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Author Topic: How to be A Good Miner  (Read 396 times)
Steamtyme
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January 17, 2019, 02:23:37 PM
 #21

If you are wanting to start mining here is what you need...and what you need to know

This is written for home miners/small farms, but can be used as a guideline for most operations. Use this post as a reference for what you need to research, or what questions you need to ask before jumping in.


Always nice to see some of my advice being passed along.

OP I'd definitely follow the quoted post. I wrote up that guide based on my experience to help others with questions such as yourself.

Apart from that the best advice I can give is don't dawdle on deciding how to proceed. Once you have done the research either go in or go another route. The longer you wait the less accurate all of your research is. Right now is a good time to get in assuming your situation is suitable. There is good gear on for a decent price for BTC right now. Here is a list of current competitive hardware

The best example I can give is that I got really interested in GPU mining October of 2017, took me until January to decide I was going to go for it, and by that time my costs nearly doubled to get set up. Not to mention the shipping delays.

Best of luck figuring out how to proceed


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Ripmixer
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dilaawe
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January 17, 2019, 03:36:49 PM
 #22

we want to more learing course  elecrity power is very high on my county i want to know how to connect with solar power
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January 17, 2019, 04:19:16 PM
 #23

The increase in the price of a coin will certainly impact the rising level of difficulty. Because many miners will switch to the crypto, even ASIC can also be included in it. There are three ways to choose mining pools that are often used and very profitable, including:
1. Single Coin Mining Pool, usually used to mine certain types of coins. Higher GPU hashrate like NVidia 1070 or 1080ti, this pool is very profitable.
2. Next is IPOMining, this pool is preferably new or low crypto which has not reached the peak price. Usually miners here are very few and the level of difficulty is still low. Coins from these mines can later be used to maximize profits by exchanging them into BTC, ETH, or saving until the price rises.
3. Multipool, is a pool that provides a mining platform. This platform allows miners to selectively mine crypto based on the highest profitability in real time.
chulos
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January 18, 2019, 08:12:33 PM
 #24

Mining itself is nothing complicated. You always choose what you want mining and what algo. By doing this, you select a miner and create a .bat file.
In it is the address, name, password, algo, and so on. This is the basis for GPU mining. If you need details, there is no problem.
I've been searching on the internet, but i'm looking at the BCT, too.

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mikeywith
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January 26, 2019, 11:37:17 AM
 #25

You are always better off just buying the coins instead of purchasing mining hardware.

this is wrong, how is it more profitable to have bought bitcoin for 10k instead of buying a few miners ?  also the price can go in side-ways market for ages, mining generate constant coins, hodling generate constant blood pressure.

this pretty much depends on many factors, different for everyone, but the exact statement of yours is very wrong to say the least.

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Artemis3
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January 27, 2019, 01:27:32 PM
 #26

You are always better off just buying the coins instead of purchasing mining hardware.

this is wrong, how is it more profitable to have bought bitcoin for 10k instead of buying a few miners ?  also the price can go in side-ways market for ages, mining generate constant coins, hodling generate constant blood pressure.

this pretty much depends on many factors, different for everyone, but the exact statement of yours is very wrong to say the least.

Why not diversify? Half on bitcoin, half on miners? Miners do need to be replaced, either by failure or obsolescence. Of course it makes no sense if your electricity is expensive that you end wasting more than earning.

Placing all your eggs in a single basket might sound attractive but the risk increases...

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BitBustah
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January 27, 2019, 02:33:44 PM
 #27

As others have already posted you will do much better financially if you just buy bitcoin instead of buying hardware.  Profit margins for mining have been shrinking and difficult has kept rising the past year even though the price falls.h
romelitounknown
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January 28, 2019, 07:39:38 AM
 #28

If you want to be a good miner you have to spend mire time learning and educating yourself on how to become a crypto miner. Read more blogs, watch more videos and engage in any crypto mining communities. Start to mine with the cheapest miner and learn from it.continue learning until you master it.
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