I need some bitcoin information

[crowe]

Hello I have heard a lot about bitcoin thought it was more of a fad so didn't bother with it but at this point I'm thinking its here to stay at least for a little while so here are my questions

1. I've found a few guides but they were pretty vague at certain points of setup does anyone know of a well written descriptive guide on setup and mining etc.?

2. I have nearly 100 computers at my disposal [I own a shop where I sell and repair computers] so I am wondering how many computers or how much computing power does a pool require to make decent money via mining]

3. is there a lot of hands on work when doing this.

4. about how much can I expect to make on a [weekly/monthly how ever long it takes to mine bit coins] [if I had to guess if I averaged out the computing power over all on my computers it would average out to probably each one being 3ghz quad core with about 6gb of ram

 

[Distinct01]

Hello I have heard a lot about bitcoin thought it was more of a fad so didn't bother with it but at this point I'm thinking its here to stay at least for a little while so here are my questions

1. I've found a few guides but they were pretty vague at certain points of setup does anyone know of a well written descriptive guide on setup and mining etc.?

2. I have nearly 100 computers at my disposal [I own a shop where I sell and repair computers] so I am wondering how many computers or how much computing power does a pool require to make decent money via mining]

3. is there a lot of hands on work when doing this.

4. about how much can I expect to make on a [weekly/monthly how ever long it takes to mine bit coins] [if I had to guess if I averaged out the computing power over all on my computers it would average out to probably each one being 3ghz quad core with about 6gb of ram

1. If you had 100 computers, and none of them have the mining equipment, you won't be making any BitCoins [BTC for short]. A person can have 1 computer with above-average specs, and still be earning 10,000x more than your 100 computers IF he has the miner (500 GH/s++)

2. BitCoin mining equipment is VERY expensive. In order to even consider profiting, you'd have to order the latest miners that are in existence today. Here are 2 websites that sell top-quality gear : http://cointerra.com/ and https://www.kncminer.com/ .

3. If you have the miner, all you have to do is make sure it's running smoothly for 24/7, and your computer & the equipment don't overheat. You'll need good fans for this.

4. A famous pool used by Miners is https://www.btcguild.com/. They generate lots of BTC.

5. It's quite late in the stage for someone to jump in, unless he's prepared to spend lots of $$. Currently slightly more than half of all BTC's in existence have been mined out, and it only gets harder. Not to mention, with the shipment of KnC expected soon, the difficulty will increase TREMENDOUSLY. I don't mean a significant amount , I mean HUGE.

 

[Distinct01]

Oh, and if you didn't know, watch out for the fire-sale by the FBI on Ulbricht's stash. Demand for BTC will hike up, and more miners will get in hoping to strike it rich. If you're really serious about going into mining, I suggest getting your hands on the $5,000+ equipment quick.

'The early bird catches the worm'. In this case, BTC's & $$

 

[funbox]

Oh, and if you didn't know, watch out for the fire-sale by the FBI on Ulbricht's stash. Demand for BTC will hike up, and more miners will get in hoping to strike it rich. If you're really serious about going into mining, I suggest getting your hands on the $5,000+ equipment quick.

'The early bird catches the worm'. In this case, BTC's & $$

last time i checked, leaving a bit coin miner/specialised pc running 24/7 costs more in electricity bills then you make back in bitcoins

correct me if i'm wrong but that's what i've read on articles.

 

[Pockets]

last time i checked, leaving a bit coin miner/specialised pc running 24/7 costs more in electricity bills then you make back in bitcoins

correct me if i'm wrong but that's what i've read on articles.

This is the case unless you have extremely specialized mining equipment.

A year or two ago you could have made pretty good money using the 100 computers, especially if they have GPUs. Unfortunately, that time is passed.

 

[Distinct01]

last time i checked, leaving a bit coin miner/specialised pc running 24/7 costs more in electricity bills then you make back in bitcoins

correct me if i'm wrong but that's what i've read on articles.

If you have powerful equipment and a capable pool of miners, you will actually earn a lot. However, in today's state, it's tough for everyone, and especially so for the small fries. I remember when a 20 GH/s could earn you $10 clean profit per day after factoring in all the overheads and stuff.

 

[crowe]

ok thanks guys I was hoping it came down to just how much computing power you gave to the miner so I think I'll just stick to my bot farms its a bit of work but it holds true anyways thanks for all the information guys this topic can be closed.

 

[Raptor lx]

The time has really passed for Bitcoins, unless you're willing to invest a large chunk (several tens of thousands), there's no point in trying to set up a Bitcoin mining farm as the overheads will leave with, at best, a tiny profit, and at worse, a significant net loss. Couple that with the fact that BTC mining is getting hard as time goes on, it's really not worth it. Perhaps mining LTC/other crypto-currencies is, I'm not all that sure, as I prefer to stick to BTC.