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Author Topic: Need basic info about mining!  (Read 642 times)
rayhankabir
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May 11, 2017, 05:28:46 PM
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Hello guys, i am a newbie member. Honestly saying, i couldn't earn a minimum idea about mining yet. You all are extremely requested to tech me mining (a to z).
 Advance thx everyone for your valuable reply.
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freebutcaged
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May 11, 2017, 05:57:11 PM
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How many ASIC machines do you have? are you planning to buy after you learned completely? IMO sooner you start mining the better.

Contact this member and ask for guidance because he's an expert with a high paying pool as well.

https://bitcointalk.org/index.php?action=profile;u=19971

RealSohan
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May 12, 2017, 01:55:09 PM
 #3

How many ASIC machines do you have? are you planning to buy after you learned completely? IMO sooner you start mining the better.

Contact this member and ask for guidance because he's an expert with a high paying pool as well.

https://bitcointalk.org/index.php?action=profile;u=19971
THANKS a lot for sharing this link
coinminer33085
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May 12, 2017, 04:13:16 PM
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I'd suggest you do a lot of reading on here before you start.
Snorek
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May 12, 2017, 08:11:10 PM
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Op, if you think that mining is good way to earning profits you might want to reconsider. It is true that you can mine some altcoins and still be profitable.
However it is known fact that you buy simply buy coins and wait it will probably be even more profitable.
I read about Chinese miner who bought mining equipment for $30000 and started to mine BTC, he needed to sell all mined coins regularly just to continue.
After some time he sold his ASICS and never reached ROI. Later he calculated that if he would simply bought BTC for that $30000 instead of mining he would be rich today.
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May 12, 2017, 09:38:57 PM
 #6

Hello guys, i am a newbie member. Honestly saying, i couldn't earn a minimum idea about mining yet. You all are extremely requested to tech me mining (a to z).
 Advance thx everyone for your valuable reply.

Mining on mining rigs, or on your pc?

If you are looking to mine altcoins with your pc, or your rigs, it might be worth to check out nicehash.com Their GUI is extremely user friendly, and everything is automatic.

They have a profit calculator + a good get me started where all the info you need is provided.

You won't get rich over night, and it also is not going to change your life, but it could be a good education lesson on how it all works..

Velkro
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May 12, 2017, 09:49:11 PM
 #7

I'd suggest you do a lot of reading on here before you start.
Agree of that 100%.
Lot of amateurs/bitcoin newbies want to start adventure with bitcoin with mining... this is so wrong, best way to loose money.
Don't start with mining, best investment is just to buy and hold.

Mike Mayor
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June 02, 2017, 10:05:12 PM
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Use a gpu rig and mine altcoins. Don't spend so much money on asic until you know what is going on and have the experience.
You can also rent rigs from miningrentals.com I think you should don't and learn about stratum settings and pools that way. Read altcoin s Bitcoiection andn mining section

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June 03, 2017, 01:36:17 AM
 #9

Mining can still be rewarding to the home miner if you use the returns from the mining wisely and make use of some of the exchanges and get into trading in the alt coin market.

You must factor in the electricity you will burn running a miner and work out exactly how much time you have to put into something like this.

There are some good resources you can look into also.

https://www.cryptocompare.com/mining/calculator




https://Investex.Pro  - Green Mining Operations & Mining Store...
cryptowillem
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June 03, 2017, 11:59:12 AM
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Are there websites where you can calculate if mining a coin is profitable for the short term?
I have around 28x r9 280x graphic cards running but i'm out of ideas which coin to mine!
Anzylon
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June 03, 2017, 01:48:26 PM
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Hello guys, i am a newbie member. Honestly saying, i couldn't earn a minimum idea about mining yet. You all are extremely requested to tech me mining (a to z).
 Advance thx everyone for your valuable reply.

Some basic stuff you need to know about mining is that, different types of cryptocurrencies use different type of algorithms for solving complex math problems, some of them can be mined with CPU, GPU , ASIC also HDD. To get a faster payout you join to any pool and pool is a group of machines(computers) who share their processing power over a network, to split the reward equally.A hard thing about mining is that most of the time you need to set up the miner using command line, if you find it hard to mine I suggest you to download Bytecoin wallet which does not require to set up anything, after synchronizing your wallet you will be able to choose the number of  CPU threads you want to use and mine just by clicking mine button which is found in the wallet software.

For more advanced mining you can create a rig of GPU's or buy ASIC or different type of miners which are created especially to solve complex algorithm, faster processing power = more money, but for a short time I would suggest you to start mining cheap currencies like ByteCoin.

Anzylon
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June 03, 2017, 01:54:34 PM
 #12

Are there websites where you can calculate if mining a coin is profitable for the short term?
I have around 28x r9 280x graphic cards running but i'm out of ideas which coin to mine!

http://whattomine.com I am not sure if it is allowed to share links here, but I would always suggest mining ETH for GPU users

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