New user, can't get started

I have Mac 10.10.1 and Audacity 2.0.0. I just installed and set it up per instruction. When I hit record, nothing happens. The casette player is going but no waves or any recording is happening. HELP!

The current version of Audacity is 2.1.1, which you can get here:
What sort of cassette player is it? How is it connected to your computer?

If it is a USB cassette player, it should be connected to the computer before you launch Audacity, otherwise you will need to “Rescan Audio devices” (“Transport” menu) before Audacity can see the device. Then you need to select the device in the device toolbar.
See also these tutorials: