Topic: What do I need to start mining? (Read 282 times)

Basically you need a decent computer with some powerful graphics cards (nvidia 2080s, etc).  I would not recommend mining today because of very low profits.  Your electricity costs will eat up all your earnings. 

Mining is a serious business now and we should leave it for them who treat it with that level of proficiency. However, if you are really interested in conducting mining activity then I would recommend you to read the following articles as it will help you for basic understanding,

* https://www.bitcoinmining.com.

* The Basics of Bitcoin Mining - CryptoCurrency Facts.

* What is Bitcoin Mining and How Does it Work? (2018 Updated)

* Bitcoin Mining Basics – Tokens24.

* How to get started with Bitcoin mining..

However, please do your own research before taking any decision.

You can find the response of your question in that link

https://www.wikihow.com/Mine-Bitcoins

And is it profitable now to mine the bitcoins or can it look better. But first you need a lot of tools and straight hands and then maybe everything will turn out for you.

Mining bitcoin (BTC) itself is basically the arena of professionals at this point. That said, there are a number of alt coins which have great potential. I personally mine a bitcoin fork as of this weekend and have started to see solid returns, but take my advice for exactly what you paid for it. =)

If you are interested, I documented each single step required to set up my gaming computer to mine while I'm not using it. I'm fairly bullish on BitCore (BTX) and am mining it not just because the math works in real time, but when you add the 5% weekly airdrop (https://bitcore.cc/airdrop.php) and the success they have had in transaction speed, I am holding.

References:
Video tut: https://www.youtube.com/watch?v=PhSB3VqkcMU&feature=youtu.be
Written tut: http://jkcrypto.com/how-to-mine-bitcore-btx/
Facebook: https://www.facebook.com/groups/Bitcore.BTX/
Bitcointalk forum: https://bitcointalk.org/index.php?topic=1883902.new#new

Results so far:
Day 1: Started mining about 4pm pacific on Sunday Jan 14. I am using a GeForce 1080 graphics card which is mining at about 21.7mh/s average on the psychedelic.fi pool. Having now mined about 30 hours, I have been paid 0.23313975 BTX @ $26 today (https://coinmarketcap.com/currencies/bitcore/) = $6.06 / 30 = $0.202/hr. so close to $150/month. More if the coin goes back up.

1. Set up bitcore wallet and join the airdrop

Create a specific address for the mining pool (in my case, I made one called “Mining Pool: psychedelic.fi”)
Make sure to sign up for the airdrop (https://bitcore.cc/airdrop.php) and add every address in your wallet. Free 5% per week!!! through march or april.

2. Pick a Pool

https://www.bitcorepool.cc/ (1,5% fee; good and stable one)
http://s.umine.org/ (0,5% fee, good and stable one) - 7day / money etc avg: .02406639
suprnova.cc - just lowered fees - need to research
http://psychedelic.fi/  -1% fees to attract adoption. young pool just getting started.

I chose the psychedelic.fi pool as the founder is super active on Facebook and helped me troubleshoot issues, which made me lean towards his pool. I also liked the low fees.


3. Set up your mining software

BTX only makes sense to mine with a GPU (graphics card).
CCMiner SPMOD2: https://www.facebook.com/groups/Bitcore.BTX/files/
Note that there are higher mods than 2, but they cost money while mod2 is free.
Almost every mining software triggers security software as lots of viruses install miners on other people’s computers and the anti-virus software just freaks out the second it sees a miner. I lost hours doing the research to get comfortable. As best as I can tell, this is safe. Ultimately, I had to tell windows defender to shut up.

4. Configure windows

1. Increase virtual memory: Control panel > system & security > systems > advanced system > settings > advanced > virtual memory change > uncheck automatically  manage and change to custom custom size 10,000 - 20,000
2. Handle windows defender’s hate of mining: security and maintenance > change user account control settings > change to never notify (this handled the windows defender issue). Note defender still quarantines combiner some times and I have to undo that.
3. Allow the mining tool to restart itself if it crashes: bottom left Run >  regedit > windows > windows error reporting > create new word 32bit val > name “disabled” value data to 1

5. Set up bat file for miner

Make 2 batch files, one for when you aren’t using the computer and one for where you are and name them appropriately. The only change is the -i property which is the intensity of your mining.
Full blast: -o stratum+tcp://psychedelic.fi:3556 -u [wallet address]
No lag: -o stratum+tcp://psychedelic.fi:3556 -u [wallet address] -i 18

If you have multiple graphics cards, then you can add addition intensity definition.

Example: https://[Suspicious link removed]/3I1W1h0M3x26

6. Set up MSI for Overclocking

Grab a copy of https://www.msi.com/page/afterburner
You will want to play with the settings. I am trying at
Power limit 100%
Core +75
Memory clock +500
Once you pick them, click on the checkmark to enable the changes.
If your card crashes or has issues, then play with the settings. A lot of people suggested keeping the power setting at 80%.

7. Run your batch file!!
Enjoy mining.

I strongly recommend you to study first before starting trading. You can check bitcoinwiki.org for that. You can find all the answers there

Yes! You forgot this:

1. Realise you have 17 bitcoins, cos you sold someone a reefer in 2011.
2. Attempt to cash out 2 on Craigslist. Almost get shot both times, before getting away with that knee injury which will plague you in your 40s.
3. Google some stuff, find this forum.
4. Sell some coins on localbitcoins, and decide that a 40 GPU 1080Ti farm is the way to go.
5. Pay a friend 0.1 BTC to help you order and build.
6. Plug it all in, and hit the power button
7 . Spend several days in the dark while your local power company attempts to locate what melted the local power box
8. Get pissed off because nicehash says $1 per day
9. Google some stuff
10. HODL

(this was not meant to be a serious post.....have a smile and a coke )

There are tons of tutorials on youtube or other helpful sites; just look it up on google.

Basic steps would include the following:
1. Pick a coin you'd like
2. Get a mining rig
3. Download a wallet
4. Find a mining pool
5. Get a mining software for your computer
6. Start mining!

Did I forget something?
Maybe it would be more profitable for you just to buy coins with the money you plan to spend on mining?

Bitcoin is not a POS coin you cant mine with your balance

Firstly, to determine the amount of the contribution.Secondly, to determine the equipment.Weigh all the pros and cons. To calculate the payback time.To consult with people who are already mining.Then if you are satisfied you can start

You can find the answer form this link, bro
https://www.weusecoins.com/en/questions/#what-do-i-need-to-start-mining

I bought few bitcoins and I wanna try mining to get more but What do I need to start mining?