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I have been on the sidelines, watching on and off, looking to attempt mining a few coins. I have also looked at just buying coins, but found that's not so easy to do with anonnimity with all the verifications, ID requests and concern of identity theft from scams. Plus FIAT to Bitcoin can run as high as 20% in transaction fees at a bitcoin ATM....sheesh!

So... I'm looking at mining and attempting to decipher the current GPU hardware requirements by COIN TYPE in terms of hash rate, on card memory and other items like CPU cache and main system memory and even M.2 onboard storage/cache on the newer motherboards and if these have any effect at all on a GPU miner setup.

TOTALLY BRAIN FRIED TRYING TO SORT APPLES, ORANGES and LEMONS OF MIXED DATA.

How do you determine how much GPU core or MEMORY is the minimum needed to mine a specific coin. I'm sure there might be some instances where a lower hash rate card at a lower watt rating might do fine mining, just not as fast as the best of the breed. gpuboss,com has been great for card info, but not all the cards are listed, and some do not give details on power consumption, which when compared at today's crazy prices doesn't give the cost/profit/overhead details.

At this stage it's clear that only a few will continue to mine BITCOIN and ETHERIUM directly given the custom miner farms. Call me a bottom feeder or whatever, but I'm looking at using maybe some less popular cards, lower power cards and less frequented coins to mine and get into the game and migrate into more stable crypto coins to HOLD long term.

Suggestions on plotting the details or sites to follow?

Also some pooled mining does not appear to use all the GPU hash benchmarked from some cards, or at least it doesn't pay the total hash credits offered at that rate.

  • Are you try to mine or just setting up node/server? – zhiyan114 Sep 7 '18 at 2:59
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I would not bother buying new hardware to mine low rate. I suggest you try mining with your existing hw. You could try cpu-mining MAGI, it's easy to start with: https://bitcointalk.org/index.php?topic=735170.0

You won't strike it rich but its a nice mining start.

If you want bitcoins to use anonymous I suggest you find someone local to buy from with cash, or buy a prefilled creditcard and use that to buy coins.

Mining pools don't pay for your hw specs, they pay for the amount of work contributed.

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Get a reality check. Answer is bitcoin only as this is a bitcoin place.

Plus FIAT to Bitcoin can run as high as 20% in transaction fees at a bitcoin ATM....sheesh!

If you complain about 20% fees (which are ridiculously high) - how do you think you will fare with a GPU that is 100 times less efficient and similar or more slower than an asic CHIP? You will pay multiple TIMES the price of a coin in electricity. Your 20% ATM surcharge will look really small.

There is no choice of which GPU - you need an ASIC to be even in a way competitive that does not mean "ok, I heat my house". And even then, unless you have access to super cheap electricity - you basically pay WAY more than 20% above rate for getting a coin.

but found that's not so easy to do with anonnimity with all the verifications, ID requests and concern of identity theft from scams.

Stop. Seriously. Either you want to deal with real adult money, or you do not - and if you do, there is no way around KYC (Know Your Customer) requirements. They are law and exchanges will not work loosing banking for me, you or anyone else. Choose a trustworthy exchange (some are big and established) and just bite the apple. You would likely either not be so.... funny... when opening a brokerage account, or you are too poor for that - because it is exactly the same KYC and more (making sure you can afford to loose the money) by law. There is no way around it. On top, you do not want to be anonymous - if something happens you want to be able to be identified by the broker. I want all the security I can get from an exchange. Real money involved, I legally declare taxable income, why should I hide? I do not hide with my other non crypto brokers wither.

Your best bet is localbitcoins.com or a similar site that works like craigslist and hooks you up with a local seller - and even then and depending where you are, laws apply.

  • "... this is a bitcoin place" False. See here where the list of topics includes "a cryptocurrency or technology derived directly from Bitcoin such as Namecoin or Litecoin" and "distributed cryptocurrencies not derived directly from Bitcoin such as Ripple, Ethereum or NXT". – David Schwartz Apr 26 '18 at 18:15

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