GPU MINING For DUMMIES... A Complete Guide on GPU Mining

in thecryptogod •  7 years ago 


 The following guide is a comprehensive tutorial on GPU mining from planning through execution. It will cover not just the technical setup but the decision making and process regarding profitability and long term gains.
 

 1. PLANNING
1.1 What to mine
1.2 Electrical costs
1.3 Profitability & ROI
1.4 Up-time
1.5 Monitoring & Alerts
1.6 Scalability1.1 What to mine
Not all GPU’s are created equal. Some GPU’s mine certain algorithms/coins better then others. For example, NVIDIA GPU’s are better at mining Zcash while AMD GPU’s are more successful mining Ethereum. It is important to decide what you want to mine before purchasing or sourcing your GPU’s. Currently Ethereum is the most profitable coin to mine… however at some point it will go from Proof of Work (mining) to Proof of Stake. At this point those mining Ethereum will need to move to another algorithm.The good part about GPU’s is that unlike ASIC miners, they can mine any algorithm (although some more successful then others). So switching gears is not as difficult as one might think and we should see future coins using the Proof of Work model.As of the writing of this guide (Sept 2017) Zcash or Ethereum is the way to go. There are also multi mining pools and platforms such as NiceHash.com2 that will pool your GPU Hashing power and automatically switch to the most profitable coin. Here are some resources to help you make an informed decision guys... https://whattomine.com/  

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