Topic: Trying to figure out how to mine and got lost, need help. (Read 131 times)

My overall advice is this: mining is not appropriate for newbies. You won't make a lot of money (if you make any at all) and there are many other things to learn about first.



You don't have a "wallet address" at coinbase because you don't have a wallet. You have an account at coinbase with a deposit address. I suggest that you avoid using the coinbase wallet on your phone because coinbase has two apps.  Both are generally referred to as wallets, but only one is actually a wallet, and that ambiguity can lead to the confusion demonstrated by your question.

If you are going to use coinbase, install their app, but not their wallet.



You can't mine Bitcoin with a PC, but you can mine other coins and get paid in bitcoins. That is what NiceHash does. In order to decide whether or not to mine coins, you need to know your revenue (the amount you are paid by NiceHash) and your costs (the cost of your electricity and equipment). I think NiceHash is good for starting out, but I don't know what to do with the problems you have. Check the Bitcoin Forum > Alternate cryptocurrencies > Mining (Altcoins) forums here for NiceHash info as well as info about mining altcoins.

^^
Here is a step by step guide on how to send/receive cryptocurrencies from/to your coinbase account:
https://help.coinbase.com/en/coinbase/trading-and-funding/cryptocurrency-trading-pairs/how-to-send-and-receive-cryptocurrency

I don't have the wallet app installed on my phone so not sure how it works exactly. There should be a receive tab or button, click on it and you will get your receiving address.

Yes I downloaded both apps yesterday.

This leads me to asking you two questions:
1. Yesterday I figured out what my wallet address is when I login to coinbase.com using my PC. I just go to settings and then click on crypto addresses. How do I find my crypto address on my coinbase app?

2. Since I'm now aware that my coinbase wallet app is a different product than my coinbase app, this is giving me the impression that I must have a separate coinbase wallet app address. If so, how do I find my coinbase wallet address using the coinbase wallet app? (i'm using an iphone if this fact helps you answer my question)

Yeah I put this in the mining section but it was moved to the beginner section. I've never been an admin/mod of a forum before so I trust whoever moved it here. I do have another question about mining but I'll put it in the mining section. I'm having trouble finding a mining program that specifically mines bitcoin. When I was mining with nicehash, I thought I was mining BTC but turns out I was actually mining mBTC. I downloaded Easyminer, because a youtube video says it's good for mining bitcoin, only to find out it was mining Ether.

To be able to access your coinbase account from your mobile you have to download the coinbase app not the coinbase wallet app. They are two different products.
I believe you downloaded the wallet app since it gave you a seed (list of words). This app is not connected to your coinbase account and will generate different addresses. If you send coins to one of these addresses, you will not see it on your coinbase account.

If you're logged into the same account on both devices, then it should be the same address, you can check this by comparing the alphanumerics of both addresses to see if they're the same.
You also mentioned about downloading a wallet app and writing down some group of words, which should be a seed phrase; this holds access to your wallet and can be used to recover it on different devices, so it should be kept safe. Also, ensure the app software is legitimate and reputable before sending any funds to it.

About mining, it's no longer as easy as it was some years ago and it takes a longer period to mine bitcoins owing to the hashrate competition. You could direct your inquiries to the Mining section, for more accurate replies.

Ok, I found out why I lost video feed. It had nothing to do with my GPU's performance. Turns out my monitor has a power saving mode that causes the screen to shut off after the screen saver has been up for too long. *edit* nope, I was wrong. Misunderstood my video feed issue. It turns out I lose video feed the moment I turn off a mining program. and even then I only lose video feed, forcing me to reboot the pc if I've been mining for an hour.

I then booted nicehash miner program and then mined for an hour and 11 minutes straight with the mining program using both my CPU and my GPU and my computer didn't even break a sweat. The warmest my CPU got was 52c and the warmest my GPU got was 61c. What's confusing is that i can tell how big a difference when it comes to the amount I was able to mine in just an hour and 11 minutes (which turned out to be 434.39 USD worth of bitcoin mined).

I didn't want to admit it at the time because this whole crypto mining idea seems too good to be true. The next phase of my experiment is to find out when I'll actually get a pay out from nicehash. If so, I plan to transfer the bitcoin from my nicehash wallet to my coinbase wallet, and as soon as I'm able to purchase bitcoin or turn bitcoin into USD and deposit it into my bank, I'll know if this whole crypto mining is for real. If it is, then I just made 434.39 bucks!

*edit* well turns out I was mining mBTC not BTC. So I actually made .57 cents in USD when it was all said and done haha. well, I guess I'll try easyminer to see what happens when I try to mine bitcoin.

Ok, before I ask my questions I need to explain where I'm at as far as "learning about cryptocurrency and how it works" because I consider myself a noob about the whole world of crypto.

1. Today, for the first time, I created an account at coinbase.com

2. Today I also started the process of adding a payment method. I'm now waiting on two small transactions to happen with my bank account, in which I'm supposed to report the amount of those small transactions to coinbase.com....and as far as I know, I'll then have the ability to purchase bitcoin or other forms of crypto.

3. In the process of trying to figure out my wallet address, I downloaded a bitcoin app on my iphone, as well as a bitcoin wallet app. I set up a nickname (example @insertname) and wrote down on paper a specific order of words that I've been told is some kind of key.

4. After I did all this, I was still trying to figure out what my wallet address is and eventually figured out that if I go to coinbase.com, go to settings/crypto addresses, I have one crypto address.

I have some beginner questions regarding crypto currency and most of them have to do with mining, so I attempted to delete a thread I made in another section of this forum and I'm now trying to ask my questions here, since this section on the forum is about mining:

1. I currently have one wallet address that I'm aware of. Am I correct to assume that this wallet address I now see on coinbase.com is the same wallet that's an app on my phone? I guess another way of wording this question would be: Does accessing my wallet via coinbase.com while on a PC vs accessing my coinbase wallet on my iphone mean I have two wallets, or are they both the same wallet?

2. I live on the east coast of the United States. I use Windows 10 pro 64bit. What mining program do you recommend that I use to mine bitcoin? To help you answer this question I wish to communicate that I'm attempting to perform a simple experiment: I want to mine 10 dollars worth of bitcoin, and then cash that out, and put that 10 dollars into my bank account. I'm attempting to do this because of all the little things I'll learn about mining while going through this process.

I downloaded/installed nicehash, but as I was browsing the internet I started seeing videos that this is a bad idea that I'm not supposed to be using a 3rd party to mine bitcoin because its a ripoff.

I have no idea if this is true or not so to be safe I stopped using nicehash until I learn more about mining.

3. Something strange happened when I was using nicehash. When I was fooling around with it, I figured out that I can either use my CPU or my GPU to mine or both at the same time if I want. I started off mining with both at the same time, only for my GPU to suddenly stop sending video signal to my monitor. I had to force a reboot of the PC in order to start getting video feed. And the confusing part about this was that my GPU/CPU weren't even getting hot. My RTX 24GB ASUS TUF 3090 was only at 69c at the time the video cut out and my CPU (an i9-10850k) was only at 45c. Why did mining with my GPU cause me to lose video signal from my GPU to my monitor?


But the most important question on this list is #2, which is "what minding program do you guys recommend?" There's so many to choose from. I'll fool around with different ones that I find while trying to figure this out but would love some advice here.