Graphics card:
ATI card recommended
Why lol
Topic: what is Mining and WHAT DO I NEED (Read 165 times)
Now a days, mining bitcoin wont be profitable as much it used to be,
We should mine coin low price coins
We should mine coin low price coins
In simplest words mining means the procedure which use to verify the transactions of a coin by solving a mathematical calculation. It is a complex process. For mining you need Good GPU (VGA Cards), Low cost but constant electricity supply & related mining software. If you think to mine coins through your normal PC without High-end GPUs, then it will be really useless because you can't get much profit with CPU. GPUs use high electricity power & emits large amount of heat. If your living in a cold environment, then it will be OK. But otherwise you'll need to A/C the room because of that high temperature. GPUs + A/C use much more electricity than you think. Because of that you need to have low cost electricity power.
If you need more details, please take a look at here: https://bitcointalk.org/index.php?board=14.0
If you need more details, please take a look at here: https://bitcointalk.org/index.php?board=14.0
Generally, there are 3 things you need to know when building a mining rig.
Graphics Card: This is what is actually going to be generating your coins so don't be cheap when buying a GPU
Power Supply: You will need decent power to run your rig so if you are getting 2 or more graphics cards, don’t get anything under 750w. A good one for this is the SeaSonic X Series X-850.
Motherboard: The only thing you need to look for here are the amount of PCI-E slots (or places for your video cards). Try to find one with at least 3 slots so you can expand if ever decide to. A good option is the ASRock 970 EXTREME3
Putting it all together can cost between $800-1000, depending.
In terms of software requirements, you'll need to consider these:
Mining software, such as:
CGMiner
Poclbm
Phoenix Miner (Linux)
DiabloMiner (MAC OSX)
Graphics card:
ATI card recommended
Coin Wallet:
The wallet that is specifically for the coin you are mining
Once you have it all set up, here's a link on what to do next:
http://bit.ly/MiningConfiguration
It's a lot! But if you're committed, you can do it. Exhaust your resources, and good luck!
Graphics Card: This is what is actually going to be generating your coins so don't be cheap when buying a GPU
Power Supply: You will need decent power to run your rig so if you are getting 2 or more graphics cards, don’t get anything under 750w. A good one for this is the SeaSonic X Series X-850.
Motherboard: The only thing you need to look for here are the amount of PCI-E slots (or places for your video cards). Try to find one with at least 3 slots so you can expand if ever decide to. A good option is the ASRock 970 EXTREME3
Putting it all together can cost between $800-1000, depending.
In terms of software requirements, you'll need to consider these:
Mining software, such as:
CGMiner
Poclbm
Phoenix Miner (Linux)
DiabloMiner (MAC OSX)
Graphics card:
ATI card recommended
Coin Wallet:
The wallet that is specifically for the coin you are mining
Once you have it all set up, here's a link on what to do next:
http://bit.ly/MiningConfiguration
It's a lot! But if you're committed, you can do it. Exhaust your resources, and good luck!
You need a lot of money for the Mining Hardware and very low electric power price. Without anything of this, it does not pay and is only waste of time and money, unless you speculate on a rising course so you do not feel angry with short-term losses!
You can read all information about mining here- https://bitcointalk.org/index.php?board=14.0
to create and verified transaction on the bitcoin (and a lot of other alts) you need to put power to the system with asics, cpu or GPU, This process is call mining.
Now they are different way to do it, pool mining, like hashflare.com or genesis mining, or at one with a dedicated computer (called rigs) or asics.
But for bitcoin as the network is already very powerfull, the reward if you run it without first class equipment will not get you anything
Now they are different way to do it, pool mining, like hashflare.com or genesis mining, or at one with a dedicated computer (called rigs) or asics.
But for bitcoin as the network is already very powerfull, the reward if you run it without first class equipment will not get you anything
read this first:
$A Hitchhiker’s Guide to Consensus Algorithms
A quick classification of cryptocurrency consensus types
https://hackernoon.com/a-hitchhikers-guide-to-consensus-algorithms-d81aae3eb0e3
$A Hitchhiker’s Guide to Consensus Algorithms
A quick classification of cryptocurrency consensus types
https://hackernoon.com/a-hitchhikers-guide-to-consensus-algorithms-d81aae3eb0e3
I'm green in the business and would like directions on what mining is all about and the requirements, any information will help
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