How old do you have to be to mine Bitcoin?

[legend8887]

I'm 14 and in need of a new PC... can I mine bitcoin to help pay for my new PC? I won't have to pay the energy/power costs. (My parents do that.)

[Ghost]

Ask your parents before adding hundreds to the electricity bill. But yes you can mine. Don't expect it to pay for anything.

[legend8887]

Ask your parents before adding hundreds to the electricity bill.

I'm sure I won't add hundreds of dollars to the electricity bill. I have a 240 watt external PSU. (Alienware)

[scaryjam823]

You won't make enough to pay for your pc for a long time, and to the above poster my rig only costs an extra $15 a month running 24/7. Hardly hundreds when you get a good efficient power supply

[legend8887]

Ask your parents before adding hundreds to the electricity bill. But yes you can mine. Don't expect it to pay for anything.

Tiger Direct? They accept Bitcoin.

[legend8887]

You won't make enough to pay for your pc for a long time, and to the above poster my rig only costs an extra $15 a month running 24/7. Hardly hundreds when you get a good efficient power supply

Not the whole PC. Just some individual parts.

[scaryjam823]

Not the whole PC. Just some individual parts.

You still wont. I make about $15-$20 a week mining  18 hours a day, you wont be able to buy anything for a long time.  Granted you can make more with better mining graphics cards but I doubt you have that with a 240w power supply. You'll make way less than me, for example my laptop with a dedicated graphics card makes about $2 a week mining 24/7. You'll probably make about that much as my laptop does.

[legend8887]

You still wont. I make about $15-$20 a week mining  18 hours a day, you wont be able to buy anything for a long time. 

Anything helps... I'm sure I could buy a fan with it.

[legend8887]

You still wont. I make about $15-$20 a week mining  18 hours a day, you wont be able to buy anything for a long time.  Granted you can make more with better mining graphics cards but I doubt you have that with a 240w power supply. You'll make way less than me, for example my laptop with a dedicated graphics card makes about $2 a week mining 24/7. You'll probably make about that much as my laptop does.

Awesome.

[scaryjam823]

Anything helps... I'm sure I could buy a fan with it.

Read my revised post. You can do it if you want, but it's really not worth it for the money. It's interesting to learn about, a pain to setup, time consuming to transfer the coins and money around. But you could do it if you really wanted to, just don't expect much.

[Ghost]

I'm sure I won't add hundreds of dollars to the electricity bill. I have a 240 watt external PSU. (Alienware)

I doubt you will be able to mine much with a 240W PSU.

 

You won't make enough to pay for your pc for a long time, and to the above poster my rig only costs an extra $15 a month running 24/7. Hardly hundreds when you get a good efficient power supply

Depends where you live. But my PC mining runs at 500ish W.

 

Assuming $0.10 per W and a 3 month bill the power bill will have about $108 to the bill, every bill. Of course you would earn more but I assume you wont be giving the payee a cut.

[legend8887]

Read my revised post. You can do it if you want, but it's really not worth it for the money. It's interesting to learn about, a pain to setup, time consuming to transfer the coins and money around. But you could do it if you really wanted to, just don't expect much.

I will get Bitcoins from Bitcoin mining which I will use to buy things on Tiger Direct.

[scaryjam823]

I doubt you will be able to mine much with a 240W PSU.

 

Depends where you live. But my PC mining runs at 500ish W.

 

Assuming $0.10 per W and a 3 month bill the power bill will have about $108 to the bill, every bill. Of course you would earn more but I assume you wont be giving the payee a cut.

Never heard of a 3 month power bill. I've only heard of monthly ones, that's what I pay. In that case your estimate was pretty much on track

[scaryjam823]

I will get Bitcoins from Bitcoin mining which I will use to buy things on Tiger Direct.

Bit coins are hard to mine, they take a long time even when in a pool. The difficulty is high because so many are building mining rigs. The best way to mine bitcoins is to invest in a mining rig then over several months you'll pay for the rig. But we are talking $10k-$30k for this, which you don't have. Any case you can still try it out and see if it is worth it to you.

[Ghost]

Never heard of a 3 month power bill. I've only heard of monthly ones, that's what I pay. In that case your estimate was pretty much on track

It's called a quarterly bill and is used by a lot of people in the UK. I assume a couple of other countries too.

[scaryjam823]

It's called a quarterly bill and is used by a lot of people in the UK. I assume a couple of other countries too.

That's interesting. It's not in anywhere I've heard in north america. However here where I live you can pay money to them as a reserve and you pay for you electricity daily. It's a better way to keep track of your usage by giving them lets say $100 and have that gone in a week. They just call you and let you know your reserve is running low and need to deposit some.

[flibberdipper]

Tiger Direct? They accept Bitcoin.

Malewarebytes does too, now.

[legend8887]

Bit coins are hard to mine, they take a long time even when in a pool. The difficulty is high because so many are building mining rigs. The best way to mine bitcoins is to invest in a mining rig then over several months you'll pay for the rig. But we are talking $10k-$30k for this, which you don't have. Any case you can still try it out and see if it is worth it to you.

You don't understand.

[tobben]

I'm 14 and in need of a new PC... can I mine bitcoin to help pay for my new PC? I won't have to pay the energy/power costs. (My parents do that.)

just don't, firstly you shouldn't mine bitcoins on conventional hardware, go for litecoin or something scrypt based, and secondly, just don't do it, why would you screw over your parents like that? you might aswell just ask them to give you money, you will be spending their money to get money yourself, in the end you are just stealing for your own benefit.

 

and from the sound of it your pc won't be profitable regardless.

[ViruZ_HUN]

I'm 14 and in need of a new PC... can I mine bitcoin to help pay for my new PC? I won't have to pay the energy/power costs. (My parents do that.)

No dont do it. yet.

 

When you grown up and you live alone and make your own money and paying electricity bill, then get a mining rig.

 

The mining rig can eat very much and it will cost very much for your parents

 

If you need a PC, get a gaming PC instead, and be happy with it

[squirrl]

I'm sure you can get more than 2 $/£ a week just doing chores around the house. You'd get more money, your parents would spend less. Win- Win.

[the pokemon kid]

Unless you were to invest a large amount of money this would not be worth mining bitcoins, the difficult level is too high and the power consumption would send the electricity bill through the roof. You could look at the other alternatives such as Litecoin which might bring in slightly more money for you because of the lower difficulty .

[stuwoac]

to answer your topic question old enough to pay the bills

[Tyrone Chicken]

You don't understand.

I don't think you understand. Mining is incredibly difficult and now there are dedicated chips for bitcoin that will mine literally over a hundred times faster than your PC. 

[Kyl3]

If you can't figure out that there is no age requirement on Bitcoin mining, you should not be mining Bitcoin.