Advice for getting into coin mining.

[maximillian]

I am looking into getting into folding or coin mining. If I did coin mining how much could I make using an i5-2500k and a GTX 570? Would litecoin or bitcoin be better? What is your favorite mining program? 

 

I am brand new to this and know almost nothing as of now. 

 

Thanks for the help in advance. 

[MrSuperb]

Don't

[Commissar]

I don't know about litecoin, but bitcoin is pointless to try and mine. the difficulty is too high, with my 7970 i'd only make an estimated $130 a year, even without having to pay for power

[maximillian]

Is there any point to folding? I know it doesn't make money but will it even be worth it for the amount I would contribute? 

[niksuto]

Is there any point to folding? I know it doesn't make money but will it even be worth it for the amount I would contribute? 

Every little bit helps.

[ANUPLUCIFERGAMER]

Is there any point to folding? I know it doesn't make money but will it even be worth it for the amount I would contribute? 

hm.......

[Mixzzz]

Don't because the difficulty is just too high and also Nvidia GPUs and CPUs wont make you much money....

[MeltyMoon]

Is there any point to folding? I know it doesn't make money but will it even be worth it for the amount I would contribute? 

Ofc there's a point to folding, you help save lives!

 

Edit-600th post

[kuzimins]

I tried doing this. The program said i would make 0.0003 coins a day, thats about 2 cents. Pointless.

[BenDreadful]

hm.......

 

gratz, you got +1 on your post count, glad to see it means so much to you.

 

 

 

to OP, folding is basically volunteer work, you won't get anything in return other than the fact that you helped speed up research.

 

with your hardware it will most definitely be worth it to fold. try it out and see if it's your kind of thing.

[megadarkwood]

Here, read this

https://linustechtips.com/main/topic/64266-ultimate-bitcoin-guide/

[CPUmodder]

Don't bother with mining with cpu's or gpu's look for ASIC miners or cloud hashing, ASIC mining is where you will start to make some serious money  , or cloud mining. cloud mining is the simplest way to get started and the best part is they do all the hard work for you

 

link to one of the cheepest cloud hashing services i found (yes i know that it is not active but it is the cheapest and i personally have 5gh/s preordered) :

 

link to cloud hashing that is active bit more pricey but in the long run you end up about doubling the money you put in :https://cloudhashing.com/

 

or you can purchase ASIC miners to run you self: http://www.butterflylabs.com/

 

or you can look around ebay for USB ASIC miners, they are a good cheep way to get into bitcoin mining and are a good and cheep way to see weather you can be bothered mining at all (it is harder to manage at the beginning). 

 

If you chose to go down the route of mining at home or work the easiest way i found to set up ASIC miners is just to use bitminter: https://bitminter.com/ it is sssoooo simple that anyone can set it up (be sure to follow the instructions though). 

 

I hope that this helps you if you have questions don't be afraid to ask and remember that if you set it up properly you can make some serious cash!! 

 

(for my mining i run 13 USB ASIC miners at about 4.3 gh/s which at the time of posting is about 2-3 AUD a day and 5gh/s in the cloud. i get a nice amount of money everyday and it is nice to save up money and get things for effectively for "free" besides the more gh/s you have the more money will come in)

 

If i have made any big mistakes i apologise because i am also new to bitcoin mining