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Author Topic: Newbie to mining  (Read 423 times)
Bitcoin Dragon
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May 21, 2020, 05:06:09 AM
 #1

Hi all,

I've been around faucets for a long time but I am a complete newbie to the world of crypto mining. I am not interested in mining bitcoin or any of the other ASIC coins.

However am interested in getting into mining coins which can be mined by CPU and/or GPU.

What I can't find are any good tutorials on how to get software for mining and then set it up to mine some of the newly listed coins. Lets call it taking a punt that a new coin might end up successful after a few months to a year.

Anywhere I can find some good tutorials on how to set the software up on my comp so I can give this a go?

Thanks in advance all Smiley
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JayDDee
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May 21, 2020, 06:09:14 AM
 #2

My first piece of advice is learn as much as you can before spending any money. Any decent CPU,
except a laptop, is a good learning tool. If you're a gamer with a decent GPU you can also use that.
Don't expect to make any money, it's just a learning experience to start. But you can get an idea of how much
you could make and the cost if your were to scale up.

Mining advice is freely available, often by self serving shills. I tend to avoid it.

I'm not aware of any comprehensive tutorials so some digging might be required.

There is an abundance of mining software available, check the ANN threads in this forum. there is also a crypto mining blog
that promotes many of them. Some are free (as in beer) and open source, like the one in my sig. Others are still free but closed source
and some use some of your mining time to pay a developer fee. There are also a few scam programs to avoid that either collect a fee
for the work of others or are infected with malware. Stick with the ones from a known dev with a good reputation. Open source is
the safest.

Most miners have some documentation (a --help option at a minimum) but each pool has its own specific instructions.

There are also a number of miner manager programs that can automate many mining activities like monitoring profitability,
swicthing algos and selecting an appropriate miner. They are generally intended for larger mining operations and can be
intimidating for a newbie.

Do some research, play around, try some things and, most of all, have fun.

rikuu
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May 21, 2020, 01:49:58 PM
 #3

My advice to you is buy the coins you think have potential instead mining them.
Unless your electricity price is substantially lower than the majority, it is likely that you won't make money with CPU/GPU mining.

If you still want to go ahead, look at what you other people posted regarding their hardware hashrate and power consumption. Run the numbers, and subtract 50% of the theoretical profitability to be in a worst case scenario.

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rdluffy
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May 21, 2020, 09:18:44 PM
 #4

First of all, you should understand the risks and how much profits to expect before buying something

Here in this sub forum you can dig to learn a lot of stuff, there are tons of information here, and this is the best forum on the internet to find reliable informations

There are some channles on youtube that can help you a lot

Vosk Coin -  https://www.youtube.com/channel/UCT44w6854K62cSiwA1aiXfw

BBT - https://www.youtube.com/user/BitsBeTrippin

Red Panda Mining - https://www.youtube.com/channel/UCAGsnTCpw7pvhR4RAlEQGzg

It will be hard to start because there are a lot of unknow terms for newbies, but keep watching and reading and you will be able to make a choice if it's worth or not to mining

If you already have a PC with a GPU, you can download Nicehash miner and start to see how the programs work, how much you can earn, you can find the most popular miners etc

And you can count on us, we are here to talk about mining


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adaseb
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May 23, 2020, 06:35:20 AM
 #5

Go to

www.whattomine.com

Select the RX 570 and put in 30MH/s and using 135 Watts. Put in your local power costs. If its something positive like 5 cents, that's your potenetial profit for the day. Whether its worth it, is up to you.

You can find the RX 570 8GB for maybe $100 or so, second hand. Get 5 of these, add PSU, mobo, CPU,ram, SSD and your costs should be under $1000 for the rig.  With 5 of these GPUs with 5 cents profit each, you would make a quarter a day.


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ZeeeN
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May 25, 2020, 06:34:24 PM
 #6

you can try to mine cpu coin for learning about mining.

mining with vga or asic is not nice right now for newbie go to buy coin is better way.
Greatchu
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May 27, 2020, 06:21:26 AM
 #7

Hi all,

I've been around faucets for a long time but I am a complete newbie to the world of crypto mining. I am not interested in mining bitcoin or any of the other ASIC coins.

However am interested in getting into mining coins which can be mined by CPU and/or GPU.

What I can't find are any good tutorials on how to get software for mining and then set it up to mine some of the newly listed coins. Lets call it taking a punt that a new coin might end up successful after a few months to a year.

Anywhere I can find some good tutorials on how to set the software up on my comp so I can give this a go?

Thanks in advance all Smiley
Don't bother using complex software to mine coins, we have minergate and Nicehash that get things easily done, all you have to do is download either one of the two software on your desktop and start mining, everything is auto configuration

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May 27, 2020, 07:21:16 AM
 #8

For tutors you should go to YouTube and watch some videos, it's very helpful for me in the past and also I recommend using nicehash, all you will be asked for is your wallet address where you will get your coins sent to, very easy to use and it changes to the most profitable algorithm available without doing anything

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June 09, 2020, 11:53:06 PM
Last edit: June 20, 2020, 06:17:47 PM by togoshigekata
 #9

Checkout BiblePay coin, it is CPU Only mining with RandomX algorithm

You earn 190% mining revenue because you get both BBP and XMR (Monero) coins at the same time!

https://wiki.biblepay.org/RandomX_Setup

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