Cryptocurrencies are now so easy even your Grandma could do it

How to Bitcoin for Beginners

Due to the fact I have been getting slammed with request on how to setup and start making money with Bitcoins I decided to write a little guide.

I know there are most likely better and more profitable ways but this is by far one of the easiest way to get started.

http://www.realhardwarereviews.com/how-to-bitcoin-for-beginners/

If you yourself mine or looking for any advice or suggestions make sure to comment here.

Thanks! Haven't ever done mining, and with electricity prices here I am not sure it's worth the wear and tear on my GPU….wish it was.

Great guide, rather straight forward and seemingly no issues setting it up on one of my machines.

Bond: Always worth a quick shot see how it goes for a few hours then decide from there.

Arinoth: Thank you thought I would try and make this as simple as possible as most guides are extremely complex and scare most of the general public away

@Soullessone21:

Bond: Always worth a quick shot see how it goes for a few hours then decide from there.

Twist my arm…I will give it a shot. We will see.

Great quick guide you have done up. Easy enough to get setup.

Did you allow the 3rd party miner's in NiceHash (I assume you did, since mine only shows cryptonight as a mining device)? Does changing the service location matter?

I will run it for a little while and see how it goes….for now it is stable around 470-475H/s. It says that's good for $1.09USD a day. I wonder if I can get that up much, as I am not sure $1 a day is really worth it.

What card are you using? NiceHash is good for just setting and forgetting, but personally i prefer selecting the most profitable coin for your card, and using an open source miner and usually one of suprnovas pools. Also you can make much more this way, if you mine coins and hold them until their value shoots up instead of trading right away for BTC. For example, I started mining zcash when 1 coin was worth $80~, each coin is now currently worth $142 CAD. If I were to have sold my coins right away I would have lost out on around 80% more profit.

It's a 280X.

If I had a rig that was putting out big numbers, or had more time available I would go that route as well, but as of now it's likely going to be set it and forget it, or uninstall. However, if there is a specific miner that has been and you think may be good for a 280x I could give it a shot.

Before I went to sleep last night I saw daggerhasimoto was available as well (within nicehash), but I had to select it and benchmark it in the options. Nice hash was then selecting it for the most profitable.

Left it overnight and it is getting just under 12.5MH/s in that….estimating $1.33USD per day. Better...but still not amazing.

Still looking to know if anyone has allowed 3rd party miners in nicehash....much to be gained? Any issues?

Well…I am self answering my questions here. I decided just to try the 3rd party miners in nicehash. Ran all the benches on the new miners available, and it has now defaulted to equihash as the most profitable.

283 Sols/s giving around est $2.40USD a day. Massive gain. Maybe play with it more later today.

@Bond007:

Well…I am self answering my questions here. I decided just to try the 3rd party miners in nicehash. Ran all the benches on the new miners available, and it has now defaulted to equihash as the most profitable.

283 Sols/s giving around est $2.40USD a day. Massive gain. Maybe play with it more later today.

how is the mining going now? still making any money or did you stop already?

I decided to leave it go for a little while. Claymore equihash is the most profitable, though it seems like profitability is a bit lower now. Running about $2USD a day (I believe 0.001BTC per day if I recall correctly).

It's nothing crazy, but why not.

Well the first month has been a fairly solid beginning month. I made about 80$ CAD, mining full time on a K2200 and whenever I am not gaming on my GTX 980. I am hoping to pick up an AMD RX 570 whenever they are in stock OR a RX 560 if hash rates come out for them as they can be found at a great price.

A few questions.

Does the rest of the pc matter for mining I have a spare PC below?

MSI old 870-G45 (2 pci e slots)
AMD x3 450 3.2ghz
2x2GB ram
win 10 on HDD

Can I mix the cards up I have an R9 280x 3GB and R7 265 1GB that I can use to fill both slots, is that a problem?

Thanks.

@upcoast:

A few questions.

Does the rest of the pc matter for mining I have a spare PC below?

MSI old 870-G45 (2 pci e slots)
AMD x3 450 3.2ghz
2x2GB ram
win 10 on HDD

Can I mix the cards up I have an R9 280x 3GB and R7 265 1GB that I can use to fill both slots, is that a problem?

Thanks.

Great questions and as long as it's a ok single core or better you will be fine I mine on a am1 Sempron for a cpu with no issues at all.

Mixing cards is the best part of nicehash as it detects all cards and just runs.

My main rig has 2 1070s and a 290x where my main miner is a 1050 1050 ti 7970 and 950 all issue free.

If you need risers I can send you some as well as I have a garbage bag sized bag full of them haha.

Great post and welcome:)

@upcoast:

A few questions.

Does the rest of the pc matter for mining I have a spare PC below?

MSI old 870-G45 (2 pci e slots)
AMD x3 450 3.2ghz
2x2GB ram
win 10 on HDD

Can I mix the cards up I have an R9 280x 3GB and R7 265 1GB that I can use to fill both slots, is that a problem?

Thanks.

My CPU isn't loaded at all during mining. Just make sure your PSU can handle the max power draw constantly from the GPUs.

I tried to stack an HD6870 in with the R9 280x but drivers wouldn't allow it, today I might try putting the r7 265 with the 280x and see if the drivers allow that both are still supported where the HD6870 wasn't.

In case anyone else is wondering the r7 265 1GB generates $1.40ish usd a day and the 280x $3ish usd a day and lastly the FX8350 generates $0.77ish of a usd a day.

@upcoast:

I tried to stack an HD6870 in with the R9 280x but drivers wouldn't allow it, today I might try putting the r7 265 with the 280x and see if the drivers allow that both are still supported where the HD6870 wasn't.

In case anyone else is wondering the r7 265 1GB generates $1.40ish usd a day and the 280x $3ish usd a day and lastly the FX8350 generates $0.77ish of a usd a day.

not bad at all, I have not tried a 6xxx series in some time so that makes sense.

Thanks for sharing and again thanks for the great comments

Well, my last report.

I found that for whatever reason the HD6870 will not recognize in nicehash even by its' self.

So with the r7 265/ FX8350/ r9 280x it generates between $5-$6.xx a day using 491w-498w which will cost about $42 cdn for 30 days.

Thank you for the guide because I had no idea what I was doing and thanks to Arinoth for pointing out where to find the guide.

@upcoast:

I tried to stack an HD6870 in with the R9 280x but drivers wouldn't allow it, today I might try putting the r7 265 with the 280x and see if the drivers allow that both are still supported where the HD6870 wasn't.

In case anyone else is wondering the r7 265 1GB generates $1.40ish usd a day and the 280x $3ish usd a day and lastly the FX8350 generates $0.77ish of a usd a day.

I think if you use old drivers it would accept the 6870 and 280x. I highly doubt the CPU is worth the electricity for mining.

Is the 280x mining claymore equihash…after you start within nicehash?

No the old drivers didn't work either on its' own or with the 280x.

The way I figured the cpu is it costs $11 to power it and it makes $22.xx, so the way I'm looking at it is I spend 11 and get 22 back so I'm still up $11.

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