Topic: How can i start bitcoin mining? (Read 1168 times)

I am willing to share with you step by step. Recently, I got bored and asked an apprentice to add me on Twitter: @lonelyminer0

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watch for this guy fairly suspect he hacked this account.

might be cheaper to buy bitcoin .. just in case.

Today you do not need to be a professional for home mining. Enough basic knowledge about electrics and wiring, electricity limit at a good rate.
I can’t and won’t be able to repair modern ASICs at home, so other repair masters will deal with the service. But the high power consumption of new asics will not allow them to be used at home in large quantities.

The mentality most noobs out there and newbie in this forum is that bitcoin minning is simply  getting free bitcoin giveaway. However,  Bitcoin  can simply be getting free bitcoin actually but that's when you complete some tasks using hardware to get a reward.  I believe  this should have been address by the professionals in the house  so I don't need to dive into it . I just want to cleart that minning isnot bitcoin giveaway     for those that are still having similar mindset to BTC MINNING

I think if I were you then I would probably start looking in the Beginners section. There are many threads that teach us the mining operations, the tech behind it and even how to set up them. These are also the threads from the experienced persons from the forum who are into mining since the beginning. I think you have already gotten plenty of the resources from the above discussion itself but since they are outside the forum resources I would also recommend to visit the beginner section.

If you dig down properly then you will get knowledge plus the required instruments from the forum member itself. For example, there are also sellers of ASICS, GPU's, other accessories and there are also service providers who can help you set up your miners and connect with the pools.

I think it won't be much difficult if you wander around the different threads and seek the old threads. Good luck with your project mate.

it is interesting to learn about this experience, how justified the risk and investment,
I don't think I would spend money on anything else.

Why do people copy past "Miners solve complex mathematical problems" everywhere.
It isn't complex.
It's a simple sha256d hash of 80 bytes.
Then all you do is look at the answer and count the leading zeros.
If there's enough, it's a block.

About 10 years ago, probably no one would want to mess with the training of a beginner and many miners learned from their mistakes. Now everything is different, for example, if you buy a batch of ASICs from a manufacturer or a dealer, then as a bonus they train your specialists in the maintenance of mining containers and ASICs, and invite you to free internships every 6 months. If you buy specialized ASIC repair equipment, then your specialists will also be trained and trained for free or at big discounts.

It may be a competition but no one is anyone's enemy. If you have a good understanding of mining and share that knowledge with others, I don't think it will hurt you. Since no one is harmed by discussing mining here, I think everyone will express their own opinion about mining here. OP didn't want to learn about mining here he just wanted to get some idea about mining from experienced members, in view of getting his idea many members have already shared their knowledge about mining with him. 

OP is new to mining and is interested in mining that's why he expressed his interest to know how to start mining. Many people have shared different opinions about starting mining, hope the OP has at least learned a bit about starting mining.

Indeed and I agree with what you said dude, sometimes even if you are capable to purchase of asic miners if the electricity consumption is expensive, it doesn't matter how many asic miners you have, because the profit you can get as a miner will go only in the costing of electricity and there may be a loss due to the amount consumed because we know that it is needed to open 24/7.

it's just like here in our country, only a few location can say if it's a cold place, and the lowest kwh is at 0.25$ dollar, Bitcoin mining will not work here.

You don't need to install any "mining software" on your system, what are you talking about ?

"Starting Bitcoin mining? Here's what you need to know:
1️⃣ Educate yourself on the process and costs involved.
2️⃣ Get a Bitcoin wallet to store your mined coins securely.
3️⃣ Choose suitable hardware for mining efficiency.
4️⃣ Join a mining pool to increase chances of earning rewards.
5️⃣ Install mining software on your system.
6️⃣ Monitor your mining operations regularly.
7️⃣ Consider electricity costs to optimize profitability.
8️⃣ Stay informed about industry changes for better decision-making.
Happy mining!

To start Bitcoin mining, educate yourself on the process and costs. Get a Bitcoin wallet for storing mined coins. Choose suitable hardware, join a mining pool, and install mining software. Monitor your operations, consider electricity costs, and stay informed about industry changes.

I think this topic is not really out of place because even one try to visit Google or YouTube, some time one may not get it right than when out legendaries that are here in this forum will do.
I also thanks for the link u have so far dropped, at least, as new that we are here we can make some follow up and get it right to a length.

Good morning. We can offer you hosting with low cost electricity ($0.062/KWH) with all the necessary logistics and maintenance.

-1- 24/7 service and security:

Our service is reliable and our security continues.

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Ability to handle any issue, from replacing a cooler to fixing a hash board, providing end-to-end solutions.

-3- 99.9% availability:

Availability is a key factor for the success and efficiency of high yield ASIC miner operations.
The technical capabilities and our infrastructure guarantee high availability.

-4-Low cost of electricity:

The cheap electricity of Irkutsk allows competitive rates = 5.5 ruble/Kw or 0.055 euro/Kw

-5-Power stabilizers:

We have a power stabilizer to compensate for
electrical instability and potential losses due to unexpected voltage fluctuations. This enables reliable protection of equipment and data integrity.

Conclusion :

Our hosting in Irkutsk offers all the necessary conditions for placing ASIC miners.
Reliable service, high availability, low cost of electricity and power stabilizers.

Contact: [email protected]
Facebook: crypto mining investing

The number of ASICs in bitcoin mining is always increasing. Now you need to buy a new modern ASIC so that it is relevant after the halving, because time will fly by quickly, and then the profit will decrease. I didn’t understand about the office, but ASICs are not installed in office premises.

Ledger is not the best option, there are many other hardware wallets too but, this is Bitcoin not altcoins that's full of closed-source wallets in the space, any open-source, non-custodial wallet will be fine, like Mycelium and Electrum wallet, I have never had any problem using these two Bitcoin wallet, seriously hardware wallet add more security but most Wallets that have problem are those that are not open source, Bitcoin wallets are always safer than multi-coin wallets like Coinomi and Trust wallet.

Thankyou for your useful information. Because till now i know for bitcoin mining we need best configuration computer or laptop wven server computer. Without it impossible bitcoin mining. But i know now don’t need high quality device to mining bitcoin any suitable device is enough to set up ASICs. But it is really true Asics need special room like Calm and quiet office where has no any noise. And we have to ensure uninterruptedly electricity. And it is highly cost. If anyone considering thats things he will start mining.

With the growth of the Bitcoin hashrate, solo miners will also have to increase the number of ASICs. With one or two ASICs, solo mining will be long, and an ordinary miner who can use several kilowatts in hour of electricity at home or in an apartment will not participate in solo mining.

I think that this question has been repeated for several times but still I think that there are Asic miners where you can mine Bitcoin and crypto and that is super easy. And also I can say that by having a mining rig is a good thing.

What you're saying is correct, but my point is that there is no competition against the entry of new miners, everything about the BTC network is permissionless, so older miners cannot stop new miners from mining, they can only adapt by trying to increase their own hashrate, that is even if the newer miners come in with significant amount of hashrate.
I know that solo mining isn't dead, but how often will a solo miner with a small hashrate get lucky to mine a block!

As it is random, solo mining will never be really dead.

It's sure yeah ; the more the global network's hashrate is increasing, the more the difficulty will increase too as it is directly correlated, but it doesn't mean that there is a competition sentiment, like "against" new miners.
Those who have a real hashrate and real infrastructures will adapt themselves to the increasing difficulty by increasing their own hashrate, and if they don't, it means they just have a strong confidence in the rising of BTC's value to compensate the drop of income related to the increase of the difficulty.

A large hashrate makes it more likely to find new blocks, and the arrival of new miners reduces the share of your pool in the total hashrate.
But we have seen cases of luck when solo pools with a small hashrate are mining blocks, so solo mining is not dead.

The competition in BTC mining is to determine who is going to add the next block into the blockchain, not against the entry of new miners, the system is open source and permissionless, so as many miners can join without anybody's permission, you only become a strong competitor if you generate enough hashrate.
Importantly what you need in order to mine is Asics and cheap electricity, if you start small you'll not make any profit, so rather than being a solo miner without enough hashrate, it's better you join a mining pool and contribute what you can, to get revenue on your contribution.

You don't have to learn a lot because you can use ready-made containers or cooling systems and mining management systems. Miners will help you with this, but you need to find cheap electricity. And you need to change the location, then the container can be prepared for mining faster.

It's unlikely that anyone will teach you because it's a competition. I can only advise you to study in more detail the very nature of Bitcoin and how mining works. It may be possible to find some videos but don't get your hopes up for practical advice. It is better to try, to start with a little, and then you will understand as you go.

A large investor capital is not enough for mining without access to cheap electricity. It is not difficult to buy several ASICs for yourself, making a rosette for them, but mistakes on a large farm will take a lot of profit due to breakdowns, because each new ASIC is expensive today and staying asics even in warranty repairs also deprives you of profit.

Maybe it's better to read the forum first and do some research about what you're asking here. Because it's actually not easy to do Bitcoin mining, apart from the fact that it requires a lot of capital, you must also have deep knowledge about the thing you're entering it into.

It's hard to just waste your capital if you don't have enough knowledge about it. Although, this forum will help, I advise you to watch other tutorials about Bitcoin mining on youtube just to get an idea anyway and do some research on google as well.

Thank you! I truly appreciate your kind words. Learning from experienced individuals like yourself is incredibly valuable, and I'm grateful for the knowledge and insights you share.

Then he needs to buy an inexpensive ASIC with low power consumption
https://www.minerlist.com/miner/ipollo-v1-mini-classic-plus

Error. It says 0.0045 ETC,but in the table the price is 0.0045ETH.

And this calculator shows other data.
https://www.asicminervalue.com/miners/ipollo/v1-mini-classic-plus

The correct Revenue is approximately 0.004 ETC or 55 cents/day.
ROI of this ASIC is more than 3000 days. Bad calculator.

curentaly block rewards for btc is 6.25 bitcoin till the next haveing next year

coinwarz states this What date is the next Bitcoin halving?
April 26, 2024
When is the Next Bitcoin Halving Date? The next Bitcoin halving date is scheduled to take place at block 840,000 - predicted to occur on April 26, 2024 at 10:44:45 AM UTC. On the Bitcoin halving date - the block reward is scheduled to drop from 6.25 Bitcoin per block to 3.125 Bitcoin per block.

I do not really understand what you want?

If you want to choose mining pool, I suggest you to know about f2pool, 2miners etc.
If you want to know the profitabity of each hardware, I suggest you refer to minerlist.com
If you want to know how to buy asic miner, I suggest you read about this article: https://asicfinder.medium.com/a-comprehensive-guide-on-buying-bitmain-antminer-bitcoin-miner-with-asicfinder-5d2934ea6fb4

This is wrong. To mine Bitcoin efficiently, you need ASICs.

Mining another coin on another algorithm (I mean other than sha256) and getting paid in Bitcoin is not mining Bitcoin. You won't be contributing to the Bitcoin Network's global hashrate if you are mining this way.

I've got nothing against using Nicehash -even if their way of playing both sides is a bit dubious- but we can't say we don't need an ASIC to mine BTC, it's a mistake.

In a similar old article, the same thing is written
6 Mining Profitability Factors
because nothing changes in bitcoin mining, except for the addition of new ASICs
You will not be able to plan for the price of bitcoins and difficulty, but only the price of electricity and the wages of workers.

You don't need ASICs to mine bitcoin. You can use video cards or FPGAs and mine the most profitable coins. NiceHash and similar services will mine the most profitable coin and pay out rewards in bitcoins, or other coins from their list. You can use video cards in an apartment, unlike asics.

Bitcoin mining is the process of adding new transactions to the Bitcoin blockchain and verifying them through solving complex mathematical problems using specialized computer hardware. If you are interested in starting Bitcoin mining, here are some key properties you should be aware of:

1. Hardware requirements: Bitcoin mining requires specialized computer hardware called ASICs (Application-Specific Integrated Circuits) that are designed specifically for mining Bitcoin. These machines are expensive and consume a lot of electricity.

2. Mining software: Once you have the hardware, you will need to install mining software on your computer. There are many different mining software options available, some of which are more user-friendly than others.

3. Mining pools: Joining a mining pool can increase your chances of earning Bitcoin rewards. A mining pool is a group of miners who combine their computing power to mine Bitcoin more efficiently.

4. Electricity costs: Bitcoin mining is an energy-intensive process, and the cost of electricity can be a significant factor in determining whether mining is profitable for you.

5. Difficulty level: The difficulty level of Bitcoin mining increases over time as more miners join the network. This means that you will need more computing power to mine Bitcoin effectively as time goes on.

6. Profitability: Bitcoin mining can be profitable, but it is not guaranteed. The profitability of Bitcoin mining depends on many factors, including the cost of electricity, the price of Bitcoin, and the difficulty level of mining. It is important to do your research and calculate the potential profitability of mining before investing in hardware and software.

As this question has been repeated for several times but still I will say that Bitcoin mining.is not worth it what it used to be almost 5 or 6 years ago like 2017 etc when we could make 0.5 btc per month with antminer S9.

Any miner will tell you that water cooling is more expensive and requires more attention when connecting equipment. Video cards with water cooling are expensive, and the cooling system in asics is more complicated. Fans are cheaper, but noise is not a problem for large miners. This is only a problem for small miners who want to install equipment in an apartment

https://coinminingcentral.com/products/bitmain-antminer-s19-hydro-158-th-s

The Model Antminer S19 Hydro (151.5Th) from Bitmain mines Bitcoin on the  SHA-256 algorithm with a maximum hashrate of 151.5Th/s for a power consumption of 5226W.

Bitmain’s first-ever liquid-cooled S19 miner, the S19 Hydro is more powerful and provides a high hashrate for the fastest ROI possible.

The S19 Hydro boosts energy savings and takes extra steps towards environmental protection.

The S19 Hydro provides the latest cooling technology, which avoids overheating issues. This ensures the highest level of performance, with reduced downtime using a state of the art liquid cooling solution.

The Bitmain Antminer S19 Hydro uses the latest generation firmware providing an effortless and optimised mining experience. This ensures a  faster start-up speed while hydro cooling technology allows for ease of use and high-performance standards.

Check out the YouTube channel of this miner. He makes water cooling for different ASICs.
https://www.youtube.com/watch?v=146bQ9nTTTI
Asics consume much more electricity. Whatsminer M53S consumes almost 7 kilowatts, and miners do not use these ASICs in a private house.
Water cooling is also equipped with fans, if you do not have a large radiator outside.

So water cooling with ASIC Miner is possible ? I don't know that this is possible, can you direct me to any tutorial or any video to just see how this thing works out ? because this is my first time of hearing that water cooling works on Asic miner I don't believe it's possible until I see this with my two eyes,  can you please drop a link or something?

Running an Asic miner is like running a GPU miner with 8 video cards, I believe that an Asic miner takes up to 3500 watts from the wall, so how can this not work in a house? You can just instal in a store or room that no one is using, if there is enough air flow it's better, air flow is the only reason why I won't run an Asic miner in a room but it's possible. If water cooling works it's even going to be better.

You don’t need a good quality computer to mine bitcoin, because any office computer or an inexpensive laptop is enough to set up ASICs.
Asics need a special room, because mining is not possible in an apartment. Noise can be overcome with water cooling, but getting the necessary power in the apartment is already a problem. Even if you install ASICs instead of electric stoves, you will have very large electricity bills

Bitcoin Mining can be complex at times, you needs to know the types of cryptocurrency you want to mine by doing your own personal research, then settling up a stop criterial to the limits to what you want to mine.

Wrong.
Having a decent PC and 'mining software' has NOTHING to do with mining Bitcoin. ref https://bitcointalksearch.org/topic/bitcoin-mining-intro-rules-of-this-subforum-read-before-posting-2415854 mainly point-3
The PC and software only applies to mining altcoins and this area is exclusively dedicated to mining BTC, not crapcoins. The Forum has separate areas for that.

You can find good information on how you can start Bitcoin mining on various popular search websites. And all those websites are very well mentioned how you can start bitcoin mining. To start Bitcoin mining you will first need some Bitcoin mining equipment. First of all you need a good quality computer for mining, secondly you need to install a good mining software. Bitcoin wallet will be required and you will need electricity for mining and some other necessary items you will need to collect for mining.

You gotta be trolling right?
You've never heard of Antpool, FUpool, ViaBTC, Kano.is etc. A simple `net search will probably turn up more than a dozen...

any mining pools still active?

It is necessary to mine with asics. Video cards are unlikely to give income

Yes but no. There is no software to install on your computer, you just need one or more ASICs, and you need a internet source. You can then access the interface of your server via its IP address but no specific software is necessary.

You have to stop saying all the time that mining is "complex mathematical problems solving", it's totally wrong. It is closer to bruteforcing than to solving a complex mathematical problem. This is a preconceived idea that is totally wrong.

Otherwise, to answer OP, the only intelligent way to consider mining is to know your electrical cost per kw/h, to understand the basic notions (difficulty, luck, types of payments according to the pools etc...), and to know where and from whom to buy your equipment so as not to get ripped off.

The only advice I can give you is not to be impulsive and to inform yourself a lot before spending money, because a bad choice could cost you a lot of money.

Do you think it's that easy to get started with bitcoin mining set-up in this field? The question here is always how much electricity do you consume in KWH?

       Before, I also tried, even though I have money to buy mining rigs because of a relative of mine who will help me in buying it, that's why the consumption of pe kwh of my electricity is at 0.2$ I'm almost at a loss if my plan worked. I can ask you this, but if your consumption is at 0.05$ kwh or below, maybe somehow you have a chance to earn bitcoin.

To start Bitcoin mining, you will need a Bitcoin wallet,a ledger is the best choice, mining software, and mining hardware,asics are expensive. you will need to download and install mining software on your computer. Once you have the software, you can start mining by using your computer's processing power to solve complex mathematical problems that validate Bitcoin transactions and earn new Bitcoin. You will also need to build or purchase a mining rig(asics), which is a computer specifically designed for mining cryptocurrencies. It's important to note that Bitcoin mining can be a competitive business, but the equipment can be a lot expensive

We already have a guide here for newbies who wants to start Bitcoin mining for the first time not only the guide posted above but you can start by reading this "First time/Small miner reference for getting started."
This should be the first part before you buy an ASIC unit and mine.

Your post is quite broad and doesn't really give us much information to work with.

In order to get the most helpful responses, I would suggest asking more specific questions about the aspects of bitcoin mining that you're interested in. For example, if you're considering different types of mining hardware, you could ask for recommendations or opinions on which brands or models are most efficient.

Similarly, if you're unsure whether to try solo mining or join a pool, you could ask for advice on the pros and cons of each approach.

By asking more specific questions, you'll be able to get more detailed and useful responses from the community. Good luck with your bitcoin mining journey!

thanks..i just like learning from already experience persons

Don't expect anyone to teach you everything step by step here on this forum.
Try using google, or YouTube for this general topic and I am sure you will get an idea of how to start mining Bitcoin.

Once you are aware of the basics, you should be encountering some intermediate issues and then you can refer to this forum.
People will be very happy to help you if you try to help yourself a bit.

Some popular Google results of your query:

1. https://www.investopedia.com/terms/b/bitcoin-mining.asp
2. https://cointelegraph.com/news/how-to-build-a-cryptocurrency-mining-rig
3. https://www.bitcoin.com/get-started/create-bitcoin-wallet/
4. https://www.coindesk.com/learn/how-to-set-up-a-bitcoin-miner-2/

I will really like to know if there are other step of mining bitcoin apart from these step?

When you choose and set up your bitcoin mining hardware.

And to create a dedicated wallet.

And as well configuring your mining equipment.