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Author Topic: Bitcoin Noob-Need Help to start Mining!  (Read 3578 times)

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Offline nokiafanTopic starter

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Bitcoin Noob-Need Help to start Mining!
« on: January 07, 2014, 06:13:07 AM »
I am a noob with bitcoin, do not understand it entirely, have done some research, but I want to start mining.  I do not know how to start, I believe I will need a bitcoin wallet, but I do not know which one to use and from where.  I only have PC's, no specific bitcoin mining hardware, and will have access to 6 PC's that have constant internet access.  I want to know what will be the best bitcoin software to use for a PC, and want to know how much money I could make mining with this type of setup.   




Thanks!






EDIT:


Another Question that may not be Mining Related:


One more question I have is, after I have a certain amount of bitcoin, how would I be able to exchange it to USD?
Thanks!
« Last Edit: January 07, 2014, 06:16:27 AM by nokiafan »


Offline Shadow Angel

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Re: Bitcoin Noob-Need Help to start Mining!
« Reply #1 on: January 10, 2014, 01:31:07 AM »
Ok, i will try and answer everything for you.

1: Armory wallet is the wallet software you want to use.

2: you do not want to use your computers as miners, you say you have access to 6 computers, if you use them for mining in 2 months you will have 0 computers, and about .00000010 bitcoin. its just not a good investment. you can buy a 333 mh/s usb miner for $30 and that will mine the same as having 100 computers running, so why not just spend the $30 and save some headache.

Offline magog45

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Re: Bitcoin Noob-Need Help to start Mining!
« Reply #2 on: January 13, 2014, 07:34:09 PM »
I'm afraid you aren't going to get much help here, as you see even an administrator was pretty dismissive of your inquiry and any searches done seem to turn up pretty circular results. He was right though you need some dedicated hardware to mine and since the increase in price of bitcoins and all the publicity the price of that hardware has skyrocketed and the increase in difficulty meant that you need hardware to have any hope of making anything substantial. That being said I mine at about 35G/hs which is about average for the pool I am in and I make about 0.01 bitcoins a day mining 16 hours a day, you could let that be your guide and decide if it's worth the investment in hardware. Good Luck!!

Offline Shadow Angel

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Re: Bitcoin Noob-Need Help to start Mining!
« Reply #3 on: January 21, 2014, 11:14:08 PM »
I'm afraid you aren't going to get much help here, as you see even an administrator was pretty dismissive of your inquiry and any searches done seem to turn up pretty circular results. He was right though you need some dedicated hardware to mine and since the increase in price of bitcoins and all the publicity the price of that hardware has skyrocketed and the increase in difficulty meant that you need hardware to have any hope of making anything substantial. That being said I mine at about 35G/hs which is about average for the pool I am in and I make about 0.01 bitcoins a day mining 16 hours a day, you could let that be your guide and decide if it's worth the investment in hardware. Good Luck!!

Yeah, what Magog45 said. Mining with CPU/GPU is a dead concept and you will not find much help with it. unless you can find GH/s for under $5 per GH/s and can afford at least a minimum of 30-40 GH/s but more realistically 200 GH/s this day in age, you are best just to buy bitcoin instead of investing in hardware.


 

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