Post
Topic
Board Mining (Altcoins)
Re: New to crypto and want to learn
by
adaseb
on 01/10/2022, 03:21:07 UTC
What can a newbie use to practice crypto mining? What software and how can I go about it?

Don't know if you heard. But right now there is no profits to be made with GPU mining. ETH had high profitability for years and 2 weeks ago it went POS which means you can't mine it anymore.

You can mine many coins right now, however you will not make a profit when you factor in your electrical cost. There is also ASIC mining which might be profitable with low power but the equipment is not cheap. And that type of mining is not done on a computer but its stand-alone equipment.
Based on my research I read it's not going to be like this for long, I read that mining is more profitable in a bull market and it's better to build a rig when a bull market is about to start, funny thing is how will one know when bull market is about to start?

That would be true but most likely not for GPUs. Maybe for ASICs for Bitcoin and Litecoin. The issue is that ETH had a large daily miner revenue. And there isn’t any coin that comes close that is POW and GPU mineable.

Another issue is that there are lots of GPUs sitting idle waiting for something decent to mine. This will keep profits caped and you will all need to split the revenues between all the miners.