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GPU Mining Crash Course - START HERE!
Welcome All to the GPUMining Crash Course! With the increase in prices in cryptocurrency, a lot of people are getting back into mining and a lot of people are brand new to the concept overall. So, I quickly wrote this crash course to help you understand what to expect and how to successfully mine your first cryptocurrency. This crash course isn't gonna have all of the fluff you'd see in a normal publication. This is just everything you need to know to get up and running on your first cryptocurrency mining rig.
What is cryptocurrency mining?
One of the main things about cryptocurrencies is that they are "decentralized". Sounds great, but WTF does that even mean? Well, the easiest way to explain it is... You know how if you want to send your friend/family money digitally, you can do so through your bank. Your bank likely takes a transaction fee and in a few days they will transfer the money. Since cryptocurrencies are decentralized, they don't have a bank or organization to fulfill the transfer of money. Instead, they outsource the computing power of their cryptocurrency network to miners (soon to be you). These miners are verifying transactions, securing the blockchain, and powering the cryptocurrency's specific network among other things. As an incentive, the miners collect transaction fees on the transactions that they verify and collect block rewards while new currency is still being introduced into the ecosystem.
What kind of rig should I build?
You can mine cryptocurrencies using your CPU, GPU, FPGA, or ASIC, but this is a GPU Mining subreddit, so I will cater this to GPUs. For building a great all-around GPU rig, there are two models of GPUs that I'd recommend:
Both of these GPUs have solid hashrates across most mining algorithms and for a decent price! You should be able to find both of these kinds of GPUs used for around $200-$250 each, which is a great price if you know what happened during the last mining craze! ($200 GPUs were out of stock everywhere and people were reselling them for $600+ each) There are also plenty of great AMD GPUs for mining, but I've worked mostly with Nvidia so that's why both of my recommendations are Nvidia and not AMD. Other parts to your rig that you'll need are listed below. Most of these can be pieces of crap and are just needed to make the rig actually run, but the one spot you DON'T want to cheap out on is the power supply unit. A decent power supply unit will keep your home from burning down while also keeping your rigs up and running smoothly. Here are my recommendations:
Motherboard - This Motherboard can hold up to 6 GPUs (considered a full rig) with the use of risers. It is decently priced and will fit nearly any mining rig upgrades that you make in the future.
CPU - You really just need the most basic CPU you can find, it's not very essential to mining unless you're CPU mining, but even then... CPU mining isn't very profitable for how expensive CPUs can be.
RAM - All you really need is about 4GB to keep this thing running. If you want more, go for it, but it's not neccessary in most cases.
Power Switch - Doesn't need to be fancy, just needs to turn the thing on and off
PowerSupply - Don't cheap out here! Pay for a quality PSU and save yourself the headache and be safe with a solid PSU. Get a GOLD quality PSU at a MINIMUM! Platinum is good too, but probably unnecessary. The linked 1300w PSU will support most 6 GPU rigs, if you're going for higher tier GPUs like a 1080ti and above or if you're having more than 6 GPUs on a single rig then you'll need something stronger.
GPU Risers - I use this kind. They work and they're not shitty. They do require 6pin for power. Use a Molex converter if needed, but going 6pin directly from your PSU is best. Your 8+6pin will probably be a little bit short, so you'll need some 6pin extenders. EVGA will sell them you for a few bucks each, but you have to call as they're not listed on the site. DON'T YOU DARE THINK OF USING A SATA CONNECTION UNLESS YOU WANT YOUR ENTIRE MINING OPERATION TO BURN DOWN AND TAKE EVERYTHING ELSE WITH IT! SATA IS NOT RATED FOR THE POWER THAT YOU NEED!!!!
Kilowatt Meter - So that you can monitor your power consumption from the wall (much more accurate than trying to calculate each piece of hardware individually). Also helps when overclocking for a higher efficiency.
120GB Solid State Drive - SSDs are pretty damn cheap now. Just get it instead of your prehistoric HDD. Also, make sure you get AT LEAST 120GB! Many of the popular cryptocurrencies like BEAM and GRIN will demand quite a bit of virtual memory, so you'll need the extra space on your SSD to compensate for that.
Something to put your rig on - This one seems to be popular, but pretty much anything will do. I literally used a shoe rack and zip ties. You just need something that will give the GPUs airflow to breathe and keep the rig organized as a whole.
Windows 10/Linux Operating System - Pretty self explanatory here. Don't go with any of the MAC OS or Apple Products. They're extremely over priced and nearly useless in the mining world.
She's built, now what?
Now you need to do a few things. I am a Windows miner, so I will be speaking to Windows here:
Update Windows - Do all of the updates. Just do it.
Update Drivers - Go to the EVGA website and download GeForce experience. It will keep your GPU drivers up to date.
Go to Windows Device Manager and make sure all of your GPUs show up under "Display Adapters". If it is there, but it isn't showing the Name/Model of the GPU as the name, right click it and select "Update Driver". This should fix it.
Assuming you've done all of this, you're ready to download a mining application.
There are tons to choose from! Claymore, Phoenix, EWBF, LolMiner, etc... It can be overwhelming pretty quickly since they all have different algorithm support, speeds, efficiencies, and a whole lot more. On top of that, in order to get them running you need to set up batch files to call the proper exe, point you to the correct pool, and a whole bunch of other stuff that can be confusing to a new user. Not to mention, you will probably need a separate miner, config file, batch file, etc. for each different algorithm that you're interested in mining on. Instead, I recommend that you download a miner management software that will take care of most of this tedious work for you. There are a few in the sidebar, but the /GPUMining favorite is AIOMiner. It was developed by our very own community member, xixspiderxix with the intention of making mining as easy as possible to do and without any fees. It supports over 100 different algorithms, so you'll be able to mine nearly ANY cryptocurrency you'd like. Just download it from their website and it will take you through a quick tutorial to help you get set up! You can also connect your rig to their website for remote monitoring and control. You've probably seen a few of their posts around this subreddit. Other Windows mining softwares include:
many more you can find from google searching
Note: Many mining softwares have fees built into them. Most are around 1%, but can go as high as 5% or greater! You want a mining software with little or no fees at all so that you get to keep as much cryptocurrency as possible. These fees aren't something you actively pay, the software will automatically take it by mining on the developers behalf for a given amount of time and then switching back to mining on your own behalf. So, please be diligent in the software that you evaluate and make sure it is reputable.
I keep hearing about NiceHash. What is that?
The asshole of the mining industry. Jk, but not really. NiceHash is a software program that allows you to sell your rig's hashing power to someone on their marketplace. They market themselves as profitable mining, but you're not really mining. You're selling your power in exchange for Bitcoin. They did a great job telling people that with them, you're always mining the most profitable coin, but that's just not true. Since it is a mining marketplace, they make you mine whatever their most expensive contract is. If their contracts are below market prices, then you're not operating as efficiently and profitably as you could be. NiceHash also has a sketchy history, which continues to this day. In 2017, they were hacked and lost $65M worth of Bitcoin. No one got paid out for MONTHS and many of their executives conveniently resigned. Their platform is also used to destroy cryptocurrencies. Since people are able to purchase mining power on their platform, people have used their platform to purchase enough mining power to control individual cryptocurrencies and duplicate coins, which increased the malicious user's wealth while completely destroying the integrity of the coin's blockchain. HoriZEN (formerly ZenCash), Ethereum Classic, and many other great cryptocurrencies have been the victim of NiceHash's platform. For this and many other reasons, we highly recommend that you stay AWAY from Nicehash. We understand that it is extremely easy to use and you get paid in bitcoin, but they are destroying the industry with their greed and lack of motivation to change their platform for the protection of cryptocurrencies.
This is pretty much everything you need to know to get started. We covered the hardware, setting up the software, which software to use, and AIOMiner's tutorial will get you up to speed on how to actually mine the cryptocurrency that you want better than I can explain it, so I'll leave that part to them. If you have any questions on this crash course, please leave a comment below where myself and other community members will be able to help you out.
Before Gutenberg invented the printing machine, reading and writing was an exclusive skill held by the elite. This huge gap in knowledge and wisdom gave the elite the power to suppress its people. Today we are more enlightened than ever as information flows freely onto our computer screens, turning us into well informed individuals. Most of us fail to admit to that we cannot read or write the most important and powerful language of this century: Programming language. We used this newfound language to optimize and digitize the world we know and understand, got more efficient at doing what we kinda always did and fitted the code into our existing system as we built new infrastructure to broaden its impact. Bitcoin is a bit different however, as the code is the system. There are many participants in it, as they participate without permission and without fear of being censored. However, only one group can change the bounds within one can participate.
This catapulted developers (i’ll use this term for simplicity) into figureheads with authority and supposed wisdom about society -- and how to fix it. A demanding role to say the least. Shoemakers, way beyond the shoe. Proof of this new phenomena was first observed when the bitcoin community split into two opposing tribes, mostly because of one single parameter found deep inside the holy scriptures of strings and symbols. Blocksize. To cap, or not to cap, that is the question. To this day, the rich enlightened literate elite of each tribe throws arguments at each other in public debates, while the angry illiterate mob cheers on their respective side and curses its enemies into oblivion.
SCAMMER! FRAUD! BABIES ARE DYING! WE ARE THE REAL BITCOIN! LAYER TWO IS THE SOLUTION! -- WHAT WOULD SATOSHI SAY!?
I have a feeling what Satoshi would say. And i don't think either side would want to hear it. The case bitcoin maximalists make is really appealing to me personally. There are many lessons to be learned from it. But as development is funded by Venture Capital flowing into for-profits with unclear structures and motives with no apparent desire for transparency - the great Blockchain disruption turned into a new establishment which no longer can uphold its own values imposed by early adopters. A look behind closed doors into what was supposed to disrupt „behind closed door“ monetary policy: https://np.reddit.com/btc/comments/7c29kk/blockstream_investor_emails_leaked_shows/
The smokescreen of a libertarian pipedream gave astute business men the perfect opportunity to turn a quick buck. I find a for-profit working on Bitcoin and Lightning Network, who sends out private emails to investors about their agenda questionable.
The fact that there is no yearly “Bitcoin Transparency Report”, in which not only developers disclose financial interest, but also Mining Pools, ASIC Producers etc. come together with open cards and at least try to have an open dialogue with each other, makes me confident enough to make the argument that Bitcoin failed most of its early promises and probably always will. We had the chance to do better. We didn’t. The result of this is zero adoption by the broader public or enterprises. Because by doing so you would empower this newly formed establishment. There is no incentive for most to do so, unless you are part of it. What once was meant to disrupt the “behind closed doors” establishment turned into exactly that. A behind closed doors establishment that manifests itself in a language most people do not understand. It must be convenient to have an opposing tribe you can shift the focus to. “War is a necessary tool for the Party because it keeps the standard of living in check, maintaining the inequalities essential to a totalitarian state.” - George Orwell on the State of Bitcoin. Wait what.
Once we can admit that the liberal bitcoin dream has failed we can make the following point: Transparent governance is important. Fuck your ideology.
Technology can change the world for the better, but only if people of good will work together to make sure it’s designed and deployed in ways that protect and benefit everyone.
Guys, I know we are all happy and uppity with all of these things going on, but I just want to let you know that this is only the beginning of a long journey to the moon that we're wishing for. Having spent some time and learning about digital currencies in general, I am saying this out of love for what we have here in this sub. New pups, heed this well as you will now be a part of something important. A few months ago, we were considered a joke coin. A joke. Now, I prefer that we are not too serious but we demand to be taken seriously. So if you're craving for what you can do to help even if you're new or just want to kick things up a notch... Here is a serious list of the things you can do to support the rise of Dogecoin. 1.) If you are mining with a GPU, consider trading your equipment for an ASIC. These things are energy efficient and make you profitable in the long run, if not at least save you in electricity. I initially resisted the idea before, but I was ill-informed. I played into the fear that some unknown kook will make a farm out of these. But any equipment will make farms. CPUs have botnets, so the same phenomenon will happen regardless of mining equipment. What we really like to see though, is that mining would become decentralized. If we attain a large hashrate ACROSS a large network, not limited to multipools, then we can be safe and not worry as much. For those who don't understand clearly, the hashrate is the strength of the Dogecoin network. The larger it is, the harder it is for us to be attacked by rogue computers causing the whole Dogecoin network to fail. This has happened with obscure coins with very low hashrates, with their networks taken over and rendered their wallets near-useless. Bitcoin has 50 Petahashes, while we are barely 50 Gigahashes, roughly 5 times less than what Litecoin currently has. There are haters. There are entities interested in tearing this whole thing apart. This is the stuff Dogecoin Defense Force is trying to prevent from happening. It doesn't have to go there, but we need to step up. 2.) Buy $5 dollar's worth of Dogecoin if not more and "hold" it - Buy it because it takes it off the exchanges. Multipools dump millions of Dogecoin so they can get their hands on Bitcoin so they can get their hands on fiat. There's a reason they called it an "exchange". They kind of miss the point, so we should act instead. The only exchange that should be happening is one between of money and goods changing hands, regardless of borders and with minimal transaction fees. We've spent money on a lot of dumb things, and those things never even had a chance of increasing in value. Even a dollar will help. 3.) Advance merchant integration / adoption - The skinny is that businesses are scared of Dogecoin not due to the negative press, but among other things. Why take something that's valued differently the next day? Google the Zimbabwe Dollar and imagine being in the shoes of these merchants. How many hours would they need to train some disinterested dude about the complexities of transacting across wallets. In short, it's TOO HARD for them. Not only it's too hard currently, it's not paying the bills. We need to make it effortless for merchants to adopt, and I'm saddened that this aspect is not taken all so seriously. 4.) Vote. Participate. Think of this sub as a fairground where so many good things are happening. We are a community, no one needs permission to get stuff done; get up, go and run away with the ideas around here. Form groups, talk, and tip, but the best of all, execute. If anything, help a Shibe out, especially if they're new. Speak up, we'd love to help you; your understanding and success is the community's success. I have heard people who have been lifted out of their depression just by joining this sub. It's that spirit that's unique to us that needs to be on every true Shibe. Kindle those sparks; be the Prometheus and share that fire, now matter what the odds. This will be a contentious idea but I will say it anyway: Price does matter. 1 Doge is 1 Doge, but we can help more people if Dogecoin is worth a little more than what it is now. Imagine tipping 100 Doge at one cent per doge means you gave a real dollar to a cause. See the impact that we can have if money, even if it used to be a joke, is something of worth, though little. Now, some of you will say that a real moon price would make all those "greedy schmucks who join multipools" hoard Doge where it will never see the light of day. This is FUD. That doesn't have to be the unfortunate reality of the world we live in. If you are true to the spirit of charity, love and kindness, and if Dogecoin is a force for good, we'd all want it to be a strong force. Please do not believe you can slack because the responsibility is diffused among 81000 shibes. Neither am I saying stop the amazing absurdity of the things that we do. That spontaneity draws a lot of us in in the first place. You have no idea how efforts unnoticed, no matter how small, add up and reach a tipping point. Let us also not be complacent and put the blame on our coin's youth. We put a great message out there with the Dogcar, and it's high time that we follow through. We are one big party, but it takes work from all of us to keep it coming. Keep the passion going, and it'll take work; but I know we will be rewarded. Thank you for reading this. I know this will get buried considering it's a wall of text, but I'll say what I think needs saying. tl;dr - If you love Dogecoin, you will read and consider some of things I said above. To the moon!
Hi everyone! For the past couple of weeks, I've gotten really interested in Bitcoin and other cryptocurrencies. I've read up about its more technical aspects, as well as more "worldly" so to speak (how it has affected economy, about its potential etc) and I find it genuinely interesting which feels great! Anyhow, I would really like to get into mining cryptocurrency for a profit. I don't expect it to pay as well as a job would (and I don't plan to treat it like one either), but I would like to profit from it at the same time as I'm learning about it. (I also have free electricity so that's pretty good) I have read a bit about the necessary hardware and the DIY-rig VS buying an ASIC, and as I've never built a computer and is better at writing software than building stuff out of hardware and maintaining it, an ASIC seem to be the logical choice for me. With a budget of around $1200, do you guys think I have any reasonable chance of achieving my goal? From what I've read online, the answer is yes, but that's what I've gotten from various guides that may or may not have been outdate and/or biased. I would absolutely love to hear your different opinions regarding this! If you were in my shoes, what ASIC would you chose and what currency (or type of algorithm) would you chose? I still consider myself a newbie regarding all of this, so please bear with me if I got something wrong! Hugs<3
Here are my thoughts on the matter: FedoraCoin is a really great coin with great features and really good devs. Now, is that really enough for a cryptocurrency to survive and thrive? I want to argue that it's not. It's easy to copy coins and enhance their features, we have an extremely competitive market with almost a limitless number of coins, with new coins that always try to be better, offer more features and reach new markets. I would argue we live in a Darwinian place, and those who don't keep evolving as fast as they can will end up as a name in the fossil record. We are still in the kids-shoes stage of the whole cryptocurrency economy that's just being formed. We absolutely need to remember that this is a dynamic and kind of 'alive' system, where even if you had the perfect solution, if no body uses it, it's as good as a piece of stone. In other words, it's not enough for a coin to have attractive features, and clever devs who can come up with innovative solutions when necessary. These are only the basic necessary features that a coin would ideally have so that it may thrive in the future, but they are not enough at all. What's needed in addition to these features, is a community, an active and enthusiastic community that has a vision(s) for the future of the coin, and has the innovative business people who want to build upon what's available to create uses and profit from their endeavours. I strongly argue that a cryptocurrency without a community of innovators and businessmen is to become worthless in the future and it's value while it exists is nothing but speculations and gamblings of those willing to take the risk in the hope that it may succeed one day if they're not only in it for the quick buck. This is the idea that I want to make sure we all become aware of. Without a community of innovators and businessmen, FedoraCoin with all it's nice features and lovely properties is as good as the next coin on the 500+ list of coins. Devs alone are not enough, their job in my opinion is just to maintain the essential building blocks and keep them upto speed with what's necessary in this fast evolving world of cryptocurrency. But they are far far away from creating any business or all the tools necessary to make the coin really useful to a worldwide audience. It's not possible and shouldn't be their job, we must be clear on this. Such a work must come from the community, only a community can have the diversity, multitude of ideas and innovations necessary to help the coin thrive and be used in the real world. So, how do we make sure we cultivate and ENABLE such a community to form?? We need a tool of communication that can do the job, a place for those people to get together and talk about their own ideas, separately, in an environment where they can stay on their subject and follow up etc. What I see in the only tools we currently have, namely reddit, bitcointalk forum, and irc channel, are mainly like a river of ideas and threads that keeps flowing, you toss in the idea and before you know it it's already washed down the stream and even if some people jump on the boat for a while the interested parties need to get off to a separate place on private messaging or whatever to be able to talk, meaning the idea can be followed up by only the two or three persons who liked it and were present at the time, and it quickly dies away since there is no momentum. I think it's obvious where I'm going with this, and I had to stretch out my idea and write all this just to make sure I make my case, that's because I've proposed this idea numerous times before on the bitcointalk forum as well as on the irc channel, but again it was just flushed down the stream and got forgotten. I don't have the expertise needed to create a new forum, so with this post I'm appealing to you all, the devs and the community, hoping you may take up this idea and create that forum. It's absolutely necessary in my opinion if FedoraCoin is ever to move from the realm of just another cryptocoin in the exchange markets to a truely useful tool in the realm of internet economy with actual users and businesses and customers, tippers etc. We have a wide wild west to explore, markets just waiting for the right idea, the whole blogger-socialnetworks sphere to exploit and innovate in it but nothing is happening because there is no momentum, no organization, just chaos of seprate chatter here and there. We already have great examples of forums which we can learn from, I give you here two such communities:
these are two of the most active communities I've ever seen apart from bitcoin and we need to have such a forum in order to let innovative people meet and create their own side projects and develop their own new tools and businesses with FedoraCoin. We can discuss what the subsections should be and what categories are needed, but for now let's just see that such a specialized forum IS NEEDED. We can have a section devoted to community projects, so separate projects can be suggested and the interested would get in on them. We would have a section devoted to discuss mining, the current hashrate and how to defend against ASICS etc. all different specialized places. The previous two communities I showed have even weekly and monthly reports from the devs to keep the community up to date on the current projects and next milestones. We need that if we want a community that believes in the coin and the devs and that can innovate on its own and take FedoraCoin to the next level. Other projects can start to give updates and reports when they are done, we could have a section dedicated to the finished projects and their final status to let people know how they can use them. I hope with this post I could persuade you to see the urgency of having this forum, and I hope to get those who have the ability to create such a place to communicate here and got it done! Otherwise as sad as this would make me, I don't think TiPS will be more than any other coin that will get hyped in the next cycle and then dumped again and I would have to get out cuz all the potential it has would be just theory on paper and it won't be realized because we lack the momentum and the number of innovators working on it. I hope we can get this done!! And in that spirit, live long and prosper, and together, may we forge ahead towards a bright future! but to get there, we still have a job to do I believe :) - ps. for those who are downvoting, would you please comment on why you downvoted? pss. if this post gets 25 points score then icanprogram will make it happen! so don't forget to vote!
According to our estimations, June 2018 was a major tipping point. Since then, bitcoin mining is no longer profitable for miners whose electricity costs are above 0.14 $/kWh, due to their prices falling below the marginal cost threshold. These developments reinforce the increased centralization of professional mining facilities in China. Bitcoin mining is difficult to do profitably but if you try then this Bitcoin miner is probably a good shot. ASIC Bitcoin Mining Hardware. Application-specific integrated circuit chips (ASICs) are bitcoin mining hardware created solely to solve Bitcoin blocks. They have only minimal requirements for other normal computer applications. Innosilicon T2THF 28TH SHA-256 Bitcoin Miner BTC ASIC Mining machine t2t . $369.99. Free shipping. Make Offer - Innosilicon T2THF 28TH SHA-256 Bitcoin Miner BTC ASIC Mining machine t2t . Halong Dragonmint T1 16TH/s Bitcoin SHA256 Miner USA Ready to Ship w/ PSU - USED. $124.00 +$30.00 shipping. 2019.10.10. - Explore kamiontechnika's board "ASIC Mining" on Pinterest. See more ideas about Számítógép, Tecnologia, Technológia. Whatever mining rig you buy, it will eventually grow obsolete. This is because the algorithm behind Bitcoin is growing increasingly complex. Now, as more people buy mining rigs and mining pools grow in size, the algorithm will only begin to increase in difficult at a faster rate. In my opinion, mining is a high-risk, high-reward investment.
The Best ASIC Miner For Residential Mining - FutureBit Apollo Review
FutureBit has released a new device specifically made for mining cryptocurrency! The Apollo is the most efficient scrypt ASIC miner ever created. Is Mining Bitcoin Still Profitable in 2020? by VoskCoin. 16:37. How Does Bitcoin Work? by Techquickie. ... Handmade Shoes for Men, How to Make Goodyear Welted Shoes by Paul Parkman The research estimated that for an attack occurring after the next halving to be profitable, it would require between 157,000 - 530,000 Bitcoin if 100% ASIC mining was in place. Is GPU mining still worth it? Is GPU mining profitable in 2020?! We review GPU mining profitable and the best graphics cards for mining in 2020 along with CPU and ASIC mining! Subscribe to ... ASIC mining cryptocurrencies and Bitcoin is profitable. Let's review current mining profitability and why you should be mining crypto coins with your CPU and graphics cards when you are not using ...