PREFACE

Today, there is very much a digital gold rush where people can make a small profit by investing a few hundred dollars in equipment, and then spend months mining for digital coins before any return on their investment sets in

What is this Mining thing?

mining are all about solving mathematical problems, which in turn act as raffle tickets. Each problem solved is called a 'proof of work' result, and counts as one raffle ticket Every time a predetermined quantity of proof-of-work results is generated, the system draws a raffle number, and one proof-of-work result is awarded a block of new coin.

Every miner who contributed to solving that particular block will get some kind of proportionate share of the rewards [pool]


How Cryptocoin Mining Works then?

The whole focus of mining is to accomplish three things:

1.Provide bookkeeping services to the coin network. Mining is essentially 24/7 computer accounting called 'verifying transactions'.

2. Get paid a small reward for your accounting services by receiving fractions of coins every couple of days.

3. Keep your personal costs down, including electricity and hardware.


Is It Worth It to Mine?

This is really subjective.
Currently, the entry cost is expensive, and parts are scare.
If you already have the hardware, u can mine as a hobby for a small change. $1-2 dollars a day. Mine and keep.
If you have the dough, good, go for the best spec u can get, granted u can find those GPUs

Some argues that, if one's objective is to earn substantial money as a second income, then you are better off purchasing coins with cash instead of mining them.


OK sure, tell me what i need to do to mine?

1. Wallet - software. Can open exchange Wallet (not recommended) or download multiple wallets like Jaxx

2. mining software package, u have Minergate, CGminer, Claymore etc.

3. Account in mining pool, which is a community of miners who combine their computers to increase profitability and income stability.

4. Online currency exchange, where you can exchange your virtual coins for conventional cash, and vice versa. Example poloniex.com.

5. A reliable full time internet connection

6. A desktop or custom-built computer designed for mining, called Mining RIG. Yes, you may use your current computer to start, but you won't be able to use the computer while the miner is running. A separate dedicated computer is ideal. Tip: Do not use a laptop, gaming console or handheld device to mine. These devices are not effective enough to generate income.
The GPU will be the workhorse of providing the accounting services and mining work. Obvious choice is NVIDIA and AMD

7. A house fan to blow cool air across your mining computer. Mining generates substantial heat, and cooling the hardware is critical for your success.

8. Personal curiosity. You absolutely need a strong appetite for reading and constant learning, as there are ongoing technology changes and new techniques for optimizing coin mining results. The most successful coin miners spend hours every week studying the best ways to adjust and improve their coin mining performance.


MAIN SECTIONS

1. HARDWARE - rig, motherboard, GPU, PowerSupply, Overclocking, Wallet
2. SOFTWARE - Mining software, OS, BIOS Mod, Optimization, Wallet, ASIC Miner, CBU Miners
3. Database - Hashrate actual, Mining Pool



This post has been edited by zamans98: Jun 20 2017, 12:43 AM

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Already got existing thread on this?

https://forum.lowyat.net/topic/4320604

I'm doing ETH mining on Azure using Ethminer with 2x Tesla M60s but the hashrate is like around the 30-40MH/s region. Is this considered expected ?

Edit ....i tot Microsoft Azure

This post has been edited by cofin: Jun 19 2017, 09:15 PM

parking first

It is that Azure

shhhhhhhhh nanti gomen tax u

Here are some videos I made related to mining ...........

------------------------

Getting Started with GPU Mining


Miners Guide 101 - Setting Up A Multi-GPU Mining Rig!


The Reality of GPU Mining


General Misconception of GPU Mining Income


4 GPU in a Mining Rig - Too HOT?


GPU Mining with ASRock H110 Pro BTC+ : Run 13 GPUs at once!

wow, that is good. how much you paid?

that one is general. this we only talk about mining. hardware, software etc.

Thanks alot for the initiative on this topic. Good to have a separate thread for Crypto mining. Hope it include Cloud Mining so we can move away discussion related to this from the main forum.

Parts are not exactly scarce, only the AMD cards are.

Nvidia cards still plenty around.

Also, see if my videos are alright to be used. Don't necessarily have to embed because embed takes up space. Can just put link.

*I can edit 1st post but I'd rather the TS do the changes*

Depends on how much you pay for it.

RX 580 - 30Mh/s
RX 470 - 21Mh/s
GTX 1050Ti - 12Mh/s
GTX 1060 6GB - 18Mh/s

I'm referring to the normal Mh/s of those cards, not cards that have BIOS modded and have speeds changed.

Try cuda friendly mining

40mh

Equal to about 3xmodded rx560
For your 2x Tesla m60

Which would consider very very very bad

quick typo error. what i meant was GPU both NVIDIA and AMD
A walk today in LOWYAT shows no capable GPU at a good price range.
everything now pre-order. one shop ask me MOQ is 60 units. WHATT?

Who want to get 6x1080 for mining?

That bad?

Anyway if people are getting GTX 1050 Ti, they can consider GTX 1080. Their efficiency level same when doing ZEC.

The better ones are the GTX 1060 6GB and GTX 1070.

I sold off my GTX 1070 last week so didn't get to test but new one should be in soon. GTX 1060 6GB on the other hand, it's here just that I haven't run it.

Last week when I was at Low Yat Plaza, cards are still plenty. You go 2nd floor TopMaid or Czone for example, still a lot.

Lelong also still have many Nvidia cards, they're not marked up like AMD cards and still do give good hash.