Mining! How and What?

[BrokenAngel]

Hi everyone. I am Broken Angel, I like a lot of people out there I would love to mine Altcoins. Before I start a little bit about myself. I am from India and I have into Info-sec for the past 9 years now. I've had an on and off relationship with internet and I was barred for a period of 3 years to use any computer whatsoever. I recently completed my CEH and CCNA and am into crypto investment a lot. I love music and am a 420 fan

Hope this forum is for adults :p I have been Mod and Super Mod (I hope that this status still is used) in many forums back in the day when Orkut started for the first time. I am a big fan of EDM and I also love to have Vegetarian food. Enough about myself.

Now I was gong through the Forum and I was awestruck by the amount of information we have in here. I am a total n00b as to what are the requirements and what is the time needed for mining and also am aware that this question has been posted like a millions times already.

But please help me with

1. what to mine and how to mine and what to expect. (I am unclear on where to start)
2. I also want to know how to find out the hash rate of a device.
3. How does diff device work better with diff altcoins
4. Suppose I start mining coin 'A' and then I want to mine coin 'B'. Is it a good thing to switch? Is is even possible to switch like this?
5. Is it a decent investment if I want to put in $10,000/- for mining. I will go for a Solar Plant setup and this is all included in the budget.


Thanks in advance and I hope that this is again a forum what it used to be 6-7 years ago. I loved the forum culture back then.

[zij]

I would suggest that you sit down for a day and just read the forum to get answers to your questions as they have been asked numerous times.  You will also learn a lot more as well as information beyond the answers to your questions.

[BrokenAngel]

I would suggest that you sit down for a day and just read the forum to get answers to your questions as they have been asked numerous times.  You will also learn a lot more as well as information beyond the answers to your questions.

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.

Yes i understand how blockchain works. I was and am still going through the forum but if anyone can point me in the right direction it would be so kind of them.

[jillscarbrough]

1. what to mine and how to mine and what to expect. (I am unclear on where to start)

Started from you reading about Mining types (like Mining use hardware or Cloudmining), Pools of Mining.

2. I also want to know how to find out the hash rate of a device.

2. you can go to this : https://whattomine.com/

4. Suppose I start mining coin 'A' and then I want to mine coin 'B'. Is it a good thing to switch? Is is even possible to switch like this?

4. Yes, maybe if you think a coin 'A' profit is low than a coin B.

[BrokenAngel]

1. what to mine and how to mine and what to expect. (I am unclear on where to start)

Started from you reading about Mining types (like Mining use hardware or Cloudmining), Pools of Mining.

2. I also want to know how to find out the hash rate of a device.

2. you can go to this : https://whattomine.com/

4. Suppose I start mining coin 'A' and then I want to mine coin 'B'. Is it a good thing to switch? Is is even possible to switch like this?

4. Yes, maybe if you think a coin 'A' profit is low than a coin B.

Reagrding Question 1 I will go for the use of Hardware and than maybe pool later. I don't have any plans for going for Cloud Mining whatsoever.

2. Thanks for the source. Also if you can enlighten me about the temp and clocking the device? I have read somewhere that the clocking to device also effects whattomine (You see what I did there? No, Ok I will stop) 
4. My point in this question was what changes will I have to make if i want to shift from one coin to another.

[huntingthesnark]

1. what to mine and how to mine and what to expect. (I am unclear on where to start)

Started from you reading about Mining types (like Mining use hardware or Cloudmining), Pools of Mining.

2. I also want to know how to find out the hash rate of a device.

2. you can go to this : https://whattomine.com/

4. Suppose I start mining coin 'A' and then I want to mine coin 'B'. Is it a good thing to switch? Is is even possible to switch like this?

4. Yes, maybe if you think a coin 'A' profit is low than a coin B.

Reagrding Question 1 I will go for the use of Hardware and than maybe pool later. I don't have any plans for going for Cloud Mining whatsoever.

2. Thanks for the source. Also if you can enlighten me about the temp and clocking the device? I have read somewhere that the clocking to device also effects whattomine (You see what I did there? No, Ok I will stop) 
4. My point in this question was what changes will I have to make if i want to shift from one coin to another.

2: temp and clocking depend on exactly what 'device' you're talking about - ASIC, GPU, CPU are all very different, but could be used to mine, depending on what algo you're aiming at. Each GPU has it's own optimum clocks, which you'll have to test.
4: Ditto. Depends what hardware you're running to begin with. Might be as easy as clicking a toggle in your pool settings, or might need you to trade/buy a coin that you can't mine with your hardware (eg: you have a gpu farm but want BTC). Switching is all very well, but there are many hidden variables, such as pool payout levels, time taken to setup and optimise, and the fact that yesterday's great idea might be todays awful one, because everyone else has done it too.

[BrokenAngel]

1. what to mine and how to mine and what to expect. (I am unclear on where to start)

Started from you reading about Mining types (like Mining use hardware or Cloudmining), Pools of Mining.

2. I also want to know how to find out the hash rate of a device.

2. you can go to this : https://whattomine.com/

4. Suppose I start mining coin 'A' and then I want to mine coin 'B'. Is it a good thing to switch? Is is even possible to switch like this?

4. Yes, maybe if you think a coin 'A' profit is low than a coin B.

Reagrding Question 1 I will go for the use of Hardware and than maybe pool later. I don't have any plans for going for Cloud Mining whatsoever.

2. Thanks for the source. Also if you can enlighten me about the temp and clocking the device? I have read somewhere that the clocking to device also effects whattomine (You see what I did there? No, Ok I will stop) 
4. My point in this question was what changes will I have to make if i want to shift from one coin to another.

2: temp and clocking depend on exactly what 'device' you're talking about - ASIC, GPU, CPU are all very different, but could be used to mine, depending on what algo you're aiming at. Each GPU has it's own optimum clocks, which you'll have to test.
4: Ditto. Depends what hardware you're running to begin with. Might be as easy as clicking a toggle in your pool settings, or might need you to trade/buy a coin that you can't mine with your hardware (eg: you have a gpu farm but want BTC). Switching is all very well, but there are many hidden variables, such as pool payout levels, time taken to setup and optimise, and the fact that yesterday's great idea might be todays awful one, because everyone else has done it too.

2. I will be using GPU for mining and won't go for Bitcoin as I feel that it is already too crowded to be of any good. Also I have read that AMD is better than nVidia as it is cheaper and good for coins like Ether/Ripple (Sorry for taking names )

4. I will be using GPU and won't be joining a pool any time soon. I don't know that many people and I don't trust websites that much as well. Also I don't want to wait for my payouts and risk the fact that there are a lot of players who don't give you the payout when it is time. I would love to look into the toggle thing, please guide me with any resource if you can for the same. Me is saying this is because I don't want to be stuck with today's great idea which eventually turned into tomorrows' blunder

Thanks in advance.

[deadsix]

Read till you are too tired to read, and then read some more. Then watch videos in your time off from reading. There are several articles/videos detailing a ground-up approach, start there.
Then ask informed questions here on the forums when you have some background info and enough knowledge to form a specific question about a specific problem, and we will help.
Then get into building mining rigs and when in the process you actually stuck (just like everyone does) ask for help here, and the good people of this forum will help.
But if you want someone to collate all information and serve it to you on a platter, sorry, the internet's changed in the years since you've been gone

[huntingthesnark]

1. what to mine and how to mine and what to expect. (I am unclear on where to start)

Started from you reading about Mining types (like Mining use hardware or Cloudmining), Pools of Mining.

2. I also want to know how to find out the hash rate of a device.

2. you can go to this : https://whattomine.com/

4. Suppose I start mining coin 'A' and then I want to mine coin 'B'. Is it a good thing to switch? Is is even possible to switch like this?

4. Yes, maybe if you think a coin 'A' profit is low than a coin B.

Reagrding Question 1 I will go for the use of Hardware and than maybe pool later. I don't have any plans for going for Cloud Mining whatsoever.

2. Thanks for the source. Also if you can enlighten me about the temp and clocking the device? I have read somewhere that the clocking to device also effects whattomine (You see what I did there? No, Ok I will stop) 
4. My point in this question was what changes will I have to make if i want to shift from one coin to another.

2: temp and clocking depend on exactly what 'device' you're talking about - ASIC, GPU, CPU are all very different, but could be used to mine, depending on what algo you're aiming at. Each GPU has it's own optimum clocks, which you'll have to test.
4: Ditto. Depends what hardware you're running to begin with. Might be as easy as clicking a toggle in your pool settings, or might need you to trade/buy a coin that you can't mine with your hardware (eg: you have a gpu farm but want BTC). Switching is all very well, but there are many hidden variables, such as pool payout levels, time taken to setup and optimise, and the fact that yesterday's great idea might be todays awful one, because everyone else has done it too.

2. I will be using GPU for mining and won't go for Bitcoin as I feel that it is already too crowded to be of any good. Also I have read that AMD is better than nVidia as it is cheaper and good for coins like Ether/Ripple (Sorry for taking names )

4. I will be using GPU and won't be joining a pool any time soon. I don't know that many people and I don't trust websites that much as well. Also I don't want to wait for my payouts and risk the fact that there are a lot of players who don't give you the payout when it is time. I would love to look into the toggle thing, please guide me with any resource if you can for the same. Me is saying this is because I don't want to be stuck with today's great idea which eventually turned into tomorrows' blunder

Thanks in advance.

2) Good, GPU won't mine BTC or Ripple (for different reasons). What are you planning to mine? That will dictate whether AMD or Nvidia is 'better'.
4) Um, well, if you don't want to use a pool you'll be solo mining, no toggles. No payouts unless you hit a block either.

Basically, you'll need to get Googling - most of the answers are out there, you just need a step-by-step approach. Suggest starting at the difference between solo mining and pool mining, and the various algos you can mine with GPUs.

[BrokenAngel]

Read till you are too tired to read, and then read some more. Then watch videos in your time off from reading. There are several articles/videos detailing a ground-up approach, start there.
Then ask informed questions here on the forums when you have some background info and enough knowledge to form a specific question about a specific problem, and we will help.
Then get into building mining rigs and when in the process you actually stuck (just like everyone does) ask for help here, and the good people of this forum will help.
But if you want someone to collate all information and serve it to you on a platter, sorry, the internet's changed in the years since you've been gone

No one is asking for a platter my dear friend. I was asking for some decent resources and still am, so that I can go through them and get myself ready. Any good link where I can find some genuine info (which is not paid for) will help me. 

[flip4flop]

As most of the users have stated spend a week reading everything you can to introduce you to everything mining related.  The more you read up front the less mistakes you will make when you start buying parts and setting up your first mining rig. Below are a few links that might help you out that are geared toward a newbie setting up their first rig.  I would recommend you start with NVIDIA if you are new to the space and computer tweaking as AMD cards require a bit more work to optimize to get the most out of them when it comes to mining.

Part 1
https://theminerhub.com/mining/newbie-guide-building-6-card-crypto-currency-mining-rig-part-1-decision-time/

Part 2
https://theminerhub.com/mining/building-a-mining-rig-part-2-hardware/

Part 3
https://theminerhub.com/mining/newbie-guide-part-3-amd-edition/