Bitcoin Forum

How to mine Bitcoin Cash(BCH)? Sorry fellas, I'm absolutely amateur in blockchain.

Can you tell me the reason why you want to mine a fork of Bitcoin? It is indeed on the top 50 coins according to market capitalization, whereas the competition to mine it will be high and it won't be easy for you to get the block rewards if you are a solo miner.

As you have mentioned that you are a newbie it is better for you to first do some research on mining cryptocurrencies. After you have done your research you should visit this website whatotmine (https://whattomine.com/) to understand which cryptocurrency is trending for miners and what are the block rewards that you will get. It's important to note that some of the coins listed on that website may be fake, created by scammers to take advantage of your hash power.

First, do your basic research about the kind of investment you need and the amount of electricity bill you will need to pay then venture into the mining ecosystem as a miner.

Since BCH relies on the SHA-256 algorithm with a hashrate of 4 EH/s and therefore you need ASICs to mine it, this is a list of the profitability of the most famous mining hardware https://minerstat.com/coin/BCH/profitability. Profits depend on electricity prices, and the higher they are, the more impossible it is to achieve profits.

why would anyone want to mine that shitcoin?

Unless wants dual mining, I don't think someone will think about buying miners to mine BCH, his budget may be limited, electricity is cheap and there is an opportunity to achieve profitability from BCH mining.

You can mine Bitcoin Cash the same way you mine Bitcoin because it’s just hard fork from Bitcoin blockchain.

IIRC, Roger Ver which is the founder of this shit coin was already arrested due to tax evasion case. I wonder if mining this coin is still appropriate if the founder which holds huge share of this coin is a nasty person.

You can use this guide to mine BCH: https://f2pool.io/mining/guides/how-to-mine-bitcoin-cash/

I think mining Bitcoin Cash (BCH) with a small scale unit comes with complexities and is not so simple as it sounds,. The r cost of electricity to run the hardware's coupled with  air conditioning system for continuous cooling to prevent overheating can make it impractical. Additionally the price of BCH is now around $430 which is relatively very low compared ton Bitcoin, the potential profitability of mining BCH is questionable. However, if you can manage to have free electricity through solar panels during the day time then it might be financially viable.

First off why would you want to.  It's not as profitable as others and you need a good amount of the most efficient ASICS with good electricity rates to make it worth your while.  And let's say you did have all of that why not just mine bitcoin?

First time seeing someone looking to mine BCH. Woow

OP there is a lot of information online if you want to get started. You only have to search it up.

A few kinks I have come a cross
1. https://cointelegraph.com/learn/how-to-mine-bitcoin-cash-a-beginners-guide-to-mining-bch
2. https://f2pool.io/mining/guides/how-to-mine-bitcoin-cash/
3. https://www.bitdegree.org/crypto/tutorials/bitcoin-cash-mining
4. https://www.binance.com/en/support/faq/how-to-mine-bitcoin-cash-bch-on-binance-67589b920ac3474aa4adea6575554c77

Some people would barely care about what's appropriate and what isn't if they are looking for profits, they would even mine a coin that might be associated with a platform that has scammed millions of people as long as they know they are going to get profit out of it. However, in OP's case, I believe he might have thought that since BCH isn't Bitcoin or as popular as it is, he might be able to mine it without having to buy ASICs which isn't true.

I'm not sure about the level of mining difficulty for BCH as I have never done any research on it, but if someone is going to buy mining hardware, they should rather try mining something that might be more profitable for them and wouldn't make them spend all the money earned on electricity being consumed.

While you stood to say you're still an amateur, I want to use that medium to let you know that mining is an expensive program and so also it's complex that requires exhobitant apparatus which many miners has regretted ever being in the mining pool.
Be let known that the profitabilities are usually not assured so that you don't just think you're bumping into an overnight or assured million dollars pool.
You can best go on research to satisfy your instincts.

Money I guess. I thought that people had already forgotten this. There are so many better to choose from and if there's no other choice, mine is to choose any other than this.

He founded that and supported it all along and AFAIK, tax evasion and tax fraud are two different cases. But he's into tax fraud: Early Bitcoin Investor Charged with Tax Fraud (https://www.justice.gov/opa/pr/early-bitcoin-investor-charged-tax-fraud)

Op got an answer already, but when did we move on to shaming people on what they mine? I know that most of old PoW altcoins and their mining have been replaced by flood of tokens and PoS these days,
but i really can't remember people shaming each other for altcoin mining before, and it's not like BHC was really a threat to bitcoin at any point, at least not anymore by being a "wrong" coin, so it's isn't even relevant hate target anymore than any other altcoin. Miners used to support anything with incentives, and these days i kinda weirdly respect people for mining without getting enough incentives (if we set aside power consuption in age of global warming)

And about that Roger Ver's tax fraud: Were people really surprised? I feel like majority of OG crypto people are libertarians and against reporting their bitcoin usage to government. I always felt like oddball in here for supporting the very idea of regulations in crypto and taxes in general. So calling him nasty for possibly just following generic cypherpunk ethos is like throwing stones in a huge glass house.

I can’t tell you everything step by step as the computer you have and the software you will use should be all up to you.

As I have already mentioned, you need to have a device meant for mining. It seems these days that you need some really powerful computers alongside a software. It’s pretty much all you need there. Just make sure to research properly as to not make any mistake.