Mining Bitcoins in College

[79bird]

Hey guys!

Im a Sophomore in college looking into bitocoins. I read about bitcoin and did a report on it, and am now extremely excited to begin mining for them! However, I am having some difficulty understanding how to mine bitcoin, especially in my situation. First and foremost, I am planning on buying miners soon. But the thing is, there is no ethernet jack ANYWHERE inside our old home. The Wifi is hooked up to a cable. Question is, can I download bitcoin over Wifi without any connection to a phone jack? Also can I hear about how to connect a bitcoin setup? I wanted to know a bit more about what are the names of the cables you connect to your laptop etc. Also any good programs to use to mine/manage my coins?

Thanks all!

[Bizmark13]

I'm not a miner myself but I understand that dogie (a user here on the forums) has a number of useful tutorials for setting up and configuring miners. Each miner is a bit different but most should work with wireless connections although I've heard that some efficiency is lost compared to a wired setup.

Here is the tutorial for the Antminer S1 but you can click on any of the other miners at the top of the post to view the one for your particular model:

http://bitcointalk.org/index.php?topic=355387

[Amph]

mining bitcoin it's not profitable, waste of time and money

but if you want to try it out, you should buy one of those usb , search for them here on the market place or ebay

[Muhammed Zakir]

First of all, welcome to the community!

The link given above is good and you should check it. If you have a lot of money, you should go for one of the latest antiminers.

Connecting them to your laptop isn't a good idea. Try to buy Raspberry Pi.

if you need any help, feel free to post here!

mining bitcoin it's not profitable, waste of time and money

This isn't true! If you have a lot of money to invest and if your electricity cost is cheap, you can get profit from mining.

but if you want to try it out, you should buy one of those usb , search for them here on the market place or ebay

Only do this if you doesn't have enough money but want to test mining.

   -MZ

[LuckyBtc]

Hey guys!

Im a Sophomore in college looking into bitocoins. I read about bitcoin and did a report on it, and am now extremely excited to begin mining for them! However, I am having some difficulty understanding how to mine bitcoin, especially in my situation. First and foremost, I am planning on buying miners soon. But the thing is, there is no ethernet jack ANYWHERE inside our old home. The Wifi is hooked up to a cable. Question is, can I download bitcoin over Wifi without any connection to a phone jack? Also can I hear about how to connect a bitcoin setup? I wanted to know a bit more about what are the names of the cables you connect to your laptop etc. Also any good programs to use to mine/manage my coins?

Thanks all!

Antminer would be a good buy if you're really interested in mining Bitcoins. But before that you should check your profitability on coinwarz and decide accordingly to how much to invest in hardware.
http://www.coinwarz.com/calculators/bitcoin-mining-calculator

[Muhammed Zakir]

Antminer would be a good buy if you're really interested in mining Bitcoins. But before that you should check your profitability on coinwarz and decide accordingly to how much to invest in hardware.
http://www.coinwarz.com/calculators/bitcoin-mining-calculator

I depreciate using that calculator because it only shows current profitability and there is some problem in difficulty update(don't know if it is fixed). Use vnbitcoin.org instead.

   -MZ

[ChuckBuck]

Hey guys!

Im a Sophomore in college looking into bitocoins. I read about bitcoin and did a report on it, and am now extremely excited to begin mining for them! However, I am having some difficulty understanding how to mine bitcoin, especially in my situation. First and foremost, I am planning on buying miners soon. But the thing is, there is no ethernet jack ANYWHERE inside our old home. The Wifi is hooked up to a cable. Question is, can I download bitcoin over Wifi without any connection to a phone jack? Also can I hear about how to connect a bitcoin setup? I wanted to know a bit more about what are the names of the cables you connect to your laptop etc. Also any good programs to use to mine/manage my coins?

Thanks all!

The Antminer S1 is wireless if you're looking for a miner with wireless connection.  It should be very very inexpensive nowadays, so perfect for a college budget.

[79bird]

Sorry for bringing this post up, I was busy earlier with a ton of midterms lol.

SO yes, I am thinking about getting around 5 S1 miners to use wirelessly. What I do not understand at all is how I go about connecting the miner to my computer? I mean as in, what wires do I need? Do I need a PSU? And how does setting up this entire rig work (As in, how do I connect all the devices) ? I understand the concept of mining 100%, just not the steps needed to set up the equipment.  I also do not have a phone jack in my room, the router only has feed via a Coaxial cable, which I have in my room as well.

If somebody could elaborate how I would go about setting up this system, I would appreciate it.

[ranlo]

mining bitcoin it's not profitable, waste of time and money

but if you want to try it out, you should buy one of those usb , search for them here on the market place or ebay

While I usually agree that it's not profitable, that's not always the case. In college (assuming you live in a dorm and don't pay for electricity), all you pay for is the hardware and can run it 24/7 for free. So then it's a question of whether or not the hardware itself would pay off, with no other costs incurred.

[rayhan]

mining bitcoin it's not profitable, waste of time and money

but if you want to try it out, you should buy one of those usb , search for them here on the market place or ebay

While I usually agree that it's not profitable, that's not always the case. In college (assuming you live in a dorm and don't pay for electricity), all you pay for is the hardware and can run it 24/7 for free. So then it's a question of whether or not the hardware itself would pay off, with no other costs incurred.

I do not know because I've never tried it
but in my opinion if he does not pay for electricity will probably make a profit

[ranlo]

mining bitcoin it's not profitable, waste of time and money

but if you want to try it out, you should buy one of those usb , search for them here on the market place or ebay

While I usually agree that it's not profitable, that's not always the case. In college (assuming you live in a dorm and don't pay for electricity), all you pay for is the hardware and can run it 24/7 for free. So then it's a question of whether or not the hardware itself would pay off, with no other costs incurred.

I do not know because I've never tried it
but in my opinion if he does not pay for electricity will probably make a profit

It all boils down to the hardware being used. Some is profitable, others aren't. And it goes a bit deeper, as well, in that hardware won't last forever. It could last a month and die. It could last 40 years. Difficulty could triple in two weeks or drop in half. No matter what you do, you're still speculating. The only difference is that without electricity costs, you're taking out one of the many variables.

[Wardrick]

Since you don't have to pay electricity you're taking one of the money burners out of the equation. I made the mistake of not investing in mining gear two summers ago where I could of mined with as many computers as I wanted with free electricity. If I were you I'd invest in mining gear now, just make sure you get the right equipment.

[ranlo]

two summers ago where I could of mined with as many computers as I wanted with free electricity

I wouldn't take it that far. Keep in mind that if you're burning massive amounts of electricity, questions are going to arise (and potentially issues as well). For example, if you're running 15x ASICs that burn 2 kW/h, you're talking about $1800+ a month in electricity. Whoever pays that bill is not going to be happy about it.

[Wardrick]

two summers ago where I could of mined with as many computers as I wanted with free electricity

I wouldn't take it that far. Keep in mind that if you're burning massive amounts of electricity, questions are going to arise (and potentially issues as well). For example, if you're running 15x ASICs that burn 2 kW/h, you're talking about $1800+ a month in electricity. Whoever pays that bill is not going to be happy about it.

Yeah, I mean not infinite amounts, but I could of easily ran that many computers if I wanted to and they wouldn't of been able to do anything about it. It was in a very remote location with a lot of money. I guess the standard free electricity bills would be brought to question if it were to raise to an uncommon level. They might look into you similarly as someone who is growing marijuana, but I don't think they could take any action. The worst thing they could tell you is to stop doing it unless it's somewhere in their policy that you can't use X amount of electricity every month.

[Somekindabitcoin]

Yes you could download bitcoin over wireless. Bitcoin mining is highly unprofitable at the moment due to steady rise of difficulty, cost of electricity, and cost of the equipment. Even if you buy the equipment now, there's no telling how long it would take to return on investment because of the difficulty. If you had a lot of money, it would be a lot easier to get a return.

I recommend you try it as a hobby. Maybe buy a usb miner just to get the feel of the new world of crypto currencies.

[jorgelugra]

I recommend you if you have how, buy the S1/S2  because at this moment is cheap and you will see how this work and how the btc appear, but of course, you will need months for note a amount of btc in your wallet, try it

[wadili89]

what i think is mining bitcoins in collage hostal is perfect place now   because no electricity bills 100% profit , otherwise in my country mining is not profitable anymore because of the cost of elctricity

[Somekindabitcoin]

what i think is mining bitcoins in collage hostal is perfect place now   because no electricity bills 100% profit , otherwise in my country mining is not profitable anymore because of the cost of elctricity

It probably doesn't work that way. If he were to mine in his dorm or rental, he'd be subject to additional payment for rent because of huge electricity costs. Not only that, but they'd suspect something were going on and have an investigation put on him. I've heard stories of people thinking it was a pot growing operation when it was just someone trying to mine some bitcoin.

[kolloh]

I'm sure if the electricity bill rises enough, the college will notice something is up. You could probably still get away with 1 or 2 miners though.

Take advantage of it if you can.

[mezmerizer9]

Hey guys!

Im a Sophomore in college looking into bitocoins. I read about bitcoin and did a report on it, and am now extremely excited to begin mining for them! However, I am having some difficulty understanding how to mine bitcoin, especially in my situation. First and foremost, I am planning on buying miners soon. But the thing is, there is no ethernet jack ANYWHERE inside our old home. The Wifi is hooked up to a cable. Question is, can I download bitcoin over Wifi without any connection to a phone jack? Also can I hear about how to connect a bitcoin setup? I wanted to know a bit more about what are the names of the cables you connect to your laptop etc. Also any good programs to use to mine/manage my coins?

Thanks all!

Do not go into bitcoin mining, it just isn't profitable anymore. You're a student like myself, I've found my way trough this forum. Slowly building up my rank, learning in the progress and now I'm making about 10$ weekly from signature campaigns without almost no effort, 10-15mins daily. So that would be my honest suggestion to you.