Bitcoin noob,need advice to start up

[ViciousClone]

Hi all,so as the topic says i have never mined via bitcoin ect.

Can anyone please explain how i do this to earn a little extra money?

i have a 3570k
and a R9 270 Radeon/amd
8GB ddr3

thanks !

 

[Jet-Fighter7700]

you need a lot more powerful PC for a start,

think bigger, much much bigger!

 

[Sokum]

http://blog.whitesites.com/GPU-miners-vs-USB-ASIC-Miners-for-Bitcoin__635096680766259765_blog.htm

 

[ViciousClone]

Still doesn't answer my question

 

[blaaislaai]

A PC is a good start for bitcoin mining, but for proper results.. you gonna have to have multiple AMD GPU's to start with and a powerful PSU to accompany them. Electricity costs are not cheap in SA so a fair share of money will go towards running costs as well.

Next month, one of the bitcoin cycles will end and the difficulty will increase, thus rewards for hashing will been halved by 50% meaning 50% less bitcoins mined at your current hashrate. You will have to upgrade hashpower to retain your profits.

 

[ViciousClone]

Ok so when i make something i see it works in USD,how do i convert this back?

 

[The_Ogre]

Still doesn't answer my question

You need a hundred more of those GPU's and the machine would need to run 24/7 for at least the next five years for you to be able to mine one bitcoin.

Does that put things into perspective

 

[blaaislaai]

Ok so when i make something i see it works in USD,how do i convert this back?

You will make something in BTC, what I usually do is.. I use google to convert the BTC amount to rand:

Convert 0.00135BTC to rand

Let all the generated coins be sent to your wallet, I recommend Xapo.. as you can have a debit card with it and withdraw physical money from our local ATMs with it as they do a conversion in the background automatically.

 

[ViciousClone]

You need a hundred more of those GPU's and the machine would need to run 24/7 for at least the next five years for you to be able to mine one bitcoin.

Does that put things into perspective

haha ,so what is a bitcoin worth

 

[ViciousClone]

Minergate whats this all about?the site and software

 

[TheMightyQuin]

Ok so when i make something i see it works in USD,how do i convert this back?

You'll die of old age a very long time before that machine mines 1 bitcoin....

Please, Google is your friend.

 

[netcruiser]

The time for profitably mining bitcoins with a PC or graphics card is long gone.

You need some of these:

https://bitmaintech.com/product.htm

 

[ViciousClone]

Aw well this idea was short lived !

 

[gregmcc]

Wouldn't even waste my time. Your electricity bill will be more than what you make.

 

[blaaislaai]

Rather go to the link in my sig and generate your coins that way, been using it for a few months. Already made my investment back and making full profits

 

[TheMightyQuin]

Rather go to the link in my sig and generate your coins that way, been using it for a few months. Already made my investment back and making full profits

Jirre, that is one complicated and convoluted pyramid scheme.....

 

[blaaislaai]

Jirre, that is one complicated and convoluted pyramid scheme.....

Dont need to signup via my aff link can go solo as well

 

[TheMightyQuin]

Dont need to signup via my aff link can go solo as well

Hu...no thanks.

 

[Jet-Fighter7700]

this^^^

its a nice hobby, but the Chinese are killing everybody with their data centers and massive computing capacity...

so for the average person its simply not worth it, its too expensive to gain anything really!

rather be like myself, buy and hold on to it, wait for the spikes to sell....

if you want I can provide you with my BitX invite code so you can get some free BTC from me....

 

[Pitbull]

Dont need to signup via my aff link can go solo as well

Jirre, unless you farm part of a scheme/community your chances of hitting a coin is just about zero.
Rather sign up