I have a question about BitCoin

[Beezohh]

Today as I watched Austin Evan's video on cryptocurrency and bitcoin...

I decided to start bitcoin mining, I used both softwares Austin provided: Coinbase Bitcoin Wallet: https://www.coinbase.com and NiceHash cryptocurrency mining program: https://www.nicehash.com/?p=gstarted#seller 
I have a question, after mining for a short amount of time on the bottom of the program it says I have a balance of 0.00884 and mBTC of 0.03. I understand this as 3 cents but when I go to check on my coinbase wallet, it says displays I have 0.00. Is it not configured properly or is there a large delay from mining to the money being put in the wallet? 
Thank you 

[KuJoe]

NiceHash only pays out when you reach a certain amount I believe.

 

EDIT: I just checked and once you reach 0.01BTC (~$25) you'll get a pay out depending on when you set your payout schedule to (daily, weekly, or monthly). I forget what the fees are exactly also, but you should check to see how much it costs.

[You_are_a_cunt]

1 minute ago, KuJoe said:

NiceHash only pays out when you reach a certain amount I believe.

^ this. Once the minimum payout is reached (there's an absolute minimum or a user-defined minimum, iirc) the amount will be transferred to the wallet, minus the transaction fee

 

0.03 mBTC is NOT 3 cents.

mBTC=millibitcoin=1 thousandth of a bitcoin=0.001BTC=$2.49

Your 0.00884 is worth $21.99, roughly.

[Beezohh]

2 minutes ago, revsilverspine said:

^ this. Once the minimum payout is reached (there's an absolute minimum or a user-defined minimum, iirc) the amount will be transferred to the wallet, minus the transaction fee

 

0.03 mBTC is NOT 3 cents.

mBTC=millibitcoin=1 thousandth of a bitcoin=0.001BTC=$2.49

Your 0.00884 is worth $21.99, roughly.

That can't be correct? I have a low end PC and didn't even mine for an hour... How can It be around the 22 dollar mark?

[You_are_a_cunt]

Just now, Beezohh said:

That can't be correct? I have a low end PC and didn't even mine for an hour... How can It be around the 22 dollar mark?

That's what I was wondering.

My math is correct so your numbers must be off by a buttload.

[You_are_a_cunt]

A screenshot of nicehash would be nice (no pun intended)

[Beezohh]

1 minute ago, revsilverspine said:

A screenshot of nicehash would be nice (no pun intended)

Here you are my good man

[KuJoe]

Just now, Beezohh said:

Here you are my good man

You have a balance of 0.00884 AUD which is equal to 0.04 mBTC.

[You_are_a_cunt]

Just now, Beezohh said:

Here you are my good man

You read the data wrong.

Balance: 0.00884 mBTC (or 0.00000884 BTC)

Real-world currency value: 0.03 AUD

 

0.00884 mBTC is, indeed worth 0.03 AUD, or 3 kangaroo cents.

[You_are_a_cunt]

2 minutes ago, KuJoe said:

You have a balance of 0.00884 AUD which is equal to 0.04 mBTC.

That is wrong. read my post above.

[KuJoe]

Also, I hope you're getting electricity for free because according to NiceHash you should only expect to earn $0.38 per day with a single GTX 750 Ti.

[Beezohh]

Just now, revsilverspine said:

You read the data wrong.

Balance: 0.00884 mBTC (or 0.00000884 BTC)

Real-world currency value: 0.03 AUD

 

0.00884 mBTC is, indeed worth 0.03 AUD, or 3 kangaroo cents.

That's what I said before 3 kangaroo cents  but yeh I wanna know if you know is there a delay to go into the coinbase wallet?

[KuJoe]

1 minute ago, revsilverspine said:

That is wrong. read my post above.

Thanks, what a shitty GUI. LoL.

[KuJoe]

4 minutes ago, Beezohh said:

That's what I said before 3 kangaroo cents  but yeh I wanna know if you know is there a delay to go into the coinbase wallet?

Once you reach ~$25 USD payouts are performed weekly in your case. You can expect a payout in a little over 2 months if you mine 24x7.

[You_are_a_cunt]

1 minute ago, Beezohh said:

That's what I said before 3 kangaroo cents  but yeh I wanna know if you know is there a delay to go into the coinbase wallet?

As per nicehash's FAQ:

https://www.nicehash.com/?p=faq#faqs6

Quote

When and under what conditions do I get paid?
All payments are fully automatic - as a seller all you have to do is to reach a certain threshold and you'll be then paid automatically.

Sellers are paid on PPS (Pay Per Share) system under the next schedule:
- Once per day for NiceHash-wallet unpaid balances, greater than 0.001 BTC.
- Once per day for external-wallet unpaid balances, greater than 0.1 BTC.
- Once per week for external-wallet unpaid balances, greater than 0.01 BTC.

Payments for external-wallet balances less than 0.01 BTC are (temporary) suspended due to unsustainable transaction fees. 

Unpaid balances, lower than 0.0001 BTC are considered as leftover amounts and the only option for you to get these amounts paid out is to connect your miner long enough to reach unpaid balance higher than 0.001 BTC (for nicehash wallets) or 0.01 BTC (for external wallets) which will then be processed in full in the next payout process. Please also note that we are periodically discarding amounts, lower than 0.0001 BTC for all long term inactive miners. All balances from all algorithms are aggregated into a single payment.

Minimum payment is 0.001 BTC, with payments done daily

[KuJoe]

1 minute ago, revsilverspine said:

As per nicehash's FAQ:

https://www.nicehash.com/?p=faq#faqs6

Minimum payment is 0.001 BTC, with payments done daily

He has an external wallet so he'll need 0.01 BTC which are paid out weekly.

[desertcomputer]

2 minutes ago, Beezohh said:

That's what I said before 3 kangaroo cents  but yeh I wanna know if you know is there a delay to go into the coinbase wallet?

Plus bitcoin usually cost ~1USD cent to for payment process and more for payment. It really depend what services you are using. Personally, you are kinda too late for bitcoin mining unless you have a few Rx cards laying around you might able to make a decent small profit. That 750 won't make even on power bill, as a friend also want to go bitcoin mining with his 750ti but power bill was more. Especially if you live in Australia, where the power bill is god damn high. 

[You_are_a_cunt]

Just now, KuJoe said:

He has an external wallet so he'll need 0.01 BTC which are paid out weekly.

wops. forgot that part.

It's around $25 then. Or about a bagillion hours worth of mining.

I suspect electricity costs outweigh the money made mining on that rig

[You_are_a_cunt]

Just now, MrUnknownEMC said:

Plus bitcoin usually cost ~1USD cent to for payment process and more for payment. It really depend what services you are using. Personally, you are kinda too late for bitcoin mining unless you have a few Rx cards laying around you might able to make a decent small profit. That 750 won't make even on power bill, as a friend also want to go bitcoin mining with his 750ti but power bill was more. Especially if you live in Australia, where the power bill is god damn high. 

Even with an RX card (only have one, so yeah), I'd be making like $3/day, which is almost enough to cover the electricity bill and would mean letting my PC mine all day

[desertcomputer]

Just now, revsilverspine said:

Even with an RX card (only have one, so yeah), I'd be making like $3/day, which is almost enough to cover the electricity bill and would mean letting my PC mine all day

Yea, that why i said "a few".

[You_are_a_cunt]

Just now, MrUnknownEMC said:

Yea, that why i said "a few".

Cheapest RX480 8 gig (used) is about $450-500 right now (for me at least). That's double what I paid for mine last year in November!

I'd only consider getting a second one to crossfire, but the improvements in gaming don't justify the cost (plus I'd need a new PSU too).

Gonna wait for the crypto crash and maybe I can score a cheapo.

[Mooshi]

Mining during the summer months for pennies on the hour is dumb.

[desertcomputer]

1 minute ago, revsilverspine said:

Cheapest RX480 8 gig (used) is about $450-500 right now (for me at least). That's double what I paid for mine last year in November!

I'd only consider getting a second one to crossfire, but the improvements in gaming don't justify the cost (plus I'd need a new PSU too).

Gonna wait for the crypto crash and maybe I can score a cheapo.

Yea i know, i mean some people might have brought them before the ethereum coin boom. 

 

2 minutes ago, Mooshi said:

Mining during the summer months for pennies on the hour is dumb.

Winter over here in Australia.