Mining for Noobs - stealing electricity 101

CrunkLord420

not a financial adviser
Supervisor
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kiwifarms.net
I added Binance as the recommended Altcoin exchange. I do not recommend Poloniex anymore, I've long since removed all my coins from there. I don't see any reason to use another altcoin exchange unless you need margin (not recommended) or want to trade DOGE (which isn't on Binance).

Welp, I've been hearing about crypto for a while but always thought that I was late for the party. Is there any point to actually start mining any coins and if yes then where do I start?
Regards,
A dumbass
Basically you need extremely cheap or free electricity, unless you're using mining as a method to accumulate coins without actually buying them (which might be cheaper).
 
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DK 699

Guest
kiwifarms.net
Hello. I have access to interenet and electricity, but I don't have any fancy machine to mine with. If I used some old gaming laptop from 2010 or 2011 as a miner would I be able to earn some money? Also would it damage the machine? I still use the machine for other purposes.
 

Lesbian Sleepover

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Hello. I have access to interenet and electricity, but I don't have any fancy machine to mine with. If I used some old gaming laptop from 2010 or 2011 as a miner would I be able to earn some money? Also would it damage the machine? I still use the machine for other purposes.
Hi
You don't need a fancy machine . Just a Celeron processor and 4-8gb of memory

You will want a 1000 watt min power supply and two GPUs to start but really the profit is low. You would need free off-grid juice or a large spend. However you absolutely can get a coin in ETH in 5 months currently w 4 GPU
 
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D

DK 699

Guest
kiwifarms.net
Hi
You don't need a fancy machine . Just a Celeron processor and 4-8gb of memory

You will want a 1000 watt min power supply and two GPUs to start but really the profit is low. You would need free off-grid juice or a large spend. However you absolutely can get a coin in ETH in 5 months currently w 4 GPU
The laptop I have is either this or something similar to it.
I have free electricity, but I don't think my machine has 2 GPUs. Maybe it's best if I don't dabble in this.
 

Just_Pele

kiwifarms.net
Just an update: My pair of 1080TIs are up to $2.13 /day each, and my 2080Ti is making 3.88, all on Nicehash. If you want to do any mining, and you have access to cheap electricity, you'd better get some cards quickly (or if you just want a video card for gaming). Once people find out that mining is profitable again, GPUs will see another drought
 
A

AF 802

Guest
kiwifarms.net
Question, I have about $5 worth of Monero mined I'd like to trade in for Bitcoin but it seems all of the exchanges want more than what I have before they'll even consider exchanging it. Should I just wait or find an exchange without a minimum?
 

Terrorist

Osama bin Ladkin
kiwifarms.net
Fuck mining or trading this shit, how do you do an exit scam? That's where the real money is.

Pay some chinamen to copy the original, set up a website, call it something epic like keanucoin or groypercoin or whatever, wait for the nerdbux to roll in, then be like "oops, we accidently all your wallets, i guess thats just how our glorious free market without evil fiat currency goes, gotta lose money to make money". Then set up the next one cause these nerds never learn. Easy money, right?
 
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Jewelsmakerguy

Domo Arigato
kiwifarms.net
Since I have literally no where else to post this, I'll just come out and say it here.

I've been getting scam mail from some asshole that goes by the name of "Save You" on one of my non-KF email accounts. He keeps saying that he needs "X number of bitcoins" or else he'll post recordings of me. Apparently he hacked into a webcam that I don't have with malware that he installed, then uninstalled which I also find hard to believe as malware doesn't work like that. Note that unlike most of you, I don't crypto mine, so why I'm getting these I don't know.

[note that the relevant "password" is censored, also note that I'm using Firefox, which is on its most recent incarnation]
Hi, I know one of your passwords is: [redacted[

Your computer was infected with my private malware, your browser wasn't updated / patched, in such case it's enough to just visit some website where my iframe is placed to get automatically infected, if you want to find out more - Google: "Drive-by exploit".

My malware gave me full access to all your accounts (see password above), full control over your computer and it also was possible to spy on you over your webcam.

I collected all your private data and I RECORDED YOU (through your webcam) SATISFYING YOURSELF!

After that I removed my malware to not leave any traces and this email was sent from some hacked server.

I can publish the videos of you and all your private data on the whole web, including the darknet, where the very sick people are, social networks, over email of all contacts.

But you can stop me and only I can help you out in this situation.

Transfer exactly 800$ in bitcoin (BTC).

It's a very good offer, compared to all that horrible shit that will happen if I publish everything!

You can easily buy bitcoin here: www.paxful.com , www.coingate.com , www.coinbase.com , or check for bitcoin ATM near you, or Google for other exchanger.
You can send the bitcoin directly to my wallet, or create your own wallet first here: www.login.blockchain.com/en/#/signup/ , then receive and send to mine.

My bitcoin wallet is: 18jZzWe4Wv4mUNm93rjeWJscqPdhecwsAY

Copy and paste my wallet, it's (cAsE-sEnSEtiVE)

I give you 3 days time to pay.

As I got access to this email account, I will know if this email has already been read.
If you get this email multiple times, it's to make sure that you read it, my mailer script is configured like this and after payment you can ignore it.
After receiving the payment, I will remove everything and you can life your live in peace like before.

Sorry, next time update your browser before browsing the web!
And it's like this every email from this r.etard, only difference is the amount that needs to be paid.

Again, I don't know why I'm getting this email since I don't crypto or have a webcam installed on my computer, but I thought I'd share this in case any of you guys happened to get this.
 
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PaniniMan

Christmas Edition
kiwifarms.net
Lmao not only does Kiwifarms serve as one of the biggest libraries for lolcows and lolcalfs, it also serves a purpose in teaching you how to mine Bitcoin and other cryptocurrencies now!
 
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Garm

kiwifarms.net
Does my internet speed matter very much? Or would business grade internet work?

Also is it worth buying a dedicated miner rig? I have a 6.8 kW solar array so I think one wouldn't completely overwhelm my production. (6-7 hours of sunlight currently. .02 cents a kW because I make too much electricity and so am considered a rival power company.)

The point is that I need something to burn electricity so it looks like my array is properly sized.
 

AnOminous

Really?
True & Honest Fan
Retired Staff
kiwifarms.net
Does my internet speed matter very much? Or would business grade internet work?

Also is it worth buying a dedicated miner rig? I have a 6.8 kW solar array so I think one wouldn't completely overwhelm my production. (6-7 hours of sunlight currently. .02 cents a kW because I make too much electricity and so am considered a rival power company.)

The point is that I need something to burn electricity so it looks like my array is properly sized.
If you can you should build as much of it yourself as possible. @CrunkLord420 or someone may know better how much of something like an ASIC you can do that with, just buying the specific component you need and building around it.

Any prebuilt rig is going to cost more than it's worth because why would they sell it to you when they can just mine with it themselves?
 

Garm

kiwifarms.net
If you can you should build as much of it yourself as possible. @CrunkLord420 or someone may know better how much of something like an ASIC you can do that with, just buying the specific component you need and building around it.

Any prebuilt rig is going to cost more than it's worth because why would they sell it to you when they can just mine with it themselves?
I'm in the middle of a renovation so I figured that it would be better to start mining in a few weeks rather than in a few months when I get the time.

Time was the trade off that I would be making here.
 

CrunkLord420

not a financial adviser
Supervisor
True & Honest Fan
kiwifarms.net
Does my internet speed matter very much? Or would business grade internet work?

Also is it worth buying a dedicated miner rig? I have a 6.8 kW solar array so I think one wouldn't completely overwhelm my production. (6-7 hours of sunlight currently. .02 cents a kW because I make too much electricity and so am considered a rival power company.)

The point is that I need something to burn electricity so it looks like my array is properly sized.
The internet speed latency matters but only during a brief window of time in between you solving a hash and a new block being discovered, in this cases you'd submit a "late hash" and it wouldn't count. Submitting hashes is a very small amount of bandwidth, if that's what you mean. You could mine on a 56k modem.

I wouldn't buy an ASIC for a variety reasons, which all boil down to "you can't re-sell them easily".

Monero has changed to RandomX algo recently, which favors devices with RAM. Suddenly 4GB/8GB laptops are decent mining rigs.
 

Garm

kiwifarms.net
The internet speed latency matters but only during a brief window of time in between you solving a hash and a new block being discovered, in this cases you'd submit a "late hash" and it wouldn't count. Submitting hashes is a very small amount of bandwidth, if that's what you mean. You could mine on a 56k modem.

I wouldn't buy an ASIC for a variety reasons, which all boil down to "you can't re-sell them easily".

Monero has changed to RandomX algo recently, which favors devices with RAM. Suddenly 4GB/8GB laptops are decent mining rigs.

Ah. Yeah I live in a rural area so I was worried I would get screwed over on latency.

I would have used the miner til it died but if I can get away with regular computers I have some of those laying around.
 

Virgo

Pantone 223, "anxious terracotta"
kiwifarms.net
Mining with solar power is a pretty fantastic idea. I never even considered that before. Thanks for the guide/info in this thread, it's really helped me a lot.
 
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