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Total noob in bitcoin

docterkiwi
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Go to solution Solved by theloveablemoose,

I meant from bitcoin :-/  

Short answer no.

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So, im intrested in making money with bitcoin and i want to ask what is the best way for me to go about that if im on my schools power grid which is rich as hell, and all i know is that involves gpu, so i have sli 770s. Sorry im such a noob but this seems like another adventure for me to get into.

Steam:Drift and Drift_2 <p>(name is hunter) Lets play:)

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dont waste your time with mining , there's no profit in it anymore 

Please quote me or tag me if your trying to talk to me , I might see it through all my other notifications ^_^

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Posted

No point only way to make money is to invest in a ASIC miner which may cost a couple thousand dollars depending on it's hashrate.

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Only AMD cards are worth it(assuming if you have free electricity) because they tend to have better results than Nvidia cards,

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Soooo any other way to make money other than minning?

Steam:Drift and Drift_2 <p>(name is hunter) Lets play:)

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Only AMD cards are worth it(assuming if you have free electricity) because they tend to have better results than Nvidia cards,

  

No point only way to make money is to invest in a ASIC miner which may cost a couple thousand dollars depending on it's hashrate.

  

dont waste your time with mining , there's no profit in it anymore

Above post

Steam:Drift and Drift_2 <p>(name is hunter) Lets play:)

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Soooo any other way to make money other than minning?

Job?

 

And how did you manage 2 770s in SLI but have a lack of funds.

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Posted

    

Above post

Job or just do some F@H(you get no money but your donating for the cause)

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I meant from bitcoin :-/

Job?

 

And how did you manage 2 770s in SLI but have a lack of funds.

  

Job or just do some F@H(you get no money but your donating for the cause)

Steam:Drift and Drift_2 <p>(name is hunter) Lets play:)

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Short answer no.

Roger that thanks for your though man.

Steam:Drift and Drift_2 <p>(name is hunter) Lets play:)

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I meant from bitcoin :-/

Buy low, sell high?

Honestly though. Bitcoin isn't worth it in general these days. You would need to buy thousands worth in hardware, and wait months, upon months to see any profit. If any.

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Roger that thanks for your though man.

You could but there's a lot of risk involved, its basically playing the drawback of bitcoin which is the volatile price. Buying low selling high.

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Soooo any other way to make money other than minning?

 

 

Buy low, sell high?

Honestly though. Bitcoin isn't worth it in general these days. You would need to buy thousands worth in hardware, and wait months, upon months to see any profit. If any.

There is always money to be made somewhere. If trading Bitcoin isn't volatile interesting enough for you then there is always shitcoins altcoins. Nothing like the opportunity to lose make anywhere from 5-500% every day!!!!  Check out https://bittrex.com/ for a great way to lose that extra Christmas money as fast as possible!! 

 

P.S. As a self proclaimed noob you WILL lose money trading if you do it for any amount of time, don't blame me when that inevitably happens and you fall for a scam.

You are free, act like it~Warfairy. Moar guns. B) #3Dprinting

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As a self proclaimed noob you WILL lose money trading if you do it for any amount of time, don't blame me when that inevitably happens and you fall for a scam.

I agree, there is not an easy way to make money on Bitcoin.

If you only think of Bitcoin as a way to make a quick buck then you're missing out. Cryptocurrencies are really fascinating and if you have a genuine interest I suggest you do some research around them. You can find out pretty much everything you would want to know about them with enough research. Otherwise, no, I don't suggest you invest in mining Bitcoin now.

"PSU brands are meaningless, look up the OEM."

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Only AMD cards are worth it(assuming if you have free electricity) because they tend to have better results than Nvidia cards,

Not even. Bitcoin isn't anywhere remotely close to as profitable as it was before. Not worth it to mine with AMD cards anymore even if you don't pay for electricity. You'd have to do it for a long-term span, likely past whatever bitcoin's life is gonna be

"Rawr XD"

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mining with bitcoin is almost useless unless you have free electricity, and time to waste. And even then, you will make a max of like 1-2k USD which will barely cover your time, and money put into it. 

 

If you know anything about investing, and economics. You might be able to make alittle cash on the side by bitcoin investments. Soo to simplify a pretty complicated thing. You do your research and find a good time to buy bitcoin at a low, and than sell at a high. BUT if you have any tendencies of not knowing when to stop, you might very well waste your life savings, and end up on the streets.

Is it bad that my dream setup only costs a few thousand not counting the obutto?


 

CPU: FX-8320

Motherboard: asrock 970Pro3 r2.0

Memory: Team Zeus Blue 8GB DDR3-1600 Memory 

Video Card: Sapphire Radeon R9 280 3GB DUAL-X Video Card 

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Power Supply: EVGA 500W 80+ Certified ATX Power Supply  

SSD: MX100 128GB

HDD: WD 2TB black edition

 

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I wish there could be some CPU miner. I got  my old PC with a old i7 which is still pretty good:D Would be nice if I would be able to mine with it and make profit:D

 

but this do not exist:(

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I wish there could be some CPU miner. I got  my old PC with a old i7 which is still pretty good:D Would be nice if I would be able to mine with it and make profit:D

 

but this do not exist:(

 

Isn't this because they discovered mining with processors was much worse than mining with graphics cards?

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I have a GTX 970 and it generates 550MH/s.

I also have a $16 USB ASIC Miner and it generates 1.5-3.2GH/s.

 

It is not really a profitable thing to do anymore, but its just something kind of cool to have there.

 

I've made about 3p so far and I've had it on for some weeks.

 

I reccomend getting an ASIC Miner.

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Isn't this because they discovered mining with processors was much worse than mining with graphics cards?

 

From my extremely basic knowledge people started with CPUs then figured out GPUs were better (and you can have multiple GPUs in a computer) and then they discovered ASIC chips were far superior. Now the only way to get a (incredibly small) profit is to invest in a big ASIC rig thing and put in so much time that along with the cost to get started you'd probably have spent your time better working a minimum wage job... 

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Want to experience mining, get the money you want to spend, then on a windy day throw it into the wind then try and catch as much as you can. Congrats you just experienced mining

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A job...

 

These days you earn more money working for a single hour, than what you do for a whole year's worth of mining. (At least with normal computer hardware)

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