So, the crypto markets are sky-rocketing again, every one is talking about it and you want to be part of it?
Let me tell you one thing: You are too late.
Think of a Wavesurfer on an Ocean. And there is this big wave where he wants to jump onto. It will not work out. He must carefully be prepared to get the wave at the right moment and right position/angle.
If you get into Mining balls deep now, you will probably pay balls deep extra. You might just start close to the peak. This is when most people get into crypto. When it’s already too late. Hardware prices are inflated as hell and the market will probably plummit soon. The right time to expand is the bear season. The next bull Time will come for sure.
So much for the intro, but hold on, this intro is made for the very time, most people will probably get into mining (of any currency). Fear not. You can start mining at any Cryptoseason.
If you are beginning with crypto, you should first evaluate your situation. Id say there are some prerequirements for you to be successful:
- You are a tech savy Person
- You enjoy working with computers and tinkering around with them (possibly for hours)
- You have some spare Money which you do not need for a living
- You have decent internet connection (>5 mb’s with direct access to the router for lan)
- You have low electricity prices
- You are your captain. Even in the strom. You are not some straw of hey, which will fall by the slightest wind. You are not a nutshell on the ocean, which is beeing driven to all kinds of directions by the tide
- You do not expect the quick rich sheme
Keep in mind that cryptomining is a project requiring a lot of thinkering and technical knowledge. I have had a few friends dropping out of frustration.
Get your first system
After you have evaluated your prerequirements and your goals, start out with your first system. Do not start to invest heavily right now. Id say this is the number one issue for hyped seedlings. For a few reasons:
- You have less pressure building everything up and get it running. Your money is at risk.
- You are not in the game yet and do not know what is apropriate, where to save money and where better not. I have had to rebuy hardware multiple times because I have missed a thing in the beginning and then not everything worked out.
- Do not trust others on what is right and what is wrong. (especially youtube / influencer tutorials). Get your own opinion by starting slow and seek others for help / guidance.
- Kryptomining is a complex topic. I have had multiple friends dropping out of technical frustration. They had one thing in common: They tried to start “Big” (as big as you can start as a seedling anyways ). It is heck of a lot more complex to have 5-8 gpus rather than 1. Or having 20 Harddrives rather than one. Do not do this mistake! Start slow.
Best use an old/used/scrap computer for now. If you are into GPU mining, get a GPU. If you are into HDD mining, get an hdd. Install the required mining Software/Drivers, follow some Tutorial and get going. Do not attempt to understand everything for now, just start get going. You will gather experience and realize if this is a fun project or not for you.
Getting the basics of IT System Engineering
You basically have two choices:
- Use an operating system of your choice
- Use a Mining OS of your choice
Both have pros and cons. A mining OS is often an easier and perhaps a quicker way. On the other hand on a normal operating system you have full control and you will get deeper insights about how stuff works.
A mining OS will probably take a lot of configuration work from you.
You should get a basic understanding of:
- Task management (how to start a process on system startup)
- Bios configurations (power on after power loss, …)
- Network (How to connect multiple computers in a network, Port forwarding, static ip assignment)
- Control your operating system remotely (ssh, rdp, …)
- Secure the access to your rig
- PCIE expansion cards (Lanes/calculating lanes, USB risers, USB Splitters, PCIE-Sata/SAS/NVME adapters, …)
- Power supply (Reading psu specifications - 12 power, 5v power, …)
- How to stay electrically safe
- how to deploy a system image/install programs with the shell because you will likely have to install the operating system multiple times in the beginning if you break stuff.
Expanding your Farm
If you figured that mining is a sufficient hobby for you (that will hopefully pay off), start expanding gradually. Buy a new psu, Buy an additional GPU/HDD. Upgrade your rig with an SSD, … Don’t overdo it. One step at a time. You will find certain “Walls of frustration” for example:
- When both NVME/PCIE slots are in use, some sata ports or other ports might be disabled.
- System power
- Not enough ports to connect all devices
- Cooling of parts
Just to mention some. If you dive deep now, you will have all those issues at one go. Have fun with that.
Once you reached a certain point, for example a rig with 40 HDDs/5 gpus you might consider your rig complete. This is totally up to you when this is the case.
You might now find a lot of optimisations or even want to build your own Frame. You might want to start a second rig, where you apply these optimisations or fix your first one beforehands (It can be frustrating to rebuild the rig mutiple times)
Now you have a “Preset” which you can apply to future rigs. You will probably now want to learn how to manage multiple rigs properly. How to implement them into your network, maybe get a firewall and so on.
It is now time to think about the Power / Heat capabilities of your Location.