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I'm new to the field of cryptocurrencies.It seems that without good hardware i cannot earn anything.As a starter - is Gridseed Mini ASIC Miner a good choice to buy http://www.makeuseof.com/tag/gridseed-mini-asic-miner-review-and-giveaway/

Will it cost too much electricity? Can i make something out of it?

Please advice

  • Do you really think that the "device for printing money for everybody" exists? – amaclin Feb 21 '17 at 7:42
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No. It's old, slow and obsolete. Buy modern mining hardware instead.

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I got one of these pretty cheap last year just to play around with mining, and it's neat looking and wasn't difficult to get working once I found the right software, a custom fork of cgminer I think it was. It's too bad I burned it up when I took it apart and put it back together wrong. Anyway, you're never going to make any money on it mining bitcoin because it is truly obsolete, but it can also mine litecoin and it's more efficient at that, so depending on the exchange rate you might make a few pennies that way.

So if your object is to have fun, it's a neat toy and you'll learn a bit about mining and be able to say you've done it. On the other hand, if you're looking to make money or contribute to the network, you'll need something more modern.

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