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Author Topic: Im new, but best way to get started...  (Read 1567 times)
bolt_media (OP)
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December 11, 2014, 08:04:56 PM
 #1

I'm new to mining and have been reading for about a month on this topic. Really interested, want to get started. I have access to start up capitol as well.

What do you recommend I do to get started?
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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spazzdla
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December 11, 2014, 08:19:38 PM
 #2

I'm new to mining and have been reading for about a month on this topic. Really interested, want to get started. I have access to start up capitol as well.

What do you recommend I do to get started?

Are you trying to see a ROI from mining?  If so, do not mine.

Spoodilies, Rockminer or Bitmain are the best companies.

DO
NOT
BUY
PRE-ORDER

PLEASE FOR THE LOVE OF BABY JESUS DO NOT BUY PRE-ORDER.
bolt_media (OP)
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December 11, 2014, 08:41:15 PM
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I'm more so into it to learn exactly how it works and the process more then anything.

Seems not bad if your doing 2000GH/s a day.
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December 11, 2014, 09:19:19 PM
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I'm more so into it to learn exactly how it works and the process more then anything.

Seems not bad if your doing 2000GH/s a day.

Kijiji is your best bet just for hobby and learning.  IMO an S1 as they are going for dirt cheap and still produce a decent hash rate.  Should be about $50 for an S1 with out Powersupply.

There are roomers compaines will be releasing their next gen miners soon.. I personally am waiting on the S5 from Bitmain.  I only mine as a hobby however.
notlist3d
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December 11, 2014, 09:34:54 PM
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Avoiding preorders is a great idea.   My favorite miners that are out are the SP20 and S4.  Either one is a solid choice as a miner.
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December 12, 2014, 06:58:35 PM
 #6

One thing is trying a mining just to play. Other thing trying to make money from mining.

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December 13, 2014, 10:08:31 PM
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If you have btc my recommendation is going with a cloud company like hashnest that is reliable. If you really want a physical miner go with either spondoolies or bitmain s4s possibly.
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December 16, 2014, 09:22:26 PM
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I am widly agaisnt cloud mining.  I do not recommend it.  I would recommend it over a pre-order but that is not saying much at all.


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December 19, 2014, 10:36:13 AM
 #9

I'm new to mining and have been reading for about a month on this topic. Really interested, want to get started. I have access to start up capitol as well.

What do you recommend I do to get started?

my advice: buy bitcoin and hold instead of buying a miner, 70% of people who invest in mining hardware never see a return on their investment. Plus there are indications of a upcoming bitcoin rally early next year.
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December 19, 2014, 02:22:41 PM
 #10

I'm new to mining and have been reading for about a month on this topic. Really interested, want to get started. I have access to start up capitol as well.

What do you recommend I do to get started?

So you are lucky as bitcoin difficulty is dropping (which is really rare in bitcoin history). So buy S4 from bitmaintech straight away and you can start mining, also be sure to do some calculation like your electricity charges and so on to see if its profitable.





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December 19, 2014, 02:31:10 PM
 #11

The first rule of Bitcoin Mining Club is...you don't talk about Bitcoin Mining Club!   Cool

No, seriously, if you have to ask yourself if you're in it for ROI profit, or strictly as a learning hobby.

ROI, you seriously need one of these:



You have $425K, easy peezy, PROFIT!!!

https://bitmaintech.com/productDetail.htm?pid=000201412171033028658LE40FU705ED

Make sure you live in Antarctica, get solar and wind power, and get cooling from the South Pole freezing air first.


If you're just looking to putz around and play around with Bitcoin mining for shits and giggles, then just get a used Antminer S3.

Good luck!

CharityAuction
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