Building a bitcoin rig to mine altcoins
All you do is download, install, and configure an Altcoin mining application. Whenever you are not using your PC, run the mining program. It will take electricity and convert it into cryptocurrency for you. Here are the best mining applications right now for each of the Altcoins. If you click the link, it will take you to the message boards where the applications have download links. Just download one of the applications, put it in your Documents folder, and unzip it. I recommend starting with Ethereum.
Claymore is a guru programmer. He makes the fastest and easiest Altcoin mining programs for windows, and provides support by answering questions on forums. Whenever you are not using your PC, run one of those mining programs to generate Altcoins while you are out and about doing other things. You do this by joining a mining pool.
There are a lot of pools out there. Here are the ones I recommend to get started with. The pools even have a statistics page, and you can set up notification to let you know if your miner stops mining for some reason. In every Altcoin mining program, there is a place where you need to enter your mining pool address to mine to. This is not hard. Start by setting up an account at an exchange that only deals in cryptocurrencies. After you open up your account, go to the Balances, then Deposits and Withdrawals section.
Enter that address as your mining pool address in the Claymore program. The specific place to enter the address is in the config. Zcash uses a single address for mining, the t address. Poloniex provides both for you. As you keep running your miner, the amount of Ethereum, Zcash, or Monero you own will grow. I have other articles that recommend what to do with it, and how to keep it safe. After you get a little bit in your account, take a look at my recommendations on security.
If you decide this mining is something you want to continue doing, a PC with a graphics card is not the most optimized system available. You are going to want to have dedicated hardware and be able to run the system remotely, with no monitor, keyboard or mouse. If you have a little bit of basic technical know-how, you can go one step better than mining with a gaming PC.
You can build a relatively inexpensive mining rig that is maximized for GPU utilization and cooling. These rigs can run either Windows or Linux. If you are going to have 3 or less, Windows is ok.
More than that you really want to think about using Linux. With Windows you have to set up an application that allows you to access the entire GUI desktop, and unless you pay for each copy of windows, it will update and reboot itself at inconvenient times. It includes every single step you need to do in Linux to make it work. You can probably max out at about 5 mining rigs at the place you live.
First year of mining pays for the rigs, second year is all profit. For more than that, you are going to want a dedicated space with more power and airflow for cooling. If you have the ability to build mining rigs, you can rent yourself a small industrial space, put in a fan and a vent, and turn your mining operation into a small side business.
If that works out for you, rigs would get you a nice paying full-time business. Also published on Medium. Altcoin , Bitcoin , Mining , ZenCash. Adish Jain April 13, 3: Easy to setup, friendly user and nice UI. Is anyone still following this? Complete waste of money but if you want to make one just for fun then get a cheap 2nd hand GPU and components off ebay. Hi…I am keen on getting started but all the info I get is 2 to 3 years old.
Can I convert into US dollars for normal use? His guide describes how to build a linux machine on the cheap with maximum hash […]. Follow a detailed set of instructions that will have you up and running with Linux on your litecoin mining rig in about an hour. BUT realistically, the rig has to be assembled and this surely takes some knowledge if you are not in the business of building computers.?
I am a teacher and not a technical person; however, I do trade alt currencies on Bittrex. I would now like to start mining merged mining seems the best option — mining different currencies that use the same algorithm. Probably years from now, a bitcoin will be on figures each. Buying as early as now is a good investment. There are plenty of ways you can buy bitcoin though and one of them is xmlgold. They offer several withdrawal options too and they just re-launched their XMLGold card that helps people withdraw their bitcoins easily.
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Hardware Learn what components give you the best bang-for-the-buck when it comes to litecoin mining. May 2, at 5: January 28, at 2: May 13, at 6: June 6, at 2: June 14, at 4: July 21, at 3: August 22, at 4: August 29, at 7: January 14, at May 16, at 8: May 19, at 5: July 23, at 1: