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  1. #1
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    Post Guide mining for beginners

    Guide


    Mining for beginners


    First off I'd like to say hello fellow crypto crows and welcome to my complete guide from buying building and finding what coins you should mine. I will say that i only have 4 months in this space but I've researched as much as I can and I figured I'd share.When starting out here are a few terms you'll hear when referring to crypt mining. I do own a PC company so i have a lot of experience with computer hardware.


    Mining Definitions

    ROI - Return on investment "how long will you have to mine to be mining for profit."

    Hash-rate - Hashrate is the speed at which a block is discovered and the rate at which the related math problem is solved.

    ASIC Miner- Application Specific Integrated Circuit is, is a chip specifically created to execute one task. An example of one such model is an ASIC miner created to ONLY process SHA-256, which is the problem offered by the Bitcoin block chain to mine new coins.

    Block-Blocks are essentially pages in a ledger or record keeping book. Blocks are the files where unalterable data related to the network is permanently stored.

    Block Reward -Block reward is the reward allotted for hashing, or solving the mathematical equation related to a block. The reward for mining a Bitcoin block is 25 bitcoins per block mined.



    Building your rig.


    Do you research on what cards your interested in buying. There are many options but most of them are very overpriced as of right now. If you looking for used be very cautious as well. Its very labor intensive for hardware to mine. It causes a lot of heat and if overclocked incorrectly it might still work but cards can have slower hash rates then when first purchased. When comparing cards use these websites to calculate your ROI.

    www.whattomine.com - if you need any help with this website pm me and I'd be glad to help

    www.outervision.com/mining-rig-builder - This website is cool for finding hash rates and finding compatible parts

    www.newegg.com - newegg gets shipments on Tuesdays and Fridays of new cards. They start updating their stock around 8am pst

    www.amazon.com - Be careful on amazon. sometimes you can find good deals but there is a lot of price gouging right now.

    www.nowinstock.net - Sign up for stock notifications for emails or texts for when new cards come in.

    Okay so once you figure out how many cards your going to have in your rig its time to figure out what power supplies your going to need to run them. Some rigs need 2 just depends on how many cards you have.


    Power consumption not overclocked


    1060's - 89-143W
    1070's - 78-145W
    1080's - 100-180W
    RX 570 - 90-225W
    RX 580 - 150-225W
    Motherboard - 75W from mobo + 75W from 6pin + 150W from 8pin so MAX: 300W

    So for example i'll build a 6 card 1060 rig for you.

    6x143W = 858W +75W from the mobo +75 from 6pin + 150W = 1,158W so you could buy 2 750W Power supplies.

    Make sure the amount of pci slots on the motherboard you buy are enough to support all of the cards your buying.Now when buying a processor there is no need to go out get the best I7 on the market. You can cpu mine but its no where near as profitable as gpu mining so try and cut some cost down and buy a cheap processor that is the correct socket for your motherboard. There is also no need for a huge hard drive. You can run windows on 20GB of space although you want at least 150GB in my opinion. you will also need at bare minimum 1GB of ram. Make sure your motherboard is also complaint to that. After that you want to find what riser cards your going to use. Riser cards are extensions of the pci slot on the motherboard. They make it so you can fit more then 2 cards on a motherboard and help you spread out your cards so they don't overheat. And a last note you can build a mining frame for relatively cheap and buy a couple pc fans and save 75-250$ if your feeling crafty. people have also re-purposed 7 dollar shoe racks. Just make sure its big enough to get good separation between cards because those suckas get hot.

    Mining Software


    Okay so you have your rig built all your graphics cards are recognized and stably overclocked. You've looked at www.whattomine.com and chosen the coin you want to mine. For beginners the easiest way to start mining is by using a program called Nicehash. All it takes is a visit to www.nicehash.com and click the download button under sell. That will download the software. Then you have 2 choices. You can make a wallet on nicehash by clicking register or you can use an external wallet. I would use the nice hash wallet because payout rates are much faster {0.001 btc compared to 0.01 btc if you use an external.} Nice hash has some really cool features that not many other mining programs have. One being you can transfer straight to coinbase without a transfer fee and the other being its multi algorithm platform. This means the program automatically picks from all of the algorithms and finds the most profitable one for that specific time. It also converts those straight into btc. The setup is easy though all you do is put either your external wallet into the wallet section or you can use your nice hash account email. Then you need to click on workers and do a benchmark. Basically all that does is check your cards performance mining different algo's and then shows you your daily output for each of them. After that your setup. All you need to do is put on your mining cap and press start.





    I will continue to edit and add things to this post as i gain more knowledge in this ever chaning cryptospace. Thanks for reading and have a nice night.
    Last edited by SeanyBoDangles; 02-25-2018 at 12:50 AM.
    "The crow does not hide its prey, but calls for others to share it; So wealth will be with those of a like disposition."
    Thiruvalluvar

    Myethwallet: 0x7e6D02587A766688482f795EE848E30cC63667F4
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  2. The Following 2 Users Say Thank You to SeanyBoDangles For This Useful Post:

    deadcountry (03-04-2018), SierraRhino (03-06-2018)

  3. #2
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    I have also read that if you open a google account: console.cloud.google.com/freetrial (start a new account)
    And then install: https://github.com/nicehash/NiceHash...egacy/releases

    It is essentially free money. I'm trying to determine if this is valid now, but wanted to share.
    __________________________________________________

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  4. #3
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    I found this in their terms and conditions, not sure if they actually enforce it though.

    "2.2 Customer may not use the Services to engage in mining cryptocurrency;"
    0x4D25F39902594882311809c824031ce44Ccb8ef7

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    Thanks and welcome to the forums Seany
    ETH: 0x91A5a2741008Be3D89EF29fc4A34E6eFA6F253eA

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  6. #5
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    No problem deadcountry. where in colorado are you? im in windsor.
    "The crow does not hide its prey, but calls for others to share it; So wealth will be with those of a like disposition."
    Thiruvalluvar

    Myethwallet: 0x7e6D02587A766688482f795EE848E30cC63667F4
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  7. #6
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    Quote Originally Posted by SeanyBoDangles View Post
    No problem deadcountry. where in colorado are you? im in windsor.
    Englewood. Salida in a year or two hopefully. We'll have to meet up for a beer, or coffee. let me know.
    Last edited by deadcountry; 03-04-2018 at 08:02 PM.
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  8. #7
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    yeah that sounds good to me i love talking crypto. my wifes not into it though lol she could care less.
    "The crow does not hide its prey, but calls for others to share it; So wealth will be with those of a like disposition."
    Thiruvalluvar

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    cool pm me, you probably know the area better so pick a half way point and let me know.
    ETH: 0x91A5a2741008Be3D89EF29fc4A34E6eFA6F253eA

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    Due to the increasing difficulty of mining, it began to form pools of the association of miners. A miner needs to find the digital signature for the closure of the unit if they want to get a reward. In solo mode, even a powerful farm will take a long time to do it. So, there are the pools like ICO Pulse, which unite miners.

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    I am trying to find a good web browser miner with the highest mining ratio, so can anybody help me with that? I've heard that this one is really popular, is it really that good? Or you can advise me something better?

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