What do I need to start bitcoin mining?

[k_jonsie_]

I know I don't necessarily have the best hardware for it.  But what programs or software do I need to download in order to start mining?  How do I store them?  Links to any resources you have would be much appreciated!

[helping]

http://linustechtips.com/main/topic/105547-how-to-mine-scrypt-based-currencies-and-cash-out-guide/

[Askew]

patience

[helping]

patience

If I understand the specs correctly, patience is an understatement, we're talking about lifetimes to see a single coin.

[Helios79]

Here is my rant on the subject, and everyone is subject to their own opinion;

 

If you want to mine Bitcoins, you'll need to make an investment in ASIC mining hardware. No, not the little USB block erupters either. We are talking about Butterfly labs, or buying out a contract with a company that will mine Bitcoins for you. You will never see your full investment come back if you choose to do it this way as the contracts are making physical money off of you in exchange for processing power. These contracts can start in the thousands of dollars. Frankly I would never make such an investment. Many experienced miners have come to the realization that these contracts are ponzi schemes and are to be avoided.

 

The other way is to mine what are called 'scam-coins' on OpenCL supported hardware such as Radeon graphics cards. The more expensive the card, the better the hashrate will be. You can take your chances and attempt to find a scam-coin that will claim to be profitable at first. As always, as soon as the scam-coin hits Cryptsy or any other major exchange, everyone dumps it and the price of the alt-coin drops. Then you are at catch 22 again, waiting for the next coin to come out that will attempt to be profitable. Again, a waste of investment.

 

A common misconception is that believing that mining coins is a quick-rich opportunity, when indeed it's a hobby that costs far too much to be a part of.

[AlwaysFSX]

A hell of a lot of ASICs...

[Sauron]

You need to change your mind.

[ShadowCaptain]

you need a shit tonne of cash and you might not make a penny

 

 

You need to change your mind.

 

 

THIS ^

 

Leave it to the insane or professional

[gastew15]

You need a time machine... I mean if you just have a ton of money to spray around like water then by all means go ahead, but it's really beyond the point of "getting started"..

[KingKeith55]

a overpriced gpu

[siiC]

Either a really good mining-rig or a infinite life potion.. To be fair and square, I have a really small single USB-stick that I got because I think it looks cool. Can't even remember the specifications of it. If you want the mining to even out you need to spend atleast a couple of thousand dollars on a good rig. 

 

To be honest, it's more effort than outcome.

[BlackMamba]

not worth it all, but if you really want to i can sell you my butterfly asic miner which is doing nothing but getting dust 

[Xsilent(X)]

You will need now nothing you only will have to need patience if the prices are going to increase instead of dropping, and allot of hardware min of 5K dollars for a gpu farm with multipool alt coin to bitcoin cash out.

[steffen_anywhere]

To summarize, all the people above said it makes no sense to do it. I second this... There is no point to doing it anymore. Some people got somewhat rich from it at first, but they were the lucky ones. It is now completely useless for someone with a relatively normal hardware setup.

 

Just my two cents

[Builder]

If you want to get rich in Bitcoin mining, build the ASICs yourself and sell them to suckers who want to mine Bitcoins.

 

The ASIC manufacturers are who's really raking in the dough here.

[elkenrod]

A Time Machine

[ollierexx]

It will cost you more in power than the miniscule amount of BTC you will get with you PC