How can I start mining?

Discussion in 'Mining' started by Damon, Nov 14, 2017.

  1. Damon

    Damon BoxInitiate
    Founder

    Nov 10, 2017
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    I recently started learning about crypto currencies and working the investing angle so far but seems like mining coins directly would be better. At least I think.
    Questions like:
    1. Where would new miner begin?
    2. How much money should I expect to invest initially?
    3. Are there coins available that a small miner can mine profitably?
    I've watched many you tube videos on the subject however, seems like this forum has some really informed members.

    Would anyone like to share their thoughts ideas or lessons learned on mining?
     
  2. Bryan Ngu

    Bryan Ngu BoxMember
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    Nov 13, 2017
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    Hey Damon, I just started mining. Hopefully, I can help you with my journey of setting up a mining machine.

    1. Where would new miner begin?
    You could use any PC that is unused to start mining. Second, create a wallet for the coins to be deposited once mined. Third, as a beginner like me, I use Nicehash as it is the easiest program to start off. Basically what NiceHash does is to optimize mining the most profitable coin according to your hardware and pay you out in BitCoin.
    1. How much money should I expect to invest initially?
    You can go as low as free (Using your old machine) to getting $10,000 or $1,000,0000 (Building a huge farm). I started off my mining rig with $10,000 investment.
    1. Are there coins available that a small miner can mine profitably?
    Hm... you can check this website whattomine.com. It will show you what's the most profitable coin to mine according to your system. However, it varies day to day as difficulty rise and changes often.

    I will definitely share with you more once I got my Rig.

    Hope this helps.

    Oh! by the way, there is a mining forum in the sub category.
     
    bukaeagle likes this.
  3. Ethan

    Ethan Moderator
    Staff Member Moderator Founder CoinMaster

    Nov 10, 2017
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    Hey Damon! I moved your posting here because it was more fitting here!

    I'll be sure to give you a detailed answer soon, however, by the looks of it , you may want to mine using a GPU rig!

    If you want more Information on GPU rigs, I would contact @blastar , as I know he mines using GPU rigs!

    Hope this helps and hope I can add some useful information soon.
     
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  4. Nick Sy

    Nick Sy BoxInitiate

    Dec 13, 2017
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    A normal bitcoin S9 miner would cost a little more than 1k USD without the power supply. I suggest you put your miner on locations where mining is cheap like Washington State, China, Iceland etc where they have hydropower and geothermal power plants. http://gigawatt.com is a good place to start.
     
  5. Johnny

    Johnny BoxInitiate

    Dec 9, 2017
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    YouTube is your best bet to learn about mining
     
  6. crayrayc

    crayrayc BoxInitiate

    Dec 15, 2017
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    Which coin/s are you interested in mining?
     
  7. bukaeagle

    bukaeagle BoxInitiate

    Dec 8, 2017
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    Very good question, I was looking for this thread for ages. So glad I find it finally.
     
  8. bukaeagle

    bukaeagle BoxInitiate

    Dec 8, 2017
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    I love your answer bro, thanks for sharing.
    How can I find the mining sub category?
     
  9. bukaeagle

    bukaeagle BoxInitiate

    Dec 8, 2017
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    I don't have a GPU, I have a laptop. Can I mine from it?
    Can I use those programs like Nicehash, Hashflare ETC... without the need for expensive types of machinery??
     
  10. bitdk

    bitdk BoxMember

    Dec 8, 2017
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    You can NOT mine with laptop....

    There is 2 types of mining you can do:

    1. Buy new computer with best GPU's or buy special miner machine

    2.
    CLOUD MINING - you pay contracts, so they do mining for you, and pay you (Hashflare, GenesisMining)
     
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  11. bukaeagle

    bukaeagle BoxInitiate

    Dec 8, 2017
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    Thank you, much appreciated
     
  12. cryptomined

    cryptomined Administrator
    Moderator Founder CoinMaster

    Nov 10, 2017
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    if you have GPU mining questions feel free to visit my youtube channel at Cryptomined | https://youtube.com/cryptomined
    I personally recommend GPU mining over ASIC mining for several reasons:
    1. more decentralized
    2. easier to resell hardware when the hardware is no longer profitable or you want to move on.
    3. GPUs have multiple uses other than mining, playing games, rendering, running multiple displays - so you can always build a kickass desktop and mine at the same time, or build a nice desktop when your done mining.

    I also sell GPU mining hardware from Frames/Cases, Risers, Motherboards, Source GPUs, and other cool crypto stuff like T-Shirts/Flags/Coins/QR Code wallets... feel free to check out my store at Cryptomined.com | https://cryptomined.com :) I only accept crypto as payment.

    Any questions can be left as replies here or emailed to me at [email protected]
     
  13. cryptowolf

    cryptowolf BoxInitiate

    Jan 24, 2018
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    #13 cryptowolf, Jun 27, 2018
    Last edited: Jun 29, 2018
    Yeah, the first question you should answer is which type of mining you prefer. The choise is between hardware (requires expensive equipment, you pay for electricity, better focus on altcoins) and cloud mining (rent remote power, various data plans, profitable only in 2-3 years). The second option is better for total newcomer, becouse it doesn't require investing in gadgets. Additionally, cloud services offer bonus codes like http://ccgminingcode.com/, so you'll be able get extra profit.
     

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