My Journey so far into the world of Cryptocurrency

in #cryptocurrency7 years ago

As of today I have been mining for 5 days. Using a computer with very low end specs. A laptop g71gx just something I have around. link to pc specs. This is my first foray into mining!

I started with Minergate GUI miner. Minergate link. photo of GUI at bottom
It works well to learn what is going on but decided I needed to know more. I also needed to get it running on a real computer now that I have a wallet set up and a pool to use. I started mining QCN due to its low difficulty and the computer I was using has very low specs(it gets 30 H/s on the cpu) and the GPU is only compute 1.X so isn't supported by most mining software anymore.
I downloaded some old versions of the mining software off github and got it to work with roughly equal hash speed of the cpu (30h/s). It would disconnect frequently, and was blazing hot. I am unware of the actual temp. It had to of been over 90 degrees Celsius. Needless to say I am no longer using my gpu to mine on that computer.

Over the past 2 days I have set up my computer to mine while I am not using it! It is a AIO Asus specs with a 960m and i7 in it.

2017-06-30.png

^^That is it running^^ It seems to run a bit warm I have the miner set to cut off at 85 degrees.

I figured the next logical step was to learn to use the CLI version off the miners I went thru alot of trial and error with software and hardware issue. But as you see above i figured it out.
Downloaded miners for AMD cards and wondered why they didn't work. lol
Using versions that don't support compute 1.x for a long time till i figured out what it was.
I read about 10 READMEs' about 100 time.

I have done lots of reading and research for the past 5 days.
Now that I feel like maybe I might have some knowledge about how the cryptocurrency works, how it is mined, and how coin exchanges work. I really want to dive full in.

I have some questions for the veterans here on Steemit Questions are in bold

What is the next step?
Mining rig? Build a nice PC for mining and use it sometimes?
What is better AMD or Nvidia?
Everything I have read says AMD (all my cards are nvidia)
Is it ok to buy a used mining rig?
I found a 3 card set up for sale locally only used for 3 months. $1500 3x AMD rx470 (they are sold out everywhere)
What pool should I use?
I currently have been using minergate but would like to look outside the cryptonight algorithim.
What should I do with my mined coins? Exchange? Save?
Turn to STEEM,SBD? Everyone says put it in a coin you believe in, Steem then? Maybe ETH or BTC?

Thanks for readiing

2017-06-22 (3).png

^^My friend told my my speed for ETH was terrible and to stop should I of listened?^^ I did....
In the photo above I believe i was just using the GPU(960m)& 4 cores of my CPU for eth. It would give me a low memory error when using my gpu for eth. Think it has to do with the DAG file size. Not sure tho.

2017-06-22 (1).png

Check out Minergate with my affiliate link!

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Next step is to transfer your mined coins to :

  • Poloniex
  • Kraken
  • Hitbtc (easiest for beginners)
  • ...
    (Choose one to start with)

and start trading them with profit.

Second thing is to keep mining for another week, if you're still into it make your own rig,
1500 = way too much!
Start with 1 card (I use AMD rx480 and rx580, be sure to get 8gb cards, GTX 1070 also has a good ROI).

Next thing: start reading cryptonews, and don't get hyped by someone else.
Join a thrustworthy group (facebook, Reddit,...) of likeminded and listen, learn.

Last tip: when trading, please don't trade with emotion, sometimes it's good to HoDL! (Search Google for the HODL story)

Good luck!

Thanks for the advice I really appreciate it! Recently I have been focusing on BCN and XMR. XMR for the value coin. BCN because the rewards are great. Have earned over 300 tokens of BCN already.
When you say cryptonews are you referring to https://www.crypto-news.net/ or the general term cryptonews as in the the market as a whole and current info/changes to market.
Also what wallet should I be using or is there a trading wallet on poloniex(etc.) to be used for making exchanges.
I have a coinbase wallet and also my minergate.
I have multicoin wallet on my phone Coinomi I haven't used it (yet) not sure how "good/safe" the wallet is

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I set up Minergate up a week ago mined for one day and was out of town for a week. I am back today and just stated today. I'm mining on my 6 year old gaming pc using the smart mining feature. Us noobs need to stick together.

Yeah man. Good luck. Have fun out there. Keep reading. the CLI works great on my older laptop. They have all the resources on their site to set it up as well.

good job mining man, thank you for helping the crypto community grow

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