miners, actually. We just need a rather distributed amount of miners. Bitcoin could theoretically work with a handful of miners who only use their CPUs... (It would be rather vulnerable, yet it would work just as well).

[Itsumo]

If you are a newbie and might want to start mining. What is the right budget for that?

[gelar24]

haha who does not like if something could be a field of money
moreover bitcoin is very easy to become money but it takes persistence and seriousness in her live

[JackTackett]

As an update I ran the numbers this month for mining over the summer and my electricity bill is too high to do this as a hobby, so I've decommissioned everything but my S1's; and I'll be moving them to my datacenter cabinet (until I need the space for production machines) since I'm paying for the empty space and not using it all at this time.  So if you're doing this as a hobby keep an eye on your electricity costs - or find cheaper electricity.
Jack

[AltcoinInvestor]

I guess You should save your pennies everyday and buy btc weekly. Then note it down (how much you bought and what price).
I guarantee you'll have at least 10 times of these changes.

[Bitokdev]

Now BURST is the hottest coin.
Even Note can earn money with HDD.

[fredthegambler]

Now BURST is the hottest coin.
Even Note can earn money with HDD.

I didnt even know that coin. Are you joking?

[Coef]

Now BURST is the hottest coin.
Even Note can earn money with HDD.

I didnt even know that coin. Are you joking?

He was talking about this https://bitcointalk.org/index.php?topic=731923.0.

And nope, it is definitely not the hottest coin.

[Mattofla]

I don't think investing on mining is a good idea. You should think about something else rather than mining. You can try for BTC trading.

[Bananana]

Even burst coin isnt profitable anymore.

[Zebra]

I don't think investing on mining is a good idea. You should think about something else rather than mining. You can try for BTC trading.

Bitcoin trading is even more risky than mining.
You could lose 10% easily in just a day, and so you should try it in a small scale and should never put in more than you can lose.

[gogxmagog]

Run your miners as long as you can afford to. The btc mined could be worth many times what it is in the future. Unless you are paying more in electricity than it would cost to simply buy direct, you are good. You've already purchased the miners and you won't get what you paid for them if you sell, so you've got to ask yourself "what do you have to lose?"
Plus you don't want to regret not mining if btc hits 10000 or greater.

[halfbitcoin]

I'm new too, I have tried to mine with a couple of block erupters but I think that faucets are better..

[kingcoin111]

so how much should I invest if I want to buy a mining hardware? How much is the budget?

[ChuckBuck]

so how much should I invest if I want to buy a mining hardware? How much is the budget?

Whatever this costs:



Miners, rack space, cooling costs, datacenter costs, support costs...

Whatever that's involved in this picture is what it's going take to mine seriously for profit close to breakeven or maybe even a loss.

If you're just mining for hobby at home, just grab a single Antminer S1 or S3+:

[busterroni]

Welcome to Bitcoin, and good luck I do it as a hobby too!

[Gotti III]

Good luck with that sir! 

[zondic]

If I was you, I would seriously consider investing into some new 2.0 POS coins. BTC mining is not profitable and it is not seen to become profitable in the near future!

[DigiTanner]

I have also been getting tons of feedback saying that mining is not worth it. If anyone is indeed interested in trading/mining alt currencies, DigiByte is currently #1 in profitability of all of them.

-T