What is your overall experience with mining?
I just started recently. Maybe a month or so I still have a lot to learn. I've had a passive interest in bitcoin for a few years though.
What advice do you have to give to others interested in mining bitcoin?
Well I certainly wouldn't start out mining bitcoin which I think involves a massive investment in hardware. I would tell people to mine altcoins or more specifically mine with a user-friendly mining program like NiceHash which is what I'm using now or alternatively MinerGate. There may be others I'm not aware of. NiceHash pays out in bitcoin no matter which coin you are actually mining.
What precautions should beginners perform?
Start small and read up on forums. Research what the best mining GPU cards are and go from there. There are several mining profitability calculators available online.
What was the initial investment cost when you first started mining?
Well I already had the computer so with the new video card and couple other upgrades, about $250. Had I done a little more research I would have spent a little more and got a better video card.
Current ROI?
I plan on getting another rig up and running and factoring in that extra investment I'm guessing 18 months.
Lastly, why do you mine?
It's more of a hobby than anything. I'm obviously not going to get rich but I'm learning a lot about cryptocurrencies and blockchain tech. The entire industry is extremely fascinating to me. Exciting times!
RE: Minnow Mining Crypto Week #2