Jun 19 2017, 08:38 PM, updated 8y ago
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
Cryptocurrencies Mining, Hardware,. Pool, software
Quote
Don't necessarily have to embed because embed takes up space. Can just put link.
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why ha?
, the more you use, the more they charge 
( except miner )
before we upgrade 
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