So you want to be a bitcoin miner?
- November 23, 2020
By Pete Richison, Owner of Miners-Warehouse.com
“Wait! So I can print digital money at home?” This Eureka moment for folks who are new to bitcoin has played out many times over and will likely continue to repeat itself for quite a while to come as more and more people learn about the crypto currency world and inevitably want to learn more about the process of mining. For new miners there is a steep learning curve of jargon, hardware compatibility, scams and dangerous software downloads, and much more. It can be a daunting task to even know where to start. Sadly there isn’t a simple answer of learning to mine. However, a great place to start is learning from someone else who has done it, so let me tell you a little bit about how I learned to mine crypto!
I, like many people got into bitcoin back in December of 2017 when it was around its all time high of $20,000 (which hopefully we break soon, we’re at $17,968 at the time of writing this in November 2020). I realized in December ‘17 that I wanted to learn how to mine because I didn’t have a lot of money to buy much crypto but making my own by mining it seemed the way to go! I immediately started reading everything I could. The best thing I did was posted online and found out that a few distant friends of mine were actually already mining and finding a miner you know is a great way to learn because most miners love to share their experiences. After a few chats I realized that the best way for me to learn was going to be to just jump into something simple and get my feet wet. Mining on your gaming PC is a great way to learn the ropes of the software and processes like setting up a wallet, learning how to copy and enter pool information etc. Only one problem, I didn’t have a gaming PC. It had been easily a decade since I owned a gaming PC and I have very minimal knowledge of what to do with one, nor did I have the extra cash to buy one. What I did have was desire. I wanted to mine and I wasn’t going to let not having a PC or money stop me from learning! I just had to get creative.
After searching far and wide around the house I found a Go Pro Hero 3 that I had previously won in a contest and only used a few times. I found a PC for sale or trade on Facebook, but the seller wanted a PS4 on trade…and I love my PS4… so that’s a No. However, I found someone else who wanted a Go Pro and was willing to trade a PS4! So I spent a blustery January day driving all over town with my wife and kids to meet a guy and trade the camera for the PS4 then turned around and swapped the newly acquired PS4 for a gaming PC and voila I was ready to go! I had an operating PC with windows 10 already setup and a GTX 550 GPU. It won’t mine a bunch, but it will mine. (I’ve kept this card for posterity and I’m not sure I will ever sell it!). The next step was learning how to set it all up. I luckily found a great guide online but sadly the link has died so I cannot share it. Regardless I learned about Claymore Miner and how to set it all up. Entering Start.bat file information can be daunting at first but with the help of a few miners I met along the way and a download of TeamViewer for a little remote assistance from a friend, I was on my way! I had that baby hashing along at 10mh on ETH and I knew I was going to be rich any day now! I had been bitten by the hashrate bug and soon I bought a second GPU and rebuilt the PC into an open-air rig. Then things started to get serious, more GPUs, more rigs, more hash! And the rest is history.
My advice to anyone who wants to get into crypto mining and doesn’t know where to start is to first get a simple gaming PC and just get started. Don’t worry about making money necessarily for starters just learn the programs and processes. Don’t be afraid to break a few things (this will happen). Make some mistakes, like buying everything you need for a rig, setting it all up turning on the PSU power switch only to realize that the rig doesn’t turn on without a power button and having to rush order one off amazon! Only to learn again that I could have just touched a screwdriver on two pins and had her up and running sooner. Join a bunch of online groups, be leery of downloads and just be careful out there. Finally, when you’re ready to buy equipment send me a message at Miners-Warehouse.com and I would be happy to help you source the equipment you need. Whether you need parts for your first gaming PC setup or if you are filling a warehouse with ASIC miners I can help.