Newbie starting his BTC hobby.

[techgeek]

The hobby can be quite expensive depending which route you take.

I`d just advise on the mining nonsense and just buy bitcoin when its low like these days have been, and hold.

[JackTackett]

Welcome to the hobby!  Myself I enjoy experimenting with different miners and settings.  I've tried various machines and these are my results so far:

CPU and gpu of doge coin and Litecoin: not very efficient so no longer mine with them.

5 chip gridseed miners.  1 died, the rest I'm using to mine just Litecoin at the moment and getting ready to try xdual mining.  Waiting on some new measuring equipment to monitor power consumption.

U2:  I've found bfgminer the best software to mine with u2s. However I've found they have a very high mortality rate-like 40%!   Not sure if this indicative of the hardware, or the fact I purchased these used, which I've done with all my hardware miners.  Since folks are selling their miners as they either exit mining or buy newer equipment I can get pretty good prices on used miners.

Block erupter cubes.  These have worked ok, but I've never been able to get them anywhere near their maximum rate, even when I over locked them and trying several different pools.  And when I over lock them they tend to melt the fuse. 

S1: my most successful experiment so far. I get the typical hash rate with no problems(180). And their costs used keep dropping, the average seems to be about 150$ per unit.

Good luck and have fun.

Jack

[jjc326]

You're too to see lots of people with a bunch of BTC ...try to realize they got lucky but it's unlikely you'll make te same kind of cash. Keep it a hobby and don't invest too much

[Wafel16]

If you looking fr a profit than start up with some other altcoins rather than btc,It's hard to earn a quick profit starting with such hardware.Other alt cryptos are real good for mining and making quick profit

[RogerBTCrabbyt]

We missed our lifetime chance to get rich. Let's all get together and cry. Free hugs 

[DhaniBoy]

For Now if you don't have not enough money for the investation, you have to think twice if you want to invest your money into bitcoin mining as CEO.IX or PBmining.com. it because of the fluctuating price of bitcoin, so you can not predict how much profit will be earned, maybe that should be calculated first is how long it would return on investment

[greeneye222]

Thats what you should call this, a hobby. Do not take it toooo seriously. Might be the biggest regret of your life.

[ChuckBuck]

For Now if you don't have not enough money for the investation, you have to think twice if you want to invest your money into bitcoin mining as CEO.IX or PBmining.com. it because of the fluctuating price of bitcoin, so you can not predict how much profit will be earned, maybe that should be calculated first is how long it would return on investment

Actually, I wouldn't recommend any cloudmining at the moment, as none will return a profit or ROI.  If you absolutely must, at least pick one with a reasonable price tag.  Know going in that you won't profit probably, but at least you're getting decent bang for your buck:

https://www.hashnest.com/

http://gawminers.com/pages/hashlet-solo/

Buy a few hashes, accrue some coin, but if you truly want to gain the most Bitcoin with the least effort and time, just buy it at an exchange.

[addroup]

Cloud mining isn't profitable at the moment but nobody knows if it will be in the future,
my advice is to invest your earning in bitcoin and hold them for the long term.

[indoboycoiner]

Don't mine, just but bitcoins with the money.

yah, i think mining cost a lot.The money you mine, you buy btc and invest.

[Kolakazki]

Cloud mining isn't profitable at the moment but nobody knows if it will be in the future,
my advice is to invest your earning in bitcoin and hold them for the long term.

Got that man..The thing is where to invest?

[BunsenBurner]

Cloud mining isn't profitable at the moment but nobody knows if it will be in the future,
my advice is to invest your earning in bitcoin and hold them for the long term.

Got that man..The thing is where to invest?

IMHO, just buy some bitcoin with your spare money, keep it safe and wait for the bitcoin price to go a lot higher.
Don't invest more than you can lose, as you never know if bitcoin price will go up or down.

[wunkbone]

Cloud mining isn't profitable at the moment but nobody knows if it will be in the future,
my advice is to invest your earning in bitcoin and hold them for the long term.

Got that man..The thing is where to invest?

IMHO, just buy some bitcoin with your spare money, keep it safe and wait for the bitcoin price to go a lot higher.
Don't invest more than you can lose, as you never know if bitcoin price will go up or down.

Yup, thats the best investment right now..

[Scoremaster]

mining at this stage will lose you a ton of money dude. dont even bother. its all loss. seriously. stop mining its not worth it. u can get 2000 free satoshis if you play dicing on win.88 lol

[MilesJohan]

mining at this stage will lose you a ton of money dude. dont even bother. its all loss. seriously. stop mining its not worth it. u can get 2000 free satoshis if you play dicing on win.88 lol

Yup, none of the mining is profitable.. the noob need to start reading and buy btc instead..

[minerpumpkin]

Hi Guys

I have been looking at the BTC project for a while now and decided to start small...
I started with a GPU generating 227mh/sec running with 7 days with minimal failures earning a total of 0.00002243 BTC. I'm connected to the Slushy pool.

I have now purchased a Antminer U2+, using bfgminer 5.xxxx and i'm currently running at average of 2.3gh/sec from my basic calculations this does give me approx 20x more hashes.

Obviously if i'm going to invest in further hardware is it worth progressing with AM U2's using a USB hub, is it a worthy project, and how do i know when my calulations fail on BFGminer? I have the command prompt but can only decipher a few details.

I know starting a project like this is not profitable but an interesting "potential" investment for the future.

2.3 GH/s are 2300 MH/s, so you've now got about 10 times the hash rate than before. You may look into buying larger miners. Maybe the new ASICMiner tube. They're in stock and have a lot more power. Also, they're much more efficient, they use less than 1W/GH/s!

[BunsenBurner]

Hi Guys

I have been looking at the BTC project for a while now and decided to start small...
I started with a GPU generating 227mh/sec running with 7 days with minimal failures earning a total of 0.00002243 BTC. I'm connected to the Slushy pool.

I have now purchased a Antminer U2+, using bfgminer 5.xxxx and i'm currently running at average of 2.3gh/sec from my basic calculations this does give me approx 20x more hashes.

Obviously if i'm going to invest in further hardware is it worth progressing with AM U2's using a USB hub, is it a worthy project, and how do i know when my calulations fail on BFGminer? I have the command prompt but can only decipher a few details.

I know starting a project like this is not profitable but an interesting "potential" investment for the future.

2.3 GH/s are 2300 MH/s, so you've now got about 10 times the hash rate than before. You may look into buying larger miners. Maybe the new ASICMiner tube. They're in stock and have a lot more power. Also, they're much more efficient, they use less than 1W/GH/s!

ASICMiner is good and legit, but the minimum direct order is 40 hashing units which is 200-215GH/s each, ie. 8TH/s total.
https://bitcointalk.org/index.php?topic=735728.0

For smaller order, you may consider CanaryInTheMine's GB. https://bitcointalk.org/index.php?topic=735982.0

[ShintoshiBTC]

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

Bitcoin is more stable and is backed up with maybe a million users. Stick with BTC. Hold your BTC. Learn more about it and then decide.

[MasterCasino]

I also started today, it will be a long way until my first BTC. Good luck everyone.

Great! A newbie.. Can you update how much your btc is right now?

[Ayers]

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