Post
Topic
Board Beginners & Help
Re: New bitcoins are mined?
by
mocacinno
on 03/07/2017, 13:05:19 UTC
Thanks, I finally understood a little bit better. Great simple explanation Smiley
I´d love to start learning about mining to earn money, but I have ZERO knowledge about computers, do you think it´s possible?

Sorry to be the one to give you the bad news, but nowadays, you cannot make money mining BTC unless:
  • you pay less than 6-7 cents/Kwu for your power
  • you live in a country with  low import duties
  • you have a budget of a couple thousand dollar
  • you have a naturally cool place, shelves, good power circuits, extra PSU's where a lot of noise isn't a problem
  • you have a basic understanding about how Bitcoin works
  • you have some technical skills (cooling, networking,...)
  • you're willing to invest a lot of time doing research, making plans, setting everything up, monitoring,...

If you had to answer "no" for one of the points above, i would not start mining BTC if i were you...
If you try mining altcoins, some of the above restraints might not be necessary... I've heared about people making profit mining altcoins while paying a lot more for their power, or starting from a much lower budget (for example)