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Author Topic: What is mining and how do you do it?  (Read 1316 times)
mayo2u
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December 14, 2017, 04:29:58 PM
 #21

Just for info, can you elaborate on the topic?

Can any one Mine? Or it is done only by pros?

Does it require a certain computer system


Since big companies are investing on it

Mining is any more  not profitable for individuals


you will lose your time

I disagree completely. You can mine ASIC resistant coins with your GPU.  Let's assume you already have gaming computer. At times when you are not using it for gaming you can mine any number of coins - BTC, Monero ... and make money.  Now you won't make much but you will most certainly make more than you spend in electricity. My estimate is that you can make back the cost of your GPU in 7-8 months or so,

The real purpose of this is not to gather riches but to have a more indepth feel of how this crypto world works. You can invest in more GPUs now you've created a second job, your apartment will be noisy, not look as good (see images of rig porn) and your girl friend / wife will not be happy.

neverluckymofo
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December 14, 2017, 04:32:05 PM
 #22

Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place. I do not think that mining is very feasible unless the electricity cost are low wherever you are farming at. Nonetheless, good luck in your venture.
krisjoygallatiera
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April 09, 2018, 09:52:35 AM
 #23

Mining is the process of using a computer to perform complex calculations on blocks of data which maintain the Bitcoin network. Miners are rewarded for their efforts with a certain amount of Bitcoin cryptocurrencies.

Bitcoin (BTC) is fast becoming the province of people using specialized ASIC (application-specific integrated circuit) devices, although if you have one or more powerful graphics cards you may still be able to generate a small profit by assembling your own mining device.

The actual profit you make will depend on a number of factors. The first is your 'hash rate' – in other words, the actual processing power of your machine. Computers designed for mining, or 'rigs' as they're commonly known, require large amounts of electricity, which will increase running costs.
wandino
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April 09, 2018, 12:07:25 PM
 #24

I believe you have got your answer from other posts. One important thing to be aware of is cryptojacking software, which runs a script on your machine and uses your processing power to mine cryptos.
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