mining What you have to know about mining

[BrolySSJ 7899]

This is a very good and detailed post about mining. I especially like the fact that you included the equipment that you would need in order to be able to mine bitcoin as this is very important when mining. If you mine with the wrong equipment it can cause damage to your machine. Let alone the damage the cost to run the mining, with regards to electricity cost, will be much higher than your income as the laptops and pcs do not generate a huge enough hash power to warrant mining. Thank you for this post. 

[Moaz 7239]

I think that currently no one can start mining Bitcoin because it is very expensive and requires expensive hardware and needs 24/24 electrical energy, so if you want to start in the mining field, try mining less expensive cryptocurrencies such as Monero or Litecoin.

[Barbarellah 2225]

Very good article my friend! Today due to the great demand for Bitcoin and the majority of stable Altcoins, investing in mining equipment is not being very profitable, since the profit margins are very low compared to the energy costs to keep the equipment turned on. or to give them adequate cooling. There are currencies much more docile than Bitcoin, such as Monero, where with the right equipment they can give some profitability. On the other hand, in particular at this time I would invest directly by buying the currency to hold, wait a certain time and see better results.

[MoralStories 1127]

Sometimes you are introduced with the cloud mining or some kind of free mining that need you to make refferals or to invest so that you can earn, what is that ? 

[Froshk 1828]

Mining is actually very interesting and lucrative but the requirements for mining coins like bitcoin are mostly very expensive and rear, 

But mining coins like tron is a bit less expensive and relatively easier 

[bogdanoff 3173]

Mining starts with Bitcoin. It was done with CPU in the first years and GPU for some time but later the ASIC appeared that were having huge power to solve the bitcoin algorythm and mining switched to industrial from home mining. It is rising too much lately and you can't mine now with GPU or CPU or even just one or some ASIC miner but you need many of them to get results.

[setifien 1016]

On 10/25/2020 at 1:28 PM, percare said:

There is cloud mining that is usually filled with websites that are exiting once they made some money but I've found the yobit virtual mining too that pays good money to investors, with interest back daily in Minex tokens. I suggest to everybody interested to take a look .https://yobit.net/en/mining/

But the problem with yobit virtualmining is that it gives minex tokens and this is not practical at all because this token is loosing much value over time; the best thing is to pay miners (investors) with either btc or usd

[Brandonsaw 1973]

I do not invest in mining since it is expensive to invest in mining and I think you need a large investment to make you profit because it leaves very few and I do not invest in page mining because they mine very little and I think it is not convenient to invest in  those platforms.

[percare 3192]

20 hours ago, setifien said:

But the problem with yobit virtualmining is that it gives minex tokens and this is not practical at all because this token is loosing much value over time; the best thing is to pay miners (investors) with either btc or usd

Yes, I agree with this. I made this comment earlier when the minex price was higher and made everything really profitable, but the price today is probably very low. I haven't done calculations so I don't know if this is not profitable anymore but I am reading in the yobit chatbox that it is not profitable currently.

Edited December 2, 2020 by percare

[Fixfin 2569]

A post about mining but nothing on ASIC miners which is what Bitcoin mining is based on since 2011 and not on CPU or GPU. It matters to know that mining requires too much electricity and this is the first you need, to have cheap electricity otherwise you won't profit from this.

[abdullah553 1981]

Mining years ago was very good and generates a lot of money, but today, after the emergence of the Asec equipment for mining, many young people have stopped mining

[annayks 2314]

I've recently learned that ViaBTC will open cloud mining again. For anyone interested this is something that may give some good income. ViaBTC is a pool in China one of the top in Bitcoin and altcoin mining. Not the top but it has around 5% of the Bitcoin hash rate on average.

[mahdititus16 216]

there is a lot of thing you have and i have to know about it brother , so let me tell you abou that , Mining is one of the cryptocurrency operations, and I have heard about it a lot, and most of those who work in mining need equipment, but it needs constant electricity. so that all my information about your question , good luck brother .

[Smallingcane012 344]

What you have to know about mining is for you to go through the right source to know every thing about mining to details.

[Ninon 0]

A suitable subject matter thru which mining can be understood well. I had some facts about mining, how to take advantage of it and earnings from it, and that it requires splendid electrical strength and precious equipment, and that cloud mining exposes gadgets to damage. 

[Khetam 328]

On 9/30/2020 at 9:41 AM, Babubu609 said:

 

As I said earlier from my previous posts on gambling that I will be coming up with a new topic on mining.

 

Mining: is reffered to a process were all cryptocurrencies transactions are verified and mined to the blockchain.

 

Whenever a cryptocurrency transaction is made on the blockchain, a cryptocurrency miner is responsible for ensuring a Successful transactions . In mining itself has a wide range which also involves competing with other cryptominers to find solution to mathematical problems with hash functions that was associated with a blockchain which contains the almost all the transaction datas.

 

Almost all cryptominers regarding the size of your mining machine they earn small amounts of cryptocurrency of their own after each Successful transactions. Therefore it was difficult for the miners to be competitive with other cryptominers. Note to do mining you need a p.c/ mining computer that is specialized mining. All the way we have a visual mining you can practice on yobit exchange for the contest via the pinned post in green to be among the winners of 10 btc.

You need to get this friends. When going into mining you may experience some Expenses like electricity, internet connection, and also computing hardware that also have great impact to the net revenue generated by cryptocurrency mining machine 24/7 electricity is needed to keep mining.

 

To start mining as a cryptocurrency miner some of this conditions need to be observed/satisfied :

 

1. You most need a computer hardware with a specialized graphical processing unit (GPU). Having this satisfied will help you in your mining

 

 2. You most also need specific integrated circuit (ASIC) should be satisfied.

 

3. sufficient cooling facility should be included.

 

 4. Make sure your mining internet c

Is connected 24/7 to avoid interruption.

 

5. Also try to have alegitimate cryptocurrency mining software package 

 

6. Always be on both in online cryptocurrency exchange as well as in online mining pool.

                                                                           

 

If you are able to get this much satisfied then you will not have problem in your mining. You will always have some earnings on daily transactions depending on numbers of Transactions you made on the block. I have said it before each fee/tax charge from you during transactions goes directly to the Miners wallet. Without the help of miners transactions will take longs and not easily processed. 

As the number if cryptocurrency users are increasing substantially many countries are coming in to cryptoworld there was a lot competitors.

This is the little you knowledge I can share with you about mining.

 

You can also share us some of your knowledge so that we can also learn from you because this forum is just a family that get us together....

 

Thank you all for your responses 🙏

 

 

It's useful and wonderful information about mining I didn't know before thank you my friend for this information on how to do mining.  I am pleased to be in this forum as an integrated family that will support each other. 

[Abrar1122 10]

the mining is not for everyone my friend I think if you want to develop a mining form you need to hire someone who can create one for you

[Ameralsamt 2558]

Dear I really thank you for this wonderful information and useful to everyone, I have liked mining, and the profit from it is also great, but it needs a lot of ingredients to gain from it, and it is possible to lose our processing unit so I will not work on it. 

[kryptonick 2659]

A post made with some information that is correct but missing most of the important parts. I don't take this post as a tutorial and the information provided is somehow correct but not put together in a way to make this helpful.

For example, this post explains that mining can be done with GPU or ASIC, but this is for different occassions. You can't mine Bitcoin with a GPU but you will need many ASICs. You could mine however some other coin but each needs to be researched individually.