The LTB Network Forum

i am completly new and clueless to the bit coin mining "game" lol

Back to New? Find Help Here.

Comments

Not_The_NSA

Offline
Posts: 3
Location: Pittsburgh, Pa

ok so im familier with bit coins, used them for various things and latley i been wanting to mine. i understand how mining works but dont know how to get started. i have a wallet already and need insite on software, reliable mining pools, and hardware to make my mining worth while. i am very interested in joing the community of mining and learning the inside and outs of the trade. so anyone who would to be my Mr.miyagi of mining feel free haha. I would like to go ahead in advance and thank anyone one for any tricks, tips, and insite on this subject.

Posted on November 20, 2014 at 6:56 PM

0 likes

• Cryptonaut

  

  Offline
  Posts: 1944
  Location: Canada

  Honestly, if you are looking to make money off of it...unless you have a TON of cash to invest in the latest hardware as well as access to cheap electricity its just not worth it at all to get into bitcoin mining. You are a couple years too late for that, the difficulty is so high that mining farms are pretty much industrial level operations now. You could probably still get into mining some altcoins without spending too much though

  Posted on November 20, 2014 at 7:30 PM
  Permalink
  0 likes
• ikidesu

  

  Offline
  Posts: 625

  https://en.bitcoin.it/wiki/Mining www.coindesk.com/information/how-bitcoin-mining-works/ more information about mining here: https://bitcointalk.org/index.php?board=14.0

  Posted on November 20, 2014 at 7:30 PM
  Permalink
  0 likes
• Not_The_NSA

  

  Offline
  Posts: 3
  Location: Pittsburgh, Pa

  @Cryptonaut thanks for the insite. now lte coins, i heard a lot about them. like there going to be the new btc coin, do you feel that to be true? i never researched them to much but it seems like the discustion is eaither really good or bad.

  Posted on November 20, 2014 at 7:52 PM
  Permalink
  1 like
• Not_The_NSA

  

  Offline
  Posts: 3
  Location: Pittsburgh, Pa

  @ikidesu thanks for the read!

  Posted on November 20, 2014 at 7:52 PM
  Permalink
  0 likes
• Cryptonaut

  

  Offline
  Posts: 1944
  Location: Canada

  @notthensa @Cryptonaut thanks for the insite. now lte coins, i heard a lot about them. like there going to be the new btc coin, do you feel that to be true? i never researched them to much but it seems like the discustion is eaither really good or bad.

  you mean litecoin? definitely not. It literally is just a copy of the bitcoin sourcecode but a few minor adjustments made. also you can see all the different cryptocurrencies here: http://coinmarketcap.com/

  The market cap alone in bitcoin is 40 times larger than the 2nd largest coin (litecoin.. i dont count ripple). IMO, none of the copycat coins stand a chance. I think they will stick around though and have their own userbase etc., but I think that bitcoin is going to always stay the biggest

  Posted on November 20, 2014 at 7:59 PM
  Permalink
  0 likes
• irnhnve

  

  Offline
  Posts: 228

  @cryptonaut

  @notthensa @Cryptonaut thanks for the insite. now lte coins, i heard a lot about them. like there going to be the new btc coin, do you feel that to be true? i never researched them to much but it seems like the discustion is eaither really good or bad.

  you mean litecoin? definitely not. It literally is just a copy of the bitcoin sourcecode but a few minor adjustments made. also you can see all the different cryptocurrencies here: http://coinmarketcap.com/

  The market cap alone in bitcoin is 40 times larger than the 2nd largest coin (litecoin.. i dont count ripple). IMO, none of the copycat coins stand a chance. I think they will stick around though and have their own userbase etc., but I think that bitcoin is going to always stay the biggest

  On a side note...why does ripple keep going up in value everyday!? I havent heard anything about it recently but everytime I go on coinmarketcap its gaining on a daily basis

  Posted on November 20, 2014 at 8:52 PM
  Permalink
  0 likes

Post Reply