What should I be doing?

[Sophia1029]

I am fairly new to cryptocurrencies and I do not know much about how mining works.
I am wondering since it seems no longer worth mining BTC with a generic computer, are there any Altcoins that possibly have potential that I could mine while at work and while sleeping? Or do I have the wrong idea how it works?
I don't know what I need but my computer I think has a quad-core processor and 4gb RAM.
If anyone can suggest altcoins and how to get started I would appreciate it. =)

Also, I have been reading through these forums and I am wondering, are most of the altcoins being advertised by people that created them themselves for their own benefit? I just can't tell how legit some of these posts in the altcoin section are because everyone is really trying to sell their favored altcoin.

[bobster]

If you do not have a strong graphics card (GPU) that you already use for gaming, I would recommend not getting into the mining game. If you only have a CPU, it is very hard to mine any coins. It is not the easiest task configuring and optimizing a machine while still keeping it cool and not noisy and not to mention doing some maths calculations on electricity costs to still be profitable. It is way easier to just buy a coin from the exchanges and track the price whether it goes up or down.

To determine which altcoins have the most potential, a good resource to start is to look at CoinGecko. There are many metrics on the website giving you stats on the developer activity, community strength, trading volume, market cap etc. You may use these stats to make a judgement on which coins may be strong.

[Sophia1029]

If you do not have a strong graphics card (GPU) that you already use for gaming, I would recommend not getting into the mining game. If you only have a CPU, it is very hard to mine any coins. It is not the easiest task configuring and optimizing a machine while still keeping it cool and not noisy and not to mention doing some maths calculations on electricity costs to still be profitable. It is way easier to just buy a coin from the exchanges and track the price whether it goes up or down.

To determine which altcoins have the most potential, a good resource to start is to look at CoinGecko. There are many metrics on the website giving you stats on the developer activity, community strength, trading volume, market cap etc. You may use these stats to make a judgement on which coins may be strong.

Thank you so much for the reply bobster! I really appreciate it a lot.
I guess I won't try to get into it then, I guess I am just searching around for ways to maybe make a little bit extra money.

[bobster]

If you do not have a strong graphics card (GPU) that you already use for gaming, I would recommend not getting into the mining game. If you only have a CPU, it is very hard to mine any coins. It is not the easiest task configuring and optimizing a machine while still keeping it cool and not noisy and not to mention doing some maths calculations on electricity costs to still be profitable. It is way easier to just buy a coin from the exchanges and track the price whether it goes up or down.

To determine which altcoins have the most potential, a good resource to start is to look at CoinGecko. There are many metrics on the website giving you stats on the developer activity, community strength, trading volume, market cap etc. You may use these stats to make a judgement on which coins may be strong.

Thank you so much for the reply bobster! I really appreciate it a lot.
I guess I won't try to get into it then, I guess I am just searching around for ways to maybe make a little bit extra money.

Not a problem. You may try your luck at trading by researching coin stats on CoinGecko. If you are careful enough you may make some money, but be careful cause it's equally easy to lose money too. Trade only with small amount of money that you can lose. Learn how things work in the cryptocurrency scene. Observe and do your research (a lot).

[EvilDave]

As a newbie...I'd recommend doing absolutely nothing for a while.
Study the alt-coin world very closely, try to figure out for yourself how shit works around here, because there are more than a few scammers around who will be very happy to take your money away from you and give you very little in return.

If you have real money to invest....put it mostly in Bitcoin, and a couple of top 10 or 20 alt-coins. There is a good chance (though the market is insanely unpredictable) that BTC will start rising again soon, and this rise will also pull up most of the good alts with it.
As a beginner: 70% BTC, 30% (or so ) in alt-coins.

4 basic rules of investment:
If people ask for your money, be very suspicious. Remember it's your money.
If something sounds too good to be true.....it probably is. Anyone who guarantees you a 300% ( or whatever) profit is lying to you.
If you don't understand how something works.....don't buy into it.
Do your own research.

Good luck, be careful.

[devphp]

Download 'nxtty' to your android phone and get a signup bonus, which could grow into something sizeable in the future. More info: https://bitcointalk.org/index.php?topic=735878.0

[youngmike]

I am fairly new to cryptocurrencies and I do not know much about how mining works.
I am wondering since it seems no longer worth mining BTC with a generic computer, are there any Altcoins that possibly have potential that I could mine while at work and while sleeping? Or do I have the wrong idea how it works?
I don't know what I need but my computer I think has a quad-core processor and 4gb RAM.
If anyone can suggest altcoins and how to get started I would appreciate it. =)

Also, I have been reading through these forums and I am wondering, are most of the altcoins being advertised by people that created them themselves for their own benefit? I just can't tell how legit some of these posts in the altcoin section are because everyone is really trying to sell their favored altcoin.

Buy from any ICO all bitcoins you have!!!! Quick before it's too late!!!!

[lionelpaul]

I am fairly new to cryptocurrencies and I do not know much about how mining works.

If anyone can suggest altcoins and how to get started I would appreciate it. =)

1. Stay away from mining.
2. Read, read, read (https://altcoinherald.com, http://www.coinssource.com, https://www.coingecko.com or others).
3. Don't listen to people whose only goal is to make a short term profit. Crypto-currencies are not (or should not be) about buying/mining shit coins that everybody knows will be dead in 3 months. Cryptos intend to change the way we use our money, the way we use the Internet, and the way we share things between people, without unnecessary intermediaries.
4. Find a few Altcoins you like and feel attracted by. Altcoins that you would really use, because they seem to solve a problem you have, or at least would simplify your life if they succeeded.
5. Download their wallet, try to get some free coins with faucets, or buy a few coins with small investment (<$100) on an exchange. Follow these Altcoins through social medias and community tools. See what happens and understand how it works.
6. Get back here in a few months ;-)

[HeroCat]

I would suggest not to mine with your computer, it is complete waste of time. There a lot of mining companies instead 

[djm34]

I am fairly new to cryptocurrencies and I do not know much about how mining works.

If anyone can suggest altcoins and how to get started I would appreciate it. =)

1. Stay away from mining.
2. Read, read, read (https://altcoinherald.com, http://www.coinssource.com, https://www.coingecko.com or others).
3. Don't listen to people whose only goal is to make a short term profit. Crypto-currencies are not (or should not be) about buying/mining shit coins that everybody knows will be dead in 3 months. Cryptos intend to change the way we use our money, the way we use the Internet, and the way we share things between people, without unnecessary intermediaries.
4. Find a few Altcoins you like and feel attracted by. Altcoins that you would really use, because they seem to solve a problem you have, or at least would simplify your life if they succeeded.
5. Download their wallet, try to get some free coins with faucets, or buy a few coins with small investment (<$100) on an exchange. Follow these Altcoins through social medias and community tools. See what happens and understand how it works.
6. Get back here in a few months ;-)

nice post.
It should be posted on every coin (most of them with IPO) being launched at the moment...

[Anise]

Better off just buying the coins you like off an exchange instead of mining. The RIO on mining can take forever if at all.

[djm34]

Better off just buying the coins you like off an exchange instead of mining. The RIO on mining can take forever if at all.

yep, clearly it is the fastest way to lose your money, but at least you won't fill your home with boxes and useless hardware