thought I'd share my xp
A few months ago, Bitcoin had a huge raise, I started mining using guiminer and bfgminer with slushpool(
https://slushpool.com/home/), mined bitcoins for a lot of time(i had like 750 hash/s).
I recommend guiminer for new BTC miners, it's simple and easy to use for newbs.
bfgminer is a little complicated, at least imo. But the yield I got from BFGMiner was a lot more than that of guiminer.
Many people fail to understand how mining actually works, before you even start getting involved in Bitcoins,
PRECAUTION: Investing/mining Bitcoins in many country is strictly illegal and is a federal crime. Investors can face years in jail. So look up before you start. But there are countries, like India, it's neither illegal nor legal. The government discourage the use of bitcoins, and they give no guarantee for those who suffer losses.
If you're looking to invest, you should probably prepare yourself for losses, since these stuff happen all the time.
Keep track of the prices, when you feel that bitcoins hitting a jackpot, it is then that you invest.
That's probably all about investing.
Mining. Which most of you can do, but no guaranteed success. You must remember most of these self-proclaimed "miners" are hoax, they provide you free satoshi's for every 10 minutes or each hour. DO NOT WASTE YOUR TIME WITH THESE. These are all fake, and these apps are produced by assholes who want to make money out of ad revenue on their sites.
You should remember that Satoshis or Bitcoins NEVER come for free(at least most of the times). If a miner by itself gives you free bitcoins, uninstall that app right away.
And how mining works? Simple, there are several companies in this world who are willing to pay your GPU(Graphical Processing Unit), how? Simple, your computers GPU solves a math problem(not kidding) for a specific company, who then pay you in small amounts. These small amounts start building up and you got a stack of satoshis.
Remember, your PC must have a GPU. PC's with APUs will not work, any apps claiming that they can mine with an APU system, is once again, a scam.
Pools: There are many pools, for you to mine bitcoins, how do these pools work?
It is actually the pool which solves a problem using your GPU, then this pool gives a "share" to you.
Why do they give me some and keep for themselves?
That's how the owner of a pool, makes money.
I've had great success with Slush's pool, I've mined about 20,000 INR in the past 3 months, (i.e about 320$), that too I used to mine for a couple of hours everyday. And I haven't mined bitcoins for like, the past 3 weeks.
If I'd just mined bitcoins 24/7 I'd have probably mined more than 1 Bitcoins by now.
Wallets: This is where the bitcoins you mined, are stored. I recommend Electrum to everyone, since it is trustworthy, that is all a wallet needs to have. (or the one Signal uses, seems pretty legit)
Mining bitcoins isn't as easy as it sounds. You might not find success in a pool you choose. And also note that, the greater GPU you have, the more you get paid.
Indians can make a lot of money out of Bitcoins if enough time and hardwork is given to it. Since Indian electric bills are effectively very low. The amount of profit you make is mind-blowing.
Any doubts, ask me below!
Happy investing/mining!