Getting started with bitcoin mining - Questions

[Depz]

Hi,

I know this might not be the best place for this question but thought I might be able to get some help from someone with some knowledge about bitcoin mining.

So I looked into bitcoin mining and it seemed very interesting and profitable.

I understand the fact that it requires a lot of patience to see some profit being made but my question is how much patience and how much profit.

I wanted to know what the best setup for bitcoin mining is, I heard that softwares are usually just scams but and hardware is what I should go for, I did some research and found Antminer S9i and Antminer S17 Pro.

I wanted to know much many bitcoins can be mined and in how much time, also what is the best hardware for mining the most bitcoins in a certain amount of time? Also, how many machines would I have to setup to see some profit coming in.

Also, does the internet speed and the power supplied to the machine matter? If it does matter, is it a big factor?

I also heard about pools and the memberships with them, what are the benefits of mining with the pool instead of mining directly to blockchain?

The Antminer S9 and S17 Pro is just something I found with some little research, I am sure there are more powerful devices in the market and I would like to know more about them.

Please advice me on the best steps to take.

Hope to see some replies soon.

Best Regards,

 

[Dessi]

Okay, stop where you are and check your local energy company's rates. I live in an area where the rates are too high per kilowatt-hour and therefore it isn't profitable. That is really what it comes down to first is energy.

 

[Depz]

If energy was not a factor, what would be the profits? I'm extremely new to this and would really appreciate some help.

The energy will be free as the place I am renting has no energy usage restrictions.

 

[TheGeForcePlug]

Hi,

I know this might not be the best place for this question but thought I might be able to get some help from someone with some knowledge about bitcoin mining.

So I looked into bitcoin mining and it seemed very interesting and profitable.

I understand the fact that it requires a lot of patience to see some profit being made but my question is how much patience and how much profit.

I wanted to know what the best setup for bitcoin mining is, I heard that softwares are usually just scams but and hardware is what I should go for, I did some research and found Antminer S9i and Antminer S17 Pro.

I wanted to know much many bitcoins can be mined and in how much time, also what is the best hardware for mining the most bitcoins in a certain amount of time? Also, how many machines would I have to setup to see some profit coming in.

Also, does the internet speed and the power supplied to the machine matter? If it does matter, is it a big factor?

I also heard about pools and the memberships with them, what are the benefits of mining with the pool instead of mining directly to blockchain?

The Antminer S9 and S17 Pro is just something I found with some little research, I am sure there are more powerful devices in the market and I would like to know more about them.

Please advice me on the best steps to take.

Hope to see some replies soon.

Best Regards,

Okay so Ill give you three reasons why you WILL NOT HELL NOT EVEN BE ABLE to make a profit
1. Since im assuming you would be doing this from home you will be using SOO MUCH FUCKING POWER that I wouldnt be surprised if your local provider cuts power from ur house lmfao. Even if you get a miner setup you will be in a negative since you wont be earning as much as power you are consuming
2.You need like atleast 50+ miners in order to make some what of a profit (this isnt even instant profit like it would still take a while)
3.You are like 3 years late. Its wayyyy to hard to mine BTC rn. If you still dont want to take my advice then go mine any other currency other than BTC.


Overall in the current state mining is not worth it unless you got like 100+ miners lol. If you watch a video on BTC mining (preferably one made within the past couple months) it will fully explain why you shouldn't mine.

 

[Depz]

Hi,

I have a warehouse where I worked and I have hired. These warehouses use up unbelievable amount of energy so no power will be getting cutting.

I really want to get into bitcoin mining and want to make profit. If energy was not a factor to worry about, will I be seeing profit with around 10 machines setup running 24/7?

 

[Blood]

I understand the fact that it requires a lot of patience to see some profit being made but my question is how much patience and how much profit.

Depends on the power of your miner. Better hashrate = quicker/more profit.

I wanted to know what the best setup for bitcoin mining is, I heard that softwares are usually just scams but and hardware is what I should go for, I did some research and found Antminer S9i and Antminer S17 Pro.

I'm not knowledgeable about mining setups but yes, go for ASICs such as Antminers. I can't recommend any specific model though. Also, mining software isn't necessarily always a scam but often it is and destroys your computer's hardware which is definitely not worth the very small amount earned.

I wanted to know much many bitcoins can be mined and in how much time, also what is the best hardware for mining the most bitcoins in a certain amount of time? Also, how many machines would I have to setup to see some profit coming in.

Depends on the hashrate. That's all I know.

Also, does the internet speed and the power supplied to the machine matter? If it does matter, is it a big factor?

I may be wrong but I don't think Internet speed is a big factor. Power supply and hardware specs are important.

I also heard about pools and the memberships with them, what are the benefits of mining with the pool instead of mining directly to blockchain?

These days, the only way to make any profit mining is by mining in a pool. Pools combine hashpower to mine blocks, get rewards, and split up the rewards.

I really want to get into bitcoin mining and want to make profit. If energy was not a factor to worry about, will I be seeing profit with around 10 machines setup running 24/7?

Yes. I would do further research yourself though. I wouldn't invest in mining machines without knowing exactly what you're getting into. I would delve deeper into this subject.

 

[Depz]

Depends on the power of your miner. Better hashrate = quicker/more profit.


I'm not knowledgeable about mining setups but yes, go for ASICs such as Antminers. I can't recommend any specific model though. Also, mining software isn't necessarily always a scam but often it is and destroys your computer's hardware which is definitely not worth the very small amount earned.


Depends on the hashrate. That's all I know.


I may be wrong but I don't think Internet speed is a big factor. Power supply and hardware specs are important.


These days, the only way to make any profit mining is by mining in a pool. Pools combine hashpower to mine blocks, get rewards, and split up the rewards.


Yes. I would do further research yourself though. I wouldn't invest in mining machines without knowing exactly what you're getting into. I would delve deeper into this subject.

Thank you so much for the information.

I am looking to setup around 10 Antminers S9. They are one of the best and mine around 14 trillion hashes per second.

I was wondering that if energy was not a concern. How much profit will I be looking at?

Also, the internet we currently have setup at the warehouse is only 35-40Mb/s. Will that be a problem?

Really hoping you can shine some light on my questions.

 

[Blood]

Thank you so much for the information.

I am looking to setup around 10 Antminers S9. They are one of the best and mine around 14 trillion hashes per second.

I was wondering that if energy was not a concern. How much profit will I be looking at?

Also, the internet we currently have setup at the warehouse is only 35-40Mb/s. Will that be a problem?

Really hoping you can shine some light on my questions.

I would Google your questions and read information and advice from those that are experts on this topic. I don't know much past what I've already told you