Mining requirements

[Migo 7946]

Mining can make you rich if you have powerful computer and graphic card.,in this topic I will tell the Most important things to mine btc. 

1-À free private database also know as your "wallet" is a password-protected which is a storage unit for your earnings and maintains a record of online transactions. 

2-À free mining software packages like one from AMD. 

3-Membership in the online mining pool which is a community of miners who combine their computers to increase profability and stabilize income. 

4-Membership in an online cryptocurrency trading platform, where you can make cryptocurrency exchanges that you have mined. 

5-Create a suitable place for mining, preferably cold and air-conditioned. 

6-Set up a desktop computer specifically designed for mining. 

7-providing the desktop computer with a high efficiency "graphics card" /ATI/Nvidia gpu or more than one card to increase mining capacity. 

This the important things to begin mining, I hope it was helpful. 

[AvrSupply 11]

According to the information that i gathered,the latest version of a computer set was the Predator Thronos Gaming Chair. The specification of a set is high and more efficient than to the past version. I provide a link so that you can improve like this set.

https://www.extremetech.com/gaming/276261-acer-unveils-absurd-insane-predator-thronos-gaming-chair

[setifien 1016]

Especially the desktop computer that should be of a high power because mining does exhaust the processor

Edited November 2, 2019 by setifien

[Lubruselu 2803]

The bitcoin or any currency mining is required several things such as; mining rig machine, mining pool and electric power. But not only that there is another thing is needed which is to be patient while you start mining cause the profit is too low for long time.

[doriahailee 643]

Are you sure? I think bitcoin mining with VGA is not profitable because the hashrate is different and VGA is more suitable for mining ETH or other cryptocurrency that has the same algorithm. Maybe using ASIC Miner from bitmain is still profitbale to mine bitcoin.

[Rebel43 11]

Iam Saying to my Personal Experience, First You Need A Computer Second you need Mining Machine Third You need Very Strong Internet + Electricity.For Mine Coins.If You Not Follow Thish Requirements You Not Get Good Profit In mining, Your think your become failure.Besicaly Mining Not Good For One Computer To Get nice profits.if you Want to be Get good Profit Then you buy five Computers +Mining Machines Etc. 

[DIY Tube Video 239]

You cannot mine BTC with a GPU anymore. You need a high powered ASIC and you need a newer one at that. The difficulty for mining BTC is getting higher all the time. If you buy a second hand ASIC, it is likely that the device will not be profitable anymore before it pays for itself.

 

Now, if you meant other types of cryptocurrency, then yes, you have some valid points. I mine newer altcoins all the time with my GPUs

[Migo 7946]

16 hours ago, Awaremooner said:

You never mentioned a stable power supply. Power supply instability is the major problem African, especially Nigerians faced in mining bitcoin. Irrespective of how sophisticated your gadgets are, you cannot vouch for stable electricity here in Nigeria

Yes I'm sorry, I didn't forget it I missed it, of course power is the important thing in mining, not just Nigeria have this problem, i think all third world countries have. 

[giash crypto 258]

today graphic cards and cpu minings are turning to nagative profit value. always use asic machines for regular profit.

[I-KUN 422]

On 10/31/2019 at 3:42 AM, Migo said:

Mining can make you rich if you have powerful computer and graphic card.,in this topic I will tell the Most important things to mine btc. 

1-À free private database also know as your "wallet" is a password-protected which is a storage unit for your earnings and maintains a record of online transactions. 

2-À free mining software packages like one from AMD. 

3-Membership in the online mining pool which is a community of miners who combine their computers to increase profability and stabilize income. 

4-Membership in an online cryptocurrency trading platform, where you can make cryptocurrency exchanges that you have mined. 

5-Create a suitable place for mining, preferably cold and air-conditioned. 

6-Set up a desktop computer specifically designed for mining. 

7-providing the desktop computer with a high efficiency "graphics card" /ATI/Nvidia gpu or more than one card to increase mining capacity. 

This the important things to begin mining, I hope it was helpful. 

if you don't have powerful computer or don't have a big funds to buy some mining hardwares, you can rent some hashrate in nicehash or miningrigrentals. i think it's the same. you can mining with just a little funds.

[giash crypto 258]

cpu and graphic cards are almost gone useless. so if you really want some good passive income then chose right asics for mining.

[Crypto123 0]

This information I have shared is very useful and thank you, but it certainly will not make you rich, this equipment you mentioned it cost high and if you add the cost of electricity and internet every day you will only get simple profits and these profits will diminish day by day because of the high difficulty of mining and low coin prices . Ask me, I have had this cruel experience and I dreamed of becoming rich but disappointed. Yes, you can make some daily profits and that's it.

[ibtismanipun 120]

Yes your information was perfect. But I want to add one more topic that you need a good understanding of coin the price market.

[ASDFGHJKL17 267]

There is alot of mining requirement you need to meet. You will need need a lot of funds in mining. You will need a high spec equipment that costs a lot of money. You also need the knowledge on mining. 

[geezer 7581]

8 hours ago, Digicoin said:

Not that CPU and GPU are almost gone useless for mining <.....> ASICs are the latest hardware for mining now

Care to share some examples on ROI on ASICs and GPUs?

What is a productive lifetime for an ASIC? Some good GPUs can be used profitably for 5 years.

[silvergain 271]

Mining requires just a good hardware and high quality of graphics. I am mining monero by cpu mining from past 2 years. just made only 20$ only. but i figure it out that i may earn 4$ daily if i buy a good graphics card which may cost more than 700$. So i need at least 7 months to claim my original investment then later on i may grab profits.

[Naga 1250]

I think if you are capable of mining and already have the resources for it then trust me its even better than just trading because with mining you are constantly making more bitcoin which you can either hold or use for trading.

[geezer 7581]

1 hour ago, Digicoin said:

ASICs can also last for years.

 

These are examples. 

Ebit E12+

https://www.asicminervalue.com/miners/ebang/ebit-e12-1

http://miner.ebang.com.cn/

 

Quote

Release - September 2019

Daily profit $7.75 without 2500W cost.

How many years are you telling me it will last? 😃 A new model it is.

[geezer 7581]

58 minutes ago, Digicoin said:

Thanks for that info. You really know about mining.

You are welcome! I can use Google, that's all 😃

1 hour ago, Digicoin said:

We can only say it would last for years I think

That's right, we can only try to predict such things.

1 hour ago, Digicoin said:

ASICs are expensive and makes mining discouraging. I do not know why people here are only talking about electricity.

Because most of those who can afford new models of ASICs live in places where electricity is scarce and thus expensive. And costs of operation mean a lot in this case.

[Akbor 1042]

I think cloud mining is very much easy than hardware mining. as all the process are done by computer but there need a high power computer . for cloud mining no need high power computer only need to join trusted website.

[geezer 7581]

 

RAM is not really needed if you run Ethash or Equihash miners. This is a screenshot from my small 2 GPU rig mining Ethereum on GPU1 and Beam on GPU2.

[babdus10 16]

how profitable is it in a place that there is constant power supply

[Md San 0]

You just need a good compuher or a smartphone with WiFi or internet for mining. But to earn you have to deposit some money.

[tienda 8776]

Yes you have missed a stable power supply. Power supply instability is the major problem African and all third world countries have the same problem, for this problem I think the solution is an energy generator when the electricity goes

Edited January 3, 2020 by tienda

[NordisLofer 77]

Thank you for the information provided, because it really will help beginners. If I knew this before, I would not have lost much of my time.