<p>You don't need a second wallet to mine. You absolutely do not need bitcoin to mine bitcoin. You need an ASIC miner (with power supply), electricity and an internet connection. </p>

<p>They are scammers trying to steal from you.</p>

<p>If you want to mine then buy an ASIC miner. But be careful, there are also scammers pretending to sell miners.</p>

CC BY-SA 3.0
2018-02-01T14:46:39.350Z
Thank you very much!  My understanding is that the miners  yield the equivalent of approximately nine dollars a day. Would that’s be just one machine, or a bank of machines?
Andrea Petryk
CC BY-SA 3.0
2018-02-01T14:54:58.463Z
A mining estimator can be found at: https://www.cryptocompare.com/mining/calculator/btc  It shows a single, top-of-the-line, $4,000 dollar machine would earn about $7 per day. At current prices, it would take about 2 years just to recover the hardware cost.
abelenky
CC BY-SA 3.0
2018-01-31T07:42:47.577Z
2018-01-31T07:42:47.577Z
Dr.Haribo
<p>I am being invited to invest small amount of BTC. I am being asked to create second wallet. Is this legitimate?  I am trying to understand the mining process,  I did not think one needed to use bitcoin to mine more bitcoin. </p>

<p>I am trying to understand how this works, excuse my slow learning.</p>

<p>Thank you,
Andrea</p>

CC BY-SA 3.0
2018-01-31T03:12:47.363Z
Absolutely a fraud scheme.  It is nonsense and you will lose your bitcoin. Do not do it
abelenky
CC BY-SA 3.0
2018-02-01T14:43:48.930Z
Thank you so much!  Even though it has had some impressive activity, it’s like any other stock market. When it sounds too good to be true probably is.
Andrea Petryk
<wallet><mining-pools>
Second wallet needed to mine BTC?
Andrea Petryk
# Second wallet needed to mine BTC?

(Asked by: username_0 on 2018-01-30)

I am being invited to invest small amount of BTC. I am being asked to create second wallet. Is this legitimate? I am trying to understand the mining process, I did not think one needed to use bitcoin to mine more bitcoin.

I am trying to understand how this works, excuse my slow learning.

Thank you,
username_0

**Tags:** wallet, mining-pools

> **Comments:**
> **username_1**: Absolutely a fraud scheme.  It is nonsense and you will lose your bitcoin. Do not do it  
> **username_0**: Thank you so much!  Even though it has had some impressive activity, it’s like any other stock market. When it sounds too good to be true probably is.  

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## 1 answers

### Answer by username_2 on 2018-01-31. Score: 1

You don't need a second wallet to mine. You absolutely do not need bitcoin to mine bitcoin. You need an ASIC miner (with power supply), electricity and an internet connection.

They are scammers trying to steal from you.

If you want to mine then buy an ASIC miner. But be careful, there are also scammers pretending to sell miners.

> **Comments:**
> **username_0**: Thank you very much!  My understanding is that the miners  yield the equivalent of approximately nine dollars a day. Would that’s be just one machine, or a bank of machines?  
> **username_1**: A mining estimator can be found at: https://www.cryptocompare.com/mining/calculator/btc  It shows a single, top-of-the-line, $4,000 dollar machine would earn about $7 per day. At current prices, it would take about 2 years just to recover the hardware cost.  

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