I’ve done a few posts and videos about mining since I started this blog, and get lots of questions! Here is an introduction and some answers to FAQ’s – they don’t delve into all the details, and provide a good overview for a new or aspiring miner. Why mine for Crypto currencies?

If you have the ability to understand the basics of cryptocurrency, have a little bit of technical skill, and have access to electric power that is relatively inexpensive (500 miners. These are full businesses, with employees, investors, processes, procedures, and optimize for profitability. The focus is different for the different sizes. Small miners tend to optimize every aspect of their miners, and can babysit them to make sure they are working properly. Medium miners usually want to keep as much running as possible while keeping the independence of a small operation. This post is a good starting point – Large miners operate like a small business.

How To Build A Computer To Mine Syscoin SYS. How to mine ZenCash. (unless you really did want to auto-exchange ZEN for something else) MPH>ZenCash Pool. If you are still having trouble reboot your computer. Scroll down to the Configure miner for ZEN. 9 thoughts on “ How to Mine ZenCash on a Windows PC.

Mining can be very profitable, but there were many years when mining was not, and only the miners with the lowest operational costs could stay in business. This blog is oriented toward the medium size miner who can deploy more machines than the small miner, and has more operational flexibility than the large miners. As you start to operate more miners, networking them together becomes more important. I made a video about that also: How Can I Buy Miners at a Good Price in Large Quantity? Buy them directly from the manufacturer.

In late 2017, that means having crypto-currency in a wallet and ready to spend. I buy most of my miners from. There are other good mining manufacturer’s out there, but the Bitmain Antminers have the best price and performance. Does It Make Sense To Mine Dogecoin DOGE more.

You can usually buy up to 50 or 200 miners per order from Bitmain. Sometimes you can even pay them with a wire transfer in fiat currency. The problem is, if you go to the Bitmain website, most of the miners are sold out.

It is possible to buy them, though. Follow Bitmain on Twitter and Facebook, because they announce 12-24 hours ahead of time when they place miners on sale.

When they go on sale, work as hard as you can to get the miners in your cart and check out within a two hour window. After that, they are usually sold out again. Other good companies to buy miners directly from include: • • • There are occasionally other companies that pop up claiming too have the best miners available. Unless you know someone who has one of their miners, don’t order from them, as they are probably scam websites. How can I cash out my mining profits? My recommendation is to keep as much of what you mine as long as you can. You can minimize taxes in the USA by holding the cryptocurrencies you mine for more than a year, because then any increase in value is taxed as a long term capital gain.

At some point, you need to pay some bills. Or pay off your house.

So what do you do? There are two main types of exchanges – one type is cryptocurrency only, and the other is cryptocurrency to fiat.

Set up an account at a cryptocurrency to fiat exchange first. Examples of these are • • • In order to process any significant volume, you will need to provide identification to satisfy their KYC/AML (Know Your Customer/Anti-Money Laundering) rules.

Exchanges that process fiat currency operate much like banks. After signing up and providing identification, connect your exchange account to a bank account. Make some small test transfers of a fiat currency like US Dollars both ways. When you want to sell (or buy) cryptocurrency, use the trading part of the exchange. For Kraken, that is part of their main page.

For Coinbase, that is on, which shares a login with Coinbase. Set up limit sells or buys.

Then transfer the funds to your bank account. Take note of the daily, weekly, and monthly transaction limits when planning your sells and transfers. If you are mining smaller altcoins, you will need to trade them to Bitcoin, Ethereum, or Litecoin in order to sell them on an exchange. That’s where cryptocurrency only exchanges come in. Well known centralized exchanges are: • • • • There are also decentralized cryptocurrency only exchanges, but those are harder to use.

After trading the altcoins to BTC, ETH, or LTC, withdraw them to a deposit address at Coinbase, Kraken, or Bitstamp, then sell them using limit orders on the exchange. What would you mine right now? Will mining ever become unprofitable?

What do you do about taxes? Do you worry about security? Where should I buy miners from? What do you think about cloud mining? Can I use an exchange address for my mining address? Can I hire you to help me with a problem or consult on building my mining facility?

Not now or in the foreseeable future.. Can invest my money with you so you can build a bigger mining facility and provide me cryptocurrency? I am all set.

Full video guide tutorial on how to build your own ZenCash Mining Rig - DIY GPU Miner using these parts Gigabyte 1080 TI / Asus 1080 TI / Zotac 1070 mini Intel G4400 / Crucial Ballistix Ram. How to setup your mining rig to mine ZenCash on Linux using fullzero's custom Linux Mining OS nvOC_19 nvOC official thread nvOC_19 Download. Today I'm turning one of my Trio Mining Rigs ( 1080 TI / 1080 TI / 1070 Mini ) into a 4 card GPU Mining Rig. A 4 card miner is one of the best beginner and budget minded mining rigs around. I do not mine Ethereum anymore not because I'm not a fan of ether or because I don't think you can make money mining ETH.. I chose to build a mining farm that is suited to mine a wider range.

ItsCryptoChick is building.