never understood bitcoin mining

[kingkedi]

hi i never understood bitcoin mining and wnat to ask here
is bit coin mining is done by programmers?
and does this need any experiecne?
please explain for a newbie who dont nknow naything

[Newar]

It can be done by anyone who is willing to learn about it. You get the experience as you go along. A starting point: https://en.wikipedia.org/wiki/Bitcoin_mining

[notlist3d]

hi i never understood bitcoin mining and wnat to ask here
is bit coin mining is done by programmers? Well the clients were programmed by someone... but no you can mine with no programming knowlelge
and does this need any experiecne? No but reading and researching will make your life much easier.
please explain for a newbie who dont nknow naything

Depending on miner setup can be very easy.  The more "all in one" miners with network card that connect to pool are VERY easy to use and learn in most cases.

[Madness]

I don't understand either , how powerful the PC should be ? RAM , CPU etc ..?

[byt411]

I don't understand either , how powerful the PC should be ? RAM , CPU etc ..?

Your average PC won't be able to generate many bitcoins at all. Any computer can mine, being profitable is another thing.
Watch this video, it should help you understand better:
https://www.youtube.com/watch?v=GmOzih6I1zs

[Jybrael]

With the current difficulty of mining I think an average pc wouldn't manage to mine bitcoin at all..you will probably need an ASIC machine.

[Madness]

I don't understand either , how powerful the PC should be ? RAM , CPU etc ..?

Your average PC won't be able to generate many bitcoins at all. Any computer can mine, being profitable is another thing.
Watch this video, it should help you understand better:
https://www.youtube.com/watch?v=GmOzih6I1zs

hm I see , thanks for the help , the video really helped me .
do I need to buy on of those ships and put them on my PC ?

[byt411]

I don't understand either , how powerful the PC should be ? RAM , CPU etc ..?

Your average PC won't be able to generate many bitcoins at all. Any computer can mine, being profitable is another thing.
Watch this video, it should help you understand better:
https://www.youtube.com/watch?v=GmOzih6I1zs

hm I see , thanks for the help , the video really helped me .
do I need to buy on of those ships and put them on my PC ?

No, they're specialized, individual pieces of mining equipment, and they aren't cheap.

[marex199]

hey i want to know how much do i need to invest in mining to get profit... can i start whit 50€ or 500€ or...
thanks

[byt411]

hey i want to know how much do i need to invest in mining to get profit... can i start whit 50€ or 500€ or...
thanks

Judging from Euros, you probably live in Europe. Then that probably means that you electricity is expensive. And that means that it won't be profitable for you.

[marex199]

hey i want to know how much do i need to invest in mining to get profit... can i start whit 50€ or 500€ or...
thanks

Judging from Euros, you probably live in Europe. Then that probably means that you electricity is expensive. And that means that it won't be profitable for you.

yes im from europe and price is 0.13 per kw... i know im late for mining ... so im just asking... what about litecoin?

[picolo]

hi i never understood bitcoin mining and wnat to ask here
is bit coin mining is done by programmers?
and does this need any experiecne?
please explain for a newbie who dont nknow naything

You buy equipment to mine, you use a software and you get back 30-70% of what you invested

[Rubber Ducky]

hey i want to know how much do i need to invest in mining to get profit... can i start whit 50€ or 500€ or...
thanks

Mining equipment prices are measured in thousands of dollars. And you need cheap electricity as has already been pointed out. Visit the group buys section to get an idea of what it would cost to buy an ASIC:

https://bitcointalk.org/index.php?board=137.0

[byt411]

hey i want to know how much do i need to invest in mining to get profit... can i start whit 50€ or 500€ or...
thanks

Judging from Euros, you probably live in Europe. Then that probably means that you electricity is expensive. And that means that it won't be profitable for you.

yes im from europe and price is 0.13 per kw... i know im late for mining ... so im just asking... what about litecoin?

Nope. If you really want to try it out, PM me and I can recommend some equipment to try out, but it won't be profitable.

[notlist3d]

hey i want to know how much do i need to invest in mining to get profit... can i start whit 50€ or 500€ or...
thanks

I suggest reading about equipment in hardware or group buy.  Then do some ROI math.   50 euro wont do much 500 you can get some.   One thing you will see is a lot of the miners get cheaper per GH the more GH it has (*this is not always true but a good general principle).   With big miner one controller, one network..... etc.    Then again there is the S3's you can do multiple of and are in your price range.

[philipma1957]

hey i want to know how much do i need to invest in mining to get profit... can i start whit 50€ or 500€ or...
thanks

Okay lets say you want to learn the how to do it.  (forget profit  for now)

If you were in the USA I would say buy this

https://bitcointalk.org/index.php?topic=612390.0

the 109.99 dollar unit.   it will almost certainly not make a lot of money but you can learn about the game at a decent price .

in europe it costs more

http://www.cryptobase.co.uk/product/new-r-box-100-110-ghs-asic-bitcoin-miner/

[wildjohn911]

This  is  quite  difficult   to  understand  bit-coin maning, especially for  nubers.  If  you  want  to  understand  this   posses  you   should   spend   some   time  on  this   and   read  some  forum,   some  literature  ect. It*s   new   knowledge  and   new  education! There   are  many  video  on  you-tube  and  special  community  in  internet,  so  if   you  want  you  can  get   some new knowledge  in  this  topic,  its  not   problem to  find  information! For   example   look  in  this  chart  and  you  can  see   that  any day it is  more  difficult  to mining. http://mining-profit.com/advanced-calculator. There  you  can  find  also  some  information  how  to  calculate you  time  to mine  some  bitcoins.

[minerpumpkin]

Well, effectively there is a big big puzzle of tiny tiles. Your computer automatically arranges this puzzle in a random way. If the resulting picture now makes sense in a certain way, you've solved a block and get a reward of 25 BTC. Because this happens extremely seldom, people join pools where they submit their results, and if someone has found such a solution, the reward will be split among everyone who contributed in trying to find a solution.
This is a very simplistic explanation, though.

[oceans]

Never been one to mine myself but from reading up on it I have come to realise that experience can be gained from reading up on it and trying it and that no actual experience is required for you to try. I would take a look around at as much information as you can find about mining and where to start. Also looking at the kind of setup you would need as well is wise.

[minerpumpkin]

Never been one to mine myself but from reading up on it I have come to realise that experience can be gained from reading up on it and trying it and that no actual experience is required for you to try. I would take a look around at as much information as you can find about mining and where to start. Also looking at the kind of setup you would need as well is wise.

But it's actually not 'hard' or anything. kingkedi makes it seem like you have to be a genius in mathematics or something. It effectively boils down to the fact that you're letting your computer or a dedicated device crunch some numbers for you, and the more numbers it's able to crunch, the more Bitcoin you get as a reward!