What I see from spending a lot of time on forums and different facebook groups where iI try to help people new to mining and being a miner myself is that a lot of the same questions keeps popping up and people new to mining does't really know where to go to find information. So hopefully this blog post will help someone out there to find answers for their questions.
Easy way to start mining with Nicehash
One of the great ways of getting started with GPU or CPU mining is with http://www.nicehash.com which offers a great and easy service when it comes to mining. Just Install the nicehash client, run the benchmarks and input your bitcoin address and you are off mining. Super easy to get started and thats actually how I got started in the beginning until I moved a long to start mining with pools. The difference with Nicehash tho is that you don't mine for yourself and you get paid in bitcoins regardless of what you are mining (which you cant choose yourself) the application calculates the most profitable coin to mine at the given time based on the demand of the hashing power getting bought on the nicehash market for people who want to buy hashing power for there own mining. So with nicehash you are selling your hashing power to someone who wants to pay for it and it works really well the only downside compared to mining on your own is that you could make more money on your own if you just know how to.
Ethereum mining the only viable mining out there?
One thing I see a lot is that many potential new miners out there only know about Ethereum and think that's the only thing you can mine since they read that somewhere on the internet and while mining Ethereum is quite profitable at the moment i think its important for people to know that there's alternatives out there too. Especially since more and more people are getting in to Ethereum mining the difficulty on the blockchain increases so the potential payout for each miner decreases as more and more people join.
here's a few links to youtube channels that covers ethereum mining
https://www.youtube.com/user/BitsBeTrippin
https://www.youtube.com/user/talibanfighter123123
What to mine ?
www.whattomine.com is a great site to see what your configuration could earn right now with if mining (take it with a grain of salt) and what a lot of people do is that they mine whats on the top of this list (I personally don't any more and will cover why in a separate blog post )
But with my current configuration 4 GTX1060, 2 GTX1070, 2 RX480 this is how it looks right now over at whattomine.com
From this list you can just pick the one you want to mine and just google your way on how to get started, there's a few different miners out there for different coins like ccminer, sgminer, claymores dual miner etc. Then comes the question if you should mine on a pool or not and if you are just getting started then yes you should start with a pool as a general rule.
final words
I could talk about mining for hours and hours but another place to start if you have question is over at http://www.reddit.com/r/gpumining where I and a lot of other people answer question and discuss about mining.
Also check out my mining videos i have done over at
https://www.youtube.com/playlist?list=PLIkvg3hFOHacD5f_ptQ082HGJ_4BdOMMK
thats all for now and stay tuned for more post about mining
Cheers, Timmy
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I love cloud mining
But little bit of knowledge is needed
Gpu mining binds you
But the Gpu mining returns were very Appreciated
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cloud mining has it's place for sure and more choice is always better and with that said cloud mining also has it's drawbacks so the most important thing is to be educated enough to be able to make a decision why you choose one over another or both.
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