New to bitcoin mining .. suggestions tips?

[bellasage]

Hey everyone,

I am a total noob at the moment to the whole mining and bitcoin. I have been following it and doing my reading and it's a lot of info to wrap my head around and yet very exciting. My husband bought me a new antminer S4 and it is due to arrive today. I was just wondering if anyone had any getting started tips and advice. Opinion about good pools for noobs , software ect .. I am planning on running the rig 24/7. Yes I have read the forum , but it all becomes very confusing following link to link.

Thanks in advance

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[philipma1957]

the s-4 is loud.
the s-4 uses more then 1200 watts

So what is your power cost?
10 cents a k-watt or less is good.
 10 to 15 cents a kwatt is marginal
15 to 20 cents is below marginal
above 20 cents is bad almost a certain loss.


It will be pretty hot.
It needs a dedicated power circuit if you live in the usa and use 120 volt power.

pools

btcguild and set difficulty at 1024  or 2048
  see screen shot

[bellasage]

Thanks philipma1957,

If I read my electric bill correctly its under 10 cents per kw ..

The rig will be kept in the basement where its colder and the noise shouldn't affect the rest of the house down there or not any worse than when the dehumidifier is running in the Summer. With winter coming the extra heat won't hurt

Dedicated outlet .. check

Thanks for the screen shot , quick question , what is the difference that I would notice between the two difficulties? or what's the reason for choosing one over the other?

Was this the wrong mining rig for him to purchase for me?

I'll check out btcguild .. he is leaning towards bitminter

Thanks

[xstr8guy]

Thanks philipma1957,

If I read my electric bill correctly its under 10 cents per kw ..

The rig will be kept in the basement where its colder and the noise shouldn't affect the rest of the house down there or not any worse than when the dehumidifier is running in the Summer. With winter coming the extra heat won't hurt

Dedicated outlet .. check

Thanks for the screen shot , quick question , what is the difference that I would notice between the two difficulties? or what's the reason for choosing one over the other?

Was this the wrong mining rig for him to purchase for me?

I'll check out btcguild .. he is leaning towards bitminter

Thanks

If you've read the forum as you say you have, then you should be able to answer this question yourself... "Was this the wrong mining rig for him to purchase for me?"

There are literally hundreds (thousands?) of posts discussing the pointlessness of buying mining equipment now for home mining. There are no "right" miners to buy. Home mining is dead.

[nikkoy]

woah! thank you for this thread. i was planning on mining at home but as i was reading about it through this forum, i kinda little bit discouraged to do so due to expenses incurred when mining. 


Thank you that someone had replied about this thread. 

[goozman96]

I personally mine on eligius. They don't have any pool fees unlike btcguild and still include Namecoin merge mining.

[rammy2k2]

just buy btc

[JessicaSe]

Hey everyone,

I am a total noob at the moment to the whole mining and bitcoin. I have been following it and doing my reading and it's a lot of info to wrap my head around and yet very exciting. My husband bought me a new antminer S4 and it is due to arrive today. I was just wondering if anyone had any getting started tips and advice. Opinion about good pools for noobs , software ect .. I am planning on running the rig 24/7. Yes I have read the forum , but it all becomes very confusing following link to link.

Thanks in advance

Dont mine and buy BTC directly, everyone would tell you the same thing..