Hey guys. Like i said in the last post, I'm still eager to jump into crypto.However no I have questions about mining. How do I do it? What's the process? What should I mine for? What should I avoid? I would love some in depth responses, or at least some links to some :P
(P.S. I'm mainly focusing on monero (thx admin), so try to have the answers correspond with that in some way..)
Anything based on SHA256 like Bitcoin, LiteCoin, etc will be impossible to mine without extremely expensive and specialized hardware.
Therefore you want to mine something ASIC resistant like Monero or many of its derivatives based on the cryptonight/cryptonote algorithm.
https://github.com/fireice-uk/xmr-stak/releases I suggest mining with this software
I suggest using a pool to pool/share resources of mining using a service like https://supportxmr.com
The chances of you solo mining your own monero is slim and could take you months and months to see anything...pools let you earn little by little since your pool wins every few hours...then they split up the earnings from mining proportionally for how many hashes per sec you were contributing...
What's the difference between XMR-Stak and XMRig, the miner SupportXMR suggests?
XMRig is fine too. There are quite a few decent XMR miner programs. I just personally like XMR-Stak and am most familiar with it.
Not sure of exact differences. I suggest trying both and seeing which one you like better and which one produces the faster average hash rate for you.
Some programs are better optimized for certain hardware than others. So whats best for my setup, might not be best for yours necessarily.
I suggest checking out...