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[Gigi]

What is Bitcoin?

I remember the first time I researched BTC mining on a PC was a year back and already it was a saturated and competitive market to enter (I missed the mining bus as they call it). One thing for sure, was that I didn't have the tech savvy to build something mining-worthy, and not just an elaborate room heater. Electricity isn't exactly cheap where I live either, due to excessive taxation.

Cloud mining certainly seems to have some perks, you meddle with less hardware, you get less senseless heat from the computer and there's a lower electricity usage.

But it's not all flowers and sunshine, most cryptocurrency mining sites are complete ponzi schemes (they pay the earlier investors with money from the newer ones).

Legit sites also have a thing called maintenance and electricity fees ("MEF"), which adds up as expense on your otherwise flawless plan of gaining profit in the span of 6 months. Another thing is that mining difficulty increases as more cryptocurrency is mined and there's a huge variation in the balance of cryptocurrency making frequent re-calculations of your "plan" necessary to avoid going into negative profit.

Has anyone successfully seen any profit from Cloud mining? Even small sum stories, I'd like to hear the experience.

 

[anorona]

Mining of bitcoins requires high specs computers, if you do not have one, you might face the problem of overheating yor pc because it surelu consume much cpu usage, so before start doing mining, you must consider not only the money but your pc's specs as well

 

[sumair7230]

Hello all i would like to know how i can start mining bitcoins if u got some knowledge or even links this will help thanks

 

[tusziget]

As I have heard,and read on many sites,with mining you can't earn that much,about $0.40 or somewhat more per day.I have read,that a miner can earn more,when he discovers a block.

 

[Medowriter]

Never do any crypto currency mining at your home ,it will end in resulting loss and it will produce huge distracting rough sound and cost high electricity installation cost is very high instead use trusted cloud mining such as Genensis mining etc or install some software if you want !!,thankx!!....

You are right, I don't think it even effective and profitable to mine cryptography currency privately cos there are chances that one will run at lost considering the utilities involved.

 

[Micheal joe]

You are right, I don't think it even effective and profitable to mine cryptography currency privately cos there are chances that one will run at lost considering the utilities involved.

Yes there are many loss and electricity cost will be even more high and sound is also very irritating and reward had also decreased to half as btc price is rising day-day ;its better to do gambling like me in freebitco.in and earning 0.001 btc daily without any installation cost required ;if u want to know tips u can message me ;thankx !!....

 

[Po1son]

Never do any crypto currency mining at your home ,it will end in resulting loss and it will produce huge distracting rough sound and cost high electricity installation cost is very high instead use trusted cloud mining such as Genensis mining etc or install some software if you want !!,thankx!!....

I have come across this site Genesis mining. Have you been successful on there? What kind of software do I install for mining? I am new to bitcoin mining and I am still researching about this.

 

[Micheal joe]

I have come across this site Genesis mining. Have you been successful on there? What kind of software do I install for mining? I am new to bitcoin mining and I am still researching about this.

first of all its not any software based mining ;its an hyip based cloud mining pool its trusted and legit and working since years till now smoothlyas it will never stop or close as its have real mining plant were people can rwach and see freely for trusting !!,I'm not successfull as its require a lot investment and intrest or profit is only 1%_2% ,i only like freebitco.in were I'm earning 0.001 btc freely with fun playing dice and hilo ,if u want any strategy or tricks to win message me ;thankx !!....

 

[Ethan Hunt]

you can mine bitcoin using your computer or phone processor...

 

[BMF]

Update

1 = $11,630

I wonder how profitable is now mining bitcoin? Can anyone share their experience? Thanks!

 

[Yugocean]

Today I tried mining in a site, it was wasting my computer's power, yet it did not earn me even a satoshi.
I think it requires better PC for mining. The more Bitcoin price, more it demands.

 

[Tulip]

Today I tried mining in a site, it was wasting my computer's power, yet it did not earn me even a satoshi.
I think it requires better PC for mining. The more Bitcoin price, more it demands.

OMG Its affacting your computer sounds really very dangerous. If this is useless for you better to stay away even thanks that you help us to know.

 

[Yugocean]

We cannot trust all the mining sites, they will first ask you to disable antivirus for mining, but this is another problem, we cannot jeopardize our PC's safety for a site we are not sure ourselves.

 

[leann0726]

I believe mining bitcoins with a laptop and be profitable is pretty hard, first of all, your laptop must have high-end GPU, but still, you will face problems with overheat after couple hours of mining. I believe the laptop will be destroyed due to mining soon.

I'm using my laptop for mining bitcoin and yeah it's starting to slowdown now. any suggestions of pc brand for mining?

 

[Yugocean]

One needs a pwerful computer to use mining, or use your old computer which you can think won't be a big deal if mining effect its power. Maybe you have to reset your computer from time to time due to mining effects. (But not if you are having desktop wallet in that computer)

 

[leann0726]

One needs a pwerful computer to use mining, or use your old computer which you can think won't be a big deal if mining effect its power. Maybe you have to reset your computer from time to time due to mining effects. (But not if you are having desktop wallet in that computer)

That's my problem actually. I don't have desktop computer to use for mining. I am thing of buying a new desktop computer for mining and also for doing homebase jobs. but i dont have any idea what brand is the best for mining and what specks should I look for. gosh it's so hard to beginner like me.

 

[overcast]

What you can do is make sure to buy gaming level hardware. And then install the miner software. And let the system when it goes idle start mining the bitcoin or blockchain for you. That in itself can be really helpful for most of the time. I would however be wary of this type of effort.

 

[leann0726]

What you can do is make sure to buy gaming level hardware. And then install the miner software. And let the system when it goes idle start mining the bitcoin or blockchain for you. That in itself can be really helpful for most of the time. I would however be wary of this type of effort.

thank you. that's helpful. I will do my homework first before buying those stuffs or maybe i will just build my own pc for hardcore mining. been watching YouTube videos for mining now and it does needs a big space of memory.

 

[Crystal]

That's my problem actually. I don't have desktop computer to use for mining. I am thing of buying a new desktop computer for mining and also for doing homebase jobs. but i dont have any idea what brand is the best for mining and what specks should I look for. gosh it's so hard to beginner like me.

for mining cryptocurrency you need a lot computing power not graphical performance when comes to graphic video cards from computers.
For example you can start to look here on this website http://gpuboss.com/gpus/Radeon-RX-580-vs-GeForce-GTX-1060 a comparison on graphical video cards and scroll down on page untill you find benchmark stat for mining bitcoin. You will see which one is recommended for mining.
If you compare prices on amazon ,you will find that Radeon even if its newer than gtx 1060 is much better for mining (according to gpuboss website) than a gtx 1060. Gtx 1060 is older but is a bit more expensive because is a more popular brand, so u pay for brand with an extra ~ 5 euros (275 euros vs 279 euros). But be aware that Radeon RX 580 consumes more power than GTX 1060.
But there are graphical video cards which are specially designed for mining but which you can use it on a normal purposes too so its not a special device for mining . Example is this list with newest graphical video cards good for mining http://www.techradar.com/news/best-mining-gpu
Also you can look here for tests http://www.legitreviews.com/best-gpu-ethereum-mining-nvidia-amd-tested_195229
It will take some time until you find some good infos and i suggest to google search a lot .
For example i found this https://videocardz.net/gigabyte-geforce-gtx-1060-6gb-windforce-oc-mining/ which is a special nvidia designed (OC = Overclock) for mining but also can be used on a normal computer.
Bitcoin mining with computer is kinda crowded on the pools and it has increased difficulty, thats why many prefer to mine something else and sell it for bitcoin.
Im not into mining so i cant provide more details.
Also be aware that mining with computer may shorten the life of that computer hardware part ,also the electricity bills is different on different countries.

EDIT : Because the mining performance between RADEON RX 580 and GTX 1060 is not very different but mostly only on power (185W vs 120 W) i would prefer this one https://videocardz.net/gigabyte-geforce-gtx-1060-6gb-windforce-oc-mining/ because the overclock might compensate the less performance of a normal GTX 1060 . And also consumes only 120W not 185W .

 

[leann0726]

wow! that's a lot of information and really, a big Thank you for that. I'll keep that in mind that I already saved those links that you shared on me. I just hope that it is available here in my country.I wish I can find one or maybe i will just use other brand in the meantime. thanks again.

 

[Crystal]

wow! that's a lot of information and really, a big Thank you for that. I'll keep that in mind that I already saved those links that you shared on me. I just hope that it is available here in my country.I wish I can find one or maybe i will just use other brand in the meantime. thanks again.

I'm glad that my info is helpful.
Please keep in mind , bitcoin or cryptocurrency mining is like gold rush. Meaning that many people are running to get a piece of it but before starting, they do not realise the risks . Risks such as mining difficulty (which is increasing every day and the bitcoin has one of the highest difficulty ) , electricity costs in their country , expensive video card crash before recovering the money from mining. But there is no profit without risk, right ?
At least i gave you a good start to get more info so when you really want to start mining you will know what to choose or what to do.
Speaking about mining difficulty, you will find out that many people (single computer users not mining farms with ASICs) are mining altcoins and saving or selling for bitcoin. i call it "indirect bitcoin mining".
Altcoins has usually a lower difficulty on algorithm mining .