Whether you are a veteran miner or someone who is simply testing the waters, there is one choice that you will inevitably have to make, mining hardware. now the world of crypto mining is broken up into main sectors, all of which pretty much want the same thing.
Each of these miners has their own set of advantages and disadvantages. Now just because you choose to become a GPU miner doesn't mean at a later stage you cannot sell your equipment and become a Scrypt miner, you can also own more than one kind of hardware at a time. In fact, the idea of diversifying your mining portfolio or capabilities in paramount to your success.
Profitability is perpetually on the minds of any miner, your profitability is determined by 3 major factors:
I will be evaluating each of these aspects for the 3 major types of mining hardware, starting with scrypt.
Scrypt miners are much like your standard Mac Donalds or KFC burger franchises. With affordable hardware and a wide variety of coins. These coins however much like a mac Donald's burger lack originality, no matter what fancy sauce you put on a Big Mac, its still just a Big Mac. Power efficiency varies from machine to machine but is constantly improving.
SHA miners are very limited in terms of their coin range, however the worlds best know POS and POW coin both come from SHA. Bitcoin is SHA algorthim and still puts out some good steady profits. The entry level miner can be around 5-10 dollars, which is by far the cheapest. What SHA lacks in originality it makes up for with reliability. power costs have hit an all time low with the release of the Antminer S5, and I believe Antminer will continue to do so.
GPU miners, in my opinion by far the most technical and interesting, GPU mining is unique in both its immense range of coins and algorithms. The possibility of a price spike in a single coin, that was GPU mined is very probable. Coins using X11, X13 etc have a tendency to have innovative ideas or functions to their coins, take Darkcoin as an example. The possibility of remaining completely anonymous while making a payment, suits peoples intentions, both good and bad. However the skill required to set up one of these machine deters many people. I will be releasing a guide hopefully some time in the future.
I hope you all enjoyed this blog, regardless of if you learned anything new... please leave a comment or pm me on hashtalk :)
- The GPU miners
- The new age scrypt miners
- The SHA miners
Each of these miners has their own set of advantages and disadvantages. Now just because you choose to become a GPU miner doesn't mean at a later stage you cannot sell your equipment and become a Scrypt miner, you can also own more than one kind of hardware at a time. In fact, the idea of diversifying your mining portfolio or capabilities in paramount to your success.
Profitability is perpetually on the minds of any miner, your profitability is determined by 3 major factors:
- Your selection of coins and their unique qualities I.E ( anonymity)
- The power usage and efficiency
- Cost of the miner
I will be evaluating each of these aspects for the 3 major types of mining hardware, starting with scrypt.
Scrypt miners are much like your standard Mac Donalds or KFC burger franchises. With affordable hardware and a wide variety of coins. These coins however much like a mac Donald's burger lack originality, no matter what fancy sauce you put on a Big Mac, its still just a Big Mac. Power efficiency varies from machine to machine but is constantly improving.
SHA miners are very limited in terms of their coin range, however the worlds best know POS and POW coin both come from SHA. Bitcoin is SHA algorthim and still puts out some good steady profits. The entry level miner can be around 5-10 dollars, which is by far the cheapest. What SHA lacks in originality it makes up for with reliability. power costs have hit an all time low with the release of the Antminer S5, and I believe Antminer will continue to do so.
GPU miners, in my opinion by far the most technical and interesting, GPU mining is unique in both its immense range of coins and algorithms. The possibility of a price spike in a single coin, that was GPU mined is very probable. Coins using X11, X13 etc have a tendency to have innovative ideas or functions to their coins, take Darkcoin as an example. The possibility of remaining completely anonymous while making a payment, suits peoples intentions, both good and bad. However the skill required to set up one of these machine deters many people. I will be releasing a guide hopefully some time in the future.
I hope you all enjoyed this blog, regardless of if you learned anything new... please leave a comment or pm me on hashtalk :)