New starter: Mining Alts

[ramtahazara]

Hi Forum,

I'm new to this forum and completely new to mining however, I'm very keen on mining altcoins at home - In particular, ETH and LTC.

Can someone guide me in the right direction from start to finish i.e.

1) Competitive hardware required i.e. Mining rig/machine, GPU, AC to keep location cool
2) Electricity usage breakdowns and calculators
3) Mining pool suggestions

Would be great to get the ball rolling on this for alts. Look forward to your response guys 

[P00P135]

I wonder if there are any free consultants out there that have time to hold your hand instead of you doing your own research.   

[ramtahazara]

I wonder if there are any free consultants out there that have time to hold your hand instead of you doing your own research.   

I can only imagine that you held a few. We all start somewhere buddy!

Guys, please shoot across your suggestions - it will be really helpful to get the ball rolling.

Thanks

[btcltc4you]

I wonder if there are any free consultants out there that have time to hold your hand instead of you doing your own research.   

Wow! the newbie didn't really ask anything unreasonable.... this is a 'forum' after all.....
I still get people asking me every day "Where can I buy Bitcoin from" - I just tell them.. no skin off my back.

[styleshifter]

You need a GPU for ETH and an ASIC for LTC.

Maybe just start with your normal computer.
Add a GPU like AMD RX 5600XT or RX 5700 or NVIDIA GTX 1660 Super or RTX 2060 Super.

The Futurebit Apollo can mine LTC.
https://bitcointalk.org/index.php?topic=4974036.0

Then you need a wallet to store ETH and LTC.

For mining software, pools & calculators you can have a look at the app in my signature 

Take one of the biggest mining pools like ethermine.org for ETH and litecoinpool.org for LTC.

[leonix007]

I wonder if there are any free consultants out there that have time to hold your hand instead of you doing your own research.   

I can only imagine that you held a few. We all start somewhere buddy!

Guys, please shoot across your suggestions - it will be really helpful to get the ball rolling.

Thanks

Com'on guys, its not a big deal to help a newbs

btw, here's a good read bro, hope it helps

https://www.gpuminingresources.com/p/what-hardware-do-i-buy-to-start-mining.html

[JayDDee]

A bit of sarcasm maybe, but the point was valid. OP just registered today and first post was the most FAQ.
It's not that hard to google "how to mine ethereum"?

[ramtahazara]

You need a GPU for ETH and an ASIC for LTC.

Maybe just start with your normal computer.
Add a GPU like AMD RX 5600XT or RX 5700 or NVIDIA GTX 1660 Super or RTX 2060 Super.

The Futurebit Apollo can mine LTC.
https://bitcointalk.org/index.php?topic=4974036.0

Then you need a wallet to store ETH and LTC.

For mining software, pools & calculators you can have a look at the app in my signature 

Take one of the biggest mining pools like ethermine.org for ETH and litecoinpool.org for LTC.

Thanks styles - really useful info. With regards to pool fees for ETH, what are we approximately looking at?

[rikuu]

Thanks styles - really useful info. With regards to pool fees for ETH, what are we approximately looking at?

Whattomine has now pool fees and exchanges info at the bottom. You can have a look for ETH here: https://whattomine.com/coins/151-eth-ethash

[ramtahazara]

You need a GPU for ETH and an ASIC for LTC.

Maybe just start with your normal computer.
Add a GPU like AMD RX 5600XT or RX 5700 or NVIDIA GTX 1660 Super or RTX 2060 Super.

The Futurebit Apollo can mine LTC.
https://bitcointalk.org/index.php?topic=4974036.0

Then you need a wallet to store ETH and LTC.

For mining software, pools & calculators you can have a look at the app in my signature  

Take one of the biggest mining pools like ethermine.org for ETH and litecoinpool.org for LTC.

Thanks styles - really useful info. With regards to pool fees for ETH, what are we approximately looking at?

Whattomine has now pool fees and exchanges info at the bottom. You can have a look for ETH here: https://whattomine.com/coins/151-eth-ethash

great, thanks rikuu. With some regards to some of the GPU's mentioned above for ETH ^ what would the average power consumption (in watts) be if one was using a pc tower? I know usually wattage is usually outlined on miner spec

[rikuu]

great, thanks rikuu. With some regards to some of the GPU's mentioned above for ETH ^ what would the average power consumption (in watts) be if one was using a pc tower? I know usually wattage is usually outlined on miner spec

A home miner paying regular price for kWh, using a PC with a single GPU in it probably won't be making any money. A single GPU is around 150W-200W at the wall (depending on the GPU), and the rest of the PC adds around 50W on top of that.
Professional GPU miners uses PCs with 6+ GPUs so the added power is minimum, not to mention that their electricity prices are really good (doesn't make sense otherwise).

[ramtahazara]

great, thanks rikuu. With some regards to some of the GPU's mentioned above for ETH ^ what would the average power consumption (in watts) be if one was using a pc tower? I know usually wattage is usually outlined on miner spec

A home miner paying regular price for kWh, using a PC with a single GPU in it probably won't be making any money. A single GPU is around 150W-200W at the wall (depending on the GPU), and the rest of the PC adds around 50W on top of that.
Professional GPU miners uses PCs with 6+ GPUs so the added power is minimum, not to mention that their electricity prices are really good (doesn't make sense otherwise).

Perfect, thanks Rikuu. And regards to ETH mining hash rate, how much would the ETH mining hash rate be for one GPU? Just trying my best to get realistic figures here. My electricity is around 14p kWh. so that's around 17c

[rikuu]

Perfect, thanks Rikuu. And regards to ETH mining hash rate, how much would the ETH mining hash rate be for one GPU? Just trying my best to get realistic figures here. My electricity is around 14p kWh. so that's around 17c

A RX 5700 XT is around 55 MH/s. Not sure about NVIDIA GPUs.

[Stanlo]

Hi Forum,

I'm new to this forum and completely new to mining however, I'm very keen on mining altcoins at home - In particular, ETH and LTC.

Can someone guide me in the right direction from start to finish i.e.

1) Competitive hardware required i.e. Mining rig/machine, GPU, AC to keep location cool
2) Electricity usage breakdowns and calculators
3) Mining pool suggestions

Would be great to get the ball rolling on this for alts. Look forward to your response guys 

Since you are point to ETH and LTC in particular you will need powerful GPUs for ETH and of course Asic miner for LTC, forget AMD cards for ETH, NVIDIA is the best for mining Ethereum, I suggest cards like GTX1070 or the ti variants, just make sure the memory of the cards is from 4gig up