16 Feb '14, 3am

Bitcoin Mining Basics & Why You Might Not Stand A Chance

Bitcoin Mining Basics & Why You Might Not Stand A Chance

Buy a mining rig – this is where your investment comes in, think of it as a seed investment in a startup that’s probably not going to take off so only spend money you’re okay losing. Butterfly Labs has some cool rigs as does Avalon , both have options to save some money but know that the more you save, the less Bitcoin’s you’ll be making each day. Join a mining pool – to effectively mine you need to join a pool, I won’t go into massive detail here just know that it’s essentially a group of people that have everything setup so you can just hop in and start mining. You can see a comparison of Bitcoin mining pools here . Setup your rig and install the mining software – every setup is a bit different but your mining pool can recommend the best software to work with them. You don’t need to be a coding guru to get things rocking but you will need to shell out the cash for a good...

Full article: http://morganlinton.com/bitcoin-mining-basics/

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