Mining Bitcoin is kind of like driving a car from North Carolina to California. In order to go farther in the faster and cheapest way possible a car needs to be: fuel efficient, powerful, and comfortable.
How does Mining work?
Therefore what has to be taken into consideration is the computer's hardware:
a. Is your computer running extremely slow while mining Bitcoin? The time it will take your rig to mine Bitcoin will be determined by the computers CPU, graphics card, or ASIC.
b. Is your computer running too hot while its mining? Mining can be demanding on your computer. Therefore you have to make sure you are maintaining your computer cool or that the parts you have can handle mining.
c. Is the cost of the electric bill more than you are making in Bitcoin? This is what ASICs or Application Specific Integrated Circuit were created for. They have been programmed specifically for mining Bitcoin the fastest way possible using the least amount of energy needed.
Thing to know to Start Mining.
bitcoinmining.com has a full blown tutorial that includes:
- the hardware you'll need to be an effective miner
- The software you'll need to mine Bitcoin
- Places to join a mining pool to help you mine faster.
- A quick tutorial on how to setup a Bitcoin Wallet where you will save your coins.
- Great ways to keep up with Bitcoin news to what to do with your coins.
- They also include a great video tutorial to help you understand how mining works.
John from 99Bitcoin video may also be a good source to consider when learn more about mining effectively.
Remember, I am not a financial adviser! Please don't forget to do your research before investing in anyting. If you are looking for a good source of knowledge try TIMM. TIMM is a secure place with professional analysts, traders, and investors looking to help new comers.
Happy mining, trading, and investing!