Bitcoin/altcoin miningÂ voodoo
Mining altcoins this way can be very frustrating but if you are the kind of person who likes an interesting challenge then it can also be a lot of fun and potentially quite profitable.If you want to go down this road, be aware that you will need to be very motivated, have fairly strong technical skills and be great at problemÂ solving.Three mining rigs that we built to mine Litecoin and Dogecoin in the first Bitcoin Brains store in 2013/2014.[ To Changellys Unocoin Namaste New Partner Say]
Keeping a farm of multiple rigs with dozens of GPUs running 24/7 can feel a lot like herding cats.Conversely, mining a coin before it tanks can leave you with nothing but a big powerÂ bill.
The key to finding the right coins to mine is careful research.Sometimes you should bet on a coin with sound economics and technology and sometimes you should just follow theÂ hype.[Worth 2018 Dollars Billion Circle 24 In Trades OTC Realizing]
However, there is a significant community of home miners operating in the cryptocurrency space, many of whom are making reasonable profits.
The other option is to approach this from the other direction.Just make sure that your computer case has ample airflow and keep an eye on your GPU temperatures.[Network ICO They Stop Powerhouse Ever Will Launches]
Since the inception of ASIC mining drove GPU miners away from bitcoin in 2013, users have continued to mine alternative cryptocurrencies (altcoins) with hardware designed for computer gaming or other desktop applications.
Enthusiastic users will create Frankenstein systems built with multiple power supplies and up to 8 GPUs on custom frames.You can use a normal gaming computer.Basically once youâve found a coin you like, you rent mining power from another Nicehash user and use it to mine the coin before it hits the bigÂ markets.[8211 Bitcoin 2019 News 21 January Summary]
How do I get started with mining? was originally published in Bitcoin Brains Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
If the idea of researching new coins appeals to you, then you can get started by renting hashing power on the marketplace at Nicehash.com.Sometimes a setup that you are certain should be working just wonât work as intended.How do I get started with bitcoinÂ mining?
In my previous article, I came to the conclusion that attempting to mine bitcoins for a profit is not a good ideaâââunless you have freeÂ power.[Price Current Stellar XLM]
Iâm not going to get into all the steps required to become a serious altcoin miner.This process isnât suited to a 5 minute read or a one-size-fits-all guide..Choosing the right coin to mine before it skyrockets can bring in huge profits.However, altcoins can be very volatile so there are real risks here.These rigs often use a variety of custom software to squeeze every ounce of hashing performance out of their equipment.[At Falter XRP Liquidation 34 Cents Ripple]
Just in case going all-in with a significant investment of time and money doesnât appeal to you, there are a couple ways you can get started to try this without a major commitment.
Either of these options should give you a good foot in the door to figure out how altcoin mining works and whether youâd like to be more seriously involved.[Beacon Chain Explained Ethereum]
Setting up this program is very simple and you can get mining with even a single GPU.Weâve often joked that there seems to be some voodoo involved in keeping these thingsÂ running.[Roundup 2018 Wirex]