Topic: New to mining (Read 179 times)
Randomx all the way, this is the most friendly CPU Algorithm I know about, Monero can't get easier to mine than this, way better than using graphics card to mine, another coin that uses Randox Algorithm is Quantum Resistance Ledger, quit a bad ass new altcoin
Right now before you get started you need to realise that there is little to no amount of profit to be made from mining. Basically with an average cost of $0.10kwh, you make $0 per day after you subtract electrical costs.
If you got free or very cheap power, then you can make a few dimes a day. However gone are the days of making $5/GPU/day like we had in 2017/2018. Right now it would be best to just invest the $2000 in either BTC or ETH and just wait a few months years and save yourself the hassle of setting up mining rigs.
If you are going to mine anyways then at least just hold the coins and sell when they start rallying. Not worth it to sell them right now due to the low prices. See what happens after the covid19 mess is over.
If you got free or very cheap power, then you can make a few dimes a day. However gone are the days of making $5/GPU/day like we had in 2017/2018. Right now it would be best to just invest the $2000 in either BTC or ETH and just wait a few months years and save yourself the hassle of setting up mining rigs.
If you are going to mine anyways then at least just hold the coins and sell when they start rallying. Not worth it to sell them right now due to the low prices. See what happens after the covid19 mess is over.
I hope you already know that mining has not been profitable for a while now.
Still, If you want to get started with it. Start slow.
A motherboard with more than 6 PCIe slots is preferable, cheapest Ryzen CPU, 4GB RAM, 60 GB SSD should be fine.
Do not cheap out on the PSU and get Gold rated or better. Corsair RM1000X is good if you are serious about expanding your set-up slowly.
I'll suggest going for GTX 1080ti which can be grabbed for $450 second-hand in a good condition.
Once you have all the parts, it's pretty similar to assembling your PC.
Still, If you want to get started with it. Start slow.
A motherboard with more than 6 PCIe slots is preferable, cheapest Ryzen CPU, 4GB RAM, 60 GB SSD should be fine.
Do not cheap out on the PSU and get Gold rated or better. Corsair RM1000X is good if you are serious about expanding your set-up slowly.
I'll suggest going for GTX 1080ti which can be grabbed for $450 second-hand in a good condition.
Once you have all the parts, it's pretty similar to assembling your PC.
Hello ,
I'm new to the mining domain, So I want to ask about some stuff related to the mining :
[/list]
Thanks
I advice you start here: https://bitcoinminingsoftware2019.com/bitcoin-mining-beginners-guide/I'm new to the mining domain, So I want to ask about some stuff related to the mining :
- I have a budget of 2000$ I want to buy hardware to be used in mining , what do you recommend (MB, GPU, CPU, power supply)
- Best online resources to give me good information about the mining and the software needed
[/list]
Thanks
It links to five pages that have answers for you on hardware and software to use in 2019/2020.
this is the btc section you are are asking about alt coins as mb, cpu,gpu are alt coin mining gear.
look here
https://bitcointalk.org/index.php?board=160.0
and here
https://bitcointalksearch.org/topic/number-9-ninth-altcoin-thread-back-to-the-moon-baby-5144362
look here
https://bitcointalk.org/index.php?board=160.0
and here
https://bitcointalksearch.org/topic/number-9-ninth-altcoin-thread-back-to-the-moon-baby-5144362
Hello ,
I'm new to the mining domain, So I want to ask about some stuff related to the mining :
[/list]
Thanks
I'm new to the mining domain, So I want to ask about some stuff related to the mining :
- I have a budget of 2000$ I want to buy hardware to be used in mining , what do you recommend (MB, GPU, CPU, power supply)
- Best online resources to give me good information about the mining and the software needed
[/list]
Thanks
Jump to: