Mining

As promised my blog won't be all about Photography & Cinematography but about crypto and mining aswell. this two things are not related but they both interest me so you can expect them on my blog.

We mine cryptocurrencies by solving ''puzzles''. Miners are verifying all transactions of particular coin in one list called block. And in exchange for doing that miners get paid in coins as a reward for doing it. But over time solving this mathematical problems get more difficult so you need more power,more hardware to solve it.

I have found couple of different ways how you can mine crypto (This are also ways that I have tried and i am mining at the moment). Hopefully you find one that suites you and you will start doing !

PoW (Proof of Work)

This way of mining is well known. All we need is some computer hardware like GPU,CPU or ASIC miners that we will talk about later.

GPU mining

I started with GPU mining first. And out of first hand i don't recommend it to everyone. If you are not computer type of person, don't know how to build or setup a PC i just don't recommended to you. Even if you can give it to someone that can build it for you there will always be some problems that you will have to solve. GPU mining requires more time to start with. First of all you need to build a PC. You will need:

• Motherboard (that has enough PCIe slots to plug in your graphic cards, depending how many you want)
• GPUs ofcourse
• Power/reset button
• Hard drive where you will install your operating system
• CPU (you can pick very cheap one, or more expensive one if you will do mining on it aswell)
• Power supply that will be able to run whole rig
  And that is pretty much it. But which GPU to buy? Recently most of computer hardware suppliers don't even have them so you will have to be lucky to get some. But to make this very simple Nvidia GPUs work better with some algorithms than AMD. Take a look at this photo:
  

Depends which coin you want to mine you can find hash rate that particular gpu will have and then calculate the profit Here.
Miners that have more than one GPU also put the PC hardware in special rig with fans to make GPUs cooler and last them longer. This is how your rig will look like in the end:

ASIC mining

What is ASIC mining? This are special pre-made ''computers'' That have special chips made for mining only. This way of mining is more simple for me but running ASIC miner is environmentally wasteful it consumes a lot of electric power and it's extremly loud. So before buying it make sure it's WA (Wife approved) aswell. But this way of mining is a lot more simple. You just plug it in, connect on your pc with IP, set pool and worker name boom you are mining your coin. It looks something like this:

PoS (Proof of stake)

Proof of stake mining is really simple. For example you buy NEO store it on your exchange on wallet and you get some % of another coin called gas. So just by storing your coin you are mining it and getting additional money.

PoC (Proof of Capacity)

This way of mining i have found recently and i love it. Proof of Capacity requires HDD space on your computer to mine. PoC mining is called green mining because it doesn't use any electricity. If you have some external or internal HDDs you can use them for mining. The more space you have more profitable it will be. How it works? It requires more time but it's not complicated at all. I am doing Burst coin mining which uses PoC mining since 2014, there might be other coins using this way of mining i haven't been doing research on this. Burst is pretty cool and they have big plans for it. I will review this coin in another post. So how to start HDD mining? You have to set up your wallet on PC where all your tools are aswell. After setting up a wallet you have to plot your HDDs and this will take some time. Once it's fully plotted you just choose the pool depending on your plot size and you are good to go !

What a time to be alive, huh?

We are not done though, i have found one more way of mining most recently

#PoB (Proof of Brain)

PoB mining usses this amazing platform Steemit. As I said in my introduction post i love mining but once you are done with setting up a rig, that's it. No more work for you. But i was always seeking to do more. That's why PoB is great, it never ends. Steemit generates Steem by upvoting eachothers posts on their platform. Better post/video you make more Steem you produce. Isn't that amazing? I truly hope this will replace Facebook and youtube. I am all about decentralization !

This concludes my post. I wish I have seen this post a while ago so I could start with all this ways of mining before ! I hope you feel the same way and hopefully you have found new way of mining that you haven't heard before. Maybe there are other ways of mining that i don't know? Make sure to let me know in comments below. I am planing to do more posts about mining and even some videos on Dtube, so make sure to follow me aswell !

Sincerely,
Weber