Useful tool
Hey Steemers, How are you all doing today?. Today i am going to be sharing something very useful for you out there that are considering to look into mining crypto currencies and making it profitable. Everything that i post in this thread will be based on my opinions and experiences mining for a few year now. Its safe to say that mining from home has gone a long way since i first started mining. I got into mining at the very early stages of bitcoin and i was mining off a pc that had a fairly new CPU at that time and after a few years down the road, i got a GPU which was the GTX 680. It was slow but i kept my head high and continued on mining for a couple of year and one day everything went terribly wrong. my GPU wasn't responding anymore and i figured that i must have fried my pcb or something mining those coins. So i stopped mining for about a year, it was during that moment i realized how profitable mining was so i bought a laptop, This was the first lesson i learned about crypto mining. NEVER USE A LAPTOP to mine crypto currencies. Sure there are a couple of decent laptops that have great airflow which could support the heat generated by mining. but i just dont think its a good idea to go buy a laptop and mine off of it in order to get your ROI. You see, When it comes to estimating your return on investments, its best that you don't go with the cheapest route. That laptop was sold at that price for a reason and most laptops are priced well over their cooling capabilities. i generally think that laptops are bad and any self respecting miner should never use a laptop to mine crypto currencies.
So, the next thing is to find a good pool to join and i find that cryptocompare.com provides the best list of pools that you can choose from to start mining. Consider checking the pool fees as some pools charge a lot for fees and some pools dont charge anything. you should also take a look into the pool payout system as some pools may be paying out on a schedule basis or manually. Usually pools that have high hashing powers tend to hit most of the blocks so choose you pools wisely as the biger the pool is the easier it is for the pool to find a block but the larger the number the block has to split into. your profit depends on the number of blocks the pool is able to find each day and usually the number of shares accepted sent by your rig. This means if you are in a pool that has a lot of people that have higher hashing rate than yourself, you will be having to compete for shares in order to gain some money.
Lastly, The miner. You should always look into miner technologies as most miners today are very advanced and are able to do algorithm switch rather than the standard single algorithm mining. These miners are called multi algorithm miner and one of the best i have ever used is the Nemos miner. You can find it in the link that i am going to post at the end of this thread and hope that all of you that are interested will benefit from this miner as i have been using it for a few days now and i have found that i am gaining a substantial amount of profit from running this miner rather than the standard single algorithm miners. Unfortunately,it only lock you to only one pool which is zpool.ca and i have not figured out how to configure this miner to work with other pools but i will keep on doing my research on the codes to find out if i could make it work for other pools so that i could add more pools, more algorithms and more miner programs to this multi-algo miner. i have no relation whatsoever with the creator of this miner and i am in no way getting any incentives from promoting this miner. This is just to share my experiences and what i know of mining crypto currencies.
So that wraps up my topic today, hope you guys enjoyed reading it, if you liked it then leave a like or if you have any opinions and suggestions please do leave a comment and this is nonpsyco signing off.
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